Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Nanjing Putian Telecommunications Co., Ltd.
Semi-Annual Financial Report 2026
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
I. Audit Report
Whether the semi-annual report has been audited
□Yes ? No
The Company's half-year financial report has not been audited.
II. Financial Statements
The unit of measurement in the financial statement notes is: RMB
Preparation unit：Nanjing Putian Telecommunications Co., Ltd.
Unit：RMB
Item 2026/6/30 2025/12/31
Current assets：
Cash and bank balances 92,027,815.86 182,285,495.92
Held-for-trading financial assets
Derivative financial assets
Notes receivable 7,640,174.97 17,228,499.09
Accounts receivable 417,723,228.10 323,586,922.02
Receivables financing 9,122,528.57 27,655,375.14
Advances paid 4,874,776.91 3,455,153.02
Other receivable 5,367,579.19 5,239,886.21
Including: Interest receivable
dividend receivable
Inventories 84,153,999.55 61,937,412.34
Contract assets
assets hold available for sale
Non-current assets due within one year
Other current assets 2,319,354.92 2,196,783.91
Total current assets 623,229,458.07 623,585,527.65
Non-current assets：
Debt investment
Other debt investment
Long-term receivable
Long-term equity investments
Other equity instrument investments 741,953.00 741,953.00
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Other non-current financial assets
Investment property 14,320,208.99 4,977,270.72
Fixed assets 71,401,501.53 84,173,058.11
Construction in progress
Productive biological assets
Oil and gas asset
Right-of-use asset 6,571,522.28 2,187,184.72
Intangible assets 10,969,793.52 11,203,970.58
Development expenditure
Goodwill
Long-term prepayments 2,675,673.35 3,054,632.19
Deferred tax assets
Other non-current assets
Total non-current assets 106,680,652.67 106,338,069.32
Total assets 729,910,110.74 729,923,596.97
Current liabilities：
Short-term borrowings 155,023,060.00 203,925,721.98
Transactional financial liabilities
Derivative financial liabilities
Notes payable 5,587,062.08 6,775,234.17
Accounts payable 348,194,942.28 273,382,306.86
Advances received 295,001.06
Contract liabilities 7,829,012.32 8,426,313.45
Employee benefits payable 12,115,047.68 12,622,282.49
Taxes payable 923,773.65 6,042,197.80
Other payable 37,546,026.02 49,032,066.18
Including: Interest payable
dividend payable 698,000.00 11,044,600.00
Liability hold for sale
Non-current liabilities due within one year 738,776.12 70,899,913.72
Other current liabilities 4,039,979.99 10,920,413.23
Total current liability 571,997,680.14 642,321,450.94
Non-current liability：
Long-term borrowings 70,054,444.44
Bonds payable
Including: preferred shares
Perpetual bond
Lease liability 3,684,477.93
Long-term payable
Long-term employee compensation payable
Provisions
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Deferred income
Deferred income tax liabilities
Other non-current liability
Total non-current liability 73,738,922.37
Total liability 645,736,602.51 642,321,450.94
Owners' equity (or shareholders' equity):
Share capital 215,000,000.00 215,000,000.00
Other equity instrument
Including: preferred shares
Perpetual bond
Capital reserve 201,318,128.61 201,318,128.61
Less: treasury stocks 2,995,076.96 2,995,076.96
Other comprehensive income (OCI) -1,854,910.00 -1,854,910.00
Special reserves
Surplus reserve 589,559.77 589,559.77
Undistributed profit -410,362,900.04 -403,806,789.70
Total owner's equity (or shareholders' equity) attributable to the parent
company
Minority shareholders' equity 82,478,706.85 79,351,234.31
Total owner's equity (or shareholders' equity) 84,173,508.23 87,602,146.03
Total liabilities and owners’ equity (or shareholders’ equity) 729,910,110.74 729,923,596.97
Legal Representative: Shen Xiaobing Accounting Director: Zhang Jie Accounting Manager:Zhang Jingxia
Unit：RMB
Item 2026/6/30 2025/12/31
Current assets：
Cash and bank balances 21,433,862.16 36,959,492.02
Held-for-trading financial assets
Derivative financial assets
Notes receivable 263,341.50 510,041.40
Accounts receivable 65,625,403.37 60,911,892.03
Receivables financing
Advances paid 1,333,779.59 1,077,733.24
Other receivable 21,069,952.16 30,491,285.66
Including: Interest receivable
dividend receivable 19,532,000.00 28,685,400.00
Inventories 5,705,149.08 6,084,321.32
Contract assets
assets hold available for sale
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Non-current assets due within one year
Other current assets 311,326.35 684,787.04
Total current assets 115,742,814.21 136,719,552.71
Non-current assets：
Debt investment
Other debt investment
Long-term receivable
Long-term equity investments 41,931,948.52 41,931,948.52
Other equity instrument investment 741,953.00 741,953.00
Other non-current financial assets
Investment property 9,177,630.01
Fixed assets 22,616,432.74 33,285,551.38
Construction in progress
Productive biological assets
Oil and gas asset
Right-of-use asset 6,571,522.28 2,187,184.72
Intangible assets 3,835,659.49 3,898,367.83
Development expenditure
Goodwill
Long-term prepayments 813,007.78 1,020,871.30
Deferred tax assets
Other non-current assets
Total non-current assets 85,688,153.82 83,065,876.75
Total assets 201,430,968.03 219,785,429.46
Item 2026/6/30 2025/12/31
Current liabilities：
Short-term borrowings 86,869,926.67 101,610,266.35
Transactional financial liabilities
Derivative financial liabilities
Notes payable 150,000.00 446,679.01
Accounts payable 77,745,430.08 78,170,882.89
Advances received
Contract liabilities 6,294,574.13 6,428,573.95
Employee benefits payable 7,135,640.94 7,257,940.39
Taxes payable 19,053.80 250,156.31
Other payables 79,556,220.72 80,527,424.76
Including: Interest payable
dividend payable
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Liability hold for sale
Non-current liabilities due within one year 738,776.12 70,899,913.72
Other current liabilities 668,409.62 1,351,067.90
Total current liability 259,178,032.08 346,942,905.28
Non-current liability：
Long-term borrowings 70,054,444.44
Bonds payable
Including: preferred shares
Perpetual bond
Lease liability 3,684,477.93
Long-term payable
Long-term employee compensation payable
Provisions
Deferred income
Deferred income tax liabilities
Other non-current liability
Total non-current liability 73,738,922.37
Total liability 332,916,954.45 346,942,905.28
Owners' equity (or shareholders' equity):
Share capital 215,000,000.00 215,000,000.00
Other equity instrument
Including: preferred shares
Perpetual bond
Capital reserve 158,864,042.34 158,864,042.34
Less: treasury stocks 2,995,076.96 2,995,076.96
Other comprehensive income (OCI) -1,854,910.00 -1,854,910.00
Special reserves
Surplus reserve 589,559.76 589,559.76
Undistributed profit -501,089,601.56 -496,761,090.96
Total owner's equity (or shareholders' equity) -131,485,986.42 -127,157,475.82
Total liabilities and owners’ equity (or shareholders’ equity) 201,430,968.03 219,785,429.46
Unit：RMB
Current period Preceding period
Item
cumulative comparative
I. Operating revenue 299,073,040.78 306,314,118.65
Less：Operating cost 246,521,006.59 242,780,834.63
Taxes and surcharges 1,027,702.62 1,380,779.48
Selling expenses 23,323,748.94 26,947,332.12
Administrative expenses 16,501,116.64 20,150,513.97
R&D expenses 13,172,055.48 14,599,352.20
Financial expenses 3,496,873.53 4,030,939.14
Including:Interst expense 3,564,647.79 4,242,807.72
Interst income 379,063.55 192,058.50
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Add: other income 859,725.65 1,364,907.79
Investment income (losses are listed with "-") 685,304.26 142,499.31
Including: investment income from associates and joint
-111.44
ventures
Derecognition income of financial assets measured at
amortized cost
Net exposure hedging gain (loss are listed with "-")
Gains from changes in fair value (losses are listed with "-")
Credit impairment loss (losses are listed with "-") -362,478.35 -781,264.08
Assets impairment loss(losses are listed with "-")
Gain on assets disposal (loss are listed with "-") 8,627.76 -16,680.80
II. Operating profit（loss show as “－”） -3,778,283.70 -2,866,170.67
Plus: non-operating revenue 609,381.73 235,959.49
Less: non-operating expenditures 47.05 200,898.70
III. Total profit (total loss is listed with "-") -3,168,949.02 -2,831,109.88
Deduct: income tax expense 259,688.78 924,211.67
IV. Net profit (net loss is listed with "-") -3,428,637.80 -3,755,321.55
(1) Classified by business continuity:
(2) Classified by ownership:
V. Net after-tax of other comprehensive income
(1) Net after-tax amount of other comprehensive income
attributable to owners of the parent company
profit and loss
profit or loss under the equity method
investments
profit and loss
or loss under the equity method
comprehensive income
hedge gains and losses)
statements
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(2) Net after-tax amount of other comprehensive income
attributable to minority shareholders
VI. Total comprehensive income -3,428,637.80 -3,755,321.55
(1) Total comprehensive income attributable to owners of the
-6,556,110.34 -7,153,201.29
parent
(2) Total comprehensive income attributable to minority
shareholders
VII. Earnings per share
(1) Basic earnings per share -0.03 -0.03
(2) Diluted earnings per share -0.03 -0.03
Unit：RMB
Current period Preceding period
Item
cumulative comparative
I. Operating revenue 16,842,292.29 17,860,639.02
Less：Operating cost 11,429,527.59 14,742,759.47
Taxes and surcharges 182,371.68 97,961.39
Selling expenses 1,288,276.44 1,769,737.91
Administrative expenses 8,327,621.42 10,919,895.29
R&D expenses
Financial expenses 2,654,329.61 3,195,973.26
Including:Interst expense 2,401,945.21 3,326,989.00
Interst income 38,568.81 136,153.06
Add: other income 10,618.95 10,310.52
Investment income (losses are listed with "-") 682,007.66 9,290,483.02
Including: investment income from associates and joint ventures -111.44
Derecognition income of financial assets measured at amortized
cost
Net exposure hedging gain (loss are listed with "-")
Gains from changes in fair value (losses are listed with "-")
Credit impairment loss (losses are listed with "-") 1,477,187.85 968,023.71
Assets impairment loss(losses are listed with "-")
Gain on assets disposal (loss are listed with "-") 8,627.76 -16,680.80
II. Operating profit（loss show as “－”） -4,861,392.23 -2,613,551.85
Plus: non-operating revenue 532,881.63 123,516.78
Less: non-operating expenditures 196,401.08
III. Total profit (total loss is listed with "-") -4,328,510.60 -2,686,436.15
Deduct: income tax expense
IV. Net profit (net loss is listed with "-") -4,328,510.60 -2,686,436.15
(1) Net profits from continuing operations -4,328,510.60 -2,686,436.15
(2) Discontinued operating net profit
V.Other comprehensive income net of tax
(1) Comprehensive income not to be reclassified to profit or loss
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
in equity method
(2) Comprehensive income to be reclassified to profit or loss
equity method
comprehensive income
gains and losses)
VI. Total comprehensive income -4,328,510.60 -2,686,436.15
VII. Earnings per share:
Unit：RMB
Current period Preceding period
Item
cumulative comparative
I. Cash flow from operating activities:
Cash received from the sale of goods and the provision of labor
services
Tax Refund 156,461.54 398,076.73
Other cash received relating to operating activities 13,195,589.56 15,113,042.69
Subtotal of cash inflow from operating activities 209,858,516.92 244,867,359.72
Cash paid for purchasing goods and receiving labor services 142,368,694.75 258,813,921.41
Cash paid to and for employees 57,858,012.45 64,421,717.65
Various taxes and fees paid 11,100,955.58 18,904,119.63
Other cash payments related to operating activities 24,263,223.87 34,993,186.57
Subtotal of cash outflows from operating activities 235,590,886.65 377,132,945.26
Net cash flow from operating activities -25,732,369.73 -132,265,585.54
II. Cash flow from investment activities:
Cash received from investment
Cash received from investment income
Net cash received from the disposal of fixed assets, intangible assets
and other long-term assets
Net cash received from disposal of subsidiaries and other business units 13,290.70
Other cash received relating to investing activities
Subtotal of cash inflows from investing activities 86,750.70
Cash paid for the purchase and construction of fixed assets, intangible
assets and other long-term assets
Cash Investment
Net cash paid for acquiring subsidiaries and other business units
Other cash paid relating to investing activities
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Subtotal of cash outflows from investing activities 334,460.00 1,033,301.00
Net cash flows from investing activities -247,709.30 -1,033,301.00
III. Cash flow from financing activities:
Absorb cash received from investment
Including: cash received by the subsidiary from absorbing minority
shareholders' investment
Cash received from borrowing 109,100,000.00 73,138,001.75
Other cash receipts related to financing activities
Subtotal of cash inflows from financing activities 109,100,000.00 73,138,001.75
Cash paid for debt repayment 156,814,067.87 117,300,000.00
Cash paid for dividends, profits, or interest payments 13,746,255.29 4,437,064.34
Including: dividends and profits paid by subsidiaries to minority
shareholders
Other cash payments related to financing activities 1,548,349.65 568,965.48
Subtotal of cash outflows from financing activities 172,108,672.81 122,306,029.82
Net cash flow from financing activities -63,008,672.81 -49,168,028.07
IV. The impact of exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents -88,988,751.84 -182,466,914.61
Add: the balance of cash and cash equivalents at the beginning of the
period
VI. Balance of cash and cash equivalents at the end of the period 91,062,846.52 105,861,149.82
Unit：RMB
Current period Preceding period
Item
cumulative comparative
I. Cash flow from operating activities:
Cash received from the sale of goods and the provision of labor
services
Tax Refund
Other cash received relating to operating activities 3,218,775.78 1,767,503.79
Subtotal of cash inflow from operating activities 19,834,874.58 25,456,873.45
Cash paid for purchasing goods and receiving labor services 9,188,263.08 19,387,920.46
Cash paid to and for employees 12,022,871.51 15,255,504.63
Various taxes and fees paid 1,595,506.43 2,848,952.99
Other cash payments related to operating activities 2,858,088.71 6,036,416.59
Subtotal of cash outflows from operating activities 25,664,729.73 43,528,794.67
Net cash flow from operating activities -5,829,855.15 -18,071,921.22
II. Cash flow from investment activities:
Cash received from investment
Cash received from investment income 9,153,400.00
Net cash received from the disposal of fixed assets, intangible assets
and other long-term assets
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Net cash received from disposal of subsidiaries and other business
units
Other cash received relating to investing activities
Subtotal of cash inflows from investing activities 9,240,150.70
Cash paid for the purchase and construction of fixed assets,
intangible assets and other long-term assets
Cash Investment
Net cash paid for acquiring subsidiaries and other business units
Other cash paid relating to investing activities
Subtotal of cash outflows from investing activities 255,970.00 149,450.00
Net cash flows from investing activities 8,984,180.70 -149,450.00
III. Cash flow from financing activities:
Absorb cash received from investment
Cash received from borrowing 70,000,000.00 11,088,001.75
Other cash receipts related to financing activities
Subtotal of cash inflows from financing activities 70,000,000.00 11,088,001.75
Cash paid for debt repayment 84,764,067.87 30,000,000.00
Cash paid for dividends, profits, or interest payments 2,337,333.89 3,505,381.95
Other cash payments related to financing activities 1,548,349.65 568,965.48
Subtotal of cash outflows from financing activities 88,649,751.41 34,074,347.43
Net cash flow from financing activities -18,649,751.41 -22,986,345.68
IV. The impact of exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents -15,495,425.86 -41,207,716.90
Add: the balance of cash and cash equivalents at the beginning of the
period
VI. Balance of cash and cash equivalents at the end of the period 21,019,965.37 34,810,620.72
Unit：RMB
Current period
Equity attributable to parent company
Other equity Min
instruments orit
Pai Les Sp y
Su und
Item d-in s: ec shar Total owner's
Pre Per Capi Other rpl istri
cap trea ial Sub ehol equity
fer pet tal comprehensive us bute
ital ot sur re tota ders
red ual rese income res d
(or h y se l '
sto bo rve er prof
equ er sto rv equi
ck nd ve it
ity) cks es ty
I. -
Balance 215 201 58
at the ,00 ,31 9,
end of 0,0 8,1 55 87,602,146.03
the 00. 28. 9.
previous .96 89. .72 4.3
year 70 1
Add:
Accounti
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
ng
policy
changes
Correcti
on of
previous
errors
Mer
ger of
enterpris
es under
the same
control
Others
II. -
Balance 2,9 403 8,2
,00 ,31 9, 351
at the 95, ,80 50,
beginni 076 6,7 911
ng of 00. 28. 9. 4.3
.96 89. .72
the year 00 61 77 1
III. The
amount
of
increase
or - -
decrease 6,5 6,5
in this 56, 56, -3,428,637.80
year 110 110
(decreas .54
.34 .34
e is
listed
with "-
")
(1) - -
Total 6,5 6,5
compre 56, 56, -3,428,637.80
hensive 472
income .54
.34 .34
(2)
Owner's
investm
ent and
reductio
n of
capital
Ordinary
shares
invested
by the
owner
Capital
invested
by
holders
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
of other
equity
instrume
nts
amount
of share-
based
payment
included
in
owner's
equity
Other
(3)
Profit
distribu
tion
Withdra
w
surplus
reserve
Distribut
ion to
owners
(or
sharehol
ders)
Others
(4)
Internal
transfer
of
owners'
equity
Conversi
on of
capital
reserve
into
capital
(or share
capital)
Conversi
on of
surplus
reserves
into
capital
(or
equity)
Surplus
reserves
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
make up
for
losses
Carryov
er of
retained
earnings
from
changes
in the
defined
benefit
plan
Other
compreh
ensive
income
carried
forward
to
retained
earnings
Other
(5)
Special
reserve
Withdra
w
special
reserves
special
reserves
(6)
Others
IV. -
Balance 2,9 410 1,6
,00 ,31 9, 478
at the 95, ,36 94,
end of 076 2,9 801
the 00. 28. 9. 6.8
.96 00. .38
period 00 61 77 5
Preceding period
Equity attributable to parent company
Other equity
Paid instruments Other Minori
Item -in Less: compr Total
Spe Surp ty
capit Capital treasu ehensi undistri owner's
Prefe Perpe cial lus Subto shareh
al reserve ry ve buted equity
rred tual ot rese reser tal olders'
(or stock bond he stocks incom profit equity
rves ve
equit r e
y)
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
I.
Balance - - 14,3
at the 215, 2,995
end of 000, ,076.
the 000. 96
previou 58 00 77 37 2 .02
s year
Add:
Account
ing
policy
changes
Correcti
on of
previous
errors
Me
rger of
enterpris
es under
the
same
control
Others
II.
Balance 215, - - 14,3
at the 000, 1,854 394,34 51,0 95,929,64
beginni 000. ,910. 4,427. 13.0 1.04
ng of 58 96 77 .02
the year
III. The
amount
of
increase
or - -
decreas - -
e in this 7,153, 10,976,57
year 201.29 2.43
(decrea 6.46 97
se is
listed
with "-
")
(1) -
Total - -
compre 7,153, 3,755,321
hensive 201.29 .55
income 1.29 74
(2)
Owner'
s 3,10
investm 4,97
ent and 4.83
reducti
on of
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
capital
Ordinar
y shares
invested
by the
owner
Capital
invested
by
holders
of other
equity
instrume
nts
The
amount
of
share-
based
payment
included
in
owner's
equity
Other .12
(3) -
Profit 10,84
distribu 6,600
tion 0.00
.00
Withdra
w
surplus
reserve
Distribu -
tion to -
owners 10,846,60
(or 0.00
sharehol .00
ders)
Others
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(4)
Internal
transfer
of
owners'
equity
Convers
ion of
capital
reserve
into
capital
(or
share
capital)
Convers
ion of
surplus
reserves
into
capital
(or
equity)
Surplus
reserves
make up
for
losses
Carryov
er of
retained
earnings
from
changes
in the
defined
benefit
plan
Other
compreh
ensive
income
carried
forward
to
retained
earnings
Other
(5)
Special
reserve
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Withdra
w
special
reserves
Use
special
reserves
(6)
Others
IV.
Balance 215, - - 10,3
at the 000, 1,854 401,49 02,7 84,953,06
end of 000. ,910. 7,628. 86.5 8.61
the 41 96 77 .05
period
Unit：RMB
Current period
Other equity
Paid- instruments
Item in Less: Other Specia Surplu Total
Capital
capit Prefe Perpe treasury comprehensi l s undistribut owner's
ot reserve
al (or rred tual stocks ve income reserv reserv ed profit equity
h
equit stock bond es e
er
y)
I.
Balance
at the 215, - - -
end of 000, 158,864, 1,854,910. 589,5 496,761, 127,157,
the 000. 042.34 00 59.76 090.96 475.82
previou 00
s year
Add:
Account
ing
policy
changes
Correcti
on of
previous
errors
Others
II.
Balance 215,
- - -
at the 000, 158,864, 2,995,076. 589,5
beginni 000. 042.34 96 59.76
ng of 00 090.96 475.82
the year
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
III. The
amount
of
increase
or
decrease - -
in this 4,328,51 4,328,51
year 0.60 0.60
(decreas
e is
listed
with "-
")
(1)
Total - -
compre 4,328,51 4,328,51
hensive 0.60 0.60
income
(2)
Owner's
investm
ent and
reductio
n of
capital
Ordinary
shares
invested
by the
owner
Capital
invested
by
holders
of other
equity
instrume
nts
amount
of share-
based
payment
included
in
owner's
equity
Other
(3)
Profit
distribu
tion
Withdra
w
surplus
reserve
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Distribut
ion to
owners
(or
sharehol
ders)
Others
(4)
Internal
transfer
of
owners'
equity
Conversi
on of
capital
reserve
into
capital
(or share
capital)
Conversi
on of
surplus
reserves
into
capital
(or
equity)
Surplus
reserves
make up
for
losses
Carryov
er of
retained
earnings
from
changes
in the
defined
benefit
plan
Other
compreh
ensive
income
carried
forward
to
retained
earnings
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Other
(5)
Special
reserve
Withdra
w
special
reserves
special
reserves
(6)
Others
IV.
Balance 215,
- - -
at the 000, 158,864, 2,995,076. 589,5
end of 000. 042.34 96 59.76
the 00 601.56 986.42
period
Preceding period
Paid Other equity instruments
-in Other
Item Less: Special Total
capi Preferre Perpetu Capital compre
treasury reserve Surplus undistribu owner's
tal d stock al bond reserve hensive
othe stocks s reserve ted profit equity
(or income
equi r
ty)
I.
Bala
nce
at the - - -
end 158,864, 1,854, 589,55 486,533, 116,929,
of the ,00 6.96
previ 0,0
ous 00.
year 00
Add:
Acco
untin
g
polic
y
chang
es
Corre
ction
of
previ
ous
errors
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Other
s
II.
Bala 215
nce ,00 - - -
at the 158,864, 2,995,07 589,55
begin 042.34 6.96 9.76
ning 00. 910.00 211.13 595.99
of the 00
year
III.
The
amou
nt of
incre
ase
or
decre - -
ase in 2,686,43 2,686,43
this 6.15 6.15
year
(decr
ease
is
listed
with
"-")
(1)
Total
comp - -
rehen 2,686,43 2,686,43
sive 6.15 6.15
inco
me
(2)
Own
er's
inves
tmen
t and
reduc
tion
of
capit
al
Ordin
ary
share
s
invest
ed by
the
owne
r
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Capit
al
invest
ed by
holde
rs of
other
equit
y
instru
ments
The
amou
nt of
share-
based
paym
ent
inclu
ded in
owne
r's
equit
y
Other
(3)
Profi
t
distri
butio
n
With
draw
surpl
us
reserv
e
Distri
butio
n to
owne
rs (or
share
holde
rs)
Other
s
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(4)
Inter
nal
trans
fer of
owne
rs'
equit
y
Conv
ersion
of
capita
l
reserv
e into
capita
l (or
share
capita
l)
Conv
ersion
of
surpl
us
reserv
es
into
capita
l (or
equit
y)
Surpl
us
reserv
es
make
up for
losses
Carry
over
of
retain
ed
earni
ngs
from
chang
es in
the
defin
ed
benef
it
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
plan
Other
comp
rehen
sive
inco
me
carrie
d
forwa
rd to
retain
ed
earni
ngs
Other
(5)
Speci
al
reser
ve
With
draw
speci
al
reserv
es
Use
speci
al
reserv
es
(6)
Othe
rs
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
IV.
Bala 215
nce ,00 - - -
at the 158,864, 2,995,07 589,55
end 042.34 6.96 9.76
of the 00. 910.00 647.28 032.14
perio 00
d
I. Company Overview
Nanjing Putian Communication Co., Ltd. (hereinafter referred to as the Company) originated from the
Nanjing Communication Equipment Factory under the Ministry of Posts and Telecommunications. On March
through a public offering, as documented in Document No.28 [1997]. The Company was registered with the
Nanjing Administration for Industry and Commerce on May 18,1997, with its headquarters located in Nanjing,
Jiangsu Province. It holds a business license with the Unified Social Credit Code 91320000134878054G, a
registered capital of RMB 215,000,000.00, and a total of 215,000,000 shares (each with a par value of RMB 1).
This includes 115,000,000 state-owned legal person shares and 100,000,000 B-shares. The Company's shares
were listed for trading on the Shenzhen Stock Exchange on May 22,1997.
Our company operates in the telecommunications equipment manufacturing sector. Our primary business
activities include: research, development, manufacturing, processing, and sales of data communication, wired and
wireless communication products, distribution and wiring communication products, electronic products,
multimedia computers, digital television systems, automotive electronics, and high/low-voltage electrical
switchgear; development, production, and distribution of new energy vehicle charging solutions and components
(including EV chargers, charging modules, charging station systems, modular charging cabinets, outdoor
integrated charging stations, AC/DC charging piles, and related accessories); design and provision of
comprehensive new energy charging/discharging solutions; operation and maintenance of EV charging
infrastructure; development and sales of software and intelligent software platforms; IT services for smart city and
elderly care applications; R&D, manufacturing, sales, installation, and technical support for video equipment and
video conferencing systems; agency sales of communication-modified vehicles (excluding wholesale) with
corresponding after-sales services; design, system integration, and consulting services for communication
networks and computer information systems; design, construction, installation, and maintenance of intelligent
building systems; and leasing of owned assets such as properties and equipment.
This financial statement has been approved by the Company's Board of Directors on August 15,2026, for
public release.
II. Basis for Preparing Financial Statements
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
The financial statements of our company are prepared on a going concern basis, based on actual
transactions and events, in accordance with the Accounting Standards for Business Enterprises – Basic
Standards issued by the Ministry of Finance, various specific accounting standards, the Application Guidelines
for Accounting Standards for Business Enterprises, the Interpretations of Accounting Standards for Business
Enterprises, and other relevant regulations (collectively referred to as the "Accounting Standards for Business
Enterprises"), as well as the provisions of the China Securities Regulatory Commission's Rules for the
Preparation and Reporting of Information Disclosure by Companies Issuing Securities Publicly No.15 –
General Provisions for Financial Reports (2023 Revision).
In accordance with the relevant provisions of the Enterprise Accounting Standards, the Company's
accounting practices are based on the accrual basis. With the exception of certain financial instruments, all
financial statements are measured at historical cost. Where asset impairment occurs, corresponding impairment
provisions are recognized in accordance with applicable regulations.
This financial statement is prepared on a going concern basis, and the Company has maintained its ability
to continue as a going concern for at least 12 months from the end of the reporting period.
III. Key Accounting Policies and Accounting Estimates
The Company and its subsidiaries operate in the telecommunications equipment manufacturing industry. In
accordance with the actual characteristics of their production and operations and the relevant accounting
standards, the Company and its subsidiaries have established specific accounting policies and estimates for
various transactions and events, as detailed below.
The financial statements prepared by the Company comply with the Accounting Standards for Business
Enterprises, and present fairly and completely the consolidated and parent company financial position of the
Company as at 30 June 2026, as well as the consolidated and parent company operating results and consolidated
and parent company cash flows for the six months ended 30 June 2026.
The Company's accounting periods are divided into annual and interim periods, with the interim period
referring to a reporting period shorter than a full fiscal year. The Company adopts the Gregorian calendar year
for its fiscal year, which runs from January 1 to December 31 each year.
The company adopts a 12-month period as its operating cycle and uses it as the criterion for classifying the
liquidity of its assets and liabilities.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
The Renminbi (RMB) serves as the currency used in the primary economic environment in which the
Company and its domestic subsidiaries operate, and both the Company and its domestic subsidiaries adopt the
RMB as their accounting currency. The currency employed by the Company in preparing these financial
statements is the Renminbi.
common control
A business combination refers to a transaction or event in which two or more separate entities merge to
form a single reporting entity. Business combinations are classified into combinations under common control
and combinations not under common control.
(1) Business combinations under common control
Enterprises participating in a merger are both subject to the ultimate control of the same party or the same
multiple parties before and after the merger, and such control is not temporary; thus, it constitutes a merger
under common control. In a merger under common control, the party that obtains control of the other
participating enterprises on the merger date is the merging party, while the other participating enterprises are the
merged parties. The merger date refers to the actual date on which the merging party obtains control of the
merged parties.
The assets and liabilities acquired by the enterprise in a business combination are measured at the carrying
values of the acquired entity's assets and liabilities (including goodwill formed by the ultimate controlling
party's acquisition of the acquired entity) as presented in the ultimate controlling party's consolidated financial
statements on the combination date. The difference between the carrying value of the acquired net assets and the
carrying value of the consideration paid for the combination (or the total par value of the issued shares) shall be
adjusted against the share capital premium in the capital reserve; if the share capital premium in the capital
reserve is insufficient to cover the reduction, the retained earnings shall be adjusted accordingly.
The direct costs incurred by the merging party in carrying out the business combination shall be recognized
in profit or loss of the current period at the time of occurrence.
(2) Business combinations under different controls
A business combination is classified as a non-same-control combination if the participating enterprises are
not ultimately controlled by the same party or the same group of parties before and after the combination. In a
non-same-control combination, the party that obtains control of the other participating enterprises on the
acquisition date is the acquirer, while the other participating enterprises are the acquirees. The acquisition date
refers to the date when the acquirer actually gains control over the acquirees.
For business combinations under different controls, the combination cost includes: the fair value of assets
acquired by the acquirer on the acquisition date to obtain control over the acquiree; liabilities incurred or
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
assumed; equity securities issued; audit fees, legal services, valuation consulting fees, and other administrative
expenses incurred during the combination, which are recognized in profit or loss at their occurrence; transaction
costs of equity or debt securities issued by the acquirer as consideration for the combination, which are included
in the initial recognition amount of such securities; contingent consideration measured at its fair value on the
acquisition date and included in the combination cost; and any adjustments to contingent consideration required
if new or additional evidence of conditions existing at the acquisition date emerges within 12 months post-
acquisition, which are reflected in the corresponding adjustment to goodwill. The combination cost incurred by
the acquirer and the identifiable net assets acquired in the combination are measured at their fair values on the
acquisition date. The difference between the combination cost and the acquirer's share of the fair value of the
acquiree's identifiable net assets on the acquisition date is recognized as goodwill. If the combination cost is less
than the acquirer's share of the fair value of the acquiree's identifiable net assets, the fair values of all
identifiable assets, liabilities, and contingent liabilities of the acquiree, along with the combination cost itself,
are re-examined. Should the re-examined combination cost remain lower than the acquirer's share of the fair
value of the acquiree's identifiable net assets, the difference is recognized in profit or loss.
When the purchasing party acquires the deductible temporary differences of the purchased party that were
not recognized on the acquisition date due to non-compliance with the recognition criteria for deferred tax
assets, if new or additional information obtained within 12 months after the acquisition date indicates that the
relevant circumstances existed on the acquisition date and that the economic benefits arising from the
deductible temporary differences are expected to materialize, the relevant deferred tax assets shall be
recognized while reducing goodwill. If goodwill is insufficient to cover the reduction, the difference shall be
recognized in profit or loss for the period. In all other cases, deferred tax assets related to business combinations
shall be recognized and recognized in profit or loss for the period.
For business combinations under different controls that are implemented through multiple transactions in
stages and classified as "package transactions," accounting treatment shall be conducted in accordance with the
descriptions in the preceding paragraphs of this section and Note 3, Section 13, "Long-term Equity
Investments." For combinations not classified as "package transactions," separate accounting treatments shall be
applied to the individual financial statements and the consolidated financial statements.
In specific financial statements, the initial investment cost of an investment is determined by the sum of the
carrying amount of the equity investment held in the acquiree prior to the acquisition date and the additional
investment cost incurred on that date. If the equity held in the acquiree prior to the acquisition date involves
other comprehensive income, the related other comprehensive income shall be accounted for upon disposal of
the investment using the same basis as would be applied when the acquiree directly disposes of its assets or
liabilities (i.e., except for the corresponding share of changes resulting from the re-measurement of the defined
benefit plan's net liability or net asset under the equity method, the remainder is recognized in current period
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
investment income).
In the consolidated financial statements, equity held in the acquiree prior to the acquisition date shall be
remeasured at its fair value on that date, with the difference between the fair value and the carrying amount
recognized in current period investment income. Where such equity involves other comprehensive income, the
corresponding other comprehensive income shall be accounted for using the same basis as would apply to the
acquiree's direct disposal of related assets or liabilities (i.e., except for the corresponding share of changes in the
net liability or net asset of the defined benefit plan resulting from its remeasurement under the equity method,
the remainder shall be recognized in current period investment income attributable to the acquisition date).
(1) Criteria for Control Determination
The consolidation scope for financial statements is determined on a control basis. Control is defined as the
Company's possession of authority over the investee, enjoyment of variable returns through participation in the
investee's relevant activities, and the ability to influence the amount of such returns through the exercise of such
authority. This typically includes investee entities in which the parent company holds more than half of the
voting rights, and cases where the Company, although holding less than half of the voting rights, through
agreements with other investors of the investee, holds more than half of the voting rights; the Company's
authority under its articles of association or agreements to make financial and operational decisions for the
investee; its right to appoint or remove a majority of the members of the investee's board of directors; and its
control over the majority of voting rights in the investee's board of directors.
(2) Methodology for preparing consolidated financial statements
From the date when the Company obtains actual control over the net assets and operational decision-
making rights of a subsidiary, it begins to include the subsidiary within its consolidated financial statements; the
inclusion ceases upon loss of actual control. For subsidiaries disposed of, the operating results and cash flows
prior to the disposal date have been appropriately reflected in the consolidated income statement and
consolidated cash flow statement; for subsidiaries disposed of during the current period, no adjustments are
made to the opening balances of the consolidated balance sheet. For subsidiaries acquired in business
combinations under different controls, their operating results and cash flows after the acquisition date have been
properly included in the consolidated income statement and consolidated cash flow statement, with no
adjustments required to the opening balances or comparative figures of the consolidated financial statements.
For subsidiaries acquired in business combinations under common control, their operating results and cash
flows from the beginning of the period prior to the merger to the merger date have been appropriately reflected
in the consolidated income statement and consolidated cash flow statement, with corresponding adjustments
made to the comparative figures of the consolidated financial statements.
When preparing consolidated financial statements, if the accounting policies or accounting periods used by
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
the subsidiary differ from those of the parent company, the subsidiary's financial statements shall be adjusted in
accordance with the parent company's accounting policies and periods. For subsidiaries acquired through
business combinations under different controls, their financial statements shall be adjusted based on the fair
value of the identifiable net assets on the acquisition date.
All significant intercompany balances, transactions, and unrealized profits are offset when preparing the
consolidated financial statements.
The portion of the subsidiary's shareholders' equity and current net profit/loss not attributable to the parent
company is separately presented as minority interest and minority interest income under shareholders 'equity
and net profit in the consolidated financial statements. The share of the subsidiary's current net profit/loss
attributable to minority interests is disclosed under the "minority interest income" item within the net profit line
item of the consolidated income statement. If the loss attributable to minority interests exceeds their share of the
subsidiary's beginning shareholders' equity, this difference is still recorded as a reduction in minority interest.
When control over an original subsidiary is lost due to the disposal of partial equity investments or other
reasons, the remaining equity interests shall be remeasured at their fair value on the date of loss of control. The
difference between the consideration received from the equity disposal and the fair value of the remaining
equity interests, minus the share of the subsidiary's net assets accumulated continuously from the acquisition
date calculated based on the original equity ratio, shall be recognized as investment income for the period of
loss of control. Other comprehensive income related to the original equity investment shall be accounted for at
the same basis as the direct disposal of the acquired party's assets or liabilities (i.e., all amounts except those
arising from changes in the net liability or net assets of the original beneficial plan upon remeasurement) shall
be transferred to current investment income. Subsequently, the remaining equity interests shall be measured in
accordance with applicable accounting standards such as Accounting Standard for Business Enterprises No.2 –
Long-term Equity Investments or Accounting Standard for Business Enterprises No.22 – Recognition and
Measurement of Financial Instruments, as detailed in Note 3, Section 13 "Long-term Equity Investments" or
Note 3, Section 10 "Financial Instruments."
When a company gradually disposes of its equity investments in subsidiaries through multiple transactions
until losing control, it must determine whether each transaction constitutes a package transaction. The terms,
conditions, and economic impacts of these individual transactions typically meet one or more of the following
criteria, indicating that they should be accounted for as a package transaction: ① The transactions were
executed simultaneously or with mutual consideration; ② The transactions collectively achieve a complete
commercial outcome; ③ The occurrence of one transaction depends on the occurrence of at least one other
transaction; ④ An individual transaction is uneconomical but becomes economical when considered
collectively with other transactions. For transactions not constituting a package transaction, each transaction
shall be accounted for separately using the principles applicable to "partial disposal of long-term equity
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
investments in subsidiaries without loss of control" or "loss of control over an original subsidiary due to partial
equity disposal or other reasons." When the transactions constitute a package transaction, they shall be
accounted for as a single transaction involving subsidiary disposal and loss of control. However, any difference
between the transaction price at each disposal stage prior to loss of control and the investor's share of the
subsidiary's net assets shall be recognized as other comprehensive income in the consolidated financial
statements and transferred to the profit or loss at the time of loss of control.
A joint venture arrangement refers to an arrangement jointly controlled by two or more parties. Based on
the rights and obligations it enjoys within such an arrangement, the Company classifies joint venture
arrangements into joint operation arrangements and joint venture enterprises. A joint operation arrangement
refers to one in which the Company holds the relevant assets and assumes the relevant liabilities; a joint venture
enterprise refers to one in which the Company holds only the rights to the net assets of the arrangement.
The Company accounts for its investment in the joint venture using the equity method, in accordance with
the accounting policy specified in Note 3, Section 13(2)(ii), "Long-term Equity Investments accounted for
under the Equity Method."
As a joint venture partner in the joint operation, the Company recognizes the assets and liabilities solely
held or borne by the Company, as well as the jointly held assets and jointly borne liabilities based on the
Company's respective shares; recognizes the revenue generated from the sale of the Company's share of the
joint operation's output; recognizes the revenue arising from the sale of output under the joint operation based
on the Company's share; and recognizes the expenses incurred solely by the Company, as well as the expenses
incurred under the joint operation based on the Company's respective shares.
When the Company contributes or sells assets to the joint venture (such assets do not constitute business
operations, the same applies hereinafter), or purchases assets from the joint venture, prior to the sale of such
assets to a third party, the Company recognizes only the portion of the gains or losses arising from such
transaction attributable to the other participating parties in the joint venture. If such assets incur asset
impairment losses in accordance with the provisions of Accounting Standard for Business Enterprises No.8 –
Asset Impairment, the Company recognizes the full amount of such loss for contributions or sales made by the
Company to the joint venture, and recognizes the loss proportionally based on its share for purchases made from
the joint venture.
The Company's cash and cash equivalents consist of cash on hand, deposits readily available for payment,
and investments held by the Company that are short-term (typically maturing within three months from the
purchase date), highly liquid, easily convertible into a known amount of cash, and carry minimal value
fluctuation risk.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(1) Conversion method for foreign currency transactions
Foreign currency transactions conducted by the Company are converted into the local currency amount at
the spot exchange rate prevailing on the transaction date upon initial recognition. However, foreign currency
exchange operations or transactions involving foreign currency exchange are converted into the local currency
amount using the actual exchange rate applied.
(2) Conversion methods for foreign currency monetary items and foreign currency non-monetary items
On the balance sheet date, foreign currency monetary items are converted using the spot exchange rate
prevailing at that date. The resulting exchange differences shall be recognized in profit or loss of the current
period, except for: ① exchange differences arising from foreign currency special borrowings related to the
acquisition or construction of assets meeting capitalization criteria, which are treated in accordance with the
principle of capitalizing borrowing costs; ② exchange differences arising from changes in the carrying amounts
of foreign currency monetary items available for sale (excluding the amortized cost), which are recognized in
other comprehensive income.
Non-monetary foreign currency items measured at historical cost are measured in the accounting currency
amount converted using the spot exchange rate on the transaction date. Non-monetary foreign currency items
measured at fair value are converted using the spot exchange rate on the fair value determination date; the
difference between the converted accounting currency amount and the original accounting currency amount is
recognized as fair value changes (including exchange rate fluctuations), which are recorded in current period
profit or loss or recognized as other comprehensive income.
A financial asset or financial liability is recognized when the company becomes a party to a financial
instrument contract.
(1) Classification, Recognition and Measurement of Financial Assets
Based on its business model for managing financial assets and the contractual cash flow characteristics of
these assets, the Company categorizes financial assets into: financial assets measured at amortized cost;
financial assets measured at fair value with changes recognized in other comprehensive income; and financial
assets measured at fair value with changes recognized in profit or loss.
Financial assets are measured at fair value upon initial recognition. For financial assets measured at fair
value with their changes recognized in profit or loss, related transaction costs are directly recognized in profit or
loss; for other categories of financial assets, related transaction costs are included in the initial recognition
amount. For accounts receivable or notes receivable arising from the sale of products or provision of services
that do not contain or involve significant financing components, the Company recognizes the expected amount
receivable as the initial recognition amount.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
① Financial assets measured at amortized cost
The Company's business model for measuring financial assets at amortized cost is aimed at generating
contractual cash flows. The cash flow characteristics of such financial assets align with standard lending
arrangements, meaning that cash flows occurring on specific dates consist solely of principal payments and
interest calculated on the outstanding principal amount. For these financial assets, the Company applies the
effective interest method and subsequently measures them at amortized cost. Any gains or losses arising from
amortization or impairment are recognized in profit or loss for the period.
② Financial assets measured at fair value with changes recognized in other comprehensive income
The Company's business model for managing such financial assets combines both the objective of
collecting contractual cash flows and the objective of selling them, with the contractual cash flow characteristics
of these financial assets aligning with those of the underlying loan arrangements. The Company measures such
financial assets at fair value, with their changes recognized in other comprehensive income; however,
impairment losses or gains, exchange gains or losses, and interest income calculated using the effective interest
method are recognized in profit or loss for the period.
Furthermore, the Company classifies certain non-trading equity instrument investments as financial assets
measured at fair value with their changes recognized in other comprehensive income. Dividend income from
such financial assets is recognized in current period profit or loss, while fair value changes are recognized in
other comprehensive income. Upon derecognition of these financial assets, any cumulative gains or losses
previously recognized in other comprehensive income are transferred to retained earnings and are no longer
included in current period profit or loss.
③ Financial assets measured at fair value with changes recognized in profit or loss
The Company classifies the aforementioned financial assets measured at amortized cost and those financial
assets measured at fair value with their changes recognized in other comprehensive income as financial assets
measured at fair value with their changes recognized in current profit or loss. Furthermore, at initial recognition,
to eliminate or significantly reduce accounting mismatches, the Company designates certain financial assets as
financial assets measured at fair value with their changes recognized in current profit or loss. For such financial
assets, the Company subsequently measures them at fair value, with fair value changes recognized in current
profit or loss.
(2) Classification, Recognition and Measurement of Financial Liabilities
At initial recognition, financial liabilities are classified into financial liabilities measured at fair value
through profit or loss and other financial liabilities. For financial liabilities measured at fair value through profit
or loss, related transaction costs are directly recognized in profit or loss; for other financial liabilities, related
transaction costs are included in their initial recognition amount.
① Financial liabilities measured at fair value with changes recognized in profit or loss
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Financial liabilities measured at fair value with changes recognized in profit or loss include trading
financial liabilities (including derivative instruments classified as financial liabilities) and those designated at
initial recognition to be measured at fair value with changes recognized in profit or loss.
Subsequent measurement of transactional financial liabilities (including derivatives classified as financial
liabilities) adopts fair value; except for portions related to hedge accounting, changes in fair value are
recognized in current profit or loss.
Designated as financial liabilities measured at fair value with changes recognized in profit or loss, the fair
value changes arising from the Company's own credit risk are recognized in other comprehensive income. Upon
derecognition of such liabilities, the cumulative fair value changes attributable to the Company's own credit risk
are transferred to retained earnings, while the remaining fair value changes are recognized in profit or loss. If
applying this treatment would create or exacerbate accounting mismatches in the profit or loss, the Company
shall recognize all gains or losses on these financial liabilities (including the impact of the Company's own
credit risk changes) in profit or loss.
②Other financial liabilities
Other financial liabilities—excluding those arising from financial asset transfers that do not meet the
criteria for derecognition or from continued involvement in the transferred financial assets, as well as financial
guarantee contracts—are classified as financial liabilities measured at amortized cost. Such liabilities are
subsequently measured at amortized cost, and any gains or losses resulting from derecognition or amortization
are recognized in profit or loss for the period.
(3) Basis for Recognition and Measurement Methods of Financial Asset Transfers
A financial asset shall be derecognized if any of the following conditions is met: ① The contractual right
to receive cash flows from the financial asset has terminated; ② The financial asset has been transferred, with
nearly all risks and rewards associated with its ownership transferred to the transferee; ③ The financial asset
has been transferred, and although the enterprise has neither transferred nor retained nearly all risks and rewards
associated with its ownership, it has relinquished control over the financial asset.
If an enterprise neither transfers nor retains nearly all the risks and rewards associated with the ownership
of a financial asset, nor relinquishes its control over that financial asset, then the relevant financial asset shall be
recognized based on the extent of its continued involvement with the transferred financial asset, and the
corresponding liability shall be recognized accordingly. The extent of continued involvement refers to the level
of risk faced by the enterprise due to fluctuations in the value of the financial asset.
When the overall transfer of financial assets meets the conditions for derecognition, the difference between
the carrying amount of the transferred financial assets and the consideration received from the transfer, and the
cumulative fair value change previously recognized in other comprehensive income, shall be recognized in
profit or loss for the period.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
When partial transfer of financial assets meets the conditions for derecognition, the carrying amount of the
transferred financial assets shall be allocated between the derecognized portion and the remaining portion based
on their respective fair values. The difference between the consideration received from the transfer and the
cumulative fair value changes originally recognized in other comprehensive income that are allocated to the
derecognized portion, minus the allocated carrying amounts, shall be recognized in profit or loss for the period.
For financial assets sold with recourse or transferred by endorsement, the company must determine
whether nearly all risks and rewards associated with ownership of the financial asset have been transferred. If
nearly all risks and rewards associated with ownership have been transferred to the transferee, the recognition of
the financial asset shall be terminated; if nearly all risks and rewards remain retained, the recognition shall not
be terminated; if neither transfer nor retention of nearly all risks and rewards has occurred, the company shall
continue to assess whether it retains control over the asset and apply the accounting treatment principles
outlined in the preceding paragraphs.
(4) Termination of Recognition of Financial Liabilities
When the current obligation under a financial liability (or a portion thereof) has been discharged, the
Company derecognizes that financial liability (or that portion thereof). If the Company (the borrower) enters
into an agreement with the lender to replace the original financial liability with a new one, and the contractual
terms of the new financial liability are substantially different from those of the original, the Company
derecognizes the original financial liability and simultaneously recognizes a new financial liability. If the
Company makes substantial modifications to the contractual terms of the original financial liability (or a portion
thereof), the Company derecognizes the original financial liability and recognizes a new financial liability under
the modified terms.
When financial liabilities (or a portion thereof) are derecognized, the Company recognizes the difference
between their carrying amount and the consideration paid (including transferred non-cash assets or assumed
liabilities) in profit or loss for the period.
(5) Offsetting of financial assets and financial liabilities
When the Company has a statutory right to offset recognized amounts of financial assets and financial
liabilities, and such statutory right is currently enforceable, and the Company plans to settle the financial assets
and settle the financial liabilities simultaneously at net value, the financial assets and financial liabilities shall be
presented on the balance sheet at their net amount after mutual offset. Otherwise, financial assets and financial
liabilities shall be presented separately on the balance sheet without mutual offset.
(6) Methods for determining the fair value of financial assets and financial liabilities
Fair value refers to the price that market participants would receive from selling an asset or pay to transfer
a liability in an orderly transaction on the measurement date. Where financial instruments have active markets,
the Company determines their fair value using quotes from such markets. Active market quotes are prices
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
readily available periodically from exchanges, brokers, industry associations, and pricing service providers,
reflecting actual market transactions conducted in fair dealing. For financial instruments without active markets,
the Company employs valuation techniques to determine fair value. These techniques include referencing prices
from recent market transactions conducted by knowledgeable and voluntary parties, referencing the current fair
values of substantially similar financial instruments, applying the discounted cash flow method, and using
option pricing models. In conducting valuations, the Company selects valuation techniques applicable under
current circumstances and supported by sufficient available data and information, choosing input values
consistent with those considered by market participants in transactions involving the relevant assets or liabilities,
with priority given to observable inputs whenever possible. When observable inputs are unavailable or
impractical to obtain, non-observable inputs are utilized.
The Company applies impairment accounting treatment and recognizes loss provisions for financial assets
measured at amortized cost (including receivables), financial assets classified as measured at fair value with
changes recognized in other comprehensive income (including receivables financing), and lease receivables,
based on expected credit losses.
At each balance sheet date, the Company assesses whether the credit risk of relevant financial instruments
has increased significantly since initial recognition. The process of credit impairment for financial instruments
is divided into three stages, with distinct accounting treatment applied to impairments at each stage: (1) Stage 1:
If the credit risk of a financial instrument has not increased significantly since initial recognition, the Company
measures the loss provision based on the expected credit loss over the next 12 months and calculates interest
income using its carrying amount (i.e., before impairment provision) and the actual interest rate; (2) Stage 2: If
the credit risk has increased significantly since initial recognition but no credit impairment has occurred, the
Company measures the loss provision based on the expected credit loss over the entire life of the financial
instrument and calculates interest income using its carrying amount and the actual interest rate; (3) Stage 3: If
credit impairment occurs after initial recognition, the Company measures the loss provision based on the
expected credit loss over the entire life of the financial instrument and calculates interest income using its
amortized cost (carrying amount minus the accrued impairment provision) and the actual interest rate.
(1) Method for measuring loss provisions for financial instruments with lower credit risk
For financial instruments with low credit risk at the balance sheet date, the Company may refrain from
comparing them with their credit risk at initial recognition and instead directly assume that the credit risk of
such instruments has not increased significantly since initial recognition.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
If a financial instrument carries low default risk, the debtor demonstrates strong short-term capacity to
meet its contractual cash flow obligations, and even adverse economic or operational conditions over an
extended period do not necessarily impair the borrower's ability to fulfill these obligations, the instrument is
considered to have low credit risk.
(2) Method for measuring loss provisions for accounts receivable and lease receivables
① Receivables without significant financing components. For receivables arising from transactions governed
by Accounting Standard for Business Enterprises No.14 – Revenue that do not contain significant financing
components, the Company adopts a simplified approach, measuring loss provisions consistently based on
expected credit losses over the entire life cycle.
Based on the nature of financial instruments, the Company assesses whether credit risk has increased
significantly by evaluating individual financial assets or portfolios thereof. Receivable notes and accounts
receivable are categorized into specific portfolios according to their credit risk characteristics, and expected
credit losses are calculated on a portfolio basis. The criteria for portfolio determination are as follows:
accounts receivable portfolio 1: Portfolio of related parties within the consolidated scope
Accounts Receivable Portfolio 2: Age Group Portfolio
receivables bill portfolio 1: receivable bank acceptance bills
receivables bill portfolio 2: Commercial acceptance bills receivable
For accounts receivable classified as portfolios, the Company refers to historical credit loss experience,
combined with the current situation and forecasts for future economic conditions, to prepare a comparison table
between the aging of accounts receivable and the expected credit loss rate over their entire life cycle, thereby
calculating the expected credit loss. For accounts receivable notes classified as portfolios, the Company also
utilizes historical credit loss experience, along with the current situation and forecasts for future economic
conditions, to calculate the expected credit loss based on default risk exposure and the expected credit loss rate
over their entire life cycle.
Accounts Receivable – Comparison Table of Age Groups and the Expected Credit Loss Rate Over Their Full
Life Cycle
Account Age Expected credit loss rate of accounts receivable (%)
Within 1 year (inclusive, same below) 1.00
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Account Age Expected credit loss rate of accounts receivable (%)
More than 5 years 100.00
② Receivables and lease receivables containing significant financing components.
For receivables involving significant financing components and lease receivables governed by Accounting
Standard for Business Enterprises No.21 – Leasing, the Company measures loss provisions using the general
method, namely the "three-stage" model.
(3) Methods for measuring loss provisions on other financial assets
For financial assets other than those mentioned above—such as debt investments, other debt investments,
other receivables, and long-term receivables excluding lease receivables—the Company measures loss
provisions using the general method, namely the "three-stage" model.
When measuring credit impairment on financial instruments, our company considers the following factors
to determine whether credit risk has increased significantly:
The Company categorizes other receivables into several portfolios based on the nature of the amounts, and
calculates expected credit losses on a portfolio basis. The criteria for portfolio determination are as follows:
Other Receivables Portfolio 1: Portfolio of Related Parties within the Consolidated Scope
Other Receivables Portfolio 2: Financing Margin Portfolio
Other Receivables Portfolio 3: Export Tax Refund Receivables Portfolio
To reflect changes in the credit risk of financial instruments after initial recognition, the Company re-
measures expected credit losses at each balance sheet date. The resulting increases or reversals in loss
provisions shall be recognized as impairment losses or gains in the current period's profit or loss. Depending on
the type of financial instrument, these amounts shall either reduce the carrying amount of the financial asset on
the balance sheet or be recognized as estimated liabilities or as other comprehensive income (for debt
investments measured at fair value with changes recognized in other comprehensive income).
(1) Classification of Inventory
Inventories refer to the finished goods or commodities held by the Company for sale in its daily operations,
work-in-progress items, and materials consumed during production or service delivery. These primarily include
raw materials, consumables (such as packaging materials and low-value consumables), materials processed
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
under contract, work-in-progress, self-manufactured semi-finished products, and finished goods (merchandise
inventory).
(2) Pricing Method Used for Issuance
When inventory is issued, the actual cost is determined using the weighted average method at the end of the
month.
(3) The inventory counting system adopts the perpetual inventory method.
(4) Amortization method for low-value consumables and packaging materials
Low-value consumables are amortized using the straight-line method upon requisition; packaging materials
are also amortized using the straight-line method upon requisition.
(3) Criteria for Recognition and Provision Method for Inventory Impairment Losses
On the balance sheet date, inventory is measured at the lower of cost and net realizable value, with
impairment provisions calculated for each individual inventory item. For inventories that are numerous and
have low unit prices, impairment provisions are calculated based on inventory category.
On the balance sheet date, inventory is measured at the lower of cost and net realizable value, with
inventory impairment provisions recognized based on the difference between the cost and net realizable value
for each inventory category. For inventory directly intended for sale, its net realizable value is determined
during normal operations as the estimated selling price minus estimated selling expenses and relevant taxes. For
inventory requiring processing, its net realizable value is determined during normal operations as the estimated
selling price of the finished products minus estimated costs, selling expenses, and relevant taxes incurred until
completion. On the balance sheet date, for each component of the same inventory that has a contract price and
those without a contract price, their respective net realizable values are determined and compared with their
corresponding costs to calculate the amount of inventory impairment provisions to be recognized or reversed.
The term "long-term equity investments" referred to in this section denotes those in which the Company
holds controlling, jointly controlling, or significant influence over the investee entity. Long-term equity
investments in which the Company does not hold controlling, jointly controlling, or significant influence are
accounted for as financial assets measured at fair value with changes recognized in profit or loss. For non-
trading investments, the Company may, at initial recognition, choose to classify them as financial assets
measured at fair value with changes recognized in other comprehensive income. The accounting policy is
detailed in Note 3, Section 10, "Financial Instruments."
Joint control refers to the Company's shared control over a specific arrangement under relevant agreements,
where decisions regarding activities under such arrangement require unanimous consent from all parties sharing
control rights. Significant influence means the Company has the authority to participate in decision-making
regarding the financial and operational policies of the investee entity, but lacks either sole control or joint
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
control with other parties over the formulation of these policies.
(1) Determination of Investment Costs
For long-term equity investments acquired through business combinations under common control, the
initial investment cost shall be determined on the combination date based on the share of the acquirer's equity
book value in the ultimate controlling party's consolidated financial statements. The difference between the
initial investment cost and the sum of cash payments, transferred non-cash assets, and assumed debt book
values shall be allocated to capital reserves; if capital reserves are insufficient, the difference shall be adjusted
against retained earnings. Where equity securities are issued as consideration for the combination, the initial
investment cost shall be calculated based on the acquirer's equity share in the ultimate controlling party's
consolidated financial statements, with the total par value of issued shares recognized as share capital. The
difference between the initial investment cost and the total par value of issued shares shall be allocated to
capital reserves; if capital reserves are insufficient, the difference shall be adjusted against retained earnings.
For long-term equity investments acquired through business combinations under different controls, the
acquisition cost shall be recognized as the initial investment cost on the acquisition date. The consolidation cost
comprises the sum of assets contributed by the acquirer, liabilities incurred or assumed, and the fair value of
issued equity securities.
The intermediary fees incurred during business combinations—such as audit services, legal services,
valuation consulting, and other related administrative expenses—along with those of the merging entity or
purchaser, shall be recognized in profit or loss at the time of occurrence.
For other equity investments other than those arising from business combinations, the initial measurement
is made at cost. This cost is determined based on the method of acquisition of the long-term equity investment,
using either the actual cash payment made by the Company, the fair value of equity securities issued by the
Company, the value specified in the investment contract or agreement, the fair value or original carrying
amount of the assets exchanged in non-monetary asset transactions, or the fair value of the long-term equity
investment itself. Expenses, taxes, and other necessary expenditures directly related to the acquisition of the
long-term equity investment are also included in the investment cost.
(2) Subsequent Measurement and Profit/Loss Recognition Method
Long-term equity investments in investee entities that are jointly controlled (excluding cases where they
constitute joint operators) or significantly influenced shall be accounted for using the equity method.
Additionally, long-term equity investments in which the company exercises control over the investee entity may
be accounted for using the cost method in its financial statements.
① Long-term equity investments accounted for using the cost method
When using the cost method for accounting, long-term equity investments are valued at their initial
investment cost, with adjustments made to the cost upon additional investments or investment withdrawals.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Excluding cash dividends or profits declared but not yet distributed included in the actual payment or
consideration received upon investment acquisition, current investment income is recognized based on the cash
dividends or profits declared and distributed by the investee entity.
② Long-term equity investments accounted for using the equity method
When using the equity method for accounting, if the initial investment cost of a long-term equity
investment exceeds the investor's share of the fair value of the investee's identifiable net assets at the time of
investment, the initial investment cost shall not be adjusted; if the initial investment cost is less than the
investor's share of the fair value of the investee's identifiable net assets at the time of investment, the difference
shall be recognized in profit or loss for the period, and the cost of the long-term equity investment shall be
adjusted accordingly.
When applying the equity method of accounting, investment income and other comprehensive income are
recognized separately based on the investor's share of the investee's net profit or loss and other comprehensive
income, while simultaneously adjusting the carrying amount of long-term equity investments. The investor's
share of profits or cash dividends declared by the investee reduces the carrying amount of long-term equity
investments accordingly. For all other changes in the investee's owners 'equity excluding net profit/loss, other
comprehensive income, and profit distribution, the carrying amount of long-term equity investments is adjusted
and recorded in capital reserves. The recognition of the investor's share of the investee's net profit/loss is based
on the fair value of identifiable assets at the time of investment, adjusted against the investee's net profit. Where
the investee adopts accounting policies or fiscal periods differing from those of the parent company, the
investee's financial statements are adjusted in accordance with the parent company's policies and periods, and
investment income 及其他 comprehensive income are determined accordingly. For transactions between the
parent company and associates or joint ventures, if the assets disposed of do not constitute business operations,
unrealized internal transaction gains or losses are offset by the parent company's share calculated proportionally,
upon which investment income and other comprehensive income are recognized. However, unrealized internal
transaction losses between the parent company and the investee that constitute impairment losses on transferred
assets are not offset.
When recognizing the shareable portion of the net loss incurred by the investee, the recognition shall be
limited to the book value of the long-term equity investment and the reduction of other long-term interests that
substantially constitute a net investment in the investee to zero. Furthermore, if the Company has an obligation
to bear additional losses for the investee, an estimated liability shall be recognized and recorded as an
investment loss for the current period. If the investee generates net profit in subsequent periods, the Company
shall resume recognizing the share of profit after offsetting the unconfirmed loss-sharing amount against the
share of profit.
③ Acquisition of minority equity
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
When preparing consolidated financial statements, the difference between the newly added long-term
equity investment resulting from the acquisition of minority interests and the subsidiary's net asset share
calculated based on the new shareholding ratio, which is continuously accrued from the acquisition date (or
consolidation date), shall be adjusted against the capital reserve. If the capital reserve is insufficient, the
difference shall be offset against retained earnings.
④ Disposal of long-term equity investments
In consolidated financial statements, when the parent company partially disposes of its long-term equity
investments in subsidiaries without losing control, the difference between the disposal proceeds and the
subsidiary's net assets corresponding to the disposed long-term equity investment is recognized in shareholders'
equity. If the partial disposal results in the parent company losing control over the subsidiary, the transaction
shall be accounted for in accordance with the relevant accounting policies specified in Note 3, Section 6,
Subparagraph (2) of this document, "Method of Preparation of Consolidated Financial Statements."
For the disposal of long-term equity investments under other circumstances, the difference between the
carrying value of the disposed equity and the actual consideration received shall be recognized in profit or loss
for the period.
For long-term equity investments accounted for using the equity method, if the remaining equity interests
after disposal continue to be accounted for using the equity method, the portion of other comprehensive income
originally recorded in shareholders 'equity shall be accounted for at the corresponding ratio using the same basis
as that applied when the investee directly disposed of related assets or liabilities at the time of disposal. All
changes in owners' equity attributable to the investee's owner's equity other than net profit or loss, other
comprehensive income, and profit distribution shall be transferred to the current period profit or loss in
proportion.
For long-term equity investments accounted for using the cost method, if the remaining equity after
disposal continues to be accounted for using the cost method, the other comprehensive income recognized prior
to obtaining control over the investee—whether from the equity method or from the financial instruments
recognition and measurement standards—shall be accounted for using the same basis as the direct disposal of
related assets or liabilities of the investee and transferred proportionally to current period profit or loss; all other
changes in owners 'equity within the investee's net assets recognized under the equity method, excluding net
profit or loss, other comprehensive income, and profit distribution, shall also be transferred proportionally to
current period profit or loss.
When a company loses control over an investee due to the disposal of a portion of its equity investments,
and the remaining equity after disposal can exercise joint control or significant influence over the investee
during the preparation of individual financial statements, the equity method shall be applied, with the remaining
equity adjusted as if it had been accounted for using the equity method from acquisition. If the remaining equity
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
after disposal cannot exercise joint control or significant influence over the investee, accounting treatment shall
comply with the relevant provisions of the Financial Instruments Recognition and Measurement Standards, and
the difference between the fair value and book value of the equity at the date of loss of control shall be
recognized in profit or loss for the period. For other comprehensive income recognized prior to the company
obtaining control over the investee under either the equity method or the Financial Instruments Recognition and
Measurement Standards, the accounting treatment shall follow the same basis as the direct disposal of related
assets or liabilities by the investee upon loss of control. All changes in owners 'equity attributable to the equity
method—excluding net profit/loss, other comprehensive income, and profit distribution—shall be transferred to
profit or loss upon loss of control. Specifically: if the remaining equity after disposal is accounted for using the
equity method, other comprehensive income and other owners' equity are transferred proportionally; if the
remaining equity is accounted for under the Financial Instruments Recognition and Measurement Standards,
both other comprehensive income and other owners' equity are fully transferred.
When a company loses joint control or significant influence over an investee due to the disposal of a
portion of its equity investment, the remaining equity interest after disposal shall be accounted for in accordance
with the Financial Instruments Recognition and Measurement Standards. The difference between the fair value
and the carrying value of the equity interest on the date of loss of joint control or significant influence shall be
recognized in profit or loss for the period. Other comprehensive income recognized from the original equity
investment under the equity method shall be accounted for under the same basis as the direct disposal of related
assets or liabilities by the investee upon termination of the equity method. All changes in owners 'equity
attributable to the investee's own equity other than net profit or loss, other comprehensive income, and profit
distribution shall be fully transferred to investment income for the period upon termination of the equity method.
Investment property refers to real estate held for the purpose of generating rental income, capital
appreciation, or both. This includes leased land use rights, land use rights held with plans for appreciation and
subsequent transfer, and leased buildings.
Investment property is initially measured at cost. Subsequent expenditures related to investment property
shall be included in the cost of the asset if the economic benefits associated with the asset are likely to flow and
the cost can be reliably measured. Other subsequent expenditures shall be recognized in profit or loss at the time
they occur.
When an investment property is disposed of, permanently withdrawn from use, and it is expected that no
economic benefits will be derived from its disposal, the recognition of such investment property is terminated.
The proceeds from the disposal of an investment property—whether through sale, transfer, scrapping, or
damage—after deducting its carrying amount and relevant taxes and fees shall be recognized in the current
period's profit or loss.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(1) Conditions for recognizing fixed assets
Fixed assets refer to tangible assets held for the purpose of producing goods, providing services, leasing, or
operating and managing, with a useful life exceeding one accounting year. Fixed assets are recognized only
when it is probable that the economic benefits associated with them will flow to the company and their costs
can be reliably measured. Fixed assets are initially measured at cost, taking into account the impact of estimated
disposal costs.
(2) Depreciation methods for various types of fixed assets
For fixed assets, depreciation is calculated using the straight-line method over their service life, starting
from the month following the achievement of the intended usable condition. The service life, estimated residual
value, and annual depreciation rate for various types of fixed assets are as follows:
ratio of yearly
method of Depreciation
class remaining depreciation
depreciation period (years)
value （%） （%）
Houses and Buildings Annual Average 15-35 3.00 2.77-6.47
Method
machinery equipment Annual Average 10-15 3.00 6.47-9.70
Method
conveyance Annual Average 6-8 3.00 12.13-16.17
Method
Electronic Equipment Annual Average 4-11 3.00 8.82-24.25
Method
other Annual Average 4-11 3.00 8.82-24.25
Method
The estimated residual value refers to the amount obtained by the Company from the disposal of an asset
after deducting estimated disposal costs, assuming the fixed asset has reached the end of its estimated useful life
and is in its expected condition at that point.
(3) Methods for impairment testing of fixed assets and methods for making impairment provisions
For details on the impairment testing methods for fixed assets and the impairment provision calculation
methods, refer to Note 3, Section 19 "Impairment of Long-term Assets".
(4) Other Notes
Subsequent expenditures related to fixed assets shall be recognized in the cost of the fixed asset if the
economic benefits associated with the asset are likely to flow and their costs can be reliably measured, thereby
eliminating the carrying amount of the replaced portion. All other subsequent expenditures shall be recognized
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
in profit or loss at the time they occur.
When a fixed asset is being disposed of or is expected to generate no economic benefits through use or
disposal, its recognition is terminated. The difference between the disposal proceeds from the sale, transfer,
scrapping, or damage of the fixed asset and its carrying amount, after deducting relevant taxes and fees, is
recognized in profit or loss for the period.
The Company shall review the service life, estimated net residual value, and depreciation method of fixed
assets at least once at the end of each fiscal year. Any changes made shall be treated as adjustments to
accounting estimates.
The Company's construction-in-progress projects are categorized into two types: self-construction and
contracted construction. Upon completion of the projects and attainment of their intended usable condition, they
are recognized as fixed assets. The determination of the intended usable condition shall meet one of the
following criteria: (1) The physical construction (including installation) of the fixed asset has been fully
completed or substantially completed; (2) The asset has undergone trial production or trial operation, with
results demonstrating its ability to operate normally or produce qualified products stably; or (3) The trial
operation results indicate its capability for normal operation or business activities; (4) Expenditures on the fixed
asset under construction are minimal or virtually non-existent; or (5) The acquired fixed asset meets the design
or contractual requirements, or is substantially consistent with such requirements.
When the construction-in-progress reaches its intended usable condition, it is transferred to fixed assets at
the project's actual cost. For projects that have reached the intended usable condition but have not yet completed
final accounting, they are initially recorded as fixed assets at estimated value; the original provisional estimate
is adjusted to reflect the actual cost after final accounting is completed, while previously accrued depreciation
remains unchanged.
For details on the impairment testing methodology and impairment provision calculation method for
construction in progress, refer to Note 3, Section 19 "Impairment of Long-term Assets."
Loan costs comprise borrowing interest, amortization of discounts or premiums, ancillary expenses, and
exchange differences arising from foreign currency borrowings. Loan costs directly attributable to the
acquisition, construction, or production of assets meeting capitalization criteria shall be capitalized when asset
expenditures have been incurred, borrowing costs have been recognized, and the necessary acquisition,
construction, or production activities to bring the asset to its intended usable or saleable state have commenced;
capitalization shall cease when such assets reach their intended usable or saleable state. Other borrowing costs
are recognized as expenses in the period in which they are incurred.
For special loans, the actual interest expenses incurred during the period shall be capitalized after
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
deducting the interest income generated from depositing unused loan funds in banks or the investment returns
obtained from temporary investments. For general loans, the capitalizable amount is determined by multiplying
the weighted average of cumulative asset expenditures exceeding those of special loans by the capitalization
rate applicable to the utilized general loans. The capitalization rate is calculated based on the weighted average
interest rate of general loans.
During the capitalization period, all exchange differences on foreign currency special loans are capitalized;
exchange differences on foreign currency general loans are recognized in profit or loss for the period.
Assets meeting capitalization criteria refer to fixed assets, investment properties, and inventories that
require a considerable period of acquisition, construction, or operational activities to reach their intended usable
or saleable state.
If an asset meeting capitalization criteria experiences an abnormal interruption during its acquisition,
construction, or production process, and the interruption lasts continuously for more than three months, the
capitalization of borrowing costs shall be suspended until the asset's acquisition, construction, or production
activities resume.
Assets meeting capitalization criteria refer to fixed assets, investment properties, and inventories that
require a considerable period of acquisition, construction, or operational activities to reach their intended usable
or saleable state.
(1) Intangible Assets
Intangible assets refer to identifiable non-monetary assets owned or controlled by the Company that lack
physical form.
Intangible assets are initially measured at cost. Expenditures related to intangible assets are recognized in
the cost of the intangible assets if the associated economic benefits are likely to flow to the company and their
costs can be reliably measured. Expenditures on other items are recognized in profit or loss at the time they
occur.
The acquired land use rights are typically accounted for as intangible assets. When a company
independently develops and constructs buildings such as factory facilities, the related land use right
expenditures and building construction costs are accounted for separately as intangible assets and fixed assets,
respectively. For purchased buildings and structures, the corresponding purchase price is allocated between the
land use rights and the buildings; if an equitable allocation is not feasible, the entire amount is treated as fixed
assets.
For intangible assets with a finite useful life, the amortization base is calculated as the original cost minus
the estimated net residual value and the cumulative amount of impairment provisions accumulated, and
amortization is performed on an average basis over the estimated useful life using the straight-line method from
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
the point when the asset becomes available for use. Intangible assets with an indefinite useful life are not
amortized.
The useful life, determination basis, and amortization method for intangible assets with finite useful lives
are as follows:
project life length Amortization Method
software 3-10 Linear method for stage averaging
land use right 40-50 Linear method for stage averaging
At the end of the period, the useful life and amortization method of intangible assets with a finite
useful life are reviewed; any changes are treated as adjustments to accounting estimates. Additionally, the
useful life of intangible assets with an indefinite useful life is reviewed. If evidence indicates that the period
during which the intangible asset generates economic benefits is foreseeable, its useful life is estimated and
amortized using the amortization method applicable to intangible assets with a finite useful life.
(2) Research and Development Expenses
The expenditures for our company's internal research and development projects are categorized into
research phase expenditures and development phase expenditures.
Expenses incurred during the research phase are recognized in profit or loss for the period in which they
occur.
The scope of R&D expenditure aggregation for our company includes materials consumed for R&D,
intermediate trial costs, travel expenses, design fees, depreciation and amortization, employee compensation,
and other items.
The company's specific criteria for distinguishing between research phase expenditures and development
phase expenditures in internal R&D projects:
The research phase refers to the stage of conducting original, planned investigations and research activities
aimed at acquiring and understanding new scientific or technological knowledge; the development phase
involves applying research findings or other knowledge to specific plans or designs prior to commercial
production or application, resulting in the creation of new or substantially improved materials, devices, or
products.
Expenses incurred during the development phase shall be recognized as intangible assets if all the
following conditions are met; otherwise, such expenses shall be recognized in profit or loss for the current
period.
① It is technically feasible to complete the intangible asset so that it can be used or sold;
② Intends to complete the acquisition of the intangible asset and use or sell it;
③ The ways in which intangible assets generate economic benefits include: demonstrating that products
manufactured using such assets have a market, or that the intangible assets themselves have a market; or, when
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
the assets are used internally, proving their utility.
④ Possess sufficient technical, financial, and other resources to complete the development of the
intangible asset, and have the capability to utilize or sell it;
⑤ The expenditures incurred during the development stage of this intangible asset can be reliably
measured.
Where it is impossible to distinguish between expenditures incurred during the research phase and those
during the development phase, all research and development expenditures shall be included in the current
period's profit or loss.
(3) Methods for testing impairment of intangible assets and for recognizing impairment losses
For details on the impairment testing methods for intangible assets and the impairment provision
calculation methods, refer to Note 3, Section 19 "Impairment of Long-term Assets".
For non-current non-financial assets—including fixed assets, construction in progress, intangible assets
with finite useful lives, right-of-use assets, investment properties measured at cost, and long-term equity
investments in subsidiaries, joint ventures, and associates—the Company assesses for impairment indications
on the balance sheet date. Where impairment indications exist, the recoverable amount is estimated and an
impairment test is conducted. Goodwill, intangible assets with indefinite useful lives, and intangible assets that
have not yet reached their usable state undergo annual impairment testing regardless of the presence of
impairment indications.
The impairment assessment results indicate that when an asset's recoverable amount falls below its
carrying value, an impairment loss is recognized based on the difference. The recoverable amount is defined as
the higher of: the net amount of the asset's fair value less disposal costs, or the present value of the asset's
estimated future cash flows. The fair value of an asset is determined by the transaction price in a fair market
transaction; where no transaction agreement exists but the asset has an active market, the fair value is
determined by the highest bid price; where neither a transaction agreement nor an active market exists, the fair
value is estimated using the best available information. Disposal costs include legal fees, applicable taxes,
handling charges, and direct expenses incurred to prepare the asset for sale. The present value of future cash
flows is calculated by discounting the projected cash flows generated during the asset's useful life and upon
final disposal using an appropriate discount rate. Impairment provisions are calculated and recognized on an
individual asset basis; when estimating the recoverable amount of an individual asset is difficult, the
recoverable amount is determined for the asset group to which the asset belongs—the smallest identifiable
group of assets capable of generating independent cash flows.
Goodwill separately presented in financial statements shall, during impairment testing, have its carrying
amount allocated to the asset groups or combinations of asset groups expected to benefit from the synergies
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
arising from the business combination. If the test results indicate that the recoverable amount of the asset group
or combination of asset groups containing the allocated goodwill is lower than its carrying amount, the
corresponding impairment loss shall be recognized. The impairment loss amount shall first be deducted from
the carrying amount of the goodwill allocated to that asset group or combination, and then proportionally
deducted from the carrying amounts of the other assets within the asset group or combination based on their
respective share of the total carrying amount excluding goodwill.
Once the aforementioned asset impairment loss is recognized, the portion of value recovered cannot be
reversed in subsequent periods.
Long-term prepaid expenses refer to various costs that have already been incurred but should be allocated
over the reporting period and subsequent periods, with an amortization period exceeding one year. The
Company's long-term prepaid expenses primarily consist of renovation costs. These expenses are amortized
using the straight-line method over their estimated benefit period.
Contract liabilities refer to the obligation of the Company to deliver goods to customers for which the
Company has received or is due to receive consideration from them. If the customer has paid the contract
consideration or the Company has acquired an unconditional right to receive payment prior to the delivery of
goods, the Company recognizes such received or receivable amounts as contract liabilities at the earlier of the
customer's actual payment date or the due payment date. Contract assets and contract liabilities under the same
contract are presented on a net basis; those under different contracts are not offset against each other.
The company's employee compensation primarily consists of short-term employee compensation, post-
employment benefits, termination benefits, and other long-term employee benefits. Specifically:
Short-term compensation primarily includes wages, bonuses, allowances and subsidies, employee welfare
expenses, medical insurance premiums, maternity insurance premiums, work-related injury insurance premiums,
housing provident fund contributions, trade union funds, employee education funds, and non-monetary benefits.
During the accounting period in which employees provide services to the company, the actual short-term
employee compensation incurred is recognized as a liability and recorded in the current period's profit or loss or
the cost of related assets. Non-monetary benefits are measured at fair value.
Post-employment benefits primarily include basic pension insurance, unemployment insurance, and
annuities. Post-employment benefit plans consist of defined contribution plans and defined benefit plans. For
defined contribution plans, the corresponding contribution amounts are recognized either as part of the asset
cost or recorded in the current period's profit or loss upon occurrence.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
When terminating the employment relationship with an employee before the expiration of the labor
contract, or when proposing compensation to encourage voluntary workforce reduction, the employee
compensation liability arising from such termination shall be recognized and recognized in profit or loss at the
earlier of: (1) the date on which the company cannot unilaterally withdraw the termination benefits provided
under the employment termination plan or reduction proposal; or (2) the date on which the company confirms
the costs associated with the restructuring involving the payment of such termination benefits. However, if the
termination benefits are not expected to be fully paid within twelve months following the end of the annual
reporting period, they shall be treated as other long-term employee benefits.
The internal employee retirement plan follows the same principles as the aforementioned severance
benefits. For employees who opt for early retirement, the company will recognize the wages payable and social
insurance contributions accrued from the date of service termination until the normal retirement date as current
period expenses (severance benefits) when the conditions for recognizing estimated liabilities are met.
Other long-term employee benefits provided by the Company shall be accounted for under the defined
contribution plan where applicable, and otherwise under the defined benefit plan.
When obligations arising from contingent matters such as external guarantees, litigation matters, product
quality guarantees, or loss contracts become current obligations assumed by the Company, and the fulfillment
of such obligations is likely to result in an outflow of economic benefits from the Company, with the amount of
these obligations being reliably measurable, the Company recognizes such obligations as estimated liabilities.
The Company initially measures its estimated liabilities based on the best estimate of expenditures required
to fulfill relevant current obligations and reviews the carrying amount of these liabilities at the balance sheet
date.
If the entire or partial expenditure required to settle an estimated liability is expected to be compensated by
a third party, the compensation amount shall be recognized separately as an asset when it is essentially certain
that it will be received, provided that the recognized compensation amount does not exceed the carrying amount
of the estimated liability.
The Company recognizes revenue when fulfilling its performance obligations under the contract—that is,
upon the customer obtaining control of the relevant goods or services—in accordance with the transaction price
allocated to such performance obligation. Acquisition of control of the relevant goods refers to the ability to
dominate their use and derive nearly all economic benefits therefrom. A performance obligation denotes the
Company's commitment under the contract to transfer clearly identifiable goods to the customer. The
transaction price represents the amount of consideration the Company expects to receive for transferring the
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
goods to the customer, excluding payments received on behalf of a third party and amounts the Company
expects to refund to the customer.
Whether a performance obligation is fulfilled over a specific period or at a specific point in time depends
on the contract terms and relevant legal provisions. If the obligation is fulfilled over a period, the Company
recognizes revenue based on the progress of performance. Otherwise, the Company recognizes revenue at the
point when the customer obtains control of the relevant assets.
For performance obligations stipulated in sales contracts for engineering construction and maintenance
services that meet the condition of "performance within a specified period," revenue is recognized based on the
progress of performance, unless the progress cannot be reasonably determined. The Company uses the input
method to determine the contract performance progress as the ratio of the cumulative contract costs incurred to the
contract target cost. If the progress cannot be reasonably determined but the incurred costs are expected to be fully
recovered, the Company recognizes revenue based on the amount of incurred costs until the progress can be
reasonably determined.
The sales of video conferencing products, integrated wiring products, intelligent electrical products,
communication infrastructure products, and other products constitute performance obligations fulfilled at a
specific point in time. Revenue recognition for these products requires the following conditions: the company
has delivered the products to the buyer as stipulated in the contract and obtained the buyer's acceptance; the
product sales revenue amount has been determined; payment has been received or payment vouchers have been
obtained; it is probable that the related economic benefits will materialize; and the costs associated with the
products can be reliably measured.
Contract costs are divided into contract performance costs and contract acquisition costs.
The costs incurred by the Company in fulfilling the contract shall be recognized as an asset for contract
performance costs only when the following conditions are simultaneously met:
(1) This cost is directly related to a current or expected contract, including direct labor, direct materials,
manufacturing overhead (or similar expenses), costs explicitly borne by the client, and other costs incurred
solely for that contract;
(2) This cost increases the resources the enterprise will allocate in the future to fulfill its performance
obligations;
(3) This cost is expected to be recovered.
When the incremental costs incurred by the Company to obtain a contract are expected to be recovered,
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
they shall be recognized as part of the contract acquisition cost and classified as an asset; however, if the
amortization period of such asset does not exceed one year, the cost may be recognized in profit or loss at the
time of occurrence.
Assets related to contract costs are amortized using the same basis as the revenue recognition from goods
or services associated with those assets.
For assets related to contract costs, if their carrying value exceeds the sum of the following two amounts,
the Company shall recognize an impairment loss on the excess amount and record it as an asset impairment loss:
(1) The remaining consideration expected to be received from the transfer of goods or services related to
the asset;
(2) The estimated costs incurred for transferring the relevant goods or services.
Where the aforementioned asset impairment provision is subsequently reversed, the revised book value of
the asset shall not exceed its book value on the reversal date under the assumption that no impairment provision
was recognized.
Government grants refer to monetary and non-monetary assets obtained by the Company from the
government without compensation, excluding capital invested by the government as an investor with
corresponding owner's equity. Government grants are categorized into asset-related grants and revenue-related
grants. When government grants consist of monetary assets, they are measured at the amount received or
receivable. For non-monetary assets, they are measured at fair value; if fair value cannot be reliably determined,
they are measured at nominal amount. Government grants measured at nominal amount are directly recognized
in profit or loss for the period.
Government grants related to assets are recognized as deferred income and are allocated to current period
earnings over the useful life of the relevant assets using a reasonable and systematic method. Government
grants related to income that are intended to compensate for future costs, expenses, or losses are recognized as
deferred income and are recognized in current period earnings when the corresponding costs, expenses, or
losses are recognized; those intended to compensate for incurred costs, expenses, or losses are recognized
directly in current period earnings.
Government grants that encompass both asset-related components and revenue-related components should
be accounted for separately; where differentiation is difficult, they should be collectively classified as revenue-
related government grants.
Government grants related to the company's daily operations shall be recognized as other income or
deducted from relevant costs and expenses based on the substance of the economic transactions; government
grants unrelated to daily operations shall be recorded as non-operating income or expenses.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
When confirmed government grants need to be refunded, if there is a relevant deferred income balance, the
corresponding deferred income balance shall be offset; any excess amount shall be recognized in current period
profit or loss. In other cases, the amount shall be directly recognized in current period profit or loss.
The deferred income tax asset or liability is recognized based on the difference between the carrying
amount of assets and liabilities and their tax basis (for items not recognized as assets or liabilities, where their
tax basis can be determined in accordance with tax laws, the difference between the tax basis and the carrying
amount), calculated using the applicable tax rate during the period when the asset is expected to be recovered or
the liability settled.
Deferred tax assets shall be recognized only to the extent that it is probable that sufficient taxable income
will be available to offset deductible temporary differences. At the balance sheet date, if there is conclusive
evidence that sufficient taxable income is likely to be available in future periods to offset such differences,
deferred tax assets previously unrecognized in prior accounting periods shall be recognized.
On the balance sheet date, review the carrying amount of deferred tax assets. If it is probable that sufficient
taxable income will not be available in future periods to realize the benefits of these deferred tax assets, reduce
their carrying amount. When sufficient taxable income is likely to be obtained, reverse the reduction amount.
The Company's current income tax and deferred income tax are recognized as income tax expenses or
income in the current period's profit or loss, excluding income tax arising from the following transactions:
business combinations; or transactions or events recognized directly in owners' equity.
When the company holds statutory rights for net settlement and intends to conduct both net settlement or
acquisition of assets and settlement of liabilities simultaneously, its current income tax assets and liabilities
shall be reported at the net amount after offsetting.
（1） Our company acts as the lessee.
The leased assets of our company are primarily mechanical equipment.
On the lease commencement date, the Company recognizes right-of-use assets and lease liabilities for
leases other than short-term leases and low-value asset leases, and recognizes depreciation expenses and interest
expenses separately over the lease term.
During the lease term, our company applies the straight-line method, recognizing the lease payments for
short-term leases and low-value asset leases as current period expenses.
① Right-to-use asset
Right-of-use assets refer to the rights granted to the lessee to use the leased asset during the lease term. At
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
the commencement date of the lease term, right-of-use assets are initially measured at cost. This cost includes:
① the initial measurement amount of the lease liability; ② lease payments made on or before the lease
commencement date; if lease incentives are applicable, the amount of such incentives already received shall be
deducted; ③ the lessee's initial direct costs; ④ the costs expected to be incurred by the lessee for dismantling
and removing the leased asset, restoring the premises where the asset is located, or returning the asset to the
condition specified in the lease terms.
The Company uses the straight-line method for the classification and calculation of depreciation on its
right-of-use assets. For leases where it is reasonably certain that ownership of the leased asset will be acquired
upon lease expiration, depreciation is calculated over the asset's estimated remaining useful life; for leases
where this certainty is lacking, depreciation is calculated over the shorter of the lease term and the asset's
remaining useful life.
The Company determines whether right-of-use assets have experienced impairment and performs the
corresponding accounting treatment in accordance with the relevant provisions of Accounting Standard for
Business Enterprises No.8 – Asset Impairment.
② lease obligation
Lease liabilities are initially measured at the present value of the outstanding lease payments as of the lease
commencement date. Lease payments include: ① fixed payments (including substantially fixed payments);
where lease incentives exist, the amount related to such incentives is deducted; ② variable lease payments
dependent on indices or ratios; ③ amounts payable based on the residual value of guarantees provided by the
lessee; ④ the exercise price of a purchase option, provided the lessee reasonably determines to exercise such
option; ⑤ amounts payable for exercising the lease termination option, provided the lease term reflects the
lessee's intention to exercise such option.
The Company uses the lease embedded interest rate as the discount rate; if the lease embedded interest rate
cannot be reasonably determined, the Company's incremental borrowing interest rate is used as the discount rate.
The Company calculates the interest expense on lease liabilities for each period of the lease term using a fixed
periodic interest rate and records it as financial expense. This periodic interest rate refers to the discount rate or
the revised discount rate adopted by the Company.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Variable lease payments not included in the measurement of lease liabilities are recognized in profit or loss
at the actual occurrence.
When the valuation results for the lease renewal option, lease termination option, or purchase option
change, the lease liability shall be remeasured using the present value calculated based on the revised lease
payments and the updated discount rate, with the carrying amount of the right-of-use asset adjusted accordingly.
If there are changes in material lease payments, the estimated payable amount of the residual value of the
guarantee, or variable lease payments dependent on indices or ratios, the lease liability shall be remeasured
using the present value calculated based on the revised lease payments and the original discount rate, and the
carrying amount of the right-of-use asset shall be adjusted accordingly.
③ Short-term leasing and leasing of low-value assets
For short-term leases (those with a lease term not exceeding 12 months on the lease commencement date)
and low-value assets (valued below RMB 2,000), the Company adopts a simplified approach: it does not
recognize right-of-use assets or lease liabilities, but instead allocates lease payments over each period of the
lease term using the straight-line method or another systematic and reasonable method to the cost of the relevant
assets or to the current period's profit or loss.
（2） Our company acts as the lessor.
The Company uses the straight-line method to recognize lease receivables from operating leases as rental
income for each period of the lease term. Variable lease payments related to operating leases that have not been
included in the lease receivables are recognized in profit or loss when actually incurred.
On the lease commencement date, the Company recognizes the receivable from the financial lease and
derecognizes the financial lease asset. The receivable from the financial lease is initially measured at the net
lease investment amount (the sum of the unguaranteed residual value and the present value of lease receivables
not yet received at the lease commencement date, discounted at the lease's effective rate), and interest income
for the lease term is recognized at a fixed periodic rate. Variable lease payments received by the Company that
are not included in the net lease investment amount are recognized in profit or loss when actually incurred.
Disclosures related to the criteria for Methods for Determining and Selection Criteria for
determining materiality Importance Standards
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Disclosures related to the criteria for Methods for Determining and Selection Criteria for
determining materiality Importance Standards
When the amount exceeds 5% of the corresponding
receivables for which significant individual accounts receivable and surpasses RMB 4 million, or when
provisions for bad debts have been made the provision for bad debts in the current period affects
profit and loss figures.
The reversal of bad debt provisions affects more than 5% of
Recovery or reversal of provisions for the current period's bad debt provision reversal amount,
doubtful accounts on important receivables with the amount exceeding RMB 1 million, or influences
the current period's profit and loss.
Significant accounts payable and other
More than 5% of the accounts payable or other payables
payables with an aging period exceeding one
balance, with an amount exceeding RMB 1 million
year
Minority shareholders hold more than 5% of the equity, and
Subsidiaries in which minority shareholders their total assets, net assets, operating revenue, and net
hold significant equity interests profit account for over 10% of the corresponding items in
the consolidated financial statements.
The book value accounts for more than 10% of the long-
term equity investment, or the investment income (losses
Important joint venture or cooperative
calculated in absolute terms) derived from joint ventures or
enterprise
associated enterprises accounts for more than 10% of the
consolidated net profit.
The total assets or total liabilities account for more than
Important Debt Restructuring
absolute amount exceeding RMB 2 million, or have an
impact on net profit exceeding 10%.
(1) Change in Accounting Policies
The Company had no significant changes to accounting policies during the reporting period.
(2) Change in Accounting Estimates
The Company had no significant changes to accounting estimates during the reporting period.
IV. Taxes
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
categories of taxes Specific tax rate details
The taxable income is subject to output VAT at rates of
added-value tax
and paid based on the difference after deducting the input VAT
eligible for deduction in the current period.
urban maintenance &
The tax is calculated at 7% of the actual value-added tax paid.
construction tax
extra charges of education funds The tax is calculated at 3% of the actual value-added tax paid.
Local Education Surcharge The tax is calculated at 2% of the actual value-added tax paid.
For value-based taxation, the tax is calculated at 1.2% of the residual
value after deducting 30% of the property's original value in a single
building taxes
deduction; for rental-based taxation, the tax is calculated at 12% of
rental income.
business income taxes See the table below for details.
Name of the taxpaying entity rate of income tax
Nanjing Putian Tianji Building Intelligence Co., Ltd. 15%
Nanjing Putian Datang Information Electronics Co., Ltd. 15%
Other tax entities other than those mentioned above 25%
December 2024, valid for three years, and will pay corporate income tax at a reduced rate of 15% for the 2024–
November 2024, valid for three years, and will pay corporate income tax at a reduced rate of 15% for the 2024–
Certain software products from Nanjing Putian Tianji Building Intelligence Co., Ltd. and Nanjing Southern
Telecommunications Co., Ltd. comply with the provisions of Document Cai Shui [2011] No.100 and are eligible
for the value-added tax refund policy upon collection.
V. Notes to the Consolidated Financial Statements Items
Unless otherwise specified in the following notes (including notes to major items of the Company’s
financial statements), “End of Period” refers to June 30, 2026; “End of Prior Year” refers to December 31,
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
months ended June 30, 2025.
project ending balance Year-end balance
bank deposit 7,107,722.64 7,271,675.43
other monetary funds 964,969.34 2,233,897.56
Funds deposited with the finance company 83,955,123.88 172,779,922.93
amount to 92,027,815.86 182,285,495.92
Note: Other Monetary Funds (Restricted Monetary Funds): Bank acceptance bill deposits RMB 551,072.55;
performance bond deposits RMB 72,606.72; CPC special account funds RMB 341,290.07.
(1) Classification and presentation of notes receivable
project ending balance Year-end balance
trade acceptance draft 7,907,477.04 18,006,988.67
subtotal 7,907,477.04 18,006,988.67
Less: Bad debt provision 267,302.07 778,489.58
amount to 7,640,174.97 17,228,499.09
(2) Receivable notes that have been endorsed or discounted at the end of the period and have not yet matured as
of the balance sheet date
Amount of termination Amount not terminated for
project recognition at the end of the recognition at the end of the
period period
Bank Acceptance Bill 24,102,023.35
trade acceptance draft 3,201,794.81
amount to 24,102,023.35 3,201,794.81
(3) Classified presentation according to the bad debt provisioning method
ending balance
book balance bad debt provision
class
amount of Percentage amount of book value
Proportion (%)
money (%) money
receivable notes for which bad debt 7,907,477.04 100.00 267,302.07 3.38 7,640,174.97
provisions are made on a combined
basis
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
ending balance
book balance bad debt provision
class
amount of Percentage amount of book value
Proportion (%)
money (%) money
Among these: Commercial 7,907,477.04 100.00 267,302.07 3.38 7,640,174.97
acceptance bills
amount to 7,907,477.04 100.00 267,302.07 3.38 7,640,174.97
① In the combination, accounts receivable notes are provided for bad debts based on the aging group.
ending balance
project
bill receivable bad debt provision Proportion (%)
Within 1 year 7,907,477.04 267,302.07 3.38%
(4) Status of bad debt provisions
Amount of Change for This Period
Year-end
class Accruishment Recover or Write-off or ending balance
balance
Roll Back cancellation
bad debt
provision
(1) Disclosure by aging of accounts
Account Age ending balance Year-end balance
Within 1 year 337,814,272.87 261,135,229.49
More than 5 years 179,973,565.56 179,431,638.23
subtotal 611,454,422.21 515,842,024.94
Less: Bad debt provision 193,731,194.11 192,255,102.92
amount to 417,723,228.10 323,586,922.02
(2) Classified presentation according to the bad debt provisioning method
ending balance
class
book balance bad debt provision book value
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
amount of Percentage amount of
Proportion (%)
money (%) money
accounts receivable for which bad
debt provisions are made on a per- 75,525,598.45 12.35 75,525,598.45 100.00
item basis
Accounts receivable for which bad
debt provisions are made on a 535,928,823.76 87.65 118,205,595.66 22.06 417,723,228.10
combined basis
Among these: Age of Account
Portfolio
amount to 611,454,422.21 100.00 193,731,194.11 31.68% 417,723,228.10
（ continuous ）
Year-end balance
book balance bad debt provision
class
amount of Percentage amount of book value
Proportion (%)
money (%) money
accounts receivable for which bad
debt provisions are made on a per- 76,050,649.46 14.74 76,050,649.46 100.00
item basis
Accounts receivable for which bad
debt provisions are made on a 439,791,375.48 85.26 116,204,453.46 26.42 323,586,922.02
combined basis
Among these: Age of Account
Portfolio
amount to 515,842,024.94 100.00 192,255,102.92 37.27% 323,586,922.02
① Accounts receivable for which a separate bad debt provision is made at the end of the period
ending balance
Proportion
Accounts Receivable (by Unit) bad debt Calculation
book balance of
provision Basis
Deduction
Dongpo Xi Laos Co., Ltd. Not expected to
be recovered
Not expected to
Xu Mou 17,591,683.74 17,591,683.74 100.00
be recovered
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
ending balance
Proportion
Accounts Receivable (by Unit) bad debt Calculation
book balance of
provision Basis
Deduction
Not expected to
China Tower Co., Ltd. 13,819,926.92 13,819,926.92 100.00
be recovered
Not expected to
Putian Information Technology Co., Ltd. 5,901,092.80 5,901,092.80 100.00
be recovered
China Railway Communication and Signal Not expected to
Shanghai Engineering Group Co., Ltd. be recovered
Not expected to
other 15,277,005.10 15,277,005.10 100.00
be recovered
amount to 75,525,598.45 75,525,598.45 —— ——
Continue the table above
Beginning balance
Proportion
Accounts Receivable (by Unit) bad debt
book balance of Calculation Basis
provision
Deduction
Not expected to
Dongpo Xi Laos Co., Ltd. 19,708,086.54 19,708,086.54 100.00
be recovered
Not expected to
Xu Mou 17,591,683.74 17,591,683.74 100.00
be recovered
Not expected to
China Tower Co., Ltd. 13,819,926.92 13,819,926.92 100.00
be recovered
Not expected to
Putian Information Technology Co., Ltd. 5,983,345.58 5,983,345.58 100.00
be recovered
China Railway Communication and Signal Not expected to
Shanghai Engineering Group Co., Ltd. be recovered
Not expected to
other 15,419,803.33 15,419,803.33 100.00
be recovered
amount to 76,050,649.46 76,050,649.46 —— ——
② Accounts receivable for which bad debt provisions are calculated based on the aging group within the
combination
project ending balance
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
book balance bad debt provision Proportion (%)
Within 1 year 337,814,272.87 3,378,142.72 1.00
More than 5 years 104,502,947.11 104,502,947.11 100.00
amount to 535,928,823.76 118,205,595.65 ——
Continue the table above
Year-end balance
project
book balance bad debt provision Proportion (%)
Within 1 year 261,135,229.49 2,611,352.29 1.00
More than 5 years 103,435,968.77 103,435,968.77 100.00
amount to 439,791,375.48 116,204,453.46 ——
(3) Status of bad debt provisions
Amount of Change for This Period
Year-end
class Accruishment Recover or Write-off or ending balance
balance
Roll Back cancellation
Accounts
receivable for
which bad debt
provisions are
made on a
combined basis
accounts
receivable for
which bad debt 76,050,649.46 525,051.01 75,525,598.45
provisions are
made on a per-
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Amount of Change for This Period
Year-end
class Accruishment Recover or Write-off or ending balance
balance
Roll Back cancellation
item basis
amount to 192,255,102.92 2,001,142.20 525,051.01 193,731,194.11
Among these: The amount of bad debt provisions recovered or reversed in this period is significant.
Amount to be recovered or
name of organization Recovery Method
reversed
China Railway Communication and Signal 300,000.00 Recovered Amount
Shanghai Engineering Group Co., Ltd.
China Railway No.4 Bureau Group Electrification 142,798.23 Recovered Amount
Engineering Co., Ltd.
Putian Information Technology Co., Ltd. 82,252.78 Recovered Amount
amount to 525,051.01 ——
(5) Details of the top five accounts receivable by the debtor's end-of-period balances
End-of-period Proportion (%) of the End-of-period
Debtor's Name balance of accounts total ending balance of balance of bad debt
receivable accounts receivable provisions
Dongpo Xi Laos Co., Ltd. 19,708,086.54 3.22 19,708,086.54
Xu Mou 17,591,683.74 2.88 17,591,683.74
The 14th Research Institute of
China Electronics Technology 15,783,418.03 2.58 157,834.18
Group Corporation
China Tower Corporation
Limited
The 28th Research Institute of
China Electronics Technology 12,510,830.50 2.05 358,837.06
Group Corporation
amount to 79,413,945.73 12.99 51,636,368.44
Ending balance Year-end balance
Project Allowance Allowance
Carrying Carrying Carrying Carrying
for Bad for Bad
Amount Value Amount Value
Debts Debts
Contract
Assets
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project ending balance Year-end balance
Bank Acceptance Bill 9,122,528.57 27,655,375.14
(1) Advance payments are presented by aging.
ending balance Year-end balance
Account Age
amount of money Percentage (%) amount of money Percentage (%)
Within 1 year 3,703,160.46 75.97 2,295,980.21 66.45
More than 3 years 924,730.31 18.97 643,644.50 18.63
amount to 4,874,776.91 100.00 3,455,153.02 100.00
(2) Prepayment details for the top five accounts by end-of-period balance, categorized by prepayment
recipient
Proportion (%) of the total ending balance
name of organization ending balance
of prepaid accounts
Yangzhou Titans Information
Technology Co., Ltd.
Shenzhen Haiwei Hengtai Intelligent
Technology Co., Ltd.
Beijing Anshi Dingyi Technology Co.,
Ltd.
Guangdong Yunchao Automation
Technology Co., Ltd.
Nanjing Julihua Machine Tool
Equipment Co., Ltd.
amount to 2,730,431.31 56.02
project ending balance Year-end balance
accounts receivable-other 5,367,579.19 5,239,886.21
(1) Other Receivables
① Disclosure by aging of accounts
Account Age ending balance Year-end balance
Within 1 year 4,446,296.05 3,789,466.81
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Account Age ending balance Year-end balance
More than 5 years 39,575,594.71 40,150,177.39
subtotal 51,076,025.35 51,550,757.70
Less: Bad debt provision 45,708,446.16 46,310,871.49
amount to 5,367,579.19 5,239,886.21
② Classification by nature of funds
Book balance at the end
Nature of the Fund End-of-period book balance
of the previous year
Accounts Receivable and Payables 43,931,223.16 42,706,873.96
Deposit Guarantee Fund 5,670,077.58 7,619,798.27
Business travel petty cash fund 248,699.14 42,135.51
other 1,226,025.47 1,181,949.96
subtotal 51,076,025.35 51,550,757.70
Less: Bad debt provision 45,708,446.16 46,310,871.49
amount to 5,367,579.19 5,239,886.21
③ Provision for bad debts
Stage I Stage II Stage III
Expected credit
Expected credit
losses throughout
losses throughout
bad debt provision Expected credit the entire amount to
the entire duration
losses over the duration (where
(incorporating
next 12 months no credit
already occurred
impairment has
credit impairment)
occurred)
Balance at the end of the
prior year
Provisions recognised in
-602,425.33 -602,425.33
the current period
ending balance 14,730,351.26 30,978,094.90 45,708,446.16
④ Status of bad debt provisions
Year-end Amount of Change for This Period
class ending balance
balance Accruishment Recover or Write-off or
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Roll Back cancellation
Stage 1 15,332,776.59 -15,332,776.59
Stage 2 30,978,094.90 -16,247,743.64 14,730,351.26
Stage 3 30,978,094.90 30,978,094.90
amount to 46,310,871.49 -602,425.33 45,708,446.16
⑤ Details of the top five other receivables by the debtor's accumulated ending balances
Proportion
(%) of the bad debt
Nature of the total ending provision
name of organization ending balance Account Age
Fund balance of ending
other balance
receivables
Beijing Likang
Accounts
General
Receivable and 28,912,122.71 More than 5 years 56.61 28,912,122.71
Communication
Payables
Equipment Co., Ltd.
Accounts 21,306.39; 4–5
Nanjing Putian
Receivable and 1,784,619.72 years: 504,197.50; 3.49 1,784,619.72
Technology Co., Ltd.
Payables Over 5 years:
Nanjing Putian Accounts
Communication Receivable and 805,545.63 More than 5 years 1.58 805,545.63
Industrial Co., Ltd. Payables
Nanjing Municipal
Office for the
Management of Wage
Deposit
Guarantee Funds for 400,000.00 More than 5 years 0.78 400,000.00
Guarantee Fund
Migrant Workers in
Construction
Enterprises
China United
Deposit
Network 390,000.00 More than 5 years 0.76 390,000.00
Guarantee Fund
Communications Co.,
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Proportion
(%) of the bad debt
Nature of the total ending provision
name of organization ending balance Account Age
Fund balance of ending
other balance
receivables
Ltd. Beijing Branch
amount to —— 32,292,288.06 —— 63.22 32,292,288.06
(1) Inventory Classification
ending balance
Impairment provision
for inventory value
project decline/Impairment
book balance book value
provision for
contract
performance costs
Raw Materials 15,891,332.93 8,061,162.82 7,830,170.11
Work in Progress 4,364,782.59 2,881,380.17 1,483,402.42
Finished Goods 92,874,532.89 46,662,808.49 46,211,724.40
Shipped-out Goods 74,504,012.25 48,726,012.18 25,778,000.07
Materials on Consignment for Processing 3,655,394.54 804,691.99 2,850,702.55
amount to 191,290,055.20 107,136,055.65 84,153,999.55
（ continuous ）
Year-end balance
Impairment provision
for inventory value
project decline/Impairment
book balance book value
provision for
contract
performance costs
Raw Materials 14,141,796.23 8,238,010.07 5,903,786.16
Work in Progress 3,654,045.14 2,881,380.17 772,664.97
Finished Goods 68,332,138.56 47,303,888.65 21,028,249.91
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Year-end balance
Impairment provision
for inventory value
project decline/Impairment
book balance book value
provision for
contract
performance costs
Shipped-out Goods 80,194,291.90 49,355,227.23 30,839,064.67
Materials on Consignment for Processing 4,198,338.62 804,691.99 3,393,646.63
amount to 170,520,610.45 108,583,198.11 61,937,412.34
(2) Inventory impairment provision/Contract performance cost impairment provision
Increase amount for this reduction amount for this
Year-end period period
project ending balance
balance Revert or write
Accruishment other other
off
Raw Materials 8,238,010.07 -16,990.24 159,857.01 8,061,162.82
Work in Progress 2,881,380.17 2,881,380.17
Finished Goods 47,303,888.65 -617,502.32 23,577.84 46,662,808.49
Shipped-out
Goods
Materials on
Consignment for 804,691.99 804,691.99
Processing
amount to 108,583,198.11 -634,492.56 812,649.90 107,136,055.65
project ending balance Year-end balance
Deductible Input VAT Pending Deduction 1,881,612.32 2,034,749.70
Prepaid Income Tax 437,742.60 162,034.21
amount to 2,319,354.92 2,196,783.91
(1) Investment in other equity instruments
project ending balance Year-end balance
Hangzhou Hongyan Electric Appliance Co., 321,038.00 321,038.00
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project ending balance Year-end balance
Ltd.
Nanjing Yuhua Electroplating Factory 420,915.00 420,915.00
Beijing Likang General Communication
Equipment Co., Ltd.
amount to 741,953.00 741,953.00
The company's equity investments in Nanjing Yuhua Electroplating Factory, Hangzhou Hongyan Electric
Appliance Co., Ltd., and Beijing Likang General Information Equipment Co., Ltd. constitute non-trading equity
instrument investments. Consequently, the company classifies these investments as equity instruments
measured at fair value with changes recognized in other comprehensive income.
(1) Investment property measured at cost
project Houses and buildings
I. Original Book Value
Year-end balance 20,011,121.96
Increase amount for this period 18,550,059.80
(1)Transfer from Inventories, Fixed Assets and Construction in Progress 18,550,059.80
reduction amount for this period
ending balance 38,561,181.76
II. Cumulative Depreciation and Cumulative Amortization
Year-end balance 15,033,851.24
Increase amount for this period 9,207,121.53
Of which: provision for or amortization 262,034.80
Transfer from Inventories, Fixed Assets and Construction in
Progress 8,945,086.73
reduction amount for this period
ending balance 24,240,972.77
III. Impairment Provision
IV. Book Value
End-of-period book value 14,320,208.99
Book value at the end of the previous year 4,977,270.72
project ending balance Year-end balance
fixed assets 71,401,501.53 84,173,058.11
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(1) Fixed Assets
① Fixed Assets Status
Houses and machinery Electronic conveyer Other
project amount to
Buildings equipment Equipment devices
Original book value
Year-end balance 103,185,699.27 48,626,411.26 18,453,438.80 3,091,621.11 16,250,653.27 189,607,823.71
Increase amount
for this period
Including:
Purchase
other
reduction amount for
this period
Of which: disposal or
scrapping
other 18,550,059.80 18,550,059.80
ending balance 84,635,639.47 47,694,084.70 18,476,270.65 1,855,274.11 16,256,316.99 168,917,585.92
accumulated
depreciation
Year-end balance 42,727,851.66 28,209,337.55 15,398,364.28 2,957,890.33 15,415,359.22 104,708,803.04
Increase amount
for this period
Of which:
provision made
other
reduction amount for
this period
Of which: disposal or
scrapping
other 8,945,086.73 8,945,086.73
ending balance 35,617,039.96 28,036,359.04 15,899,542.82 1,783,950.83 15,453,229.18 96,790,121.83
Impairment Provision
Year-end balance 539,124.00 11,550.65 175,287.91 725,962.56
Increase amount
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Houses and machinery Electronic conveyer Other
project amount to
Buildings equipment Equipment devices
for this period
reduction amount
for this period
ending balance 539,124.00 11,550.65 175,287.91 725,962.56
book value
End-of-period book
value
Book value at the end
of the previous year
② Status of temporarily idle fixed assets
Original accumulated Impairment
project book value remarks
book value depreciation Provision
machinery equipment 212,485.00 196,288.30 11,169.15 5,027.55
Electronic Equipment 36,000.00 34,920.00 1,080.00
other 342,985.18 157,407.73 175,287.91 10,289.54
amount to 591,470.18 388,616.03 186,457.06 16,397.09
③ Fixed assets leased out through operating leases
project RCarrying value at year? end
Houses and Buildings 13,271,988.07
④Status of fixed assets for which the property ownership certificate has not been obtained
Reasons for the failure to obtain the property
project book value
ownership certificate
Houses and Buildings 1,407,111.14 Still being processed
project machinery equipment amount to
Original book value
Year-end balance 2,686,684.00 2,686,684.00
This year's increase amount 4,780,208.88 4,780,208.88
New Leases 4,780,208.88 4,780,208.88
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project machinery equipment amount to
This year's reduction amount
year end balance 7,466,892.88 7,466,892.88
accumulated depreciation
Year-end balance 499,499.28 499,499.28
This year's increase amount 395,871.32 395,871.32
Of which: provision made 395,871.32 395,871.32
This year's reduction amount
year end balance 895,370.60 895,370.60
book value
Year-end book value 6,571,522.28 6,571,522.28
Book value at the end of the previous year 2,187,184.72 2,187,184.72
(1) Information on Intangible Assets
project land use right software amount to
Original book value
Year-end balance 14,116,846.37 10,452,159.22 24,569,005.59
Increase amount for
this period
reduction amount for
this period
ending balance 14,116,846.37 10,452,159.22 24,569,005.59
accumulated amortization
Year-end balance 3,983,307.66 9,381,727.35 13,365,035.01
Increase amount for
this period
Of which: provision
made
reduction amount for
this period
ending balance 4,150,745.34 9,448,466.73 13,599,212.07
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project land use right software amount to
End-of-period book
value
Book value at the end
of the previous year
Increase Amortization
Year-end Other reduction
project amount for this amount for this ending balance
balance amount
period period
Renovation
Expenditures
(1) Details of unconfirmed deferred tax assets
project ending balance Year-end balance
Deductible temporary differences 346,842,997.98 349,948,134.66
Deductible loss 187,758,717.98 178,094,465.64
amount to 534,601,715.96 528,042,600.30
(2) The deductible losses of unconfirmed deferred tax assets shall mature in the following years.
a particular year ending balance Year-end balance remarks
amount to 187,758,717.98 178,094,465.64
project End-of-period book value Limitation Reason
monetary resources 964,969.34 Bank acceptance bill margin,
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project End-of-period book value Limitation Reason
performance bond and special account
funds of the Party Committee
fixed assets 49,825,840.00 mortgage
immaterial assets 4,822,918.56 mortgage
amount to 55,613,727.90
Note: For details on the mortgage status of fixed assets and intangible assets, refer to Note 17; for short-term loans, see the
relevant section.
(1) Classification of Short-Term Loans
project ending balance Year-end balance
mortgage loan 71,177,129.45 93,874,324.80
Credit Loan 83,845,930.55 108,861,610.37
bill receivable 1,189,786.81
amount to 155,023,060.00 203,925,721.98
Note: The Company pledged the capital contribution corresponding to its 56.28% equity interest in Nanjing Southern
Telecom Co., Ltd. (amounting to RMB 28.5340 million) to its parent company, CETC Guorui Group Co., Ltd., to obtain
borrowings of RMB 66.80 million.
kind ending balance Year-end balance
trade acceptance draft 150,000.00 446,679.01
Bank Acceptance Bill 5,437,062.08 6,328,555.16
amount to 5,587,062.08 6,775,234.17
(1) Presentation of Accounts Payable
project ending balance Year-end balance
Within 1 year (inclusive) 167,989,385.20 206,129,313.63
More than 1 year 180,205,557.08 67,252,993.23
amount to 348,194,942.28 273,382,306.86
(2) Significant accounts payable with an aging period exceeding 1 year
Reasons for the outstanding or
project ending balance
untransferred amounts
China Putian Information Industry Co., 14,918,045.42 Not yet at the payment node
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Ltd.
(1) Presentation of advance receipts
project ending balance Year-end balance
Within 1 year (inclusive) 295,001.06
(1) Contractual Liabilities
project ending balance Year-end balance
Advanced Payment 8,667,197.51 9,264,082.89
Less: Deferred sales tax to be written off
(Note 5, 26)
amount to 7,829,012.32 8,426,313.45
(1) Presentation of Employee Compensation Payables
Reduce in this
project Year-end balance Add to this issue ending balance
period
Short-term compensation 12,622,282.49 48,545,936.89 49,053,171.70 12,115,047.68
Post-employment Benefits – 4,397,931.42 4,397,931.42
Establish a Savings Plan
Resignation benefits 917,477.00 917,477.00
amount to 12,622,282.49 53,861,345.31 54,368,580.12 12,115,047.68
(2) Presentation of Short-Term Compensation
Reduce in this
project Year-end balance Add to this issue ending balance
period
Salaries, bonuses, allowances,
and subsidies 0.12 38,334,457.72 38,334,457.72 0.12
employee services and benefits 644,759.26 644,759.26
Social Insurance Contributions 3,323,105.36 3,323,105.36
Of which: Medical insurance
premium
Work-related injury
insurance premium
Maternity insurance premium 208,885.79 208,885.79
housing fund 3,216,865.05 3,617,586.84 3,617,586.84 3,216,865.05
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Reduce in this
project Year-end balance Add to this issue ending balance
period
Trade union funds and employee
education funds 9,390,420.79 247,574.56 754,809.37 8,883,185.98
Other short-term compensation 14,996.53 2,378,453.15 2,378,453.15 14,996.53
amount to 12,622,282.49 48,545,936.89 49,053,171.70 12,115,047.68
(3) Establishment of a Deposit Plan and Its Presentation
Reduce in this
project Year-end balance Add to this issue ending balance
period
basic retirement security 4,214,254.81 4,214,254.81
unemployment insurance expense 183,676.61 183,676.61
Corporate Annuity Contribution
amount to 4,397,931.42 4,397,931.42
project ending balance Year-end balance
added-value tax 614,339.29 4,364,752.36
business income taxes 449,719.44
building taxes 126,462.21 313,001.13
Land Use Tax 40,752.81 81,827.95
income tax for individuals 63,785.46 123,313.16
urban maintenance & construction tax 44,878.10 386,451.15
extra charges of education funds 31,370.58 182,799.53
Local Education Surcharge 685.20 93,237.01
Other taxes and fees 1,500.00 47,096.07
amount to 923,773.65 6,042,197.80
project ending balance Year-end balance
dividends payable 698,000.00 11,044,600.00
accounts payable-others 36,848,026.02 37,987,466.18
amount to 37,546,026.02 49,032,066.18
(1) Dividends payable
project ending balance Year-end balance
common stock dividends 698,000.00 11,044,600.00
(2) Other Payables
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
① Listed by nature of the payment
project ending balance Year-end balance
accounts receivable payable 25,057,618.71 25,867,467.58
Unpaid installation costs 84,126.44 12,937.00
Deposit Guarantee Fund 3,304,661.61 3,990,787.59
Operating expenses 6,698,129.59 6,833,831.60
other 1,703,489.67 1,282,442.41
amount to 36,848,026.02 37,987,466.18
② Other significant payables with an aging period exceeding 1 year
Reasons for the outstanding
project ending balance
or untransferred amounts
China Putian Information Industry Group Co., 9,591,612.50 The settlement conditions
Ltd. have not been met.
project ending balance Year-end balance
Long-term loans maturing within 1 year (Note 5, 27) 70,060,958.33
Lease liabilities maturing within 1 year (Note 5, 28) 738,776.12 838,955.39
amount to 738,776.12 70,899,913.72
project ending balance Year-end balance
Tax payable for write-off 838,185.18 837,769.44
Revert at the end of the period the endorsed and
transferred commercial acceptance bills and 3,201,794.81 9,985,556.41
drafts that have not yet matured.
accrued expenses 97,087.38
amount to 4,039,979.99 10,920,413.23
Year-end balance Interest rate range
project
ending balance (%)
Pledge Loan 70,054,444.44 70,000,000.00 2.80
guaranteed loan
Less: Long-term borrowings due
within one year (Note 5, 27)
amount to 70,054,444.44
Note: The Company obtained borrowings of RMB 70.00 million by mortgaging the real estate located at No.8 Fenghui
Avenue, Yuhuatai District, Nanjing City and the land use right within its occupied scope, and pledging its capital contribution
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
corresponding to the 40.7% equity interest in Nanjing Southern Telecom Co., Ltd. (RMB 20.6349 million) and the capital
contribution corresponding to the 19.21% equity interest in Nanjing Putian Tianji Building Intelligence Co., Ltd. (RMB 3.8420
million) to Industrial and Commercial Bank of China Co., Ltd. Nanjing Junguan Sub-branch.
Increased this year
Year-end Reduced this year end
project This year's
balance New Lease other year balance
interest
machinery equipment 838,955.39 15,824.04 852,095.43 2,684.00
Houses and Buildings 4,780,208.88 39,906.32 399,545.15 4,420,570.05
Less: Lease liabilities due
within one year (Note 5,
amount to —— —— —— 3,684,477.93
Add to this Reduce in this
Investor Name Year-end balance ending balance
issue period
Total Number of Shares 215,000,000.00 215,000,000.00
Year-end Add to this Reduce in this
project ending balance
balance issue period
capital stock premium 137,786,640.63 137,786,640.63
Other Capital Reserve 63,531,487.98 63,531,487.98
amount to 201,318,128.61 201,318,128.61
Increase amount for reduction amount
project Beginning balance ending balance
this period for this period
Share Repurchase 2,995,076.96 2,995,076.96
Amount of Transactions in This Period
reduction:
current originally
After-tax
period recognized in other After-tax
Less: amount
End of last year Amount comprehensive amount end of term
project Income attributable
balance incurred income, transferred attributable balance
Tax to the
before to profit or loss (or to minority
Expense parent
income retained earnings) shareholders
company
tax in the current
period
Other
comprehensive
income -1,854,910.00 -1,854,910.00
reclassified
into profit or
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Amount of Transactions in This Period
reduction:
current originally
After-tax
period recognized in other After-tax
Less: amount
End of last year Amount comprehensive amount end of term
project Income attributable
balance incurred income, transferred attributable balance
Tax to the
before to profit or loss (or to minority
Expense parent
income retained earnings) shareholders
company
tax in the current
period
loss
Of which: the
amount of
financial asset
reclassification
recognized in -1,854,910.00 -1,854,910.00
other
comprehensive
income
Year-end balance Add to this Reduce in this
project ending balance
issue period
Legal surplus reserve 589,559.77 589,559.77
project current period prior period
Undistributed profits at the end of the previous year
-403,806,789.70 -394,344,427.37
before adjustment
Adjusted undistributed profit at the end of the
-403,806,789.70 -394,344,427.37
previous year
Total: Net profit attributable to the parent company's
-6,556,110.34 -7,153,201.29
shareholders for this period
Subtract: Withdrawal of statutory surplus reserve
Extract the discretionary surplus reserve
Extract general risk provision
Dividend payable for common stock
Dividends in the form of ordinary shares converted
into equity capital
End-of-period undistributed profits -410,362,900.04 -401,497,628.66
(1) Operating Revenue and Operating Costs
Amount for this period Previous period amount
project
income prime cost income prime cost
main business 292,133,774.49 244,293,267.42 300,596,752.68 241,006,017.00
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Amount for this period Previous period amount
project
income prime cost income prime cost
Other Businesses 6,939,266.29 2,227,739.17 5,717,365.97 1,774,817.63
amount to 299,073,040.78 246,521,006.59 306,314,118.65 242,780,834.63
(2) Income and Cost Breakdown Information
Timing of Revenue Recognition main business Other Businesses
Recognized at a Point in Time 292,133,774.49 6,939,266.29
(3) Explanation of allocation to the remaining performance obligations
The amount of revenue corresponding to performance obligations under contracts entered into but not yet
performed or not fully performed at the end of the reporting period is RMB 124.3943 million, of which RMB
recognized as revenue in 2027.
project Amount for this period Previous period amount
building taxes 395,739.87 323,840.89
urban maintenance & construction
tax
extra charges of education funds 86,263.68 243,311.66
Local Education Surcharge 3,237.28 26,082.61
Land Use Tax 122,580.76 123,704.75
stamp duty 120,729.55 121,565.11
other 173,850.12 165,127.51
amount to 1,027,702.62 1,380,779.48
Note: The calculation standards for various taxes and surcharges are detailed in Note 4, "Taxes."
project Amount for this period Previous period amount
employee compensation 17,902,849.28 19,815,398.16
Business entertainment expenses 1,218,380.88 2,457,168.65
travel expense 956,985.87 1,416,503.31
administrative expenses 238,758.32 391,873.51
Sales Service Fee 108,090.38 13,446.17
Business Promotion Expenses 205,912.62 127,443.12
Meeting fee 117,820.96 317,045.28
Device Maintenance Fee 3,384.06 64,624.33
other 2,571,566.57 2,343,829.59
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project Amount for this period Previous period amount
amount to 23,323,748.94 26,947,332.12
project Amount for this period Previous period amount
employee compensation 11,666,608.12 15,096,826.52
Depreciation and Amortization 1,959,868.71 2,266,412.64
Consultation and intermediary fees 596,726.62 1,314,105.11
administrative expenses 778,402.42 529,574.61
Leasing and property fees 34,285.71 2,443.00
Business entertainment expenses 25,393.30 57,576.79
travel expense 137,258.97 118,923.37
other 1,302,572.79 764,651.93
amount to 16,501,116.64 20,150,513.97
project Amount for this period Previous period amount
employee compensation 11,243,996.49 11,992,151.17
Interim trial fee 627,507.93 621,605.96
travel expense 282,151.50 468,715.85
Material Request 238,860.72 331,382.56
Depreciation and Amortization 430,453.86 440,846.79
other 349,084.98 744,649.87
amount to 13,172,055.48 14,599,352.20
project Amount for this period Previous period amount
interest expense 3,564,677.07 4,242,807.68
Subtraction: Interest Income 379,063.55 278,138.20
exchange loss 6,180.84 1,161.88
Service charge expenditure 44,329.17 65,107.78
other 260,750.00
amount to 3,496,873.53 4,030,939.14
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
The amount included in
Amount for this Previous period the non-recurring gains
project
period amount and losses for the current
period
Government subsidies related to
the daily operations of enterprises
Advanced Manufacturing VAT
Additional Deduction
Refund of Handling Fees for
Withheld Individual Income Tax
amount to 859,725.65 1,364,907.79 271,137.54
The details of government subsidies are as follows:
Amount for this Previous Asset-related / Income-
Grant Item
period period amount related
Software VAT Refund 149,012.46 360,806.90 Income-related
Grant from Jiangning District Finance Bureau,
Nanjing
Employment Expansion Subsidy 22,125.08 1,500.00 Income-related
Pending Cleared Budget Revenue 35,160.22 Income-related
project Amount for this period Previous period amount
Gains from long-term equity investments -111.44
accounted for using the equity method
Gain on Disposal of Long-term Equity
Investments
other 672,229.56 142,610.75
amount to 685,304.26 142,499.31
project Amount for this period Previous period amount
Bad debt loss on notes receivable 511,187.51 -17,298.59
Loss on bad debts of accounts
-1,476,091.19 -646,064.33
receivable
Other receivables bad debt losses 602,425.33 -117,901.16
amount to -362,478.35 -781,264.08
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
The amount included in the non-
Amount for this Previous period
project recurring gains and losses for
period amount
the current period
Gain or Loss on Disposal of Fixed Assets 8,627.76 -16,680.80 8,627.76
The amount included in the non-
Amount for this Previous period
project recurring gains and losses for
period amount
the current period
Unpayable Payables 520,152.04 520,152.04
Advance Received from Customer with
Cancellation of Business License
Penalty Income 51,782.00
Others 12,641.69 184,177.49 12,641.69
amount to 609,381.73 235,959.49 609,381.73
The amount included
in the non-recurring
project Amount for this period Previous period amount
gains and losses for
the current period
Late Payment Surcharges 47.05 17.26 47.05
Penalty Expenses 5,455.58
other 195,425.86
amount to 47.05 200,898.70 47.05
(1) Income Tax expense statement
project Amount for this period Previous period amount
Current income tax expense 238,746.35 542,956.90
Deferred income tax expense
other 20,942.43 381,254.77
amount to 259,688.78 924,211.67
(2) The adjustment process between accounting profit and income tax expense
project Amount for this period
total profit -3,168,949.02
Income tax expense calculated based on the statutory/applicable tax rate -792,237.25
The impact of applying different tax rates to subsidiaries -635,887.28
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
project Amount for this period
Adjustment for the impact of income tax from prior periods
The impact of non-taxable income
The impact of non-deductible costs, expenses, and losses 146,474.65
Assess the impact of unconfirmed deferred tax assets on deductible losses in
the initial period
This year, no impact of deductible temporary differences or deductible
losses related to deferred tax assets was recognized.
The impact of the additional deduction for research and development
-819,980.30
expenses
Other Effects 20,942.43
Income Tax Fee 259,688.78
(1) Receipt of other cash related to operating activities
project Amount for this period Previous period amount
public subsidy 142,517.74 326,959.74
interest revenue 149,831.31 278,138.20
Receiving and Paying Accounts 12,903,240.51 14,507,944.75
amount to 13,195,589.56 15,113,042.69
(2) Payment of other cash related to operating activities
project Amount for this period Previous period amount
out-of-pocket expenses 12,173,929.52 20,932,890.53
Receiving and Paying Accounts 12,089,294.35 14,060,296.04
amount to 24,263,223.87 34,993,186.57
(3) Payment of other cash related to financing activities
project Amount for this period Previous period amount
Payment of Lease Rentals 1,287,599.65 568,965.48
Payment of Guarantee Fees 260,750.00
amount to 1,548,349.65 568,965.48
(5) Changes in various liabilities arising from financing activities
Add to this issue Reduce in this period
Beginning
project Non-cash Non-cash ending balance
balance Cash Change Cash Change
changes changes
money
borrowed for 203,925,721.98 39,100,000.00 2,469,010.62 89,281,885.79 1,189,786.81 155,023,060.00
short time
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
money
borrowed for 70,000,000.00 522,666.66 468,222.22 70,054,444.44
long term
Leasing
liabilities
Non-current
liabilities
maturing
within one year
amount to 274,825,635.70 109,100,000.00 9,037,434.31 161,533,748.59 1,928,562.93 229,500,758.49
(1) Supplementary Information to the Cash Flow Statement
Supplementary Information Amount for this Previous period
period amount
net margin -3,428,637.80 -3,755,321.55
Add: Asset impairment provision
Credit impairment loss 362,478.35
Depreciation of fixed assets, depletion of oil and gas
assets, depreciation of productive biological assets,
depreciation of right-of-use assets 395,871.32 130,304.16
amortization of intangible assets 234,177.06 177,923.87
Amortization of long-term prepaid expenses 378,958.84 410,661.77
Losses (or gains) from disposal of fixed assets,
intangible assets, and other long-term assets (marked -8,627.76 16,680.80
with a "-" sign)
Fixed asset disposal loss (profit entered with a "-"
sign)
Loss on change in fair value (profit/loss indicated
with a "-" sign)
Financial expenses (report revenue with a "-" sign) 3,564,647.79 4,242,807.72
Investment loss (profit is indicated with a "-") -685,304.26 -142,499.31
Decrease in deferred tax assets (enter with a "-")
Increase in deferred tax liability (reduce by entering
a negative sign)
reduction in inventory (increase indicated with a "-") -20,769,444.75 6,225,211.19
Decrease in operating receivables (enter with a "-"
-67,924,930.61 -72,868,785.57
sign for an increase)
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Supplementary Information Amount for this Previous period
period amount
Increase in operating payable items (减少 items are
indicated with a "-").
other 2,717,311.50
Net cash flow from operating activities -25,732,369.73 -132,265,585.54
involving cash receipts or payments:
Debt converted into capital
convertible corporate bonds maturing within one year
fixed assets under financing lease
End-of-period cash balance 91,062,846.52 105,861,149.82
Less: The balance of cash at the end of the previous year 180,051,598.36 288,328,064.43
Add: The ending balance of cash equivalents
Less: The balance of cash equivalents at the end of the
previous year
Net increase in cash and cash equivalents -88,988,751.84 -182,466,914.61
(2) Composition of cash and cash equivalents
project ending balance Year-end balance
Cash 91,062,846.52 180,051,598.36
Among these: Bank deposits available for payment at any
time.
(1) Foreign currency monetary items
End-of-period foreign Conversion Exchange End-of-period converted
project
currency balance Rate RMB balance
monetary resources
Of which: US dollar 187,334.45 6.8109 1,275,916.21
HongKong dollar 9.57 0.8686 8.31
(1) The Company, as the lessee
① For information on Right-of-use Assets and Lease Liabilities, see Notes V.12 and V.28.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
② Included in the current year's profit and loss
Included in the current year's profit and loss
project
Reporting Item amount of money
Interest on lease liabilities cost of financing 55,730.36
③ Cash flow outflows related to leasing
project Cash Flow Category This year's amount
Cash paid to repay the principal and interest of lease Cash outflow from financing
liabilities activities
(2) The Company acts as the lessor
① Information related to operating leases
A. Items included in the current year's profit and loss
Included in the current year's profit and
project loss
Reporting Item amount of money
Lease Income operating receipt 3,858,935.59
VI. R&D Expenses
project Amount for this period Previous period amount
employee compensation 11,243,996.49 11,992,151.17
travel expense 282,151.50 468,715.85
Depreciation and Amortization 430,453.86 440,846.79
Material Request 238,860.72 331,382.56
Interim trial fee 627,507.93 621,605.96
other 349,084.98 744,649.87
amount to 13,172,055.48 14,599,352.20
VII. Interests in Other Entities
Registered Primary Registere Nature of shareholding ratio Method of
Subsidiary Name
Capital place of d Business （%） Acquisition
(ten business Address
thousand 88
yuan)
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
direct indirect
Nanjing Southern
Telecommunications Nanjing Nanjing manufacturing
Co., Ltd. City City industry
Nanjing Putian Tianji
Building Intelligence Nanjing Nanjing manufacturing
Co., Ltd. City City industry
Nanjing Putian Datang Business
Information Electronics Nanjing Nanjing manufacturing combination
Co., Ltd. City City industry under different
controls
scope
(1) The Company holds a 45.767% voting interest in Nanjing Putian Tianji Building Intelligence Co., Ltd.,
with other voting shareholders being relatively dispersed. The Company represents more than half of the board
members of Nanjing Putian Tianji Building Intelligence Co., Ltd., thereby exercising control over the company.
This enables the Company to participate in the company's activities, enjoy variable returns, leverage its control
over the company's returns, and ultimately exercise full control over Nanjing Putian Tianji Building Intelligence
Co., Ltd.
(2) The Company holds a 40% equity stake in Nanjing Putian Datang Information Electronics Co., Ltd.
The number of Company members serving on its Board of Directors exceeds half of the total board members,
granting the Company authority over the company. The Company is entitled to variable returns by participating
in its relevant activities and can leverage this authority to influence its return amounts, thereby exercising
control over Nanjing Putian Datang Information Electronics Co., Ltd.
(1) A significant non-wholly owned subsidiary
Shareholding Profit or loss Dividend
percentage of attributable to distributed to End-of-period
Subsidiary Name minority minority minority balance of minority
shareholders shareholders for shareholders in interest
(%) the period this period
Nanjing Putian Tianji Building
Intelligence Co., Ltd.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(2) Key financial information of the subsidiary
ending balance
Subsidiary Name circulating non-current non-current Total
Total Assets cash liabilities
assets assets liability Liabilities
Nanjing Putian
Tianji Building
Intelligence Co.,
Ltd.
（ continuous ）
Year-end balance
Subsidiary Name non-current non-current Total
circulating assets Total Assets cash liabilities
assets liability Liabilities
Nanjing Putian
Tianji Building
Intelligence Co.,
Ltd.
（ continuous ）
Amount for this period Previous period amount
total Cash Flow total Cash Flow
Subsidiary
operating comprehe from operating net compreh from
Name net margin
receipt nsive Operating receipt margin ensive Operating
income Activities income Activities
Nanjing Putian
Tianji
Building 160,248,114.99 6,391,084.14 6,391,084.14 -24,185,843.41 151,212,984.09 5,762,519.26 5,762,519.26 -34,463,682.83
Intelligence
Co., Ltd.
VIII. Risks Associated with Financial Instruments
The Company's primary financial instruments include loans, receivables, and payables, among others.
Detailed descriptions of these financial instruments are provided in Note 5. The risks associated with these
instruments, along with the risk management policies implemented by the Company to mitigate them, are
outlined below. The Company's management monitors and manages these risk exposures to ensure they remain
within acceptable limits.
The company employs sensitivity analysis techniques to assess the potential impact of reasonable and
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
possible changes in risk variables on current profits or equity. Since risk variables rarely change independently,
and the interrelationships among variables significantly influence the ultimate effect of changes in any given
variable, the following analysis assumes that each variable's change occurs independently.
The objective of our company's risk management is to achieve an appropriate balance between risk and
return, minimize the negative impact of risks on our operating performance, and maximize the interests of
shareholders and other equity investors. In line with this objective, our fundamental risk management strategy
involves identifying and analyzing the various risks we face, establishing appropriate risk tolerance thresholds,
implementing effective risk management practices, and conducting timely and reliable monitoring of these risks
to keep them within defined limits.
(1) Market Risk
① exchange risk
Foreign exchange risk refers to the risk that the fair value or future cash flows of financial instruments
fluctuate due to changes in foreign exchange rates. The Company operates in mainland China, and its primary
activities are denominated in Renminbi; therefore, the foreign exchange rate fluctuation risk assumed by the
Company is not material. The details of the Company's foreign currency monetary assets and liabilities at the
end of the period are provided in the relevant notes to this financial statement.
As of December 31,2025, the Company's major foreign exchange risk exposures for its foreign currency
assets and liabilities are as follows (for reporting purposes, the risk exposure amounts are presented in
Renminbi and converted using the spot exchange rate on the balance sheet date).
project American dollar Hong Kong currency
foreign currency Renminbi foreign currency Renminbi
Cash and cash
equivalents
project American dollar Hong Kong currency
foreign currency Renminbi foreign currency Renminbi
Cash and cash
equivalents
② interest rate exposure
Interest rate risk refers to the risk that the fair value or future cash flows of financial instruments fluctuate
due to changes in market interest rates. Fixed-rate interest-bearing financial instruments expose the Company to
fair value interest rate risk, while floating-rate interest-bearing financial instruments expose the Company to
cash flow interest rate risk. The Company determines the proportion of fixed-rate to floating-rate financial
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
instruments based on market conditions and maintains an appropriate portfolio through regular review and
monitoring.
(2) Credit Risk
Credit risk refers to the risk that one party using a financial instrument fails to fulfill its obligations,
resulting in financial losses for the other party.
(1) Methods for evaluating credit risk
The company assesses whether the credit risk of relevant financial instruments has increased significantly
since initial recognition on each balance sheet date. In determining such a significant increase, the company
considers obtaining reasonable and well-founded information without incurring unnecessary additional costs or
effort, including qualitative and quantitative analyses based on historical data, external credit risk ratings, and
forward-looking information. Using individual financial instruments or portfolios of instruments with similar
credit risk characteristics, the company compares the risk of default on the balance sheet date with that on the
initial recognition date to determine the change in default risk over the instrument's expected lifetime.
The company considers that the credit risk of financial instruments has increased significantly when one or
more of the following quantitative or qualitative criteria are met:
balance sheet date increases by more than a specified percentage compared to the initial recognition date.
financial condition, or existing or anticipated changes in the technological, market, economic, or legal
environment that would substantially impair the debtor's ability to repay the company's debts;
(2) Definitions of default and assets with incurred credit impairment
When a financial instrument meets one or more of the following conditions, the Company shall classify the
financial asset as having defaulted, with the criteria aligning with those for recognizing credit impairment:
the debtor's financial difficulties—concessions that the debtor would not have made under any other
circumstances.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
The key parameters for measuring expected credit losses include the default probability, default loss ratio,
and default risk exposure.
The company's credit risk primarily stems from monetary funds and accounts receivable. To mitigate these
risks, the company has implemented the following measures.
(1) Cash and cash equivalents
Our company deposits bank deposits and other monetary funds with financial institutions that have high
credit ratings, resulting in relatively low credit risk.
(2) Accounts Receivable
Our company regularly conducts credit assessments for clients engaging in credit-based transactions.
Based on the assessment results, we select transactions only with accredited clients with sound credit profiles
and monitor their accounts receivable balances to ensure we avoid significant bad debt risks.
As the company's accounts receivable risk is distributed across multiple partners and customers, as of
August 30,2026, 12.44% of its accounts receivable (compared to 16.66% as of December 31,2025) originated
from its top five customers. The company faces no significant credit concentration risk.
The maximum credit risk exposure assumed by our company is the book value of each financial asset on
the balance sheet.
(3) Liquidity Risk
Liquidity risk refers to the risk of insufficient funds when the Company fulfills its obligations settled by
cash or other financial assets. Such risk may arise from an inability to sell financial assets at fair value promptly;
from the counterparty's failure to repay its contractual obligations; from debts maturing ahead of schedule; or
from the failure to generate expected cash flows.
To mitigate this risk, the Company employs a comprehensive range of financing instruments, including bill
settlement and bank loans, while strategically combining long-term and short-term financing methods to
optimize its financing structure and maintain a balance between sustainability and flexibility. The Company has
secured credit lines from multiple commercial banks to meet its working capital requirements and capital
expenditures.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
① Financial liabilities classified by remaining maturity dates
End-of-period amount
project The contract amount More than 3
book value Within 1 year 1-3 years
not discounted years
money borrowed for short time 155,023,060.00 155,023,060.00 155,023,060.00
notes payable 5,587,062.08 5,587,062.08 5,587,062.08
debit balance in suppliers’account 348,194,942.28 348,194,942.28 348,194,942.28
accounts payable-others 37,546,026.02 37,546,026.02 37,546,026.02
Non-current liabilities maturing
within one year
subtotal 547,089,866.50 547,089,866.50 547,089,866.50
（ continuous ）
Beginning balance
project The contract amount not More than 3
book value Within 1 year 1-3 years
discounted years
money borrowed for short time 203,925,721.98 203,925,721.98 203,925,721.98
notes payable 6,775,234.17 6,775,234.17 6,775,234.17
debit balance in suppliers’account 273,382,306.86 273,382,306.86 273,382,306.86
accounts payable-others 49,032,066.18 49,032,066.18 49,032,066.18
Non-current liabilities maturing
within one year
subtotal 604,015,242.91 604,015,242.91 604,015,242.91
②Hedging
The company has not conducted any hedging activities.
③ Transfer of financial assets
Transferred Termination
transition Nature of the transferred The criteria for determining the
finances Confirmation
way financial asset termination of a confirmation
Asset Amount The situation
Endorsement of a Termination It has transferred almost all of its risks
Bank Acceptance Bill 24,102,023.35
Bill Confirmation and rewards.
Amount of financial assets
Gains and losses related to the
Types of Financial Assets Transfer Method whose recognition has been
termination of recognition
terminated
receivables financing Endorsement Transfer 24,102,023.35
IX. Disclosure of Fair Value
project End-of-period fair value
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
First-level Second-level Third-level fair
fair value fair value value amount to
measurement measurement measurement
I. Continuous Fair Value
Measurement
(I) Investments in Other Equity
Instruments
Total assets continuously
measured at fair value 741,953.00 741,953.00
II. Non-sustained fair value
measurement
(I) Receivables Financing 9,122,528.57 9,122,528.57
Total assets not measured at fair
value on a continuous basis
techniques employed and the qualitative and quantitative information on key parameters shall be
specified.
(1) For receivables financing held, the fair value shall be determined based on the face value;
(2) For other equity instrument investments held in Nanjing Yuhua Electroplating Factory and Hangzhou
Hongyan Electric Appliance Co., Ltd., since no significant changes have occurred in the operating environment,
business performance, or financial condition of the investee enterprises, the company measures these
investments at their cost as a reasonable estimate of fair value.
(3) For its other equity instrument investments in Beijing Likang General Information Equipment Co., Ltd.,
the company has measured the investments at zero yuan as a reasonable estimate of fair value, due to the
deterioration in the operating environment, business performance, and financial condition of the investee.
X. Related Parties and Related Transactions
The parent The voting
company's rights
Nature of registered shareholding proportion (%)
Parent Company Name Registered Address
Business capital percentage in of the parent
our company company in our
(%) company
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
The parent The voting
company's rights
Nature of registered shareholding proportion (%)
Parent Company Name Registered Address
Business capital percentage in of the parent
our company company in our
(%) company
No.359, Jiangdong
Electronic
China Electric Guorui Middle Road, 1,000,000,000.0
Equipment 53.49% 53.49%
Group Co., Ltd. Jianye District, 0
Manufacturing
Nanjing City
The ultimate controlling party is China Electronics Technology Group Corporation.
For details, refer to Note 7, Section 1: Composition of the Enterprise Group.
For details of the Company's significant joint ventures and associated enterprises, please refer to Note 7,
Section 4: Equity Interests in Joint Ventures or Associated Enterprises.
Relationships between other related
Other related party names
parties and the Company
The 14th Research Institute of China Electronics Under the same ultimate controlling
Technology Group Corporation party
The 28th Research Institute of China Electronics Under the same ultimate controlling
Technology Group Corporation party
Under the same ultimate controlling
Nanjing Les Information Technology Co., Ltd.
party
Shanghai Potevio Post & Telecommunication Technology Under the same ultimate controlling
Co., Ltd. party
Under the same ultimate controlling
Taiji Computer Corporation Limited
party
Hebei Yuandong Communication System Engineering Co., Under the same ultimate controlling
Ltd. party
Under the same ultimate controlling
Potevio Information Technology Co., Ltd.
party
Under the same ultimate controlling
Nanjing Guorui Defense System Co., Ltd.
party
Under the same ultimate controlling
CETC Potevio Technology Co., Ltd.
party
Under the same ultimate controlling
Potevio Communications Co., Ltd.
party
Under the same ultimate controlling
CETC Digital Technology Co., Ltd.
party
Under the same ultimate controlling
China Potevio Information Industry Co., Ltd.
party
Under the same ultimate controlling
Nanjing Luopu Co., Ltd.
party
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Relationships between other related
Other related party names
parties and the Company
Under the same ultimate controlling
CETC Cloud (Beijing) Technology Co., Ltd.
party
Under the same ultimate controlling
Tianbo Electronic Information Technology Co., Ltd.
party
Information Science Academy of China Electronics Under the same ultimate controlling
Technology Group Corporation party
The 54th Research Institute of China Electronics Under the same ultimate controlling
Technology Group Corporation party
Under the same ultimate controlling
Nanjing Rail Transit System Engineering Co., Ltd.
party
Under the same ultimate controlling
Shanghai Post & Telecommunication Equipment Co., Ltd.
party
Under the same ultimate controlling
Nanjing Nanman Electric Co., Ltd.
party
CETC Metrology, Testing and Certification (Beijing) Co., Under the same ultimate controlling
Ltd. party
Under the same ultimate controlling
Potevio Rail Transit Technology (Shanghai) Co., Ltd.
party
Under the same ultimate controlling
Sichuang Electronics Co., Ltd.
party
Under the same ultimate controlling
Guorui Technology Co., Ltd.
party
Under the same ultimate controlling
Nanjing Meichen Microelectronics Co., Ltd.
party
Under the same ultimate controlling
Nanjing Enrite Industrial Co., Ltd.
party
Under the same ultimate controlling
Nanjing Guorui Xinwei Software Co., Ltd.
party
CETC (Nanjing) Electronic Information Development Co., Under the same ultimate controlling
Ltd. party
Under the same ultimate controlling
Nanjing Luopu Technology Co., Ltd.
party
The 55th Research Institute of China Electronics Under the same ultimate controlling
Technology Group Corporation party
Under the same ultimate controlling
Nanjing Putian Communications Technology Co., Ltd.
party
Under the same ultimate controlling
Beijing Capital Telecom Co., Ltd.
party
Under the same ultimate controlling
China Yuandong International Tendering Co., Ltd.
party
Under the same ultimate controlling
Potevio Information Engineering Design & Service Co., Ltd.
party
Under the same ultimate controlling
Beijing Likepu Communication Equipment Co., Ltd.
party
Under the same ultimate controlling
Hangzhou Hikvision Technology Co., Ltd.
party
Nanjing Branch of Hangzhou Hikvision Digital Technology Under the same ultimate controlling
Co., Ltd. party
Under the same ultimate controlling
Nanjing Putian Hongyan Electrical Technology Co., Ltd.
party
Under the same ultimate controlling
Potevio High-tech Industry Co., Ltd.
party
Under the same ultimate controlling
Nanjing Putian Communications Industry Co., Ltd.
party
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Relationships between other related
Other related party names
parties and the Company
Under the same ultimate controlling
Hangzhou Hongyan Electric Co., Ltd.
party
Under the same ultimate controlling
China Potevio Information Industry Group Co., Ltd.
party
Under the same ultimate controlling
Nanjing Putian Information Technology Co., Ltd.
party
(1) Related-party transactions involving the purchase and sale of goods, or the provision and receipt of
services
① Status of purchased goods/accepted services
Nature of
Amount for this Previous period
Related Party Related Party
period amount
Transaction
China Yuandong International Tendering Co., Ltd. Bid Service Fee 32,435.98 6,109.77
Potevio Information Engineering Design & Service Bid Service Fee
Co., Ltd.
Chengdu Westone Information Security Technology Management
Co., Ltd. Service
Telecommunicat
Nanjing Nanman Electric Co., Ltd. 1,401,993.77
ion Products
CETC (Nanjing) Electronic Information Telecommunicat
Development Co., Ltd. ion Products
Management
CETC Asset Management Co., Ltd. 11,367.48
Service
Nanjing Potevio Hongyan Electrical Technology Telecommunicat
Co., Ltd. ion Products
Telecommunicat
Nanjing Hikvision Digital Technology Co., Ltd. 1,199.12
ion Products
Status of goods sold/labor services provided
Nature of
Amount for this Previous period
Related Party Related Party
period amount
Transaction
The 14th Research Institute of China Electronics Technology Telecommunica
Group Corporation tion Products
Telecommunica
CETC Digital Technology Co., Ltd. 4,142,190.64
tion Products
Telecommunica
Nanjing Guorui Defense System Co., Ltd. 2,668,922.45 598,474.80
tion Products
Telecommunica
Hebei Yuandong Communication System Engineering Co., Ltd. 1,295,362.78
tion Products
China Electronics Technology Group Corporation Information Telecommunica
Science Academy tion Products
Telecommunica
CETC Cloud (Beijing) Technology Co., Ltd. 1,094,075.64 438,522.13
tion Products
The 54th Research Institute of China Electronics Technology Telecommunica
Group Corporation tion Products
The 28th Research Institute of China Electronics Technology Telecommunica
Group Corporation tion Products
Telecommunica
Nanjing Les Information Technology Co., Ltd. 415,575.23 3,025,086.19
tion Products
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Nature of
Amount for this Previous period
Related Party Related Party
period amount
Transaction
Telecommunica
Nanjing Enrite Industrial Co., Ltd. 45,723.17
tion Products
Telecommunica
Jiangsu Huachuang Microsystems Co., Ltd. 36,600.88
tion Products
Telecommunica
Nanjing Nanman Electric Co., Ltd. 24,283.96
tion Products
Telecommunica
Nanjing Luopu Technology Co., Ltd. 14,663.71 60,260.62
tion Products
Telecommunica
CETC (Nanjing) Electronic Information Development Co., Ltd. 10,704.85 132,743.36
tion Products
Telecommunica
Nanjing Luopu Co., Ltd. 2,108,165.46
tion Products
Telecommunica
Tianbo Electronic Information Technology Co., Ltd. 839,415.90
tion Products
Telecommunica
Beijing Autway Technology Co., Ltd. 750,159.29
tion Products
Telecommunica
Putian Rail Transit Technology (Shanghai) Co., Ltd. 325,435.41
tion Products
Telecommunica
CETC Putian Technology Co., Ltd. 282,925.12
tion Products
Telecommunica
Eastcom Co., Ltd. 45,575.20
tion Products
Telecommunica
Nanjing Les Electronic Equipment Co., Ltd. 22,455.75
tion Products
(2) Related leasing arrangements
① Our company acts as the lessor
Types of leased Lease income Lease income
Leaseholder Name recognized in this recognized in the
assets period previous period
The 14th Research Institute of China
House and Property
Electronics Technology Group 1,200,550.46 1,200,550.46
Income
Corporation
House and Property
Nanjing Luopu Co., Ltd. 197,619.05 197,619.05
Income
China Electronics Technology Group
House and Property
Corporation Metrology, Testing and 162,000.00 162,000.00
Income
Certification (Beijing) Co., Ltd.
② Our company, as the lessee
Simplified calculation of Increased
Interest expense on leased
rental expenses for short- The rent paid assets of usage
Type liabilities incurred
term leases rights
s of
Cu
Landlord lease Previous
Previous Previous Previous rre
Name d Current Current Current period
period period period nt
asset period period period occurren
occurrence occurrence occurrence per
s amount amount amount ce
amount amount amount iod
amount
am
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
ou
nt
China
Electronics
Technology mach
Group inery
Corporation equip
Financial ment
Leasing Co.,
Ltd.
Beijing
buildi
Shouxin Co.,
ngs
Ltd.
(3 Loans to related parties and interest expenses
Previous period occurrence
Related Party Current period amount /
affiliated party amount/period opening
Transaction Details End-of-period balance
balance
Principal amount of
China Putian Information Industry Co., Ltd.
entrusted loan
China Putian Information Industry Co., Ltd. Debt loan interest 1,669,815.00
China Electronic Technology Finance Co.,
Loan principal 70,000,000.00
Ltd.
China Electronic Technology Finance Co.,
cost of money 471,041.67 1,259,937.50
Ltd.
China Electronics Technology Group
Other interest 15,824.04 38,233.79
Corporation Financial Leasing Co., Ltd.
Principal amount of
China Electric Guorui Group Co., Ltd. 66,800,000.00 66,800,000.00
entrusted loan
China Electric Guorui Group Co., Ltd. Debt loan interest 956,659.50
(4) Funds deposited with China Electronic Technology Finance Co., Ltd. and interest income for the
current period
project Amount for this period Previous period amount
Deposited with a financial company 83,955,123.88 172,779,922.93
Interest income for this period 100,065.26 373,400.64
(5) Compensation for Key Management Personnel
project Amount for this period Previous period amount
Remuneration for Key Management Personnel 1,076,064.00 1,302,295.00
(1) Accounts Receivable Items
Balance at the End of Prior
Closing Balance
Year
Items
Allowance for Allowance for
Gross Balance Gross Balance
Credit Losses Credit Losses
Receivable：
The 14th Research Institute of China Electronics
Technology Group Corporation
The 28th Research Institute of China Electronics
Technology Group Corporation
Nanjing Les Information Technology Co., Ltd. 9,685,563.42 573,780.37 14,814,554.61 823,900.28
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Balance at the End of Prior
Closing Balance
Year
Items
Allowance for Allowance for
Gross Balance Gross Balance
Credit Losses Credit Losses
Shanghai Potevio Co., Ltd. 8,755,534.00 8,755,534.00 8,755,534.00 8,755,534.00
Taiji Computer Corporation Limited 8,204,723.11 82,047.28 8,204,723.11 82,047.28
Hebei Yuandong Communication System
Engineering Co., Ltd.
Potevio Information Technology Co., Ltd. 5,901,092.80 5,901,092.80 5,983,345.58 5,983,345.58
Nanjing Guorui Defense System Co., Ltd. 5,510,956.29 55,109.56 3,346,725.58 47,694.88
CETC Potevio Technology Co., Ltd. 5,414,212.80 386,271.28 5,414,212.80 336,471.28
Potevio Communication Co., Ltd. 4,317,924.00 4,317,924.00 4,317,924.00 4,317,924.00
CETC Digital Technology Co., Ltd. 3,886,273.41 38,862.73 253,022.35 2,530.27
China Potevio Information Industry Co., Ltd. 3,222,253.45 3,108,221.70 3,222,253.45 3,103,328.36
Nanjing Lop Co., Ltd. 3,158,384.63 31,583.85 4,238,987.48 42,389.87
CETC Cloud (Beijing) Technology Co., Ltd. 3,002,916.00 30,029.16 2,576,051.00 25,760.51
Tianbo Electronic Information Technology Co.,
Ltd.
Academy of Information Science, China
Electronics Technology Group Corporation
The 54th Research Institute of China Electronics
Technology Group Corporation
Nanjing Rail Transit System Engineering Co., Ltd. 993,349.94 49,131.57 993,349.94 41,446.64
Shanghai Posts & Telecommunications Equipment
Co., Ltd.
Nanjing Nanman Electric Co., Ltd. 203,312.17 2,598.79 178,506.17 2,350.78
CETC Metrology, Testing and Certification
(Beijing) Co., Ltd.
Potevio Rail Transit Technology (Shanghai) Co.,
Ltd.
Sichuang Electronics Co., Ltd. 143,812.88 40,002.38 143,812.88 60,045.38
Guorui Technology Co., Ltd. 109,957.83 1,387.58 109,957.83 1,387.58
Nanjing Meichen Microelectronics Co., Ltd. 98,000.00 4,900.00 101,460.00 5,073.00
Nanjing Enruite Industrial Co., Ltd. 51,667.18 516.67
Nanjing Guorui Xinwei Software Co., Ltd. 40,625.01 2,031.25 40,625.01 2,031.25
CETC (Nanjing) Electronic Information
Development Co., Ltd.
Nanjing Lop Technology Co., Ltd. 720.00 7.20 82,071.00 820.76
The 55th Research Institute of China Electronics
Technology Group Corporation
amount to 103,117,468.48 25,560,464.57 100,210,027.64 25,366,546.63
Notes Receivable：
The 14th Research Institute of China Electronics
Technology Group Corporation
The 54th Research Institute of China Electronics
Technology Group Corporation
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Balance at the End of Prior
Closing Balance
Year
Items
Allowance for Allowance for
Gross Balance Gross Balance
Credit Losses Credit Losses
The 28th Research Institute of China Electronics
Technology Group Corporation
Nanjing Guorui Xinwei Software Co., Ltd. 3,089,786.81 213,978.68
CETC Potevio Technology Co., Ltd. 747,000.00
Nanjing Meichen Microelectronics Co., Ltd. 686,000.00 34,300.00
amount to 461,544.64 6,952.23 7,782,406.81 411,259.68
Other Receivables：
Nanjing Potevio Communication Technology Co.,
Ltd.
Potevio Information Technology Co., Ltd. 367,800.00 367,800.00 367,800.00 367,800.00
Beijing Capitel Co., Ltd. 95,096.52 4,754.83 84,900.52 4,245.03
China Far East International Tendering Co.,
Ltd.
The 14th Research Institute of China Electronics
Technology Group Corporation
Potevio Information Engineering Design Service
Co., Ltd.
China Potevio Information Industry Co., Ltd. 1,000.00 1,000.00 1,000.00 1,000.00
Beijing Likepu Communication Equipment Co.,
Ltd.
Hangzhou Hikvision Technology Co., Ltd. 22,630.00 22,630.00 22,630.00 22,630.00
Hangzhou Hikvision Digital Technology Co.,
Ltd. Nanjing Branch
amount to 31,237,434.95 31,098,263.26 31,273,621.09 31,100,072.57
(2) Accounts Payable Items
Balance at the End of Prior
Items Closing Balance
Year
Accounts Payable：
China Potevio Information Industry Co., Ltd. 14,918,045.42 14,918,045.42
CETC (Nanjing) Electronic Information Development Co., Ltd. 4,883,705.58 4,932,081.60
Nanjing Nanman Electric Co., Ltd. 3,030,412.33 3,030,412.33
Nanjing Potevio Hongyan Electrical Technology Co., Ltd. 195,824.09 195,824.09
Potevio High-tech Industry Co., Ltd. 25,000.00 25,000.00
Nanjing Potevio Communication Industry Co., Ltd. 123,848.19
Hangzhou Hongyan Electrical Appliances Co., Ltd. 3.69
amount to 23,176,839.30 23,101,363.44
Other Payables：
China Potevio Information Industry Group Co., Ltd. 9,591,612.50 9,591,612.50
Potevio High-tech Industry Co., Ltd. 1,442,202.94 1,442,202.94
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Balance at the End of Prior
Items Closing Balance
Year
Nanjing Potevio Information Technology Co., Ltd. 2,467,412.69 2,467,412.69
amount to 13,501,228.13 13,501,228.13
Contract Liabilities：
China Potevio Information Industry Co., Ltd. 3,727,418.22 3,727,418.22
China Potevio Information Industry Group Co., Ltd. 11,716.35 11,716.35
amount to 3,739,134.57 3,739,134.57
XI. Commitments and Contingent Matters
As of the reporting date, the Company has no material commitments requiring disclosure.
As of the reporting date, the Company has no material contingent matters requiring disclosure.
XII. Events Occurring After the Balance Sheet Date
As of the reporting date, there are no other subsequent events after the balance sheet date that require
disclosure.
XIII. Other Important Matters
(I) Branch Report
The company determines its reporting divisions based on its internal organizational structure, management
requirements, and internal reporting systems, with product divisions serving as the fundamental basis.
Performance evaluations are conducted separately for video conferencing products, integrated wiring products,
distribution wiring products, and other business segments. Assets and liabilities shared among the divisions are
allocated proportionally according to their respective scales.
The company determines its reporting segments based on product segments. The assets and liabilities of
each segment represent the actual amounts utilized, while the main business revenue and costs correspond to
those of each respective product segment.
video Integrated Communication
Inter-branch
project conferencing Cabling basic products
offset
product product and others
I. Operating Revenue 113,955,614.44 160,248,114.99 26,030,279.71 -1,160,968.36
II. Operating Costs 96,833,635.87 132,910,466.74 17,837,758.02 -1,060,854.04
III. Investment Returns from Joint Ventures
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
video Integrated Communication
Inter-branch
project conferencing Cabling basic products
offset
product product and others
and Cooperative Enterprises
IV. Credit Impairment Loss -1,491,602.10 -400,788.58 1,529,912.33
V. Asset Impairment Loss
VI. Depreciation and Amortization
Expenses
VII. Total Profit -5,043,841.55 6,629,830.49 -4,599,468.36 -155,469.60
VIII. Income Tax Expenses 20,942.43 238,746.35
IX. Net Profit -5,064,783.98 6,391,084.14 -4,599,468.36 -155,469.60
X. Total Assets 326,124,538.46 306,291,324.83 254,296,549.86
XI. Total Liabilities 213,365,426.16 190,704,442.67 358,451,918.34
(II) Others
The Company pledged the capital contribution of RMB 28.534 million corresponding to its 56.28% equity
interest in Nanjing Southern Telecom Co., Ltd. to CETC Guorui Group Co., Ltd. (hereinafter referred to as the
Parent Company), to facilitate the loan provided to the Company by the finance company entrusted by the
Parent Company. The Company also pledged the capital contribution of RMB 4.00 million corresponding to its
Leasing Co., Ltd. for the finance leasing business handled by the Company with CETC Finance Leasing Co.,
Ltd. Transfer of the above-mentioned equity interests in subsidiaries is restricted prior to the release of such
pledges.
XIV. Notes to Key Items in the Parent Company's Financial Statements
(1) Disclosure by aging of accounts
Account Age ending balance Year-end balance
Within 1 year 22,743,841.62 26,145,588.39
More than 5 years 163,486,854.39 164,589,421.40
subtotal 236,001,875.23 232,355,887.18
Less: Bad debt provision 170,376,471.86 171,443,995.15
amount to 65,625,403.37 60,911,892.03
(2) Classified presentation according to the bad debt provisioning method
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
ending balance
book balance bad debt provision
class
Percentage Proportion book value
amount of money amount of money
(%) (%)
accounts receivable for 74,010,243.34 31.36 74,010,243.34 100.00
which bad debt
provisions are made on a
per-item basis
Accounts receivable for 161,991,631.89 68.64 96,366,228.52 59.49 65,625,403.37
which bad debt
provisions are made on a
combined basis
among ：
combination 1: Age of 155,088,334.48 65.71 96,366,228.52 62.14 58,722,105.96
Account Combination
Combination 2: Related 6,903,297.41 2.93 6,903,297.41
Parties Combination
amount to 236,001,875.23 —— 170,376,471.86 72.19% 65,625,403.37
（ continuous ）
Year-end balance
book balance bad debt provision
class
Percentage book value
amount of money amount of money Proportion (%)
(%)
accounts receivable
for which bad debt
provisions are made
on a per-item basis
Accounts receivable
for which bad debt
provisions are made
on a combined basis
among ：
combination 1: Age of
Account Combination
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Year-end balance
book balance bad debt provision
class
Percentage book value
amount of money amount of money Proportion (%)
(%)
Combination 2:
Related Parties 6,903,297.41 2.97 6,903,297.41
Combination
amount to 232,355,887.18 100 171,443,995.15 73.79 60,911,892.03
① Accounts receivable for which a separate bad debt provision is made at the end of the period
ending balance
Proportion
Accounts Receivable (by Unit) bad debt
book balance of Calculation Basis
provision
Deduction
Dongpo Xi Laos Co., Ltd. 100.00
carries risks.
Xu Mou 100.00
carries risks.
China Tower Co., Ltd. 100.00
carries risks.
Putian Information Technology Co., Ltd. 100.00
carries risks.
China Railway Communication and 3,227,803.35 3,227,803.35
The recovery process
Signal Shanghai Engineering Group Co., 100.00
carries risks.
Ltd.
other 100.00
carries risks.
amount to 74,010,243.34 74,010,243.34 100.00 ——
Continue the table above
Year-end balance
Proportion
Accounts Receivable (by Unit) bad debt
book balance of Calculation Basis
provision
Deduction
The recovery process
Dongpo Xi Laos Co., Ltd. 19,708,086.54 19,708,086.54 100.00
carries risks.
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Year-end balance
Proportion
Accounts Receivable (by Unit) bad debt
book balance of Calculation Basis
provision
Deduction
The recovery process
Xu Mou 17,591,683.74 17,591,683.74 100.00
carries risks.
The recovery process
China Tower Co., Ltd. 13,819,926.92 13,819,926.92 100.00
carries risks.
The recovery process
Putian Information Technology Co., Ltd. 4,450,269.30 4,450,269.30 100.00
carries risks.
China Railway Communication and Signal The recovery process
Shanghai Engineering Group Co., Ltd. carries risks.
The recovery process
other 15,419,803.33 15,419,803.33 100.00
carries risks.
amount to 74,517,573.18 74,517,573.18 100.00 ——
② Accounts receivable for which bad debt provisions are calculated based on the aging group within the
combination
ending balance
project
book balance bad debt provision Proportion (%)
Within 1 year 18,973,785.21 189,737.85 1.00
More than 5 years 89,531,591.05 89,531,591.05 100.00
amount to 155,088,334.48 96,366,228.52 62.14
（ continuous ）
Year-end balance
project
book balance bad debt provision Proportion (%)
Within 1 year 22,375,531.98 223,755.32 1.00
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Year-end balance
project
book balance bad debt provision Proportion (%)
More than 5 years 90,126,828.22 90,126,828.22 100.00
amount to 150,935,016.59 96,926,421.97 64.22
(3) Status of bad debt provisions
Amount of Change for This Period
Year-end
class Accruishment Recover or Write-off or ending balance
balance
Roll Back cancellation
Accruishment
based on the
aging of 96,926,421.97 -560,193.45 96,366,228.52
accounts
receivable
Individual
Provisioning
amount to 171,443,995.15 -560,193.45 507,329.84 170,376,471.86
Among these: The amount of bad debt provisions recovered or reversed in this period is significant.
Amount to be
name of organization Recovery Method
recovered or reversed
CRSC Shanghai Engineering Bureau Group Co., Ltd. 300,000.00 Recovered Amount
China Railway Communication and Signal Shanghai
Engineering Group Co., Ltd.
Putian Information Technology Co., Ltd. 64,531.61 Recovered Amount
amount to 507,329.84 ——
(4) Details of the top five accounts receivable by the debtor's end-of-period balances
End-of-period Proportion (%) of the End-of-period
Debtor's Name balance of accounts total ending balance of balance of bad debt
receivable accounts receivable provisions
Dongpo Xi Laos Co., Ltd. 19,708,086.54 8.35 19,708,086.54
Xu Mou 17,591,683.74 7.45 17,591,683.74
The 14th Research Institute of
China Electronics Technology 15,669,192.34 6.64 156,691.92
Group Corporation
China Tower Co., Ltd. 13,819,926.92 5.86 13,819,926.92
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
End-of-period Proportion (%) of the End-of-period
Debtor's Name balance of accounts total ending balance of balance of bad debt
receivable accounts receivable provisions
Shanghai Putian Youtong
Technology Co., Ltd.
amount to 75,544,423.54 32.01 60,031,923.12
project ending balance Year-end balance
dividends receivable 19,532,000.00 28,685,400.00
accounts receivable-other 1,537,952.16 1,805,885.66
amount to 21,069,952.16 30,491,285.66
(1) Dividends receivable
① Dividend receivable status
Project (or the invested entity) ending balance Year-end balance
Subsidiary dividend 19,532,000.00 28,685,400.00
(2) Other Receivables
① Disclosure by aging of accounts
Account Age ending balance Year-end balance
Within 1 year 1,053,287.68 886,060.97
More than 5 years 37,521,145.74 37,528,845.74
subtotal 44,633,266.65 45,140,011.19
Less: Bad debt provision 43,095,314.49 43,334,125.53
amount to 1,537,952.16 1,805,885.66
② Classification by nature of funds
Book balance at the end
Nature of the Fund End-of-period book balance
of the previous year
Accounts Receivable and Payables 40,030,170.64 40,613,763.14
Deposit Guarantee Fund 3,437,613.02 3,702,805.50
Business travel petty cash fund 41,492.59 31,492.59
other 1,123,990.40 791,949.96
subtotal 44,633,266.65 45,140,011.19
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Less: Bad debt provision 43,095,314.49 43,334,125.53
amount to 1,537,952.16 1,805,885.66
③ Provision for bad debts
stage Ⅰ stage Ⅱ phase III
Expected credit
Expected credit
losses throughout
losses throughout
bad debt provision Expected credit the entire amount to
the entire duration
losses over the duration (where
(incorporating
next 12 months no credit
already occurred
impairment has
credit impairment)
occurred)
Year-end balance 12,356,030.63 30,978,094.90 43,334,125.53
This period's accrual -238,811.04 -238,811.04
ending balance 12,117,219.59 30,978,094.90 43,095,314.49
④ Status of bad debt provisions
Amount of Change for This Period
Year-end
class Accruishment Recover or Write-off or ending balance
balance
Roll Back cancellation
Age of Debt
Provision
Individual
Provisioning
amount to 43,334,125.53 -238,811.04 43,095,314.49
⑤ Details of the top five other receivables by the debtor's accumulated ending balances
Proportion (%) of
bad debt
name of Nature of the ending the total ending
Account Age provision
organization Fund balance balance of other
ending balance
receivables
Beijing Likang
General Accounts
Communication Receivable 28,912,122.71 More than 5 years 64.78 28,912,122.71
Equipment Co., and Payables
Ltd.
Nanjing Putian Accounts 1,784,619.72 2–3 years: 4.00 1,784,619.72
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Proportion (%) of
bad debt
name of Nature of the ending the total ending
Account Age provision
organization Fund balance balance of other
ending balance
receivables
Technology Co., Receivable 21,306.39; 4–5
Ltd. and Payables years: 504,197.5;
over 5 years:
Nanjing Putian Accounts
Communication Receivable 805,545.63 More than 5 years 1.80 805,545.63
Industry Co., Ltd. and Payables
Nanjing Putian
Accounts
Tianji Building
Receivable 566,576.28 Within 1 year 1.27
Intelligence Co.,
and Payables
Ltd.
Nanjing
Municipal Office
for the
Management of Deposit
Wage Guarantee Guarantee 400,000.00 More than 5 years 0.90 400,000.00
Funds for Fund
Migrant Workers
in Construction
Enterprises
amount to —— 32,468,864.34 —— 72.75 31,902,288.06
(1) Classification of Long-term Equity Investments
ending balance Year-end balance
project Impairment Impairment
book balance book value book balance book value
Provision Provision
Investment
in a 43,226,458.52 1,294,510.00 41,931,948.52 43,226,458.52 1,294,510.00 41,931,948.52
subsidiary
amount to 43,226,458.52 1,294,510.00 41,931,948.52 43,226,458.52 1,294,510.00 41,931,948.52
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
(2) Investment in subsidiaries
An
Redu impairmen
Add End-of-period
ce in t provision
Year-end to balance of
Invested entity this ending balance has been
balance this impairment
perio recognize
issue provision
d d for this
period.
Nanjing Putian
Tianji Building
Intelligence Co.,
Ltd.
Nanjing Southern
Telecommunicatio 33,175,148.00 33,175,148.00
ns Co., Ltd.
Nanjing Putian
Datang
Information 5,436,797.07 5,436,797.07
Electronics Co.,
Ltd.
Nanjing Putian
Communication
Technology Co.,
Ltd.
amount to 43,226,458.52 43,226,458.52 1,294,510.00
Amount for this period Previous period amount
project
income prime cost income prime cost
main business 13,873,538.26 10,940,822.33 16,260,961.31 14,735,889.65
Other Businesses 2,968,754.03 488,705.26 1,599,677.71 6,869.82
amount to 16,842,292.29 11,429,527.59 17,860,639.02 14,742,759.47
Explanation of allocation to the remaining performance obligations
At the end of the reporting period, the amount of revenue corresponding to performance obligations under
signed contracts that have not yet been performed or not fully performed is RMB 13.5396 million, of which
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
RMB 13.5396 million is expected to be recognized as revenue in 2026.
project Amount for this period Previous period amount
Income from long-term equity investments
-111.44
accounted for using the equity method
Gain on disposal of long-term equity investments 13,074.70
Others 668,932.96 9,290,594.46
amount to 682,007.66 9,290,483.02
XV. Supplementary Information
amount of
project explain
money
Gains or losses from the disposal of non-liquid assets, including the offset
portion of asset impairment provisions already recognized;
Government grants recognized in current period profit or loss shall exclude
those that are closely related to the company's normal business operations,
comply with national policy regulations, are received according to 122,125.08
established standards, and exert a sustained impact on the company's
financial results.
Reversal of impairment provisions for receivables subjected to separate
impairment testing;
Profit or loss from debt restructuring; 672,229.56
Other non-operating income and expenses other than those mentioned
above.
Other profit and loss items that meet the definition of non-recurring gains
and losses
Total non-recurring gains and losses before income tax 1,950,442.79
reduction: Amount affected by income tax 26,962.43
Total non-recurring gains and losses after income tax deduction 1,923,480.36
Impact of minority shareholders' profit/loss (losss are indicated with "-") 96,420.43
Net profit excluding non-recurring gains and losses attributable to the
owners of the parent company
Profit for the reporting period Weighted Average earnings per share
Net Assets
rate of return （%）
Nanjing Putian Telecommunications Co., Ltd. 2026 Semi-Annual Financial Report
Basic Earnings diluted earnings
Per Share per share
Net profit attributable to the company's ordinary
-131.84 -0.030 -0.030
stockholders
Net profit attributable to common shareholders
-168.58 -0.040 -0.040
after deducting non-recurring gains and losses
Nanjing Putian Telecommunications Co., Ltd.
August 25, 2026
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