Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare Precision Industry Co. Ltd.
2025 Annual Report
April 2026
1Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2025 Annual Report
Section I Important Notice Table of Contents and Definitions
The Board of Directors directors and senior management of the Company hereby warrant that the contents of this annual
report (hereinafter referred to as the “Report”) are true accurate and complete without any false records misleading
statements or material omissions and assume individual as well as joint and several legal liability.Wang Laichun the person in charge of the Company Wu Tiansong the person in charge of accounting and Chen Huiyong
the person in charge of the accounting department (accounting supervisor) declare that they guarantee the truthfulness
accuracy and completeness of the financial report in this Report.All directors attended the Board meeting at which this Report was reviewed.For risks related to the Company please refer to “XI. Outlook for the Company’s Future Development” in “Section IIIManagement Discussion and Analysis” of this Report.The profit distribution proposal reviewed and approved by the Board is as follows: Based on a total of 7276084264 shares a
cash dividend of RMB1.4 (inclusive of tax) per 10 shares will be distributed to all shareholders with no bonus shares issued
(inclusive of tax) and no capitalization of capital reserves into share capital.
2Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Table of Contents
Section I Important Notice Table of Contents and D... 2
Section II Company Profile and Key Financial Indic... 8
Section III Management Discussion and Analysis ..... 13
Section IV Corporate Governance Environmental and .. 86
Section V Significant Matters ..................... 112
Section VI Share Changes and Shareholder Informati. 135
Section VII Bonds ................................. 143
Section VIII Financial Report ..................... 164
3Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Documents Available for Inspection
I. Financial reports bearing the signatures and seals of the person in charge of the Company the person in charge of accounting and
the person in charge of the accounting department.II. The original of the auditor’s report bears the seal of the accounting firm and the signatures and seals of the relevant CPAs.III. The originals of all Company documents and all announcements publicly disclosed on the website designated by the China
Securities Regulatory Commission (CSRC) during the Reporting Period (hereinafter referred to as the “Reporting Period”).IV. Other relevant information.
4Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Definitions
Term Refers to Description
Company or Luxshare-ICT Refers to Luxshare Precision Industry Co. Ltd.Luxshare Limited the founder and controlling shareholder of Luxshare-
Luxshare Limited Refers to
ICT
ICT-Lanto Refers to ICT-Lanto Limited
Luxshare Precision Refers to Luxshare Precision Limited
Luxshare Jiangsu Refers to Luxshare Precision Industry (Jiangsu) Co. Ltd.Luxshare Shanxi Refers to Shanxi Luxshare Precision Industry Co. Ltd.Luxshare Dongguan Refers to Dongguan Luxshare Precision Industry Co. Ltd.Luxshare Suzhou Refers to Luxshare Precision Industry (Suzhou) Co. Ltd.Luxshare Chuzhou Refers to Luxshare Precision Industry (Chuzhou) Co. Ltd.Luxshare Kunshan Refers to Luxshare Precision Industry (Kunshan) Co. Ltd.Luxshare Baoding Refers to Luxshare Precision Industry (Baoding) Co. Ltd.Luxshare Xuancheng Refers to Xuancheng Luxshare Precision Industry Co. Ltd.Luxshare Yancheng Refers to Luxshare Precision Industry (Yancheng) Co. Ltd.Luxshare Enshi Refers to Luxshare Precision Industry (Enshi) Co. Ltd.Luxshare Vietnam Refers to Luxshare-ICT (Vietnam) Company Limited
Luxshare Van Trung Refers to Luxshare-ICT (Van Trung) Company Limited
Luxshare-ICT Nghe An Refers to Luxshare-ICT (Nghe An) Company Limited
Luxshare Acoustics Refers to Shenzhen Luxshare Acoustics Technology Ltd.Luxshare ITech Refers to Luxshare ITech (Zhejiang) Co. Ltd.Luxshare Merry Refers to Guangdong Luxshare Merry Electronics Co. Ltd.Asap Technology (Jiangxi) Refers to Asap Technology (Jiangxi) Co. Ltd.Xiexun Jiangxi Refers to Xiexun Electronic (Ji’an) Co. Ltd.Jiangxi Luxshare Intelligent
Refers to Jiangxi Luxshare Intelligent Manufacture Co. Ltd.Manufacture
Lanto Bozhou Refers to Bozhou Lanto Electronic Limited
5Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Xuntao Bozhou Refers to Bozhou Xuntao Electronics Co. Ltd.Merry Suzhou Refers to Merry Electronics (Suzhou) Co. Ltd.Huzhou Jiuding Refers to Huzhou Jiuding Electronic Co. Ltd.Lanto Kunshan Refers to Lanto Electronic Limited
Kunshan RF Refers to Kunshan Luxshare RF Technology Co. Ltd.Dongguan Liding Refers to Liding Electronic Technology (Dongguan) Co. Ltd.Luxcase Yancheng Refers to Luxcase Precision Technology (Yancheng) Co. Ltd.Xiexun Wan’an Refers to Wan’an Xiexun Electronic Co. Ltd.Intelligent Manufacture Changshu Refers to Luxshare Intelligent Manufacture Technology (Changshu) Co. Ltd.Fujian JK Refers to Fujian JK Wiring Systems Co. Ltd.Xingning Electronic Refers to Xingning Luxshare Electronic Co. Ltd.Luxsan Kunshan Refers to Luxsan Technology (Kunshan) Co. Ltd.BCS Suzhou Refers to BCS Automotive Technology (Suzhou) Co. Ltd.SpeedTech Refers to SpeedTech Corp.Luxshare Automation Jiangsu Refers to Luxshare Automation (Jiangsu) Ltd.Dongguan Luxshare Technology Refers to Dongguan Luxshare Technologies Co. Ltd.Luxshare Electronic Technology
Refers to Luxshare Electronic Technology (Kunshan) Ltd.Kunshan
Luxshare Electronic Technology
Refers to Luxshare Electronic Technology (Enshi) Co. Ltd.Enshi
TIME Interconnect Technology Refers to TIME Interconnect Technology Limited
Huarong Technologies Refers to Shenzhen Huarong Technologies Co. Ltd.BCS Germany Refers to BCS Automotive Interface Solutions GmbH (Germany)
BCS USA Refers to BCS Automotive Interface Solutions US LLC (USA)
BCS Romania Refers to BCS Automotive Interface Solutions Romania s.r.l. (Romania)
Luxsan Hong Kong Refers to Luxsan Technology Limited
Luxsan Investment Refers to Luxsan Investment (Jiangsu) Co. Ltd.
6Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxsan Equipment Refers to Luxsan Intelligent Equipment (Kunshan) Co. Ltd.Chery Parts Refers to Wuhu Chery Auto Parts Procurement Co. Ltd.Chery Commercial Vehicle Refers to Chery Commercial Vehicle (Anhui) Company Limited
Chery Henan Refers to Chery Automobile Henan Co. Ltd.Chery New Energy Refers to Chery New Energy Automotive Co. Ltd.Ruijing Anhui Refers to Ruijing (Anhui) Supply Chain Technology Co. Ltd.Cowell Dongguan Refers to Dongguan Cowell Optic Electronics Ltd.Cowell Hong Kong Refers to Cowell Optic Electronics Ltd.Teleray Hong Kong Refers to Teleray (Hong Kong) International Company Limited
Dongguan DLC Refers to Dongguan DLC Leather Products Co. Ltd.Luxsan Trading Refers to Luxsan (Hong Kong) Trading Limited
The Articles of Association Refers to Articles of Association of Luxshare Precision Industry Co. Ltd.
7Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section II Company Profile and Key Financial Indicators
I. Company Information
Stock abbreviation Luxshare-ICT Stock code 002475
Stock exchange Shenzhen Stock Exchange
Chinese name 立讯精密工业股份有限公司
Chinese abbreviation 立讯精密
English name (if any) Luxshare Precision Industry Co. Ltd.English abbreviation (if any) Luxshare-ICT
Legal representative Wang Laichun
2/F Block A Sanyang New Industrial Zone West Haoyi Shajing Subdistrict Bao’an
Registered address
District Shenzhen
Postal code of registered address 518104
Historical changes of registered address N/A
Office address 313 Beihuan Road Qingxi Town Dongguan City Guangdong Province
Postal code of office address 523642
Company website https://www.luxshare-ict.com/
Email Public@luxshare-ict.com
II. Contacts and Contact Information
Board Secretary Securities Affairs Representative
Name Xiao Yunxi Chen Weihang
313 Beihuan Road Qingxi Town Dongguan 313 Beihuan Road Qingxi Town Dongguan City
Address
City Guangdong Province Guangdong Province
Tel. 0769-87892475 0769-87892475
Fax 0769-87732475 0769-87732475
Email Yui.Hsiao@luxshare-ict.com Weihang.Chen@luxshare-ict.com
III. Information Disclosure and Filing Location
Website for annual report disclosure Shenzhen Stock Exchange (www.szse.cn)
Media for annual report disclosure Securities Times Shanghai Securities News and CNINFO
8Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(http://www.cninfo.com.cn)
Place where the Annual Report is available for inspection Company’s Securities Affairs Office
IV. Registration Changes
Unified social credit code 91440300760482233Q
Changes in principal business since listing (if any) None
Changes in controlling shareholder (if any) None
V. Other Relevant Information
Accounting firm engaged by the Company
BDO China Shu Lun Pan Certified Public Accountants
Accounting firm
LLP
Rooms 1 2 and 3 4/F 61 East Nanjing Road Huangpu
Office address
District Shanghai
Signing CPAs Zhang Huice and Zhang Yehua
Sponsor engaged by the Company to perform continuous supervision duties during the Reporting Period
□ Applicable □Not applicable
Financial advisor engaged by the Company to exercise continuous supervision during the Reporting Period
□ Applicable □Not applicable
VI. Key Accounting Data and Financial Indicators
Whether the Company needs to retrospectively adjust or restate previous years’ accounting data
□ Yes □No
2025 2024 YoY change 2023
Operating revenue (RMB) 332344443143.39 268794737612.58 23.64% 231905459829.83
Net profit attributable to
shareholders of the listed company 16599769785.64 13365651026.16 24.20% 10952656702.16
(RMB)
Net profit attributable to
shareholders of the listed company
14168855968.1511694305563.2721.16%10185553553.99
after deducting non-recurring gains
or losses (RMB)
Net cash flows from operating
17325329533.9727116908208.53-36.11%27605060411.16
activities (RMB)
Basic earnings per share
2.291.8623.12%1.54
(RMB/share)
Diluted earnings per share
2.261.8522.16%1.53
(RMB/share)
9Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Decreased
Weighted average return on equity by 0.24
21.10%21.34%21.61%
(ROE) percentage
points
Year-end
End of 2025 End of 2024 End of 2023
change YoY
Total assets (RMB) 306537675786.42 223827584433.26 36.95% 161992099595.65
Net assets attributable to
shareholders of the listed company 84921103420.87 69327010925.99 22.49% 56310184510.60
(RMB)
Whether the lower of net profit before and after deducting non-recurring gains or losses for the last three fiscal years is negative and
whether the auditor’s report for the last year indicates uncertainty about the Company’s ability to continue as a going concern
□ Yes □No
Whether the lowest value among audited total profit net profit and net profit after deducting non-recurring gains or losses for the
Reporting Period is negative
□ Yes □No
VII. Differences in Accounting Data under Domestic and International Accounting Standards
1. Differences in net profit and net assets between financial reports disclosed under International Accounting Standards (IAS)
and Chinese Accounting Standards (CAS)
□ Applicable □Not applicable
During the Reporting Period the Company did not have differences in net profit or net assets between financial reports prepared under
IAS and CAS.
2. Differences in net profit and net assets between financial reports disclosed under overseas accounting standards and CAS
□ Applicable □Not applicable
During the Reporting Period the Company did not have differences in net profit or net assets between financial reports disclosed under
overseas accounting standards and CAS.VIII. Key Financial Indicators by Quarter
Unit: RMB
Q1 Q2 Q3 Q4
Operating revenue 61787689862.63 62715484252.97 96411453423.77 111429815604.02
Net profit attributable
to shareholders of the 3043574684.79 3600697364.67 4874019115.27 5081478620.91
listed company
Net profit attributable
to shareholders of the
listed company after
2409413794.473190019705.103942594019.784626828448.80
deducting non-
recurring gains or
losses
Net cash flows from
-6691655420.465033845138.075135849571.6213847290244.74
operating activities
10Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Whether the above financial indicators or their aggregate amounts are significantly different from the relevant financial indicators
disclosed by the Company in its quarterly and semi-annual reports
□ Yes □No
IX. Non-recurring Gains or Losses and Amounts
□Applicable □ Not applicable
Unit: RMB
Item 2025 2024 2023 Note
Gains or losses on disposal of non-current assets
(including the write-off/reversal of asset impairment -17418397.37 1583392.42 106350953.11
provisions)
Government grants recognized in profit or loss for the
current period (except for government grants that are
closely related to the Company’s regular operations
comply with national policies are granted in 827502791.66 933138071.97 791098788.52
accordance with national policies and defined
standards and have a continuing impact on the
Company’s profit or loss)
Gains or losses from changes in fair value of financial
assets and financial liabilities held by non-financial
enterprises and gains or losses from the disposal of
1093310008.821044148947.84488375997.34
financial assets and financial liabilities except for
effective hedging business related to the Company’s
regular business
Gains or losses from entrusted investment or asset
1379688445.70906650515.66189969851.82
management
Gains arising where the investment cost of acquiring
subsidiaries associates or joint ventures is lower than
479317064.85
the fair value of the investee’s identifiable net assets
attributable to the Company at the time of acquisition
Other non-operating income and expenses other than
-23539377.491906501.5841640366.02
the above items
Other items meeting the definition of non-recurring
-328437371.09-476778306.58-601026495.49
gains or losses
Gains on disposal of investments in associates 10018847.56
Less: Effect of income tax 424961257.64 412248026.21 158749222.86
Effect of minority interests (after tax) 554548089.95 337074481.35 90557090.29
Total 2430913817.49 1671345462.89 767103148.17 --
Details of other items meeting the definition of non-recurring gains or losses
□ Applicable □Not applicable
The Company had no other items meeting the definition of non-recurring gains or losses.
11Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Reclassification of certain non-recurring items as recurring items under the Explanatory Announcement No.1 on Information Disclosure
for Companies Offering Securities to the Public: Non-recurring Gains or Losses
□ Applicable □Not applicable
The Company had no items reclassified from non-recurring to recurring gains or losses as listed in Explanatory Announcement No.1
on Information Disclosure for Companies Offering Securities to the Public: Non-recurring Gains or Losses.
12Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section III Management Discussion and Analysis
I. Principal Business during the Reporting Period
During the Reporting Period the Company was primarily engaged in components modules and system integration business for the
consumer electronics communications and data center automotive and medical sectors including but not limited to the following
product lines:
I. Consumer Electronics Business
1. Components: Connectors wiring harness assemblies speakers receivers microphones Wi-Fi modules haptic actuators voice coil
motors (VCM) antennas Bluetooth modules power components (power cords uninterruptible power supply [UPS] inverters power
strips charging plugs wireless charging transceiver modules and chargers) magnetic components molded plastic parts metal
structural parts 3D-printed parts soft exterior covers (Soft Goods) hinges and other components.
2. Modules: Display modules mini LED modules System-in-Package (SiP) assemblies Memory-on-Package (MOP) modules
embodied robotic dexterous hands and similar modules etc..
3. System integration:
Acoustic products: Telephone headsets over-ear headphones true wireless stereo (TWS) earbuds bone-conduction sports headphones
AI conference headsets conference speakers soundbars etc.Smart wearable devices: AI glasses augmented/virtual/extended reality (AR/VR/XR) glasses smart bands smart rings smart watches
smart wristbands etc.Smart home: Smart speakers smart cameras smart switches smart doorbells smart door locks robotic vacuum cleaners electric
toothbrushes facial cleansing devices beauty devices massagers smart emotional companion robots/pets etc.Outdoor electronic products: Action cameras drones smart gimbals electric scooters outdoor energy storage power supplies etc.Networking products: Wi-Fi 6/Wi-Fi 7 routers 5G customer premises equipment (CPE) 5G mmWave CPE etc.Other consumer-grade systems: Electronic shelf labels electronic toll collection (ETC) devices electronic temperature and humidity
sensors mobile POS terminals home 2D/3D printers video conferencing cameras electronic styluses blood glucose monitoring
devices insulin pumps hearing aids etc.II. Communications and Data Center Business
i. Data center business
1. High-speed copper cable interconnection solutions:
Intrepid high-speed backplane solutions CPC & NPC solutions high-speed external interconnect solutions (DAC/ACC/Lite Active
Cables and related connectors) high-speed internal interconnect solutions (high-speed internal cables SSIO and Riser Cables) etc.
2. High-speed optical interconnect solutions:
DPO modules and AOCs LPO modules and AOCs LRO modules and AOCs supporting data rates up to 1.6T; form factors include
SFP QSFP QSFP-DD OSFP and SMF/MMF fiber.
3. Thermal management solutions:
Four product series—active passive liquid-cooling and temperature-controlled systems—including fan modules of all specifications
heat sinks heat pipes vapor chambers (VC) cold-plate liquid-cooling systems manifolds in-rack coolant distribution units (CDU)
cabinet-type CDUs blind-mate quick connectors and immersion liquid-cooling tanks.
4. Data center power supply solutions:
Power Shelf & Rectifier (AI cabinet power solutions) Busbar DC distribution 70A–1000A 54V Busbar Clips up to 3200W 12V/54V
AC/DC Common Redundant Power Supplies (CRPS) up to 3200W 12V Modular CRPS (MCRPS) and multiple power
module/VRMs/VPMs (AI node module power solutions).ii. Communications business:
The Company’s communications business focuses on the field of core communications network equipment with core products
covering two major segments:
Network equipment: Including radio frequency (RF) devices such as base station antennas base station filters and duplexers as well
as remote radio units (RRUs) digital indoor distribution systems and microwave backhaul equipment providing core hardware support
for global operators in the construction of 5G/5G-A networks;
Network terminals: Covering satellite communication terminals and cloud computing terminals with an in-depth presence in next-
13Luxshare Precision Industry Co. Ltd. 2025 Annual Report
generation communication technology areas such as low Earth orbit satellite communications and integrated space-air-ground networks.III. Automotive Business
i. Connectors
High-voltage connectors low-voltage connectors high-speed connectors electromechanical integrated structural parts and busbars
coaxial connectors Ethernet connectors USB connectors etc.ii. Wiring harnesses
Vehicle low-voltage wiring harnesses: Cabin engine instrument panel front compartment door roof and other wiring harnesses;
Vehicle high-voltage wiring harnesses: Three-phase motor cables power battery input/output (I/O) wiring harnesses fast and slow
charging wiring harnesses in-pack wiring harnesses and low-power electrical wiring harnesses;
Specialty wiring harnesses: ABS/EPB cables USB/AUX/LED cables in-vehicle infotainment wiring harnesses GPS/Wi-Fi/cellular
signal cables etc.;
Charging connectors: High-power EV charging connectors high-power charging inlets electronic locks high-power terminals etc.iii. Intelligent control
Intelligent assisted driving: High-computing-power intelligent assisted driving domain controllers across system-on-chip (SoC)
platforms that support highway/urban navigate on autopilot (NOA) intelligent driving functions 4D satellite-type long-range mmWave
radars high-performance short-range mmWave radars etc.Smart cockpit: Smart cockpit domain controllers with Qualcomm 8295 Qualcomm 8255 and MTK86-series platforms currently in
mass production and development; AI BOX products under development to enhance cockpit computing power and improve user
experience; windshield head-up displays (W-HUDs) augmented reality head-up display systems (AR-HUDs) telematics
boxes(TBOXs) driver monitoring systems (DMSs) in-vehicle display modules and other related products currently in mass
production;
Smart chassis: Semi-active damping controllers steering system control units (PPKs) active rear steering systems (ARSs) electric
power steering systems (EPSs) electro-mechanical brake system /brake-by-wire systems (EMBs) chassis domain controllers (VMCs)
rear-wheel steering and steer-by-wire systems (RWA & SBW) fully redundant electric power steering assemblies (REPS assemblies)
ball screw assemblies rear-wheel steering assemblies etc.Electronic and electrical products: Wireless charging USB hubs smart entry camera monitor systems (CMSs) etc.iv. Power systems
Automotive multi-in-one powertrains motor control units (MCUs) cells contact system + battery management system products
(CCS+BMSs) battery cell structural components power distribution units (PDUs) direct current-to-direct current converters (DCDCs)
on-board chargers (OBCs) power isolation modules (PNGs) etc.II. Industry Overview during the Reporting Period
During the Reporting Period the Company remained deeply engaged in core fields such as consumer electronics communications and
data centers and automotive technology. In the face of a new round of technological revolution and industrial transformation the
Company further advanced its diversification and vertical integration strategies providing full-stack solutions ranging from underlying
precision components and modules to complete system integration. During the Reporting Period the Company was included in the
“Fortune Global 500” list for the third consecutive year and ranked No. 1 among the “2025 Key Enterprises in China’s ElectronicComponents Industry”. Key subsidiaries of the Company were also recognized among “China’s Top 500 Private Enterprises” and
“China’s Top 500 Private Manufacturing Enterprises”.i. Consumer electronics industry
In 2025 the global consumer electronics market entered an important strategic window of opportunity for the development of on-
device AI hardware. This was driven by the accelerated build-out of computing infrastructure the continuous iteration and optimization
of large-model training capabilities and the improving local deployment capabilities of small models in vertical applications. Existing
hardware brand customers large-model companies social interaction and media players and other participants have all begun to
actively enter the market and deepen their presence in the AI hardware ecosystem. Looking ahead on-device AI hardware is undergoing
profound evolution in form and significant leaps in capability:
1. Supported by the low latency stronger privacy and security and proactive service capabilities enabled by the local operation of AI
models on terminal devices AI smartphones and AI PCs have officially moved beyond the stage of conceptual exploration and entered
a stage of broader adoption in which they are becoming standard configurations for flagship models and rapidly penetrating mid-range
products. Together with the downward penetration of foldable smartphone form factors and the closed loop of software and hardware
ecosystems this is helping the consumer electronics industry move beyond competition within the existing market and become a core
driver of market growth.
14Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Leveraging multimodal model technology and the deep integration of multidimensional sensors such as acoustic optical and haptic
sensors smart wearable devices are gradually evolving from being positioned as “mobile phone accessories” into indispensable
products for all-weather seamless interaction.
3. Terminals such as AR/VR devices smart home products office and mobility devices and emotional companionship devices are
also expected to reach a true inflection point releasing substantial incremental growth potential amid the AI hardware wave.ii. Communications and data center industry
In 2025 global computing infrastructure entered a critical stage of rapid expansion and deep architectural evolution. As large language
models continued to evolve toward ultra-large-scale and multimodal capabilities demand for training and inference in intelligent
computing centers grew exponentially. Requirements for ultra-high computing power ultra-fast interconnection and extreme energy
efficiency have driven accelerated iteration of underlying hardware technologies.At present the industry is at a critical stage of large-scale deployment of high-density computing power clusters. “Parallel advancementof optical and copper interconnect technologies with each complementing the other’s strengths” has become a core strategy in
mainstream architectures. For short-distance interconnection within racks copper connectivity continues to dominate due to its
extremely low latency and ultra-low power consumption.In computing clusters represented by the NVIDIA GB200 NVL72 Cable Cartridges represent a highly optimized engineering
implementation of short-distance interconnection using direct attach copper (DAC). Through a highly integrated modular design they
significantly improve the engineering feasibility of ultra-high-density cabling and effectively enhance deployment and maintenance
efficiency.At the inter-cabinet and long-distance interconnect levels optical modules play a core role in high-speed signal transmission and are
key components for enabling long-distance high-bandwidth data interconnection. From the perspective of technology development
trends silicon photonics has gradually been applied in 800G products and is expected to become one of the mainstream solutions in
the 1.6T era.At the same time as power consumption per cabinet continues to rise sharply the penetration rate of cold-plate liquid cooling is
increasing rapidly in next-generation high-density clusters and it is gradually becoming a standard configuration. High-power-density
power management systems are also advancing alongside the comprehensive upgrade of rack-level power supply architectures from
12V to 48V bus systems with further progression expected toward ±400/800V architectures in the future. These developments are
laying a critical foundation for the energy efficiency and stability of high-density clusters.Looking ahead as the computing power of next-generation AI chips increases by multiples underlying network topology architectures
are expected to undergo disruptive upgrades. Global mainstream computing platforms will continue to evolve toward ultra-large-scale
and ultra-high-density architectures such as NVIDIA Vera Rubin and the more advanced Rubin Ultra. Single-channel data
transmission rates are expected to gradually advance toward 224G/448G Serializer/Deserializer (SerDes) in 2026–2027 driving
interconnection technologies such as Cable Cartridge co-packaged copper interconnects (CPC) near-packaged copper interconnects
(NPC) and co-packaged optics (CPO) to play a more critical role in subsequent product series. Active electrical cables (AEC) linear-
drive pluggable optics (LPO) and eXtra-dense pluggable optical (XPO) devices are also expected to gradually enter small-scale
commercialization further reducing power consumption for high-speed interconnection and optimizing system loads.In the field of application-specific integrated circuits (ASICs) solutions represented by Google TPU and Amazon Trainium/Inferentia
continue to expand in deployment. Such architectures commonly use ultra-low-power DACs or AECs near computing units. At the
macro-cluster level certain solutions such as Google TPU use optical circuit switches (OCS) to enable flexible data flow. This
“copper-optical collaborative interconnection” path has demonstrated differentiated advantages in specific ultra-large-scale intelligent
computing centers.In addition domestic computing power chains represented by Huawei Ascend Hygon Cambricon and others are forming
differentiated technical pathways in areas such as high-speed copper/optical interconnection liquid cooling and power management.The restructuring of regional supply chains has become an important dimension of industry evolution in 2025.In the communications base station field the global base station market in 2025 showed regional and structural growth. The Asia-
Pacific region remained the core market for global base station demand with China India and Japan together accounting for more
than 40% of global base station deployments. Demand for 5G network upgrades remained strong in Europe and North America. In
terms of product structure macro base stations remained the mainstream of the market accounting for more than 70% while demand
for small and micro base stations and indoor distributed base stations grew rapidly. Looking ahead 6G has become a core strategic
direction for the global communications industry. With an integrated space-air-ground-sea architecture at its core 6G will enable full-
domain integration of terrestrial and satellite communications create a globally seamless coverage network break through the
boundaries of 5G technology and achieve Tbps-level transmission rates and sub-millisecond latency thereby opening a new cycle of
technological iteration and market opportunities for the communications network equipment industry.iii. Automotive industry
In 2025 amid the wave of electrification intelligence and connectivity the global automotive industry entered a critical phase with
the industry landscape and technological paradigms undergoing disruptive restructuring.Deeply empowered by AI the current core trends include high-computing-power electronic and electrical domain control architectures
15Luxshare Precision Industry Co. Ltd. 2025 Annual Report
covering the cockpit intelligent driving integrated cockpit-driving systems intelligent body domains and chassis domains as well as
next-generation architectures with central computing as the core computing unit. On the one hand smart cockpits integrate on-device
large models to enable human-like immersive multimodal interaction with functions such as scenario-based proactive services (the
car understands you) over-the-air (OTA) remote function upgrades and active safety monitoring. On the other hand driven by end-
to-end large-model architectures intelligent assisted driving is achieving leapfrog improvements in capabilities from urban NOA to
Level 3/Level 4 autonomous driving. The deep integration of these two areas provides users with a safer and more seamless driving
and riding experience shifting from “people adapting to vehicles” to “vehicles serving people” and significantly enhancing the product
premium and customer loyalty of intelligent vehicles.The global automotive supply chain is also undergoing historic restructuring. Chinese new energy vehicle (NEV) brands are
accelerating their overseas expansion on the strength of their product competitiveness and intelligent capabilities. In the face of intense
global competition traditional overseas original equipment manufacturers (OEMs) are actively embracing Chinese manufacturing and
increasingly prefer outstanding Chinese Tier 1 suppliers with global delivery capabilities independent R&D capabilities and
increasingly partnerning with leading Chinese Tier 1 suppliers with global delivery capabilities independent R&D capabilities and
strong manufacturing capabilities. This enables them to obtain integrated solutions that offer extremely rapid responses to technological
iteration top-tier quality and strong cost competitiveness. This trend is shaping a makert landscape long dominated by traditional
overseas Tier 1 suppliers creating a strategic opportunity for Chinese automotive supply chain companies to enter the ranks of the
world’s leading players.III. Analysis of Core Competitiveness
1. An ultimate pursuit of “breadth depth and precision” and a full-stack vertically integrated development and smart manufacturing
platform
The Company has moved beyond the limitations of traditional manufacturing which is often confined to single components or simple
assembly. With its ultimate pursuit of manufacturing “breadth depth and precision” the Company has built a distinctive full-stack
development and smart manufacturing platform. In terms of technological and process breadth the platform integrates more than 260
process technologies and supports the development and production of over 500 product categories. This has given the Company one
of the most comprehensive and diversified product portfolios among its global peers.In terms of the depth of vertical integration drawing on its deep expertise in fundamental physical technologies such as acoustics
optics electronics thermal management magnetics RF and precision structural components the Company has built a highly scalable
common technology foundation. This enables the Company to provide global customers in consumer electronics automotive
electronics communications data centers and other sectors with cross-sector vertically integrated development capabilities covering
core precision components complex modules and system-level products. Acting as a “ferryman” the Company deeply empowers
customers throughout the full product life cycle from concept research design verification process development pilot production
and mass production to after-sales services. As a result the Company has maintained its position as the world’s fourth-largest and the
Chinese mainland’s largest player in the precision smart manufacturing solutions industry.To efficiently support its large-scale and highly complex full-stack smart manufacturing system while navigating the challenges of
global supply chain restructuring and accelerating product iteration the Company continues to strengthen its evolving smartmanufacturing platform as a core pillar of long-term resilience. Today the Company’s smart factory ecosystem is entering the “SmartManufacturing 2.0” era marked by the deep integration of AI and digital twin technologies. By implementing MES and IoT
connectivity infrastructure and introducing digital models that tightly integrate manufacturing processes with data flows the Company
has established a smart closed-loop operating system capable of autonomous data collection analysis adjustment and execution.Through the deep application of AI algorithms and automated optical inspection (AOI) in manufacturing scenarios the Company has
successfully developed and replicated highly autonomous lights-out factories at scale across both domestic and international operations.This has broken through the traditional constraints of capital-intensive manufacturing and fostered a highly flexible modular
production model with greater operational agility. As a result the Company’s smart manufacturing platform has significantly reduced
the cost of new product trial-and-error achieved a high degree of consistency in manufacturing standards across countries and facilities
and delivered substantial improvements in yield and operational efficiency.
2. Leading global market share and deep empowerment of top-tier brand customers
Through long-term and in-depth cooperation with the world’s leading brand customers the Company has built extremely strong
customer stickiness and a solid foundation of customer trust establishing a global leading edge across core business lines such as
consumer electronics automotive electronics communications and data centers. With steady operations and outstanding performance
amid a complex macro environment the Company was included in the Fortune Global 500 list for three consecutive years from 2023
to 2025 underscoring its indispensable leadership position in the global industrial chain and demonstrating its strong comprehensive
capabilities across industry cycles.Relying on its outstanding integrated smart manufacturing capabilities and agile delivery capacity the Company has continued to
receive consistent recognition from the world’s top customers. Behind its steadily increasing market penetration is the Company’s
ability to serve more than 100 Fortune Global 500 companies through forward-looking technology R&D rapid market response and
stringent quality control. By becoming deeply integrated into the supply chain systems of leading international brands the Company
has moved beyond the role of a basic hardware manufacturer and become an optimal partner that helps global leading customers realize
next-generation product innovation and business visions.
16Luxshare Precision Industry Co. Ltd. 2025 Annual Report
3. Global production footprint and resilient supply chain delivery capabilities
In response to the restructuring of global supply chains and a complex volatile macro environment the Company has built a global
delivery network with strong risk resilience and agile responsiveness. To date the Company has established more than 100 production
bases in nearly 30 countries. This deeply networked resource allocation model effectively hedges against macroeconomic fluctuations
and trade policy risks in any single region enabling the Company to stay close to key overseas customers and provide efficient localized
operations and coordinated delivery. As a result the Company has become a preferred partner for the world’s leading brands seeking
to diversify supply chain risks.To support the efficient operation of its vast global production capacity the Company has deeply integrated digital systems with
manufacturing and established a standardized operating system that spans national borders. Leveraging a strong domestic engineering
talent pool and excellent new product introduction (NPI) capabilities the Company has built a three-dimensional industrial
collaboration model based on “local innovation + global delivery”. By fully exporting its underlying smart manufacturing capabilities
to overseas bases the Company has established a smooth transition mechanism from front-end innovation and pilot production to large-
scale overseas mass production. This ensures a high degree of consistency in production standards across countries and production
sites optimizes yield and efficiency and enables the Company to consistently provide stable high-quality delivery services to leading
customers amid complex international competition.
4. Environmental social and governance (ESG) system and advantages in green low-carbon and sustainable development
The Company has consistently regarded sustainable development as a core strategy. It actively practices green and low-carbon
philosophy steadily advances a rigorous carbon reduction pathway vigorously promotes the transition to clean energy and actively
carries out initiatives such as technological upgrades and the application of digital management platforms. As a result clean energy
now accounts for more than 60% of its energy use with annual electricity savings of approximately 160000 MWh. At the same time
the Company deeply integrates green concepts with frontier technologies continues to invest in technological upgrades and green
product R&D and actively explores the use of recyclable materials in its products. Through sustained efforts in green and low-carbon
development as at the end of the Reporting Period a total of 21 subsidiaries had been recognized as national- provincial- or municipal-
level green factories 14 had obtained UL 2799 Zero Waste to Landfill certification and six had passed certification under the Alliance
for Water Stewardship (AWS) international standard for sustainable water stewardship. Together these achievements have built an
efficient clean and circular manufacturing foundation that leads the world.The Company has also demonstrated outstanding global leadership in social responsibility and corporate governance. It has
strengthened its compliance and integrity safeguards and obtained ISO 37001 Anti-bribery management systems certification and ISO
27701 Privacy information management systems certification. The Company places great importance on talent development and
employee care has achieved full coverage of its occupational health and safety management system for all employees and provides
approximately 28 hours of training per employee on average. It also actively supports high-quality employment for employees with
disabilities. Together with approximately RMB20 million invested in public welfare charitable initiatives and rural revitalization
throughout the year the Company has translated ESG governance into a substantive business competitiveness that drives business
growth and wins strong recognition from top-tier international customers.
5. A multidimensional talent development system and the intrinsic drive of a strong corporate culture
The Company places great importance on employees’ career planning and firmly believes that talent is the core asset driving
technological innovation and sustainable development. Supported by a series of standardized systems including its Training
Management Measures the Company has established a refined talent management system covering the full employee life cycle.Through a combination of online and offline platforms it has developed a comprehensive tiered and categorized training matrix.Specifically the “Star-Making Series” stimulates the leadership potential of management teams at all levels and key high-potential
reserve talent. The “Energy-Gathering Series” continuously recharges talent in key areas such as manufacturing R&D and technology
marketing and supply chain management. The “Fusion Series” supports the implementation of key strategies and business
transformations at different stages. The Company has also made strong efforts to build the “Momentum-Building Series” creating
learning and exchange platforms such as “i School” “Star Classroom” and “Executive Forum” to foster an integrated learning
atmosphere and provide all employees with opportunities for knowledge empowerment and self-presentation. In addition the Company
actively carries out university-enterprise cooperation and assigns an exclusive mentor to each new campus recruit every year for
dedicated “one-on-one” guidance helping new talent quickly master professional skills and experience the warmth of the team.Built on solid employee care and a standardized talent development system the Company’s strong corporate culture has become itsmost resilient internal driving force. Over the years its core values of “Customer Success Relentless Mission Continuous InnovationUnited Journey and Self-driven Growth” have moved beyond slogans and become deeply embedded in the daily actions of every
Luxshare-ICT employee and in the Company’s corporate culture. To attract and retain top talent the Company has established a
scientific performance evaluation system and diversified incentive mechanisms providing outstanding employees and core talent with
competitive rewards including year-end bonuses project bonuses and equity incentives. This effective benefit-sharing mechanism
together with a warm cultural foundation fully motivates employees to push beyond their perceived limits and turns the Company’s
broad vision into concrete execution. As a result the Company is able to maintain a strong pipeline of high-caliber organizational talent
as it responds to a complex macro environment and advances toward high-quality development ultimately achieving a strategic win-
win between employees’ professional growth and the Company’s long-term development.IV. Analysis of Principal Business
1. Overview
17Luxshare Precision Industry Co. Ltd. 2025 Annual Report
In 2025 amid a complex global macro environment and a continuously evolving supply chain landscape as a leading global providerof precision intelligence manufacturing solutions we remained committed to our mission of “committed to advancing cutting-edgetechnology to fulfill the ambitions of our global partners”. Guided by our belief in serving as a “bridge” that leads client brands to
success we continued to provide in-depth empowerment and support to leading brands across fields worldwide.During the year the Company achieved strategic advancement in two key dimensions. First its global production capacity network
became increasingly mature. Building on its existing overseas production capacity in Vietnam and other markets and with the
successful completion of the acquisition and integration of LEONI Group in Germany the Company’s overseas manufacturing
footprint now fully covers Southeast Asia Europe North Africa the Americas and other regions. This enables the Company to
precisely meet customers’ urgent demand for both globalized and localized delivery under the new geopolitical normal. Second the
Company continued to deepen its vertical integration capabilities. Through the in-depth integration of its original design manufacturing
(ODM) original equipment manufacturing (OEM) and R&D teams we achieved seamless connectivity from original design and
fundamental process development to full life-cycle mass production and quality control. We have connected the entire chain from
precision components to modules and system integration. By deeply participating in the full process of customers’ product design
R&D production and after-sales services the Company has built highly flexible and resilient comprehensive competitiveness.Today the Company ranks fourth globally and first in the Chinese mainland in the field of precision smart manufacturing solutions
and has been listed in the Fortune Global 500 for three consecutive years. Leveraging its full-stack smart manufacturing platform with
broad coverage and a solid technology foundation the Company has established deep trusted partnerships with more than 100 Fortune
Global 500 companies. Its products are fully integrated into a wide range of everyday life and mobility scenarios for consumers around
the world. Globally on average one in every two smartphones one in every three smart wearables and one in every five smart vehicles
contains the Company’s products. During the Reporting Period all three of the Company’s core business segments maintained steady
development:
1. Consumer electronics business
In 2025 the comprehensive adoption of on-device AI drove profound changes in the consumer electronics industry. High-frequency
interactive devices such as AI smartphones AI personal computers (AI PCs) smart glasses and smartwatches together with the
thriving broader consumer electronics ecosystems covering smart homes offices and mobility placed more stringent requirements on
hardware miniaturization integration and underlying sensing technologies.Facing vast emerging markets the Company achieved further breakthroughs in the depth of vertical integration while realizing full-
scenario business coverage in consumer electronics. During the Reporting Period through the successful integration of its ODM
business and R&D teams the Company systematically strengthened its product design definition and fundamental R&D capabilities.Drawing on deep insights into system integration together with intensive research into innovative materials technologies and process
technologies the Company not only helped many global leading customers efficiently complete product design and development for
mass production but also accelerated the introduction of a large number of precision components and module products to both existingand new customers. In this process the Company fully implemented its business strategy of “deepening cooperation with existingcustomers on new products increasing its share of existing products with existing customers and breaking new ground with newproducts and new customers” significantly reinforcing the foundation of its consumer electronics business. Leveraging its strong
vertically integrated service capabilities the Company provides core customers and innovative brands with one-stop solutions covering
material selection product definition industrial design process development high-yield mass production and full life-cycle after-
sales services. This comprehensive ecosystem empowerment has not only enabled the Company to consolidate its advantages amid
intense competition and earn the trust of global leading brands but also helped many start-up brands remove barriers to product
commercialization. Supported by the agile responsiveness enabled by its global production footprint the Company continues to expand
the boundaries and competitive edge of its consumer electronics business.
2. Communications and data center business
The rapid development of artificial general intelligence (AGI) is driving a continued surge in global demand from intelligent computing
centers for infrastructure featuring high computing power high bandwidth and low latency. The Company focuses on core components
and full-system assembly for communications base stations and AI servers with business coverage across key areas including high-
speed electrical connectivity optical connectivity thermal management power management server systems and 4G/5G RF antennas.In line with the industry trend toward faster denser and larger-scale AI server racks the Company has built an integrated solution
covering the infrastructure foundation for AI computing power. This solution is anchored by three core systems: high-speed optical
and electrical interconnects power management and thermal management and is supported by two key solution dimensions: board-
level interconnects and full-rack interconnects.During the Reporting Period while deepening cooperation with leading domestic cloud service providers on complete server systems
and core components the Company focused on expanding overseas markets and achieved notable progress in business development
in North America. With its technological capabilities and quality assurance multiple core component products were recognized by
leading overseas cloud service providers and computing equipment manufacturers and several key products were successfully
delivered. In copper interconnects the Company provided core support for the implementation of high-speed interconnect standards
for the ETH-X supernode computing base. The Company’s proprietary 224G KOOLIO CPC/NPC solution 224G Intrepid NEXUS
backplane connector and Intrepid Cable Cartridge high-speed cable backplane solution have been commercialized in certain
mainstream AI clusters in China and overseas. In optical interconnects the Company took the lead in launching linear receive optics
(LRO) and linear-drive pluggable optics (LPO) modules based on the “Light Active” concept making progress in reducing
transmission power consumption and end-to-end latency. At present 800G/1.6T optical modules have entered small-batch supply
18Luxshare Precision Industry Co. Ltd. 2025 Annual Report
800G LRO has passed validation by certain customers and 1.6T LRO/LPO and XPO products are in advanced pre-research. In power
systems the Company has launched intelligent power systems such as Busbar Powershelf and Clip Cable as well as high-power
module power supplies deeply adapted to the Open Rack V3 (ORV3) power architecture. While remaining compatible with the current
mainstream 48V/12V ecosystem these products support the future transition to ±400V/800V high-voltage power distribution through
modular design. In thermal management the Company offers diversified liquid-cooling solutions including 120kW liquid-to-liquid
CDUs 10U liquid-to-air CDUs gravity-enhanced immersion oil-cooling cabinets and liquid-cooled I/O cages with 32W single-port
heat dissipation. These solutions meet high-density cooling requirements across different data center scenarios.Looking ahead the Company remains firmly committed to its “parallel advancement of optical and copper interconnect technologies”
strategy in the high-speed connectivity sector. Working closely with leading customers in China and around the world the Company
is driving forward-looking technological breakthroughs aimed at meeting the demanding requirements of next-generation 102.4T and
higher-bandwidth data centers. On the copper interconnect pre-research front the Company is accelerating the simulation design
testing and validation of its 448G copper interconnect product matrix. This includes 448G KOOLIO CPC and its supporting
Optamax high-speed bare wire which are designed to overcome high-frequency bottlenecks; 1.6T AEC/ACC for medium- and long-
distance transmission; and OSFP-XD PCIe 6.0 AEC solutions that empower the upgrade of disaggregated computing architectures.These core solutions have demonstrated strong potential in breaking through bandwidth and transmission distance limitations while
ensuring signal integrity under complex operating conditions. On the optical interconnect pre-research front the Company is deeply
involved in the formulation of next-generation interconnect standards and is directly addressing the challenges of ultra-high density
and thermal limits. It has taken the lead in launching a complete XPO ultra-high-density interconnect solution with single-module
bandwidth of 12.8Tbps (and a built-in liquid-cooling cold plate of up to 400W). On the R&D side the Company is accelerating the
implementation of 1.6T LRO/LPO and 3.2T near-packaged optics (NPO) technologies building a solid transition bridge before the full
commercialization of CPO. Together with its advanced pre-research capabilities in ±400V/800V high-voltage direct current power
systems and liquid-cooling solutions the Company is steadily building a multi-scenario one-stop interconnect ecosystem. Through a
robust model that seamlessly combines R&D leadership with mass production the Company continues to maintain an irreplaceable
core position in the computing infrastructure supply chain.In terms of communications infrastructure equipment the Company has successfully expanded its customer base to include major
global communications equipment manufacturers. Its 5G network equipment has continued to evolve toward 5G-A and achieved large-
scale delivery. At the same time the Company continued to expand its customer base in vertical communications markets completed
the development and pilot production of new projects and expects these projects to enter mass production ramp-up in 2026 and achieve
stable volume supply from 2027 to 2028. The Company also achieved breakthroughs in microwave backhaul products. In the emerging
business the Company advanced the full-process implementation of satellite communications terminals in 2025 from design to mass
production. It built a complete set of laboratories and full-system production workshops completed overall design and process
optimization and expects to achieve volume delivery in 2026.
3. Automotive business
Riding the wave of intelligence and electrification in the global automotive industry the Company is steadily advancing toward its
goal of becoming a “world-leading global Tier 1 supplier”. In terms of its internally developed product portfolio the Company has
achieved broad adoption of its core products across multiple automotive brands including vehicle wiring harnesses high-voltage low-
voltage and high-speed connectors smart cockpit solutions and advanced driver assistance systems (ADAS). At the same time the
Company remains committed to forward-looking development of fundamental technologies. Building on the leadership of its
proprietary high-speed and low-voltage connectors it is accelerating the mass production and application of advanced core components
for intelligent driving and chassis systems including intelligent chassis domain controllers and rear-wheel steering control units. These
efforts continue to strengthen the Company’s comprehensive portfolio of core automotive components.In terms of external expansion in 2025 the Company officially completed the closing and comprehensive integration of LEONI AG
a century-old German automotive components leader. This cross-border restructuring has delivered four key strategic benefits to the
Company’s automotive business.First it has empowered manufacturing reduced costs and improved efficiency. The Company has brought its deep expertise in
precision manufacturing and experience in digital management to LEONI AG reshaping its production processes and significantly
improving the overall operating efficiency of its global plants.Second it has enabled the Company to leverage existing capacity and support customers’ global expansion. By drawing on Leoni’s
well-established global production network the Company has substantially reduced the time cost and uncertainty associated with
building overseas plants. As Chinese automakers accelerate their expansion into global markets this extensive localized production
capacity matrix enables the Company to respond quickly to local automakers and provide an efficient nearby supply of core components.Third it has created stronger supply chain and procurement synergies. As a leading Tier 1 supplier of automotive wiring harnesses
LEONI AG brings substantial purchasing volume for basic materials. Following the integration these economies of scale in
procurement have in turn empowered the Company materially enhancing the market competitiveness of its automotive business.Fourth it has comprehensively broadened the Company’s customer matrix. The integration of LEONI Group has fully opened up a
deep channel for the Company to directly access the core supply chains of leading overseas automakers in Europe the Americas Japan
South Korea and other markets. This has not only strongly boosted the share growth of Luxshare’s existing product lines but also acted
as a catalyst to accelerate the full-scale introduction of multiple high-value-added product categories including smart cockpit solutions
and intelligent driving domain controllers. It has truly achieved deep two-way empowerment between the Company’s core technology
ecosystem and global customer network.
19Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Revenue and cost
(1) Breakdown of operating revenue
Unit: RMB
20252024
As % of As % of
YoY
operating operating change
Amount Amount
revenue revenue
(%)(%)
Total operating revenue 332344443143.39 100% 268794737612.58 100% 23.64%
By industry
Consumer electronics 264265914303.66 79.52% 233096019919.78 86.72% 13.37%
Automotive electronics 39255371878.90 11.81% 13757628639.98 5.12% 185.34%
Communications and data
24567610128.227.39%18359940363.706.83%33.81%
centers
Others 4255546832.61 1.28% 3581148689.12 1.33% 18.83%
By product
Consumer electronics 264265914303.66 79.52% 233096019919.78 86.72% 13.37%
Automotive electronics 39255371878.90 11.81% 13757628639.98 5.12% 185.34%
Communications and data
24567610128.227.39%18359940363.706.83%33.81%
centers
Others 4255546832.61 1.28% 3581148689.12 1.33% 18.83%
By region
Domestic sales 49135669865.72 14.78% 33327752492.71 12.40% 47.43%
Export sales 283208773277.67 85.22% 235466985119.87 87.60% 20.28%
By sales model
Direct sales 332344443143.39 100.00% 268794737612.58 100.00% 23.64%
(2) Industries products regions and sales models accounting for more than 10% of the Company’s operating revenue or
operating profit
□Applicable □ Not applicable
20Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Unit: RMB
Change in Change in
operating Change in gross
revenue operating margin
from the cost from from the
Gross
Operating revenue Operating cost same the same same
margin
period of period of period of
the the previous the
previous year previous
year year
By industry
Consumer
264265914303.66236153149062.7210.64%13.37%11.91%1.16%
electronics
Automotive
39255371878.9033072039295.8015.75%185.34%186.51%-0.35%
electronics
Communications
24567610128.2220046698308.4218.40%33.81%30.60%2.00%
and data centers
By product
Consumer
264265914303.66236153149062.7210.64%13.37%11.91%1.16%
electronics
Automotive
39255371878.9033072039295.8015.75%185.34%186.51%-0.35%
electronics
Communications
24567610128.2220046698308.4218.40%33.81%30.60%2.00%
and data centers
By region
Domestic sales 49135669865.72 40616163593.35 17.34% 47.43% 44.74% 1.54%
Export sales 283208773277.67 252139747383.36 10.97% 20.28% 18.52% 1.32%
By sales model
Direct sales 332344443143.39 292755910976.71 11.91% 23.64% 21.57% 1.50%
Where the statistical basis for the Company’s principal business data changed during the Reporting Period the principal business data
for the most recent year is presented based on the adjusted basis as at the end of the Reporting Period.□ Applicable □Not applicable
(3) Whether the Company’s revenue from physical product sales exceeded its revenue from services
□Yes □ No
21Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Industry Item Unit 2025 2024 YoY change
Sales volume KPCS 7568974 7382485 2.53%
Output KPCS 8071374 7900088 2.17%
Consumer
electronics
Inventory KPCS 502399 517602 -2.94%
Sales volume KPCS 586496 302174 94.09%
Output KPCS 621118 329753 88.36%
Automotive
electronics
Inventory KPCS 34621 27579 25.53%
Sales volume KPCS 537515 446162 20.48%
Output KPCS 563171 468716 20.15%
Communications
and data centers
Inventory KPCS 25656 22554 13.75%
Sales volume KPCS 393825 394252 -0.11%
Output KPCS 426644 423508 0.74%
Others
Inventory KPCS 32819 29256 12.18%
Explanation of YoY changes of more than 30% in relevant data
□Applicable □ Not applicable
1. Revenue from automotive electronics increased by 185.34% year on year mainly due to the rapid growth of the Company’s own
business and the inclusion of LEONI in the scope of consolidation.
2. Revenue from domestic sales increased by 47.43% year on year mainly due to the growth of the Company’s own business and the
inclusion of Luxshare Communications’ ODM business in the scope of consolidation.
3. Revenue from communications and data centers increased by 33.81% year on year mainly due to the growth of the Company’s own
business.
(4) Performance of major sales contracts and major procurement contracts signed by the Company as at the end of the
Reporting Period
□ Applicable □Not applicable
(5) Breakdown of operating costs
Industry
Industry
22Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Unit: RMB
20252024
YoY
Industry Item As % of As % of change
Amount operating Amount operating
costs costs
Consumer Cost of
236153149062.7280.67%211012027504.0487.63%11.91%
electronics goods sold
Automotive Cost of
33072039295.8011.30%11543083690.424.79%186.51%
electronics goods sold
Communicati
Cost of
ons and data 20046698308.42 6.85% 15349226245.83 6.37% 30.60%
goods sold
centers
Cost of
Others 3484024309.77 1.19% 2905080540.30 1.21% 19.93%
goods sold
NoteDuring the Reporting Period the Company merged the categories previously classified as “Computer interconnection products andprecision components” and “Consumer electronics” into “Consumer electronics”.
(6) Whether the scope of consolidation changed during the Reporting Period
□Yes □ No
For details see “IX. Changes in the Scope of Consolidation” under “VII. Notes to the Items of the Consolidated Financial Statements”
in “Section VIII Financial Report”.
(7) Whether there were any material changes or adjustments to the Company’s business products or services during the
Reporting Period
□ Applicable □Not applicable
(8) Major customers and suppliers
Major customers of the Company
Total sales to the top five customers (RMB) 216170690497.41
Total sales to the top five customers as a percentage of total
65.04%
annual sales
Sales to related parties among the top five customers as a
0.00%
percentage of total annual sales
Details of the Company’s top five customers
No. Customer Sales amount (RMB) As % of total annual sales
1 Customer 1 188381234900.29 56.68%
2 Customer 2 9495826695.76 2.86%
3 Customer 3 7078194076.51 2.13%
23Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4 Customer 4 5758935531.44 1.73%
5 Customer 5 5456499293.41 1.64%
Total -- 216170690497.41 65.04%
Other information about major customers:
□ Applicable □Not applicable
Major suppliers of the Company
Total purchases from the top five suppliers (RMB) 132000748088.50
Total purchases from the top five suppliers as a percentage of total annual
52.97%
purchases
Purchases from related parties among the top five suppliers as a percentage
0.00%
of total annual purchases
Details of the Company’s top five suppliers
As % of total annual
No. Supplier Purchase amount (RMB)
purchases
1 Supplier 1 113854244197.17 45.69%
2 Supplier 2 9368704169.84 3.76%
3 Supplier 3 3270620316.83 1.31%
4 Supplier 4 2960792598.39 1.19%
5 Supplier 5 2546386806.27 1.02%
Total -- 132000748088.50 52.97%
Other information about major suppliers:
□ Applicable □Not applicable
Whether the Company’s revenue from the trading business accounted for more than 10% of operating revenue during the Reporting
Period
□ Applicable □Not applicable
3. Expenses
Unit: RMB
2025 2024 YoY change Explanation of material changes
Mainly due to increases in personnel and
Selling expenses 2333996973.49 1059676776.41 120.26% compensation and benefits as well as an
expanded scope of consolidation.Administrative
10195494233.32 6352284566.88 60.50% Mainly due to increases in personnel and
expenses compensation and benefits as well as an
24Luxshare Precision Industry Co. Ltd. 2025 Annual Report
expanded scope of consolidation.Mainly due to increases in interest
Financial expenses 1087936612.78 -503176648.23 316.21% expenditures and foreign exchange gains
and losses.Mainly due to an increase in R&D
R&D expenses 11428041090.59 8555957431.46 33.57% projects higher R&D expenses and the
expanded scope of consolidation.
4. R&D expenses
□Applicable □ Not applicable
Expected impact on the
R&D project Project purpose Project progress Target(s) to be achieved future development of the
Company
By integrating the heart
rate monitoring function
with earphone products
the project enables real-
time collection and
monitoring of users’
physiological data in The project products have
scenarios such as audio passed rigorous customer
listening calls and 1. To realize the heart rate testing have been put into
exercise. The sensing function with the application and have
R&D of Earphones The project has
implementation of this smallest possible module received unanimous
with Heart Rate entered the mass
project will help enhance size; positive feedback from
Sensing Function production stage.the intelligence and health 2. To control costs while customers laying a
management features of ensuring production yield. technical and market
earphone products meet foundation for subsequent
users’ needs for market promotion.convenient continuous
and non-invasive health
monitoring and
strengthen the market
competitiveness of the
products.With the rapid
development of
technology TWS
earphones have become an
indispensable part of Heart rate monitoring:
people’s daily lives. As PPG sensors can monitor
wearable devices TWS The project products have heart rate in real time
earphones are evolving been successfully put into which is highly useful for
beyond their familiar basic production. Their product sports training health
Research on PPG functions toward deeper
quality has been
The project has management and other
lifestyle integration as recognized by the market Earphones Based on entered the R&D scenarios.a New Optical reflected in technology
and they have received
validation and
Sensor integration ecosystem testing stage. Blood oxygen saturation
unanimous positive
collaboration and (SpO?) measurement: PPG feedback from customers
functional expansion. The sensors combining red laying a technical and
integration of health light and infrared light can market foundation for
monitoring functions into estimate oxygen saturation further market expansion.TWS earphones has in the blood.become an industry trend.Through sensor and
algorithm innovation
earphones are being
expanded from audio
25Luxshare Precision Industry Co. Ltd. 2025 Annual Report
devices into tools for
collecting personal health
data. Health monitoring
functions mainly rely on
optical sensors namely
photoplethysmography
(PPG) and multimodal
sensor fusion. Therefore
adding health monitoring
functions including heart
rate monitoring blood
oxygen detection and
blood pressure detection
to the TWS earphone
design has become an
important research topic
for addressing the above
technical challenges.This project aims to make 1. Intellectual property:
forward-looking R&D The project is expected to
arrangements for the key result in one to two patent
technologies of next- applications and establish
generation high-density protection for the
high-speed data Company’s proprietary
transmission cables and intellectual property
connectors with the rights.With the rapid following objectives: to
development of overcome core technical 2. Technical
technologies such as 5G challenges in ensuring achievements: The project
communications AI signal integrity reducing is expected to produce the
ultra-high-definition transmission loss and Design Guidelines for
video and cloud suppressing High-Density High-Speed
computing global data electromagnetic Connectors the Process
volume is growing interference at speeds of 40 Specifications for High-
explosively. The Gbps and above; to Speed Cables as well as a
requirements for data develop capabilities in the verified simulation model
transmission speed and design simulation and library and a set of design
bandwidth in fields such precision manufacturing of rules.Research on Key as data centers high- high-density connectors; to
Technologies for performance computing provide a full set of 3. Product achievements:
The project has
High-Density High- and intelligent driving technical solutions and The project is expected to
entered the R&D
Speed Data continue to increase. prototype samples for the deliver high-density high-
validation and
Transmission Protocol standards such as development of high-speed speed connector
testing stage.Cables and USB4 and Thunderbolt 4 cables connectors and prototypes and
Connectors have raised the modules that comply with corresponding cable
transmission rate of a USB4 Thunderbolt 4 and samples that meet the
single cable to 40 Gbps future upgraded standards target performance
and are expected to move thereby breaking foreign requirements.toward 80 Gbps or even technological monopolies;
higher in the future. and to enhance the 4. Industrialization
Against this backdrop Company’s core achievements: The project
performance bottlenecks technological is expected to support the
in cables and connectors competitiveness in this establishment of a high-
as the physical channels field build up technical speed signal testing
for data transmission have reserves lay a solid platform and strengthen
become increasingly technical foundation for the Company’s internal
prominent. the upgrading and high-frequency testing and
transformation of the analysis capabilities.Company’s existing 5. Economic and social
production lines and the benefits: The research
future industrialization of results will be directly
high-end products and applied to the Company’s
help the Company secure a subsequent product
leading technological development and are
position in the industry. expected to enable the
26Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Company’s high-end
products to reach a
domestically leading level
in performance providing
key technical support for
expanding into markets
such as data centers and
high-end consumer
electronics.With the rapid
development of large AI
models demand for
computing power has
grown explosively while
current mainstream
approaches to computing
capacity expansion are
struggling to meet such
demand. On the one hand
increasing computing
power by purchasing
higher-performance chips
is costly and constrained
by the evolution of process
technologies. On the other As an assembly housing
hand expanding cluster for cables inside ultra-
size through scale-out large-scale AI intelligent
alone creates challenges computing cluster
such as network cabinets the stainless steel
bandwidth pressure and cable box for AI cabinets As an important
increased management provides stable reliable component of cable
complexity. Against this and safe interconnection assembly for AI cabinets
backdrop the ETH-X support for the entire the product supports the
Project Proposal for supernode project was cabinet through high- optimization of cabinet
the R&D of a developed under the The project has precision dimensional hardware design and helps
Stainless Steel leadership of the Open entered the mass tolerance control. fully unlock the
Cable Box for AI Data Center Committee production stage. computing potential of
Cabinets (ODCC) with the China A reasonable reliability existing GPUs thereby
Academy of Information testing plan has been contributing to the
and Communications developed under which exploration of new paths
Technology (CAICT) and product stability and to overcoming bottlenecks
Tencent taking the lead in reliability are verified in AI computing power.the design together with through tests such as push
more than 30 industry force testing and torque
academic and research testing as well as film
institutions including thickness testing and
Huaqin Technology and go/no-go gauge testing.Luxshare-Tech. By
optimizing cabinet
hardware design and fully
unlocking the computing
potential of existing
GPUs the project aims to
explore a new path to
overcome bottlenecks in
AI computing power. The
structural component of a
stainless steel cable box is
an important part of the
cable assembly for this
project and plays a
significant role.
27Luxshare Precision Industry Co. Ltd. 2025 Annual Report
By applying the
TLE4999C magnetic
sensor the project aims to The project aims to secure The project will help meet
R&D of the MMA The project has
improve the angle additional customers and the requirements of
NEV Steering entered the mass
measurement accuracy of vehicle models on the basis intelligent driving for
System production stage.the steering system of steady mass production. precise vehicle control.thereby ensuring more
precise steering control.The project aims to
R&D of a Full- With the widespread
develop a full-scenario
Scenario Advanced adoption of AI the
advanced intelligent The project aims to secure
Intelligent Parking The project has application scenarios for
parking smart cockpit for additional customers and
Smart Cockpit entered the mass intelligent parking will
parking scenarios in vehicle models on the basis
Based on the production stage. continue to increase
response to the demand for of steady mass production.Qualcomm 8295 broadening the market for
intelligent vehicle
Chip the Company.parking.R&D of an In-
The project is expected to
Vehicle Ethernet The project aims to The project has The project aims to secure
help fill the gap in
Connector support interconnection entered the R&D additional customers and
domestic standards for in-
Compliant with for mobile data centers in validation and vehicle models on the basis
vehicle Ethernet
Chinese National autonomous vehicles. testing stage. of steady mass production.connectors.Standards
China’s wind turbine As an industrialized
manufacturing accounts product the offshore wind
for 65% of the global power magnet module
market. Through the joint represents an expansion
development of offshore by Luxshare Xuancheng
wind power generator The project successfully beyond the automotive
R&D of Magnet magnet modules with The project has completed its first batch of industry. In the future the
Assemblies for Siemens this project entered the R&D deliveries before the Company is expected to
Wind Power enables the Company to validation and Spring Festival and is have more cooperation
Generator Stators enter the wind power testing stage. expected to enter mass opportunities with
sector. By innovating production in 2026. Siemens and other well-
automated assembly known domestic wind
processes the project aims power manufacturers
to expand the market with thereby broadening its
high-standard low-cost business scope for future
products. development.Leveraging its mass
production experience in
Through this project the mobile-end and cloud-end
Company aims to digital key solutions the
independently develop a Company is well-
BLE positioning positioned to win more
The project aims to enter
R&D of the Entry algorithm improve BLE similar projects. The
mass production in Q3
and Driving positioning accuracy and The project has implementation of the
2026 integrate mobile-end
Authorization user experience and reach entered the R&D BLE positioning
and cloud-end
System Based on an industry-leading level. validation and experience together with
development solutions
Bluetooth Low The Company also aims to testing stage. the application for
and enhance product
Energy (BLE) apply for multiple multiple invention patents
competitiveness.invention patents and will help further expand
strengthen the technical and strengthen the
competitiveness of the functions of the digital key
product line. product line and reinforce
the Company’s technical
competitiveness.
28Luxshare Precision Industry Co. Ltd. 2025 Annual Report
This project aims to
conduct multi-physics
coupled modeling and
In terms of application
simulation of the
prospects the rear-wheel
mechanical electrical and
steering system market is
magnetic fields of the rear-
expected to maintain a
wheel steering motor
The project aims to high compound annual
develop fault-oriented safe
complete product growth rate (CAGR) in the
R&D of the ARS5 motor fault-tolerance The project has
verification establish mass coming years. In
Rear-Wheel technology and hardware entered the R&D
production capabilities particular in Asian and
Steering Control and software systems for validation and
and meet the requirements European markets the
Unit – PPK torque ripple suppression testing stage.for introduction into adoption rate of rear-
improve driving safety
customers’ vehicle models. wheel steering systems is
quantify subjective and
expected to continue
objective steering
rising as consumer
evaluation indicators
demand for ADAS
improve the steering
increases.control evaluation system
and enhance driving and
riding comfort.As demand for fast
charging in NEVs
After mass production the
continues to increase
The project aims to project is expected to
large cables have become
complete product support the promotion of
R&D of a High- difficult to route. Many The project has
verification establish mass aluminum busbar
Voltage High- OEMs have begun entered the R&D
production capabilities connection solutions and
Current Aluminum promoting aluminum validation and
and meet the requirements help the Company expand
Busbar Connector busbars which offer larger testing stage.for introduction into its market presence in
cross-sections and more
customers’ vehicle models. aluminum busbar
flexible layout options as
connections.replacements for
conventional wires.The project aims to
support breakthroughs in
domestic lithography The project is expected to
machines address enhance customer
R&D of Power
technical bottlenecks in The project has The project aims to provide recognition of the
Busbars for Main
individual components entered the R&D a stable supply of Company’s R&D and
Control Boards in
promote the localization of validation and components for domestic manufacturing capabilities
Lithography
key components and testing stage. lithography machines. for high-end products and
Machines
enhance the strategic improve the Company’s
security of an independent brand image.and controllable
semiconductor industry.As a major sensing
technology mmWave
radar plays an important As the penetration rate of
role in automotive safety The project aims to achieve intelligent driving
systems. It can improve stable mass delivery for increases and scaled
The project has
R&D of Automotive driving safety support customers’ vehicle models production advances
entered the mass
mmWave Radar multi-scenario assisted and secure additional market demand for
production stage.driving functions enable customers and vehicle mmWave radar is
in-cabin safety models. expected to continue
monitoring reduce growing.development costs and
increase adoption.R&D of CCS The project aims to The project aims to Within two years after the
The project has
Integrated Busbars develop and industrialize develop CCS products project is put into
entered the design
Using UV Film Hot- CCS products based on the using UV film hot-pressing production the Company
and development
Pressing UV film hot-pressing technology that feature is expected to achieve a
29Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology process meet the urgent stage. proprietary intellectual market share of 30%
downstream demand for property rights stable
high-performance low- performance and and become one of the
cost CCS products controllable costs achieve leading domestic suppliers
enhance the Company’s scaled production and of UV film CCS products.core competitiveness in support their adoption by
the new energy industry mainstream NEV and
chain and promote energy storage battery
technological progress in supply chains.the industry.The project has The project is expected to
5G+LTE Tri-Band
The project is intended for entered the new The project is intended for support product upgrades
Remote Radio Unit
new product development product new product development expand the market and
for Digital Fiber-
and iteration. development and and iteration. enhance market
Optic Repeaters
iteration stage. competitiveness.The project has The project is expected to
Portable High-
The project is intended for entered the new The project is intended for support product upgrades
Performance Dual-
new product development product new product development expand the market and
Mode Laptop-Style
and iteration. development and and iteration. enhance market
Cloud Terminal
iteration stage. competitiveness.The project aims to The project is expected to
The project has
complete the transition to support product upgrades
OmniX to OSFP The project aims to meet entered small-
mass production in Q3 expand the market and
Technology Project customer needs. batch trial
2026 and achieve batch enhance market
production.delivery to customers. competitiveness.Product development was
completed in Q4 2025
The project aims to meet The project is expected to
The project has with performance reaching
R&D of FP801- the data center business support product upgrades
entered small- an industry-leading level.
800G OSFP 2xFR4 growth needs of a well- expand the market and
batch trial The product is expected to
Optical Modules known overseas cloud enhance market
production. transition to mass
service provider. competitiveness.production and generate
sales revenue in 2026.The project is designed to
meet customers’ demand The project is expected to
OSFP224 2X1 for 224G full-rack AI The project has The project aims to support product upgrades
High-Speed systems entered the R&D complete the transition to expand the market and
External Optical validation and mass production in Q3
enhance market
Port Connector and support the testing stage. 2026.development of the TH6 competitiveness.project.The project aims to The project is expected to
The project has
APEX VH High- The project aims to meet complete the transition to support product upgrades
entered small-
Speed Backplane customers’ demand for mass production in Q3 expand the market and
batch trial
Connector Project full-rack AI systems. 2026 and achieve batch enhance market
production.delivery to customers. competitiveness.The project aims to The project is expected to
Development of The project has
The project aims to meet complete the transition to support product upgrades
Intrepid APEX VR entered small-
customers’ demand for mass production in Q3 expand the market and
Cable Backplane batch trial
full-rack AI systems. 2026 and achieve batch enhance market
Connector Modules production.delivery to customers. competitiveness.Development of 33 The project is designed to The project has Product development was The project is expected to
kW High-Power- support rack-level power entered the completed in Q4 2025 and support product upgrades
Density Rack- supply requirements for sample the product is expected to expand the market and
Mounted Power AI servers and help the submission and gradually generate revenue enhance market
30Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Supplies Company expand its share certification in 2026. competitiveness.of the AI server power stage.supply market.Preliminary product
verification was completed The project is expected to
The project has
R&D of DPA03- The project aims to meet in Q4 2025. Product support product upgrades
entered the R&D
1.6T OSFP DR/FR emerging market demand maturation is expected to expand the market and
validation and
Optical Modules for 1.6T optical modules. be completed in 2026 with enhance market
testing stage.revenue to be generated competitiveness.gradually.The mating interface uses
a cable-orthogonal
configuration with the
rear eight switch nodes
The project is expected to
inserted vertically and the The project has
promote the continued
front 16 GPU nodes entered the
OmniClip 224G Mass production is development of the
inserted horizontally. sample
High-Speed Chip- scheduled for Q3 and Q4 Company’s backplane
Within each node a submission and
End NPC Connector 2026. module business
CHIP2BP orthogonal certification
including Cable Tray
solution is adopted and a stage.products.single rack supports 128
GPU cards through two
groups arranged in the
upper and lower sections.NearStack 2.0 will be The project has
applied to an 18G project entered the
Mass production is The project is expected to
NearStack 2.0 Plug for an overseas customer sample
scheduled for Q4 2026 and support steady operating
Cable Connector with the Company submission and
Q1 2027. revenue growth.supporting the customer in certification
R&D. stage.
1. The project aims to 1. The project aims to
achieve a 9.95 mm low- achieve a 9.95 mm low-
profile design compared profile design compared
with the industry’s typical with the industry’s typical
11.95 mm and enhance 11.95 mm and enhance the
the product’s global product’s global
competitiveness. competitiveness.
2. It also addresses the low 2. It also addresses the low
yield of printed circuit yield of printed circuit
board (PCB)-based board (PCB)-based
MCIO 8X RA solutions using PP wires The project has solutions using PP wires
Paddleless Cable by adopting a paddleless entered the R&D by adopting a paddleless
The project is expected to
Connector tin-free resistance welding tin-free resistance welding support steady operating validation and
Development process to improve SI process to improve SI revenue growth. testing stage.Project performance. performance.
3. The project will first 3. The project will first
meet Lenovo’s meet Lenovo’s
requirements and then requirements and then
support global rollout. support global rollout.
4. It also enables future 4. It also enables future
extension of MCIO RA extension of MCIO RA
applications to MTK RA applications to MTK RA
8X 16X 16X COMBO 8X 16X 16X COMBO
and other applications. and other applications.Development of The project aims to Samples have The project is expected to
The project aims to
ASMlink Blind- support AI server been certified support product upgrades
complete the mass
Mate High-Speed applications including and the project expand the market and
31Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Connector Modules blind-mate connections has entered the production ramp-up. enhance market
for Malta motherboards mass production competitiveness.midplanes and front stage.modules.The project aims to
The project has
expand the Company’s Product development was The project is expected to
Development entered the
external PCIe completed in Q1 2026 and support product upgrades
Project for CDFP sample
interconnection interfaces the product is expected to expand the market and
External High- submission and
and strengthen its portfolio gradually generate revenue enhance market
Speed Cables certification
of interconnection in Q2-Q4 2026. competitiveness.stage.solutions.The project aims to The project is expected to
Development of The project is designed to The project has
complete the transition to drive operating revenue
Nexus XH meet market demand for entered the R&D
mass production in Q2 growth from new products
Backplane 224G full-rack AI validation and
2026 and achieve batch and support broader
Connector Modules systems. testing stage.delivery to customers. customer adoption.By building a dedicated
testing platform with the
CPC high-speed BER
tester the Company can
more accurately simulate
The project aims to bring
real-world operating
Luxshare’s proprietary
The project has completed conditions and conduct
112G KOOLIO CPC full- Prototype
research into the practical comprehensive testing of
link technical solution into debugging has
application of CPC key indicators such as
CPC High-Speed practical application and been completed
technology and has cable BER and
Bit Error Rate Tester develop high- and bit error rate
resulted in the transmission speed. This
performance high-speed (BER) testing is
development of a CPC will help ensure the
bit error rate testing now available.high-speed BER tester. stability and reliability of
equipment based on CPC
overall product operation
technology.while supporting iterative
upgrades of related
technologies and the high-
quality development of the
industry.The project aims to
R&D of Ultra-Thin develop an efficient ultra- The project has The project aims to address
The project is expected to
Liquid Cooling thin liquid cooling entered small- heat dissipation issues in
support steady operating
Plates for Optical solution for next- batch trial next-generation high-
revenue growth.Modules generation high-speed production. speed optical modules.optical modules.The project aims to
The project aims to significantly improve
R&D of Liquid develop a liquid cooling The project has cooling efficiency and
The project is expected to
Cooling Technology solution that enables entered small- temperature uniformity
support steady operating
for Stacked Optical uniform heat dissipation batch trial through optimized flow-
revenue growth.Modules across multiple stacked production. channel design and
optical modules. differentiated structural
design.In response to the power
The project aims to
R&D of High- consumption trends of
develop a more efficient
Efficiency Liquid The project has PCIe expansion cards in AI
cooling solution for PCIe The project is expected to
Cooling entered small- computing data centers
graphics cards thereby support steady operating
Components for batch trial high-performance
improving the
Low-Profile PCIe production. communications and other
revenue growth.performance and service
Graphics Cards fields as well as the urgent
life of PCIe cards. need for efficient heat
dissipation within limited
32Luxshare Precision Industry Co. Ltd. 2025 Annual Report
chassis space due to the
specific dimensions of
PCIe cards and the multi-
point layout of heat-
generating components
the project aims to develop
a combined cooling
solution using low-profile
PCIe graphics card cold
plates and heat pipes.The project aims to
develop a next-generation
liquid-cooled I/O cold
plate system that
significantly reduces
contact thermal resistance
supports heat dissipation of
R&D of a New The project aims to up to 32 W per I/O
The project has
Optical Module develop a new optical interface and works The project is expected to
entered small-
Cold Plate with a module cooling cold plate efficiently with ASIC cold support steady operating
batch trial
Compliant Floating with a compliant floating plates to provide revenue growth.production.Mechanism mechanism. comprehensive liquid
cooling coverage for high-
bandwidth switches. It will
provide a complete
solution for the high-power
cooling needs of switches
with different
architectures.Breakthroughs in 3D
printing technology for
titanium alloy watch cases
are driving precision
manufacturing in
consumer electronics into
The project aims to focus
a new cycle of near-net-
on four key areas
Integrated Process The project is designed to shape forming and
including precision
Development for integrate and upgrade the customization. Combined
The project has performance mass
3D-Printed manufacturing process with mass production
entered the mass production readiness cost
Titanium Alloy thereby improving product practices among leading
production stage. efficiency and market
Watch Cases Using forming accuracy and companies and the trend of
compliance with an
Material Fusion production efficiency. declining industry costsemphasis on “3D printingthis technology is+ post-processing”.expected to reshape the
Company’s development
in terms of technical
barriers profit structure
market reach and position
in the industry chain.In the 3C industry the The project has The development of 3C-
core purpose of additive received funding specific powders is central
manufacturing is to from Yancheng’s The project aims to to the Company’s strategy
R&D of Key achieve precision industrial develop a rare-earth-free of building technical
Technologies for manufacturing and rapid technology additive manufacturing barriers in high-end
Preparing and iteration of complex innovation powder specifically for 3C surface treatment. By
Applying High- structures while also support program applications introduce it to precisely controllingStrength Aluminum advancing lightweight and under the “open customers and the market powder particle sizeAlloy Powders for functionally integrated competition” and achieve mass purity and morphology
3D Printing designs. It can directly mechanism. The production. the Company can
produce customized Company has also significantly improve the
components that are verified anodizing performance of
difficult to achieve anodizable 3D-printed products
33Luxshare Precision Industry Co. Ltd. 2025 Annual Report
through traditional powder directly enhancing the
processes such as mobile formulations with user experience of
phone mid-frames with strong market smartphones foldable
heat dissipation structures performance and devices and smart
or lightweight brackets conducted reverse wearables. Replacing
significantly shortening development. imported powders with
the R&D cycle and Preliminary domestic alternatives can
making it well-suited to verification of reduce supply chain costs
the rapid iteration needs of low-rare-earth by more than 30%
3C products. and rare-earth- mitigate bottleneck risks
free solutions has and support China’s push
been completed. for greater independence
in new materials.Developing proprietary
powder systems will also
better support the
Company’s customized
functional film designs
and help capture growth
opportunities in the high-
end 3C market.As technology continues
to advance endoscopes
are being used in an
expanding range of
diagnostic and treatment
1. To address the issue of procedures across more
water ingress in traditional clinical departments
1. To complete the endoscope cable which is expected to
structural design of connectors. further increase demand in
endoscope cable plugs; the medical endoscope
2. To address the issue of market. Medical
R&D of Medical
2. To develop a waterproof The project has traditional endoscope endoscope cable
Waterproof
design for the plugs; entered the mass cables opening after high- assemblies are important
Endoscope Cable
production stage. temperature sterilization. components that connect
Assemblies 3. To complete the design the endoscope host to the
of the endoscope cable and 3. To address the issue of endoscope handle and
silicone strain-relief (SR) poor bonding between transmit images.components. endoscope cable Improved sterility and
connectors and silicone SR waterproof performance
components. can enhance the
performance and service
life of endoscope
equipment giving the
product broad market
prospects.
1. Selection of ferrite core Demand in the medical
materials and protection of 1. To develop injection- device market continues to
ferrite cores (to select molded protection for grow electromagnetic
suitable ferrite core ferrite cores and an compatibility
materials and design injection-molding process requirements are
protective structures for for ferrite-core cables; becoming more stringent
the ferrite cores); and medical operating R&D of Integrated
The project has 2. To achieve an integrated environments are placing
Medical Power 2. Integrated structural entered the mass design of the ferrite core higher requirements on
Cable Assemblies design of the ferrite core production stage. and power cable to reduce power cables. The project
with Ferrite Cores and cable (exploring how size and weight; can effectively suppress
to connect the ferrite core electromagnetic
and cable into a compact 3. To optimize the interference facilitate
integrated structure); electrical and mechanical storage and cable
performance of the cable management improve
3. Electrical safety (the assembly. safety and reliability and
materials processes and enhance the professional
structural design must image of hospitals giving
34Luxshare Precision Industry Co. Ltd. 2025 Annual Report
meet electrical safety the product strong market
requirements). prospects.
1. To address cabling
difficulties faced by
traditional optical cable
1. To complete the
assemblies in high-density
structural design of high-
environments and ensure The project is expected to
density optical cable
proper routing of 1152- provide greater flexibility
assemblies to enable
fiber optical cables within for product capacity
1152-fiber high-density
a 2RU space; expansion and
cabling within a 2RU maintenance. By reducing
space; 2. To address insertion and the overall size by
extraction force and approximately 40% it
2. To complete the design
R&D of 1152-Fiber connection stability issues optimizes cabling space
of MPO12 APC M-keyup The project has
2U High-Density of MPO12 connectors in while maintaining
push-pull connectors to entered the mass
Optical Cable high-density excellent signal
ensure reliable production stage.Assemblies environments thereby transmission quality. It
connections in high-
ensuring reliable will also significantly
density environments;
connections; improve cabling flexibility
3. To complete the design and reliability enhance
3. To address mechanical
of the Trunk PVC jacket to operation and
and transmission
ensure mechanical and maintenance efficiency
performance issues in
transmission performance and make the product
long-distance
over a 100-meter cable more competitive.transmission thereby
length.ensuring stable
transmission over a 100-
meter cable length.
1. To complete the
structural design of 4SN
multi-core high-density
optical cable assemblies 1. To integrate more fiber
integrating more fiber cores within the limited
cores into a single space of an optical cable
assembly to increase fiber assembly while
density and meet the needs maintaining reasonable The project addresses the
of high-density fiber spacing and arrangement limitations of traditional
cabling; between fibers; optical fiber assemblies in
core density insertion and
2. To develop a more 2. To improve the
R&D of 4SN Multi- extraction efficiency and
efficient insertion and The project has durability of optical fiber
Core High-Density fiber management. It
extraction mechanism to entered the mass connectors thereby
Optical Cable provides a solution with
reduce operating difficulty production stage. supporting frequent
Assemblies higher integration easier
and time costs while insertion and extraction
operation and more
improving system without affecting
efficient management
flexibility and performance;
making the product more
maintainability;
3. To improve fiber competitive in the market.
3. To optimize the fiber fixation and management
management structure thereby preventing signal
thereby reducing signal loss caused by bending or
interference and bending stretching during use.loss between fibers and
improving the reliability
and service life of fibers.
1. To complete the 1. To address packaging The vacuum optical cable
independent sealing of issues for vacuum assemblies developed
R&D of Vacuum optical fibers and
assemblies used between
The project is under this project achieve
atmospheric and vacuum
Optical Cable components addressing under hermetic and
Assemblies air-tightness at the
environments;
development. environmental sealing
interface between 2. To address abnormal capabilities through
atmospheric and vacuum outgassing of vacuum structural design involving
environments from the optical cable assemblies optical fibers
35Luxshare Precision Industry Co. Ltd. 2025 Annual Report
component side; under vacuum conditions components and related
caused by material and parts. This is expected to
2. To improve process limitations; make the product more
concentricity between competitive.vacuum assembly 3. To address increased
connectors and optical stress structural
fibers; deformation or damage to
optical fibers caused by
3. To improve the angular expansion or contraction of
alignment accuracy of the materials in vacuum
stress-applying regions in environments due to
polarization-maintaining differences in thermal
fibers used in vacuum expansion coefficients;
polarization-maintaining
connectors. 4. To address poor
concentricity between
vacuum connectors and
optical fibers;
5. To address issues with
aligning the stress-
applying regions of
polarization-maintaining
fibers in certain vacuum
polarization-maintaining
connectors.
1. To address the lack of
process measures in
traditional processes for
arranging multi-core fiber
bundles where the
1. To complete the design arrangement affects optical
of a dynamic micro- alignment signal crosstalk
adjustment and fixing control and mechanical
device for aligning multi- stability;
core fiber arrangements 2. To address adhesive
including rectangular and curing overflow or internal
circular arrangements; adhesive loss in multi-core
2. To complete the design fiber bundles; Through R&D of the
R&D of Multi-Core of single-fiber positioning
production process the
The project has 3. To address burrs edge
project is expected to
Array Optical Cable and optical transmission entered the mass chipping or microcracks
testing at both ends of resolve product quality Assemblies production stage. that occur during multi-
multi-core fiber issues reduce costs and core fiber cutting;
arrangements; improve efficiency.
4. To address the
3. To complete the design positioning of single fibers
of multi-core fiber cutting; in the arrangement at both
4. To complete the process ends of multi-core fibers;
design for adhesive 5. To improve the
assembly of multi-core symmetry and uniformity
fibers. of multi-core fiber bundle
arrangement thereby
avoiding reduced optical
signal transmission
efficiency caused by
alignment accuracy.The project aims to The project aims to The system achieves a
R&D of an develop an automated develop an automated finished-product yield of
Automated Surface- SMT production line. The project has production line suitable for more than 99.5%. It can
Mount Technology Previously only the entered the mass SMT enabling full- automatically identify
(SMT) Production loader printer SPI production stage. process automated SMT defects read material QR
Line mounter reflow oven and production. codes and record
unloader were connected production time
36Luxshare Precision Industry Co. Ltd. 2025 Annual Report
for automated production. production equipment
To meet the requirements defect quantities and
of new products laser other information.marking pallet loading
AOI pallet unloading
robots and ovens have
been added to the line.This reduces manual
operations in substrate
marking pallet loading
and unloading manual
inspection oven loading
and unloading and pallet
transfer. As a result the
process has been
simplified into a fully
automated flow consisting
of bare loader laser
marking flux printer
solder printer pallet
loader SPI mounter
AOI1 reflow oven buffer
washer buffer AOI pallet
unloader robot and oven
unloader improving
efficiency and reducing
uncontrollable factors
caused by manual
operations.With the increase in NPI
products equipment needs
to be changed over
frequently in scenarios
involving small batches
and multiple product
types. NPI technicians
independently developed
and introduced high-
strength magnetic sensors
to replace screw fastening
for the frame sensors of
the equipment addressing The project aims to
difficulties in changeover develop and apply high-
and improving efficiency. strength magnetic sensors
to replace the existing By switching to high-
Introduction of The project is also
designed to address the The product has hardware used on the strength magnetic sensors High-Strength
Magnetic Sensors limited operating space of
been installed and equipment thereby the project is expected to
for DTR Mi the wafer table which
implemented on improving changeover reduce the time required
makes adjustment the equipment. efficiency enabling for each equipment Equipment
difficult. In particular precise positioning and changeover.when changing over to reducing operational
GaAs standard eight-inch inconvenience for frontline
and large eight-inch production personnel.materials the sensor
position previously had to
be adjusted manually
resulting in longer
debugging time delays in
production progress and
potential increases in
equipment capacity
requirements. By
replacing existing
hardware with high-
strength magnetic sensors
37Luxshare Precision Industry Co. Ltd. 2025 Annual Report
the project can improve
changeover efficiency
enable precise positioning
reduce operational
inconvenience for
frontline production
personnel and meet the
efficiency requirements of
frequent changeovers for
small-batch multi-variety
products.The project aims to
establish a testing platform
Through this solution the
for the Company’s highly
Company has introduced
integrated 5G RF front-
highly integrated
end L-PAMiD modules The Company has
3G/4G/5G multi-mode
Introduction of enabling standardized and introduced integrated
modem L-PAMiD 5G RF
Integrated Testing scaled testing of highly testing technology for
Trial production front-end modules
Technology for integrated 2G/3G/4G/5G highly integrated
and actual mass standardized the
Highly Integrated multi-mode modem L- 3G/4G/5G multi-mode
production equipment debugging
3G/4G/5G Multi- PAMiD 5G RF front-end modem L-PAMiD 5G RF
qualification are process and enhanced the
Mode Modem L- modules. The front-end modules and
in progress. testing capabilities for L-
PAMiD 5G RF representative products developed long-life inner-
PAMiD products. The
Front-End Modules tested under this project spring probes capable of
solution also aims to
mainly include highly withstanding 3 A current.significantly improve
integrated 2G/3G/4G/5G
production efficiency and
multi-mode modem L-
reduce costs.PAMiD 5G RF front-end
modules.The project is designed to
develop a new switch
socket to address existing
issues and meet the high
standards required in RF Since the addition of the
The project aims to
antenna and related raised boss the risk of
develop and design a
R&D of a New RF applications. It also aims The project has material scratching has
switch socket that can
Antenna Switch to improve production entered the mass been significantly
reduce the risk of material
Socket efficiency reduce costs production stage. reduced. The product has
scratching and protect the
promote technological been successfully applied
probes.innovation and to customers’ products.development and
ultimately achieve cost
reduction and efficiency
improvement.The project aims to The project aims to
improve equipment improve equipment
performance parameters performance parameters
through the through the redevelopment
redevelopment of testing of testing equipment and
equipment and testing testing programs so as to
Introduction of STS- programs so as to meet Trial production meet the testing The development of the
T4 Testing the testing requirements of and actual mass requirements of Wi-Fi 7 Wi-Fi 7 high-frequency
Technology for Wi- Wi-Fi 7 high-frequency production high-frequency RF front- RF front-end testing
Fi 7 RF Front-End RF front-end products. qualification are end products. The solution has been
Modules The development of this in progress. development of this testing completed on schedule.testing technology is also technology is also
expected to drive the expected to drive the
development of related development of related
industries and create more industries and create more
employment opportunities employment opportunities
and economic benefits. and economic benefits.
38Luxshare Precision Industry Co. Ltd. 2025 Annual Report
The project focuses on
developing a testing
solution for highly
integrated 5G RF front-
end L-PAMiD modules.Through this solution the
project aims to enable
standardized and scaled
testing of L-PAMiD chips.Standardized testing
unifies processes and
indicators and ensures
consistent product
Through this solution the
performance while scaled
project aims to enable
testing significantly
standardized and scaled
improves production The R&D of testing
testing of L-PAMiD chips.efficiency and reduces technology and the
R&D of Testing Trial production Standardized testing
costs. This solution not development of the testing
Technology for and actual mass unifies processes and
only can improve the solution for highly
Highly Integrated production indicators and ensures
performance and integrated 5G RF front-
5G RF Front-End L- qualification are consistent product
reliability of RF front-end end L-PAMiD modules
PAMiD Modules in progress. performance while scaled
modules and meet the have been completed on
testing significantly
stringent requirements of schedule.improves production
5G communications but
efficiency and reduces
can also strongly support
costs.domestic substitution
reduce reliance on foreign
technologies promote
breakthroughs in RF
devices in terms of
miniaturization multi-
band support and cost
reduction enhance the
market competitiveness of
domestic RF front-end
chips and support the
development of domestic
technologies.This project aims to
The project aims to
develop a mmWave RF
complete the development Once launched the project
Design and front-end module for Initial sample
of the mmWave RF front- is expected to expand
Development of terminals in order to production has
end module and achieve network capacity and
mmWave Antennas expand network capacity been completed.sample verification/pilot- enhance user experience.and improve user
scale introduction.experience.Preliminary
technical research
and solution
This project aims to
design have been
overcome key technical The project aims to The project will help
completed. The
bottlenecks in the establish a complete establish the Company’s
project has
precision manufacturing precision manufacturing technological advantages
Application of entered the core
of metal frames for AI process system develop in high-end smart
Precision Structural process
smart glasses. By proprietary intellectual wearable manufacturing
Manufacturing development
integrating metal 3D property achieve open up new business
Processes for AI stage with
printing with precision breakthroughs in product growth opportunities and
Smart Glasses material
post-processing it enables performance and gain the enhance its overall
compatibility
the rapid integrated capability of efficient mass solution capabilities and
verification and
manufacturing of complex supply. industry influence.initial trial
and lightweight structures.production of
samples currently
underway.
39Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Product
requirements
have been
finalized and the
design has been
The project aims to deliver
frozen. The
a market-competitive mass The project will drive the
structural design
This project aims to production solution for Company’s key
has undergone
overcome key technical ultra-thin integrated metal transformation from
multiple rounds of
bottlenecks in metal casings complete the manufacturing execution
simulation
Development of housings for wearable patent portfolio for core to technology-driven
optimization
Structures and devices supporting the technologies achieve the development build core
preliminary
Processes for New Company’s upgrade from successful commercial technical barriers in high-
verification
Smart Wearable basic manufacturing to application of end wearable hardware
results for key
Devices high-end design and technological create a high-quality
surface treatment
solution capabilities and achievements in flagship growth channel and
and precision
enabling its entry into products and enhance establish the Company’s
machining
higher-value markets. reusable high-end position as an industry
processes have
precision manufacturing innovator.met expectations
capabilities.and collaborative
development with
the supply chain
is progressing
smoothly.Structural
The project will enable the
analysis and
This project aims to The project aims to Company to enter the
material selection
develop high-performance establish a mass supply chain for core
for the watch case
titanium alloy watch cases production process for structural components of
have been
based on 3D printing titanium alloy watch cases high-end smart wearables
3D-Printed completed. Thetechnology combined using the “3D printing + form distinctive technicalTitanium Alloy project iswith innovative injection injection molding” advantages in titanium
Watch Case Raw currently
molding processes to composite forming alloy precision
Materials + undergoing
provide high-end approach optimize the manufacturing expand
Injection-Molded solution design
smartwatch brands with balance between structural cooperation opportunities
Components and mold
watch case solutions that performance and cost with leading brands and
development for
integrate light weight control pass customer enhance its market
the composite 3D
high strength and complex verification and build position in the consumer
printing and
functions. batch delivery capabilities. electronics precision
injection molding
manufacturing industry.process.The SUS316L The project will establish
This project aims to
surface nano- The project aims to the Company’s
develop NMT watch case
treatment process establish a mature mass- technological leadership
technology based on
Development of has been production process for in metal-plastic composite
SUS316L stainless steel
SUS316L Stainless developed. Mold SUS316L NMT watch structure manufacturing
enabling nanoscale
Steel Watch Cases design for the cases achieve stable and expand its presence in the
bonding between metal
Using Nano NMT process and reliable metal-plastic high-end smart wearable
and plastic and improving
Molding material bonding strength complete and consumer electronics
the structural strength
Technology (NMT) compatibility sample verification and markets enhance product
lightweight performance
testing are develop scaled production differentiation and
and design flexibility of
currently capabilities. strengthen its overall
watch cases.underway. technological capabilities.In the 5G era chip heat 1. To complete the design The R&D process
flux density is rising
Design and of ultra-thin VCs and
developed under this
rapidly while traditional project is expected to be
Manufacturing of research on their forming natural convection air- The project has
Finished VCs and mechanisms including:
officially introduced into
cooling and water-cooling entered the mass the production line before
Research on solutions are increasingly production stage. (1) Design of ultra-thin February 2026. VCs as
Materials and unable to meet the space VCs with screen-mesh efficient two-phase heat
Performance requirements of wicks and research on their transfer components offer
miniaturized devices. forming mechanisms; excellent in-plane
Although graphite sheets temperature uniformity
40Luxshare Precision Industry Co. Ltd. 2025 Annual Report
offer good in-plane (2) Structural simulation: high thermal conductivity
thermal conductivity their Research on the structural and compact structures
through-thickness thermal strength and sealing of and have demonstrated
conductivity is limited. ultra-thin cavities; broad application value
Ultra-thin VCs which use and strong
the latent heat of gas- (3) Fluid simulation: industrialization potential
liquid phase change for Research on gas-liquid across multiple high-tech
efficient heat transfer transport and phase change fields. In consumer
offer advantages such as at ultra-thin scales; electronics with the
low axial thermal continuous upgrading of
(4) Capillary force
resistance large 5G smartphones high-
confirmation: Research on
evaporation/condensation performance laptops and
the capillary performance
areas and excellent wearable devices chip
and evaporation efficiency
temperature uniformity. power consumption
of wicks.However their continues to rise and local
performance is still 2. To complete the R&D heat flux density has
constrained by thermal and design of high- increased significantly.interface materials reliability graphene Traditional graphite
(TIMs). Mainstream conformal all-solid-state cooling films and metal
silicone grease solutions VCs including: heat spreaders can no
are prone to uneven longer fully meet thermal
thickness instability at (1) Research on multi- management
high temperatures pump- dimensional conformal requirements. Ultra-thin
out and cracking. forming technology for VCs with a thickness of no
Therefore the thick graphene; more than 0.3 mm have
development of new TIMs become standard
with high thermal (2) Graphene film configurations in flagship
conductivity high encapsulation processes; models driving steady
stability and high market demand.
(3) Graphene-metal large-
reliability has become
area welding method;
critical to improving VC With the continued
cooling efficiency and advancement of China’s (4) Simulation and testing
supporting the continued “dual carbon” goals and of the reliability and heat
miniaturization and high-end manufacturing dissipation performance of
performance enhancement as well as the rising all-solid VCs;
of electronic devices. thermal management
Current mainstream 3. To design an integrated requirements of strategic
market solutions mostly VC structure semi- industries such as
use copper materials and finished product and semiconductors optical
brazing processes to processing method based communications and new
produce ultra-thin VCs. on 3D printing; displays VCs are
This project proposes to expected to shift from
replace traditional 4. To complete sample trial import dependence to
processes with laser production covering sheet independent
welding and stainless steel processing heat treatment controllability and export
materials while also surface treatment water substitution. They will
developing high- injection primary vacuum achieve a better balance
reliability graphene degassing secondary among performance cost
conformal all-solid-state thermal degassing and reliability becoming
VCs and establishing a environmental testing and indispensable core
simulation-based subsequent performance components for high-end
performance evaluation evaluation; electronic equipment and
model for vapor chambers. offering broad
5. To file four invention industrialization prospects
patent applications. and strategic development
significance. Overall the
R&D results of this project
have wide application
potential in electronic
product manufacturing
and strong prospects for
industrialization.Foldable 3C devices use The project has 1. To research and design The R&D process
Hinge Module R&D hinges to enable screen entered the mass the overall architecture of developed under this
Project unfolding and folding production stage. foldable hinges; project is expected to be
meeting users’ needs for officially introduced into
41Luxshare Precision Industry Co. Ltd. 2025 Annual Report
both portability and large- 2. To complete the design the production line before
screen experiences. of the core component February 2026. Hinges for
However existing hinges namely the torque control electronic devices must
still face technical component; not only support highly
bottlenecks including reliable folding for
complex structures high 3. To complete the design hundreds of thousands of
costs difficulty in of an integrated cycles but also integrate
coordinating multiple synchronous drive and dust resistance free-stop
torque modules multi-degree-of-freedom positioning lightweight
insufficient stability and linkage hinge mechanism. design and other
challenging maintenance. Specifically the project composite functions. They
In waterdrop-shaped hinge proposes a hinge directly determine the user
designs the folding space mechanism integrating experience and market
is constrained by synchronous drive and competitiveness of end
excessive curvature of the multi-degree-of-freedom products and have
arc arms which can easily linkage for hinge systems become a core component
lead to stress in foldable 3C devices market worth RMB10
concentration increased enabling high-precision billion. Once the R&D
device thickness screen large-angle folding motion results for high-end hinges
stretching and and a smooth operating are industrialized they
compromised waterproof feel; will strongly drive
sealing. In system upgrades across the entire
4. To complete the
integration it is also industrial chain including
improved design of a
difficult to balance upstream specialty
dedicated hinge for
slimness durability and materials precision
inward-folding flexible
user experience. machining processes and
screens;
Therefore breakthroughs downstream system
are needed to address the 5. To file three invention integration testing and
trade-offs among patent applications. evaluation. Achieving
structural simplification independent design and
mechanical performance manufacturing of high-end
and reliability. This hinges will not only
project aims to develop a reduce reliance on foreign
high-precision long-life technologies but also help
large-angle folding hinge form proprietary
module for inward-folding intellectual property and
flexible-screen 3C technical standards
devices. It can be applied building a robust
to foldable smartphones competitive edge in the
with inward-folding industry and enabling the
screens foldable tablets Company to secure a
laptops and other portable favorable position in
electronic devices global high-end
requiring frequent opening manufacturing
and closing and high competition. Overall this
reliability. process has broad
application potential in
electronic product
manufacturing and strong
prospects for
industrialization.This project focuses on the The project aims to
development of a high- complete the development This project will help
density compute server of an 8U GPU compute enhance the Company’s
platform aiming to server platform conduct product competitiveness
enhance the Company’s adaptation in collaboration and technological
R&D of 8U Rack- technical capabilities in The project has with domestic switch chip influence in AI servers and
Mounted Compute complete system entered the mass vendors integrate Intel compute servers and
Servers architecture design core production stage. EMR and AMD Turin strengthen its business
component integration compute modules support expansion capabilities in
thermal management and up to 32 800Gb OSFP the high-performance
high-speed interconnects ports and deliver high computing and AI
meet customers’ needs for bandwidth high infrastructure markets.high-performance and scalability and customer-
highly scalable computing specific customization
42Luxshare Precision Industry Co. Ltd. 2025 Annual Report
infrastructure and further capabilities.strengthen the Company’s
product competitiveness
and industry influence in
the AI server and
computing server sectors.The development of data
center switches is
significant because it
represents not only a
technological
breakthrough but also a
core engine driving the
growth of AI computing
power. Vendors need to The project aims to
achieve both higher speeds complete the development
and greater flexibility in of a 2U rack-mounted ICN
technology. To stand out Switch Box switch realize This project will help
in the market they must the design of a core strengthen the Company’s
pursue differentiation switching board based on technical reserves and
R&D of 2U Rack-
while ensuring The project has high-end switch chips and product competitiveness
Mounted ICN
performance. Through this entered the mass achieve non-blocking in data center switches
Switch Box
forward-looking and production stage. line-rate switching traffic providing support for
Switches
strategic cooperation filtering and queue subsequent market
strategy the Company can scheduling capabilities to expansion and sustainable
gain advantages in meet the needs of data business growth.technological innovation center applications
market expansion supply requiring high bandwidth
chain integration and and low latency.other areas. This will help
improve the Company’s
overall revenue
competitiveness and
market position while
also increasing its
influence in the data center
switch sector.This project aims to The project aims to create
develop a highly disposable defibrillation
compatible product that electrode pads that comply
meets medical safety with international medical
standards. It addresses standards. Key indicators Global demand for
issues associated with including conductive emergency medical
traditional reusable impedance adhesion equipment continues to
electrode pads such as durability and skin safety rise and disposable
cross-infection risks and are expected to reach defibrillation electrode
conductive gel industry-leading levels. pads are core supporting
R&D of Low- degradation while The product will be
consumables. This project
will also help the
Impedance Safe ensuring stable current The project has compatible with
Conductive Smart transmission to the entered small- mainstream defibrillator
Company expand into the
Integrated Modules myocardium during batch trial brands and meet usage
emergency consumables
for Defibrillation defibrillation. The project requirements across
segment strengthen its
production.can meet the urgent multiple scenarios industrial chain layout Electrode Pads
clinical need for safe including pre-hospital further enhance industry
emergency consumables emergency care and in- competitiveness and
and improve the success hospital emergency promote the scaled
rate of rescue for patients departments. After mass development and
with cardiac arrest. It can production unit cost is capability upgrade of
also fill the market gap for expected to decrease by Time Medical in the
cost-effective disposable 15% improving product emergency medical field.electrode pads helping the market competitiveness
Company expand its providing safe and reliable
presence in emergency emergency consumables
consumables and capture for clinical use and
43Luxshare Precision Industry Co. Ltd. 2025 Annual Report
market growth supporting the Company’s
opportunities. product portfolio
expansion in the
emergency medical field.This disposable three-core
high-frequency
This project aims to electrosurgical pencil
develop a product that cable assembly is mainly
complies with medical used in surgical high-
safety requirements by frequency electrosurgical
optimizing the wiring systems. With safe and
harness transmission The project aims to stable transmission
structure the foolproof develop disposable wiring performance and strong
design at the plug end and harness assemblies that compatibility the product
the adaptability of the meet medical safety is expected to achieve
electrosurgical pencil end. standards ensure high- average annual sales
R&D of High-
It is intended to meet the frequency energy growth of more than 30%
Precision
core clinical needs of transmission accuracy of over the next three years
Interconnect
precise energy over 98% enable reliable driven by the continued
Modules for The project has
transmission and reliable function switching and growth in surgical
Disposable Three- entered small-
function switching during adapt to surgical operating procedures and steady
Core High- batch trial
surgical procedures while scenarios. The product will expansion of market share.Frequency production.addressing shortcomings prevent risks such as The successful
Electrosurgical
in existing products incorrect insertion and implementation of this
Pencil Cable
related to safety protection poor contact ensure project will further
Assemblies
and operational structural integrity and improve the Company’s
compatibility. The project safety during single use medical consumables
will help capture market and provide stable and safe product line strengthen its
share enhance the transmission support for technical influence and
Company’s surgical operations. market competitiveness in
competitiveness in surgical consumables and
medical consumables and inject strong momentum
provide solid support for into the Company’s
the safety and efficiency continued development in
of surgical procedures. the healthcare industry
and scaled growth of its
medical segment.The Company has
launched this project to
develop reusable surgical
electrosurgical
The project aims to provide
components Force
highly compatible
TriVerse devices. The
reusable electrosurgical
project aims to create This project will help
components reducing
components that combine improve the Company’s
clinical consumables costs
compatibility durability product portfolio in the
by over 40%. Through
and functionality. By field of surgical
R&D of Medical precise mode control and
optimizing the connector The project has instruments enhance its
Force TriVerse convenient connection
design the product will entered small- technical capabilities and
Electrosurgical design the product will
enable plug-and-play batch trial market competitiveness in
Three-Mode Control improve surgical
compatibility with production. the high-value medical
Modules efficiency and precision
mainstream energy device segment and
reduce surgical safety
platforms. Sterilization- support the continued
risks help physicians
resistant materials will be expansion of its medical
complete procedures
used to ensure reliability business.efficiently and support
for repeated use while
patient safety and
multi-mode fingertip
postoperative outcomes.control will support
operating needs such as
hemostasis and tissue
dissection.R&D of a Hair This project aims to The project has The project aims to enable The implementation of
44Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Dryer Based on the develop a new product and entered the mass a comprehensive upgrade this project will further
Nural Dual-Sensor enhance the Company’s production stage. of the HD16 hair dryer in enrich the Company’s
Intelligent product competitiveness. terms of performance hair portfolio of mid- to high-
Temperature care user experience and end smart personal care
Control System manufacturing process. appliances build
Core temperature control differentiated core
accuracy will reach ±1°C competitiveness and help
drying efficiency will increase the Company’s
increase by another 15% market share and brand
negative ion concentration influence in the personal
will increase to 200 million care segment. It will also
ions/cm3 and AI-based enable the Company to
hair quality recognition master core capabilities in
will be added to enable the integrated application
precise intelligent hair of this sensor technology
care. The body weight will in compact personal care
be reduced to within 500 g appliances laying a
noise will be controlled technical foundation for
below 70 dB IPX5 water intelligent upgrades and
resistance will be added category expansion of its
and multiple international personal care products.certifications will be
obtained expanding use
across more scenarios. On
the mass production side
an integrated hot-melt
process will be adopted to
raise the yield rate to above
99.5% reducing costs and
improving efficiency while
significantly enhancing the
product’s competitiveness
in the premium market.The project aims to The project will fill the
develop a customized Company’s gap in the
TPEE formulation that can high-end hot air brush
precisely match the category create
operating requirements of differentiated product
hot air brushes. Hardness advantages based on both
will be controlled within materials and processes
the Shore D50–60 range and enhance its market
tensile strength will reach competitiveness and brand
at least 25 MPa elongation recognition in the personal
at break will reach at least care segment. It will also
300% and mechanical enable the Company to
performance loss after master core technologies
R&D of Hot Air 1000 hours of continuous in TPEE custom
Brushes Based on This project aims to The project has operation at 150°C will be formulation development
Integrated TPEE develop a new product and entered small- no more than 10%. and integrated precision
Custom Formulation enhance product batch trial Resistance to skin oils and molding form
and Precision competitiveness. production. hair care product residue independent technical
Molding corrosion as well as barriers accumulate
composite compatibility experience for material
will meet Dyson technical innovation and process
standards. At the process upgrades in future
level the project aims to personal care products
establish an and strengthen the
injection/extrusion foundation for technology
molding parameter system R&D and smart
compatible with existing manufacturing. At the
production equipment same time the high-value-
resolve interface added new product will
delamination issues in help the Company expand
composite molding into the mid- to high-end
achieve a finished product consumer market and
45Luxshare Precision Industry Co. Ltd. 2025 Annual Report
pass rate of at least 99% create a new profit growth
and form a complete driver.technical solution from
formulation development
to mass production
overcoming existing
application bottlenecks.The project will further
enrich the Company’s
portfolio of mid- to high-
end personal care
The project focuses on the
appliances and create
implementation of core
differentiated product
technologies and process
advantages integrating
innovations including
temperature control
high-speed power systems
safety and hair care
smart temperature control
functions. It will precisely
and airflow optimization.meet consumers’ demand
It will enable the
for high-quality
application of core
R&D of Hair Dryers multifunctional personal
technologies such as the
Based on Smart This project aims to care products helping
The project has V9 digital motor smart
Temperature develop new technologies improve the Company’s
entered the mass temperature control and
Control and and enhance product market competitiveness
production stage. airflow amplification
Negative Ion Hair competitiveness. brand recognition and
overcome key processes
Care Technology mid- to high-end market
such as ultrasonic welding
share in the personal care
achieve the dual effects of
segment. It will also
powerful drying and
enable the Company to
constant-temperature hair
master core capabilities in
care establish related core
the integrated application
process standards and
of smart temperature
realize breakthroughs in
control and negative ion
core technologies for high-
technology accumulate
speed hair dryers.related R&D and
industrialization
experience and form
technical barriers.The project aims to create
The project will help the
a multifunctional product
Company form
capable of reaching a
independent technical
rotational speed of up to
barriers enhance product
104000 rpm pushing 11.9
competitiveness and brand
liters of air per second and
positioning enter the
generating 3.4 kPa of air
high-end personal care
pressure. Airflow will be
R&D of Hair market and optimize its
precisely directed
Straighteners Based business structure and
downward at a 45° angle.on Dynamic profitability. The related
This project aims to A glass-bead thermistor in
Temperature The project has technologies can be reused
develop a new product and the handle can monitor and
Adjustment Hair entered the mass across platforms to
enhance product adjust airflow temperature
Quality production stage. support multi-category
competitiveness. up to 16 times per second.Recognition and expansion promote the
The product can
Sonic Ion Company’s strategic
intelligently detect
Penetration upgrade toward smart
whether hair is between the
health and personal care
arms support both dry and
achieve both economic
wet hair modes with three
benefits and industrial
temperature settings of
value and provide strong
80°C 110°C and 140°C
support for the Company’s
and automatically pause
long-term high-quality
when left idle for three
development.seconds.R&D of a Fully This project aims to The project has The project has realized The project will enable
46Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Automated Curling develop new process entered the mass automatic assembly of full-process automation
Iron Test Line Based technologies improve production stage. curling iron buttons onto intelligence and
on Flexible-Chain production efficiency and end caps automatic standardization in curling
Smart Conveying product process quality application of adhesive iron production and
and reduce labor costs. backing onto curling iron testing. It can significantly
end caps and automatic improve testing efficiency
pressing after button and product consistency
assembly and adhesive reduce labor costs and
backing application. defect rates and enhance
Micro-adjustment production delivery
technology has been capability and quality
adopted to achieve micro- control. The related smart
scale assembly. The yield testing technologies can
rate for controlling be extended to multiple
adhesive backing bubbles categories of the
has reached 99.5% Company’s hair styling
keeping the occurrence products forming core
rate of adhesive backing process advantages and
bubbles below 0.5%. technical barriers. The
project will help drive the
Company’s smart
manufacturing upgrade
optimize its production
structure strengthen
overall competitiveness
and profitability and
provide important support
for high-quality and
sustainable development.As industrial digital
This project aims to adopt
transformation advances
a lightweight ergonomic
frontline workers need to
design and a high-
free their hands and access
transmittance optical
real-time data or remote
waveguide display
expert guidance during
module enabling the
complex operations. The project will enrich the
device to maintain clear
However many AR Company’s product line
display performance
glasses currently available and fill its gap in the high-
outdoors or in complex
on the market are heavy to end industrial AR field. It
lighting environments. The
wear have short battery will strengthen core
R&D of High- product also integrates an
life display poorly under The project has technical barriers and
Performance AR explosion-proof battery
strong light or fail to meet entered the pilot product competitiveness
Smart Industrial industrial-grade protective
industrial-grade protection production stage. help expand the
Glasses housing and HD video
standards resulting in a Company’s share in the
transmission module.poor user experience in B2B (enterprise) market
While meeting the
industrial settings. To and create new profit
requirements of
address these pain points growth drivers and greater
demanding industrial
and improve operational economic benefits.environments it enables
efficiency and safety in
accurate voice and gesture
industrial scenarios the
interaction low-latency
Company has launched the
remote collaboration and
R&D of high-performance
long-term comfortable
AR smart industrial
wear.glasses.This project aims to This project will help
develop a high-precision break foreign technology
R&D of a High- control system with The project aims to monopolies improve
Precision Tension proprietary intellectual The project has develop a high-precision China’s high-end loom
Control System for property helping break entered the pilot control system with manufacturing and elastic
Woven Elastic Weft foreign technology production stage. proprietary intellectual fabric production
Yarn monopolies and improve property. capabilities and promote
China’s capabilities in the upgrading of textile
high-end loom production capabilities.manufacturing and elastic
47Luxshare Precision Industry Co. Ltd. 2025 Annual Report
fabric production.The project aims to deliver
The development of The development of
an engineering prototype
highly biomimetic tactile highly biomimetic tactileof the “Bionic Tactilesensing gloves is a key sensing gloves is a key
R&D of Bionic The project Sensing Gloves for
core component direction core component directionTactile Sensing entered the Humanoid Robots” with
for overcoming the for overcoming the
Gloves for acceptance and complete functions and
dexterity bottleneck of dexterity bottleneck of
Humanoid Robots summary stage. internationally advanced
humanoid robots and humanoid robots and
performance together with
improving their practical improving their practical
a full set of technical
application capabilities. application capabilities.documentation.The development of this
system will significantly
improve the
The project has
Project Proposal for This project is designed to environmental
entered the The project aims to provide
the R&D of All- develop a flexible adaptability and
optimization humanoid robots with all-
Weather Adaptive adaptive protective robustness of humanoid
iteration weather and all-around
Protective Skin for outerwear system similar robots marking a key step
acceptance and physical protection.Humanoid Robots to an “elastic raincoat”. in their transition from
summary stage.“demonstration products”to “durable commercialproducts”.Engineering This project will further
validation test promote the Company’s
(EVT) trial development in the
assembly medical and FATP fields
verification has expand its basis for market
been completed. competition and
This project aims to meet
This trial strengthen its core
the demand of people with
production is competitiveness in
hearing impairment for
This project is designed to intended for type response to macro market
high-quality hearing
develop a highly inspection and regulation. Certification
compensation. It will
integrated modular certification as by the National Medical
enable an upgrade from
hearing improvement well as manual Products Administration
passive user adjustment to
device embedded with AI full-process trial- will improve the
AI-based intelligent
functions addressing the run verification. Company’s medical
R&D of Battery- recognition and dynamic
high-standard hearing Subsequent work device management
Powered Hearing adjustment across different
needs of people with will focus on capabilities and provide a
Aids frequency bands adapting
hearing impairment while process “gateway” for the lawful
to the personalized needs
expanding the Company’s optimization production sale and
of users with different
product business automation of operation of medical
types of hearing loss. It
enriching its product certain devices. It will also
also aims to support the
portfolio and entering the workstations demonstrate to the market
Company’s extension into
medical products industry. customization of that the Company’s
final assembly testing and
fixtures tools product quality and safety
packaging (FATP) and the
and equipment comply with mandatory
medical field.and preparation of national standards. In
technical terms of social
documentation contribution the project
for the design will increase commercial
validation test opportunities and market
(DVT) stage. competitiveness.
This project is designed to DVT-stage The project aims to This project will promote
develop a high- assembly upgrade cable assembly the Company’s
performance high- verification has manufacturing from development in the ultra-
R&D of Ultra-Fine quality lighter and been completed. manual and semi- fine coaxial cable field
Coaxial Cables for thinner signal The project is automated operations to significantly improve
VR Glasses transmission wiring currently fully automated related process
harness specifically for preparing samples operations accumulate technologies and
VR smart wearable for the DVT2 related technologies and manufacturing
devices. It aims to address stage. Automated experience expand the capabilities enhance its
48Luxshare Precision Industry Co. Ltd. 2025 Annual Report
customers’ signal module assembly Company’s development fully automated
transmission requirements has been in the field of high-end manufacturing level
for high-definition screen completed the ultra-fine coaxial wiring expand new business
display while making the full-process trial harness meet the demand tracks and growth drivers
waring harness assembly run has been for lighter and thinner increase value across the
lighter with good swing verified as OK cable assemblies in high- industrial chain and
performance thereby and verification end electronic devices and strengthen market
improving the user documents and continuously improve the competitiveness and the
experience of smart data are being Company’s industrial product’s market share.wearable devices. prepared. automation and smart
manufacturing capabilities
in cable assemblies.The project aims to achieve
VCM Spring etching
100% in-house production This project will help
technology can
of VCM Spring etching. improve the Company’s
VCM Spring significantly enhance the
The technology is well- process capabilities and
Etching Technology Company’s competitive The project has
established not restricted cost competitiveness in
Application advantages in etching entered the mass
by domestic or foreign VCM shield components
Development reduce production costs production stage.technologies can be used while enhancing its ability
Project improve yield and
continuously and delivers to secure related product
provide high-quality low-
costs 30% lower than the orders.cost components.industry level.Rack-and-barrel plating
R&D Project for technology for shield cans This project will help
The project aims to achieve
Optimization of can significantly enhance improve the Company’s
100% in-house production
High-Corrosion- the Company’s process capabilities and
The project has of VCM shield cans. The
Resistance Rack- competitive advantages in cost competitiveness in
entered the mass technology is mature can
and-Barrel Plating electroplating reduce VCM shield components
production stage. be used continuously and
Technology for production costs improve while enhancing its ability
delivers costs 30% lower
VCM Shield yield and provide high- to secure related product
than the industry level.Substrates quality low-cost orders.components.The target product of this
project is intended for
high-end sports and
competitive smartwatches.Using an ultra-precision
This project will help
fingerprint recognition
enhance the Company’s
This project aims to module the product
technological innovation
develop modules with applies biometric
R&D of Press-Type capabilities and product
fingerprint recognition The project has recognition technology to
Smart Wearable competitiveness in
functions for smart entered the R&D identify users by
Modules with precision modules for
wearable devices validation and comparing detailed
Fingerprint smart wearables while
improving product testing stage. features of different
Recognition strengthening its business
technology and market fingerprints. Through
expansion capabilities in
competitiveness. fingerprint image
the high-end wearable
acquisition processing
market.feature extraction and
matching it enables high-
precision identity
verification and secure
authentication.The project product is The project will expand
The project is designed to
R&D of Wireless expected to reach a market share and profit develop wireless
Bluetooth Earbuds Bluetooth earbuds The project has
domestically leading potential strengthen the
with Ambient Noise featuring environmental entered the R&D
technical standard and Company’s technical
Reduction and validation and approach the level of top competitive edge in the noise reduction and
Conversation international players. In audio field reduce conversation awareness testing stage.Awareness terms of hardware it uses a reliance on external functions improving
four-microphone array on technology licensing and
product technology and
each side including lower R&D costs. By
49Luxshare Precision Industry Co. Ltd. 2025 Annual Report
market competitiveness. feedforward feedback creating hit products
and dedicated pickup through technological
microphones paired with innovation it can enhance
an audio-specific chip the Company’s brand
equipped with a neural awareness in consumer
processing unit (NPU). electronics lay a user
The product achieves a foundation for the
noise reduction depth of 42 subsequent R&D and
dB and supports adaptive promotion of smart
adjustment in noise wearable devices and
environments ranging form a virtuous cycle offrom 10 dB to 100 dB. “technology R&D –Conversation awareness strong product sales –
uses a “microphone pickup brand upgrading”.+ AI human voice featurerecognition” algorithm
with mode-switching
latency controlled within
80 ms and a false-trigger
rate below 3%. A
dedicated wind noise
suppression algorithm is
also added to ensure clear
calls outdoors even under
Level 6 wind conditions.This project is designed to
address issues such as low
precision and low The project aims to
efficiency associated with integrate intelligent
traditional processes in the production modules such This fixture has changed
industry reduce labor as pre-pressing cylinders the conventional
costs and improve pre-push shaft fixing positioning fixture
automation and blocks servo motors approach for precision
integration in the Gear-Arm pre-assembly hinges and can drive
production process. It platforms positioning automation upgrades
mainly includes:
R&D of Precision The project has platforms and base across the industry.Hinge Assembly entered the mass positioning pins to achieve 1. Improving assembly Through further
Fixtures production stage. high-quality production. efficiency and equipment optimization it
The technical indicators
consistency; will ultimately achieve
achievable under this high-precision high-
2. Improving product yield project are as follows: efficiency and high-yield
and reliability; production with excellent
1. Assembly position
production reliability and
3. Responding to the accuracy: ±0.02 mm; processing stability.
localization needs of high-
2. Process assembly pass
end manufacturing;
rate: ≥98%.
4. Forming core technical
assets.
50Luxshare Precision Industry Co. Ltd. 2025 Annual Report
The initiation and
development of this
project aim to move away
from inherent production
methods reduce labor
costs and improve
production efficiency This project integrates
product yield rate and automatic loading using
production capacity automated guided vehicles
stability. The main (AGVs) four-axis and six-
objectives and axis robots working with
significance are as charge-coupled device
follows: (CCD) positioning film
removal performance
1. To expand production testing CCD re-
capacity reduce inspection real-time
dependence on manual product positioning
labor lower labor costs product handling and By combining different
move away from existing other functions. It is processes into one line
R&D of production methods equipped with radio- this production line meets
Multimodal- eliminate labor waste in frequency identification the different process
Perception-Based repetitive positions and (RFID) technology and requirements of products
Intelligent reduce training expenses uses the customer’s MES and changes the previous
Inspection caused by employee network to enable real- manual operating model.Equipment turnover; The project has time monitoring tracking It enables faster and more
Integrating
entered the mass and defect analysis. It also stable output supports the
Electrical 2. To steadily improve
production stage. features quick changeover production of different
Fingerprint Testing production line output capability and is products greatly reduces
and Image eliminate defects caused compatible with two labor demand and
Inspection in the by worker fatigue ensure products. The technical ultimately achieves lower
Outgoing Quality product yield and enable indicators achievable labor input stable output
Control (OQC) rapid identification and under this project are as higher yield and lower
Process assessment of product follows: costs thereby improving
defect risks;
industry efficiency.
1. Flexible production on
3. To realize real-time the production line
monitoring and analysis of compatible with two
production progress products at the same time
equipment status and with only a program switch
quality data providing on the computer required;
data support for decision-
making. 2. Assembly accuracy:
±0.05 mm;
This line modification
involves the production of 3. Product assembly
two production lines with consistency: CPK > 1.33.a total of seven
workstations and 32 pieces
of equipment. The
capacity of each line will
increase by 50% compared
with the previous level.To address the functional Development targets: This project will affect the
innovation bottlenecks of Company in the following
smartwatches such as Hardware integration: The areas.insufficient data accuracy project aims to develop
and interaction miniaturized low-power At the technical level it
R&D of Facial smoothness as well as The project has facial recognition sensors will break through in core
Recognition for privacy and data security entered the small- and chips customize a technologies such as
Smart Wearable challenges including the scale pilot stage. high-resolution lens miniaturized hardware
Devices inability of traditional module adapted to the integration multimodal
password unlocking compact space of algorithm optimization
methods to balance smartwatches optimize and end-to-end data
convenience and security circuit design and thermal security accumulate
this project is designed to management technology experience in micro-
develop a smart wearable achieve seamless electromechanical system
51Luxshare Precision Industry Co. Ltd. 2025 Annual Report
device integrated with integration with the (MEMS) deep learning
facial recognition. existing system and and privacy protection
Leveraging the ensure stability under high- form differentiated
uniqueness convenience load operation. technical barriers and
and high security of the enhance the Company’s
facial recognition Algorithm performance: technical influence in the
technology the project The project aims to smart wearable field.aims to expand the optimize algorithms based
functional boundaries of on deep learning At the product level it will
smartwatches through frameworks integrate enrich the functional
miniaturized hardware multimodal data and dimensions of
integration algorithm develop adaptive models smartwatches upgrade
optimization and data for complex environments them from basic tools to
security protection. It to enable high-precision multifunctional smart
replaces traditional real-time facial recognition hubs solve pain points in
unlocking methods that meets the rapid- traditional interaction
improves user experience response requirements of improve product accuracy
and data security secures scenarios such as smoothness and security
a leading technological unlocking and payment. and strengthen product
position in the smart differentiation.Functional
wearable sector and
implementation: The At the market level with
aligns with market and
project aims to enable facial recognition as a core
technology development
multi-scenario selling point the project
trends.applications including will meet consumers’
identity verification growing demand for
secure payment health personalization and
management (including security attract a broad
mental state assessment) user base expand the
personalized services AR market share and support
interaction and shooting product premium pricing.optimization thereby
achieving instant At the brand level it will
unlocking when the user establish a brand image
raises their hand and centered on technological
enabling accurate innovation and user
switching of personalized privacy protection
settings in multi-user enhance user trust and
scenarios. reputation consolidate the
Company’s industry
Data security: The project position in smart
aims to build an end-to-end wearables and lead
data security protection functional innovation in
system using encryption the industry.technologies such as
Advanced Encryption At the business level the
Standard (AES) and technology can be
Rivest-Shamir-Adleman transferred to other smart
(RSA) as well as terminals such as smart
differential privacy and bands and AR devices
homomorphic encryption expanding the Company’s
solutions together with business layout. The
strict access control to accumulated scenario-
ensure the security of facial based application
and personal data during experience will also lay a
transmission and storage. foundation for future
business expansion in
health management smart
interaction and other
fields.R&D of a Deep- To address pain points in Development targets: This project will affect the
Learning-Optimized existing PD symptom Company in the following The project has
Wearable Daily Feature extraction: The assessment including areas. entered the mass
Monitoring System project aims to select 53 strong subjectivity the production stage.for Parkinson’s handcrafted time-domain At the technical level it inability of brief outpatient
Disease (PD) features and 59 will break through in core evaluations to reflect handcrafted frequency- technologies such as
52Luxshare Precision Industry Co. Ltd. 2025 Annual Report
patients’ real symptoms at domain features and use tremor feature extraction
home and the difficulty of the Least Absolute in wearable scenarios and
existing wearable Shrinkage and Selection lightweight deep learning
detection devices in Operator (LASSO) model design accumulate
accurately distinguishing algorithm to remove experience in data
tremors from daily invalid features such as processing and model
activities this project aims acceleration features on the optimization for medical-
to develop a wearable Y-axis. The project will grade wearable devices
daily monitoring system then use t-distributed form differentiated
based on deep learning. By Stochastic Neighbor technical barriers and
optimizing sensor data Embedding (t-SNE) enhance the Company’s
feature extraction and visualization to verify that technical influence in
machine learning models the selected handcrafted medical and healthcare
the system enables precise features show clearer class wearables.and continuous detection boundaries than data-
of action tremors in PD driven features extracted At the product level it will
provides objective data by the Convolutional expand the medical
support for precise clinical Neural Network (CNN). application boundaries of
medication and dynamic smart wearable devices
disease monitoring and Model performance: The extending from consumer-
fills the technical gap in project aims to build four grade health monitoring to
quantitative tremor supervised learning clinical auxiliary
monitoring for PD in models namely a linear monitoring for
home settings. model k-Nearest neurological diseases
Neighbors (KNN) Support enriching the medical-
Vector Machine (SVM) grade wearable product
and CNN. All models are portfolio and improving
expected to achieve an F1 product added value and
score of at least 90%. core competitiveness.Among them the SVM
model is expected to At the market level it will
achieve both accuracy and enable the Company to
an F1 score above 92% enter the high-potential
while the CNN model is PD monitoring market
expected to reach an F1 covering diverse customer
score of 92.21% groups such as patients
significantly and medical institutions
outperforming the existing and creating a
TremorSense model differentiated technology-
(which has an accuracy of based selling point. The
83.60%). technology can also be
transferred to monitoring
Device adaptation: The scenarios for other
system will be adapted to a neurological diseases
UG sensor band integrated such as epilepsy and
with a three-axis Alzheimer’s disease
accelerometer and opening up new profit
gyroscope with a growth drivers.sampling rate of 100 Hz
and data transmission At the brand level it will
stability of at least 98%. A demonstrate the
lightweight CNN model Company’s technical
with only one strength and social
convolutional layer will responsibility in
be adapted to meet the real- healthcare build a brandtime detection image of “precisionrequirements of wearable reliability and clinicaldevices. compatibility” enhance
recognition in the medical
Data support: The project industry and user trust
aims to reuse a clinical and consolidate the
dataset from 30 patients Company’s
with PD including 4000 comprehensive position in
tremor instances and 4000 smart wearables.non-tremor activities with
a total of 6.144 million data At the industry level it
points. Medical staff will will promote the
annotate ground-truth data transformation of PD
53Luxshare Precision Industry Co. Ltd. 2025 Annual Report
using camera footage with monitoring from
annotation accuracy of at subjective assessment to
least 99%. objective quantification
reduce burdens on doctors
and patients provide
technical support for the
upgrading of diagnosis
and treatment models and
establish an R&D
paradigm for medical-
grade wearable devices
creating both significant
social value and industry
demonstration effects.Development targets: This project will affect the
Company in the following
Technology adaptation: areas.The project aims to
overcome two core At the technical level it
challenges including will enable the Company
To address the pain points
interference from to master core
that traditional
ultrasound waves with the technologies such as
cardiovascular disease
electrical components of wearable adaptation of
diagnostic methods such
wearable devices and the PAPG technology and
as angiography and
high power consumption quantitative vascular
computed tomography
of PAPG technology. It health monitoring form
(CT) cannot quantify
will achieve stable low- differentiated technical
vascular stiffness at an
power integration of barriers accumulate
early stage and that
medical-grade PAPG experience in medical-
existing wearable devices
technology into watch- grade wearable device
based on
type wearable devices R&D and enhance its
photoplethysmography
replacing traditional PPG technical influence in
(PPG) technology cannot
technology. health-monitoring
directly monitor vascular wearables.health this project aims to Monitoring functions: The
develop a wearable device project aims to develop At the product level it will
integrated with three core capabilities enrich the deep health
photoacoustic
R&D of Wearable including precise detection
monitoring functions of
plethysmography (PAPG) The project has
Devices for of subcutaneous blood
wearable devices
technology. By combining entered the pilot
Monitoring vessels quantitative
upgrading them from
optical and acoustic production stage.Vascular Health assessment of vascular
basic physiological
technologies the device elasticity and stiffness indicator monitoring to
will enable precise based on pulse waveform core vascular health
quantitative monitoring of delay time and vascular monitoring creating
vascular diameter diameter measurement and differentiated product
elasticity and stiffness. It ultrasound image analysis advantages and improving
will provide early through near-infrared light product added value and
warnings of vascular pulses combined with user stickiness.health risks for the general algorithms ensuring
population offer medical At the market level it will accurate and reliable
reference for evaluating help the Company enter monitoring data.the effectiveness of the high-potential vascular
medication control in Data application: The health monitoring market
patients with chronic project aims to enable real- covering diverse customer
cardiovascular diseases time recording and long- groups such as the general
and fill the technical gap in term tracking of vascular healthy population people
direct vascular health health data capture with unhealthy lifestyle
monitoring by wearable dynamic changes in habits and patients with
devices. vascular indicators and chronic cardiovascular
build a standardized diseases. The technology
vascular health database can also be extended to
that collects vascular other medical-grade
feature data from different wearable devices opening
populations and specific up new profit growth
disease groups to support drivers.
54Luxshare Precision Industry Co. Ltd. 2025 Annual Report
algorithm optimization. At the brand level it will
demonstrate the
Scenario adaptation: The Company’s technical
project aims to complete strength and social
real-world testing and responsibility in the
calibration across multiple integration of healthcare
scenarios to ensure device and consumer electronics
stability and comfort in build a brand image ofdaily wear meeting the “precise monitoring anddual needs of health risk clinical compatibility”
alerts for general users and enhance recognition in the
clinical medical reference. medical industry and user
trust and consolidate the
Company’s overall
position in smart
wearables.At the industry level it
will promote the shift of
vascular health monitoring
from hospital-based
professional diagnosis to
daily home monitoring
support early intervention
for cardiovascular
diseases and reduce the
medical burden. The
resulting technical
solution and data system
will provide an industry
reference for the medical
upgrading of wearable
devices.To address the pain points Development targets:
that traditional hazardous This project will affect the
gas monitoring equipment Sensor adaptation: The Company in the following
is bulky and lacks project aims to develop or areas.portability making it select high-precision At the technical level it
difficult to meet real-time miniaturized low-power will break through in core
monitoring needs in hazardous gas sensors for technologies such as
household and personal multiple gas types. miniaturized gas sensing
scenarios and that Dedicated sensor types for wearable devices low-
hazardous gases such as will be matched to power integration and IoT
carbon monoxide (CO) different gases and linkage accumulate
and hydrogen sulfide resistance to experience in hazardous
(H?S) are colorless and environmental interference gas monitoring and
odorless and therefore such as temperature intelligent analysis form
R&D of Wearable easily overlooked humidity and dust will be differentiated technical
Devices for potentially causing
The project has
enhanced to ensure data
poisoning explosions and entered the mass
barriers and enhance the
Hazardous Gas accuracy.production stage. Company’s technical
Monitoring other safety risks this
Monitoring and analysis: influence in safety-project aims to develop a
wearable device integrated The project aims to achieve
protection wearables.with hazardous gas real-time concentration At the product level it will
monitoring functions. monitoring of common expand the safety
Through miniaturized hazardous gases including protection functions of
sensors intelligent data CO H?S and methane smart wearable devices
analysis and IoT linkage (CH?). Machine learning from health monitoring to
technology the device algorithms will be used to gas safety monitoring
will enable accurate real- quickly analyze and enrich the product
time monitoring and determine dangerous portfolio create dual
timely alerts for hazardous concentrations reducing layers of core
gases fill the gap in gas false alarms and missed competitiveness in health
safety monitoring for alarms and ensuring timely and safety and improve
personal scenarios and response. the added value and user
provide comprehensive
55Luxshare Precision Industry Co. Ltd. 2025 Annual Report
and intelligent gas safety Data transmission and stickiness of the product.protection for industrial linkage: The project aims
workers household users to integrate wireless At the market level it will
and others. communication help the Company enter
technologies such as the high-potential personal
Bluetooth and Wi-Fi to gas safety monitoring
transmit monitoring data to market covering diverse
terminals and the cloud in user groups in industrial
real time. It also aims to household outdoor and
support intelligent linkage other scenarios and create
with ventilation systems a differentiated
alarms fire protection technology-based selling
systems and other point. The technology can
systems forming a closed also be transferred toloop of “monitoring portable safety deviceswarning and handling”. smart home products and
other fields opening up
User interaction and new profit growth drivers.battery life: The project
aims to provide multi-form At the brand level it will
alerts through sound demonstrate the
vibration and visual Company’s technical
feedback. Power strength and social
management will be responsibility in public
optimized and renewable safety establish a brandenergy utilization will be image of “safetyexplored to extend battery reliability and scenariolife and meet the needs of adaptability” enhance
long-term wear. industry recognition and
user trust and consolidate
Scenario adaptation and the Company’s overall
compliance: The product position in smart
under this project will be wearables.adapted to multiple
scenarios including high- At the social and industry
risk industrial operations level it will provide a
and daily household use. It lightweight and intelligent
will comply with relevant solution for hazardous gas
national safety standards protection effectively
and pass rigorous testing reduce the incidence of
and certification to ensure safety accidents and
system safety and create significant social
reliability. value. It will also promote
the upgrade of wearable
devices from consumer-
grade health monitoring to
professional-grade safety
protection leading the
direction of functional
expansion in the industry.This project aims to Hardware: The project This project will affect the
address three core pain aims to develop and Company in the following
points in existing produce a miniaturized areas.fingerprint recognition module with a thickness of
technology for wearable no more than 1.2 mm and a At the technical level it
devices namely difficult size of 15 mm × 15 mm. will form an independent
R&D of Fingerprint hardware integration poor The project has The module will be core technology system
Recognition recognition robustness entered the mass adaptable to multiple and technical barriers for
Technology for and excessive power production stage. positions on wearable wearable fingerprint
Wearable Devices consumption. It will adapt devices resistant to drops recognition enhance the
to the limited internal and high and low Company’s R&D
space of wearable devices temperatures and capabilities in smart
improve recognition compliant with reliability hardware and biometrics
stability in complex requirements. promote extended
scenarios and balance the innovation of related
need for secure Performance: The technologies and
56Luxshare Precision Industry Co. Ltd. 2025 Annual Report
authentication with device fingerprint recognition strengthen the capabilities
battery life. false acceptance rate of the R&D team.
(FAR) will be no more
The project will build a than 0.0001% and the At the market level it will
dual authentication system false rejection rate (FRR) fill the gap in fingerprintof “fingerprint recognition will be no more than 0.5%. recognition for mid-range+ health data” to prevent The recognition rate in wearable devices create a
risks such as fingerprint harsh scenarios involving new revenue growth
spoofing and unauthorized sweat water stains and driver improve the core
payment improve the similar conditions will be competitiveness of the
security level of wearable at least 98% single supply chain through
devices and expand high- recognition time will be no synergy with existing
security application more than 300 ms and business and develop
scenarios such as medical 30% partial fingerprint high-value-added
data encryption and recognition will be application scenarios such
medical insurance supported. as medical care and
payment authorization. financial payment.Power consumption:
It will fill the technical gap Standby power At the industry and brand
in fingerprint recognition consumption will be no level it will strengthen the
for mid-range smart more than 5 μA and single Company’s presence
wearable devices capture recognition energy across the smart wearable
growth opportunities in consumption will be no industry chain enhance its
the global smart wearable more than 100 μJ industry chain position
device market and representing a reduction of build a technology-driven
enhance the Company’s more than 60% compared brand image increase its
technical competitiveness with existing solutions and brand influence in the
and market share in core ensuring device battery life industry and lay a
components for wearable of at least seven days. technical foundation for
devices. the development of high-
Security: The project aims end wearable products.It will also break through to enable dual
in core technologies authentication using At the operational level it
related to fingerprint fingerprint and heart rate will enrich the product
recognition in wearable provide 100% resistance to portfolio broaden revenue
devices form independent fingerprint spoofing channels create a
technical barriers and encrypt data with competitive market
promote the Company’s Advanced Encryption advantage through
technology upgrading and Standard 256-bit technological
achievement encryption (AES-256) and differentiation increase
commercialization in meet the financial-grade market share and
electronic information and security requirements of profitability and lay a
smart wearable hardware the China financial product and technology
R&D. integrated circuit card foundation for overseas
specifications 3.0 (PBOC market expansion.
3.0)
Implementation: The
project aims to break
through in four core
technologies complete
adaptation between the
module and mainstream
wearable systems output
mass production process
documents and realize the
industrial
commercialization of the
technological results.To address the inaccuracy Development targets: At the technical level the
R&D of a Non- of traditional hydration project will break through
invasive Wearable decisions based on The project has Core monitoring functions: in core technologies such
Device with Sweat subjective judgment such entered the mass The project aims to enable as multi-sensor fusion
Measurement as drinking only when you production stage. dual-range sweat rate including capacitive
Functions feel thirsty and the pain measurement including optical and bioimpedance
points in medical overall average sweat rate sensing and
57Luxshare Precision Industry Co. Ltd. 2025 Annual Report
hydration assessment and instantaneous sweat environmental anti-
where blood and urine rate and output body fluid interference structural
sampling is slow costly loss data. By combining design. It will accumulate
and inconvenient for sweat conductivity and experience in non-
continuous monitoring optical sensing the device invasive physiological
this project aims to will assess hydration levels monitoring form
develop a non-invasive from multiple dimensions differentiated technical
wearable device with determine electrolyte barriers and enhance the
sweat measurement concentration based on Company’s technical
functions. By integrating conductivity and calculate influence in health
multi-sensor technologies body water content wearable devices.the device will enable real- indicators.time and accurate At the product level it will
monitoring of sweat rate Measurement enrich the health
and hydration status performance: A single monitoring dimensions of
provide users with measurement will take less smart wearable products
personalized fluid- than five seconds and data extending from basic
replacement references accuracy will meet physiological indicators to
help prevent dehydration statistical standards with p precise hydration
risks and fill the technical ≤ 0.05. The system will be monitoring thereby
gap in non-invasive able to effectively correlate improving the core
hydration monitoring for hydration status with competitiveness and
daily health management cognitive performance. added value of the product
meeting users’ demand for and meeting diversified
Anti-interference design:
science-based health user needs for health
The project aims to
management. management.optimize the sensor
electrode layout through a At the market level the
cavity structure to reduce project will help the
interference from ambient Company enter the high-
temperature and humidity potential hydration
and ensure measurement monitoring market
stability in high-sweat covering diverse user
scenarios. groups such as athletes
outdoor workers and
Non-invasiveness and older adults and create a
safety: The device will use differentiated technology-
a tiny alternating current based selling point. The
far below the ISO 60601 technology can also be
standard to enable non- transferred to medical
invasive monitoring assistive devices sports
ensure user safety and equipment and other
support multiple scenarios fields opening up new
such as exercise and daily profit growth drivers.health management.At the brand level it will
demonstrate the
Company’s innovation
capabilities and human-
centered care in health
technology build a brandimage of “precisemonitoring safety andconvenience” enhance
user trust and industry
recognition and
consolidate the
Company’s overall
position in smart
wearables.At the industry level it
will promote the upgrade
of wearable health
monitoring from single-
indicator monitoring to
multidimensional and
refined monitoring
58Luxshare Precision Industry Co. Ltd. 2025 Annual Report
overcome the limitations
of traditional hydration
measurement and provide
the industry with a non-
invasive continuous
monitoring solution with
significant social value
and industry
demonstration effects.The project will
significantly enhance the
Company’s technology
R&D strength and
independent innovation
capabilities improve its
smart terminal product
Through innovations in
portfolio and expand
heat dissipation structural
market and application
design and module
scenarios. By breaking
integration this project
through in key
aims to effectively balance
technologies forming
temperature control
R&D of High- core intellectual property
stability quiet operation
Performance Smart enhancing product
and portability ensuring a
Terminals Based on This project aims to differentiation and brand
comfortable user
High-Thermal- develop a new product The project has influence and driving
experience for ultrathin
Conductivity break through in key entered the mass collaborative development
laptops under high-
Graphite and Dual- technologies and enhance production stage. across the upstream and
performance conditions. It
Stage Electrostatic product competitiveness. downstream industry
also aims to deliver
Discharge (ESD) chains the project will
excellent performance andProtection help build a “hardware +user experience andsoftware + services”
become a benchmark for
ecosystem. It also aligns
the Company’s
with the industry trend
technological innovation
toward intelligence and
in thin lightweight high-
will provide important
performance laptops.support for the Company’s
expansion into emerging
business and high-quality
sustainable development
with significant strategic
importance and long-term
value.This project has
established one Intel ORS
flagship validation By breaking through in
platform which can be key technologies such as
directly converted into the graphene composite heat
mass production dissipation multi-
introduction of one to two platform compatibility and
R&D of Multi- flagship thin and adaptation and high-
Platform High- This project aims to lightweight laptop models. performance low-power
Performance Smart develop a new product The project has The complete device coordination the project
Terminals Based on break through in key entered the mass supports a thickness of less will effectively address
Graphene technologies and enhance production stage. than 12.9 mm and a weight thermal bottlenecks in
Composite Heat product competitiveness. of less than 1.1 kg offers high-performance
Dissipation multi-platform terminals and cross-
compatibility and enables platform adaptation
sustained performance challenges significantly
release at a 30–45 W improving product
thermal design power performance stability and
(TDP). With an 80 mm user experience.Minimal Y motherboard
design LPDDR5X 9600
MT/s memory a 70 Wh
59Luxshare Precision Industry Co. Ltd. 2025 Annual Report
ultra-thin battery 30–45 W
heat dissipation capability
and ultra-fast delivery
from DDS to Working
Sample within six weeks
the project has strong
capability for deep
collaboration with Intel
during the ES1 early
engagement stage.By breaking through in
key core technologies
such as ultra-thin VC
design intelligent
This project aims to
dynamic thermal
develop a thin and
management efficient
lightweight laptop with a
heat dissipation and low-
thickness of 11.8 mm and
noise control the project
support for 15–28 W TDP
will effectively address
meeting customer and
common industry
market demand for new
challenges in balancing
high-performance thin and
high performance with
lightweight laptops. It also
thinness long battery life
aims to provide a solution
and low noise
R&D of High- that combines portability
significantly improving
Performance Thin with stable workload
This project aims to product competitiveness
and Lightweight The project has performance. Through this
develop a new product and and user experience. The
Laptops Based on entered the pilot project the Company will
enhance product project will help
Ultra-Thin VCs and production stage. accumulate experience in
competitiveness. strengthen the Company’s
Dynamic Thermal ultra-thin structural design
independent innovation
Management thermal module design
capabilities and
and low-power system
technology R&D level
integration providing a
form proprietary
modular and platform-
intellectual property and
based foundation for more
technical barriers
future thin and lightweight
improve the Company’s
models and reducing
high-end smart terminal
reliance on external
product portfolio broaden
suppliers for heat
market opportunities
dissipation and structural
across consumer
components.business and industry
scenarios and enhance
brand influence and
market share.This project involves the As smartphone form
development design and factors become
production of ultra-thin increasingly diversified
linear motors with a multi- market demand for strong
pole core ultra-strong haptic feedback and
haptic feedback and a highly responsive linear
This project aims to precision sandwich motors is expected to
R&D of Ultra-High-
develop ultra-high-haptic- structure. Compared with continue rising. Such
Haptic-Feedback The project has
feedback sandwich- the previous-generation motors will significantly
Sandwich-Structure entered the R&D
structure linear motors and product the new- enhance tactile
Linear Motors validation and
improve product generation sandwich experiences that bridge
Based on Multi-Pole testing stage.performance and market haptic motor uses a multi- virtual and physical
Core Design
competitiveness. pole core significantly interactions. Foldable
enhancing the motor’s core smartphones in particular
driving force. This enables can support more diverse
ultra-fast start and stop use scenarios. Against the
performance and delivers backdrop of strong
instant haptic feedback purchasing enthusiasm
during typing and gaming among young consumers
allowing vibration to start for new technologies a
60Luxshare Precision Industry Co. Ltd. 2025 Annual Report
immediately when pressed new wave of device
and stop immediately upgrades is expected. By
when released. keeping pace with the
development of foldable
smartphones and using
highly precise automated
mass production to
support ultra-thin motors
with strong haptic
feedback the Company
can control costs at the
level of ordinary linear
motors creating a strong
competitive advantage
over conventional linear
motors and offering
substantial market share
potential.As smartphones move
To address issues in the toward ultra-thin bodies
previous generation of flat- below 7 mm the limited
coil motors such as weak internal space makes it
haptic feedback and slow increasingly difficult to
startup this project uses accommodate
N56SH neodymium-iron- conventional motors.This project aims to
boron magnets removes Compared with
develop a new low-profile
R&D of a New Low- The project has the coil spacer increases conventional solutions
flat-coil motor and
Profile Flat-Coil entered the small- the number of winding the low-profile motor is
improve product
Motor scale pilot stage. turns and optimizes the smaller in size freeing up
performance and market
magnetic circuit design. space in the device for a
competitiveness.These measures aim to larger battery a more
significantly enhance the efficient heat dissipation
motor’s core driving force system or new sensors
enabling faster start-stop and helping terminal
performance and more manufacturers
precise vibration feedback. differentiate their
products.The structure enables one-
handed operation allowing
The project overcomes the
users to quickly launch the
limitations of traditional
camera and adjust
physical buttons with
parameters through the
single functions. Through
side button. It supports
This project aims to a sapphire glass touch
multidimensional
develop a three- layer and multilayer
R&D of a Three- The project has interaction through touch
dimensional touch side flexible circuit design it
Dimensional Touch entered the EVT sliding and pressure
button structure based on enables integrated
Side Button stage for the sensing for different
sapphire glass improving interaction functions such
Structure Based on automated functions such as slide-to-
product innovation as slide-to-focus pressure
Sapphire Glass production line. focus and double-tap filter
capabilities and market sensing and parameter
switching. It provides a
competitiveness. adjustment leading the
modular side camera
industry toward higher
button solution for high-
precision and
end smartphones
multifunctional
improving the convenience
development.and professionalism of
smartphone photography.Process
This process technology is R&D has been This project aims to This project will help
Development for
intended to further completed and upgrade the assembly enhance the Company’s
Product Assembly
improve product the relevant process for new products technological innovation
Based on AI-Guided
dimensional yield and technology has which previously relied on capabilities and product
Automatic
appearance yield. been converted manual compensation to competitiveness while
Alignment into technological machine-based automatic strengthening its
61Luxshare Precision Industry Co. Ltd. 2025 Annual Report
achievements. correction and sustainable development
compensation. In the capabilities and market
project Product A and expansion capabilities.Product B run
synchronously to the
assembly station. CCD
systems identify the
positions of Product A and
Product B separately and
visual guidance is used to
automatically calculate the
deviation between the
assembly position and the
re-inspection position.After three repeated
samples are taken and
averaged the result is used
as a fixed compensation
value and automatically
output to the software
system. After calibration
the machine can
automatically perform
correction and
compensation thereby
saving labor input and
improving the yield and
efficiency of the
production equipment.Through improvements
This project will help
and innovations in
enhance the Company’s
Development of a This project aims to materials heat treatment
technological innovation
Metal Injection develop an MIM process shaping and post-
The project is capabilities and product
Molding (MIM) that can meet the processing the project
currently in the competitiveness while
Process for High- requirements of ultra-thin aims to meet the
R&D stage. strengthening its
Precision Ultra-Thin structures and high requirements of multiple
sustainable development
Parts dimensional accuracy. complex application
capabilities and market
scenarios in 3C consumer
expansion capabilities.electronics.This project mainly
focuses on the
development of a small-
sized high-efficiency
brushless motor electronic
This project will help
oil pump product and its
enhance the Company’s
This project aims to molding process including
technological innovation
develop electronic oil optimized product
Small-Sized High- The project has capabilities and product
pump products and related structure design
Efficiency Brushless entered the mass competitiveness while
manufacturing innovation and
Motor production stage. strengthening its
technologies to achieve optimization of production
sustainable development
product miniaturization. and assembly processes
capabilities and market
and development of a fully
expansion capabilities.automated production line
in order to ensure product
stability and improve
production efficiency and
product quality.Development of By using the viscoelastic This project will help
This project aims to The project has
Front Camera properties of damping gel enhance the Company’s
develop high-damping entered the mass
VCMs Based on the project aims to increase technological innovation
small-size VCMs. production stage.Damping Gel the system damping of capabilities and product
front camera modules competitiveness while
62Luxshare Precision Industry Co. Ltd. 2025 Annual Report
suppress vibration strengthening its
generated during the sustainable development
operation of the focusing capabilities and market
motor and improve the expansion capabilities.user’s photography
experience.The project has completed
the mass production
development of ball-
The project will help the
bearing VCM actuators.Company establish
Through an ultra-precision
technical advantages in
automated production line
ultra-precision optical
it aims to enable capacity
motion control and
scaling while controlling
R&&D of Ball- strengthen the market
This project aims to The project has process costs. It also aims
Bearing VCMs competitiveness of its
develop ball-bearing voice entered the mass to ensure that the product’s
Capable of Three- optical component
coil motion motors. production stage. multi-axis micro-
Axis Spatial Motion products. It is expected to
displacement control
generate higher product
accuracy and motion
premiums and profit
stability meet the technical
margins in the mid- to
indicators of high-end
high-end optical module
optical modules providing
market.a highly reliable motion
control solution for ultra-
precision optical systems.The project aims to achieve
the mass production
development of Sensor-
Shift OIS camera motors
Development of
increase capacity through The project will establish a
High-Precision This project is intended to
The project has large-scale automated technological leadership
Camera Motors for develop high-precision
entered the mass production reduce advantage in OIM and
Sensor-Shift Optical camera motors for sensor-
production stage. manufacturing costs and strengthen product
Image Stabilization shift OIS.ensure product quality and competitiveness.(OIS)
stability thereby providing
customers with high-
quality image stabilization
solutions.R&D personnel of the Company
2025 2024 Change
Number of R&D personnel 34357 22583 52.14%
Proportion of R&D personnel 8.25% 8.12% 0.13%
By educational background
Bachelor’s degree 12820 8344 53.64%
Master’s degree 2198 505 335.25%
Others 19339 13734 40.81%
By age group
Under 30 13111 7753 69.11%
63Luxshare Precision Industry Co. Ltd. 2025 Annual Report
30–40164191195737.32%
Over 40 4827 2873 68.01%
R&D expenses of the Company
2025 2024 Change
R&D investment (RMB) 11428041090.59 8555957431.46 33.57%
R&D investment as a percentage of
3.44%3.18%0.26%
operating revenue
Capitalized R&D investment(RMB) 90951325.42 0.00
Capitalized R&D investment as a
0.80%0.00%0.80%
percentage of R&D investment
Reasons for and impact of significant changes in the composition of the Company’s R&D personnel
□ Applicable □Not applicable
Reasons for significant changes in the ratio of total R&D expenses to operating revenue compared with the previous year
□ Applicable □Not applicable
Reasons for and reasonableness of significant changes in the capitalization rate of R&D expenses
□Applicable □ Not applicable
The capitalized R&D expenses in 2025 amounted to RMB90951325.42 mainly due to development-stage investment in the ODM
business added to the scope of consolidation.
5. Cash flows
Unit: RMB
Item 2025 2024 YoY change
Subtotal of cash inflows from operating activities 336148439573.92 274007921921.29 22.68%
Subtotal of cash outflows from operating activities 318823110039.95 246891013712.76 29.14%
Net cash flows from operating activities 17325329533.97 27116908208.53 -36.11%
Subtotal of cash inflows from investing activities 90784876817.89 61257157625.69 48.20%
Subtotal of cash outflows from investing activities 114991473376.44 96913229574.80 18.65%
Net cash flows from investing activities -24206596558.55 -35656071949.11 32.11%
Subtotal of cash inflows from financing activities 136207891436.51 100873837691.61 35.03%
Subtotal of cash outflows from financing activities 116918247641.22 74983395625.15 55.93%
Net cash flows from financing activities 19289643795.29 25890442066.46 -25.50%
64Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Net increase in cash and cash equivalents 12073509944.45 17582950685.73 -31.33%
Explanation of the main factors contributing to significant YoY changes in relevant data
□Applicable □ Not applicable
1. Cash inflows and outflows from operating activities increased in line with sales performance growth and were also driven by the
expanded scope of consolidation.
2. In addition to payments for investments in subsidiaries the increase in both cash inflows and outflows from investing activities was
mainly attributable to purchases and redemptions of wealth management products.
3. The increase in net cash flows from financing activities was mainly due to financing activities carried out to accommodate the growth
of operating results and investment needs.Explanation of significant differences between net cash flows from operating activities during the Reporting Period and net profit for
the year
□ Applicable □Not applicable
V. Analysis of Non-Principal Business
□Applicable □ Not applicable
Unit: RMB
As % of Whether
Amount Reason
total profit recurring
Income from purchases of financial assets and
wealth management products and investment
Investment income 6763977320.93 34.60% No
income recognized from associates under the
equity method
Unrealized investment income from financial
Gains or losses from
-618594078.70 -3.16% assets measured at fair value through profit or No
changes in fair value
loss for the current period
Write-downs of inventories fixed assets and
Asset impairment -1544769697.36 -7.90% No
long-term investments
Mainly negative goodwill arising from newly
acquired subsidiaries and income from
Non-operating revenue 575661994.74 2.94% No
breach-of-contract compensation or
indemnities
Mainly payments for breach-of-contract
Non-operating expenses 181906994.81 0.93% compensation or indemnities losses on asset No
retirement and external donations
Gains on disposal of assets 44604290.06 0.23% Disposal and sale of production equipment No
Other income 912283136.42 4.67% Government grants No
Loss provision and reversal for accounts
Credit impairment losses -64875880.48 -0.33% No
receivable and other receivables
VI. Analysis of Assets and Liabilities
1. Significant changes in asset composition
Unit: RMB
65Luxshare Precision Industry Co. Ltd. 2025 Annual Report
End of 2025 Beginning of 2025
Change
As % of As % of Explanation of material changes (%)
Amount total Amount total
assets assets
Increased cash reserves for safety days and
Cash and cash 61159176 48359655
19.95% 21.61% -1.66% to support operating and investment
equivalents 580.35 992.93
funding needs
Accounts 48438796 32561098 Increase in operating results and expanded
15.80%14.55%1.25%
receivable 114.12 916.58 scope of consolidation
11383311
Contract assets 0.37% 0.00 0.00% 0.37% Expanded scope of consolidation
89.32
42332782 31702675 Increase in operating results and expanded
Inventories 13.81% 14.16% -0.35%
449.47 549.03 scope of consolidation
Investment 98487570. 35664816.
0.03% 0.02% 0.01% Property leasing
properties 14 93
Long-term Increase in investment income from
1200969674882959
equity 3.92% 3.35% 0.57% associates recognized under the equity
666.8534.01
investments method
65901073 48231236 Expansion of operating scale and
Fixed assets 21.50% 21.55% -0.05%
710.76 929.70 expanded scope of consolidation
Construction in 42902609 53791861 Equipment and buildings not yet accepted
1.40%2.40%-1.00%
progress 98.33 27.71 mainly in Vietnam and Changshu
Right-of-use 27619738 858486974 Mainly due to an increase in leased
0.90%0.38%0.52%
assets 67.39 .92 buildings
Supplemented working capital in response
Short-term 60137739 35313128
19.62% 15.78% 3.84% to increased scale and expanded scope of
borrowings 468.49 924.26
consolidation
Contract 931291965 262507706
0.30% 0.12% 0.18% Advance receipts from customers
liabilities .17 .68
Long-term 16441982 19619741 Supplemented funds required for
5.36%8.77%-3.41%
borrowings 591.33 634.77 investment in response to scale expansion
23526929 727982667 Mainly due to an increase in leased
Lease liabilities 0.77% 0.33% 0.44%
73.58 .37 buildings
Investments such as forward foreign
Financial assets 28420651 14031108
0.93% 0.63% 0.30% exchange and wealth management
held for trading 17.62 10.03
products
14406907 389200419 Prepayments for materials utilities and
Prepayments 0.47% 0.17% 0.30%
83.69 .67 customs deposits
Other 19093088 0.62% 916828350 0.41% 0.21% Mainly due to increases in deposits and
66Luxshare Precision Industry Co. Ltd. 2025 Annual Report
receivables 80.73 .56 guarantee deposits
Mainly due to increases in large-
Other current 25229093 17557463 denomination certificates of deposit with
8.23%7.84%0.39%
assets 285.58 274.05 maturities within one year and input VAT
to be deducted
Long-term
deferred and 10152190 770001330
0.33% 0.34% -0.01% Plant and workshop renovation expenses
prepaid 90.59 .59
expenses
Increase in deferred tax assets
corresponding to asset impairment
Deferred tax 25334311 817693476
0.83% 0.37% 0.46% provisions and deductible tax losses
assets 15.92 .29
available for carryforward due to the
expanded scope of consolidation
Mainly due to a decrease in the balance of
Other non- 15474762 16872400
5.05% 7.54% -2.49% large-denomination certificates of deposit
current assets 814.10 444.43
with maturities over one year
31020961 878335711 Increase in the Company’s bank deposit
Notes payable 1.01% 0.39% 0.62%
41.20 .94 and note payment business
Accounts 80910608 65087993 Increase in operating results and expanded
26.39%29.08%-2.69%
payable 802.62 138.64 scope of consolidation
23207289 502369570 Increase in unpaid expenses cash deposit
Other payables 0.76% 0.22% 0.54%
81.71 .62 and customer current accounts
Increase in short-term bonds payable
Other current 71509171 51688242
2.33% 2.31% 0.02% output VAT to be transferred and
liabilities 76.07 36.48
restructuring provisions
Deferred 11384205 649108632
0.37% 0.29% 0.08% Government grants related to assets
income 10.47 .44
Mainly due to temporary differences
Deferred tax 11441440 955820917
0.37% 0.43% -0.06% arising from accelerated depreciation of
liabilities 06.84 .13
fixed assets
Whether overseas assets account for a relatively high proportion
□ Applicable □Not applicable
2. Assets and liabilities measured at fair value
□Applicable □ Not applicable
Unit: RMB
Gains or
losses from Cumulative Impairment
Purchases Sales
changes in fair value provided
Opening during the during the Other Closing
Item fair value changes for the
balance current current changes balance
for the recognized current
period period
current in equity period
period
67Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Financial assets
1. Financial
assets held
for trading
130022817585985934089629211485027702000
excluding
099.406.57541.17445.8451.30
derivative
financial
assets
2.
Derivative 1028827 71945921. 17482863
financial 10.63 86 2.49
assets
4.
Investments
112765097614487.60478487.60251341.8224095.242945170.21946163
in other
72.049095465945.20
equity
instruments
5. Other
-
non-current 3931150 2236721.6 37637104.
3911121.8
financial 4.56 7 39
4
assets
Subtotal of
15551873415091460478487.934714509212307442945170.32021274
financial
386.634.4995604.30541.099423.38
assets
Accounts
11062841569557912632399
receivable
192.292.2784.56
financing
Total of the 2661471 34150914 60478487. 93471450 92123074 19990096 44653674
above items 578.92 4.49 95 604.30 541.09 3.21 07.94
-
Financial 1552789 46234090
30706198
liabilities 18.84 8.58
9.74
Other changes
1. Other changes in investments in other equity instruments were due to the disposal of equity interests.
2. Other changes under accounts receivable financing were due to an increase in the balance of notes pending discounting.
Whether the measurement attributes of the Company’s major assets changed significantly during the Reporting Period
□ Yes □No
3. Restrictions on asset rights as at the end of the Reporting Period
For details see “25. Assets with restricted ownership or use rights” under “VII. Notes to the Items of the Consolidated FinancialStatements” in “Section VIII Financial Report”.VII. Investment Overview
1. Overall information
□Applicable □ Not applicable
68Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Investment amount in the Reporting Investment amount in the same period of
Change (%)
Period (RMB) last year (RMB)
12334189496.013231970417.15281.63%
2. Significant equity investments made during the Reporting Period
□Applicable □ Not applicable
Unit: RMB
Investment
Progress as at the gains or Whether Disclosure
Investee Principal Investment Amount Shareholding Source of Investment Product Expected Disclosure
Partner balance sheet losses for involved in index (if
company business method invested percentage funds term type returns date (if any)
date the current litigation any)
period
From July to
September 2025
the equity
transfers of
Zhitong
Kunming
Zhitong
Shenzhen
Zhitong
Huangshi
Luxshare
Kunming Announceme
Luxshare nts No.Equity Consumer Consumer
Communications 2025-028
interests in electronics electronics
43894608 Self-owned (Hong Kong) and March 21 2025-060
certain systems Acquisition 100.00% N/A Long-term systems 0.00 0.00 Yes
64.79 funds Wingtech 2025 2025-086
subsidiaries integration integration
Indonesia were 2025-129
of Wingtech business business
closed and the and 2026-
transfer of 006
ownership of the
business asset
packages of
Wingtech Wuxi
and Wenxun
Wuxi was
completed.Wingtech India
has not yet been
transferred due to
existing disputes.Wiring Wiring
Closing was
harness 17310304 Self-owned harness July 11
LEONI AG Acquisition 50.10% N/A Long-term completed in July 0.00 0.00 No 2025-092
system 57.30 funds system 2025
2025.
business business
Automotive Automotiv Closing was
LEONI 28165738 Self-owned July 11
cable Acquisition 100.00% N/A Long-term e cable completed in July 0.00 0.00 No 2025-092
Kabel GmbH 03.56 funds 2025
business business 2025.
89370651
Total -- -- -- -- -- -- -- -- 0.00 0.00 -- -- --
25.65
3. Significant non-equity investments in progress during the Reporting Period
□ Applicable □Not applicable
4. Investment in financial assets
(1) Securities investments
□Applicable □ Not applicable
Unit: RMB
Gains or
Cumulative Gains or
losses from Purchases
Initial Accounting Opening fair value Sales during losses for Closing
Security Security changes in during the Accounting Source of
Abbreviation investment measurement carrying changes the current the carrying
type code fair value for current item funds
cost model amount recognized period Reporting amount
the current period
in equity Period
period
Investments
Domestic
Tony 22500000. Fair value 4132163 9847628.6 51169266. 7270918.3 in other Self-owned
and overseas 603595 0.00 0.00 0.00
Electronics 00 measurement 7.56 3 19 6 equity funds
stocks
instruments
69Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Investments
Domestic -
50000000. Fair value 2368000 23680000. in other Self-owned
and overseas 430755 SDMC 0.00 22372000. 0.00 0.00 0.00
00 measurement 0.00 00 equity funds
stocks 00
instruments
Investments
Domestic
21920138. Fair value 87008158. 73956935. 21920138. 87008158. 108928297 in other Self-owned
and overseas 688775 Insta360 0.00 0.00
94 measurement 86 03 94 86 .80 equity funds
stocks
instruments
Investments
Domestic
Fair value 2499300.0 2499300.0 17830827. 2499300.0 20330127. in other Self-owned
and overseas 02670.HK Yunji 0.00 0.00 0.00
measurement 3 3 31 3 34 equity funds
stocks
instruments
94420138.650016399355087.54084235.39750966.51169266.96778377.152938425
Total -- -- --
947.565206251925.14
(2) Derivative investments
□Applicable □ Not applicable
1) Derivative investments for hedging purposes during the Reporting Period
□Applicable □ Not applicable
Unit: RMB10000
Closing
investment
Gains or
Cumulative amount as %
losses from Purchased
Type of Initial fair value Sales during of the
Opening changes in during the Closing
derivative investment changes the Reporting Company’s
amount fair value for Reporting amount
investment amount recognized in Period net assets at
the current Period
equity the end of the
period
Reporting
Period
Forwards 0 0 35877.2 -48179.41 1559346.31 1559346.31 0 0.00%
Options 158144.8 158144.8 73944.67 -13276.71 1918018.94 1276637.74 799526 9.41%
Total 158144.8 158144.8 109821.87 -61456.12 3477365.25 2835984.05 799526 9.41%
Explanation of accounting policies and specific
accounting principles for hedging business during the
No significant changes.Reporting Period and whether there were significant
changes compared with the previous reporting period
During the Reporting Period from January 1 to December 31 the
Explanation of actual gains or losses during the Reporting Company carried out foreign exchange derivative transactions with
Period approximately RMB1098.2187 million recognized in profit or loss for the
current period.The Company conducts foreign exchange derivative transactions in
accordance with the principles of legality prudence safety and
effectiveness. It does not conduct speculative or arbitrage transactions. All
such transactions are based on normal production and operating activities
Explanation of hedging effects
with the aim of locking in target exchange rates and preventing adverse
impacts on the Company caused by significant exchange rate fluctuations.The Company conducts hedging business strictly in line with its foreign
currency holdings and the overall risk is controllable.Source of funds for derivative investments Self-owned funds
Risk analysis and control measures for derivative 1. The Company’s foreign exchange derivative transactions are conducted
70Luxshare Precision Industry Co. Ltd. 2025 Annual Report
positions during the Reporting Period (including but not for the purpose of locking in costs and avoiding and preventing exchange
limited to market risk liquidity risk credit risk rate and interest rate risks. Any risk-oriented speculative activity is
operational risk and legal risk) prohibited.
2. The Company has formulated a strict management system for financial
derivative transactions which clearly defines operating principles
approval authority internal operating procedures information segregation
measures internal risk control procedures and information disclosure
requirements in order to control transaction risks.
3. The Company will prudently review the terms of contracts entered into
with banks and strictly implement its risk management system to prevent
legal risks.
4. The Company’s Finance Department will continuously monitor the
open market prices or changes in fair value of foreign exchange
derivatives promptly assess changes in risk exposure from foreign
exchange derivative transactions and report regularly to the Company’s
management. Any abnormal situation will be reported in a timely manner
with risk alerts issued and emergency measures implemented.
5. To prevent the delayed delivery of forward foreign exchange
settlement the Company attaches great importance to the management of
accounts receivable and has established safety management measures to
avoid overdue accounts receivable.
6. The Company’s Internal Audit Department supervises and inspects the
compliance of the decision-making management and execution of foreign
exchange derivative transactions.Changes in market prices or fair value of derivative Changes in the fair value of foreign exchange derivatives are calculated
products invested in during the Reporting Period and the based on the difference between the fair market price for the month in
specific methods assumptions and parameters used in the which the delivery date determined by the Company falls and the contract
fair value analysis of derivatives price.Litigation (if applicable) N/A
Disclosure date of the Board announcement approving
January 21 2025
derivative investments (if any)
2) Derivative investments for speculative purposes during the Reporting Period
□ Applicable □Not applicable
The Company had no derivative investments for speculative purposes during the Reporting Period.VIII. Sales of Major Assets and Equity Interests
1. Sale of major assets
□ Applicable □Not applicable
The Company did not sell any major assets during the Reporting Period.
2. Sale of major equity interests
□ Applicable □Not applicable
IX. Analysis of Major Subsidiaries and Non-controlling Equity Investees
□Applicable □ Not applicable
Major subsidiaries and non-controlling equity investees contributing more than 10% to the Company’s net profit
Unit: RMB
Company Principal Registered Operating Operating
Company name Total assets Net assets Net profit
type business capital revenue profit
71Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare
20728511225134913105143660426799593163688
Precision Subsidiary Note 1 USD5 million
6479.45338.740243.7864.716.05
Limited
ICT-Lanto USD153290 88593227 89613312 81288119 19990347 172392929
Subsidiary Note 2
Limited 323.00 544.81 00.69 722.69 64.10 3.13
Lanto
RMB2.32 33416086 74688892 27926828 613080155 612525107.Electronic Subsidiary Note 3
billion 787.34 72.71 645.06 .91 55
Limited
Luxcase
Precision
RMB62643 66217244 18504642 82826829 23287445 183521099
Technology Subsidiary Note 4
12296.00613.37135.35912.9861.925.06
(Yancheng)
Co. Ltd.Luxshare
Intelligent
Manufacture RMB1.3 31118294 35043865 14816173 16260926 148431758
Subsidiary Note 5
Technology billion 615.10 48.40 349.42 33.40 9.38
(Changshu)
Co. Ltd.Dongguan
Luxshare RMB613405 13578876 61365369 13296237 14600637 134994378
Subsidiary Note 6
Technologies 860 686.62 75.34 855.43 03.68 4.42
Co. Ltd.Acquisition and disposal of subsidiaries during the Reporting Period
□Applicable □ Not applicable
Method of acquisition
Impact on overall production operations and
Company name and disposal during the
operating results
Reporting Period
No significant impact on overall production
Luxshare Precision Industry (Handan) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Luxshare Communications (Shanghai) Co. Limited Newly established
operations and operating results
No significant impact on overall production
Luxshare Precision Industry (Henan) Co. Ltd. Newly established
operations and operating results
Luxshare Supply Chain Technology (Shenzhen) Co. No significant impact on overall production
Newly established
Ltd. operations and operating results
No significant impact on overall production
Luxshare Power (Kunshan) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Luxshare Intelligent Electronic (Jiaxing) Co. Ltd. Newly established
operations and operating results
Suzhou Xiangcheng Luxshare Precision Industry Co. No significant impact on overall production
Newly established
Ltd. operations and operating results
72Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Suzhou Xiangcheng Luxshare Precision Metal No significant impact on overall production
Newly established
Technology Co. Ltd. operations and operating results
Lilian Xunda Intelligent Terminal (Jiashan) Co. Ltd. No significant impact on overall production
Newly established
Wuxi Branch operations and operating results
No significant impact on overall production
Jiaxing Yongrui Electron Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Xi’an Luxshare Information Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Wuxi Litong Information Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Shanghai Luxshare Information Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Shanghai Luxshare Electronic Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Luxshare Precision Mexico S.A. de C.V. M&A
operations and operating results
No significant impact on overall production
Excellox Inc. M&A
operations and operating results
No significant impact on overall production
Guangdong Luxshare Merry Electronics Co. Ltd. Deregistered
operations and operating results
No significant impact on overall production
Zhejiang PUSON Electronic Technology Co. Ltd. Deregistered
operations and operating results
No significant impact on overall production
Luxcase Precision Technology (Huangshi) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Luxshare Precision Industry (Ma’anshan) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Luxshare Precision Cayman Limited Newly established
operations and operating results
Luxshare Precision Industry (Chuzhou) Technology No significant impact on overall production
Newly established
Co. Ltd. operations and operating results
Luxshare Precision Intelligent Manufacturing No significant impact on overall production
Newly established
(Kunshan) Co. Ltd. operations and operating results
No significant impact on overall production
Luxshare Supply Chain Technology (Wuxi) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
SpeedTech Industrial Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Luxshare-ICT (Bac Ninh) Co. Ltd Newly established
operations and operating results
73Luxshare Precision Industry Co. Ltd. 2025 Annual Report
No significant impact on overall production
Jiangxi Xiexun Intelligent Equipment Co. Ltd. Newly established
operations and operating results
Kunshan Jinhong Enterprise Management Service No significant impact on overall production
Newly established
Partnership (Limited Partnership) operations and operating results
No significant impact on overall production
Hongtao Intelligent Equipment (Kunshan) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Leoni Cable Solutions Morocco S.A.S.U. Newly established
operations and operating results
No significant impact on overall production
Lishun Precision Technology (Jiashan) Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Linkz Industriesy (Suzhou) Limited Shanghai Branch Newly established
operations and operating results
Luxshare Thermal Technology (Huizhou) Co. Ltd. No significant impact on overall production
Newly established
Xi’an Branch operations and operating results
No significant impact on overall production
Lyntera Co. Ltd. Newly established
operations and operating results
No significant impact on overall production
Dongguan Xuntao Electronic Co. Ltd. Wuhan Branch Newly established
operations and operating results
No significant impact on overall production
Dongguan Xuntao Electronic Co. Ltd. Qingxi Branch Newly established
operations and operating results
No significant impact on overall production
Asap Technology (Jiangxi) Co. Ltd. Shanghai Branch Newly established
operations and operating results
No significant impact on overall production
ST Investment Holding Corp. Newly established
operations and operating results
No significant impact on overall production
Luxcase Precision Technology (Changzhou) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Kunming Luxshare Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Kunming Zhitong Electronics Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Shenzhen Luxshare Zhitong Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Huangshi Zhitong Electronics Co. Ltd. M&A
operations and operating results
Wingtech Technology (Shenzhen) Co. Ltd. Beijing No significant impact on overall production
M&A
Branch operations and operating results
No significant impact on overall production
Shanghai Wenzhou Electronic Technology Co. Ltd. M&A
operations and operating results
74Luxshare Precision Industry Co. Ltd. 2025 Annual Report
No significant impact on overall production
LEONI AG M&A
operations and operating results
No significant impact on overall production
LEONI Industry Holding GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Bordnetze Verwaltungs-GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Bordnetz-Systeme GmbH M&A
operations and operating results
No significant impact on overall production
KB Kabel Beteiligungs-GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Tunisia SARL M&A
operations and operating results
No significant impact on overall production
Leonische Portugal Lda. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Czech s.r.o. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Poland Sp. z o.o. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Slovakia Spol. s.r.o. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems France S.A.S. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Pitesti S.R.L. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Ain Sebaa S.A. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Bouskoura S.A. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Berrechid S.A. M&A
operations and operating results
LEONI Wiring Systems Turkey Kablo Sistemleri No significant impact on overall production
M&A
Limited operations and operating results
No significant impact on overall production
LEONI Italy S.P.A. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Inc. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Mexicana S.A. de C.V. M&A
operations and operating results
75Luxshare Precision Industry Co. Ltd. 2025 Annual Report
No significant impact on overall production
LEONI Wiring Systems de Durango S.A. de C.V. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Yucatan S.A. de C.V. M&A
operations and operating results
LEONI Wiring Systems Services de Hermosillo S.A. No significant impact on overall production
M&A
de C.V. operations and operating results
No significant impact on overall production
LEONI Wiring Systems Spain S.L.U. M&A
operations and operating results
No significant impact on overall production
LEONI Kabelsysteme GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems U.K. Ltd. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Arad S.R.L. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems RO S.R.L. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Southeast d.o.o. M&A
operations and operating results
No significant impact on overall production
TOV LEONI Wiring Systems UA GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Bulgaria EOOD M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Egypt S.A.E. M&A
operations and operating results
No significant impact on overall production
LEONI Electrical Systems (Shanghai) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring System (Tieling) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
LEONI Electrical Systems (Penglai) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems Korea Inc. M&A
operations and operating results
No significant impact on overall production
LEONI Electric System (Jining) Corporation M&A
operations and operating results
No significant impact on overall production
LEONI Wiring Systems de Paraguay S.R.L. M&A
operations and operating results
No significant impact on overall production
LEONI Automotive do Brasil Ltda. M&A
operations and operating results
76Luxshare Precision Industry Co. Ltd. 2025 Annual Report
No significant impact on overall production
LEONI Wiring Systems Agadir S.A.S.U. M&A
operations and operating results
No significant impact on overall production
LEONI Kabel GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Cable Assemblies GmbH M&A
operations and operating results
No significant impact on overall production
LEONI Slovakia spol. s r.o. M&A
operations and operating results
No significant impact on overall production
LEONI Cable (China) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
LEONI HighTemp Solutions GmbH M&A
operations and operating results
No significant impact on overall production
LKH LEONI Kabelwerk Kábelgyár Hungária Kft. M&A
operations and operating results
No significant impact on overall production
LEONI Kabel Polska sp. z o.o. M&A
operations and operating results
LEONI Kablo ve Teknolojileri Sanayi ve Ticaret Ltd. No significant impact on overall production
M&A
Sirketi operations and operating results
No significant impact on overall production
LEONI Cable Solutions RO S.R.L. M&A
operations and operating results
No significant impact on overall production
Leonische Holding Inc. M&A
operations and operating results
No significant impact on overall production
LEONI Cable Inc. M&A
operations and operating results
No significant impact on overall production
LEONI Cable S.A. de C.V. M&A
operations and operating results
No significant impact on overall production
LEONI Cable de Chihuahua S.A. de C.V. M&A
operations and operating results
No significant impact on overall production
Luxshare Precision Malaysia Sdn Bhd M&A
operations and operating results
No significant impact on overall production
Slenergy Technology (Anhui) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Slenergy Technology (Meizhou) Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Kunshan Xinben New Energy Technology Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Slenergy Technology GmbH M&A
operations and operating results
77Luxshare Precision Industry Co. Ltd. 2025 Annual Report
No significant impact on overall production
Slenergy Technology Co S.L. M&A
operations and operating results
No significant impact on overall production
Slenergy Technology (HK) Limited M&A
operations and operating results
Slenergy Technology (Anhui) Co. Ltd. Shenzhen No significant impact on overall production
M&A
Branch operations and operating results
No significant impact on overall production
Luxshare Communications (Hong Kong) Co. Limited M&A
operations and operating results
Luxshare Communications (Hong Kong) Co. Limited No significant impact on overall production
M&A
South Korea Branch operations and operating results
No significant impact on overall production
PT Wingtech Technology Indonesia M&A
operations and operating results
No significant impact on overall production
Dejinchang Investment Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Jin’s Copper Industries Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Huizhou Huasheng Electronic Wire Co. Ltd. M&A
operations and operating results
Huizhou Dejinchang Optoelectronics Technology Co. No significant impact on overall production
M&A
Ltd. operations and operating results
No significant impact on overall production
Huizhou Dejinchang New Materials Co. Ltd. M&A
operations and operating results
No significant impact on overall production
Jian Dejinchang Optoelectronics Technology Co. Ltd. M&A
operations and operating results
Nantong Dejinchang Photoelectric Technology Co. No significant impact on overall production
M&A
Ltd. operations and operating results
No significant impact on overall production
Nantong Zhenhongchang Technology Co. Ltd. M&A
operations and operating results
Dejinchang Optoelectronics Technology (Thailand) No significant impact on overall production
M&A
Co. Ltd. operations and operating results
No significant impact on overall production
Deshengchang New Material (Thailand) Co. Ltd. M&A
operations and operating results
DZC Optoelectronics Technology (Vietnam) No significant impact on overall production
M&A
Company Limited operations and operating results
No significant impact on overall production
LEONI Cable (China) Co. Ltd. Sanjing Branch M&A
operations and operating results
No significant impact on overall production
LEONI Cable (China) Co. Ltd. Panjin Branch M&A
operations and operating results
78Luxshare Precision Industry Co. Ltd. 2025 Annual Report
No significant impact on overall production
LEONI Cable (China) Co. Ltd. Binjiang Branch M&A
operations and operating results
No significant impact on overall production
CalDigit Holding Limited Surrendered board seat
operations and operating results
No significant impact on overall production
CalDigit Limited Surrendered board seat
operations and operating results
No significant impact on overall production
Ayala Design Co. Ltd. Surrendered board seat
operations and operating results
No significant impact on overall production
Castle Rock Inc. Surrendered board seat
operations and operating results
No significant impact on overall production
CalDigit America Inc Surrendered board seat
operations and operating results
No significant impact on overall production
CalDigit (Europe) Limited Surrendered board seat
operations and operating results
No significant impact on overall production
CalDigit Inc. Surrendered board seat
operations and operating results
No significant impact on overall production
CalDigit UK Limited Surrendered board seat
operations and operating results
No significant impact on overall production
Lisen Precision Technology (Kunshan) Co. Ltd. Deregistered
operations and operating results
Da Chuang Precision Intelligent Manufacturing No significant impact on overall production
Deregistered
(Dongguan) Co. Ltd. Dongkeng Branch operations and operating results
No significant impact on overall production
Luxshare Precision Industry (Mingguang) Co. Ltd. Deregistered
operations and operating results
Luxshare Technologies (Dongguan) Co. Ltd Dalian No significant impact on overall production
Deregistered
Branch operations and operating results
Wingtech Technology (Shenzhen) Co. Ltd. Beijing No significant impact on overall production
Deregistered
Branch operations and operating results
No significant impact on overall production
Kunshan Xinben New Energy Technology Co. Ltd. Deregistered
operations and operating results
No significant impact on overall production
Cosmo Lab Inc Deregistered
operations and operating results
No significant impact on overall production
Cosmo Co USA Inc Deregistered
operations and operating results
Explanation of major subsidiaries and non-controlling equity investees
1. Important Note: In 2025 the total assets net assets operating revenue operating profit and net profit of Dongguan Luxshare
Technology Co. Ltd. did not reach 10% of the corresponding indicators in the Company’s consolidated financial statements and
therefore it is not classified as a major subsidiary for disclosure purposes. However based on the principle of continuity in information
disclosure and to provide investors with more comprehensive reference information the Company has included it in this disclosure.
79Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Notes to the principal business (business scope) of major subsidiaries and non-controlling equity investees:
Note 1: Trading of electronic products data cables connection cables connectors computers and peripheral equipment and plastic
and metal products.Note 2: Sales and services of various internal and external connection cable assemblies and various precision connectors in the
information communications and consumer electronics industries.Note 3: Computer peripheral devices connection cables connectors; new electronic components; instruments and accessories for the
communications and information industry; plastic and metal products; research development production and sales of electronic
specialized equipment testing instruments tooling and molds remote-controlled power models and related supplies and spare parts;
production and sales of power supplies and wireless transmission products; software development; import and export of goods and
technology. Permitted items: Class II medical device manufacturing; Class II value-added telecommunications services. General items:
Manufacturing of automotive components and accessories; R&D of automotive components; wholesale of automotive components;
retail of automotive components; sales of mechanical parts and components; manufacturing of optoelectronic devices; sales of
optoelectronic devices; R&D of electronic specialty materials; R&D of household appliances; R&D of motorcycle components;
manufacturing of motorcycle components; manufacturing of lighting fixtures; manufacturing of transformers rectifiers and inductors;
manufacturing of computer hardware software and peripheral devices; manufacturing of power transmission distribution and control
equipment.Note 4: Engaged in technology development technical consulting and technical services in the field of computer accessories; design
development and manufacturing of precision stamping dies with precision of 0.02?mm or better (inclusive) precision cavity molds
with precision of 0.05?mm or better (inclusive) metal product molds non-metal product molds and standard mold components;
manufacturing of heat-resistant insulating material molded parts for 3C electronic products stamped metal parts rivets shafts
mechanical components and other parts and accessories; industrial design and product design (including appearance design structural
design circuit design and graphic design); leasing of self-owned idle equipment; wholesale commission agency (excluding auctions)
import and export of the above products and their related components and provision of supporting services. General items:
Manufacturing of mobile terminal devices; manufacturing of communication equipment; manufacturing of electronic components;
manufacturing of forgings and powder metallurgy products; manufacturing of computer software hardware and peripheral equipment;
retail of computer software hardware and auxiliary equipment; manufacturing of automotive components and accessories.Note 5: Permitted items: Import and export of goods; import and export of technologies. General items: R&D of electronic specialty
materials; manufacturing of electronic specialty materials; retail of electronic specialty materials; manufacturing of electronic
components; wholesale of electronic components; retail of electronic components; sales of electronic products; manufacturing of other
electronic devices; motor manufacturing; manufacturing of transformers rectifiers and inductors; manufacturing of automotive
components and accessories; R&D of automotive components; wholesale of automotive parts and accessories; retail of automotive
parts and accessories; processing of mechanical parts and components; sales of mechanical parts and components; R&D of metal
products; sales of metal products; R&D of hardware products; manufacturing of hardware products; retail of hardware products;
wholesale of hardware products; R&D of new material technologies; manufacturing of plastic products; sales of plastic products;
manufacturing of rubber products; sales of rubber products; mold manufacturing; sales of molds; plastic surface treatment; metal cutting
and machining services; metal surface treatment and heat treatment processing; manufacturing of electronic components and
electromechanical devices; sales of electronic components and electromechanical devices; manufacturing of power electronics
components; sales of power electronics components; manufacturing of wearable smart devices; sales of wearable smart devices;
manufacturing of communication equipment; sales of communication equipment; manufacturing of optoelectronic devices; sales of
optoelectronic devices; manufacturing of specialized equipment for rubber processing; sales of specialized equipment for rubber
processing; technical services technology development technical consulting technical exchange and technology transfer and
promotion; non-residential property leasing; manufacturing of computer hardware software and peripheral equipment.Note 6: General items: Manufacturing of communication equipment; sales of communication equipment; manufacturing of optical
communication equipment; sales of optical communication equipment; technical services technology development technical
consulting technical exchange and technology transfer and promotion; non-residential property leasing; import and export of goods;
import and export of technology; manufacturing of transformers rectifiers and inductors; manufacturing of power distribution switch
control equipment; sales of power distribution switch control equipment; R&D of power distribution switch control equipment;
manufacturing of electronic components.X. Structured Entities Controlled by the Company
□ Applicable □Not applicable
XI. Outlook for the Company’s Future Development
Faced with a new cycle of technological growth driven by both the deepening of AI large-model technologies and the widespread
adoption of on-device intelligence the Company is firmly advancing its three “Five-Year” strategic plans. Looking ahead we will take
foundational technologies as our cornerstone and our smart manufacturing platform as support continuously deepen our engagement
in three core business segments and strive to become the most trusted global provider of full-scenario smart manufacturing and one-
stop solutions.
1. Consolidate foundational technologies and deepen the full-stack R&D and innovation system
The Company regards independent innovation in foundational technologies as the lifeline for transcending industry cycles. Leveraging
80Luxshare Precision Industry Co. Ltd. 2025 Annual Report
the unique “full-stack development and smart manufacturing platform” we will deeply explore the synergistic effects of materials
science process engineering and AI technologies continuously empowering core technologies in acoustics optics electricity
magnetism and thermal domains and achieving cross-domain vertical integration from precision components and modules to systems.Looking forward the Company will proactively invest in frontier fields including 448G and above high-speed electrical connections
1.6T and 3.2T+ high-speed optical interconnects XPO ultra-high-density interconnect solutions high-performance thermal modules
integrated power modules and embodied intelligent robotic equipment. By assembling a global interdisciplinary R&D team we
continuously expand technological boundaries injecting relentless innovation into each business segment through the model of
“applying developing and pre-researching each technology generation in parallel”.
2. Strengthen a resilient global footprint to lead the deep evolution of smart manufacturing and digitalization
At the global operations level the Company’s strategy is shifting from a purely “capacity-focused layout” to a “resilient high-efficiencyglobal operating network”. Through the organic integration of endogenous growth and external M&As we continue to optimize our
coordinated manufacturing and R&D network across Asia the Americas Europe and other regions. This approach not only ensures
agile and secure localized services for leading overseas customers but also leverages Luxshare’s global resources to support the high-
quality global expansion of outstanding Chinese brands.In terms of the foundation of production and manufacturing the Company fully embraces AI technologies implementing the “SmartManufacturing 2.0” philosophy while advancing toward “Smart Manufacturing 3.0 and 4.0” which feature forward-looking and
independently closed-loop decision-making capabilities. We will advance digitalization into deep applications deeply integrating
digital twins AI computing power and flexible production technologies to maximize production efficiency and yield. At the same
time we will fully integrate ESG principles into global supply chain management strive to build zero-carbon factories and lead the
green and sustainable development of the entire industry chain.
3. Seize the opportunities of the “AI+” era to drive leapfrog growth across the three core business segments
Supported by foundational technologies and its global smart manufacturing platform the Company has built a diversified integrated
and collaborative portfolio of three core business segments:
Consumer electronics business: Embracing the on-device intelligence wave the Company deepens the vertical integration from
components to modules and finished devices. Responding to a new smart device replacement cycle driven by AI smartphones AI PCs
and “AI + wearable hardware” the Company leverages innovative technology R&D lean manufacturing and cost-control capabilities
to achieve breakthroughs across the entire chain from components to functional modules and system solutions. In addressing the
stringent physical challenges imposed by on-device AI including device miniaturization lightweight design aesthetic differentiation
heat dissipation and high-speed interconnects as well as the commercial challenges posed by consumers’ high expectations for
hardware cost-performance we apply top-tier process analysis and manufacturing transfer expertise to help leading global customers
deliver product experiences that exceed expectations unlocking high-end value in existing markets and driving application innovation
in emerging markets.Communications and data center business: In the data center segment the Company continues to strengthen its AI computing
foundation and deliver integrated solutions for high-speed interconnects and thermoelectric coordination. With the ongoing global
growth in demand for large model computing power this segment has become a key driver of the Company’s growth. Going forward
the Company will closely follow the technology evolution paths of leading global cloud service providers (CSPs) and AI chip
manufacturers and continue to build core competitiveness at key technological milestones. Building on its global leadership in high-
speed copper interconnects the Company will accelerate the adoption of optical interconnects high-efficiency liquid cooling systems
and high-power intelligent power supplies providing full-stack highly reliable infrastructure for global computing clusters. In the
communications business leveraging its principal business of communications equipment the Company is investing deeply in 5G/5G-
A base station technologies reinforcing R&D and technical accumulation in RF communication modules and core base station
components while closely monitoring 6G technology development and low-Earth-orbit satellite communications trends actively
participating in industry standard-setting and solidifying its technology foundation. The Company will continue to seize industry
opportunities deepen technological innovation and product upgrades and provide core support for global communications network
development and integrated space-air-ground networks driving high-quality development in the wireless communications sector.Automotive business: The Company accelerates its global advancement as a Tier 1 supplier building a core competitive edge through
the collaboration of software and hardware capabilities. Facing the historic opportunity of automotive intelligence the Company will
continuously leverage its experience in rapid iteration and agile manufacturing in the consumer electronics sector fully unlocking the
synergies of global major customers and production capacity brought by external M&As. Next the Company will concentrate on full-
vehicle high- and low-voltage wiring harnesses specialty wiring harnesses and related connectors smart cockpits ADASs intelligent
chassis and other core product lines. The Company will strengthen its software-hardware decoupling and collaborative development
capabilities steadily increasing the per-vehicle value and market penetration among leading global automakers. Building on this
foundation the Company will broaden its product presence across both major traditional OEMs and emerging brands leveraging strong
product introduction capabilities and close customer support to firmly secure a leading position in the global Tier 1 automotive market.XII. Company-Hosted Research Communication and Interview Activities during the Reporting Period
□Applicable □ Not applicable
81Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Topics and Reference
Method of
Date Location Attendee type Attendee materials index for
reception
provided research details
For details see
Meeting Room The Company
the Investor
313 Beihuan provided an
Relations
Road Qingxi explanation
Institutional Activity Record
March 21 2025 Town Phone call Institution regarding the
investor Form published
Dongguan City acquisition of
on CNINFO on
Guangdong certain assets of
March 24
Province Wingtech.
2025.
The Company
Meeting Room provided an For details see
313 Beihuan explanation the Investor
Road Qingxi regarding the Relations
Institutional
April 9 2025 Town Phone call Institution impact of Activity Record
investor
Dongguan City additional U.S. Form published
Guangdong tariffs and its on CNINFO on
Province response April 10 2025.measures.Meeting Room The Company For details see
313 Beihuan provided an the Investor
Road Qingxi explanation Relations
Institutional
April 26 2025 Town Phone call Institution regarding the Activity Record
investor
Dongguan City operations of Form published
Guangdong 2024 and Q1 on CNINFO on
Province 2025. April 28 2025.Meeting Room For details see
313 Beihuan The Company’s the Investor
Road Qingxi 2024 Annual Relations
Online
May 9 2025 Town Other Investor and Q1 2025 Activity Record
exchange
Dongguan City Results Form published
Guangdong Briefing on CNINFO on
Province May 12 2025.Meeting Room For details see
Interactive
313 Beihuan the Investor
session during
Road Qingxi Relations
On-site the Company’s
May 22 2025 Town Other Investor Activity Record
research Annual
Dongguan City Form published
Shareholders’
Guangdong on CNINFO on
Meeting
Province May 26 2025.For details see
Meeting Room
The Company the Investor
313 Beihuan
provided an Relations
Road Qingxi
August 27 Institutional explanation Activity Record
Town Phone call Institution
2025 investor regarding the Form published
Dongguan City
operations of on CNINFO on
Guangdong
H1 2025. August 29
Province
2025.
Meeting Room For details see
313 Beihuan The Company’s the Investor
November 1 Road Qingxi Institutional Q3 2025 Phone call Institution Relations
2025 Town investor Results Activity Record
Dongguan City Briefing Form published
Guangdong on CNINFO on
82Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Province November 3
2025.
The Company
provided an For details see
Meeting Room
update on the the Investor
313 Beihuan
progress in Relations
Road Qingxi
November 20 On-site Institutional consumer Activity Record
Town Institution
2025 research investor electronics data Form published
Dongguan City
center on CNINFO on
Guangdong
automotive and November 26
Province
robotics 2025.business
XIII. Implementation of the Market Value Management System and Valuation Enhancement Plan
Whether the Company has established a market value management system
□Yes □ No
Whether the Company has disclosed a valuation enhancement plan
□ Yes □No
To strengthen the market value management of Luxshare Precision Industry Co. Ltd. (hereinafter the “Company”) further standardize
market value management practices safeguard the legitimate rights and interests of the Company its investors and other stakeholders
establish the Company’s integrity image enhance core competitiveness and actively respond to the call in the Guideline No. 10 for
Listed Companies—Market Value Management encouraging listed companies to establish a market value management system the
Company has formulated the Market Value Management System in accordance with the Company Law of the People’s Republic of
China the Securities Law of the People’s Republic of China the Rules Governing the Listing of Shares on Shenzhen Stock Exchange
the Self-Regulatory Guidelines No. 1 for Companies Listed on Shenzhen Stock Exchange—Standardized Operation of Companies
Listed on the Main Board and other applicable laws and regulations. The Market Value Management System has been reviewed and
approved at the Seventh Meeting of the Sixth Board of Directors of the Company. The full text of the system is available on the
Company’s designated disclosure website: CNINFO (http://www.cninfo.com.cn).XIV. Implementation of the Action Plan for “Improvement in Both Quality and Earnings”
Whether the Company has disclosed the announcement on the action plan for “Improvement in Both Quality and Earnings”
□Yes □ No
The Company disclosed the Announcement on the Action Plan for “Improvement in Both Quality and Earnings” on February 18 2024.The specific content of the announcement and the measures the Company has taken to implement the action plan are as follows:
I. Strengthening the Core Business and Focusing on Digital and Intelligent Empowerment
Founded in 2004 in Shenzhen and listed on the Shenzhen Stock Exchange in 2010 the Company is a precision smart manufacturing
enterprise. Its main products cover consumer electronics automotive communications industrial and medical fields serving leading
domestic and international brand customers. The Company provides customers with one-stop multi-category core components module
products and system solutions.In the consumer electronics sector the Company focuses on the integrated development of underlying technologies and processes to
empower and differentiate products such as smartphones smart wearables and mixed reality devices. By stacking its products to create
scenarios the Company establishes ecosystems across different scenarios. Within these ecosystems scenarios and product
combinations Luxshare-ICT strives to be the most comprehensive solution provider. In the communications sector the Company has
long specialized in high-speed interconnect products. Leveraging its well-proven process development and precision manufacturing
capabilities it covers core components including electrical connectors optical connectors base station RF heat dissipation and power
supply extending broadly to module- and system-level products. This creates a vertically integrated service capability within the
communications domain. In the automotive sector as the global market steadily progresses toward electrification intelligence
connectivity and shared mobility the Company has fully leveraged its years of experience in consumer electronics and
communications—including core capabilities in acoustics optics electronics thermal management magnetics and RF technologies—
along with extensive expertise in process development and over a decade of deep understanding of automotive components to achieve
cross-industry application in automotive wiring harnesses connectors smart cockpits and intelligent driving systems. Meanwhile
under the strategic guidance of the Company’s three “Five-Year” plans the Company’s management continuously monitors market
dynamics and aligns with industry trends taking collaborative development as a fundamental goal. By strategically planning around
its principal business the Company is committed to providing the market with fully integrated and best-in-class comprehensive
solutions across the entire industrial chain.Since its establishment the Company has consistently focused on industry deeply cultivating its principal business and refining its
83Luxshare Precision Industry Co. Ltd. 2025 Annual Report
professional expertise to build core competitiveness. At the same time it adheres to principled innovation. By fully leveraging industrial
synergies the Company strengthens its principal business and through its stable operations continuously nurtures forward-looking
industries. As next-generation information technologies become increasingly integrated with manufacturing the Company remains
tightly aligned with the foundational logic of precision smart manufacturing actively empowering key processes in product R&D
design mass production and testing through intelligent and digital capabilities and supporting its transformation toward digital and
intelligent operations and high-quality development. On this basis the Company maintains prudent and disciplined investment practices
avoids uncontrolled expansion strengthens management of raised funds strictly regulates investments in sensitive industries or uses
subject to rule or policy restrictions and prevents a shift away from real economic activities.II. Persist in Innovation to Stimulate New Growth Drivers
Since its listing the Company has consistently placed R&D and innovation at the core of its development. It maintains substantial
investment in research and technological development innovates traditional manufacturing processes steadily enhances automation in
production and creates platforms for each stage of precision manufacturing processes. In addition the Company attaches great
importance to long-term cultivation in underlying materials and innovative production technologies. The R&D team continues to
explore advanced technology frontiers studying and exploring cutting-edge precision manufacturing processes and product
applications. Together with core customers it has established advanced technology development laboratories to jointly develop frontier
technologies.The Company’s R&D expenses is mainly divided into frontier technology investment and product iteration investment. Frontier
technology investment primarily targets the medium- and long-term product and business planning with approximately 30% of the
total R&D expenses allocated to innovation in areas such as underlying materials processes and manufacturing technology. This aims
to enable 30% of the Company’s products to enter the global “uncharted territory” within the next 20 years. Product iteration investment
on the other hand focuses on R&D activities from concept to NPI for new solutions and products. Over the years the Company’s R&D
expenditure and achievements have steadily increased. In the past three years cumulative R&D expenses reached RMB28.173 billion
and the Company currently holds 9367 patents.III. Standardize Operations to Enhance Governance
The Company continues to strengthen its governance foundation and internal control systems ensuring that the Board of Directors the
Board of Supervisors the Shareholders’ Meeting and the Senior Management operate effectively and fulfill their responsibilities. It
regulates the rights and obligations of the Company and its shareholders to prevent abuse of shareholder rights or management’s
dominant position that could harm minority investors. Investor relations management is reinforced broadening channels for
institutional investors to participate in corporate governance and guiding minority investors to actively participate in the Shareholders’
Meetings. This facilitates investor participation in major corporate decisions and enhances their voice and sense of gain.The Company will continue to improve and refine its corporate governance structure and internal control systems carry out governance
activities on an ongoing and in-depth basis and enhance its corporate governance standards to provide robust protection for the lawful
rights and interests of its shareholders. The Company’s management will further enhance operational management capabilities
strengthen the Company’s core competitiveness profitability and comprehensive risk management thereby achieving sustainable
growth and delivering returns to investors.
4. Strengthen Information Disclosure and Efficiently Communicate Value
The Company emphasizes the importance and relevance of information disclosure proactively providing investors with information
useful for decision-making while strengthening the disclosure of key information on industry competition business operations and
risk factors. Redundant disclosures are minimized. The Company ensures that disclosures are truthful accurate complete timely fair
concise clear and easy to understand. Regular results briefings are conducted while hype-driven promotions and trend-chasing
activities are strictly prohibited to prevent stock manipulation risks.The company will actively establish open fair transparent and multi-dimensional investor communication channels continuing to
actively engage with investors through the “Hu Dong Yi” platform (irm.cninfo.com.cn) investor emails dedicated hotlines results
briefings and other formats. These efforts aim to deepen investors’ understanding of the Company’s operations better convey its
investment value strengthen investors’ confidence in the Company and build market trust.V. Share Achievements and Proactively Reward Investors
The Company adheres to a people-centered value orientation and an investor-focused approach remembering the contributions of
millions of minority investors to the development of China’s capital market over the past 30-plus years. It firmly upholds the principle
of shareholder returns ensuring that investors receive returns and a sense of gain while strengthening corporate culture fostering a
distinctive development vision promoting positive values maintaining a business philosophy of integrity fulfilling social
responsibility and cultivating a spirit of innovation and enterprise. The Company operates in full compliance with applicable laws and
regulations adheres to the principle that a public company belongs to the public and actively rewards investors to stabilize the market
and boost confidence.To improve and strengthen the Company’s shareholder return mechanism enhance the transparency and operability of profit
distribution policy decisions and actively reward investors the Company has since its listing formulated the Three-Year Shareholder
Return Plan several times in accordance with the Company Law of the People’s Republic of China the Regulatory Guideline for Listed
Companies No. 3—Cash Dividends of Listed Companies other relevant laws regulations and normative documents as well as the
Articles of Association. Over the past three years the Company has distributed a total of RMB5.787 billion in dividends and cumulative
84Luxshare Precision Industry Co. Ltd. 2025 Annual Report
dividends since listing have reached RMB9.834 billion.Furthermore reflecting his confidence in the Company’s prospects recognition of its long-term intrinsic value and a sense of
responsibility toward maintaining a stable and healthy capital market Mr. Wang Laisheng one of the Company’s actual controllers
and Vice Chairperson increased his holdings on three occasions between May 2022 and September 2025 (in May 2022 January 2024
and September 2025) through call auction trading on the Shenzhen Stock Exchange. During this period Mr. Wang Laisheng
cumulatively increased his holdings in the Company by 14626447 shares with a total cumulative increase amounting to
RMB501.3719 million (excluding transaction expenses).
85Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section IV Corporate Governance Environmental and Social Responsibility
I. General Information of Corporate Governance
The Company has consistently been committed to promoting the establishment and improvement of a modern corporate system
standardizing the operations of listed companies and improving its corporate governance structure. During the Reporting Period in
strict accordance with the requirements of the Company Law the Securities Law the Rules Governing the Listing of Stocks on Shenzhen
Stock Exchange (2025 Revision) the Guidelines for Articles of Association of Listed Companies the Code of Corporate Governance
of Listed Companies the Self-Regulatory Guidelines No. 1 for Companies Listed on Shenzhen Stock Exchange—Standardized
Operation of Companies Listed on the Main Board and other laws regulations and normative documents the Company continuously
improved the corporate governance structure established and enhanced systems standardized corporate operations strengthened
information disclosure and actively carried out investor relations management to improve corporate governance.i. Regarding shareholders and the Shareholders’ Meeting: The Company strictly complied with the Company Law the Articles of
Association the Rules of Procedure for the Shareholders’ Meeting and other applicable regulations and requirements standardized
the procedures for convening holding and voting at shareholders’ meetings treated all shareholders equally and adopted a
combination of on-site and online voting methods to ensure that shareholders especially minority shareholders could fully exercise
their rights. When the Shareholders’ Meeting deliberated on related matters the related shareholders abstained from voting. Related-
party transactions were fair and reasonable and there were no circumstances that harmed shareholders’ interests. Separate vote counting
for minority investors is adopted when voting on resolutions that affect the interests of minority investors. All shareholders’ meetings
were convened and held by the Board of Directors of the Company with witness lawyers present on-site.ii. Regarding the Company and the controlling shareholder: The Company is independent of the controlling shareholder in terms of
business assets personnel organization and finance and the Company’s Board of Directors and other internal bodies operate
independently. The Company’s controlling shareholder was able to strictly regulate its own conduct did not directly or indirectly
intervene in the Company’s decision-making and operating activities beyond the Shareholders’ Meeting and did not engage in any
non-operating appropriation of the listed company’s funds.iii. Regarding directors and the Board of Directors: The Company strictly elected directors and appointed independent directors in
accordance with the selection and appointment procedures stipulated in the Company Law and the Articles of Association. The
Company currently has eight directors including three independent directors who are experts in fields such as law and accounting.The number and composition of the Board of Directors comply with the requirements of laws and regulations the Articles of
Association and other applicable provisions. Under the Board of Directors four special committees have been established namely the
Audit Committee the Strategy Committee the Nomination Committee and the Remuneration and Appraisal Committee. These
committees are reasonably structured providing scientific and professional opinions and references for the Board of Directors’
decision-making. The Board of Directors strictly convened and held Board meetings in accordance with the Articles of Association
the Rules of Procedure for Board Meetings and other relevant provisions and implemented resolutions of the Shareholders’ Meeting.All directors were able to fulfill their respective duties diligently attended Board meetings and shareholders’ meetings and safeguarded
the legitimate rights and interests of the Company and its shareholders.iv. Regarding performance appraisal and the incentive and restraint mechanism: In order to further establish and improve the
Company’s incentive mechanism and strengthen the concept of the Company’s sustainable development together with the management
and core employees the Company implemented an equity incentive plan to enhance the benefit-sharing and restraint mechanism
between shareholders and core business personnel maintain the stability of the management team and key business personnel ensure
the realization of the Company’s development strategy and business objectives and safeguard the Company’s long-term steady
development. The appointment of the Company’s senior management personnel is open and transparent and complies with the
provisions of laws and regulations.v. Regarding stakeholders: The Company fully respected and safeguarded the legitimate rights and interests of stakeholders and
achieved a coordinated balance of interests among society shareholders the Company employees and other parties so that they can
jointly promote the Company’s sustainable and steady development.vi. Regarding information disclosure and transparency: In strict accordance with the relevant laws regulations the provisions of the
Company’s Information Disclosure Management Measures the Company fulfilled its information disclosure obligations in a truthful
accurate timely and complete manner. Securities Times Shanghai Securities News and CNINFO (www.cninfo.com.cn) were
designated as the media for the Company’s information disclosure. The Company also strictly maintained the confidentiality of
undisclosed information. In accordance with the provisions of the Management System on Inside Information and Insiders the
Company diligently completed the registration and reporting of persons with access to inside information established an archival
system for such persons and promptly filed them with regulatory authorities as required. At the same time the provision of the
Company’s information to external users has been strictly standardized. In the course of receiving specific targets the Company strictly
followed the relevant requirements diligently handled reception for visits by specific targets and required visitors to sign a Letter ofCommitment. After such visits the Company promptly uploaded the relevant survey records to the Shenzhen Stock Exchange’s “EasyInteraction” platform at irm.cninfo.com.cn for disclosure. During the Reporting Period there were no incidents of trading in the
Company’s shares based on inside information. Meanwhile the Company has set up an investor hotline and an investor relations
management section and designated dedicated personnel to maintain timely communication and exchanges with investors. In addition
the Company proactively and promptly maintained contact and communication with regulatory authorities and reported relevant
matters thereby accurately grasping the regulatory requirements for information disclosure and further improving the Company’s
transparency and quality of information disclosure. The Company strictly complied with the relevant content and format requirements
to disclose information in a truthful accurate complete and timely manner ensuring that all shareholders have adequate access to the
86Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Company’s information through various channels.Whether the actual situation of corporate governance significantly deviates from the laws administrative regulations and rules issued
by the CSRC on corporate governance for listed companies
□ Yes □No
The actual situation of corporate governance did not significantly deviate from the laws administrative regulations and rules issued by
the CSRC on corporate governance for listed companies.II. Independence of the Company from Its Controlling Shareholder and Actual Controller in Terms of Assets Personnel
Finance Organizations Business and Other Aspects
During the Reporting Period the Company operated in strict compliance with the Company Law and the Articles of Association
gradually improving its corporate governance structure. In terms of assets personnel finance organizations business and other aspects
the Company was separated from its controlling shareholder and had an independent and complete business operation capability and
the ability to operate independently in the market with independent R&D production and sales systems. During the Reporting Period
the Company maintained stable production and operations had a sound internal organizational structure and was able to operate
independently and in a standardized manner:
i. Completeness of assets
The Company is a joint stock limited company established through an overall conversion in accordance with the law and possesses
independent and complete assets. The Company has legally completed the relevant registration for changes in assets and equity. The
Company has not provided guarantees for the debts of any shareholders with its assets or credit nor has it provided loans or credit
facilities in the name of the Company to any shareholders. The Company has full control and disposition rights over all assets and no
assets or funds of the Company have been appropriated by the controlling shareholder in a manner detrimental to the Company's
interests.ii. Personnel independence
The directors and other senior management personnel of the Company were lawfully appointed in accordance with relevant laws
regulations and rules such as the Company Law and the Articles of Association. The senior management personnel (excluding
independent directors) all worked full-time and received remuneration from the Company and none held positions other than director
in entities related to shareholders or other entities engaged in the same or similar business. The Company’s employees were managed
independently with remuneration social security and other matters administered independently and the Company had sound
management systems and frameworks.iii. Financial independence
The Company has established independent financial accounting and internal audit departments and developed a separate accounting
system and standardized financial management system to make financial decisions independently. Since its establishment the
Company has maintained independent bank accounts independently filed tax returns and fulfilled tax obligations in accordance with
applicable laws and independently entered into contracts with third parties. There is no sharing of bank accounts with shareholders or
mixed tax payment arrangements.iv. Independence of the organization
The Company has established a sound governance structure including the Shareholders’ Meeting and the Board of Directors as well
as an independent and complete operation and management organization that meets the needs of its own development and reflects its
actual circumstances. These bodies independently exercise their respective functions and powers in accordance with the Articles of
Association and the internal management system. Since its establishment the Company has maintained complete independence in its
production operation and administrative office bodies and there are no mixed operations with its shareholders.v. Business independence
The Company has complete legal person property rights and independent R&D production and sales systems. It operates business
independently performs independent accounting and decision-making bears independent responsibilities and risks and does not rely
on shareholders or other related parties for production and operating activities.III. Horizontal Competition
□ Applicable □Not applicable
87Luxshare Precision Industry Co. Ltd. 2025 Annual Report
IV. Directors and Senior Management Personnel
1. General information
Shareholding
Increase Decrease Shareholding
at the Other Reasons for
Incumbent/F during the during the at the end of
Name Gender Age Title Start of tenure End of tenure beginning of increase/decr changes in
ormer Reporting Reporting the Reporting
the Reporting ease (share) shareholding
Period (share) Period (share) Period (share)
Period (share)
Wang
Female 59 Chairperson Incumbent February 22 2009 June 27 2027 0 0 0 0 0 None
Laichun
Wang General
Female 59 Incumbent February 22 2009 July 5 2027 0 0 0 0 0 None
Laichun Manager
Wang Vice
Male 62 Incumbent February 22 2009 June 27 2027 15439647 4414500 0 0 19854147 Auction trading
Laisheng Chairperson
New shares from
Qian Jiwen Male 51 Director Incumbent June 27 2024 June 27 2027 258000 595992 0 0 853992 the exercise of
equity incentives
Deputy New shares from
Qian Jiwen Male 51 General Incumbent July 5 2024 July 5 2027 258000 595992 0 0 853992 the exercise of
Manager equity incentives
New shares from
Hao Jie Male 43 Director Incumbent June 27 2024 June 27 2027 0 135197 0 0 135197 the exercise of
equity incentives
Deputy New shares from
Hao Jie Male 43 General Incumbent July 5 2024 July 5 2027 0 135197 0 0 135197 the exercise of
Manager equity incentives
Employee New shares from
Chen
Male 31 Representati Incumbent July 23 2025 June 27 2027 0 4000 0 0 4000 the exercise of
Weihang
ve Director equity incentives
Independent
Hou Lingling Female 50 Incumbent June 27 2024 June 27 2027 0 0 0 0 0 None
Director
Liu Independent
Male 61 Incumbent May 18 2021 June 27 2027 0 0 0 0 0 None
Zhonghua Director
Song Independent
Female 55 Incumbent May 18 2021 June 27 2027 0 0 0 0 0 None
Yuhong Director
New shares from
Board
Xiao Yunxi Female 38 Incumbent July 5 2024 July 5 2027 0 20000 0 0 20000 the exercise of
Secretary
equity incentives
Chief New shares from
Wu Tiansong Male 56 Financial Incumbent April 15 2019 July 5 2027 1329873 85197 0 0 1415070 the exercise of
Officer equity incentives
Total -- -- -- -- -- -- 17027520 5254886 0 0 22282406 --
Whether any directors or senior management personnel resigned during the Reporting Period
□ Yes □No
Changes in directors and senior management personnel
□Applicable □ Not applicable
Name Title Type Date Reason
Employee
Chen Weihang Elected July 23 2025 Job transfer
Representative Director
88Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Employment status
Professional backgrounds major work experience and current duties of the incumbent directors and senior management personnel in
the Company
i. Board members
1. Ms. Wang Laichun born in 1967 and a resident of Hong Kong holds an EMBA from Tsinghua Shenzhen International Graduate
School. She is a member of the 14th National Committee of the Chinese People’s Political Consultative Conference Vice President of
the China Women’s Chamber of Commerce of the All-China Federation of Industry and Commerce Vice President of Guangdong
Federation of Industry & Commerce a recipient of the 2024 National March 8th Red-Banner Pacesetter award and Invited Vice
President of the China Association of Women Entrepreneurs. Ms. Wang is the founder and actual controller of Luxshare Precision
Industry Co. Ltd. where she also serves as Chairperson of the Board of Directors Executive Director and General Manager.
2. Mr. Wang Laisheng born in 1964 a resident of Hong Kong is a member of the 14th Dongguan Municipal Committee of the Chinese
People’s Political Consultative Conference. He currently serves as Vice Chairperson of the Company. Mr. Wang Laisheng has been
engaged in individual business since the mid-1980s. In 1999 Mr. Wang Laisheng and Ms. Wang Laichun jointly acquired equity
interests in Luxshare Limited. In 2004 together with Ms. Wang Laichun he founded Luxshare Precision Industry (Shenzhen) Co. Ltd.(now Luxshare Precision Industry Co. Ltd.) and has since served as Vice Chairperson and Executive Director.
3. Mr. Qian Jiwen born in 1974 a Chinese citizen holds a Hong Kong Resident Identity Card with no permanent residency abroad
and holds a master’s degree from the University of Arizona USA. Mr. Qian Jiwen joined Luxshare Precision Industry Co. Ltd. in
April 2016 and currently serves as the head of the Company’s Consumer Electronics Terminal Antenna Business Division responsible
for the operation and management of antennas and flexible printed circuit board surface mount technology (SMT). He has nearly 30
years of relevant experience in the precision electronics manufacturing industry. He served as an Executive Director of the sixth session
of the Board of Directors in June 2024 and has served as Deputy General Manager of the Company since July 2024.
4. Mr. Hao Jie born in 1982 and a Chinese citizen with no permanent residency abroad holds a master’s degree from Renmin
University of China. Mr. Hao joined Luxshare Precision Industry Co. Ltd. in October 2017 and currently serves as the head of the
System-in-Package (SiP) Business Division and Chairperson of the SMT Technical Committee responsible for the Company’s SiP-
and SMT-related operations and management. He possesses solid theoretical knowledge of operations and management and extensive
experience in the consumer electronics industry. He served as an Executive Director of the sixth session of the Board of Directors in
June 2024 and was appointed Deputy General Manager of the Company in July 2024.
5. Mr. Chen Weihang born in 1995 and a Chinese citizen with no permanent residency abroad holds a bachelor’s degree. He joined
the Company in September 2021 and currently serves as the Employee Representative Director Executive Director and securities
affairs representative of the Company.
6. Ms. Hou Lingling born in 1975 is a Chinese citizen with no permanent residency abroad. Ms. Hou holds a doctoral degree from
Hunan University and a master’s degree from Zhongnan University of Economics and Law. She currently serves as a professor and
master’s supervisor at the Law School of Shenzhen University and has concurrently served as an arbitrator at the Shenzhen Court of
International Arbitration since 2019. Ms. Hou has obtained the qualification to serve as an independent director from the Shenzhen
Stock Exchange. She currently serves as an Independent Non-executive Director of the sixth session of the Board of Directors of the
Company and an independent director of Shenzhen Dobot Corp Ltd.
7. Mr. Liu Zhonghua born in 1965 is a Chinese citizen with no permanent residency abroad. Mr. Liu holds a master’s degree in
Software Engineering from Huazhong University of Science and Technology and is currently a professor and master’s supervisor at
the School of Accounting of Guangdong University of Foreign Studies. He also serves as a Council Member of the Accounting Society
of China Vice President of the Accounting Society For Foreign Economic Relations & Trade of China Vice President of the
Guangdong Association of Management Accountants Executive Council Member of the Accounting Society of Guangdong and Vice
President of the Guangzhou Society of Accountants. Mr. Liu Zhonghua has obtained the qualification to serve as an independent
director from the Shenzhen Stock Exchange. He is currently an Independent Non-executive Director of the fifth and sixth sessions of
the Board of Directors of the Company and also serves as an independent director of Guangzhou Yuexiu Capital Holdings Group Co.Ltd. and Guangdong Guangzhou Daily Media Co. Ltd.
8. Ms. Song Yuhong born in 1971 and a Chinese national holds a Master of Laws degree from Wuhan University and a Master of
Business Administration degree from ESG Management School. She is currently a senior partner at Beijing DeHeng (Shenzhen) Law
Offices principally providing litigation and non-litigation legal services in the financial and securities fields including financial and
securities litigation and arbitration domestic and overseas listings mergers and acquisitions asset management corporate capital
operations and investment mergers and acquisitions. Ms. Song Yuhong has obtained the qualification to serve as an independent
director from the Shenzhen Stock Exchange and currently serves as an Independent Non-executive Director of the fifth and sixth
sessions of the Board of Directors of the Company.ii. Senior management personnel
1. For Ms. Wang Laichun’s resume please refer to “Board members” in this section.
2. For Mr. Hao Jie’s resume please refer to “Board members” in this section.
3. For Mr. Qian Jiwen’s resume please refer to “Board members” in this section.
89Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4. Ms. Xiao Yunxi born in 1987 and a Chinese citizen graduated from Shanghai University of International Business and Economics
with a bachelor’s degree in economics. She joined Luxshare Precision Industry Co. Ltd. in 2009 and successively served as strategy
procurement specialist product development PM head of global marketing business chief of securities affairs and investor relations
manager. She has served as Board Secretary of the Company since July 2024.
5. Mr. Wu Tiansong born in 1970 and a citizen of Taiwan China holds a bachelor’s degree from National Taiwan Institute of
Technology and currently serves as the Chief Financial Officer of Luxshare Precision Industry Co. Ltd. From August 1996 to August
1999 Mr. Wu Tiansong worked as a senior auditor in the audit department of Deloitte & Touche. From September 1999 to March
2009 he successively served as head of the underwriting department of Yuanta Securities in Taiwan head of the accounting department
of Taiwan-listed companies such as P-Two Industries Inc. and Uniwill Computer Corp and head of the finance department at Ichia
Technology (Zhongshan) Co. Ltd. In 2011 he joined the Company.Circumstances in which the controlling shareholder or the actual controller concurrently serves as Chairperson and General Manager
of the listed company
□Applicable □ Not applicable
Ms. Wang Laichun the actual controller of the Company serves as the Chairperson of the Board of Directors and General Manager
and is primarily responsible for the Company’s daily operational management and business development. She is a core member of the
Company’s management team. In accordance with the Articles of Association the Rules of Procedure for Board Meetings the Work
Rules of the General Manager and relevant internal control systems the Company has established and improved sound decision-
making and approval mechanisms. In the course of operation and management Ms. Wang Laichun has strictly fulfilled the
authorization and decision-making procedures of the Shareholders’ Meeting and the Board of Directors. Her relevant duties and actions
have all been conducted in a regulated manner within the corporate governance framework and will not adversely affect the
independence of the listed company.Position held in shareholders’ entities
□ Applicable □Not applicable
Position held in other entities
□Applicable □ Not applicable
Remuneration or
Office held in other Start of
Name Other entity End of tenure allowance from
entity tenure
other entity
Luxcase Precision
February 3
Wang Laichun Technology Chairperson No
2021
(Yancheng) Co. Ltd.Lizhen Precision
November 25
Wang Laichun Technology (Jiangsu) Director No
2020
Co. Ltd.Chery Automobile Co. Non-executive March 30
Wang Laichun No
Ltd. Director 2024
Luxshare Electronic
Wang Laichun Technology (Kunshan) Chairperson May 29 2020 No
Ltd.Luxvisions Innovation
Wang Laichun Chairperson May 19 2025 No
Technology Limited
Dongguan Luxshare December 4
Wang Laichun Chairperson No
Technologies Co. Ltd. 2025
BCS Automotive
Wang Laichun Technology (Suzhou) Chairperson July 19 2018 No
Co. Ltd.
90Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Xiexun Electronic November 12
Wang Laichun Vice Chairperson No
(Ji’an) Co. Ltd. 2005
Chairperson of the
TIME Interconnect Board of Directors; April 19
Wang Laichun Yes
Technology Limited Non-executive 2022
Director
Lizhen Precision
November 25
Wang Laisheng Technology (Jiangsu) Chairperson No
2020
Co. Ltd.Chery Holding Group December 27
Wang Laisheng Director No
Co. Ltd. 2024
Lanto Electronic
Wang Laisheng Vice Chairperson May 12 2011 No
Limited
Lishun Holdings Executive Director
Wang Laisheng July 16 2021 No
(Guangdong) Co. Ltd. Manager
Lishan Business
Executive Director November 16
Wang Laisheng Management No
Manager 2020
(Zhejiang) Co. Ltd.Jiangxi Luxshare
December 25
Wang Laisheng Intelligent Manufacture Director No
2015
Co. Ltd.Dongguan Luxshare
November 27
Wang Laisheng Precision Industry Co. Chairperson No
2015
Ltd.Luxshare Precision
March 24
Wang Laisheng Industry (Chuzhou) Director No
2014
Co. Ltd.Xunmu Information
April 27
Wang Laisheng Technology (Shanghai) General Manager No
2021
Co. Ltd.Luxshare Precision
October 25
Wang Laisheng Industry (Kunshan) Vice Chairperson No
2011
Co. Ltd.Lishan Intelligent
Manufacture Executive Director November 18
Wang Laisheng No
Technology Manager 2020
(Guangdong) Co. Ltd.Dongguan Lide
August 16
Wang Laisheng Precision Industry Co. Chairperson No
2012
Ltd.Xiexun Electronic November 12
Wang Laisheng Chairperson No
(Ji’an) Co. Ltd. 2005
91Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Guangdong Ruixun
August 28
Wang Laisheng Automobile Sales Director No
2025
Service Co. Ltd.Suining Luxshare
January 11
Wang Laisheng Precision Industry Co. Executive Director No
2013
Ltd.Fengshun Luxshare
Wang Laisheng Precision Industry Co. Executive Director July 4 2014 No
Ltd.Luxis Precision
Intelligent Executive Director
Hao Jie July 2 2021 No
Manufacturing Manager
(Kunshan) Co. Ltd.Rf Micro Devices Director General
Hao Jie July 9 2024 No
(Beijing) Co. Ltd. Manager
Luxix Technology Executive Director
Hao Jie May 26 2021 No
(Kunshan) Co. Ltd. Manager
Rf Micro Devices
Hao Jie Executive Director May 21 2024 No
(Dezhou) Co. Ltd.
Luxsan Precision
Intelligent Executive Director
Hao Jie June 19 2023 No
Manufacturing Manager
(Shantou) Co. Ltd.Guangzhou Yuexiu
September 13
Liu Zhonghua Capital Holdings Group Independent Director July 18 2022 Yes
2026
Co. Ltd.Guangdong Guangzhou August 15 August 15
Liu Zhonghua Independent Director Yes
Daily Media Co. Ltd. 2025 2028
Shenzhen Dobot Corp December 20 December 20
Hou Lingling Independent Director Yes
Ltd. 2022 2028
Luxshare Electronic
March 17
Wu Tiansong Technology (Kunshan) Supervisor No
2014
Ltd.Huzhou Jiuding October 12
Wu Tiansong Director No
Electronic Co. Ltd. 2012
Note to positions
held in other None
entities
Punishments imposed by securities regulatory authorities on current and resigned directors and senior management personnel of the
Company in the past three years during the Reporting Period
□ Applicable □Not applicable
92Luxshare Precision Industry Co. Ltd. 2025 Annual Report
3. Remuneration of directors and senior management personnel
Decision-making procedures determination basis and actual payment of remuneration for directors and senior management personnel
Decision-making procedures for
The proposal is put forward by the Remuneration and Appraisal Committee and
the remuneration of directors
submitted to the Board of Directors and the Shareholders’ Meeting for deliberation
and senior management
and approval before implementation.personnel
Basis for determining the
Determined based on a combination of factors such as operating conditions industry
remuneration of directors and
levels and the responsibilities undertaken.senior management personnel
1. Directors of the Company who also hold management positions in the Company
shall receive remuneration based on their management positions and shall not receive
any additional directors’ allowances. Directors who do not hold management positions
shall be remunerated in accordance with the contracts signed with them.
2. All independent directors of the Company are subject to a fixed allowance system
with the allowance standard set at RMB160000 per year (pre-tax) paid on an annual
basis. Reasonable expenses incurred by independent directors in the performance of
their duties shall be borne by the Company.
3. Employee representative supervisors who concurrently hold other positions in the
Company and supervisors elected by the Shareholders’ Meeting shall not receive any
Actual payment of remuneration additional remuneration or allowances from the Company by virtue of their positions
to directors and senior as supervisors. Their remuneration shall be paid in accordance with the salary
management personnel provisions for the positions they actually hold and the specific payment arrangements
shall be governed by the labor contracts signed with them.
4. The Company’s senior management personnel are subject to an annual salary
system and their remuneration consists of base annual salary and year-end bonus. The
base annual salary is determined based on the salary level of the industry job
responsibilities and performance of duties with reference to the positions they
actually hold and is in principle paid monthly. The specific payment arrangements
shall be governed by the labor contracts signed with them. The year-end bonus shall
be paid upon review by the Remuneration and Appraisal Committee and approval by
the Board of Directors based on the completion of the annual business performance
assessment targets and the results of individual performance appraisal.Composition of remuneration The disclosure basis for the remuneration amounts of directors and senior
for directors and senior management personnel for 2025 is the annual cash remuneration attributable to the
management personnel current reporting period on an accrual basis.Remuneration of directors and senior management personnel for the Reporting Period
Unit: RMB10000
Whether
Total pre-tax
remuneration is
Incumbent/Fo remuneration
Name Gender Age Title obtained from
rmer from the
related parties
Company
of the Company
Chairperson
Wang Laichun Female 59 Incumbent 800 No
General Manager
Wang Laisheng Male 62 Vice Chairperson Incumbent 600 No
Director Deputy
Qian Jiwen Male 52 Incumbent 200 No
General Manager
93Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Director Deputy
Hao Jie Male 44 Incumbent 213.67 No
General Manager
Employee
Chen Weihang Male 31 Representative Incumbent 10.08 No
Director
Independent
Hou Lingling Female 51 Incumbent 16 No
Director
Independent
Liu Zhonghua Male 61 Incumbent 16 No
Director
Independent
Song Yuhong Female 55 Incumbent 16 No
Director
Xiao Yunxi Female 39 Board Secretary Incumbent 33.07 No
Chief Financial
Wu Tiansong Male 56 Incumbent 199.73 No
Officer
Total -- -- -- -- 2104.55 --
The remuneration of directors and senior management personnel
is determined in accordance with the Announcement on
Confirming the 2024 Remuneration and the 2025 Remuneration
Appraisal basis for actual remuneration of all directors and Plan for Directors Supervisors and Senior Management
senior management personnel at the end of the Reporting Period Personnel reviewed and approved by the 2024 Shareholders’
Meeting as well as the Company’s specific rules and
regulations remuneration system and performance appraisal
system.Progress of appraisal for actual remuneration of all directors and
Completed
senior management personnel at the end of the Reporting Period
Deferred payment arrangements for the actual remuneration of
all directors and senior management personnel at the end of the N/A
Reporting Period
Payment suspension or recourse for the actual remuneration of
all directors and senior management personnel at the end of the N/A
Reporting Period
Other notes:
□Applicable □ Not applicable
1. The disclosed basis for the total pre-tax remuneration from the Company is the annual cash remuneration attributable to the Reporting
Period on an accrual basis including basic salary performance-based salary and allowances and subsidies for positions or posts etc.(excluding non-cash remuneration such as equity incentives and accrued but unpaid remuneration attributable to previous years).
2. On July 23 2025 the Company convened an employee representatives’ congress and elected Mr. Chen Weihang as the employee
representative director of the sixth session of the Board of Directors. The above table discloses the total pre-tax remuneration received
by Mr. Chen Weihang during his tenure as an employee representative director of the Company.V. Performance of Duties by Directors during the Reporting Period
1. Attendance of directors at Board meetings and shareholders’ meetings
94Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Attendance of directors at Board meetings and shareholders’ meetings
Number of
Number of Whether the
Total number of Board Number of
Number of Board director has Number of
Board meetings meetings Board
on-site Board meetings failed to attend shareholders’
Director the director was attended by meetings the
meetings attended two meetings
eligible to way of director failed
attended through a consecutive attended
attend telecommunic to attend
proxy Board meetings
ation
Wang
15 2 12 0 1 No 6
Laichun
Wang
15 2 13 0 0 No 6
Laisheng
Qian Jiwen 15 1 14 0 0 No 6
Hao Jie 15 1 14 0 0 No 6
Chen
7 7 0 0 0 No 2
Weihang
Liu
15 3 12 0 0 No 6
Zhonghua
Hou
15 2 13 0 0 No 6
Lingling
Song
15 2 13 0 0 No 6
Yuhong
Explanation for absence from two consecutive Board meetings
N/A
2. Objections raised by directors on matters of the Company
Whether any directors have raised any objections on matters of the Company
□ Yes □No
Directors did not raise any objections on matters of the Company during the Reporting Period.
3. Other information about the performance of duties by directors
Whether suggestions from directors on the Company have been adopted
□Yes □ No
Explanation on adopting or not adopting the suggestions from directors on the Company
During the Reporting Period all directors of the Company strictly performed their duties in accordance with the relevant provisions of
the Company Law the Securities Law the Code of Corporate Governance of Listed Companies the Articles of Association the Rules
of Procedure for Board Meetings and other applicable regulations actively attended Board meetings and shareholders’ meetings and
diligently fulfilled their responsibilities. Based on the Company’s actual circumstances all directors proactively paid attention to
information on the Company’s operation and management financial position significant events and other aspects. They engaged in
in-depth discussions on all proposals submitted to the Board of Directors for deliberation and put forward relevant opinions on the
Company’s major governance and operational decisions. After thorough communication and discussion they reached a consensus to
ensure that decisions are made in a scientific timely and efficient manner and to supervise and drive the execution of Board resolutions.All directors of the Company actively implemented the resolutions of the shareholders’ meetings and the Board meetings and
safeguarded the legitimate rights and interests of the Company and all shareholders. The Company will continue to improve its
governance structure further enhance the scientific decision-making level of the Board of Directors and its special committees give
95Luxshare Precision Industry Co. Ltd. 2025 Annual Report
full play to the role of independent directors in corporate governance and promote the Company’s standardized operations and
sustained sound development.VI. Performance of Duties by Special Committees under the Board of Directors during the Reporting Period
Other Specific
Important
Number of information situations
Convening opinions and
Committee Members meetings Meeting content about the of
date suggestions
convened performance of objections
raised
duties (if any)
Liu Zhonghua Reviewed the Proposal on
Audit January 21
Song Yuhong 8 Changing the Company’s No objection N/A N/A
Committee 2025
Hou Lingling Signing Accountant
Liu Zhonghua
Audit April 16 Reviewed the First Draft of the
Song Yuhong 8 No objection N/A N/A
Committee 2025 2024 Annual Audit Report
Hou Lingling
Reviewed the 2024 Internal
Control Audit Report the
Annual Report 2024 and
Liu Zhonghua
Audit April 25 Annual Report Summary the
Song Yuhong 8 No objection N/A N/A
Committee 2025 Proposal on the Re-
Hou Lingling
Appointment of the Accounting
Firm and the First Quarter
Report 2025
Reviewed the Proposal on the
Liu Zhonghua
Audit July 23 Engagement of an Audit Firm
Song Yuhong 8 No objection N/A N/A
Committee 2025 for the Issuance and Listing of
Hou Lingling
H Shares of the Company
Reviewed the Proposal on
Liu Zhonghua Adjusting the Exercise Prices of
Audit August 10
Song Yuhong 8 the Stock Option Incentive No objection N/A N/A
Committee 2025
Hou Lingling Plans for 2019 2021 2022 and
2025
Liu Zhonghua
Audit August 25 Reviewed the Interim Report
Song Yuhong 8 No objection N/A N/A
Committee 2025 2025
Hou Lingling
Liu Zhonghua
Audit October 30 Reviewed the Third Quarter
Song Yuhong 8 No objection N/A N/A
Committee 2025 Report 2025
Hou Lingling
Reviewed the Proposal on the
Expected Increase in Routine
Related-Party Transactions of
the Company for 2025 the
Liu Zhonghua
Audit December 1 Proposal on the Expected
Song Yuhong 8 No objection N/A N/A
Committee 2025 Routine Related-Party
Hou Lingling
Transactions of the Company
for 2026 and the Proposal on
the Expected External
Guarantee Quota for 2026
Reviewed the Proposal on the
Remunerat Song Yuhong March 13
Hou Lingling 8 Fulfillment of the Exercise ion and No objection N/A N/A 2025
Liu Zhonghua Conditions for the Fifth Appraisal
Exercise Period under the
96Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Committee Reserved Grant of the 2019
Stock Option Incentive Plan and
the Proposal on Adjusting the
Number of Options Exercisable
under the Reserved Grant of the
2019 Stock Option Incentive
Plan and Canceling Certain
Stock Options
Reviewed the Proposal on
Confirming the 2024
Remuneration and the 2025
Remunerat
Song Yuhong Remuneration Plan for
ion and April 25
Hou Lingling 8 Directors and the Proposal on No objection N/A N/A
Appraisal 2025
Liu Zhonghua Confirming the 2024
Committee
Remuneration and the 2025
Remuneration Plan for Senior
Management Personnel
Reviewed the Proposal on the
Fulfillment of the Exercise
Conditions for the Second
Exercise Period under the 2022
Stock Option Incentive Plan
Remunerat the Proposal on Adjusting the
Song Yuhong
ion and April 27 Number of Options Exercisable
Hou Lingling 8 No objection N/A N/A
Appraisal 2025 under the 2022 Stock Option
Liu Zhonghua
Committee Incentive Plan and Canceling
Certain Stock Options and the
Proposal on the 2025 Stock
Option Incentive Plan (Draft) of
Luxshare Precision Industry
Co. Ltd. and Its Summary
Reviewed the Proposal on the
Remunerat
Song Yuhong Cancellation of Vested but
ion and May 16
Hou Lingling 8 Expired and Unexercised Stock No objection N/A N/A
Appraisal 2025
Liu Zhonghua Options under the Company’s
Committee
Stock Option Incentive Plan
Reviewed the Proposal on
Remunerat
Song Yuhong Granting Stock Options to
ion and May 23
Hou Lingling 8 Incentive Recipients under the No objection N/A N/A
Appraisal 2025
Liu Zhonghua 2025 Stock Option Incentive
Committee
Plan
Reviewed the Proposal on
Remunerat
Song Yuhong Adjusting the Exercise Prices of
ion and August 11
Hou Lingling 8 the Stock Option Incentive No objection N/A N/A
Appraisal 2025
Liu Zhonghua Plans for 2019 2021 2022 and
Committee
2025
Reviewed the Proposal on
Adjusting the Number of
Exercisable Options under the
Remunerat Reserved Grant of the 2021
Song Yuhong
ion and October 30 Stock Option Incentive Plan
Hou Lingling 8 No objection N/A N/A
Appraisal 2025 and Canceling Certain Stock
Liu Zhonghua
Committee Options and the Proposal on the
Fulfillment of the Exercise
Conditions for the Third
Exercise Period under the
Reserved Grant of the 2021
97Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Stock Option Incentive Plan
Reviewed the Proposal on
Granting Stock Options to
Remunerat
Song Yuhong Incentive Recipients under the
ion and November
Hou Lingling 8 Reserved Grant of the 2025 No objection N/A N/A
Appraisal 23 2025
Liu Zhonghua Stock Option Incentive Plan of
Committee
Luxshare Precision Industry
Co. Ltd.Reviewed the Proposal on the
Hou Lingling Company’s Double Materiality
Strategy Wang April 15 Assessment of Sustainable
2 No objection N/A N/A
Committee Laichun Liu 2025 Development Topics and
Zhonghua Review of Progress on Key
Targets
Reviewed the Proposal on the
Plan for the Company’s
Issuance of H Shares and
Listing on the Main Board of
the Stock Exchange of Hong
Hou Lingling
Kong Limited the Proposal on
Strategy Wang July 22
2 the Plan for the Use of Proceeds No objection N/A N/A
Committee Laichun Liu 2025
from the Company’s Issuance of
Zhonghua
H Shares and the Proposal on
the Validity Period of the
Resolution on the Company’s
Overseas Public Offering and
Listing of H Shares
Hou Lingling
Nominatio
Wang July 22 Reviewed the Proposal on
n 1 No objection N/A N/A
Laichun Song 2025 Confirming Director Roles
Committee
Yuhong
VII. Performance of Duties by the Audit Committee
Whether the Audit Committee has identified any risk to the Company during its supervision during the Reporting Period.□ Yes □No
The Audit Committee raised no objections on supervised matters during the Reporting Period.VIII. Employees
1. Number professional structure and education level of employees
Number of in-service employees of the Company at the end of
879
the Reporting Period
Number of in-service employees of the Company’s major
415318
subsidiaries at the end of the Reporting Period
Total number of in-service employees at the end of the Reporting
416197
Period
Total number of remunerated employees of the current
416197
Reporting Period
Number of resigned and retired employees with expenses borne
0
by the parent company and major subsidiaries
98Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Professional structure
Type Number
Production personnel 336037
Sales personnel 8358
Technical personnel 48765
Financial personnel 946
Administrative personnel 8357
Management personnel 13734
Total 416197
Education background
Type Number
Bachelor’s degree and above 45782
Junior college degree 49944
High school secondary specialized school and below 320471
Total 416197
2. Remuneration policy
In strict compliance with relevant laws and regulations the Company has formulated the Group’s remuneration management measures
covering employee wages performance-based pay and year-end bonuses providing employees with competitive remuneration
packages in a scientific and reasonable manner. In addition the Company has developed a comprehensive employee remuneration
management system contributes to pension insurance medical insurance work injury insurance unemployment insurance maternity
insurance and housing provident fund for employees pays employee salaries on time and resolutely prohibits any form of debt bondage
labor. To help employees better understand the alignment between their job responsibilities and their own capabilities the Company
has established a multidimensional performance appraisal system that includes both employee self-assessments and supervisor
evaluations thereby reflecting employees’ annual performance objectively and comprehensively. Each year the Company carried out
annual employee performance communication activities to ensure that every employee’s career development at Luxshare-ICT received
sufficient support and resources thereby enhancing and optimizing each employee’s work experience. The Company offered a diverse
remuneration structure for employees including year-end bonuses project awards equity incentives for key management personnel
and outstanding employee awards. During the Reporting Period the Company continuously optimized performance appraisal practices
fully evaluated team and individual work performance effectively enhanced employees’ execution and sense of responsibility helped
retain and attract outstanding talent and provided human resources support for the Company’s development.
3. Training plan
The Company places great importance on employees’ career planning and is committed to talent development. It has established a
comprehensive talent development system to attract and motivate more outstanding talent and promote the joint growth of employees
and the Group. The Company has built an integrated online and offline learning platform and carried out multidimensional distinctive
training programs for different types of employees and new projects. Relying on the platform the Company provides targeted tiered
and categorized training for all employees and launches different training series based on different groups and different needs. For
example for senior middle and junior management personnel as well as key high-potential reserve talent we primarily offer the
“Star-Making Series” training to build an efficient and dynamic workforce; for talent in key areas such as production and manufacturing
R&D technology marketing and supply chain we primarily offer the “Energy-Gathering Series” training to continuously improve the
professional capabilities of employees in different positions. In addition school-enterprise cooperation programs have been launched
to encourage employees to obtain professional qualification recognition from the organization and society thereby improving the
99Luxshare Precision Industry Co. Ltd. 2025 Annual Report
overall production standards and social recognition of the Company. At the same time we have made every effort to build the
“Momentum-Building Series” and established learning and exchange platforms such as “Star Classroom” and “Executive Forum”
providing outstanding Luxshare employees with a stage to showcase themselves thereby fostering a positive learning atmosphere and
promoting integration and exchange among all employees. In addition to support the effective implementation of the Company’s key
strategies and reforms during specific periods we carried out the “Fusion Series” training based on business needs. To standardize
employee training management the Company has formulated and regularly updated the Training Management Measures and the
Internal Trainer Management Measures clarifying a training system covering all stages including employee onboarding job
assignment on-the-job development job transfer and promotion. In accordance with the Group’s management standards each plant
has formulated the Education and Training Management Procedures and corresponding management measures. Based on their
respective annual development plans each plant has formulated annual training plans for the plant and all departments effectively
enhancing the core competitiveness of employees and the enterprise and achieving a win-win goal of improving employees’ own
professional capabilities and the Company’s sustainable development.
4. Labor outsourcing
□ Applicable □Not applicable
IX. Profit Distribution and Transfer of Reserve to Share Capital of the Company
Formulation execution and adjustments of the profit distribution policies especially the cash dividend distribution policy during the
Reporting Period
□Applicable □ Not applicable
The annual profit distribution plan for 2024 was reviewed and approved by the Shareholders’ Meeting: Based on the total share capital
of 7247395805 shares a cash dividend of RMB2 (tax inclusive) was distributed for every 10 shares to all shareholders totaling
RMB1449479161 (tax inclusive) in cash dividends. The remaining retained earning will be carried forward to subsequent years for
distribution.From the disclosure of the 2024 annual profit distribution plan to the date of this announcement the Company’s share capital increased
by 4619962 shares due to the independent exercise under the stock option incentive plan and the conversion of convertible corporate
bonds into shares. As a result the Company’s total share capital increased from 7247395805 shares at the time of disclosure of the
plan to 7252015767 shares. In accordance with the principle of maintaining the total distribution amount unchanged the Company’s
2024 annual profit distribution plan was adjusted to: Based on the Company’s existing share capital of 7252015767 shares a cash
dividend of RMB1.998725 (tax inclusive) for every 10 shares will be distributed to all shareholders totaling RMB1449478521.39
(tax inclusive) and the remaining retained earning will be carried forward to subsequent years for distribution.The profit distribution plan for the first three quarters of 2025 was reviewed and approved by the Shareholders’ Meeting: Based on the
total share capital of 7282103432 shares a cash dividend of RMB1.60 (tax inclusive) for every 10 shares will be distributed to all
shareholders totaling RMB1165136549.12 (tax inclusive). The remaining retained earning will be carried forward for distribution
in subsequent years.From the disclosure of the profit distribution plan for the first three quarters of 2025 to its implementation the Company’s share capital
increased by 3881111 shares due to the independent exercise under the stock option incentive plan and the conversion of convertible
corporate bonds into shares. As a result the Company’s total share capital increased from 7282103432 shares at the time of the
disclosure of the plan to 7285984543 shares. In accordance with the principle of maintaining the total distribution amount unchanged
the Company’s profit distribution plan for the first three quarters of 2025 was adjusted to: Based on the Company’s existing share
capital of 7285984543 shares a cash dividend of RMB1.599147 (tax inclusive) will be distributed for every 10 shares to all
shareholders totaling RMB1165136032.40 (tax inclusive) and the remaining retained earning will be carried forward to subsequent
years for distribution.Special Statement on the Cash Dividend Policy
Whether the policy complies with the Company’s Articles of
Yes
Association and the resolution of the Shareholders’ Meeting:
Whether the dividend standard and ratio are specific and clear: Yes
Whether the relevant decision-making procedures and
Yes
mechanisms are complete:
Whether the independent directors have tried their best to
Yes
perform their duties and duly fulfilled their roles:
If the Company has not distributed cash dividends it should N/A
disclose the specific reasons and the measures it plans to take in
100Luxshare Precision Industry Co. Ltd. 2025 Annual Report
the next step to enhance investor returns:
Whether the minority shareholders have sufficient opportunities
to express their views and appeals and whether their legitimate Yes
rights and interests are adequately protected:
In case of adjustment to or change in the cash dividend
distribution policy whether the conditions and procedures are in Yes
line with applicable regulations and transparent:
The Company has not proposed a cash dividend distribution plan during the Reporting Period when profits are made and the parent
company’s profit distributable to shareholders remains positive
□ Applicable □Not applicable
Information on profit distribution and the conversion of capital reserves into the share capital during the Reporting Period
□Applicable □ Not applicable
Number of bonus shares to be distributed for every 10 shares
0
(share)
Amount of dividend for every 10 shares (RMB) (tax inclusive) 1.4
Base capital shares for profit distribution plan (shares) 7276084264
Cash dividend amount (RMB) (tax inclusive) 1.40
Cash dividend amount in other forms (e.g. repurchase of shares)
0.00
(RMB)
Total cash dividend amount (including other forms) (RMB) 1018651796.96
Distributable profit (RMB) 10426650904.11
Proportion of the total cash dividend amount (including other
100%
forms) to the total profit distribution amount
Particulars on the Cash Dividends
Others
Detailed Note on the Plan for Profit Distribution or the Conversion of Capital Reserve into the Share Capital
The profit distribution plan for 2025 is as follows: Based on the Company’s total share capital of 7285984864 shares as at the date
of this announcement minus the 9900600 shares held in the Company’s repurchase special account resulting in a base of
7276084264 shares the Company will distribute a cash dividend of RMB1.4 (tax inclusive) for every 10 shares to all shareholders
totaling RMB1018651796.96 (tax inclusive) and the remaining retained earning will be carried forward to subsequent years for
distribution.If from the disclosure date of this announcement to the equity registration date for the implementation of the equity distribution
the total share capital of the Company changes due to share repurchases exercise by equity incentive recipients repurchase and
cancellation of shares in connection with a major asset restructuring or other reasons the Company will adjust the distribution ratio
per share accordingly under the principle of maintaining the total distribution amount unchanged.X. Implementation of the Equity Incentive Plan Employee Stock Ownership Plans or Other Employee Incentive Measures
□Applicable □ Not applicable
1. Equity incentives
101Luxshare Precision Industry Co. Ltd. 2025 Annual Report
I. Stock option incentives
i. 2019 Stock Option Incentive Plan
1. On March 13 2025 the Company convened the ninth meeting of the sixth session of the Board of Directors and the eighth meeting
of the sixth session of the Board of Supervisors at which it reviewed and approved the Proposal on Adjusting the Number of Exercisable
Options under the Reserved Grant of the 2019 Stock Option Incentive Plan and Canceling Certain Stock Options and the Proposal on
the Fulfillment of the Exercise Conditions for the Fifth Exercise Period under the Reserved Grant of the 2019 Stock Option Incentive
Plan. In accordance with relevant provisions including the Administrative Measures for Equity Incentive of Listed Companies the
Company’s 2019 Stock Option Incentive Plan (Draft) and the Management Measures for the Implementation Assessment of the 2019
Stock Option Incentive Plan and pursuant to the authorization granted at the Company’s first extraordinary general meeting of 2019
it was agreed to cancel part of the options granted under the reserved grant of the 2019 Stock Option Incentive Plan due to reasons
such as the departure of incentive recipients and failure to meet assessment standards. After the cancellation the number of incentive
recipients was adjusted from 214 to 207 and the remaining number of stock options was adjusted from 3587635 to 3249094. At the
same time based on the Company’s achieved performance in 2023 and the results of each incentive recipient’s performance appraisal
in 2023 the Board of Directors held that the exercise conditions for the fifth exercise period under the reserved grant of the Company’s
2019 Stock Option Incentive Plan had been fulfilled and agreed that the 207 incentive recipients under the reserved grant of the
Company’s 2019 Stock Option Incentive Plan may exercise their options independently during the fifth exercise period. The expected
number of stock options to be exercised is 3249094 (the actual number of exercised options shall be subject to the registration by
Shenzhen Branch of China Securities Depository and Clearing Corporation Limited) and the exercise price is RMB13.05/share. Han
Kun Law Offices (Shenzhen) issued the Legal Opinion of Han Kun Law Offices (Shenzhen) on the Adjustment to the Number of
Exercisable Options Granted under the Reserved Grant of the 2019 Stock Option Incentive Plan Cancellation of Certain Stock Options
and Fulfillment of the Exercise Conditions for the Fifth Exercise Period under the Reserved Grant of Luxshare Precision Industry Co.Ltd.
2. On August 11 2025 the Company convened the 16th meeting of the sixth session of the Board of Directors at which the Proposal
on Adjusting the Exercise Prices of the Stock Option Incentive Plans for 2019 2021 2022 and 2025 was reviewed and approved. In
accordance with relevant provisions including the Administrative Measures for Equity Incentive of Listed Companies the Company’s
2019 Stock Option Incentive Plan (Draft) and the Management Measures for the Implementation Assessment of the 2019 Stock Option
Incentive Plan and pursuant to the authorization granted at the Company’s first extraordinary general meeting of 2019 it was agreed
to adjust the exercise price under the 2019 Stock Option Incentive Plan due to the implementation of the 2024 annual equity distribution
plan. After the adjustment the exercise price of the stock options granted initially and reserved for grant was adjusted from
RMB13.05/share to RMB12.85/share. The above matter has been reviewed and approved at a special meeting of the independent
directors and Han Kun Law Offices (Shenzhen) issued the Legal Opinion of Han Kun Law Offices (Shenzhen) on the Adjustment of
the Exercise Price under the 2019 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd.ii. 2021 Stock Option Incentive Plan
1. On August 11 2025 the Company convened the 16th meeting of the sixth session of the Board of Directors at which the Proposal
on Adjusting the Exercise Prices of the Stock Option Incentive Plans for 2019 2021 2022 and 2025 was reviewed and approved. In
accordance with relevant provisions including the Administrative Measures for Equity Incentive of Listed Companies the Company’s
2021 Stock Option Incentive Plan (Draft) and the Management Measures for the Implementation Assessment of the 2021 Stock Option
Incentive Plan and pursuant to the authorization granted at the Company’s first extraordinary general meeting of 2021 it was agreed
to adjust the exercise price under the 2021 Stock Option Incentive Plan due to the implementation of the 2024 annual equity distribution
plan. After the adjustment the exercise price of the stock options granted initially and reserved for grant was adjusted from
RMB35.33/share to RMB35.13/share. The above matter has been reviewed and approved at a special meeting of the independent
directors and Han Kun Law Offices (Shenzhen) issued the Legal Opinion of Han Kun Law Offices (Shenzhen) on the Adjustment of
the Exercise Price under the 2021 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd.iii. 2022 Stock Option Incentive Plan
1. On April 27 2025 the Company convened the 12th meeting of the sixth session of the Board of Directors and the 11th meeting of
the sixth session of the Board of Supervisors at which it reviewed and approved the Proposal on Adjusting the Number of Options
Exercisable under the 2022 Stock Option Incentive Plan and Canceling Certain Stock Options and the Proposal on the Fulfillment of
the Exercise Conditions for the Second Exercise Period under the 2022 Stock Option Incentive Plan. In accordance with relevant
provisions including the Administrative Measures for Equity Incentive of Listed Companies the Company’s 2022 Stock Option
Incentive Plan (Draft) and the Management Measures for the Implementation Assessment of the 2022 Stock Option Incentive Plan
and pursuant to the authorization granted at the Company’s third extraordinary shareholders’ meeting of 2022 it was agreed to cancel
part of the options of the 2022 Stock Option Incentive Plan due to reasons such as the departure of incentive recipients and failure to
meet assessment standards. After the cancellation the number of incentive recipients was adjusted from 3220 to 3080 and the number
of stock options unlocked in the second tranche was adjusted from 31710140 to 30117800. At the same time based on the Company’s
achieved performance in 2024 and the results of each incentive recipient’s performance appraisal in 2024 the Board of Directors held
that the exercise conditions for the second exercise period of the Company’s 2022 Stock Option Incentive Plan had been fulfilled and
agreed that the 3076 incentive recipients of the Company’s 2022 Stock Option Incentive Plan may exercise their options independently
during the second exercise period. The expected number of stock options to be exercised is 30117800 (the actual number of exercised
options shall be subject to the registration by Shenzhen Branch of China Securities Depository and Clearing Corporation Limited) and
the exercise price is RMB29.92/share. Han Kun Law Offices (Shenzhen) issued the Legal Opinion of Han Kun Law Offices (Shenzhen)
on the Adjustment to the Number of Exercisable Options of the 2022 Stock Option Incentive Plan Cancellation of Certain Options
and Fulfillment of the Exercise Conditions for the Second Exercise Period of Luxshare Precision Industry Co. Ltd.
102Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. On August 11 2025 the Company convened the 16th meeting of the sixth session of the Board of Directors at which the Proposal
on Adjusting the Exercise Prices of the Stock Option Incentive Plans for 2019 2021 2022 and 2025 was reviewed and approved. In
accordance with relevant provisions including the Administrative Measures for Equity Incentive of Listed Companies the Company’s
2022 Stock Option Incentive Plan (Draft) and the Management Measures for the Implementation Assessment of the 2022 Stock Option
Incentive Plan and pursuant to the authorization granted at the Company’s third extraordinary shareholders’ meeting of 2022 it was
agreed to adjust the exercise price under the 2022 Stock Option Incentive Plan due to the implementation of the 2024 annual equity
distribution plan. After the adjustment the exercise price of the granted stock options was adjusted from RMB29.92/share to
RMB29.72/share. The above matter has been reviewed and approved at a special meeting of the independent directors and Han Kun
Law Offices (Shenzhen) issued the Legal Opinion of Han Kun Law Offices (Shenzhen) on the Adjustment of the Exercise Price under
the 2022 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd.iv. 2025 Stock Option Incentive Plan
1. On April 27 2025 the Company convened the 12th meeting of the sixth session of the Board of Directors at which it reviewed and
approved the Proposal on the 2025 Stock Option Incentive Plan (Draft) of Luxshare Precision Industry Co. Ltd. and Its Summary the
Proposal on Formulating the Management Measures for the Implementation Assessment of the 2025 Stock Option Incentive Plan of
Luxshare Precision Industry Co. Ltd. and the Proposal on Requesting the Shareholders’ Meeting to Authorize the Board of Directors
to Handle Matters Related to the 2025 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd. The relevant proposals
had been reviewed and approved at the third meeting of the Remuneration and Appraisal Committee of the sixth session of the Board
of Directors.On the same day the Company convened the 11th meeting of the sixth session of the Board of Supervisors at which it reviewed and
approved the Proposal on the 2025 Stock Option Incentive Plan (Draft) of Luxshare Precision Industry Co. Ltd. and Its Summary the
Proposal on Formulating the Management Measures for the Implementation Assessment of the 2025 Stock Option Incentive Plan of
Luxshare Precision Industry Co. Ltd. and the Proposal on Verifying the List of Incentive Recipients under the 2025 Stock Option
Incentive Plan (Draft) of Luxshare Precision Industry Co. Ltd.
2. From April 28 2025 to May 7 2025 the Company internally publicized the names and positions of the incentive recipients proposed
to be granted for the first time under this incentive plan. As of the expiry of the public notice period the Board of Supervisors had not
received any objections regarding the incentive recipients proposed to be granted for the first time under this incentive plan. On May
8 2025 the Company disclosed the Review Opinions of the Board of Supervisors of Luxshare Precision Industry Co. Ltd. on the List
of Incentive Recipients for the Initial Grant under the Company’s 2025 Stock Option Incentive Plan and Explanation of the Public
Notice.
3. On May 13 2025 the Company convened the second extraordinary shareholders’ meeting of 2025 at which it reviewed and
approved the Proposal on the 2025 Stock Option Incentive Plan (Draft) of Luxshare Precision Industry Co. Ltd. and Its Summary the
Proposal on Formulating the Management Measures for the Implementation Assessment of the 2025 Stock Option Incentive Plan of
Luxshare Precision Industry Co. Ltd. and the Proposal on Requesting the Shareholders’ Meeting to Authorize the Board of Directors
to Handle Matters Related to the 2025 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd. The implementation of
this incentive plan was approved by the Shareholders’ Meeting and the Board of Directors was authorized to determine the grant date
of the stock options grant stock options to incentive recipients when the relevant conditions are satisfied and handle all matters
necessary for the grant of stock options.
4. On May 14 2025 the Company disclosed the Self-Inspection Report of Luxshare Precision Industry Co. Ltd. on Trading in
Company Shares by Insiders with Access to Inside Information and Incentive Recipients under the 2025 Stock Option Incentive Plan.
5. On May 23 2025 the Company convened the 14th meeting of the sixth session of the Board of Directors and the 13th meeting of
the sixth session of the Board of Supervisors at which the Proposal on Granting Stock Options to Incentive Recipients under the Initial
Grant of the 2025 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd. was reviewed and approved. The aforesaid
proposal had been reviewed and approved at the fifth meeting of the Remuneration and Appraisal Committee of the sixth session of
the Board of Directors. The Board of Supervisors verified the list of incentive recipients for the initial grant under the incentive plan
and issued its affirmative opinion.
6. On August 11 2025 the Company convened the 16th meeting of the sixth session of the Board of Directors at which the Proposal
on Adjusting the Exercise Prices of the Stock Option Incentive Plans for 2019 2021 2022 and 2025 was reviewed and approved. In
accordance with relevant provisions including the Administrative Measures for Equity Incentive of Listed Companies the 2025 Stock
Option Incentive Plan of Luxshare Precision Industry Co. Ltd. (Draft) and the Management Measures for the Implementation
Assessment of the 2025 Stock Option Incentive Plan and pursuant to the authorization granted at the Company’s second extraordinary
shareholders’ meeting of 2025 it was agreed to adjust the exercise price under the 2025 Stock Option Incentive Plan due to the
implementation of the 2024 annual equity distribution plan. After the adjustment the exercise price of the granted stock options was
adjusted from RMB25.35/share to RMB25.15/share. The above matter has been reviewed and approved at a special meeting of the
independent directors and Han Kun Law Offices (Shenzhen) issued the Legal Opinion of Han Kun Law Offices (Shenzhen) on the
Adjustment of the Exercise Price under the 2025 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd.
7. On November 23 2025 the Company convened the 19th meeting of the sixth session of the Board of Directors at which the Proposal
on Granting Stock Options to Incentive Recipients under the Reserved Grant of the 2025 Stock Option Incentive Plan of Luxshare
Precision Industry Co. Ltd. was reviewed and approved. The aforesaid proposal had been reviewed and approved at the eighth meeting
of the Remuneration and Appraisal Committee of the sixth session of the Board of Directors in 2025 which verified the list of incentive
recipients for the reserved grant and issued its affirmative opinion.
103Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Equity incentives for directors supervisors and senior management personnel during the Reporting Period
□Applicable □ Not applicable
Unit: Share
Number
Exercise Number of Number of
Number of Number of of
Number of price restricted new
Number of new stock Options stock Market price Number of restricted
exercisable (RMB/share stocks held restricted Grant price of
stock options exercised options held at end of the unlocked stocks
options ) for options at the stocks restricted
Name Title options held granted during the at the end of Reporting stocks held at
during the exercised beginning granted stocks
at year during the Reporting the Period during the the end of
Reporting during the of the during the (RMB/share)
beginning Reporting Period Reporting (RMB/share) period the
Period Reporting Reporting Reporting
Period Period Reporting
Period Period Period
Period
Director
Deputy
Hao Jie 935197 2685000 335197 135197 13.05 3285000 56.71 0 0 0 0 0
General
Manager
Director
Deputy
Qian Jiwen 337992 337992 337992 13.05 0 56.71 0 0 0 0 0
General
Manager
Director
Deputy
Qian Jiwen 1032000 2500000 258000 258000 29.72 3274000 56.71 0 0 0 0 0
General
Manager
Employee
Representati
ve Director
Chen
Securities 16000 80000 4000 4000 29.72 92000 56.71 0 0 0 0 0
Weihang
Affairs
Representati
ve
Board
Xiao Yunxi 80000 150000 20000 20000 29.72 210000 56.71 0 0 0 0 0
Secretary
Chief
Wu
Financial 25197 25197 25197 13.05 0 56.71 0 0 0 0 0
Tiansong
Officer
Chief
Wu
Financial 320000 500000 80000 60000 29.72 740000 56.71 0 0 0 0 0
Tiansong
Officer
Total -- 2746386 5915000 1060386 840386 -- 7601000 -- 0 0 0 -- 0
1. Mr. Hao Jie Director and Deputy General Manager had 200000 stock options during the Reporting Period which were cancelled upon expiry due to non-exercise.
Note (if any)
2. Chief Financial Officer Wu Tiansong had 20000 stock options during the Reporting Period which were cancelled upon expiry due to non-exercise.
Appraisal mechanisms and incentives for senior management personnel
All senior management personnel of the Company are appointed by the Board of Directors. The appointment of senior management
personnel is open and transparent and complies with the provisions of laws and regulations. Senior management personnel are directly
accountable to the Board of Directors and undertake the operational targets assigned by the Board of Directors. The Company has
established an effective incentive and restraint mechanism to encourage senior management personnel to perform their duties diligently
and strive to improve operational management standards and business performance. The work performance of senior management
personnel is directly linked to their remuneration and is assessed based on the targets set by the Company and the actual completion
of tasks. The Remuneration and Appraisal Committee under the Board of Directors is responsible for conducting year-end evaluations
of the completion of responsibilities and targets work competence and duty performance of the Company’s directors and senior
management personnel and formulating remuneration and performance appraisal plans for submission to the Board of Directors for
approval. During the Reporting Period the remuneration and performance appraisal management system for senior management
personnel was effectively implemented.
2. Implementation of employee stock ownership plans
□ Applicable □Not applicable
3. Other employee incentive measures
□ Applicable □Not applicable
104Luxshare Precision Industry Co. Ltd. 2025 Annual Report
XI. Establishment and Execution of the Internal Control System during the Reporting Period
1. Establishment and execution of the internal control system
In strict accordance with the requirements of the Company Law the Securities Law the Basic Standard for Enterprise Internal Control
the Application Guidelines for Enterprise Internal Control and other laws regulations and normative documents the Company has
established a relatively sound internal control management system that has remained continuously effective in operation taking into
account industry characteristics and the Company’s actual operating conditions. Whether at the corporate management level or at the
levels of technology research and development and various business procedures the Company has formulated effective internal control
measures to improve its corporate governance standards and decision-making efficiency provide assurance for lawful and compliant
business operation and management asset security and the authenticity and completeness of financial reports and related information
and effectively promote the steady implementation of corporate strategies.The Company’s internal control system had a sound structure and was able to meet the management and development needs. The
internal control operating mechanism was effective and effective internal controls were maintained in all material respects including
financial reporting and non-financial reporting achieving the intended internal control objectives and safeguarding the interests of the
Company and all shareholders.
2. Material internal control deficiencies identified during the Reporting Period
□ Yes □No
XII. Management and Control of Subsidiaries by the Company during the Reporting Period
Follow-up
Company Integration Problems encountered Settlement
Integration plan Solutions taken settlement
name progress in integration progress
plan
Closing matters
relating to Wiring
Upon completion of the
System (Pune) Private
equity transfer theLimited (“Leonirelevant assetsIndia”): Pursuant to
personnel financial Relevant
the SPA before the
Leoni AG and affairs organizational Completed approval
completion of foreign
its structures business (excluding N/A procedures N/A
investment admission
subsidiaries operations and other Leoni India) have not yet
approval in India all
related aspects shall be been completed
parties to the
incorporated into the
transaction agreed that
Company’s unified
the closing of such
management.entity would be
temporarily deferred.Luxshare Lanto a
subsidiary of the
Company has
filed a request for
The relevant assets of arbitration with
Wingtech Mobile the Singapore
Communications
Upon completion of the International
(India) Private Ltd.equity and asset transfer Arbitration
(“Wingtech India”)
the relevant assets Centre and
Subsidiaries are subject to transfer
personnel financial submitted a notice
The Singapore
related to Completed restrictions including of arbitration International affairs organizational
Wingtech (excluding asset seizure and Arbitration
structures business seeking an award N/A
Technology’s Wingtech freezing making it Centre (SIAC)
operations and other to terminate the
ODM/OEM India) impossible to
related aspects shall be Indian asset
is hearing this
business complete the title transfer case. incorporated into the
transfer procedures.Company’s unified agreement and
As a result the title
management. requesting that
transfer of the relevant Wingtech India
assets has not yet been refund Luxshare
completed. Lanto the
transaction
consideration and
other expenses
already paid
105Luxshare Precision Industry Co. Ltd. 2025 Annual Report
totaling
INR197675339
2.38 equivalent
to approximately
RMB153 million
together with
interest accrued
until the date of
actual payment in
full.Upon completion of the
equity transfer the
relevant assets
Dejinchang personnel financial
Investment affairs organizational
Co. Ltd. and structures business Completed None N/A N/A N/A
its operations and other
subsidiaries related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
equity transfer the
relevant assets
personnel financial
Luxshare affairs organizational
Precision (M) structures business Completed None N/A N/A N/A
Sdn Bhd operations and other
related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
equity transfer the
relevant assets
personnel financial
Slenergy
affairs organizational
Technology
structures business Completed None N/A N/A N/A
(Anhui) Co.
operations and other
Ltd.related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
equity transfer the
relevant assets
Luxcase personnel financial
Precision affairs organizational
Technology structures business Completed None N/A N/A N/A
(Changzhou) operations and other
Co. Ltd. related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
EXCELLOX equity transfer the
INC. relevant assets
Completed None N/A N/A N/A
personnel financial
affairs organizational
106Luxshare Precision Industry Co. Ltd. 2025 Annual Report
structures business
operations and other
related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
equity transfer the
relevant assets
personnel financial
Luxshare
affairs organizational
Precision
structures business Completed None N/A N/A N/A
Mexico S.A.operations and other
de C.V.related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
equity transfer the
relevant assets
Jiaxing personnel financial
Yongrui affairs organizational
Electron structures business Completed None N/A N/A N/A
Technology operations and other
Co. Ltd. related aspects shall be
incorporated into the
Company’s unified
management.Upon completion of the
equity transfer the
relevant assets
Shanghai personnel financial
Luxshare affairs organizational
Information structures business Completed None N/A N/A N/A
Technology operations and other
Co. Ltd. related aspects shall be
incorporated into the
Company’s unified
management.Abnormalities in the management and control of subsidiaries
□ Yes □No
XIII. Internal Control Assessment Report or Internal Control Audit Report
1. Internal control assessment report
Disclosure date of the full internal control assessment
April 15 2026
report
The 2025 Internal Control Assessment Report of Luxshare Precision
Index of disclosure of the full internal control assessment
Industry Co. Ltd. is disclosed on the Company’s designated
report
information disclosure website CNINFO (www.cninfo.com.cn).Ratio of the total assets of the organizations included in the
assessment to the total assets in Company’s consolidated 69.03%
financial statement
Ratio of the operating income of the organizations 74.67%
107Luxshare Precision Industry Co. Ltd. 2025 Annual Report
included in the assessment to the operating revenue in
Company’s consolidated financial statement
Identification Standards for Deficiencies
Category Financial reporting Non-financial reporting
1. Indications of material deficiencies in internal control
over financial reporting include: A. Fraud by directors
supervisors and senior management personnel; B. Material
1. Indications of material deficiencies in internal
internal control deficiencies that have been identified and
control over non-financial reporting include: A.reported to the management but remain uncorrected after a
Serious violations of important national laws and
reasonable period of time; C. An ineffective control
regulations; B. Significant loss of management
environment; D. A material misstatement in the current
personnel and technical personnel in key
period’s financial report is identified by the external audit
positions; C. Lack of institutional control over
but not detected by the internal control as it operated; E.important businesses involving the Company’s
Serious violations of laws and regulations; F. Except for
production and operations or failure of the
losses attributable to policy reasons the Company has
institutional system; D. Failure of internal
incurred losses for consecutive years and its going concern
controls over information disclosure resulting in
is under challenge; G. Ineffective oversight of internal
the Company being publicly censured by
controls by the Company’s management and relevant
regulatory authorities; E. Failure to rectify the
Qualitative functional departments. II. Indications of significant
results of internal control evaluation especially
standards deficiencies in internal control over financial reporting
material deficiencies or significant deficiencies.include: A. Failure to select and apply accounting policies
II. Indications of significant deficiencies in
in accordance with generally accepted accounting
internal control over non-financial reporting
principles; B. Failure to establish anti-fraud procedures and
include: A. Defects in important business
control measures; C. Lack of institutional controls over
systems or procedures and incomplete internal
important business activities or failure of institutional
control systems; B. External information
systems; D. Lack of internal control development in
disclosure is not reviewed and the information
subsidiaries and disorderly management; E. Senior
content is untrue. III. Indications of general
management personnel especially those responsible for
deficiencies in internal control over non-
internal control functions finance and human resources
financial reporting include: Other control
leaving in large numbers being replaced frequently or
deficiencies other than material and significant
experiencing severe staff turnover in key positions. III.deficiencies.Indications of general deficiencies in internal control over
financial reporting include: Other control deficiencies other
than material and significant deficiencies.
1. Material deficiencies: (1) Potential misstatement of
operating revenue: misstatement ≥ 0.5% of total operating
revenue; (2) Potential misstatement of total profit:
misstatement ≥ 5% of total profit; (3) Potential misstatement
of total assets: misstatement ≥ 0.5% of total assets; (4)
Potential misstatement of owners’ equity: misstatement ≥ 1. Material deficiencies: Direct property losses of
0.5% of total owners’ equity; II. Significant deficiencies: (1) more than RMB12 million causing a relatively
Potential misstatement of operating revenue: 0.2% of total significant adverse impact on the Company; II.operating revenue ≤ misstatement < 0.5% of total operating Significant deficiencies: Direct property losses
revenue; (2) Potential misstatement of total profit: 2% of of RMB3 million to RMB12 million subject to
Quantitative total profit ≤ misstatement < 5% of total profit; (3) Potential penalties imposed by national government
standards misstatement of total assets: 0.2% of total assets ≤ authorities but causing no adverse impact on the
misstatement < 0.5% of total assets; (4) Potential Company; III. General deficiencies: Direct
misstatement of owners’ equity: 0.2% of total owners’ property losses of less than RMB3 million
equity ≤ misstatement < 0.5% of total owners’ equity; III. subject to penalties imposed by government
General deficiencies: (1) Potential misstatement of authorities below the provincial level but causing
operating revenue: misstatement < 0.2% of total operating no adverse impact on the Company.revenue; (2) Potential misstatement of total profit:
misstatement < 2% of total profit; (3) Potential misstatement
of total assets: misstatement < 0.2% of total assets; (4)
Potential misstatement of owners’ equity: misstatement <
0.2% of total owners’ equity.
Number of material deficiencies in financial reporting 0
108Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Number of material deficiencies in non-financial
0
reporting
Number of significant deficiencies in financial reporting 0
Number of significant deficiencies in non-financial
0
reporting
2. Internal control audit report
□Applicable □ Not applicable
Review Opinion on the Internal Control Audit Report
BDO China Shu Lun Pan Certified Public Accountants LLP holds that as of December 31 2025 Luxshare-ICT had maintained in
all material respects effective internal control over financial reporting in accordance with Basic Standards for Enterprise Internal
Control and relevant regulations.Disclosure of internal control audit report Disclosed
Disclosure date of the full internal control audit report April 15 2026
The 2025 Internal Control Audit Report of Luxshare
Precision Industry Co. Ltd. is disclosed on the Company’s
Index of disclosure of the full internal control audit report
designated information disclosure website CNINFO
(www.cninfo.com.cn).Type of opinion on the internal control audit report Standard unqualified opinion
Whether there are material deficiencies in non-financial reporting No
Whether the accounting firm has issued a non-standard opinion on the internal control audit report
□ Yes □No
Whether the opinion of the internal control audit report issued by the accounting firm is consistent with that of the Board of Directors’
self-evaluation report
□Yes □ No
Whether a non-standard audit opinion on internal control was issued in the Reporting Period or the previous year
□ Yes □No
XIV. Remediation of Problems Identified by Self-Inspection in the Special Action for Listed Company Governance
Upon self-inspection it is found that during the Reporting Period the Company’s overall operations were standardized and governance
was sound and no material issues were identified in the self-inspection process. The Company will continue to improve the level of
standardized operations and further promote high-quality development.XV. Environmental Information Disclosure
Whether the listed company and its major subsidiaries are included in the list of enterprises legally required to disclose environmental
information
□Yes □ No
Number of enterprises included in the list of enterprises legally
14
required to disclose environmental information
No. Company name Index for environmental information disclosure report according
109Luxshare Precision Industry Co. Ltd. 2025 Annual Report
to the law
Annual report on corporate environmental information disclosure
according to the law: https://www-
1 Dongguan Xuntao Electronic Co. Ltd.
app.gdeei.cn/gdeepub/front/dal/ent/list/detailentId=d56a4457-
8f2d-4142-a562-26dde3614204
Annual report on corporate environmental information disclosure
according to the law:
2 Jiaxing Yongrui Electron Technology Co. Ltd. https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-
morecode=9133040230744188X3&uniqueCode=9e46a127bce4
75ed&date=2025&type=true&isSearch=true
Annual report on corporate environmental information disclosure
3 Rf Micro Devices (Beijing) Co. Ltd.
according to the law: https://hjxxpl.bevoice.com.cn:8002/home
Annual report on corporate environmental information disclosure
according to the law:
4 Rf Micro Devices (Dezhou) Co. Ltd. http://221.214.62.226:8090/EnvironmentDisclosure/publicReport
Detail/lookReportDetailpageFrom=2&reportId=29535&reportT
ype=1&batchYear=2024
Annual report on corporate environmental information disclosure
according to the law:
5 Rishan Computer Accessory Co. Ltd. https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-
morecode=91330421336400470U&uniqueCode=455ba375978c
4288&date=2025&type=true&isSearch=true
Annual or interim report on corporate environmental information
disclosure according to the law:
Rida Intelligent Manufacturing Technology (Rugao) http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
6
Co. Ltd. webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.g
ov.cn:18181/spsarchive-
webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js
Annual report on corporate environmental information disclosure
7 Riming Computer Accessory (Shanghai) Co. Ltd. according to the law:
https://e2.sthj.sh.gov.cn/jsp/view/hjpl/index.jsp
Annual or interim report on corporate environmental information
disclosure according to the law:
http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
8 Lanto Electronic Limited
webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.g
ov.cn:18181/spsarchive-
webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js
Annual report on corporate environmental information disclosure
according to the law:
9 Jiangxi Luxshare Intelligent Manufacture Co. Ltd.
http://qyhjxxyfpl.sthjt.jiangxi.gov.cn:15004/pilouxiangqingid=3
4dbe71004394d0597f08b180b1635e0
Annual report on corporate environmental information disclosure
according to the law:
10 Luxshare ITech (Zhejiang) Co. Ltd. https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-
morecode=91330421MA2CUFE3XE&uniqueCode=c0f78d910
9725d57&date=2025&type=true&isSearch=true
Annual or interim report on corporate environmental information
11 Luxshare Electronic Technology (Kunshan) Ltd. disclosure according to the law:
http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.g
110Luxshare Precision Industry Co. Ltd. 2025 Annual Report
ov.cn:18181/spsarchive-
webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js
Annual or interim report on corporate environmental information
disclosure according to the law:
http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
12 Luxcase Precision Technology (Yancheng) Co. Ltd.
webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.g
ov.cn:18181/spsarchive-
webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js
Annual report on corporate environmental information disclosure
Shengrui Electronic Technology (Shanghai) Co.
13 according to the law:
Ltd.https://e2.sthj.sh.gov.cn/jsp/view/hjpl/index.jsp
2025 annual report on corporate environmental information
disclosure according to the law:
Huangshi Wingtech Mobile Communications Co.
14 http://219.140.164.18:8007/hbyfpl/frontal/index.html#/home/ente
Ltd.rpriseInfoXTXH=4f24f438-aace-46fc-b430-
0d99d3669411&XH=1715412936675036462592&year=2025
XVI. Social Responsibility
The Company has disclosed the 2025 Sustainability Report. For details please refer to the website of the Shenzhen Stock Exchange
(https://www.szse.cn) and CNINFO (https://www.cninfo.com).XVII. Efforts in Poverty Alleviation and Rural Revitalization
The Company has disclosed the 2025 Sustainability Report. For details please refer to the website of the Shenzhen Stock Exchange
(https://www.szse.cn) and CNINFO (https://www.cninfo.com).
111Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section V Significant Matters
I. Fulfillment of Commitments
1. Commitments of the Company’s actual controller shareholders related parties acquirers the Company and other parties
making commitments that were fulfilled during the Reporting Period or remained unfulfilled as of the end of the Reporting
Period
□Applicable □ Not applicable
Commitment Commitment Commitment Commitment Commitment Fulfillment
Commitment content
reason maker type date term status
To effectively safeguard the
legitimate rights and interests of
the Company and all
shareholders all directors and
senior management personnel of
the Company have made the
following commitments:
1. Not to transfer benefits to other
entities or individuals without
compensation or under unfair
conditions and not to use other
means to harm the interests of the
Company;
2. Constrain the duty-related
consumption behavior of
directors and senior management
personnel;
3. Not to use the issuer’s assets for
investment or consumption
Huang Dawei; activities unrelated to the
Li Wei; Liu performance of duties;
Zhonghua;
Commitment Song Yuhong; 4. Link the remuneration system
made during Wang Laichun; Other formulated by the Board of February 21 Under normal
the IPO or Wang commitments Directors or the Remuneration
Long-term
2022 performance
refinancing Laisheng; and Appraisal Committee with the
Wang Tao; Wu implementation of the issuer’s
Tiansong; return compensation measures;
Zhang Ying 5. Link the exercise conditions of
the issuer’s proposed disclosed
equity incentive with the
implementation of the issuer’s
return compensation measures;
6. I undertake to strictly
implement the above
commitments and ensure that the
issuer’s return compensation
measures are effectively carried
out. If I violate the commitments I
have made or refuse to perform
such commitments I will fulfill
corresponding obligations such as
providing explanations and
apologies in accordance with
relevant regulations and agree
that securities regulatory
authorities such as the China
Securities Regulatory
Commission and the Shenzhen
Stock Exchange may in
112Luxshare Precision Industry Co. Ltd. 2025 Annual Report
accordance with the relevant
provisions and rules designated or
issued by them impose relevant
penalties or take corresponding
regulatory measures against me in
accordance with the law. If losses
are caused to the issuer or
shareholders I am willing to bear
corresponding compensation
liability in accordance with the
law;
7. From the date of issuance of
this commitment to the
completion of the issuer’s non-
public offering of shares if the
China Securities Regulatory
Commission issues any other new
regulatory provisions regarding
return compensation measures
and the related commitments and
the above commitments cannot
satisfy such provisions of the
China Securities Regulatory
Commission I undertake that I
will issue a supplemental
commitment in accordance with
the latest provisions of the China
Securities Regulatory
Commission at that time.To effectively safeguard the
legitimate rights and interests of
the Company and all
shareholders the controlling
shareholder and actual controller
of the Company made the
following commitments:
1. Not to intervene the Company’s
operations and management
beyond authority and not to
occupy the Company’s interests;
2. The company/I undertake to
strictly implement the above
commitments and ensure that the
Commitment Luxshare issuer’s return compensation
made during Limited; Wang Other measures are effectively carried February 21 Under normal Long-term
the IPO or Laichun; Wang commitments out. If the company/I violate the 2022 performance
refinancing Laisheng commitments the company/I have
made or refuse to perform such
commitments the company/I will
fulfill corresponding obligations
such as providing explanations
and apologies in accordance with
relevant regulations and agree
that securities regulatory
authorities such as the China
Securities Regulatory
Commission and the Shenzhen
Stock Exchange may in
accordance with the relevant
provisions and rules designated or
issued by them impose relevant
penalties or take corresponding
regulatory measures against the
113Luxshare Precision Industry Co. Ltd. 2025 Annual Report
company/me in accordance with
the law. If losses are caused to the
issuer or shareholders the
company/I am willing to bear
corresponding compensation
liability in accordance with the
law;
3. From the date of issuance of
this commitment to the
completion of the Company’s
non-public offering of shares if
the China Securities Regulatory
Commission issues any other new
regulatory provisions regarding
return compensation measures
and the related commitments and
the above commitments cannot
satisfy such provisions of the
China Securities Regulatory
Commission the company/I
undertake that I will make
supplemental commitments in
accordance with the latest
provisions of the China Securities
Regulatory Commission at that
time.After completion of the
transaction described in the
announcement on external
investment and related-party
Commitments
transaction disclosed by
on horizontal
Commitment Luxshare-ICT on November 13
competition
made during Luxshare 2020 the Company and its related November 13 Under normal
related-party Long-term
the IPO or Limited parties will not in any form 2022 performance
transactions and
refinancing directly or indirectly engage in
capital
any business that is identical to or
appropriation
constitutes substantial
competition with Luxshare
Precision and the enterprises it
controls.The directors and senior
management personnel of the
Company in accordance with the
relevant regulations of the China
Securities Regulatory
Huang Dawei; Commission have made the
Li Bin; Lin following commitments to ensure
Yifei; Wang the effective implementation of
Laichun; Wang the Company’s return
Commitment Laisheng; Wu compensation measures:
made during Tiansong; Other Under normal
1. I undertake not to transfer July 11 2019 Long-term
the IPO or Xiong commitments performance
benefits to other entities or
refinancing Tengfang; Xu
individuals without compensation
Huaibin; Xue
or under unfair conditions and
Haigao; Ye
not to use other means to harm the
Yiling; Zhang
interests of the Company.Ying
2. I undertake to exercise restraint
over my duty-related
consumption.
3. I undertake not to use the
Company’s assets for investment
114Luxshare Precision Industry Co. Ltd. 2025 Annual Report
or consumption activities
unrelated to the performance of
duties.
4. I undertake within the scope of
my legitimate authority to
procure that the remuneration
system formulated by the Board
of Directors or the Remuneration
and Appraisal Committee is
linked to the implementation of
the Company’s return
compensation measures.
5. I undertake within the scope of
my legitimate authority to
procure that the exercise
conditions of the Company’s
equity incentives are linked to the
implementation of the Company’s
return compensation measures.
6. I undertake to strictly perform
the above commitments and
ensure that the Company’s return
compensation measures are
effectively implemented. If I
violate the commitments I have
made or refuse to perform such
commitments I will fulfill
corresponding obligations such as
providing explanations and
apologies in accordance with
relevant regulations and agree
that securities regulatory
authorities such as the China
Securities Regulatory
Commission and the Shenzhen
Stock Exchange may in
accordance with the relevant
provisions and rules designated or
issued by them impose relevant
penalties or take corresponding
regulatory measures against me in
accordance with the law. If losses
are caused to the Company or
shareholders I am willing to bear
corresponding compensation
liability in accordance with the
law.To effectively safeguard the
legitimate rights and interests of
the Company and all
shareholders the controlling
shareholder and actual controller
of the Company made the
Commitment Luxshare following commitments:
made during Limited; Wang Other Under normal
July 11 2019 Long-term
the IPO or Laichun; Wang commitments 1. Not intervene the Company’s performance
refinancing Laisheng operation and management
beyond the authority and not
occupy the Company’s interests.
2. The company/I undertake to
effectively implement the
relevant return compensation
measures formulated by the
115Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Company and any commitments
made by the company/me in
relation to such return
compensation measures. If the
company/I violate or fail to fulfill
the above commitments the
company/I agree that securities
regulatory authorities such as the
China Securities Regulatory
Commission and the Shenzhen
Stock Exchange may impose
relevant penalties or take relevant
regulatory measures against the
company/me in accordance with
the relevant provisions and rules
formulated or issued by them. If
the company/I violate or fail to
fulfill the above commitments
thereby causing losses to the
Company or investors the
company/I am willing to bear
compensation liability in
accordance with the law.
3. From the date of issuance of
this commitment to the
completion of this offering if
securities regulatory authorities
such as the China Securities
Regulatory Commission
formulate new provisions
regarding return compensation
measures and the relevant
commitments and the above
commitments cannot satisfy such
relevant provisions I undertake to
make supplemental commitments
in accordance with the relevant
provisions.All directors and senior
management personnel of the
Company undertake:
(1) I undertake not to transfer
benefits to other entities or
individuals without compensation
Bai Rujing; or under unfair conditions and
Chen Chaofei; not to use other means to harm the
Dong Jianhai; interests of the Company;
Li Bin; Li Jing;
Commitment Li Xiongwei; (2) I undertake to exercise
made during Lin Yifei; Other restraint over my duty-related March 11 Under normal
Long-term
the IPO or Wang Ji; Wang commitments consumption; 2016 performance
refinancing Laichun; Wang
Laisheng; Xu (3) I undertake not to use the
Huaibin; Ye Company’s assets for investment
Yiling; Zhang or consumption activities
Lihua unrelated to the performance of
duties;
(4) I undertake that the
remuneration system formulated
by the Board of Directors or the
Remuneration and Appraisal
Committee is linked to the
implementation of the Company’s
116Luxshare Precision Industry Co. Ltd. 2025 Annual Report
return compensation measures;
(5) If the Company subsequently
launches an equity incentive plan
I undertake that the exercise
conditions of the Company’s
proposed equity incentive plan to
be announced will be linked to the
implementation of the Company’s
return compensation measures.Controlling shareholder Luxshare
Limited and actual controllers
Wang Laichun and Wang
Laisheng undertake:
1. Luxshare Limited will not
intervene the Company’s
operation and management
beyond the authority and not
occupy the Company’s interests.
2. As the actual controller
Chairperson and General
Manager of the Company Wang
Laichun will exercise relevant
functions and powers in
accordance with the relevant
Commitment Luxshare provisions of laws regulations
made during Limited; Wang Other and the Articles of Association March 11 Under normal Long-term
the IPO or Laichun; Wang commitments and will not intervene the 2016 performance
refinancing Laisheng Company’s operation and
management beyond the authority
and occupy the Company’s
interests.
3. As the Company’s actual
controller and Vice Chairperson
Wang Laisheng will exercise the
relevant functions and powers in
accordance with the relevant
provisions of laws regulations
and the Articles of Association
and will not intervene the
Company’s operation and
management beyond the authority
and occupy the Company’s
interests.The commitments regarding
horizontal competition related-
party transactions and fund
occupation are as follows: 1. The
company and related enterprises
Commitments now or in the future will endeavor
on horizontal to minimize related-party
Commitment
competition transactions with Luxshare-ICT.made during Luxshare
related-party 2. For related-party transactions
October 15 Under normal
Long-term
the IPO or Limited
transactions and that are unavoidable or reasonably
2014 performance
refinancing
capital necessary the related-party
appropriation transactions between the
company and related enterprises
and Luxshare-ICT will be
conducted in accordance with fair
market principles and normal
commercial terms ensuring the
fairness of related-party
117Luxshare Precision Industry Co. Ltd. 2025 Annual Report
transaction pricing and the
decision-making procedures for
related-party transactions will be
performed in accordance with the
law to ensure that the legitimate
rights and interests of Luxshare-
ICT and other shareholders are
not harmed through related-party
transactions. 3. The company and
related enterprises will not request
or accept any terms from
Luxshare-ICT that are more
favorable than those available
from a third party in a fair market
transaction. 4. During the period
in which the company serves as
the controlling shareholder of
Luxshare-ICT the aforesaid
commitments are unconditional
and irrevocable. If the company
breaches the aforesaid
commitments it will provide full
timely and sufficient joint and
several compensations for the
losses thereby suffered by
Luxshare-ICT.The commitments regarding
horizontal competition related-
party transactions and fund
occupation are as follows: 1. The
company and the enterprises
currently or subsequently
controlled by the company will
not in any form directly or
indirectly engage in any business
or activity that competes or may
compete actually or potentially
with the principal business of
Luxshare-ICT. 2. If due to
amendments to national laws or
changes in policies it becomes
Commitments unavoidable that the company and
on horizontal the enterprises controlled by the
Commitment
competition company compete or may
made during Luxshare October 15 Under normal
related-party compete with Luxshare-ICT with Long-term
the IPO or Limited 2014 performance
transactions and respect to the entrusted
refinancing
capital management (or contracted
appropriation operation or lease operation) or
acquisition of such competing
business Luxshare-ICT will
enjoy a right of first refusal under
the same conditions. 3. During the
period in which the company acts
as the controlling shareholder of
Luxshare-ICT the foregoing
commitments are unconditional
and irrevocable. If the company
breaches the aforesaid
commitments it will provide full
timely and sufficient joint and
several compensations for the
losses thereby suffered by
Luxshare-ICT.
118Luxshare Precision Industry Co. Ltd. 2025 Annual Report
The commitments regarding
horizontal competition related-
party transactions and capital
occupation are as follows: The
company/I will not use its/our
position as controlling
shareholder actual controller or
shareholder or the related-party
relationship with the issuer to
harm the interests of the issuer
and other shareholders; when
engaging in related-party
transactions with the issuer such
transactions will be conducted in
Luxshare Commitments
accordance with principles of
Limited; on horizontal
Commitment fairness reasonableness and
Shenzhen Zixin competition
made during normal commercial terms and the Under normal
Investment Co. related-party July 30 2010 Long-term
the IPO or company/I will not request or performance
Ltd.; Wang transactions and
refinancing accept from the issuer terms more
Laichun; Wang capital
favorable than those available to a
Laisheng appropriation
third party in any fair market
transaction; the company/I will
strictly and in good faith perform
the various related-party
transaction agreements entered
into with the issuer and will not
seek from the issuer any interests
or benefits beyond the foregoing
provisions. If the company/I
breach the above commitments
the company/I will compensate
for the losses caused thereby to
the issuer and other minority
shareholders.The commitments regarding
horizontal competition related-
party transactions and fund
occupation are as follows: The
company currently does not
engage in any business that is the
same as or similar to that of the
issuer and the enterprises it
controls; during the period in
which the company has direct or
indirect control over the issuer it
will strictly comply with relevant
Commitments national laws regulations and
Luxshare on horizontal
Commitment normative legal documents and
Limited; competition
made during will not within or outside China Under normal
Shenzhen Zixin related-party
the IPO or directly or indirectly engage in
July 30 2010 Long-term
performance
Investment Co. transactions and
refinancing any business that is the same as
Ltd. capital similar to or constitutes
appropriation substantial competition with that
of the issuer and the enterprises it
controls nor will it directly or
indirectly hold absolute or relative
control over any other enterprise
organization or economic entity
that engages in any business that
is the same as similar to or
constitutes substantial
competition with that of the issuer
and the enterprises it controls; the
company will use its control
rights over other controlled
119Luxshare Precision Industry Co. Ltd. 2025 Annual Report
enterprises to procure such
enterprises to comply with the
above commitments in
accordance with the same
standards; if the company
breaches the above commitments
it will bear the corresponding
legal liabilities including but not
limited to all losses caused
thereby to the issuer and other
minority shareholders.The commitments regarding
horizontal competition related-
party transactions and fund
occupation are as follows: I and
other enterprises under my control
currently do not engage in any
business that is the same as or
similar to that of the issuer and the
enterprises it controls; during the
period in which I have direct or
indirect control over the issuer I
will strictly comply with relevant
national laws regulations and
normative legal documents and
will not within or outside China
directly or indirectly engage in
any business that is the same as
Commitments
similar to or constitutes
on horizontal
Commitment substantial competition with that
competition
made during Wang Laichun; of the issuer and the enterprises it Under normal
related-party July 30 2010 Long-term
the IPO or Wang Laisheng controls nor will I directly or performance
transactions and
refinancing indirectly hold absolute or relative
capital
control over any other enterprise
appropriation
organization or economic entity
that engages in any business that
is the same as similar to or
constitutes substantial
competition with that of the issuer
and the enterprises it controls; I
will use its control rights over
other controlled enterprises to
procure such enterprises to
comply with the above
commitments in accordance with
the same standards; if I breach the
above commitments I will bear
the corresponding legal liabilities
including but not limited to all
losses caused thereby to the issuer
and other minority shareholders.
(1) This shareholding increase
plan and subsequent shareholding
management will be carried out in
strict accordance with the relevant
provisions of applicable laws
Commitment to
Other regulations and normative March 17
Wang Laisheng increasing
commitments documents and will not involve
April 9 2025 Completed
2026
shareholding insider trading share trading
during sensitive periods short-
swing trading or other such acts.
(2) No reduction of shareholdings
in the Company will be made
during the shareholding increase
120Luxshare Precision Industry Co. Ltd. 2025 Annual Report
period and within the statutory
time limit and the shareholding
increase plan will be completed
within the above implementation
period.Whether the
commitment
has been Yes
fulfilled on
time
If the
commitment
has not been
fulfilled
within the
deadline a
detailed
During the Reporting Period there were no overdue unfulfilled commitment matters by relevant commitment parties
explanation
such as the Company’s actual controller shareholders related parties acquirers and the Company.of the reasons
for non-
fulfilment and
the next steps
to be taken
shall be
provided
2. If there are profit forecasts on assets or projects of the Company and the Reporting Period was within the term of profit
forecasts the Company shall provide an explanation regarding whether such profit forecasts on assets or projects have been
reached and the reasons therefor
□ Applicable □Not applicable
3. Performance commitments involving the Company
□ Applicable □Not applicable
II. Non-operational Fund Occupation by the Controlling Shareholder and Other Related Parties of the Listed Company
□ Applicable □Not applicable
The Company had no non-operating funds occupied by controlling shareholders and other related parties during the Reporting Period.III. Rule-violating Provision of External Guarantees
□ Applicable □Not applicable
The Company did not engage in any violations related to external guarantees during the Reporting Period.IV. Explanation of the Board of Directors on the latest “non-standard audit report”
□ Applicable □Not applicable
V. Explanation of the Board of Directors and the independent directors (if any) on the “non-standard audit report” of the
accounting firm during the Reporting Period
□ Applicable □Not applicable
VI. Explanation on the Year-on-year Changes in Accounting Policies and Estimates from the Previous Year’s Financial Report
or Correction of Material Accounting Errors
□ Applicable □Not applicable
During the Reporting Period there were no changes in accounting policies estimates or corrections of material accounting errors in
the Company.VII. Explanation on the Year-on-year Changes in the Scope of the Consolidated Financial Report
□Applicable □ Not applicable
121Luxshare Precision Industry Co. Ltd. 2025 Annual Report
For details see “IX. Changes in the Scope of Consolidation” under “VII. Notes to the Items of the Consolidated Financial Statements”
in “Section VIII Financial Report”.VIII. Engagement and Disengagement of Accounting Firm
Current accounting firm
Name of the domestic accounting firm BDO China Shu Lun Pan Certified Public Accountants LLP
Remuneration for the domestic accounting firm (RMB10000) 284
Continuous service period of the domestic accounting firm for
18
audit services
Name of CPA of the domestic accounting firm Zhang Huice and Zhang Yehua
Continuous service period of the CPAs of the domestic
1
accounting firm for audit services
Whether the accounting firm was changed for the Reporting Period.□ Yes □No
Engagement of accounting firms for internal control audit financial advisers and sponsors
□Applicable □ Not applicable
1. During the Reporting Period the Company engaged BDO China Shu Lun Pan Certified Public Accountants LLP as the Company’s
2025 annual audit institution and internal control audit institution. During the Reporting Period pursuant to the signed agreement the
Company shall pay the related fees of RMB2.84 million.
2. During the Reporting Period due to the implementation of the 2025 Stock Option Incentive Plan the Company engaged Shanghai
Rongzheng Enterprise Consulting Service (Group) Co. Ltd. as its financial adviser. During the Reporting Period pursuant to the signed
agreement the Company shall pay the related fees of RMB200000.
3. During the Reporting Period as part of the Company’s plan to issue overseas-listed foreign-invested shares (H shares) and apply for
a listing on the Main Board of the Stock Exchange of Hong Kong Limited the Company engaged BDO Risk Advisory Services Limited
as the internal control auditor for the proposed listing and issuance and engaged CITIC Securities (Hong Kong) Company Limited
CLSA Limited Goldman Sachs (Asia) L.L.C. and China International Capital Corporation (International) Limited as the sponsors for
the proposed listing and issuance. During the Reporting Period pursuant to the signed agreements the Company shall pay the related
fees of approximately RMB4.69 million.IX. Possibility of Delisting after Disclosure of This Report
□ Applicable □Not applicable
X. Matters Related to Bankruptcy and Restructuring
□ Applicable □Not applicable
There were no matters related to bankruptcy and restructuring in the Company during the Reporting Period.XI. Major Litigation and Arbitration Matters
□Applicable □ Not applicable
Basic Whether Trial results Execution of
Amount Progress of
information on estimated and influences judgment of Disclosure Disclosure
involved litigation
litigation liabilities are of litigation litigation date index
(RMB10000) (arbitration)
(arbitration) recognized (arbitration) (arbitration)
Other Closed
litigation through
(arbitration) 8307.54 No Closed settlement Completed N/A
during the mediation or
Reporting judgment
122Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Period without any
significant
influence on
the Company
In the trial or
Other
pending
litigation
judgment
(arbitration)
26290.65 No Trial stage stage with no Trial stage N/A
during the
significant
Reporting
influence on
Period
the Company
XII. Punishments and Remediation
□ Applicable □Not applicable
The Company had no punishment or remediation during the Reporting Period.XIII. Integrity of the Company and Its Controlling Shareholders and Actual Controller
□Applicable □ Not applicable
The Company its controlling shareholder and its actual controller maintained a good record of integrity with no circumstances such
as failure to comply with effective court judgments or failure to repay relatively large debts when due.XIV. Material Related-party Transactions
1. Related-party transactions related to routine operations
□Applicable □ Not applicable
Amount of Proportion Amount of
Pricing Price of Whether the Settlement Market price
Type of Content of related-party to the transaction
Related principle of related- approved method of of available Disclosure Disclosure
Relationship related-party related-party transaction amount of approved
party related-party party amount is related-party similar date index
transaction transaction (RMB10000 similar (RMB1000
transaction transaction exceeded transaction transactions
) transactions 0)
Purchase of Announcem
Purchase of
Associated goods from Market Fair market Bank Fair market December 2 ent No.:
BCS Suzhou goods 1069.51 0.34% 1500 No
legal entity related pricing price transfer price 2025 2025-021
services etc.parties 2025-145
Purchase of
Purchase of Announcem
BCS Associated goods from Market Fair market Bank Fair market March 15
goods 3771.27 1.18% 7000 No ent No.:
Romania legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Purchase of
Purchase of Announcem
Associated goods from Market Fair market Bank Fair market March 15
BCS USA goods 440.58 0.14% 1000 No ent No.:
legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Purchase of
Purchase of Announcem
Cowell Associated goods from Market Fair market Bank Fair market March 15
goods 1210.38 0.38% 3500 No ent No.:
Dongguan legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Purchase of
Purchase of Announcem
Luxsan Associated goods from Market Fair market Bank Fair market March 15
goods 3968.88 1.24% 8000 No ent No.:
Investment legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Purchase of
Purchase of Announcem
Luxsan Associated goods from Market Fair market Bank Fair market March 15
goods 107180.82 33.60% 150000 No ent No.:
Hong Kong legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Purchase of
Purchase of Announcem
Teleray Associated goods from Market Fair market Bank Fair market December 2
goods 35864.34 11.24% 50000 No ent No.:
Hong Kong legal entity related pricing price transfer price 2025
services etc. 2025-145
parties
Purchase of
Purchase of Announcem
Dongguan Associated goods from Market Fair market Bank Fair market December 2
goods 51578.08 16.17% 60000 No ent No.:
DLC legal entity related pricing price transfer price 2025
services etc. 2025-145
parties
123Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Sales of
Sale of Announcem
Associated goods to Market Fair market Bank Fair market March 15
BCS Suzhou goods 32468.02 2.59% 60000 No ent No.:
legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of Announcem
Sale of
Associated goods to Market Fair market Bank Fair market December 2 ent No.:
BCS USA goods 5709.48 0.46% 6500 No
legal entity related pricing price transfer price 2025 2025-021
services etc.parties 2025-145
Sales of
Sale of Announcem
BCS Associated goods to Market Fair market Bank Fair market March 15
goods 257.67 0.02% 1000 No ent No.:
Romania legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of
Sale of Announcem
Luxsan Associated goods to Market Fair market Bank Fair market March 15
goods 162.77 0.01% 1000 No ent No.:
Investment legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of Announcem
Sale of
Luxsan Associated goods to Market Fair market Bank Fair market December 2 ent No.:
goods 668639.21 53.35% 750000 No
Hong Kong legal entity related pricing price transfer price 2025 2025-021
services etc.parties 2025-145
Sales of
Sale of Announcem
Luxsan Associated goods to Market Fair market Bank Fair market March 15
goods 8629.9 0.69% 30000 No ent No.:
Equipment legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of
Sale of Announcem
Chery New Associated goods to Market Fair market Bank Fair market March 15
goods 15743.21 1.26% 40000 No ent No.:
Energy legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of
Sale of Announcem
Ruijing Associated goods to Market Fair market Bank Fair market March 15
goods 205830.63 16.42% 400000 No ent No.:
Anhui legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of
Sale of Announcem
Cowell Associated goods to Market Fair market Bank Fair market March 15
goods 197002.97 15.72% 280000 No ent No.:
Hong Kong legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of
Sale of Announcem
Cowell Associated goods to Market Fair market Bank Fair market March 15
goods 2843.76 0.23% 15000 No ent No.:
Dongguan legal entity related pricing price transfer price 2025
services etc. 2025-021
parties
Sales of
Sale of Announcem
Luxsan Associated goods to Market Fair market Bank Fair market December 2
goods 35359.95 2.82% 50000 No ent No.:
Trading legal entity related pricing price transfer price 2025
services etc. 2025-145
parties
Total -- -- 1377731.43 -- 1914500 -- -- -- -- --
Details of large-amount refunds for goods sold N/A
When estimating annual routine related-party transactions the Company primarily conducted adequate assessment and calculation based on market
Actual performance (if any) during the Reporting Period if
conditions and potential related-party transactions. However the actual amounts incurred were determined according to market conditions the business
the aggregate amount is estimated by category in relation to
development of both parties actual needs and specific implementation progress resulting in certain differences between the actual amounts incurred and
the routine related-party transactions expected to occur
the estimated amounts. The above falls within normal business operations and will not have a significant influence on the Company’s daily operations or
during the Reporting Period
performance.Reasons for comparatively significant differences between
the transaction price and the reference market price (if N/A
applicable)
2. Related-party transactions of acquisition and sales of assets or equity
□ Applicable □Not applicable
The Company did not have any related-party transactions of acquisition and sales of assets or equity during the Reporting Period.
3. Related-party transactions of joint external investment
□ Applicable □Not applicable
The Company had no related-party transaction of joint external investment during the Reporting Period.
124Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4. Related-party credit and debt transactions
□ Applicable □Not applicable
The Company had no related-party credit and debt transactions during the Reporting Period.
5. Business with financial companies with related relationships
□ Applicable □Not applicable
There was no deposit loan credit or other financial businesses between the Company and financial companies with related
relationships as well as their related parties.
6. Business between financial companies controlled by the Company and the Company’s related parties
□ Applicable □Not applicable
There was no deposit loan credit or other financial businesses between financial companies controlled by the Company and the
Company’s related parties.
7. Other material related-party transactions
□ Applicable □Not applicable
There were no other material related-party transactions during the Reporting Period.XV. Major Contracts and Performance Thereof
1. Information on trusteeship contracting and leasing matters
(1) Information on trusteeship matters
□ Applicable □Not applicable
The Company had no trusteeship matters during the Reporting Period.
(2) Information on contracting matters
□ Applicable □Not applicable
The Company had no contracting matters during the Reporting Period.
(3) Information on leasing matters
□ Applicable □Not applicable
The Company had no leasing matters during the Reporting Period.
2. Major guarantees
□Applicable □ Not applicable
Unit: RMB10000
External Guarantees of the Company and Its Subsidiaries (Excluding Guarantees for Subsidiaries)
Disclosure
Whether
date for
the
the Whether
guarantee
announce Actual Actual Counter the
Guarantee Guarantee Type of Collateral Guarantee is
ment occurrence guarantee guarantee guarantee
object limit guarantee (if any) period provided
related to date amount (if any) has been
for a
the fulfilled
related
guarantee
party
limit
Guarantees to subsidiaries by the Company
Guarantee Disclosure Guarantee Whether Whether Actual Actual Type of Collateral Counter Guarantee
object date for limit occurrence guarantee guarantee (if any) guarantee period
the the
the guarantee guarantee
125Luxshare Precision Industry Co. Ltd. 2025 Annual Report
announce date amount (if any) has been is
ment fulfilled provided
related to for a
the related
guarantee party
limit
LUXSHAR
Joint and
E
April 20 July 28 several
PRECISIO 69585.12 0 None None Five years Yes No
2021 2021 liability
N
guarantee
LIMITED
Until the
relevant
Luxshare payment
Joint and
Communic obligation
January several
ation 350000 0 None None s under Yes No
22 2025 liability
(Shanghai) this
guarantee
Co. Ltd. transactio
n are fully
performed
Total amount of actual
Total approved
guarantee for
guarantee limit for
subsidiaries during 0
subsidiaries during the
the Reporting Period
Reporting Period (B1)
(B2)
Total approved Total actual guarantee
guarantee limit for balance for
subsidiaries at the end of 419585.12 subsidiaries at the end 0
the Reporting Period of the Reporting
(B3) Period (B4)
Guarantees provided between subsidiaries
Disclosure
Whether
date for
the
the Whether
guarantee
announce Actual Actual Counter the
Guarantee Guarantee Type of Collateral Guarantee is
ment occurrence guarantee guarantee guarantee
object limit guarantee (if any) period provided
related to date amount (if any) has been
for a
the fulfilled
related
guarantee
party
limit
36 months
Huizhou from the
Joint and
Huasheng date of
August 15 several
Electronic 1000 1000 maturity No No
2025 liability
Wire Co. of the
guarantee
Ltd. principal
debt
36 months
Huizhou from the
Joint and
Huasheng date of
April 23 several
Electronic 5000 5000 maturity No No
2025 liability
Wire Co. of the
guarantee
Ltd. principal
debt
126Luxshare Precision Industry Co. Ltd. 2025 Annual Report
36 months
Huizhou from the
Joint and
Huasheng date of
June 23 several
Electronic 5200 4000 maturity No No
2025 liability
Wire Co. of the
guarantee
Ltd. principal
debt
24 months
Huizhou from the
Joint and
Huasheng date of
December several
Electronic 15000 5299 maturity No No
20 2024 liability
Wire Co. of the
guarantee
Ltd. principal
debt
36 months
Huizhou from the
Joint and
Huasheng date of
July 11 several
Electronic 5000 2000 maturity No No
2024 liability
Wire Co. of the
guarantee
Ltd. principal
debt
36 months
Huizhou from the
Joint and
Huasheng date of
December several
Electronic 5500 3000 maturity No No
6 2024 liability
Wire Co. of the
guarantee
Ltd. principal
debt
36 months
Huizhou from the
Joint and
Huasheng date of
August 1 several
Electronic 4500 1400 maturity No No
2020 liability
Wire Co. of the
guarantee
Ltd. principal
debt
36 months
Huizhou from the
Joint and
Huasheng date of
August 28 several
Electronic 5000 4000 maturity No No
2025 liability
Wire Co. of the
guarantee
Ltd. principal
debt
36 months
Huizhou from the
Joint and
Huasheng date of
June 2 several
Electronic 5000 3825 maturity No No
2021 liability
Wire Co. of the
guarantee
Ltd. principal
debt
Huizhou 36 months
Joint and
Dejinchang from the
July 5 12648.8 several
New 18000 date of No No
2021 8 liability
Materials maturity
guarantee
Co. Ltd. of the
principal
127Luxshare Precision Industry Co. Ltd. 2025 Annual Report
debt
36 months
Jian
from the
Dejinchang Joint and
date of
Optoelectro March 4 several
2500 2490.13 maturity No No
nics 2025 liability
of the
Technology guarantee
principal
Co. Ltd.debt
24 months
Nantong
from the
Dejinchang Joint and
date of
Photoelectr September several
5000 4300 maturity No No
ic 18 2019 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Nantong from the
Joint and
Zhenhongc date of
August 4 several
hang 1000 1000 maturity No No
2025 liability
Technology of the
guarantee
Co. Ltd. principal
debt
36 months
Nantong from the
Joint and
Zhenhongc date of
November several
hang 1000 1000 maturity No No
21 2025 liability
Technology of the
guarantee
Co. Ltd. principal
debt
60 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro December several
4300 2657.9 maturity No No
nics 4 2020 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro August 28 several
7500 3962 maturity No No
nics 2025 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro July 10 several
5000 3400 maturity No No
nics 2024 liability
of the
Technology guarantee
principal
Co. Ltd.debt
Huizhou Joint and 36 months
Dejinchang April 19 several from the
Optoelectro 12000 9170 No No 2021 liability date of
nics guarantee maturity
Technology of the
128Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Co. Ltd. principal
debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro June 23 several
12350 0 maturity No No
nics 2025 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro August 15 several
2700 2700 maturity No No
nics 2025 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro April 23 several
5000 4000 maturity No No
nics 2025 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro June 2 several
5000 2174.94 maturity No No
nics 2021 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro December several
10000 6394.8 maturity No No
nics 31 2024 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro December several
5500 2000 maturity No No
nics 6 2024 liability
of the
Technology guarantee
principal
Co. Ltd.debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro October several
10000 3065 maturity No No
nics 10 2024 liability
of the
Technology guarantee
principal
Co. Ltd.debt
Huizhou 36 months
Joint and
Dejinchang August 1 5500 3500 from the several No No
Optoelectro 2020 date of
liability
nics maturity
129Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology guarantee of the
Co. Ltd. principal
debt
36 months
Huizhou
from the
Dejinchang Joint and
date of
Optoelectro November several
5000 2800 maturity No No
nics 10 2025 liability
of the
Technology guarantee
principal
Co. Ltd.debt
DZC
Optoelectro
Joint and
nics
November several Indefinite
Technology 4498.43 4196.64 No No
23 2022 liability term
(Vietnam)
guarantee
Company
Limited
DZC
Optoelectro
Joint and
nics
November several Indefinite
Technology 4217.28 3738.73 No No
22 2023 liability term
(Vietnam)
guarantee
Company
Limited
DZC
Optoelectro
Joint and
nics
January 12 several Indefinite
Technology 3177.02 784.65 No No
2023 liability term
(Vietnam)
guarantee
Company
Limited
Joint and
Leonische
January 14 several January
Portugal 2243.31 0 No No
2021 liability 14 2028
Lda.guarantee
Joint and
LEONI
November several December
Bordnetz- 4527.77 0 No No
19 2019 liability 31 2029
Systeme
guarantee
Joint and
LEONI
October 8 several August
Wir. Sys. 13839.56 0 No No
2019 liability 25 2032
Berrechid
guarantee
Joint and
LEONI
October 4 several February
Bordnetz- 68.77 0 No No
2019 liability 19 2034
Systeme
guarantee
LEONI Joint and
Wiring April 25 several April 15
3241.96 0 No No
Systems 2019 liability 2026
SSR guarantee
130Luxshare Precision Industry Co. Ltd. 2025 Annual Report
LEONI Joint and
Continuin
Wiring March 7 several
676.01 0 g No No
Systems 2008 liability
guarantee
Tucs guarantee
LEONI Joint and
Continuin
Wiring April 26 several
163.06 0 g No No
Systems 2004 liability
guarantee
UK guarantee
LEONI Joint and
Continuin
Wiring July 17 several
18896.35 0 g No No
Systems 2019 liability
guarantee
UK guarantee
LEONI Joint and
Continuin
Wiring September several
9448.17 0 g No No
Systems 28 2015 liability
guarantee
UK guarantee
LEONI Joint and
Continuin
Wiring December several
9448.17 0 g No No
Systems 19 2013 liability
guarantee
UK guarantee
LEONI Joint and
Continuin
Wiring March 27 several
4724.09 0 g No No
Systems 2013 liability
guarantee
UK guarantee
LEONI Joint and
Continuin
Wiring July 17 several
4724.09 0 g No No
Systems 2007 liability
guarantee
UK guarantee
Joint and
LEONI December several December
3800.88 0 No No
Italy S.r.l. 9 2025 liability 31 2027
guarantee
Joint and
LEONI October several December
2334.46 0 No No
Italy S.r.l. 28 2024 liability 31 2027
guarantee
Joint and
September several December
LEONI AG 1154.85 0 No No
25 2024 liability 31 2027
guarantee
Joint and
LEONI W Continuin
August 17 several
Systems 16.59 0 g No No
2023 liability
Ain Sebaa guarantee
guarantee
Joint and
September several December
LEONI AG 41.18 0 No No
30 2024 liability 31 2026
guarantee
131Luxshare Precision Industry Co. Ltd. 2025 Annual Report
LEONI Joint and
Wiring March 5 several December
1647.1 0 No No
System 2024 liability 31 2026
Egypt guarantee
Joint and
LEONI
January 1 several June 30
Bordnetz- 403.07 0 No No
2023 liability 2030
Systeme
guarantee
Joint and
LEONI
November several November
Bordnetz- 164.71 0 No No
17 2022 liability 17 2027
Systeme
guarantee
LEONI Joint and
Continuin
Wiring December several
2305.74 0 g No No
Systems 31 2021 liability
guarantee
BRas guarantee
Total amount of actual
Total approved
guarantee for
guarantee limit for
subsidiaries during 31952.13
subsidiaries during the
the Reporting Period
Reporting Period (C1)
(C2)
Total approved Total actual guarantee
guarantee limit for balance for
subsidiaries at the end of subsidiaries at the end 105507.67
the Reporting Period of the Reporting
(C3) Period (C4)
Total guarantee amount of the Company (i.e. sum of the first three items)
Total approved Total amount of actual
guarantee limit during guarantee during the
31952.13
the Reporting Period Reporting Period
(A1+B1+C1) (A2+B2+C2)
Total approved Total actual guarantee
guarantee limit at the balance at the end of
419585.12105507.67
end of the Reporting the Reporting Period
Period (A3+B3+C3) (A4+B4+C4)
Proportion of total guarantee balance
1.24%
(A4+B4+C4) of the Company’s net assets
Incl.:
Balance of guarantees provided for shareholders
0
actual controller and their related parties (D)
Balance of debt guarantees provided directly or
indirectly for objects with an over 70% asset- 0
liability ratio (E)
Amount by which the total guarantee amount
0
exceeds 50% of the Company’s net assets (F)
132Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Total of the three amounts above (D+E+F) 0
Description of the details of the adoption of composite guarantee methods
N/A
3. Information on cash asset management entrusted to third parties
(1) Entrusted wealth management
□Applicable □ Not applicable
Overview of entrusted wealth management during the Reporting Period
Unit: RMB10000
Balance of entrusted wealth
Unrecovered overdue
Product category Risk characteristics management during the Reporting
amount
Period
Bank wealth management
Low risk 277020.01 0
products
Circumstances where the Company acts as the sole entrustor and entrusts financial institutions to manage assets or where investments
are made in high-risk entrusted wealth management products with low security and poor liquidity
□ Applicable □Not applicable
(2) Entrusted loans
□Applicable □ Not applicable
Overview of entrusted loans during the Reporting Period
Unit: RMB10000
Balance of entrusted loans during the
Risk characteristics of entrusted loans Unrecovered overdue amount
Reporting Period
Low risk 4062868.14 0
133Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Circumstances where the Company acts as the sole entrustor and entrusts financial institutions to manage assets or where investments
are made in high-risk entrusted loans with low security and poor liquidity
□ Applicable □Not applicable
4. Other major contracts
□ Applicable □Not applicable
The Company had no other major contracts during the Reporting Period.XVI. Use of Raised Funds
□ Applicable □Not applicable
The Company had no use of raised funds during the Reporting Period.XVII. Other Significant Events
□ Applicable □Not applicable
The Company had no other significant events to be stated during the Reporting Period.XVIII. Significant Events of Subsidiaries
□ Applicable □Not applicable
134Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section VI Share Changes and Shareholder Information
I. Share Changes
1. Share changes
Unit: Share
Before change Increase/decrease (+/-) After change
Capitaliza
New Bonus tion of
Quantity Percentage Others Subtotal Quantity Percentage
issues shares surplus
reserve
I. Shares subject to
179919870.25%-1280182-1280182167118050.23%
trading restrictions
1. Shares held by the
State
2. Shares held by state-
owned legal entities
3. Shares held by other
42163730.06%-3456481-34564817598920.01%
domestic investors
Including: Shares held
by domestic legal
entities
Shares held by domestic
42163730.06%-3456481-34564817598920.01%
natural persons
4. Shares held by
137756140.19%21762992176299159519130.22%
foreign investors
Including: Shares held
by foreign legal entities
Shares held by foreign
137756140.19%21762992176299159519130.22%
natural persons
II. Shares not subject to 72198242 72691110
99.75%492868224928682299.77%
trading restrictions 57 79
7219824272691110
1. RMB ordinary shares 99.75% 49286822 49286822 99.77%
5779
2. Domestically listed
foreign-invested shares
3. Overseas listed
foreign-invested shares
4. Others
III. Total shares 72378162 100.00% 48006640 48006640 72858228 100.00%
135Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4484
Reasons for share changes
□Applicable □ Not applicable
1. During the Reporting Period the Company increased its shares by 47996567 shares as a result of the independent exercise of stockoptions by the incentive recipients under the stock option incentive plan. For details please refer to “X. Implementation of the EquityIncentive Plan Employee Stock Ownership Plans or Other Employee Incentive Measures” under Section IV of this Report.
2. On November 3 2020 the Company publicly offered 30 million convertible corporate bonds (bond abbreviation: Luxshare
Convertible Bond; bond code: 128136). The conversion period for the convertible corporate bonds is from May 10 2021 to November
2 2026. During the Reporting Period the accumulative number of shares converted was 10073.
3. In total the cumulative change in the number of the Company’s shares during the Reporting Period was 48006640 shares.
Approval of share changes
□Applicable □ Not applicable
1. Reviewed and approved at the ninth meeting of the sixth session of the Board of Directors and the eighth meeting of the sixth session
of the Board of Supervisors of the Company on March 13 2025.
2. Reviewed and approved at the 12th meeting of the sixth session of the Board of Directors and the 11th meeting of the sixth session
of the Board of Supervisors of the Company on April 27 2025.
3. Reviewed and approved at the 13th meeting of the sixth session of the Board of Directors and the 12th meeting of the sixth session
of the Board of Supervisors of the Company on May 16 2025.
4. Reviewed and approved at the 14th meeting of the sixth session of the Board of Directors and the 13th meeting of the sixth session
of the Board of Supervisors of the Company on May 23 2025.
5. Reviewed and approved at the 16th meeting of the sixth session of the Board of Directors of the Company on August 11 2025.
6. Reviewed and approved at the 18th meeting of the sixth session of the Board of Directors of the Company on October 30 2025.
Transfer of share ownership
□Applicable □ Not applicable
1. The actual exercisable period for the fifth exercise period under the reserved grant of the 2019 Stock Option Incentive Plan is from
March 21 2025 to November 26 2025.
2. The actual exercisable period for the second exercise period under the reserved grant of the 2021 Stock Option Incentive Plan is
from January 13 2025 to October 17 2025.
3. The actual exercisable period for the third exercise period under initial grant of the 2021 Stock Option Incentive Plan is from February
28 2025 to December 3 2025.
4. The actual exercisable period for the third exercise period under the reserved grant of the 2021 Stock Option Incentive Plan is from
November 24 2025 to October 19 2026.
5. The actual exercisable period for the second exercise period under the 2022 Stock Option Incentive Plan is from May 28 2025 to
December 5 2025.Impact of share changes on financial indicators such as basic earnings per share and diluted earnings per share for the most recent year
and the most recent period and net assets per share attributable to ordinary shareholders of the Company
□ Applicable □Not applicable
Other information that the Company considers necessary or is required by the securities regulator to be disclosed
□ Applicable □Not applicable
2. Changes of restricted shares
□Applicable □ Not applicable
Unit: Share
Number of Number of new Number of Number of Reasons for Date of being
Name of the
restricted restricted shares released restricted restriction on released from
136Luxshare Precision Industry Co. Ltd. 2025 Annual Report
shareholder shares at the shares in the from shares at the sales restriction
beginning of current period restrictions in end of the
the Reporting the current Reporting
Period period Period
Subject to the
Locked-up
release
shares of
conditions for
directors and
Wang Laisheng 11579735 3310875 0 14890610 locked-up
senior
shares of senior
management
management
personnel
personnel
Subject to the
Locked-up
release
shares of
conditions for
directors and
Hao Jie 0 101398 0 101398 locked-up
senior
shares of senior
management
management
personnel
personnel
Subject to the
Locked-up
release
shares of
conditions for
directors and
Qian Jiwen 193500 446994 0 640494 locked-up
senior
shares of senior
management
management
personnel
personnel
Subject to the
Locked-up
release
shares of
conditions for
directors and
Chen Weihang 0 3000 0 3000 locked-up
senior
shares of senior
management
management
personnel
personnel
Subject to the
Locked-up
release
shares of
conditions for
directors and
Wu Tiansong 997404 63899 0 1061303 locked-up
senior
shares of senior
management
management
personnel
personnel
Subject to the
Locked-up
release
shares of
conditions for
directors and
Xiao Yunxi 0 15000 0 15000 locked-up
senior
shares of senior
management
management
personnel
personnel
Total 12770639 3941166 0 16711805 -- --
137Luxshare Precision Industry Co. Ltd. 2025 Annual Report
II. Issuance and Listing of Securities
1. Securities issuance (excluding preferred shares) during the Reporting Period
□ Applicable □Not applicable
2. Changes in the total number of shares and shareholder structure as well as changes in the Company’s asset and liability
structure
□Applicable □ Not applicable
1. As reviewed and approved by the ninth meeting of the sixth session of the Board of Directors the 12th meeting of the sixth session
of the Board of Directors the 13th meeting of the sixth session of the Board of Directors the 14th meeting of the sixth session of the
Board of Directors the 16th meeting of the sixth session of the Board of Directors and the 18th meeting of the sixth session of the
Board of Directors the exercise conditions for the fifth exercise period under the reserved grant of the 2019 Stock Option Incentive
Plan the second exercise period under the reserved grant of the 2021 Stock Option Incentive Plan the third exercise period under the
initial grant of the 2021 Stock Option Incentive Plan the third exercise period under the reserved grant of the 2021 Stock Option
Incentive Plan and the second exercise period of the 2022 Stock Option Incentive Plan had been satisfied. It was agreed that the
relevant stock option incentive recipients could exercise their options through the independent exercise method. During the Reporting
Period incentive recipients independently exercised options resulting in an additional issuance of 47996567 shares.
2. On November 03 2020 the Company publicly offered 30 million convertible corporate bonds (bond abbreviation: Luxshare
Convertible Bond; bond code: 128136). The conversion period for the convertible corporate bonds is from May 10 2021 to November
02 2026. During the Reporting Period the accumulative conversion number of shares converted was 10073.
3. Existing shares held by employees
□ Applicable □Not applicable
III. Shareholders and Actual Controllers
1. Number of shareholders and their shareholdings
Unit: Share
Total
number of
Total
Total preferred
number of
number of shareholders Total number of preferred
ordinary
ordinary with voting shareholders with voting
shareholders
shareholders rights rights restored as at the end
420923 as at the end 568170 0 0
at the end of restored at of the month prior to the
of the month
the the end of the disclosure of this Report (if
prior to the
Reporting Reporting any) (see Note 8)
disclosure of
Period Period (if
this Report
any) (see
Note 8)
Shareholdings by shareholders holding more than 5% of the shares or the top 10 shareholders (excluding shares lent through
refinancing)
Number of Shares pledged
Sharehold Increase/decr Number of
Shareho shares held at Number of marked or frozen
ing ease during non-
Name of the shareholder lder the end of the restricted
percentag the Reporting restricted
type Reporting shares held
e Period shares held Share
Period Quantity status
Foreign
273153763273153761010792
Luxshare Limited legal 37.49% 0 0 Pledge
636000
entity
Foreign
Hong Kong Securities 52796691
legal 7.25% 527966919 73666238 0 N/A 0
Clearing Company Ltd. 9
entity
138Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Domest
ic non-
China Securities Finance state-
1.16% 84428888 0 0 84428888 N/A 0
Corporation Limited owned
legal
entity
Industrial and Commercial
Bank of China Limited —
Huatai-PineBridge CSI 300
Others 1.15% 84015354 3288870 0 84015354 N/A 0
Exchange-traded Open-end
Index Securities Investment
Fund
China Construction Bank
Corporation — E Fund CSI
300 Exchange-traded Open- Others 0.82% 60046597 188900 0 60046597 N/A 0
end Index Securities
Investment Fund
State-
Central Huijin Asset owned
0.80% 58041012 0 0 58041012 N/A 0
Management Ltd. legal
entity
Industrial and Commercial
Bank of China Limited -
China AMC CSI 300
Others 0.63% 45824544 5785200 0 45824544 N/A 0
Exchange-traded Open-end
Index Securities Investment
Fund
Bank of China Limited -
Harvest CSI 300 Exchange-
Others 0.54% 39523184 1584499 0 39523184 N/A 0
traded Open-end Index
Securities Investment Fund
E Fund - Agricultural Bank of
China Limited - E Fund CSI
Others 0.53% 38656343 0 0 38656343 N/A 0
Financial Asset Management
Plan
China Asset Management
Co. Ltd. - Agricultural Bank
of China Limited - China Others 0.53% 38576831 0 0 38576831 N/A 0
AMC CSI Financial Asset
Management Plan
Strategic investors or
general legal entities
becoming top ten
N/A
shareholders due to the
allotment of new shares (if
any) (see Note 3)
Explanation on related 1. Luxshare Limited is the controlling shareholder of the Company;
relationships or concerted
actions among the above 2. The Company is unaware of whether any related relationship exists among the other shareholders
shareholders mentioned above and is also unaware of whether the above shareholders are persons acting in concert.
139Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Explanation on
entrusted/authorized voting
rights or waiver of voting N/A
rights of the above
shareholders
Special account for share
repurchases (if any) among
N/A
the top 10 shareholders (see
Note 10)
Shareholding of the Top 10 shareholders with no share restrictions (excluding shares lent via refinancing locked up shares of senior
management personnel)
Number of non-restricted Share type
Name of the shareholder shares held at the end of the
Reporting Period Share type Quantity
RMB ordinary 273153763
Luxshare Limited 2731537636
shares 6
RMB ordinary
Hong Kong Securities Clearing Company Ltd. 527966919 527966919
shares
RMB ordinary
China Securities Finance Corporation Limited 84428888 84428888
shares
Industrial and Commercial Bank of China Limited — Huatai-
RMB ordinary
PineBridge CSI 300 Exchange-traded Open-end Index 84015354 84015354
shares
Securities Investment Fund
China Construction Bank Corporation — E Fund CSI 300 RMB ordinary
6004659760046597
Exchange-traded Open-end Index Securities Investment Fund shares
RMB ordinary
Central Huijin Asset Management Ltd. 58041012 58041012
shares
Industrial and Commercial Bank of China Limited - China
RMB ordinary
AMC CSI 300 Exchange-traded Open-end Index Securities 45824544 45824544
shares
Investment Fund
Bank of China Limited - Harvest CSI 300 Exchange-traded RMB ordinary
3952318439523184
Open-end Index Securities Investment Fund shares
E Fund - Agricultural Bank of China Limited - E Fund CSI RMB ordinary
3865634338656343
Financial Asset Management Plan shares
China Asset Management Co. Ltd. - Agricultural Bank of
RMB ordinary
China Limited - China AMC CSI Financial Asset Management 38576831 38576831
shares
Plan
Explanation on related relationships or concerted actions among the top 10 shareholders
with unrestricted shares or between the top 10 shareholders with unrestricted shares and N/A
the top 10 shareholders
Explanation on the participation of the top 10 ordinary shareholders in margin and
N/A
securities lending activities (if any) (see Note 4)
140Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Explanation on the lending of shares through the securities refinancing business by shareholders holding 5% or more shares the top
10 shareholders and the top 10 holders of unrestricted shares
□ Applicable □Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the prior
period
□ Applicable □Not applicable
Whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any
promissory repo during the Reporting Period
□ Yes □No
The top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company did not conduct any promissory repo
during the Reporting Period.
2. Controlling shareholders of the Company
Nature of controlling shareholder: Foreign-controlled
Type of controlling shareholder: Legal entity
Legal
Name of controlling Unified social credit
representative/person Date of establishment Principal business
shareholder code
in charge
Wang Laichun Wang
Luxshare Limited August 27 1999 686629 Investment and holding
Laisheng
Particulars about shareholding of
controlling shareholders controlling
and holding shares of other listed None
companies during the Reporting
Period
Changes in the controlling shareholder during the Reporting Period
□ Applicable □Not applicable
The controlling shareholder did not change during the Reporting Period.
3. Information about the actual controllers and their acting-in-concert persons
Nature of actual controller: Overseas natural person
Type of actual controller: Natural person
Whether the actual controller
Relationship with the actual has obtained the right of
Name of actual controller Nationality
controller residence in other countries or
regions
Wang Laichun In person Hong Kong China No
Wang Laisheng In person Hong Kong China No
Ms. Wang Laichun currently serves as Chairperson of the Board and General Manager of the
Company. In 1999 Ms. Wang Laichun and Mr. Wang Laisheng jointly acquired the equity
interests of Luxshare Limited. In 2004 through Luxshare Limited they invested in and established
Main occupations and
Luxshare Precision Industry (Shenzhen) Co. Ltd. (now Luxshare Precision Industry Co. Ltd.)
positions
and Ms. Wang Laichun has served as Chairperson of the Board of Directors.Mr. Wang Laisheng currently serves as Vice Chairperson of the Company. In 1999 Mr. Wang
Laisheng and Ms. Wang Laichun jointly acquired the equity interests of Luxshare Limited. In
141Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2004 together with Ms. Wang Laichun he co-founded Luxshare Precision Industry (Shenzhen)
Co. Ltd. (now Luxshare Precision Industry Co. Ltd.).Domestic and foreign listed
companies controlled by the
None
actual controllers in the last 10
years
Changes in the actual controllers during the Reporting Period
□ Applicable □Not applicable
The actual controllers did not change during the Reporting Period.Ownership and control relations between the Company and the actual controllers
王来春 Wang Laichun
王来胜 Wang Laisheng
立讯有限公司 Luxshare Limited
立讯精密 Luxshare-ICT
The actual controllers control the Company through trusts or other asset management methods
□ Applicable □Not applicable
4. The controlling shareholder or the largest shareholder and their persons acting in concert have pledged shares amounting
to 80% of their shareholdings in the Company
□ Applicable □Not applicable
5. Other corporate shareholders holding more than 10%
□ Applicable □Not applicable
6. Restrictions on shareholding reductions by controlling shareholders actual controllers restructuring parties and other
commitment parties
□ Applicable □Not applicable
IV. Specific Implementation of Share Repurchase during the Reporting Period
Progress on share repurchase
□ Applicable □Not applicable
Progress of the implementation of reduction of repurchased shares through centralized bidding
□ Applicable □Not applicable
V. Preferred Shares
□ Applicable □Not applicable
The Company had no preferred shares during the Reporting Period.
142Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section VII Bonds
□Applicable □ Not applicable
I. Enterprise Bonds
□ Applicable □Not applicable
The Company had no enterprise bonds during the Reporting Period.II. Corporate Bonds
□ Applicable □Not applicable
The Company had no corporate bonds during the Reporting Period.III. Debt Financing Instruments of Non-financial Enterprises
□Applicable □ Not applicable
1. Basic information on debt financing instruments of non-financial enterprises
Unit: RMB10000
Principal
Abbreviati Date of Bond Interest Trading
Bond name Bond code Value date Due date and interest
on issue balance rate venue
repayment
Luxshare
Precision
Industry Co. Principal
Ltd. 2024 24 and interest Interbank
Third Luxshare- June 27 June 28 March 25 repayment Market
01248200400.0201
Tranche ICT 2024 2024 2025 in lump Clearing
Super & SCP003 sum at House
Short-term maturity
Commercial
Paper
Luxshare
Precision
Industry Co. Principal
Ltd. 2024 24 and interest Interbank
Fourth Luxshare- July 11 July 12 April 3 repayment Market
01248213800.0197
Tranche ICT 2024 2024 2025 in lump Clearing
Super & SCP004 sum at House
Short-term maturity
Commercial
Paper
Luxshare
Precision
Industry Co.
24
Ltd. 2024 Principal
Luxshare-
Fifth Tranche and interest Interbank
ICT
Super & July 23 July 24 April 18 repayment Market
SCP005 012482250 0 0.0196
Short-term 2024 2024 2025 in lump Clearing
(Sci-Tech
Commercial sum at House
Innovation
Paper (Sci- maturity
Note)
Tech
Innovation
Note)
Luxshare 24 Principal
Precision Luxshare- September September June 17
Interbank
012483117 0 0.0214 and interest Market
Industry Co. ICT 19 2024 20 2024 2025 repayment
Clearing
Ltd. 2024 SCP006 in lump
143Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Sixth (Sci-Tech sum at House
Tranche Innovation maturity
Super & Note)
Short-term
Commercial
Paper (Sci-
Tech
Innovation
Note)
Luxshare
Precision
Industry Co. Principal
Ltd. 2024 24 and interest Interbank
24
Seventh Luxshare- September June 20 repayment Market
012483184 September 0 0.0215
Tranche ICT 25 2024 2025 in lump Clearing
2024
Super & SCP007 sum at House
Short-term maturity
Commercial
Paper
Interest
Luxshare
payable
Precision
25 annually Interbank
Industry Co.Luxshare- January 9 January 13 January 13 and Market
Ltd. 2025 102580164 150000 0.0209
ICT 2025 2025 2028 principal Clearing
First Tranche
MTN001 and interest House
Medium-
payable at
term Note
maturity
Luxshare Interest
Precision payable
Industry Co. 25 annually Interbank
Ltd. 2025 Luxshare- February February February and Market
1025806241500000.022
Second ICT 17 2025 19 2025 19 2028 principal Clearing
Tranche MTN002 and interest House
Medium- payable at
term Note maturity
Luxshare
25
Precision Principal
Luxshare-
Industry Co. and interest Interbank
ICT
Ltd. 2025 May 9 May 12 February 6 repayment Market
SCP001 012581124 100000 0.0171
First Tranche 2025 2025 2026 in lump Clearing
(Sci-Tech
Technology sum at House
Innovation
Innovation maturity
Bond)
Bond
Luxshare
Precision 25
Principal
Industry Co. Luxshare-
and interest Interbank
Ltd. 2025 ICT
June 6 June 9 December repayment Market
Second SCP002 012581299 0 0.0165
2025 2025 6 2025 in lump Clearing
Tranche (Sci-Tech
sum at House
Technology Innovation
maturity
Innovation Bond)
Bond
Luxshare 25
Principal
Precision Luxshare- Interbank
and interest
Industry Co. ICT July 8 July 9 April 3 Market 012581613 100000 0.0156 repayment
Ltd. 2025 SCP003 2025 2025 2026 Clearing
in lump
Third (Sci-Tech House
sum at
Tranche Innovation
144Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology Bond) maturity
Innovation
Bond
Luxshare
Precision 25
Principal
Industry Co. Luxshare-
and interest Interbank
Ltd. 2025 ICT
October 24 October 27 July 24 repayment Market
Fourth SCP004 012582590 100000 0.0174
2025 2025 2026 in lump Clearing
Tranche (Sci-Tech
sum at House
Technology Innovation
maturity
Innovation Bond)
Bond
Luxshare
25
Precision Principal
Luxshare-
Industry Co. and interest Interbank
ICT
Ltd. 2025 November November August 14 repayment Market
SCP005 012582798 80000 0.017
Fifth Tranche 18 2025 19 2025 2026 in lump Clearing
(Sci-Tech
Technology sum at House
Innovation
Innovation maturity
Bond)
Bond
Luxshare
Precision 25
Principal
Industry Co. Luxshare-
and interest Interbank
Ltd. 2025 ICT
December December September repayment Market
Sixth SCP006 012583042 120000 0.0173
11 2025 12 2025 8 2026 in lump Clearing
Tranche (Sci-Tech
sum at House
Technology Innovation
maturity
Innovation Bond)
Bond
Luxshare
Precision 25
Principal
Industry Co. Luxshare-
and interest Interbank
Ltd. 2025 ICT
December December September repayment Market
Seventh SCP007 012583145 100000 0.0177
23 2025 24 2025 18 2026 in lump Clearing
Tranche (Sci-Tech
sum at House
Technology Innovation
maturity
Innovation Bond)
Bond
Institutional investors in the national interbank bond market (excluding purchasers prohibited
Investor eligibility arrangement (if any)
by national laws and regulations)
Applicable trading mechanism Public trading
Risk of termination of listing and trading
No
(if any) and countermeasures
Bonds overdue and unpaid
□ Applicable □Not applicable
2. Triggering and implementation of issuer or investor option clauses and investor protection clauses
□ Applicable □Not applicable
145Luxshare Precision Industry Co. Ltd. 2025 Annual Report
3. Information on intermediaries
Contact
Signing
Bond project name Intermediary name Office address person at Contact number
accountants
intermediary
Luxshare Precision Industry 5047 Shennan East
Co. Ltd. 2024 Third Tranche Road Luohu District
PingAn Bank Co. Ltd. None Dai Yichi 0755-88675975
Super & Short-term Shenzhen Guangdong
Commercial Paper Province
Luxshare Precision Industry 20/F Tower 3 Kerry
Co. Ltd. 2024 Third Tranche Han Kun Law Offices Plaza No. 1 Central
None Li Jianhui 0755-36806500
Super & Short-term (Shenzhen) Fourth Road Futian
Commercial Paper District Shenzhen
Luxshare Precision Industry 10/F Building 7 Yard
BDO China Shu Lun Pan
Co. Ltd. 2024 Third Tranche 16 West 4th Ring Li Jing
Certified Public Zhu Jiandi 010-88210608
Super & Short-term Middle Road Haidian Zhen Zhijie
Accountants LLP
Commercial Paper District Beijing
Units 1101 1102 and
Luxshare Precision Industry 1103 11/F South
Co. Ltd. 2024 Third Tranche Golden Credit Rating Block Building 1 3
None Xing Dong 0755-62299850
Super & Short-term International Co. Ltd. Chaowai West Street
Commercial Paper Chaoyang District
Beijing
Luxshare Precision Industry 33-34/F Oriental
Co. Ltd. 2024 Third Tranche Interbank Market International Finance
None Ma Jianyang 021-63326662
Super & Short-term Clearing House Co. Ltd. Plaza 318 Zhongshan
Commercial Paper South Road Shanghai
Luxshare Precision Industry CITIC Tower 10
Co. Ltd. 2024 Fourth China CITIC Bank Guanghua Road
None Zhao Zhipeng 010-66635951
Tranche Super & Short-term Corporation Limited Chaoyang District
Commercial Paper Beijing
Luxshare Precision Industry 20/F Tower 3 Kerry
Co. Ltd. 2024 Fourth Han Kun Law Offices Plaza No. 1 Central
None Li Jianhui 0755-36806500
Tranche Super & Short-term (Shenzhen) Fourth Road Futian
Commercial Paper District Shenzhen
Luxshare Precision Industry 10/F Building 7 Yard
BDO China Shu Lun Pan
Co. Ltd. 2024 Fourth 16 West 4th Ring Li Jing
Certified Public Zhu Jiandi 010-88210608
Tranche Super & Short-term Middle Road Haidian Zhen Zhijie
Accountants LLP
Commercial Paper District Beijing
Units 1101 1102 and
Luxshare Precision Industry 1103 11/F South
Co. Ltd. 2024 Fourth Golden Credit Rating Block Building 1 3
None Li Xiaomei 0755-82710576
Tranche Super & Short-term International Co. Ltd. Chaowai West Street
Commercial Paper Chaoyang District
Beijing
Luxshare Precision Industry 33-34/F Oriental
Co. Ltd. 2024 Fourth Interbank Market International Finance
None Ma Jianyang 021-63326662
Tranche Super & Short-term Clearing House Co. Ltd. Plaza 318 Zhongshan
Commercial Paper South Road Shanghai
146Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare Precision Industry
Co. Ltd. 2024 Fifth Tranche
Bank of Shanghai Co. 168 Yincheng Central
Super & Short-term None Yan Yijia 021-68475804
Ltd. Road Shanghai
Commercial Paper (Sci-Tech
Innovation Note)
Luxshare Precision Industry
20/F Tower 3 Kerry
Co. Ltd. 2024 Fifth Tranche
Han Kun Law Offices Plaza No. 1 Central
Super & Short-term None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Commercial Paper (Sci-Tech
District Shenzhen
Innovation Note)
Luxshare Precision Industry
10/F Building 7 Yard
Co. Ltd. 2024 Fifth Tranche BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Super & Short-term Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Commercial Paper (Sci-Tech Accountants LLP
District Beijing
Innovation Note)
Units 1101 1102 and
Luxshare Precision Industry
1103 11/F South
Co. Ltd. 2024 Fifth Tranche
Golden Credit Rating Block Building 1 3
Super & Short-term None Li Xiaomei 0755-82710576
International Co. Ltd. Chaowai West Street
Commercial Paper (Sci-Tech
Chaoyang District
Innovation Note)
Beijing
Luxshare Precision Industry
33-34/F Oriental
Co. Ltd. 2024 Fifth Tranche
Interbank Market International Finance
Super & Short-term None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Commercial Paper (Sci-Tech
South Road Shanghai
Innovation Note)
Luxshare Precision Industry
Co. Ltd. 2024 Sixth Tranche 688 Zhongshan South
Bank of Shanghai Co.Super & Short-term Road Huangpu None Yan Yijia 021-68475804
Ltd.Commercial Paper (Sci-Tech District Shanghai
Innovation Note)
Luxshare Precision Industry
20/F Tower 3 Kerry
Co. Ltd. 2024 Sixth Tranche
Han Kun Law Offices Plaza No. 1 Central
Super & Short-term None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Commercial Paper (Sci-Tech
District Shenzhen
Innovation Note)
Luxshare Precision Industry
10/F Building 7 Yard
Co. Ltd. 2024 Sixth Tranche BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Super & Short-term Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Commercial Paper (Sci-Tech Accountants LLP
District Beijing
Innovation Note)
Units 1101 1102 and
Luxshare Precision Industry
1103 11/F South
Co. Ltd. 2024 Sixth Tranche
Golden Credit Rating Block Building 1 3
Super & Short-term None Li Xiaomei 0755-82710576
International Co. Ltd. Chaowai West Street
Commercial Paper (Sci-Tech
Chaoyang District
Innovation Note)
Beijing
Luxshare Precision Industry
33-34/F Oriental
Co. Ltd. 2024 Sixth Tranche
Interbank Market International Finance
Super & Short-term None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Commercial Paper (Sci-Tech
South Road Shanghai
Innovation Note)
147Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare Precision Industry 5047 Shennan East
Co. Ltd. 2024 Seventh Road Luohu District
PingAn Bank Co. Ltd. None Wang Shujuan 0755-88677955
Tranche Super & Short-term Shenzhen Guangdong
Commercial Paper Province
Luxshare Precision Industry CITIC Tower 10
Co. Ltd. 2024 Seventh China CITIC Bank Guanghua Road
None Zhao Zhipeng 010-66635951
Tranche Super & Short-term Corporation Limited Chaoyang District
Commercial Paper Beijing
Luxshare Precision Industry 20/F Tower 3 Kerry
Co. Ltd. 2024 Seventh Han Kun Law Offices Plaza No. 1 Central
None Li Jianhui 0755-36806500
Tranche Super & Short-term (Shenzhen) Fourth Road Futian
Commercial Paper District Shenzhen
Luxshare Precision Industry 10/F Building 7 Yard
BDO China Shu Lun Pan
Co. Ltd. 2024 Seventh 16 West 4th Ring Li Jing
Certified Public Zhu Jiandi 010-88210608
Tranche Super & Short-term Middle Road Haidian Zhen Zhijie
Accountants LLP
Commercial Paper District Beijing
Units 1101 1102 and
Luxshare Precision Industry 1103 11/F South
Co. Ltd. 2024 Seventh Golden Credit Rating Block Building 1 3
None Li Xiaomei 0755-82710576
Tranche Super & Short-term International Co. Ltd. Chaowai West Street
Commercial Paper Chaoyang District
Beijing
Luxshare Precision Industry 33-34/F Oriental
Co. Ltd. 2024 Seventh Interbank Market International Finance
None Ma Jianyang 021-63326662
Tranche Super & Short-term Clearing House Co. Ltd. Plaza 318 Zhongshan
Commercial Paper South Road Shanghai
Luxshare Precision Industry 688 Zhongshan South
Bank of Shanghai Co.Co. Ltd. 2025 First Tranche Road Huangpu None Fan Wenyu 021-68475576
Ltd.Medium-term Note District Shanghai
6-30/F and 32-42/F
Luxshare Precision Industry Building 1 10
China CITIC Bank
Co. Ltd. 2025 First Tranche Guanghua Road None Zhao Zhipeng 010-66635951
Corporation Limited
Medium-term Note Chaoyang District
Beijing
26/F South Tower
Ping An Finance
Luxshare Precision Industry
Center 5033 Yitian
Co. Ltd. 2025 First Tranche PingAn Bank Co. Ltd. None Wang Shujuan 0755-88677955
Road Futian District
Medium-term Note
Shenzhen City
Guangdong Province
Guangdong
Development Bank
Luxshare Precision Industry
China Guangfa Bank Co. Building 713
Co. Ltd. 2025 First Tranche None Wang Yixin 020-38322360
Ltd. Dongfeng East Road
Medium-term Note
Yuexiu District
Guangzhou
168 Jiefang East Road
Luxshare Precision Industry
Bank of Hangzhou Co. Shangcheng District Zheng
Co. Ltd. 2025 First Tranche None 0755-83885343
Ltd. Hangzhou City Shuihua
Medium-term Note
Zhejiang Province
148Luxshare Precision Industry Co. Ltd. 2025 Annual Report
345 Ningdong Road
Luxshare Precision Industry
Yinzhou District
Co. Ltd. 2025 First Tranche Bank of Ningbo Co. Ltd. None Zhang Shuhua 021-23262637
Ningbo City Zhejiang
Medium-term Note
Province
Luxshare Precision Industry 30 Fuxingmennei
Export-Import Bank of Liu
Co. Ltd. 2025 First Tranche Avenue Xicheng None 010-83578650
China Chengcheng
Medium-term Note District Beijing
20/F Tower 3 Kerry
Luxshare Precision Industry
Han Kun Law Offices Plaza No. 1 Central
Co. Ltd. 2025 First Tranche None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Medium-term Note
District Shenzhen
10/F Building 7 Yard
Luxshare Precision Industry BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Co. Ltd. 2025 First Tranche Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Medium-term Note Accountants LLP
District Beijing
Room 4401-1 44/F
Luxshare Precision Industry within 101 5/F to 45/F
Golden Credit Rating
Co. Ltd. 2025 First Tranche Building 3 24 Lize None Li Xiaomei 0755-82710576
International Co. Ltd.Medium-term Note Road Fengtai District
Beijing
33-34/F Oriental
Luxshare Precision Industry
Interbank Market International Finance
Co. Ltd. 2025 First Tranche None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Medium-term Note
South Road Shanghai
Luxshare Precision Industry B17 Financial Street
Beijing Financial Assets
Co. Ltd. 2025 First Tranche Xicheng District None Guo Bing 010-57896722
Exchange Co. Ltd.Medium-term Note Beijing
Luxshare Precision Industry 688 Zhongshan South
Bank of Shanghai Co.Co. Ltd. 2025 Second Road Huangpu None Fan Wenyu 021-68475576
Ltd.Tranche Medium-term Note District Shanghai
6-30/F and 32-42/F
Luxshare Precision Industry Building 1 10
China CITIC Bank
Co. Ltd. 2025 Second Guanghua Road None Zhao Zhipeng 010-66635951
Corporation Limited
Tranche Medium-term Note Chaoyang District
Beijing
26/F South Tower
Ping An Finance
Luxshare Precision Industry
Center 5033 Yitian
Co. Ltd. 2025 Second PingAn Bank Co. Ltd. None Wang Shujuan 0755-88677955
Road Futian District
Tranche Medium-term Note
Shenzhen City
Guangdong Province
168 Jiefang East Road
Luxshare Precision Industry
Bank of Hangzhou Co. Shangcheng District Zheng
Co. Ltd. 2025 Second None 0755-83885343
Ltd. Hangzhou City Shuihua
Tranche Medium-term Note
Zhejiang Province
Luxshare Precision Industry 30 Fuxingmennei
Export-Import Bank of Liu
Co. Ltd. 2025 Second Avenue Xicheng None 010-83578650
China Chengcheng
Tranche Medium-term Note District Beijing
149Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare Precision Industry 218 Haihe East Road
China Bohai Bank Co.Co. Ltd. 2025 Second Hedong District None Qiao Hanqing 0755-36806128
Ltd.Tranche Medium-term Note Tianjin China
China Merchants Bank
Luxshare Precision Industry
China Merchants Bank Shenzhen Branch
Co. Ltd. 2025 Second None Luo Yingying 0755-88026159
Co. Ltd. Building Futian
Tranche Medium-term Note
District Shenzhen
Luxshare Precision Industry 3 Financial Street
Postal Savings Bank of
Co. Ltd. 2025 Second Xicheng District None Hao Zilong 010-68858100
China Co. Ltd.Tranche Medium-term Note Beijing
20/F Tower 3 Kerry
Luxshare Precision Industry
Han Kun Law Offices Plaza No. 1 Central
Co. Ltd. 2025 Second None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Tranche Medium-term Note
District Shenzhen
10/F Building 7 Yard
Luxshare Precision Industry BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Co. Ltd. 2025 Second Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Tranche Medium-term Note Accountants LLP
District Beijing
Room 4401-1 44/F
Luxshare Precision Industry within 101 5/F to 45/F
Golden Credit Rating
Co. Ltd. 2025 Second Building 3 24 Lize None Li Xiaomei 0755-82710576
International Co. Ltd.Tranche Medium-term Note Road Fengtai District
Beijing
33-34/F Oriental
Luxshare Precision Industry
Interbank Market International Finance
Co. Ltd. 2025 Second None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Tranche Medium-term Note
South Road Shanghai
Luxshare Precision Industry B17 Financial Street
Beijing Financial Assets
Co. Ltd. 2025 Second Xicheng District None Guo Bing 010-57896722
Exchange Co. Ltd.Tranche Medium-term Note Beijing
Luxshare Precision Industry 688 Zhongshan South
Bank of Shanghai Co.Co. Ltd. 2025 First Tranche Road Huangpu None Fan Wenyu 021-31915576
Ltd.Technology Innovation Bond District Shanghai
Luxshare Precision Industry 1 Fuxingmennei
Co. Ltd. 2025 First Tranche Bank of China Limited Avenue Xicheng None Dai Weihua 010-66595482
Technology Innovation Bond District Beijing
1788 Hongning Road
Luxshare Precision Industry
China Zheshang Bank Xiaoshan District
Co. Ltd. 2025 First Tranche None Cai Yingni 0755-23888727
Co. Ltd. Hangzhou City
Technology Innovation Bond
Zhejiang Province
168 Jiefang East Road
Luxshare Precision Industry
Bank of Hangzhou Co. Shangcheng District Zheng
Co. Ltd. 2025 First Tranche None 0755-83885343
Ltd. Hangzhou City Shuihua
Technology Innovation Bond
Zhejiang Province
Luxshare Precision Industry 69 Jianguomen Nei
Agricultural Bank of
Co. Ltd. 2025 First Tranche Avenue Dongcheng None Liu Zhaoying 010-85109688
China Limited
Technology Innovation Bond District Beijing
150Luxshare Precision Industry Co. Ltd. 2025 Annual Report
CITIC Tower
Luxshare Precision Industry
China CITIC Bank Guanghua Road
Co. Ltd. 2025 First Tranche None Zhao Zhipeng 010-66635951
Corporation Limited Chaoyang District
Technology Innovation Bond
Beijing
20/F Tower 3 Kerry
Luxshare Precision Industry
Han Kun Law Offices Plaza No. 1 Central
Co. Ltd. 2025 First Tranche None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Technology Innovation Bond
District Shenzhen
10/F Building 7 Yard
Luxshare Precision Industry BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Co. Ltd. 2025 First Tranche Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Technology Innovation Bond Accountants LLP
District Beijing
Room 4401-1 44/F
Luxshare Precision Industry within 101 5/F to 45/F
Golden Credit Rating
Co. Ltd. 2025 First Tranche Building 3 24 Lize None Li Xiaomei 0755-82710576
International Co. Ltd.Technology Innovation Bond Road Fengtai District
Beijing
33-34/F Oriental
Luxshare Precision Industry
Interbank Market International Finance
Co. Ltd. 2025 First Tranche None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Technology Innovation Bond
South Road Shanghai
Luxshare Precision Industry B17 Financial Street
Beijing Financial Assets
Co. Ltd. 2025 First Tranche Xicheng District None Guo Bing 010-57896722
Exchange Co. Ltd.Technology Innovation Bond Beijing
Luxshare Precision Industry CITIC Tower 10
Co. Ltd. 2025 Second China CITIC Bank Guanghua Road
None Zhao Zhipeng 010-66635951
Tranche Technology Corporation Limited Chaoyang District
Innovation Bond Beijing
Luxshare Precision Industry
Industrial and 55 Fuxingmennei
Co. Ltd. 2025 Second
Commercial Bank of Avenue Xicheng None He Shiyue 010-81011218
Tranche Technology
China Limited District Beijing
Innovation Bond
Luxshare Precision Industry 20/F Tower 3 Kerry
Co. Ltd. 2025 Second Han Kun Law Offices Plaza No. 1 Central
None Li Jianhui 0755-36806500
Tranche Technology (Shenzhen) Fourth Road Futian
Innovation Bond District Shenzhen
Luxshare Precision Industry 10/F Building 7 Yard
BDO China Shu Lun Pan
Co. Ltd. 2025 Second 16 West 4th Ring Li Jing
Certified Public Zhu Jiandi 010-88210608
Tranche Technology Middle Road Haidian Zhen Zhijie
Accountants LLP
Innovation Bond District Beijing
Room 4401-1 44/F
Luxshare Precision Industry
within 101 5/F to 45/F
Co. Ltd. 2025 Second Golden Credit Rating
Building 3 24 Lize None Li Xiaomei 0755-82710576
Tranche Technology International Co. Ltd.Road Fengtai District
Innovation Bond
Beijing
Luxshare Precision Industry 33-34/F Oriental
Co. Ltd. 2025 Second Interbank Market International Finance
None Ma Jianyang 021-63326662
Tranche Technology Clearing House Co. Ltd. Plaza 318 Zhongshan
Innovation Bond South Road Shanghai
151Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare Precision Industry
B17 Financial Street
Co. Ltd. 2025 Second Beijing Financial Assets
Xicheng District None Guo Bing 010-57896722
Tranche Technology Exchange Co. Ltd.Beijing
Innovation Bond
168 Jiefang East Road
Luxshare Precision Industry
Bank of Hangzhou Co. Shangcheng District Zheng
Co. Ltd. 2025 Third Tranche None 0755-83885343
Ltd. Hangzhou City Shuihua
Technology Innovation Bond
Zhejiang Province
Luxshare Precision Industry Industrial and 55 Fuxingmennei
Co. Ltd. 2025 Third Tranche Commercial Bank of Avenue Xicheng None He Shiyue 010-81011218
Technology Innovation Bond China Limited District Beijing
Luxshare Precision Industry 69 Jianguomen Nei
Agricultural Bank of
Co. Ltd. 2025 Third Tranche Avenue Dongcheng None Liu Zhaoying 010-85109688
China Limited
Technology Innovation Bond District Beijing
1788 Hongning Road
Luxshare Precision Industry
China Zheshang Bank Xiaoshan District
Co. Ltd. 2025 Third Tranche None Cai Yingni 0755-23888727
Co. Ltd. Hangzhou City
Technology Innovation Bond
Zhejiang Province
Luxshare Precision Industry 218 Haihe East Road
China Bohai Bank Co.Co. Ltd. 2025 Third Tranche Hedong District None Qiao Hanqing 0755-36806128
Ltd.Technology Innovation Bond Tianjin China
20/F Tower 3 Kerry
Luxshare Precision Industry
Han Kun Law Offices Plaza No. 1 Central
Co. Ltd. 2025 Third Tranche None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Technology Innovation Bond
District Shenzhen
10/F Building 7 Yard
Luxshare Precision Industry BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Co. Ltd. 2025 Third Tranche Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Technology Innovation Bond Accountants LLP
District Beijing
Room 4401-1 44/F
Luxshare Precision Industry within 101 5/F to 45/F
Golden Credit Rating
Co. Ltd. 2025 Third Tranche Building 3 24 Lize None Li Xiaomei 0755-82710576
International Co. Ltd.Technology Innovation Bond Road Fengtai District
Beijing
33-34/F Oriental
Luxshare Precision Industry
Interbank Market International Finance
Co. Ltd. 2025 Third Tranche None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Technology Innovation Bond
South Road Shanghai
Luxshare Precision Industry B17 Financial Street
Beijing Financial Assets
Co. Ltd. 2025 Third Tranche Xicheng District None Guo Bing 010-57896722
Exchange Co. Ltd.Technology Innovation Bond Beijing
Luxshare Precision Industry 168 Jiefang East Road
Co. Ltd. 2025 Fourth Bank of Hangzhou Co. Shangcheng District Zheng
None 0755-83885343
Tranche Technology Ltd. Hangzhou City Shuihua
Innovation Bond Zhejiang Province
Luxshare Precision Industry Bank of Shanghai Co. 688 Zhongshan South
Co. Ltd. 2025 Fourth None Fan Wenyu 021-31915576 Ltd. Road Huangpu
Tranche Technology
152Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Innovation Bond District Shanghai
Luxshare Precision Industry 20/F Tower 3 Kerry
Co. Ltd. 2025 Fourth Han Kun Law Offices Plaza No. 1 Central
None Li Jianhui 0755-36806500
Tranche Technology (Shenzhen) Fourth Road Futian
Innovation Bond District Shenzhen
Luxshare Precision Industry 10/F Building 7 Yard
BDO China Shu Lun Pan
Co. Ltd. 2025 Fourth 16 West 4th Ring Li Jing
Certified Public Zhu Jiandi 010-88210608
Tranche Technology Middle Road Haidian Zhen Zhijie
Accountants LLP
Innovation Bond District Beijing
Room 4401-1 44/F
Luxshare Precision Industry
within 101 5/F to 45/F
Co. Ltd. 2025 Fourth Golden Credit Rating
Building 3 24 Lize None Li Xiaomei 0755-82710576
Tranche Technology International Co. Ltd.Road Fengtai District
Innovation Bond
Beijing
Luxshare Precision Industry 33-34/F Oriental
Co. Ltd. 2025 Fourth Interbank Market International Finance
None Ma Jianyang 021-63326662
Tranche Technology Clearing House Co. Ltd. Plaza 318 Zhongshan
Innovation Bond South Road Shanghai
Luxshare Precision Industry
B17 Financial Street
Co. Ltd. 2025 Fourth Beijing Financial Assets
Xicheng District None Guo Bing 010-57896722
Tranche Technology Exchange Co. Ltd.Beijing
Innovation Bond
168 Jiefang East Road
Luxshare Precision Industry
Bank of Hangzhou Co. Shangcheng District Zheng
Co. Ltd. 2025 Fifth Tranche None 0755-83885343
Ltd. Hangzhou City Shuihua
Technology Innovation Bond
Zhejiang Province
Luxshare Precision Industry 688 Zhongshan South
Bank of Shanghai Co.Co. Ltd. 2025 Fifth Tranche Road Huangpu None Fan Wenyu 021-31915576
Ltd.Technology Innovation Bond District Shanghai
Luxshare Precision Industry 2 Fuxingmennei
China Minsheng Bank
Co. Ltd. 2025 Fifth Tranche Avenue Xicheng None Huang Jun 0755-82806428
Co. Ltd.Technology Innovation Bond District Beijing
Guangdong
Development Bank
Luxshare Precision Industry
China Guangfa Bank Co. Building 713 Wang
Co. Ltd. 2025 Fifth Tranche None 020-38322360
Ltd. Dongfeng East Road Xiangbo
Technology Innovation Bond
Yuexiu District
Guangzhou
20/F Tower 3 Kerry
Luxshare Precision Industry
Han Kun Law Offices Plaza No. 1 Central
Co. Ltd. 2025 Fifth Tranche None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Technology Innovation Bond
District Shenzhen
10/F Building 7 Yard
Luxshare Precision Industry BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Co. Ltd. 2025 Fifth Tranche Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Technology Innovation Bond Accountants LLP
District Beijing
Luxshare Precision Industry Golden Credit Rating
Room 4401-1 44/F
International Co. Ltd. within 101 5/F to 45/F
None Li Xiaomei 0755-82710576
Co. Ltd. 2025 Fifth Tranche
Building 3 24 Lize
153Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology Innovation Bond Road Fengtai District
Beijing
33-34/F Oriental
Luxshare Precision Industry
Interbank Market International Finance
Co. Ltd. 2025 Fifth Tranche None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Technology Innovation Bond
South Road Shanghai
Luxshare Precision Industry B17 Financial Street
Beijing Financial Assets
Co. Ltd. 2025 Fifth Tranche Xicheng District None Guo Bing 010-57896722
Exchange Co. Ltd.Technology Innovation Bond Beijing
168 Jiefang East Road
Luxshare Precision Industry
Bank of Hangzhou Co. Shangcheng District Zheng
Co. Ltd. 2025 Sixth Tranche None 0755-83885343
Ltd. Hangzhou City Shuihua
Technology Innovation Bond
Zhejiang Province
188 Yincheng Middle
Luxshare Precision Industry
Bank of Communications Road China
Co. Ltd. 2025 Sixth Tranche None Ye Xiaoling 0755-88020392
Co. Ltd. (Shanghai) Pilot Free
Technology Innovation Bond
Trade Zone
Luxshare Precision Industry 2 Fuxingmennei
China Minsheng Bank
Co. Ltd. 2025 Sixth Tranche Avenue Xicheng None Huang Jun 0755-82806428
Co. Ltd.Technology Innovation Bond District Beijing
Industrial Bank Tower
Luxshare Precision Industry 398 Jiangbinzhong
Co. Ltd. 2025 Sixth Tranche Industrial Bank Co. Ltd. Avenue Taijiang None Zhao Zhao 0755-82989325
Technology Innovation Bond District Fuzhou City
Fujian Province
Guangdong
Development Bank
Luxshare Precision Industry
China Guangfa Bank Co. Building 713 Wang
Co. Ltd. 2025 Sixth Tranche None 020-38322360
Ltd. Dongfeng East Road Xiangbo
Technology Innovation Bond
Yuexiu District
Guangzhou
20/F Tower 3 Kerry
Luxshare Precision Industry
Han Kun Law Offices Plaza No. 1 Central
Co. Ltd. 2025 Sixth Tranche None Li Jianhui 0755-36806500
(Shenzhen) Fourth Road Futian
Technology Innovation Bond
District Shenzhen
10/F Building 7 Yard
Luxshare Precision Industry BDO China Shu Lun Pan
16 West 4th Ring Li Jing
Co. Ltd. 2025 Sixth Tranche Certified Public Zhu Jiandi 010-88210608
Middle Road Haidian Zhen Zhijie
Technology Innovation Bond Accountants LLP
District Beijing
Room 4401-1 44/F
Luxshare Precision Industry within 101 5/F to 45/F
Golden Credit Rating
Co. Ltd. 2025 Sixth Tranche Building 3 24 Lize None Li Xiaomei 0755-82710576
International Co. Ltd.Technology Innovation Bond Road Fengtai District
Beijing
33-34/F Oriental
Luxshare Precision Industry
Interbank Market International Finance
Co. Ltd. 2025 Sixth Tranche None Ma Jianyang 021-63326662
Clearing House Co. Ltd. Plaza 318 Zhongshan
Technology Innovation Bond
South Road Shanghai
154Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare Precision Industry B17 Financial Street
Beijing Financial Assets
Co. Ltd. 2025 Sixth Tranche Xicheng District None Guo Bing 010-57896722
Exchange Co. Ltd.Technology Innovation Bond Beijing
Luxshare Precision Industry 168 Jiefang East Road
Co. Ltd. 2025 Seventh Bank of Hangzhou Co. Shangcheng District Zheng
None 0755-83885343
Tranche Technology Ltd. Hangzhou City Shuihua
Innovation Bond Zhejiang Province
Luxshare Precision Industry 188 Yincheng Middle
Co. Ltd. 2025 Seventh Bank of Communications Road China
None Ye Xiaoling 0755-88020392
Tranche Technology Co. Ltd. (Shanghai) Pilot Free
Innovation Bond Trade Zone
Luxshare Precision Industry 20/F Tower 3 Kerry
Li Jianhui
Co. Ltd. 2025 Seventh Han Kun Law Offices Plaza No. 1 Central
None Wen Yi and 0755-36806500
Tranche Technology (Shenzhen) Fourth Road Futian
Guo Qilin
Innovation Bond District Shenzhen
Luxshare Precision Industry 10/F Building 7 Yard
BDO China Shu Lun Pan
Co. Ltd. 2025 Seventh 16 West 4th Ring Li Jing
Certified Public Zhu Jiandi 010-88210608
Tranche Technology Middle Road Haidian Zhen Zhijie
Accountants LLP
Innovation Bond District Beijing
Room 4401-1 44/F
Luxshare Precision Industry
within 101 5/F to 45/F
Co. Ltd. 2025 Seventh Golden Credit Rating
Building 3 24 Lize None Li Xiaomei 0755-82710576
Tranche Technology International Co. Ltd.Road Fengtai District
Innovation Bond
Beijing
Luxshare Precision Industry
2 Beijing East Road
Co. Ltd. 2025 Seventh Interbank Market
Huangpu District None Ma Jianyang 021-63326662
Tranche Technology Clearing House Co. Ltd.Shanghai
Innovation Bond
Luxshare Precision Industry
B17 Financial Street
Co. Ltd. 2025 Seventh Beijing Financial Assets
Xicheng District None Guo Bing 010-57896722
Tranche Technology Exchange Co. Ltd.Beijing
Innovation Bond
Change in the aforesaid agency/agencies during the Reporting Period
□ Yes □No
4. Use of raised funds
Unit: RMB10000
Consistency
Operation of Remediation with the
Total Amount the special of rule- purpose plan
Bond project Planned use of Unused
amount of already account for violating uses of use or other
name raised funds amount
raised funds used raised funds (if of raised funds covenants
any) (if any) promised in
the prospectus
Luxshare
For repayment of
Precision Industry
the interest-
Co. Ltd. 2024 100000 bearing debts of 100000 0 Normal N/A Yes
Third Tranche
the issuer and its
Super & Short-
controlling
term Commercial
155Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Paper subsidiaries
Luxshare
Precision Industry
For repayment of
Co. Ltd. 2024
borrowings from
Fourth Tranche 100000 100000 0 Normal N/A Yes
financial
Super & Short-
institutions
term Commercial
Paper
Luxshare
Precision Industry
Co. Ltd. 2024 For repayment of
Fifth Tranche borrowings from
100000 100000 0 Normal N/A Yes
Super & Short- financial
term Commercial institutions
Paper (Sci-Tech
Innovation Note)
Luxshare
Precision Industry
Co. Ltd. 2024 For repayment of
Sixth Tranche borrowings from
100000 100000 0 Normal N/A Yes
Super & Short- financial
term Commercial institutions
Paper (Sci-Tech
Innovation Note)
Luxshare
Precision Industry
For repayment of
Co. Ltd. 2024
borrowings from
Seventh Tranche 100000 100000 0 Normal N/A Yes
financial
Super & Short-
institutions
term Commercial
Paper
Luxshare For repayment of
Precision Industry the issuer’s
Co. Ltd. 2025 existing debt and
150000 150000 0 Normal N/A Yes
First Tranche replenishment of
Medium-term the Company’s
Note working capital
Luxshare For repayment of
Precision Industry the issuer’s
Co. Ltd. 2025 existing debt and
150000 150000 0 Normal N/A Yes
Second Tranche replenishment of
Medium-term the Company’s
Note working capital
Luxshare For repayment of
Precision Industry the issuer’s
Co. Ltd. 2025 existing debt and
100000 100000 0 Normal N/A Yes
First Tranche replenishment of
Technology the Company’s
Innovation Bond working capital
Luxshare For repayment of
Precision Industry the issuer’s
Co. Ltd. 2025 120000 existing debt and 120000 0 Normal N/A Yes
Second Tranche replenishment of
Technology the Company’s
156Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Innovation Bond working capital
Luxshare For repayment of
Precision Industry the issuer’s
Co. Ltd. 2025 existing debt and
100000 100000 0 Normal N/A Yes
Third Tranche replenishment of
Technology the Company’s
Innovation Bond working capital
For repayment of
Luxshare
the issuer’s
Precision Industry
interest-bearing
Co. Ltd. 2025
100000 liabilities and 100000 0 Normal N/A Yes
Fourth Tranche
replenishment of
Technology
the Company’s
Innovation Bond
working capital
Luxshare
Used to repay the
Precision Industry
issuer’s interest-
Co. Ltd. 2025
80000 bearing liabilities 80000 0 Normal N/A Yes
Fifth Tranche
and replenish
Technology
working capital
Innovation Bond
For repayment of
Luxshare
the issuer’s
Precision Industry
interest-bearing
Co. Ltd. 2025
120000 liabilities and 120000 0 Normal N/A Yes
Sixth Tranche
replenishment of
Technology
the Company’s
Innovation Bond
working capital
For repayment of
Luxshare
the issuer’s
Precision Industry
interest-bearing
Co. Ltd. 2025
100000 liabilities and 100000 0 Normal N/A Yes
Seventh Tranche
replenishment of
Technology
the Company’s
Innovation Bond
working capital
Use of raised funds for construction projects
□ Applicable □Not applicable
The Company changed the purpose of the above raised funds from bonds during the Reporting Period
□ Applicable □Not applicable
5. Credit rating adjustments during the Reporting Period
□ Applicable □Not applicable
6. Implementation and changes of guarantees repayment plan and other repayment guarantee measures during the Reporting
Period and their impact on the equity ownership of bond investors
□ Applicable □Not applicable
IV. Convertible Corporate Bonds
□Applicable □ Not applicable
1. Issuance of convertible bonds
(1) Issuance of convertible corporate bonds
Approved by the China Securities Regulatory Commission in the Reply on Approving the Public Offering of Convertible Corporate
Bonds by Luxshare Precision Industry Co. Ltd. (ZH.J.X.K. [2020] No. 247) the Company publicly offered 30 million convertible
157Luxshare Precision Industry Co. Ltd. 2025 Annual Report
corporate bonds on November 3 2020 with a par value of RMB100 each and an aggregate issuance amount of RMB3 billion.
(2) Listing of convertible corporate bonds
With the approval of the Shenzhen Stock Exchange under Document SH.ZH.SH. [2020] No. 1170 the Company’s convertible
corporate bonds in the amount of RMB3 billion were listed and traded on the Shenzhen Stock Exchange from December 2 2020 with
the bond abbreviation “Luxshare Convertible Bond” and bond code “128136”.
(3) Adjustments to the conversion price of convertible corporate bonds
According to the relevant regulations and the provisions of the Prospectus the initial conversion price of Luxshare Convertible Bond
was RMB58.62/share.As at December 31 2025 the conversion price of the Company’s convertible bonds was RMB56.47/share. Due to changes in the total
share capital resulting from the exercise of equity incentives in the third quarter of 2025 and the conversion of the Company’s
convertible corporate bonds the conversion price of Luxshare Convertible Bond was adjusted to RMB56.14/share (effective from
October 10 2025). For the historical conversion information of the Company please refer to the announcements published by the
Company on CNINFO (http://www.cninfo.com.cn).
(4) Conversion period of convertible corporate bonds
The conversion period for the convertible corporate bonds in this offering commenced on the first trading day after the expiry of six
months from the conclusion date of the issuance of the convertible bonds (November 9 2020) namely May 10 2021 (as May 9 2021
was a non-trading day it was postponed to May 10 2021) and ended on the maturity date of the convertible bonds (November 2 2026)
(if such date falls on a statutory holiday or rest day it will be extended to the first business day thereafter; no additional interest will
accrue on the interest payment amount during the extension period).
2. Guarantors of convertible bonds and the top 10 holders during the Reporting Period
Name of convertible corporate bond Luxshare Convertible Bond
Number of holders at the end of the
9555
Reporting Period
Guarantor of the Company’s convertible
N/A
bonds
Significant changes in profitability assets
N/A
condition and credit status of guarantors
Top 10 convertible bond holders are as follows:
Number of Amount of Proportion of
convertible bonds convertible bonds convertible bonds
Nature of
No. Name of holder held at the end of held at the end of held at the end of
holder
the Reporting the Reporting the Reporting
Period Period Period
China Merchants Bank Co. Ltd. –
1 Bosera CSI Convertible Bonds and Others 2059121 205912100.00 6.87%
Exchangeable Bonds ETF
China Construction Bank Corporation
— Zhong Ou New Blue Chip Flexible
2 Others 1451370 145137000.00 4.84%
Allocation Hybrid Securities Investment
Fund
State-owned
3 Guosen Securities Co. Ltd. 958537 95853700.00 3.20%
legal entity
Industrial and Commercial Bank of
4 China Limited — China Universal Others 922917 92291700.00 3.08%
Technology Flexible Allocation Hybrid
158Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Securities Investment Fund
CITIC Securities Xinfu Anyuan Fixed-
5 income Pension Product — China Others 664890 66489000.00 2.22%
Merchants Bank Co. Ltd.State-owned
6 China Galaxy Securities Co. Ltd. 660937 66093700.00 2.20%
legal entity
China Foreign Economy and Trade
7 Trust Co. Ltd. — FOTIC — Yongxin Others 536975 53697500.00 1.79%
No. 8 Assembled Funds Trust Plan
The Hongkong and Shanghai Banking Foreign
851822151822100.001.73%
Corporation Limited legal entity
China Southern Asset Management
Ningkang Convertible Bond Fixed-
9 Others 441762 44176200.00 1.47%
income Pension Product — Bank of
China Limited
China Everbright Bank Co. Ltd. —
China Merchants Fund Management
10 Others 416255 41625500.00 1.39%
Co. Ltd. Anben Enhanced Return Bond
Securities Investment Fund
3. Changes in the convertible bonds during the Reporting Period
□Applicable □ Not applicable
Unit: RMB
Changes during the Reporting Period
Name of
convertible Before change After change
corporate bond Converted into Redeemed Resold
shares
Luxshare
2998986600.00568600.001100.002998416900.00
Convertible Bond
4. Accumulative conversion
□Applicable □ Not applicable
Percentage
of converted
Total shares to the Percentage of
Name of Accumulativ
number of Total Accumulativ Company’s Unconver unconverted
convertible e amount
Start date convertible issuance e shares total issued ted amount to the
corporate converted
corporate amount converted shares before amount total issuance
bond (RMB)
bonds issued the amount
conversion
start date
May 10
Luxshare
2021 to 300000000 2998416
Convertible 30000000 1583100.00 27408.00 0.09% 99.95%
November 0.00 900.00
Bond
22026
5. Previous adjustments and correction of conversion price
159Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Latest
Adjustment
Name of Adjusted conversion price
date of Disclosure Notes on adjustment to the conversion
convertible conversion as at the end of
conversion time price
corporate bond price(RMB) the Reporting
price
Period(RMB)
Increase in share capital due to
Luxshare December December
58.60 independent exercise by incentive 56.14
Convertible Bond 14 2020 14 2020
recipients under the equity incentive plan
Increase in share capital due to
Luxshare December December
58.48 independent exercise by incentive 56.14
Convertible Bond 30 2020 30 2020
recipients under the equity incentive plan
Increase in share capital due to
Luxshare January 13 January 13
58.44 independent exercise by incentive 56.14
Convertible Bond 2021 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare February 24 February 24
58.38 independent exercise by incentive 56.14
Convertible Bond 2021 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare March 11 March 11
58.36 independent exercise by incentive 56.14
Convertible Bond 2021 2021
recipients under the equity incentive plan
Luxshare June 30 Completion of the Company’s 2020
July 8 2021 58.25 56.14
Convertible Bond 2021 annual profit distribution
Increase in share capital due to
Luxshare July 22 July 22
58.20 independent exercise by incentive 56.14
Convertible Bond 2021 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare September September
58.18 independent exercise by incentive 56.14
Convertible Bond 6 2021 4 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare November November
58.16 independent exercise by incentive 56.14
Convertible Bond 10 2021 10 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare December December
58.05 independent exercise by incentive 56.14
Convertible Bond 29 2021 29 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare December December
58.01 independent exercise by incentive 56.14
Convertible Bond 31 2021 31 2021
recipients under the equity incentive plan
Increase in share capital due to
Luxshare January 13 January 13
57.98 independent exercise by incentive 56.14
Convertible Bond 2022 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare January 25 January 25
57.97 independent exercise by incentive 56.14
Convertible Bond 2022 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare March 8 57.93 March 8 56.14
independent exercise by incentive
160Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Convertible Bond 2022 2022 recipients under the equity incentive plan
Increase in share capital due to
Luxshare March 22 March 22
57.92 independent exercise by incentive 56.14
Convertible Bond 2022 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare May 25 May 25
57.91 independent exercise by incentive 56.14
Convertible Bond 2022 2022
recipients under the equity incentive plan
Luxshare July 13 Completion of the Company’s 2021
57.80 July 7 2022 56.14
Convertible Bond 2022 annual equity distribution
Increase in share capital due to
Luxshare July 27 July 27
57.75 independent exercise by incentive 56.14
Convertible Bond 2022 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare September September
57.73 independent exercise by incentive 56.14
Convertible Bond 7 2022 7 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare November November
57.71 independent exercise by incentive 56.14
Convertible Bond 22 2022 22 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare December December
57.63 independent exercise by incentive 56.14
Convertible Bond 20 2022 20 2022
recipients under the equity incentive plan
Increase in share capital due to
Luxshare January 4 January 4
57.60 independent exercise by incentive 56.14
Convertible Bond 2023 2023
recipients under the equity incentive plan
Increase in share capital due to
Luxshare March 24 March 24
57.50 independent exercise by incentive 56.14
Convertible Bond 2023 2023
recipients under the equity incentive plan
Luxshare June 15 Completion of the Company’s 2022
57.37 June 9 2023 56.14
Convertible Bond 2023 annual equity distribution
Increase in share capital due to
Luxshare July 26 July 26
57.31 independent exercise by incentive 56.14
Convertible Bond 2023 2023
recipients under the equity incentive plan
Increase in share capital due to
Luxshare January 3 January 3
57.19 independent exercise by incentive 56.14
Convertible Bond 2024 2024
recipients under the equity incentive plan
Increase in share capital due to
Luxshare April 3 April 3
57.08 independent exercise by incentive 56.14
Convertible Bond 2024 2024
recipients under the equity incentive plan
Increase in share capital due to
Luxshare
July 2 2024 56.98 July 2 2024 independent exercise by incentive 56.14
Convertible Bond
recipients under the equity incentive plan
Luxshare July 11 Completion of the Company’s 2023
56.68 July 5 2024 56.14
Convertible Bond 2024 annual equity distribution
161Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Increase in share capital due to
Luxshare October 9 October 9
56.56 independent exercise by incentive 56.14
Convertible Bond 2024 2024
recipients under the equity incentive plan
Increase in share capital due to
Luxshare January 3 January 3
56.52 independent exercise by incentive 56.14
Convertible Bond 2025 2025
recipients under the equity incentive plan
Increase in share capital due to
Luxshare April 2 April 2
56.47 independent exercise by incentive 56.14
Convertible Bond 2025 2025
recipients under the equity incentive plan
Increase in share capital due to
Luxshare
July 2 2025 56.45 July 2 2025 independent exercise by incentive 56.14
Convertible Bond
recipients under the equity incentive plan
Luxshare July 14 Completion of the Company’s 2024
July 8 2025 56.25 56.14
Convertible Bond 2025 annual profit distribution
Increase in share capital due to
Luxshare October 10 October 10
56.14 independent exercise by incentive 56.14
Convertible Bond 2025 2025
recipients under the equity incentive plan
6. Changes in liabilities and credit standing of the Company at the end of the Reporting Period and cash arrangements to repay
debts in future years
According to the 2025 Tracking Rating Report for the Public Offering of Convertible Corporate Bonds by Luxshare Precision Industry
Co. Ltd. (L.H. [2025] No. 3765) issued by China Lianhe Credit Rating Co. Ltd. on June 23 2025 the long-term issuer credit rating of
the Company was AA+ the credit rating of the Company’s convertible bonds was AA+ and the rating outlook is stable. There were
no material changes in the Company’s liabilities credit standing or other related conditions. For the major accounting data and financialindicators please refer to “VIII. Key Accounting Data and Financial Indicators of the Recent Two Years of the Company as at the Endof the Reporting Period” under Section VII in this Report.V. Losses in Scope of Consolidated Financial Statement during the Reporting Period Exceeding 10% of Net Assets as at the
End of Last Year
□ Applicable □Not applicable
VI. Information on Overdue Interest?bearing Debts Other Than Bonds as at the End of the Reporting Period
□ Applicable □Not applicable
VII. Violations of Rules and Regulations During the Reporting Period
□ Yes □No
VIII. Key Accounting Data and Financial Indicators of the Recent Two Years of the Company as at the End of the Reporting
Period
Unit: RMB10000
Increase/decrease at the end
Item End of the Reporting Period End of last year of the Reporting Period from
the end of last year
Current ratio 1.1107 1.2166 -8.70%
Asset-liability ratio 66.07% 62.16% 3.91%
Quick ratio 0.8708 0.9382 -7.18%
Current Reporting Period Same period last year Change during the Reporting
Period over the same period
162Luxshare Precision Industry Co. Ltd. 2025 Annual Report
last year
Net profit after deducting non-
1416885.61169430.5621.16%
recurring gains or losses
Debt/EBITDA ratio 32.80% 42.59% -9.79%
Interest cover (x) 12.08 12.01 0.58%
Cash-to-interest cover (x) 13.05 21.37 -38.93%
EBITDA interest cover (x) 19.85 19.64 1.07%
Rate of loan repayment 100.00% 100.00% 0.00%
Interest coverage 100.00% 100.00% 0.00%
163Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Section VIII Financial Report
I. Auditor’s Report
Audit opinion Unqualified Opinion
Signing date of Auditor’s Report April 14 2026
Name of the audit institution BDO China Shu Lun Pan Certified Public Accountants LLP
Number of the Auditor’s Report X.K.SH.B.Z. [2026] No. ZB10313
Name of the certified public accountants Zhang Huice and Zhang Yehua
Text of the Auditor’s Report
* Audit Opinions
We have audited the financial statements of Luxshare Precision Industry Co. Ltd. (hereinafter referred to as “Luxshare Precision”)
which comprise the consolidated and parent company balance sheets as at December 31 2025 the consolidated and parent company
income statements for 2025 the consolidated and parent company cash flow statements the consolidated and parent company
statements of changes in equity for the year then ended and the notes to the relevant financial statements.In our opinion the accompanying financial statements have been prepared in accordance with the Accounting Standards for Business
Enterprises in all material respects and fairly present the consolidated and parent company financial position of Luxshare Precision as
at December 31 2025 as well as the consolidated and parent company operating results and cash flows for the year 2025.* Basis for Opinion
We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants of China. Our responsibilitiesunder those standards are further described in the “Responsibilities of the Certified Public Accountants for the Audit of the FinancialStatements” section of our report. In accordance with the Independence Standard for Chinese Certified Public Accountants No. 1 -
Requirements for Independence in Audit and Review of Financial Statements and the Code of Professional Conduct for Chinese
Certified Public Accountants we are independent of Luxshare Precision and have fulfilled other responsibilities regarding professional
ethics. We followed the independence requirements for auditing public interest entities during the audit. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.* Key Audit Matters
Key audit matters are those matters that in our professional judgment were of the most significance in our audit of the financial
statements of the current period. These matters are addressed in the context of our audit of the financial statements as a whole and in
forming our opinion thereon and we do not provide a separate opinion on these matters.Key audit matters identified in our audit are summarized as follows:
Key Audit Matters Audit response
i. Revenue recognition
For details and analysis of the accounting policies for revenue For the recognition of revenue from product sales the audit
recognition please refer to the accounting policies stated in Note procedures we performed mainly included:
(26) of “III. Significant Accounting Policies and AccountingEstimates” and Note (52) under “V. Notes to Consolidated 1. Understand evaluate and test the design of the key internalFinancial Statement Items”. controls related to revenue recognition and the operational
effectiveness of those controls;
In 2025 Luxshare Precision’s operating revenue in the
consolidated financial statements amounted to 2. Understand the Company’s methods of cooperation with
RMB332344.4431 million. Luxshare Precision has a large customers and suppliers and evaluate the assumption of
number of customers at home and abroad. Under different product responsibility and the transfer of control;
delivery methods the Company recognizes revenue upon the
transfer of control of a related product to a customer. Where a
customer is also a supplier of certain raw materials the Company
164Luxshare Precision Industry Co. Ltd. 2025 Annual Report
recognizes purchases of raw materials and sales of products 3. Select samples of product sales revenue from different
based on the transfer of inventory risks and rewards product regions and different customers for testing: and inspect the
liability credit risk bearers and business nature that is the sales supporting documents related to revenue recognition;
revenue is recognized based on the gross amount. As revenue is
one of the Company’s key performance indicators and given the 4. Perform analytical procedures on revenue and gross profit to
significance of the accounting policy for revenue recognition and determine whether there were any abnormal fluctuations in the
the amount involved we identified the recognition of revenue amount of revenue for the current period;
from product sales as a key audit matter.
5. In conjunction with confirmations of balances due to and
from related parties sales revenue and inventories evaluate the
accuracy and completeness of revenue;
6. For sales transactions recorded before and after the balance
sheet date select samples obtain supporting documents for
revenue recognition and analyze post-period collections to
determine whether the relevant sales transactions are recorded
in the appropriate accounting period.ii. Provision for inventory write-down reservesPlease refer to accounting policies stated in Note (11) under “III. The audit procedures we performed in relation to the provisionSignificant Accounting Policies and Accounting Estimates” and for inventory write-down reserves mainly included:Note (9) under “V. Notes to Consolidated Financial StatementItems” for the accounting policies described therein. 1. Understand evaluate and test the design of key internal
controls related to the provision for inventory write-down
As at December 31 2025 inventory in the consolidated financial reserves and the operational effectiveness of those controls;
statements of Luxshare Precision amounted to RMB44248.0253
million and the reserves for inventory write-down amounted to 2. Obtain the Company’s inventory write-down reserves
RMB1915.2429 million. The Company’s inventories are calculation sheet review the net realizable value of inventory
measured at the lower of cost or net realizable value. For finished and the amount of inventory impairment provisions recognized
goods net realizable value is determined based on the estimated and evaluate whether the judgments made by management in
selling price of such inventory less estimated selling expenses determining the net realizable value of inventory are
and relevant taxes and fees; for material inventories that require reasonable;
processing in the normal production and operation process net
3. In conjunction with inventory verification procedures
realizable value is determined based on the estimated selling
inspect the quantity and condition of inventory conduct
price of the finished goods to be produced less the estimated costs
focused inspections of inventory with long storage ages and
to completion estimated selling expenses and relevant taxes and
analyze the adequacy of the provision for inventory write-down
fees. The determination of the net realizable value of inventory
reserves with indications of impairment;
involves management’s use of significant accounting estimates
and judgments and the provision for inventory write-down 4. Check the changes in the provision for inventory write-down
reserves is material to the consolidated financial statements. reserves recognized in previous years during the current period
Therefore we identified the provision for inventory write-down and analyze the reasonableness of the changes in the provision
reserves as a key audit matter. for inventory write-down reserves.* Other information
Luxshare Precision’s management (hereinafter referred to as the “management”) is responsible for the other information. The other
information comprises the information included in Luxshare Precision’s 2025 Annual Report but does not include the financial
statements and our Auditor’s Report.Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion
thereon.In connection with our audit of the financial statements our responsibility is to read the other information and in doing so consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or
otherwise appears to be materially misstated.If based on the work we have performed we conclude that there is a material misstatement of the other information we are required
to report that fact. We have nothing to report in this regard.* Responsibilities of the Management and Those Charged with Governance for the Financial Statements
The Management is responsible for the preparation and fair presentation of these financial statements in accordance with the
Accounting Standards for Business Enterprises and for designing implementing and maintaining such internal control as the
165Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Management determines is necessary to enable the preparation of financial statements that are free from material misstatement whether
due to fraud or error.In preparing the financial statements the management is responsible for assessing Luxshare Precision’s ability to continue as a going
concern disclosing matters related to going concern (if applicable) and applying the going concern assumption unless the management
either intends to liquidate the Company or to cease operations or has no realistic alternative but to do so.Those charged with governance are responsible for overseeing Luxshare Precision’s financial reporting process.* Responsibilities of the Certified Public Accountants for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether these financial statements as a whole are free from material
misstatement whether due to fraud or error and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high
level of assurance but is not a guarantee that an audit conducted in accordance with CSAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if individually or in the aggregate they could
reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with the Auditing Standards we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
i. Identify and assess the risks of material misstatement of the financial statements whether due to fraud or error design and perform
audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve
collusion forgery intentional omissions misrepresentations or the override of internal control.ii. Obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the
circumstances.iii. Evaluate the appropriateness of the accounting policies used and the reasonableness of accounting estimates and related disclosures
made by the management.iv. Conclude on the appropriateness of the management’s use of the going concern basis of accounting. At the same time based on the
audit evidence obtained a conclusion is reached on whether there is a material uncertainty regarding events or conditions that may cast
significant doubt on Luxshare’s ability to continue as a going concern. If we conclude that a material uncertainty exists we are required
to draw attention in our Auditor’s Report to the related disclosures in these financial statements or if such disclosures are inadequate
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the Auditor’s Report. However
future events or conditions may cause Luxshare Precision to cease to continue as a going concern.v. Evaluate the overall presentation (including disclosures) structure and content of the financial statements and whether the financial
statements represent the underlying transactions and events in a manner that achieves fair presentation.vi. Obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business activities within
Luxshare Precision to express an audit opinion on the consolidated financial statements. We are responsible for the direction
supervision and performance of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding among other matters the planned scope and timing of the audit and
significant audit findings including any significant deficiencies in internal control that we identify during our audit.We have also provided those charged with governance with a statement on observing the professional ethics related to independence
and communicated with those charged with governance on all the relationships and other matters that might be reasonably deemed to
affect our independence and relevant preventative measures (if applicable).From the matters communicated with those charged with governance we determine those matters that were of most significance in the
audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our Auditor’s
Report unless law or regulation precludes public disclosure about the matter or when in extremely rare circumstances we determine
that a matter should not be communicated in our audit report because the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.II. Financial Statements
Currency unit for the financial statements and the notes thereto: RMB
1. Consolidated balance sheet
Prepared by: Luxshare Precision Industry Co. Ltd.December 31 2025
Unit: RMB
166Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Item Closing balance Opening balance
Current assets:
Cash and cash equivalents 61159176580.35 48359655992.93
Settlement reserve 0.00 0.00
Placements with banks and other financial institutions 0.00 0.00
Financial assets held for trading 2842065117.62 1403110810.03
Derivative financial assets 102963566.17 0.00
Notes receivable 521886908.06 349773515.66
Accounts receivable 48438796114.12 32561098916.58
Receivables financing 1263239984.56 1106284192.29
Prepayments 1440690783.69 389200419.67
Premiums receivable 0.00 0.00
Amounts receivable under reinsurance contracts 0.00 0.00
Reserves for reinsurance contract receivable 0.00 0.00
Other receivables 1909308880.73 916828350.56
Including: Interest receivable
Dividends receivable 148345542.83
Financial assets purchased under resale agreements 0.00 0.00
Inventories 42332782449.47 31702675549.03
Including: Data resources 0.00 0.00
Contract assets 1138331189.32 0.00
Assets held for sale 0.00 0.00
Non-current assets due within 1 year 9638642106.65 4199154224.92
Other current assets 25229093285.58 17557463274.05
Total current assets 196016976966.32 138545245245.72
Non-current assets:
167Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Loans and advances to customers 0.00 0.00
Debt investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 12009696666.85 7488295934.01
Investments in other equity instruments 219461635.20 112765072.04
Other non-current financial assets 37637104.39 39311504.56
Investment properties 98487570.14 35664816.93
Fixed assets 65901073710.76 48231236929.70
Construction in progress 4290260998.33 5379186127.71
Bearer biological assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 2761973867.39 858486974.92
Intangible assets 3820742996.47 2791469756.34
Including: Data resources 0.00 0.00
Development expenditure 118778094.44 0.00
Including: Data resources 0.00 0.00
Goodwill 2239173155.52 1885826820.02
Long-term deferred and prepaid expenses 1015219090.59 770001330.59
Deferred income tax assets 2533431115.92 817693476.29
Other non-current assets 15474762814.10 16872400444.43
Total non-current assets 110520698820.10 85282339187.54
Total assets 306537675786.42 223827584433.26
Current liabilities:
Short-term borrowings 60137739468.49 35313128924.26
Borrowings from the central bank 0.00 0.00
168Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Loans from other banks and financial institutions 0.00 0.00
Financial liabilities held for trading 424219343.62 155278918.84
Derivative financial liabilities 38121564.96 0.00
Notes payable 3102096141.20 878335711.94
Accounts payable 80910608802.62 65087993138.64
Receipts in advance 0.00 0.00
Contract liabilities 931291965.17 262507706.68
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and deposits from other banks and
0.000.00
financial institutions
Funds from securities trading agency 0.00 0.00
Funds from underwriting securities agency 0.00 0.00
Employee benefits payable 4951859420.41 3011324225.36
Taxes payable 2819622235.52 1238288633.06
Other payables 2320728981.71 502369570.62
Including: Interest payable
Dividends payable 1173208755.74 52175292.26
Fees and commissions payable 0.00 0.00
Amounts payable under reinsurance contracts 0.00 0.00
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one year 13700930087.24 2256471507.26
Other current liabilities 7150917176.07 5168824236.48
Total current liabilities 176488135187.01 113874522573.14
Non-current liabilities:
Insurance contract reserves 0.00 0.00
Long-term borrowings 16441982591.33 19619741634.77
Bonds payable 3491837425.22 3305436590.71
169Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 2352692973.58 727982667.37
Long-term payables 2999320.76 0.00
Long-term employee benefits payable 796046633.61 0.00
Estimated liabilities 607657462.11 7088481.43
Deferred income 1138420510.47 649108632.44
Deferred tax liabilities 1144144006.84 955820917.13
Other non-current liabilities 53526895.87 756521.26
Total non-current liabilities 26029307819.79 25265935445.11
Total liabilities 202517443006.80 139140458018.25
Owners’ equity:
Share capital 7284442534.00 7236462142.00
Other equity instruments 527170634.84 527271028.72
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 9944782586.60 7546227379.20
Less: Treasury shares 0.00 0.00
Other comprehensive income -1592945544.41 -703805634.26
Special reserve 11780213.61 2196525.51
Surplus reserve 2125232697.57 1617520044.25
General risk reserve 0.00 0.00
Retained earnings 66620640298.66 53101139440.57
Total equity attributable to owners of the parent company 84921103420.87 69327010925.99
Minority interests 19099129358.75 15360115489.02
Total owners’ equity 104020232779.62 84687126415.01
170Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Total liabilities and owners’ equity 306537675786.42 223827584433.26
Legal representative: Wang Laichun Chief accounting officer: Wu Tiansong Head of Accounting Department: Chen Huiyong
2. Balance sheet of the parent company
Unit: RMB
Item Closing balance Opening balance
Current assets:
Cash and cash equivalents 3534194570.19 5038281861.44
Financial assets held for trading 746119656.92 219657223.74
Derivative financial assets 0.00 0.00
Notes receivable 830939524.63 100400435.19
Accounts receivable 5620343695.37 4166040612.48
Receivables financing 22285217.67 10672541.60
Prepayments 11418310.46 5617570.43
Other receivables 929631196.10 606750541.46
Including: Interest receivable
Dividends receivable 922000000.00 600000000.00
Inventories 471458648.69 379489201.25
Including: Data resources 0.00 0.00
Contract assets 0.00 0.00
Assets held for sale 0.00 0.00
Non-current assets due within 1 year 3373711210.78 0.00
Other current assets 31887832312.67 30959564120.80
Total current assets 47427934343.48 41486474108.39
Non-current assets:
Debt investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 0.00 0.00
171Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Long-term equity investments 30080415934.19 25026704626.12
Investments in other equity instruments 173804852.30 108337130.41
Other non-current financial assets 570000000.00 570000000.00
Investment properties 0.00 0.00
Fixed assets 177808488.92 131283968.73
Construction in progress 61955888.54 8785414.12
Bearer biological assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 21937365.59 37622664.83
Intangible assets 316837576.47 318396591.73
Including: Data resources 0.00 0.00
Development expenditure 0.00 0.00
Including: Data resources 0.00 0.00
Goodwill 53174339.31 53174339.31
Long-term deferred and prepaid expenses 9875511.61 5712784.40
Deferred income tax assets 7325475.03 10398884.68
Other non-current assets 15075201413.03 6334563156.20
Total non-current assets 46548336844.99 32604979560.53
Total assets 93976271188.47 74091453668.92
Current liabilities:
Short-term borrowings 5714148139.62 2286859307.53
Financial liabilities held for trading 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 16018561258.35 10175621761.24
Accounts payable 2305744357.73 1610259742.70
Receipts in advance 0.00 0.00
172Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Contract liabilities 7709497.29 14095687.49
Employee benefits payable 91670833.92 74830682.22
Taxes payable 94107844.38 60995667.09
Other payables 5772103720.91 7920582369.71
Including: Interest payable
Dividends payable 1165133463.48
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one year 11989413876.21 1363153534.40
Other current liabilities 6028639881.56 5046304840.42
Total current liabilities 48022099409.97 28552703592.80
Non-current liabilities:
Long-term borrowings 13159316666.99 17377321891.70
Bonds payable 3055651981.52 2878039451.43
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 10267237.68 19970300.26
Long-term payables 0.00 0.00
Long-term employee benefits payable 0.00 0.00
Estimated liabilities 0.00 0.00
Deferred income 518854.42 2026179.60
Deferred tax liabilities 0.00 0.00
Other non-current liabilities 0.00 0.00
Total non-current liabilities 16225754740.61 20277357822.99
Total liabilities 64247854150.58 48830061415.79
Owners’ equity:
Share capital 7284442534.00 7236462142.00
173Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Other equity instruments 527170634.84 527271028.72
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 9316568261.02 7445999659.85
Less: Treasury shares 0.00 0.00
Other comprehensive income 48352006.35 4346079.89
Special reserve 0.00 0.00
Surplus reserve 2125232697.57 1617520044.25
Retained earnings 10426650904.11 8429793298.42
Total owners’ equity 29728417037.89 25261392253.13
Total liabilities and owners’ equity 93976271188.47 74091453668.92
3. Consolidated income statement
Unit: RMB
Item 2025 2024
I. Total Operating Revenue 332344443143.39 268794737612.58
Including: Operating revenue 332344443143.39 268794737612.58
Interest income 0.00 0.00
Premiums earned 0.00 0.00
Fee and commission income 0.00 0.00
II. Total Operating Costs 318680964911.80 256910909368.85
Including: Operating cost 292755910976.71 240809417980.59
Interest expenditure 0.00 0.00
Fee and commission expenses 0.00 0.00
Surrenders 0.00 0.00
Net insurance claims paid 0.00 0.00
Net amount provided as insurance contract
0.000.00
reserve
174Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and surcharges 879585024.91 636749261.74
Selling expenses 2333996973.49 1059676776.41
Administrative expenses 10195494233.32 6352284566.88
R&D expenses 11428041090.59 8555957431.46
Financial expenses 1087936612.78 -503176648.23
Including: Interest expenses 1765110828.82 1462653485.39
Interest income 997715551.57 968280395.31
Plus: Other income 912283136.42 993203577.89
Investment income (Loss is indicated by “-”) 6763977320.93 4546940655.44
Including: Income from investments in
4265410324.713318152092.00
associates and joint ventures
Income from derecognition of financial
-593025537.00-795197080.77
assets measured at amortized cost
Foreign exchange gains (Loss is indicated by “-”) 0.00 0.00
Net exposure hedging income (Loss is indicated by
0.000.00
“-”)
Gains from changes in fair value (Loss is indicated
-618594078.70-63167333.15
by “-”)
Impairment losses of credit (Loss is indicated by
-64875880.48-10087989.60
“-”)
Impairment losses of assets (Loss is indicated by
-1544769697.36-1245468307.53
“-”)
Gains on disposal of assets (Loss is indicated by
44604290.0636626066.06
“-”)
III. Operating Profit (Loss Is Indicated by “-”) 19156103322.46 16141874912.84
Plus: Non-operating revenue 575661994.74 53603053.92
Less: Non-operating expenses 181906994.81 86739225.98
IV. Total Profit (Loss Is Indicated by “-”) 19549858322.39 16108738740.78
175Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Less: Income tax expenses 1379621493.72 1529694922.93
V. Net Profit (Net Loss Is Indicated by “-”) 18170236828.67 14579043817.85
i. Categorized by the nature of continuing operation
1. Net profit from going-concern (net loss is indicated
18170236828.6714579043817.85
by “-”)
2. Net profits from discontinued operations (net loss is
0.000.00
indicated by “-”)
ii. Categorized by ownership
1. Net profit attributable to shareholders of the parent
16599769785.6413365651026.16
company
2. Profit or loss of minority shareholders 1570467043.03 1213392791.69
VI. Other Comprehensive Income Net of Tax -784592473.56 -756889357.91
Other comprehensive income attributable to owners of
-846194739.21-814249035.79
the parent company net of tax
i. Other comprehensive income that cannot be
89766340.36-71080798.95
subsequently reclassified to profit or loss
1. Changes from re-measurement of defined benefit
0.000.00
plans
2. Other comprehensive income that cannot be
0.000.00
reclassified to profit or loss under the equity method
3. Changes in fair value of other investments in
89766340.36-71080798.95
equity instruments
4. Changes in fair value of enterprises’ own credit
0.000.00
risk
5. Others
ii. Other comprehensive income that will be
-935961079.57-743168236.84
reclassified to profit or loss
1. Other comprehensive income that will be
-4679406.210.00
reclassified to profit or loss under the equity method
2. Changes in fair value of other debt investments 0.00 0.00
3. Amounts of financial assets reclassified into other
0.000.00
comprehensive income
4. Provision for credit impairment of other debt
0.000.00
investments
176Luxshare Precision Industry Co. Ltd. 2025 Annual Report
5. Reserve for cash flow hedges 55378642.36 0.00
6. Translation differences of financial statements
-986660315.72-743168236.84
denominated in foreign currencies
7. Others 0.00 0.00
Other comprehensive income attributable to minority
61602265.6557359677.88
interests net of tax
VII. Total Comprehensive Income 17385644355.11 13822154459.94
Total comprehensive income attributable to owners of
15753575046.4312551401990.37
the parent company
Total comprehensive income attributable to minority
1632069308.681270752469.57
shareholders
VIII. Earnings Per Share
i. Basic earnings per share 2.29 1.86
ii. Diluted earnings per share 2.26 1.85
Where business combinations under the common control occurred in the current period the net profit achieved by the acquirees before
the combinations is RMB0.00 with the amount for the same period of last year being RMB0.00.Legal representative: Wang Laichun Chief accounting officer: Wu Tiansong Head of Accounting Department: Chen Huiyong
4. Income statement of the parent company
Unit: RMB
Item 2025 2024
I. Operating Revenue 15762705057.88 11613850254.44
Less: Operating cost 14855050185.85 10915461165.83
Taxes and surcharges 18947476.90 16696075.89
Selling expenses 42453447.61 33619946.84
Administrative expenses 155442558.67 111697367.81
R&D expenses 576868372.98 394442224.92
Financial expenses 551269189.15 452015977.55
Including: Interest expenses 947578664.41 720713168.37
Interest income 406365763.09 261960850.84
Plus: Other income 6345737.95 45515232.64
177Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Investment income (Loss is indicated by “-”) 5517583238.74 2074033389.55
Including: Income from investments in associates
-8156802.61-10214447.00
and joint ventures
Income from the derecognition of
-2315301.40-32618718.19
financial assets at amortized cost (Loss is indicated by “-”)
Net exposure hedging income (Loss is indicated by
0.000.00
“-”)
Gains from changes in fair value (Loss is indicated
-5229740.77-64759504.50
by “-”)
Impairment losses of credit (Loss is indicated by
1045204.14-1086680.04
“-”)
Impairment losses of assets (Loss is indicated by
-10220402.87-7795032.20
“-”)
Gains on disposal of assets (Loss is indicated by
887537.5729642.37
“-”)
II. Operating Profit (Loss Is Indicated by “-”) 5073085401.48 1735854543.42
Plus: Non-operating revenue 814893.06 922466.47
Less: Non-operating expenses 1463788.86 5861240.70
III. Total Profit (Loss Is Indicated by “-”) 5072436505.68 1730915769.19
Less: Income tax expenses -4690027.56 -9082818.62
IV. Net Profit (Net Loss Is Indicated by “-”) 5077126533.24 1739998587.81
i. Net profit from going-concern (net loss is indicated by
5077126533.241739998587.81
“-”)
ii. Net profits from discontinued operations (net loss is
0.000.00
indicated by “-”)
V. Other Comprehensive Income Net of Tax 86951097.40 -71031669.16
i. Other comprehensive income that cannot be
86951097.40-71031669.16
subsequently reclassified to profit or loss
1. Changes from re-measurement of defined benefit
0.000.00
plans
2. Other comprehensive income that cannot be
0.000.00
reclassified to profit or loss under the equity method
3. Changes in fair value of other investments in
86951097.40-71031669.16
equity instruments
178Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4. Changes in fair value of enterprises’ own credit
0.000.00
risk
5. Others
ii. Other comprehensive income that will be
0.000.00
reclassified to profit or loss
1. Other comprehensive income that will be
0.000.00
reclassified to profit or loss under the equity method
2. Changes in fair value of other debt investments 0.00 0.00
3. Amounts of financial assets reclassified into other
0.000.00
comprehensive income
4. Provision for credit impairment of other debt
0.000.00
investments
5. Reserve for cash flow hedges 0.00 0.00
6. Translation differences of financial statements
0.000.00
denominated in foreign currencies
7. Others 0.00 0.00
VI. Total Comprehensive Income 5164077630.64 1668966918.65
VII. Earnings Per Share
i. Basic earnings per share
ii. Diluted earnings per share
5. Consolidated cash flow statement
Unit: RMB
Item 2025 2024
I. Cash Flows from Operating Activities:
Cash receipts from the sales of goods and the rendering
322548778339.20260945840146.58
of services
Net increase in customer deposits and deposits from
0.000.00
other banks and financial institutions
Net increase in borrowings from the central bank 0.00 0.00
Net increase in taking from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
179Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Net cash received from reinsurance 0.00 0.00
Net increase in deposits and investments of policy
0.000.00
holders
Cash receipts from interest fees and commissions 0.00 0.00
Net increase in taking from banks and other financial
0.000.00
institutions
Net increase in proceeds from repurchase transactions 0.00 0.00
Net cash received from securities trading agency 0.00 0.00
Tax rebates 8433426667.98 7372655841.77
Cash generated from other operating activities 5166234566.74 5689425932.94
Subtotal of cash inflows from operating activities 336148439573.92 274007921921.29
Payments for commodities and services 274938437502.09 215915880651.43
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and other
0.000.00
banks and financial institutions
Payments for claims on original insurance contracts 0.00 0.00
Net increase in loans to other banks and financial
0.000.00
institutions
Interest fees and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 34006959940.73 23188596123.73
Taxes paid 3948487582.45 2679443357.07
Cash used in other operating activities 5929225014.68 5107093580.53
Subtotal of cash outflows from operating activities 318823110039.95 246891013712.76
Net cash flows from operating activities 17325329533.97 27116908208.53
II. Cash Flows from Investing Activities:
Proceeds from disinvestment 82693913492.80 59421492564.65
Return on investment 2701286746.44 1560585128.71
Net cash from the disposal of fixed assets intangible 254087118.74 259098302.75
180Luxshare Precision Industry Co. Ltd. 2025 Annual Report
assets and other long-term assets
Net cash from the disposal of subsidiaries and other
0.000.00
business units
Cash generated from other investing activities 5135589459.91 15981629.58
Subtotal of cash inflows from investing activities 90784876817.89 61257157625.69
Payments for the acquisition of fixed assets intangible
17904337668.1712110699704.87
assets and other long-term assets
Payments for investments 93668910321.34 82979924160.82
Net increase in pledge loans granted 0.00 0.00
Net cash from acquisition of subsidiaries and other
3107778793.731729156509.11
business units
Cash used in other investing activities 310446593.20 93449200.00
Subtotal of cash outflows from investing activities 114991473376.44 96913229574.80
Net cash flows from investing activities -24206596558.55 -35656071949.11
III. Cash Flows from Financing Activities:
Cash received from capital contributions 3656111367.13 2406563693.54
Including: Cash received by subsidiaries from capital
2287677763.99599177529.88
contributions of minority shareholders
Cash received from borrowings 122351780069.38 91708915330.66
Cash generated from other financing activities 10200000000.00 6758358667.41
Subtotal of cash inflows from financing activities 136207891436.51 100873837691.61
Repayment of borrowings 103581261166.14 68783902600.75
Cash paid for distribution of dividend profit or payment
3464040516.483717457760.53
of interest
Including: Dividend and profit paid by subsidiaries to
186943481.7149589480.71
minority shareholders
Cash used in other financing activities 9872945958.60 2482035263.87
Subtotal of cash outflows from financing activities 116918247641.22 74983395625.15
Net cash flows from financing activities 19289643795.29 25890442066.46
IV. Effect of Foreign Exchange Rate Changes on Cash and
-334866826.26231672359.85
Cash Equivalents
181Luxshare Precision Industry Co. Ltd. 2025 Annual Report
V. Net Increase in Cash and Cash Equivalents 12073509944.45 17582950685.73
Plus: Cash and cash equivalents beginning of the period 47267103006.38 29684152320.65
VI. Cash and Cash Equivalents End of the Period 59340612950.83 47267103006.38
6. Cash flow statement of the parent company
Unit: RMB
Item 2025 2024
I. Cash Flows from Operating Activities:
Cash receipts from the sales of goods and the rendering
16056258270.7613960787538.02
of services
Tax rebates 55929378.55 105618571.66
Cash generated from other operating activities 102307279786.06 100274296230.66
Subtotal of cash inflows from operating activities 118419467435.37 114340702340.34
Payments for commodities and services 21731332902.78 14739237402.97
Cash paid to and for employees 529710025.97 380793920.10
Taxes paid 35284378.77 27465227.26
Cash used in other operating activities 93229013488.16 90765070519.94
Subtotal of cash outflows from operating activities 115525340795.68 105912567070.27
Net cash flows from operating activities 2894126639.69 8428135270.07
II. Cash Flows from Investing Activities:
Proceeds from disinvestment 13610587689.02 1029020423.92
Return on investment 5342247892.09 2141663919.77
Net cash from the disposal of fixed assets intangible
71855.92446206.75
assets and other long-term assets
Net cash from the disposal of subsidiaries and other
0.000.00
business units
Cash generated from other investing activities 47995322132.66 24529145489.00
Subtotal of cash inflows from investing activities 66948229569.69 27700276039.44
Payments for the acquisition of fixed assets intangible
185454623.37243888929.06
assets and other long-term assets
182Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Payments for investments 17852880889.23 9731679200.44
Net cash from acquisition of subsidiaries and other
0.000.00
business units
Cash used in other investing activities 63507889880.10 37663015910.00
Subtotal of cash outflows from investing activities 81546225392.70 47638584039.50
Net cash flows from investing activities -14597995823.01 -19938308000.06
III. Cash Flows from Financing Activities:
Cash received from capital contributions 1368433603.14 1807386163.66
Cash received from borrowings 16354159774.96 14059049529.26
Cash generated from other financing activities 18202982665.79 14484816421.49
Subtotal of cash inflows from financing activities 35925576043.89 30351252114.41
Repayment of borrowings 10211661188.96 6685639601.04
Cash paid for distribution of dividend profit or payment
2264381289.122781084626.44
of interest
Cash used in other financing activities 13248897164.63 8493152733.44
Subtotal of cash outflows from financing activities 25724939642.71 17959876960.92
Net cash flows from financing activities 10200636401.18 12391375153.49
IV. Effect of Foreign Exchange Rate Changes on Cash and
-36464509.11-6299268.96
Cash Equivalents
V. Net Increase in Cash and Cash Equivalents -1539697291.25 874903154.54
Plus: Cash and cash equivalents beginning of the period 5038281861.44 4163378706.90
VI. Cash and Cash Equivalents End of the Period 3498584570.19 5038281861.44
7. Consolidated statement of changes in owners’ equity
Amount in the Reporting Period
Unit: RMB
2025
Equity attributable to owners of the parent company
Item
Total
Minority
Other equity instruments owners’
Less: Other General interests
Share Capital Special Surplus Retained equity
Treasury comprehensive risk Others Subtotal
capital reserves reserve reserve earnings
shares income reserve
Others
Preferred Perpetual
183Luxshare Precision Industry Co. Ltd. 2025 Annual Report
shares bonds
I. Balances
72364-16175846871
as at the End 527271 7546227 21965 5310113 693270109 153601154
62142.703805634.220044.26415.0
of the Prior 028.72 379.20 25.51 9440.57 25.99 89.02
006251
Year
Plus:
Changes in
accounting
policies
Co
rrections of
accounting
errors in
previous
period
Ot
hers
II. Balances
72364-16175846871
as at the 527271 7546227 21965 5310113 693270109 153601154
62142.703805634.220044.26415.0
Beginning of 028.72 379.20 25.51 9440.57 25.99 89.02
006251
the Year
III. Changes
for the
Current - - 193331
479802398555958365077121351950155940924373901386
Period 100393. 889139910.1 06364.6
392.00207.4088.10653.320858.0994.889.73
(Decrease Is 88 5 1
Indicated by
“-”)
i. Total - 173856
1659976157535750163206930
comprehensi 846194739.2 44355.1
9785.6446.438.68
ve income 1 1
ii. Capital
-
increased 47980 2398555 244643520 224189143 468832
100393.
and reduced 392.00 207.40 5.52 1.47 6636.99
88
by owners
1. Ordinary
shares 47970 1320463 136843360 228767776 365611
contributed 319.00 284.14 3.14 3.99 1367.13
by owners
2. Capital
contribution
-
from holders 10073. 556728.6 466407.
100393.466407.80
of other 00 8 80
88
equity
instruments
3. Share-
based
payment 4969830 496983071. 52565516.4 549548
recognized 71.86 86 9 588.35
in owner’s
equity
-
5805521580552122.482200
4. Other 98351849.0
22.7272273.71
1
iii. Profit 507712
----
distribution 653.32
3123214261550144142843481.275834
184Luxshare Precision Industry Co. Ltd. 2025 Annual Report
098.495.17714926.88
1.
-
Appropriatio 507712
5077126
n to surplus 653.32
53.32
reserves
2.
Appropriatio
n to general
risk reserve
3.
Distributions
----
to owners
2614609261460992142843481.275745
(or
929.149.14713410.85
shareholders
)
--
4. Other 891516.0 -891516.03 891516.
303
iv. Transfers
within 4294517
-42945170.94
owners’ 0.94
equity
1.
Capitalizatio
n of capital
reserve (or
share
capital)
2.
Capitalizatio
n of surplus
reserve (or
share
capital)
3. Loss
offset by
surplus
reserve
4. Retained
earnings
carried
forward
from
changes in
defined
benefit plans
5. Retained
earnings
carried
forward
from other
comprehensi
ve income
4294517
6. Other -42945170.94
0.94
v. Special 95836 174802
9583688.107896611.29
reserve 88.10 99.39
185Luxshare Precision Industry Co. Ltd. 2025 Annual Report
1.
Appropriatio 41371 41371129.9 39363960.9 807350
n of current 129.96 6 5 90.91
period
2. Used in
3178731787441.831467349.6632547
the current
441.866691.52
period
vi. Others
IV. Balances
as at the End 72844 - 21252 104020
5271709944782117806662064849211034190991293
of the 42534. 1592945544. 32697. 232779.
634.84586.60213.610298.6620.8758.75
Current 00 41 57 62
Period
Amount in the prior period
Unit: RMB
2024
Equity attributable to owners of the parent company
Item
Total
Other equity instruments Minority
owners’
Less: Other General interests
Share Capital Special Surplus Retained equity
Treasury comprehensive risk Others Subtotal
capital reserves reserve reserve earnings
Preferred Perpetual shares income reserve
Others
shares bonds
I. Balances as at the 71481 420269 563101 139746 702848
527289501194352836144352
End of the Prior 68213. 148762176.88 71911.2 84510.6 80315.6 64826.2
020.284633.929.800185.47
Year 00 5 0 2 2
Plus: Changes
in accounting
policies
Correctio
ns of accounting
errors in previous
period
Others
II. Balances as at 71481 420269 563101 139746 702848
527289501194352836144352
the Beginning of 68213. 148762176.88 71911.2 84510.6 80315.6 64826.2
020.284633.929.800185.47
the Year 00 5 0 2 2
III. Changes for the
--110741130168144022
Current Period 88293 253428 173999 138543
17991.-852567811.1413318467529.326415.361588.7
(Decrease Is 929.00 2745.28 858.78 5173.40
564.29299
Indicated by "-")
i. Total 133656 125514 138221
127075
comprehensive -814249035.79 51026.1 01990.3 54459.9
2469.57
income 6 7 4
ii. Capital increased -
88293253428262255163291278585
and reduced by 17991.
929.002745.288682.72707.510390.23
owners 56
88292171909180738599177240656
1. Ordinary shares
139.004024.666163.66529.883693.54
contributed by
186Luxshare Precision Industry Co. Ltd. 2025 Annual Report
owners
2. Capital
-
contribution from 1790.0 99989.5 83788.0 201196 202033
17991.
holders of other 0 7 1 04.87 92.88
56
equity instruments
3. Share-based
391351391351310209422372
payment recognized
564.85564.8553.74518.59
in owner’s equity
--
423737423737
4. Other 487026 632892
166.20166.20
380.9814.78
----
iii. Profit 173999
232980215580495894220539
distribution 858.78
2272.192413.4180.711894.12
-
1. Appropriation to 173999
173999
surplus reserves 858.78
858.78
2. Appropriation to
general risk reserve
3. Distributions to - - - -
owners (or 215340 215340 495894 220299
shareholders) 1833.67 1833.67 80.71 1314.38
---
4. Other 240057 240057 240057
9.749.749.74
iv. Transfers within 383187
-38318775.35
owners’ equity 75.35
1. Capitalization of
capital reserve (or
share capital)
2. Capitalization of
surplus reserve (or
share capital)
3. Loss offset by
surplus reserve
4. Retained
earnings carried
forward from
changes in defined
benefit plans
5. Retained
earnings carried
forward from other
comprehensive
income
383187
6. Other -38318775.35
75.35
---
980477.
v. Special reserve 133184 133184 351367.
03
4.294.2926
187Luxshare Precision Industry Co. Ltd. 2025 Annual Report
1. Appropriation of 388218 388218 384871 773089
current period 19.05 19.05 00.05 19.10
2. Used in the 401536 401536 375066 776602
current period 63.34 63.34 23.02 86.36
vi. Others
IV. Balances as at 72364 531011 693270 153601 846871
527271754622219652161752
the End of the 62142. -703805634.26 39440.5 10925.9 15489.0 26415.0
028.727379.205.510044.25
Current Period 00 7 9 2 1
8. Statement of changes in owners’ equity of the parent company
Amount in the Reporting Period
Unit: RMB
2025
Other equity instruments
Item
Less: Other Total
Share Capital Special Surplus Retained
Treasury comprehensive Others owners’
capital reserves reserve reserve earnings
Preferred Perpetual shares income equity
Others
shares bonds
72364
I. Balances as at the 5272710 7445999 1617520 8429793 25261392
62142.4346079.89
End of the Prior Year 28.72 659.85 044.25 298.42 253.13
00
Plus: Changes in
accounting policies
Corrections
of accounting errors
in previous period
Others
72364
II. Balances as at the 5272710 7445999 1617520 8429793 25261392
62142.4346079.89
Beginning of the Year 28.72 659.85 044.25 298.42 253.13
00
III. Changes for the
-
Current Period 47980 1870568 50771265 1996857 4467024
100393.844005926.46
(Decrease Is Indicated 392.00 601.17 3.32 605.69 784.76
8
by “-”)
i. Total
50771265164077
comprehensive 86951097.40
533.24630.64
income
ii. Capital increased -
4798018705681918448
and reduced by 100393.8
392.00601.17599.29
owners 8
1. Ordinary shares 47970 1320463 1368433
contributed by owners 319.00 284.14 603.14
2. Capital contribution -
10073.556728.6
from holders of other 100393.8 466407.80
008
equity instruments 8
3. Share-based
549548554954858
payment recognized
188Luxshare Precision Industry Co. Ltd. 2025 Annual Report
in owner’s equity 88.35 8.35
4. Other
--
50771265
iii. Profit distribution 3123214 2615501
3.32
098.49445.17
-
1. Appropriation to 50771265
50771265
surplus reserves 3.32
3.32
2. Distributions to - -
owners (or 2614609 2614609
shareholders) 929.14 929.14
--
3. Other
891516.03891516.03
iv. Transfers within 42945170
-42945170.94
owners’ equity .94
1. Capitalization of
capital reserve (or
share capital)
2. Capitalization of
surplus reserve (or
share capital)
3. Loss offset by
surplus reserve
4. Retained earnings
carried forward from
changes in defined
benefit plans
5. Retained earnings
carried forward from
other comprehensive
income
42945170
6. Other -42945170.94.94
v. Special reserve
1. Appropriation of
current period
2. Used in the current
period
vi. Others
IV. Balances as at the 72844
5271706931656821252321042665029728417
End of the Current 42534. 48352006.35
34.84261.02697.57904.11037.89
Period 00
Amount in the prior period
Unit: RMB
189Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2024
Other equity instruments
Item
Less: Other Total
Share Capital Special Surplus Retained
Treasury comprehensive Others owners’
capital reserves reserve reserve earnings
Preferred Perpetual shares income equity
Others
shares bonds
53044
I. Balances as at the 7148168 52728902 113696524.4 1443520 8981176 23518283
33127.
End of the Prior Year 213.00 0.28 0 185.47 754.23 824.41
03
Plus: Changes in
accounting policies
Corrections
of accounting errors in
previous period
Others
53044
II. Balances as at the 7148168 52728902 113696524.4 1443520 8981176 23518283
33127.
Beginning of the Year 213.00 0.28 0 185.47 754.23 824.41
03
III. Changes for the
21415--
Current Period 88293929 17399985 1743108
-17991.5666532.109350444.555138345
(Decrease Is Indicated .00 8.78 428.72
8215.81
by “-”)
i. Total
17399981668966
comprehensive -71031669.16
587.81918.65
income
ii. Capital increased 21415
882939292229842
and reduced by -17991.56 66532..00470.26
owners 82
17190
1. Ordinary shares 88292139 1807386
94024.
contributed by owners .00 163.66
66
2. Capital contribution
99989.
from holders of other 1790.00 -17991.56 83788.01
57
equity instruments
3. Share-based
42237242237251
payment recognized
518.598.59
in owner’s equity
4. Other
--
17399985
iii. Profit distribution 2329700 2155700
8.78
818.97960.19
-
1. Appropriation to 17399985
17399985
surplus reserves 8.78
8.78
2. Distributions to - -
owners (or 2153401 2153401
shareholders) 833.67 833.67
190Luxshare Precision Industry Co. Ltd. 2025 Annual Report
--
3. Other 2299126. 2299126.
5252
iv. Transfers within 38318775
-38318775.35
owners’ equity .35
1. Capitalization of
capital reserve (or
share capital)
2. Capitalization of
surplus reserve (or
share capital)
3. Loss offset by
surplus reserve
4. Retained earnings
carried forward from
changes in defined
benefit plans
5. Retained earnings
carried forward from
other comprehensive
income
38318775
6. Other -38318775.35.35
v. Special reserve
1. Appropriation of
current period
2. Used in the current
period
vi. Others
IV. Balances as at the 74459
7236462527271021617520842979325261392
End of the Current 99659. 4346079.89
142.008.72044.25298.42253.13
Period 85
III. Basic Information of the Company
Luxshare Precision Industry Co. Ltd. (hereinafter referred to as the “Company” or “the Company”) is a company limited by shares
established by Shenzhen Zixin Investment Co. Ltd. (“Zixin Investment”) and Luxshare Limited as founders after being approved by
the People’s Government of Shenzhen Municipality and the Shenzhen Bureau of Trade and Industry in February 2009. The Company’s
Unified Social Credit Code is 91440300760482233Q. In September 2010 the Company was listed on the Shenzhen Stock Exchange.The Company is classified under the computer communication and other electronic equipment manufacturing industry.As at December 31 2025 the Company issued 7284442534.00 shares in total and the registered capital was RMB7284442534.00.The Company’s registered office is located at 2/F Block A Sanyang New Industrial Zone West Haoyi Community Shajing Street
Bao’an District Shenzhen China while its place of business is located at 313 Beihuan Road Qingxi Town Dongguan City
Guangdong China. The Company’s principal business activities are: General business projects: manufacture and operation of
connecting wires connectors computer peripherals and plastic hardware products.The parent company of the Company is Luxshare Limited.The actual controllers of the Company are Wang Laichun and Wang Laisheng.The financial statements were approved for issue by the Board of Directors of the Company on April 14 2026.
191Luxshare Precision Industry Co. Ltd. 2025 Annual Report
IV. Basis of Preparation of Financial Statements
1. Preparation basis
The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises - Basic Standard
promulgated by the Ministry of Finance (“MOF”) as well as specific accounting standards guidelines on accounting standards for
business enterprises announcements on interpreting the accounting standards for business enterprises and other related regulations
(hereinafter collectively referred to as the “Accounting Standards for Business Enterprises”) and the relevant provisions of the
Preparation Regulations of Information Disclosure by Companies Offering Securities to the Public No. 15 - General Regulations for
Financial Report issued by the China Securities Regulatory Commission.
2. Going concern
The financial statements have been prepared on a going concern basis. The Company has the ability to continue as a going concern
within 12 months from the end of the Reporting Period and detected no major events that may affect such ability.V. Significant Accounting Policies and Accounting Estimates
Specific accounting policies and accounting estimates indicators:
The following disclosures have covered specific accounting policies and accounting estimations formulated by the Company in line
with the features of its practical production and operations. For details please refer to Note “III. (10) Financial instruments” “III. (11)Inventories” “III. (16) Fixed Assets” “III. (19) Intangible Assets” and “III. (26) Revenue”.
1. Statement of compliance with the Accounting Standards for Business Enterprises
The financial statements are in line with the requirements of the Accounting Standards for Business Enterprises issued by the MOF
and truly and completely reflect the Company’s consolidated and its parent company’s financial positionas at December 31 2025 as
well as the Company’s consolidated and its parent company’s operating results and cash flows in 2025.
2. Accounting period
The accounting year is from January 1 to December 31 of each calendar year.
3. Operating cycle
The operating cycle of the Company is 12 months.
4. Functional currency
RMB is adopted by the Company as the bookkeeping base currency. Subsidiaries of the Company determine their bookkeeping base
currencies based on the primary economic environment in which they operate. The bookkeeping base currency of subsidiaries within
the Chinese mainland is RMB. Subsidiaries outside the Chinese mainland determine their bookkeeping base currencies according to
the primary economic environment in which they operate mainly including USD TWD EUR HKD and VND. The financial
statement herein is presented in RMB.
5. Methods for determining materiality criteria and selection criteria
□Applicable □ Not applicable
Item Materiality criteria
The amount of provision accrued individually accounts for over
Significant individual provision for bad debt reserve of
10% of the total bad debt provision for various receivables and
receivables
exceeds RMB50 million
Contract liabilities with an aging of over one year for a single
Material contract liabilities that have aged over 1 year item account for more than 10% of the total contract liabilities
and the amount exceeds RMB50 million
Accounts payable/other accounts payable with an aging of over
one year for a single item account that account for more than
Material accounts payable and other accounts payable
10% of the total accounts payable/other accounts payable and
exceed RMB100 million
Significant construction in progress Budget for a single project exceeds RMB500 million
192Luxshare Precision Industry Co. Ltd. 2025 Annual Report
A single item accounts for more than 10% of total goodwill and
Significant goodwill
exceeds RMB200 million
Total assets operating revenue or total profit (or the absolute
value of total losses) one of which or all of which accounts for
Significant non-wholly-owned subsidiaries
more than 10% of the corresponding item in the consolidated
financial statements
The carrying amount of long-term equity investment in a single
investee account for more than 5% of the Group’s net assets
and exceeds RMB1 billion or the investment profit or loss
Significant joint ventures or associated enterprises
under the equity method for long-term equity investments
accounts for more than 10% of the Group’s consolidated net
profit
6. Accounting treatment method for business combinations under the common control and not under common control
Business combinations involving enterprises under common control: Assets and liabilities acquired by the acquirer in a business
combination (including the goodwill formed by the ultimate controlling party’s acquisition of the acquiree) are measured based on the
carrying values of the assets and liabilities of the combining party in the consolidated financial statements of the ultimate controlling
party on the combination date. The difference between the carrying value of the net assets obtained in the combination and the carrying
value of the consideration paid for the combination (or the total par value of the shares issued) shall be adjusted against the share
premium in capital reserve. If the share premium in capital reserve is insufficient to absorb the difference retained earnings shall be
adjusted.Business combinations not under the common control: The cost of combination is the fair value on the acquisition date of the assets
transferred liabilities incurred or assumed and equity securities issued by the acquirer in exchange for obtaining control of the acquiree.The combination cost which is greater than the difference of the fair value share of the acquiree’s identifiable net assets acquired in
the combination is recognized as goodwill; the combination cost which is less than the difference of the fair value share of acquiree’s
identifiable net assets acquired in the combination is included in the profit or loss of the current period. The acquiree’s identifiable
assets liabilities and contingent liabilities which meet the recognition conditions acquired in combination are measured at the fair
value on the acquisition date.The directly related expenses for a business combination are included in the profit or loss of the current period; the transaction costs
for the equity securities or debt securities for a business combination are included in the initial recognition amount of the equity
securities or debt securities.
7. Criteria for judging control and methods for preparing consolidated financial statements
1. Criteria for judging control
Combination scope for consolidated financial statements is determined based on control including the Company and all subsidiaries.Control refers to the power that the investor owns against the investee which allows the investor to enjoy the variable returns by
attending relevant activities held by the investee and to be capable of using such power to affect the amount of returns.
2. Consolidation procedures
The Company prepared the consolidated financial statements by considering the entire enterprise group as one accounting entity
reflecting the overall financial status operational results and cash flows in accordance with the unified accounting policies. The impact
of internal transactions between the Company and its subsidiaries as well as between subsidiaries and each other is offset. If an internal
transaction indicated an impairment loss on a related asset the portion of the loss is recognized in full. If the accounting policies and
accounting period adopted by the subsidiaries are inconsistent with those of the Company necessary adjustments are made in
accordance with the accounting policies and accounting period of the Company when preparing the consolidated financial statements.The portion of a subsidiary’s shareholders’ equity and the portion of a subsidiary’s net profits and losses for the period are recognized
as minority interests and minority shareholder profits and losses respectively and presented separately under shareholders’ equity and
net profits in the consolidated financial statements. The portion of a subsidiary’s net profits and losses for the period that belong to
minority interests is presented as the item of “minority shareholder profits and losses” under net profit in the consolidated financial
statements. Where the loss of a subsidiary shared by minority shareholders exceeds the portion enjoyed by minority shareholders in
the subsidiary’s opening owners’ equity minority interests are offset.
(1) Addition of subsidiaries or businesses
During the Reporting Period where a subsidiary or business is added through a business combination involving entities under common
control the operating results and cash flows of the subsidiary or business from the beginning of the current period of combination to
the end of the Reporting Period are included in the consolidated financial statements and the opening balances of the consolidated
193Luxshare Precision Industry Co. Ltd. 2025 Annual Report
financial statements and the relevant items in the comparative financial statements are adjusted as if the reporting entity after the
combination had existed continuously from the time when the ultimate controlling party began to exercise control.Where control over an investee under common control is obtained through additional investments and other reasons equity investments
held before the acquisition of the control right over the acquiree and relevant profit or loss other comprehensive income and other
changes in net assets which are recognized from the date when the original equity is acquired or the date when the acquirer and the
acquiree are ultimately controlled by the same party whichever is later to the combination date are offset against the opening retained
earnings or the profit or loss of the current period during the comparative statements respectively
During the Reporting Period the subsidiaries or businesses which are added through business combinations not involving entities
under common control are included in the consolidated financial statements from the acquisition date based on the fair value of
identifiable assets liabilities and contingent liabilities recognized on the acquisition date.Where control over an investee under common control is obtained through additional investments and other reasons equities of the
acquiree held before the acquisition date are re-measured according to the fair value of the equities on the acquisition date and the
difference of the fair value and the carrying value is included in the investment income for the current period. Other comprehensive
income related to the equity interest in the acquiree held before the acquisition date that may be reclassified into profit or loss
subsequently and changes in other owners’ equity under the equity method shall be transferred to the investment income for the
current period to which the acquisition date belongs.
(2) Disposal of subsidiaries
1) General disposal methods
If the control over the investee for the disposal of part of equity investments or any other reason is lost the residual equity investments
are re-measured at fair value on the date of loss of control. The summation of the consideration obtained from the disposal of equity
interests and the fair value of the residual equity interests minus the portion in the original subsidiary’s net assets measured on a
continuous basis from the acquisition date that is attributable to the Group based on its original shareholding percentage in the
subsidiary is recorded in investment gains for the period when the Group’s control on the subsidiary ceases. Other comprehensive
income that could be reclassified into profit or loss and other changes in owners’ equity accounted by the equity method related to the
equity investments in the former subsidiary are transferred to the return on investment of the current period after loss of control.
2) Disposal of subsidiaries step by step
If the clauses conditions and economic impact by which the equity investments of a subsidiary are disposed of step by step through
multiple transactions until the control is lost and the various transactions in the equity investments of a subsidiary are disposed of fall
under one or more of the following circumstances the multiple transactions are generally regarded as a “Package Deal”:
i. These transactions are reached concurrently or after the impact thereof on each other is taken into consideration;
ii. These transactions might achieve a complete business result only as a whole;
iii. The occurrence of a transaction depended on the occurrence of at a minimum one another transaction;
iv. A transaction is considered uneconomical separately but is considered economical when other transactions are also taken into
consideration.If the transactions constitute a package deal each transaction shall be accounted for as a transaction that disposes of and loses control
over a subsidiary. The difference between the disposal price and the share of the net assets of the subsidiary corresponding to the
disposal investment for each disposal prior to the loss of control shall be recognized as other comprehensive income in the consolidated
financial statements and transferred to profit or loss for the current period when the control rights are lost.If those transactions are not package deals before loss of control partial disposal of the equity investments of subsidiaries are carried
out in accounting treatment according to the circumstance of without loss of control; after loss of control general disposal methods for
subsidiaries are carried out in accounting treatment.
(3) Acquisition of minority equity of subsidiaries
The balance existed between the long-term equity investment increased by acquiring shares of minority interest and the attributable net
assets on the subsidiary calculated by the increased shares held since the purchase date or combination date the share premium of
capital reserves within the consolidated balance sheet shall be adjusted if the capital reserves are not sufficient to offset the retained
earnings shall be adjusted.
(4) Partial disposal of the equity investments of subsidiaries in the circumstance of without loss of control
The difference between the disposal consideration and the share of the subsidiary’s net assets corresponding to the disposal of long-
term equity investments and continuously calculated from the acquisition date or combination date shall be adjusted against share
premium in capital reserve in the consolidated balance sheet. If the capital reserves are not sufficient to offset the retained earnings
shall be adjusted.
194Luxshare Precision Industry Co. Ltd. 2025 Annual Report
8. Classification of joint arrangements and accounting treatment method of joint operations
Joint arrangements are classified as either joint operations or joint ventures.A joint operation is a joint arrangement whereby the party to joint arrangement has rights to the assets and obligations for the liabilities
related to the arrangement.The Company recognizes the following items relating to its share of interests in a joint operation:
(1) Recognize assets solely held by the Company and those jointly owned assets according to the Company’s share;
(2) Recognize liabilities solely assumed by the Company and those jointly assumed liabilities according to the Company’s share;
(3) Recognize revenue from sales of the share that the Company enjoys in the output of joint operation;
(4) Recognize revenue from sales in the joint operation according to the Company’s share;
(5) Recognize expenses solely incurred and those incurred for joint operation according to the Company’s share.The Company’s investments in joint ventures are accounted for by equity method. For details please refer to Note “V. (22) Long-termequity investments”.
9. Confirmation standard for cash and cash equivalents
Cash refers to the cash on hand and other deposits of the Company that can be used for payment at any time. Cash equivalents refer to
the Company’s investments on hand that have short-term and strong liquidity and can be easily converted into cash with a known
amount with a small risk of value change.
10. Foreign currency businesses and translation of foreign currency financial statements
1. Foreign currency business
For foreign currency transactions the spot exchange rate on the first day of each month is used as the conversion rate to convert the
foreign currency amount into RMB for bookkeeping.On the balance sheet date the monetary items in foreign currency are converted into RMB at the spot exchange rate on balance sheet
date. Except the exchange difference arising from special foreign-currency borrowing for the purpose of construction or production of
assets eligible for capitalization is treated in the principle of capitalization the conversion difference is directly included in the profit
or loss of the current period.
2. Translation of foreign currency financial statements
The assets and liabilities in the balance sheet shall be translated at the spot rate on the balance sheet date. All items of owners’ equity
except for “retained earnings” shall be translated at the spot exchange rate at the time of occurrence. Items under income and costs in
the income statement are translated at the spot exchange rate on the transaction date.When disposing of an overseas operation the difference arising from the translation of foreign currency-denominated financial
statements related to the overseas operation is transferred from the owners’ equity item to the profit or loss for the current period.
11. Financial instruments
Financial assets financial liabilities or equity instruments are recognized when the Company becomes a party to financial instrument
contracts.
1. Classification of financial instruments
At initial recognition according to the business model of managing financial assets and the contractual cash flow characteristics of
financial assets the Company classified financial assets into the following categories: Financial assets measured at the amortized cost
financial assets measured at fair value through other comprehensive income and financial assets measured at fair value through profit
or loss of the current period.The Company classifies financial assets that meet the following conditions and are not designated to be measured at fair value and
whose changes are included in current profit or loss as financial assets measured at amortized cost:
- The business model aimed at obtaining the contractual cash flows;
- Contractual cash flows are only payments of principal and interest based on the amount of outstanding principal.The Company classifies financial assets that meet the following conditions and are not designated to be measured at fair value and
whose changes are included in current profit or loss as financial assets measured at fair value and whose changes are included in other
comprehensive income (debt instruments):
- The business model aimed at both obtaining the contractual cash flows and selling the financial assets;
195Luxshare Precision Industry Co. Ltd. 2025 Annual Report
- Contractual cash flows are only payments of principal and interest based on the amount of outstanding principal.For instruments in non-business equity instruments the Company may irrevocably assign such investments as financial assets (equity
instruments) measured at fair value through other comprehensive income at initial recognition. The assignment is made based on
investments by item and the relevant investments meet the definition of an equity instrument from the issuer’s perspective.Except for the above financial assets measured at amortized cost and at fair value with changes included in other comprehensive income
the Company classifies all other financial assets as financial assets measured at fair value with changes included in current profit or
loss. At initial recognition if the accounting mismatch could be eliminated or significantly reduced the Company would irrevocably
assign financial assets that should be classified as financial assets measured at the amortized cost and financial assets measured at fair
value through other comprehensive income as financial assets measured at fair value through profit or loss of the current period.At initial recognition financial liabilities are classified into the following two categories: financial liabilities measured at fair value
through profit or loss of the current period and financial liabilities measured at the amortized cost.Financial liabilities that meet one of the following conditions can be designated as financial liabilities at fair value through profit or
loss at initial measurement:
1) The accounting mismatch can be eliminated or significantly reduced.
2) According to the risk management or investment strategy of the Company as stated in formal written documents the portfolio of
financial liabilities or the portfolio of financial assets and financial liabilities is managed and evaluated on the basis of fair value and
also reported to the Company’s key management personnel on the basis of fair value.
3) The financial liabilities contain embedded derivative instruments that require splitting.
2. Recognition basis and measurement methods of financial instruments
(1) Financial assets measured at the amortized cost
Financial assets measured at amortized cost include notes receivable accounts receivable other receivables long-term receivables
debt investments etc. and are initially measured at fair value with the relevant transaction costs included in the amount initially
recognized; accounts receivable that do not contain a significant financing component as well as accounts receivable for which the
Company has decided not to consider a financing component with a term of no more than one year are initially measured at the
transaction price under the contract.Interest calculated by the effective interest method during the holding period is included in the profit or loss of the current period.When recovering or disposing of the difference between the price obtained and the carrying value of the financial assets is included in
the profit or loss of the current period.
(2) Financial assets (debt instruments) measured at fair value through other comprehensive income
Financial assets (debt instruments) measured at fair value through other comprehensive income include receivable financing other
debt investments etc. and are initially measured at fair value with related transaction costs included in the amount initially recognized.The financial assets are subsequently measured at fair value with the changes in fair value recognized under other comprehensive
income except for interest impairment loss or gain and exchange profit or loss calculated by the effective interest method.When the financial asset is derecognized the accumulated gains or losses previously included in other comprehensive income are
transferred out and included in the profit or loss of the current period.
(3) Financial assets (equity instruments) measured at fair value through other comprehensive income
Financial assets (equity instruments) measured at fair value with changes recognized in other comprehensive income including
investments in other equity instruments are initially measured at fair value and related transaction costs are included in the initial
recognition amount. The financial assets are subsequently measured at fair value with changes in fair value recognized in other
comprehensive income. The dividends obtained are included in the profit or loss of the current period.The accumulative gains or losses which are previously included in other comprehensive income are transferred out from other
comprehensive income and included in retained earnings upon derecognition.
(4) Financial assets measured at fair value through the profit or loss for the current period
Financial assets measured at fair value through the profit or loss for the current period include financial assets held for trading
derivative financial assets and other non-current financial assets among others and are initially measured at fair value with the related
transaction costs included in the profit or loss of the current period. The financial assets are subsequently measured at fair value with
the changes in fair value recognized under the profit or loss of the current period.
(5) Financial liabilities measured at fair value through the profit or loss of the current period
Financial liabilities measured at fair value through the profit or loss of the current period include financial liabilities held for trading
derivative financial liabilities etc. and are initially measured at fair value with the related transaction costs included in the profit or
196Luxshare Precision Industry Co. Ltd. 2025 Annual Report
loss of the current period. The financial liabilities are subsequently measured at fair value with the changes in fair value recognized
under the profit or loss of the current period.On derecognition the difference between the carrying value and the consideration paid is included in the profit or loss of the current
period.
(6) Financial liabilities measured at amortized cost
Financial liabilities measured at amortized cost include short-term borrowings notes payable accounts payable other payables long-
term borrowings bonds payable and long-term payables and are initially measured at fair value with related transaction costs included
in the initially recognized amount.Interest calculated by the effective interest method during the holding period is included in the profit or loss of the current period.On derecognition the difference between the consideration paid and the carrying value of the financial liabilities is included in the
profit or loss of the current period.
3. Basis and measurement methods for derecognition of financial assets and transfers of financial assets
If any of the following conditions is met the Company derecognizes the financial asset:
- The contractual right to obtain cash flows from the financial asset is terminated;
- The financial asset has been transferred and almost all risks and remuneration of the ownership of the financial asset are transferred
to the transferee.- The financial asset had been transferred although the Company neither transferred nor retained almost all risks and remuneration of
the ownership of the financial asset but retained no control over the financial asset.When the Company modifies or renegotiates a contract with a counterparty and the modification constitutes a material change the
original financial asset will be derecognized and a new financial asset will be recognized in accordance with the modified terms.When a financial asset is transferred the Company does not derecognize the financial asset if almost all risks and remuneration of the
ownership of the financial asset are retained.When judging whether the transfer of a financial asset meets the above-mentioned conditions for derecognition of the financial asset
the principle of substance over form is adopted.The Company classifies transfers of financial assets into transfers of the entire financial asset and transfers of a portion of the financial
asset. If the overall transfer of financial assets met the conditions for derecognition the difference between the following amounts is
included in the profit or loss for the current period:
(1) The carrying value of the transferred financial assets;
(2) The sum of the consideration obtained due to the transfer and the cumulative amount of the changes in fair value that are directly
included in owners’ equity (involving the circumstance in which the transferred financial assets are the financial assets (debt
instruments) measured at fair value through other comprehensive income).If the partial transfer of financial assets met the conditions for derecognition the overall carrying value of the transferred financial
assets is divided between the derecognition portion and non derecognition portion according to their respective relative fair value. The
difference between the following amounts is included in profit or loss of the current period:
(1) The carrying value of the derecognition portion;
(2) The sum of the consideration for the derecognition portion and the amount of the corresponding derecognition portion in the
cumulative amount of the changes in fair value that are directly included in owners’ equity (involving the circumstance in which the
transferred financial assets are the financial assets (debt instruments) measured at fair value through other comprehensive income).If the transfer of financial assets does not meet the conditions for derecognition the financial assets continue to be recognized and the
consideration received is recognized as a financial liability.
4. Derecognition of financial liabilities
If all or part of the current obligations of a financial liability were discharged overall or partial derecognition of the financial liability
performed; by concluding an agreement with the creditor the Company replaced the existing financial liabilities by assuming new
financial liabilities. If the contract terms are materially different from the new and the existing financial liabilities the Company
derecognized the existing financial liabilities and recognized the new financial liabilities at the same time.If all or part of the contract terms of the existing financial liabilities are substantially modified overall or partial derecognition of the
existing financial liabilities is performed and the financial liability after changes of terms is recognized as a new financial liability.
197Luxshare Precision Industry Co. Ltd. 2025 Annual Report
When overall or partial derecognition of the existing financial liabilities is performed the difference between the carrying value of the
derecognized financial liabilities and the consideration paid (including the transferred non-cash assets or the new financial liabilities
assumed) is included in the profit or loss of the current period.If the Company repurchased part of the financial liabilities the overall carrying value of the financial liabilities is allocated according
to the relative fair value of the portion continued to be recognized and the portion derecognized on the repurchase date. The difference
between the carrying value allocated to the derecognized portion and the consideration paid (including non-cash assets transferred or
the new financial liabilities assumed) is included in the profit or loss of the current period.
5. Methods for determining the fair value of financial assets and financial liabilities
For financial instruments with an active market their fair value is determined based on quoted prices in the active market. For financial
instruments without an active market valuation techniques are adopted to determine their fair value. When valuing the Company
applies valuation techniques that are appropriate under the current circumstances and supported by sufficient available data and other
information. It selects inputs consistent with the characteristics of the relevant assets or liabilities that market participants would
consider in transacting such assets or liabilities and gives priority to relevant observable inputs. Unobservable inputs are only used
when relevant observable inputs are not available or impracticable to obtain.
6. Testing methods and accounting treatment methods for impairment of financial instruments
The Company shall apply impairment accounting treatment for the financial assets measured at amortized cost financial assets (debt
instruments) measured at fair value through other comprehensive income and financial guarantee contracts based on the expected
credit losses.Considering the reasonable and reliable information about past events current situation and the forecast of future economic situation
the company takes the risk of default as the weight calculates the probability weighted amount of the present value of the difference
between the cash flow receivable from the contract and the cash flow expected to be received and confirms the expected credit loss.Regarding the receivables and contract assets formed from transactions regulated by the Accounting Standards for Business Enterprises
No. 14 - Revenue regardless of whether they contain significant financing components or not the Company always measures their loss
reserves in accordance with the amount of lifetime expected credit losses.Regarding receivables from leasing formed from transactions regulated by the Accounting Standards for Business Enterprises No. 21
- Leases the Company always measures their loss provision in accordance with the amount of lifetime expected credit losses.Regarding other financial instruments the Company assesses at each balance sheet date their credit risk changes since initial recognition.In order to determine the relative changes in the default risk of financial instruments during their expected duration and to assess
whether the credit risk of financial instruments has increased significantly since initial recognition the Company compares the default
risk of financial instruments on the balance sheet date with the default risk on the initial recognition date. Usually overdue for more
than 30 days the Company recognizes that the credit risk of the financial instrument has increased significantly unless there is
conclusive evidence indicating that the credit risk of the financial instrument has not increased significantly since the initial recognition.If the credit risk of a financial instrument is low on the balance sheet date the Company recognizes that the credit risk of the financial
instrument has not increased significantly since the initial recognition.If the credit risk of the financial instrument is increased significantly since the initial recognition the Company measures its loss
provision according to the amount equivalent to the lifetime expected credit losses of the financial instrument; if the credit risk of the
financial instrument is not increased significantly since the initial recognition the Company measures its loss provision according to
the amount equivalent to the expected credit losses of the financial instrument in the next 12 months. Increases or reversals of loss
provision arising therefrom are recognized in profit or loss for the current period as impairment losses or gains. Regarding financial
assets (debt instruments) at fair value through other comprehensive income the Company recognizes their loss provision through other
comprehensive income and includes impairment losses or gains in the profit or loss for the current period without reducing the carrying
amount of such financial assets as presented in the balance sheet.
1) The basis for determining the combinations for the recognition of notes receivable is as follows:
Item Combination category Determination basis
Notes receivable Combination 1: Bank acceptance bills Type of acceptance bills
Combination 2: Commercial acceptance
Notes receivable Type of acceptance bills
bills
Where upon initial recognition of accounts receivable in connection with revenue recognition the Company subsequently converts
such accounts receivable into settlement by commercial bills the aging of notes receivable is calculated in accordance with the principle
of continuous aging with the starting point of the aging of notes receivable traced back to the initial aging date of the corresponding
receivables.
198Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2) The basis for determining the combinations of accounts receivable is as follows:
Item Combination category Determination basis
Accounts Combination 2: Aging
Customer type customer credit risk characteristics
receivable combination
The Company begins to calculate the aging of accounts receivable from the time of initial recognition when the conditions for revenue
recognition are satisfied and the actual aging period is from initial recognition to the balance sheet date.
3) The basis for determining the combinations for other receivables is as follows:
Item Combination category Determination basis
Combination 2: Aging
Other receivables Customer type customer credit risk characteristics
combination
The Company begins to calculate the aging of other receivables from the time they are initially recorded. The actual aging period is
from initial recognition to the balance sheet date.
4) The basis for determining the combinations of receivable financing is as follows:
Item Combination category Determination basis
Receivables financing Combination 1: Bank acceptance bills Type of acceptance bills
5) Criteria for determining receivables for individual provision for bad debt reserve
Using reasonable and supportable forward-looking information available the Company determines that credit risk has increased
significantly by comparing the risk of default on a financial instrument as at the balance sheet date with the risk of default as at the date
of initial recognition after comprehensively considering whether there have been significant changes actual or expected in the
operating results of the above debtors; whether there have been significant adverse changes in the regulatory economic or
technological environment in which they operate; whether there have been significant changes in the value of collateral pledged as
security for the debt or in the quality of guarantees or credit enhancements provided by third parties and whether such changes are
expected to reduce the debtor's economic incentive to repay within the contractual term or affect the probability of default; and whether
there have been significant changes in the debtor’s expected performance and repayment behavior among other factors. The Company
determines that credit impairment has occurred after comprehensively analyzing factors such as whether the debtor is experiencing
significant financial difficulty breach of contract or overdue payments or a decline in the activity level of the financial asset as a result
of the debtor’s financial difficulty. If a customer or other debtor of the Company experiences serious financial difficulty overdue
repayment or other such circumstances and no effective credit enhancement measures or other safeguards are provided for the relevant
claims the Company conducts an individual impairment test considers the exposure at default and the expected credit loss rate in the
whole duration and makes provision for bad debt reserve based on the difference between the carrying value of the financial asset and
the present value of estimated future cash flows.If the Company no longer reasonably expects to recover all or part of the contractual cash flows the book balance of the financial asset
is directly written down.
12. Notes receivable
For details please refer to Note V XI. “Financial Instruments”.
13. Accounts receivable
For details please refer to Note V XI. “Financial Instruments”.
14. Receivable financing
For details please refer to Note V XI. “Financial Instruments”.
15. Other receivables
For details please refer to Note V XI. “Financial Instruments”.
199Luxshare Precision Industry Co. Ltd. 2025 Annual Report
16. Contract assets
1. Recognition methods and criteria for contract assets
The Company presents contract assets or contract liabilities in the balance sheet based on the relationship between its performance
obligations and customers’ payments. The Company presents the right to receive consideration for goods transferred or services
provided to the customer (and which is dependent on factors other than time-lapse) as a contract asset. Contract assets and contract
liabilities under the same contract are presented at a net amount. The right of the Company to receive consideration from its customers
unconditionally (only depending on the passage of time) is separately presented as receivables.
2. Methods for determining expected credit losses of contract assets and accounting treatment methodsFor the method for determining expected credit losses of contract assets and the accounting treatment method please refer to Note “V.
(11) 6. Testing methods and accounting treatment methods for impairment of financial instruments”.
17. Inventory
1. Classification and costs of inventories
Inventories are classified into materials in transit raw materials revolving materials inventory goods goods in progress goods
dispatched consigned materials for processing contract fulfillment costs data resources etc.Inventories are initially measured at cost. Inventory costs include purchase costs processing costs and other expenditures incurred in
bringing the inventories to their present location and condition.
2. Pricing method of issuing inventories
Inventories issued are measured using the month-end one-time weighted average method.
3. Inventory system of inventories
The perpetual inventory system is adopted.
4. Amortization method for low-value consumables and packing materials
The Company’s revolving materials include low-value consumables packing materials etc. High-value revolving materials are
amortized monthly based on their estimated useful lives when used; other low-value consumables are amortized using the one-time
amortization method when used; packing materials are amortized using the one-time amortization method when used.
5. Criteria for the recognition of inventory write-down reserves and provisioning methods
On the balance sheet date inventories are measured at the lower of cost and net realizable value. Where the cost of inventories exceeds
their net realizable value provision for inventory write-down reserves shall be made. Net realizable value refers to the estimated selling
price of inventory in the ordinary course of business less the estimated costs to complete the product estimated selling expenses and
related taxes.Finished goods inventory goods and materials held for sale and other commodity inventories directly intended for sale are measured
at their net realizable value which is determined in the normal course of production and operations based on the estimated selling price
of such inventories less the estimated selling expenses and relevant taxes and surcharges. For material inventories that require further
processing in the normal course of production and operations their net realizable value is determined based on the estimated selling
price of the finished goods to be produced less the estimated costs to completion estimated selling expenses and relevant taxes and
surcharges. For inventories held for the performance of sales contracts or service contracts their net realizable value is calculated based
on the contract price; if the quantity of inventories held exceeds the quantity ordered under the sales contract the net realizable value
of the excess portion of the inventories is calculated based on the general selling price.If the influence of the previous write-down value of inventories has vanished after the provision for inventory write-down reserves
causing the net realizable value of inventories to be higher than the carrying value the amount of the previous provision of inventory
write-down reserves is reversed and the reversed amount is included in the profit or loss of the current period.
18. Assets held for sale
1. Held for sale
The Company classifies a non-current asset or disposal group as held for sale when the carrying value of the non-current asset or
disposal group will be recovered through a sale transaction (including non-monetary asset exchange with commercial substance) rather
than through continuing use.The Company classifies non-current assets or disposal groups meeting all the following conditions as held for sale:
(1) The asset or disposal group is available for immediate sale in its present condition in accordance with customary terms and practices
for selling such assets or disposal groups in similar transactions;
200Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Sales are highly likely to occur that is the Company has already made a resolution on a sale plan and obtained a certain purchase
commitment and the sale is expected to be completed within one year. The sale shall have been approved if the relevant regulations
require the approval of the relevant or regulatory authority governing the Company.If the carrying value of non-current assets (excluding financial assets deferred income tax assets or assets formed by employee benefits)
or disposal groups meeting all the following conditions as held for sale is higher than the fair value minus the net amount of the sale
costs the carrying value will be written down to the net amount of fair value minus the sale costs the amount written down will be
recognized as asset impairment losses and included in the profit or loss for the current period and provision for impairment of assets
held for sale will be made.
2. Discontinued operations
A discontinued operation is a separately distinguishable component meeting one of the following conditions and which has been
disposed of by the Company or is classified by the Company as held for sale:
(1) The component represents a separate major line of business or a separate principal area of operations;
(2) The component is part of a coordinated plan to dispose of a separate major line of business or a separate principal area of operations;
(3) The component is a subsidiary acquired exclusively with a view to resale.
Profit or loss from going-concern and profit or loss from discontinued operations are presented separately in the income statement.Operating gains and losses such as impairment losses and reversal amounts for discontinued operations and gains and losses on
disposals are presented as gains and losses from discontinued operations. For discontinued operations presented in the current period
the Company restated in the current period financial statements the information previously presented as profit or loss from going-
concern as profit or loss from discontinued operations for the comparable accounting period.
19. Long-term equity investments
1. Criteria for determining joint control and significant influence
Joint control refers to the common control of an arrangement in accordance with the relevant agreement and related activities of the
arrangement must be agreed upon by the parties sharing control rights before they can make decisions. If the Company and other joint
venture parties jointly controlled the investee and have rights to the net assets of the investee the investee is a joint venture of the
Company.Significant influence means having the power to participate in the financial and operating policy decision-making of the investee but
cannot control or together with other parties jointly control the formulation of these policies. If the Company could exert significant
influence on it the investee is an associate of the Company.
2. Determination of initial investment cost
(1) Long-term equity investments resulting from business combinations
For a long-term equity investment in a subsidiary formed through a business combination under common control the initial investment
cost of the long-term equity investment on the combination date shall be the share of the carrying value of the acquiree’s owners’ equity
as presented in the consolidated financial statements of the ultimate controlling party. The difference between the initial investment
cost of the long-term equity investment and the carrying value of the consideration paid shall be adjusted against share premium in
capital reserve; where the share premium in capital reserve is insufficient for offset retained earnings shall be adjusted. Where control
over the investee under common control is obtained due to additional investment or other reasons the difference between the initial
investment cost of the long-term equity investment recognized in accordance with the above principles and the sum of the carrying
value of the long-term equity investment before the combination and the carrying value of the newly paid consideration for further
acquisition of shares on the combination date shall be adjusted against share premium; where the share premium is insufficient for
offset retained earnings shall be reduced.For a long-term equity investment in a subsidiary formed through a business combination not under common control the initial
investment cost of the long-term equity investment shall be the combination cost determined on the acquisition date. Where control
over an investee not under common control is obtained through additional investments and other reasons the initial investment cost is
the sum of the carrying value of the former equity investments held plus the new additional investment cost.
(2) Long-term equity investments acquired by means other than business combinations
For the long-term equity investments acquired by payment in cash the initial investment cost is the actual purchasing price that is paid.For the long-term equity investments acquired by issuing equity securities the initial investment cost is the fair value of the issued
equity securities.
3. Method of subsequent measurement and recognition of profit or loss
(1) Long-term equity investments accounted by cost method
201Luxshare Precision Industry Co. Ltd. 2025 Annual Report
The Company’s long-term equity investments in subsidiaries are accounted by cost method unless the investments meet the conditions
for being classified as held for sale. Except for the price actually paid at the acquisition of investment or the declared but undistributed
cash dividends or profits included in the consideration the Company recognizes the return on investment of the current period in
accordance with the cash dividends or profits declared and distributed by the investee.
(2) Long-term equity investments accounted by equity method
Long-term equity investments in associates and joint ventures are accounted by equity method. Where the initial investment cost
exceeds the share of the fair value of the investee’s identifiable net assets at the time of investment the difference is not adjusted to the
initial investment cost of the long-term equity investment; where the initial investment cost is less than the share of the fair value of
the investee’s identifiable net assets at the time of investment the difference is recognized in the profit or loss of the current period
with a corresponding adjustment to the cost of the long-term equity investment.Based on the share of the investee’s net profit or loss and other comprehensive income that the Company is entitled to enjoy or required
to bear the Company separately recognizes investment income and other comprehensive income while adjusting the carrying value
of long-term equity investments; based on the portion of profits or cash dividends declared for distribution by the investee that the
Company is entitled to enjoy the carrying value of long-term equity investments is reduced accordingly; for other changes in owners’equity of the investee other than net profit or loss other comprehensive income and profit distribution (hereinafter referred to as “otherchanges in owners’ equity”) the carrying value of long-term equity investments is adjusted and included in owners’ equity.When recognizing the share of the investee’s net profit or loss other comprehensive income and changes in other owners’ equity to
which the Company is entitled recognition is based on the fair value of the investee’s identifiable net assets at the time the investment
is acquired and is recognized after adjusting the investee’s net profit other comprehensive income etc. in accordance with the
Company’s accounting policies and accounting period.Unrealized profits and losses from internal transactions between the Company and its associates or joint ventures are offset to the extent
attributable to the Company based on its shareholding ratio and investment income is recognized on this basis except where the
contributed or sold assets constitute a business. Unrealized internal transaction losses incurred by the Company and the investees fall
under the category of asset impairment losses are recognized in full.For net losses incurred by a joint venture or associate unless the Company is obligated to bear additional losses the losses recognized
are limited to reducing the carrying amount of the long-term equity investment and other long-term interests that in substance form
part of the Company’s net investment in the joint venture or associate to zero. If the joint venture or associate subsequently realizes net
profits the Company resumes recognizing its share of profits after its share of profits has offset the share of losses previously
unrecognized.
(3) Disposal of long-term equity investments
Upon disposal of a long-term equity investment the difference between the carrying value and the actual consideration received is
recognized in profit or loss for the current period.For a partial disposal of a long-term equity investment accounted for using the equity method where the remaining equity interest
continues to be accounted for using the equity method other comprehensive income originally recognized under the equity method is
carried forward at the corresponding proportion on the same basis as that used by the investee upon direct disposal of the related assets
or liabilities and other changes in owners’ equity are carried forward in proportion and recognized in profit or loss of the current period.If due to the disposal of equity investments or other reasons the Company loses joint control over or significant influence on the
investee the other comprehensive income originally recognized for the equity investment under the equity method is accounted for
upon discontinuation of the equity method on the same basis as that used for the investee’s direct disposal of the related assets or
liabilities and all other changes in owners’ equity are transferred in full to profit or loss of the current period upon discontinuation of
the equity method.If the control over the investee is lost due to the disposal of part of the equity investment or for other reasons when preparing the
separate financial statements if the remaining equity interest can exercise joint control over or significant influence on the investee
it can be accounted for using the equity method instead and the remaining equity is adjusted as if it has been accounted for using the
equity method from the date of acquisition. Other comprehensive income recognized before obtaining control over the investee shall
be transferred proportionately on the same basis as would be applied if the investee has directly disposed of the related assets or
liabilities and all other changes in owners’ equity recognized due to the adoption of the equity method is transferred proportionately
to profit or loss of the current period. If the remaining equity cannot exercise joint control over or significant influence on the investee
it shall be recognized as a financial asset and the difference between its fair value and carrying value on the date control is lost is
included in current profit or loss. All other comprehensive income and other changes in owners’ equity recognized before obtaining
control over the investee is transferred in full.Where an equity investment in a subsidiary is disposed of in stages through multiple transactions until control is lost if such transactions
constitute a package deal each transaction is accounted for as one transaction involving the disposal of the equity investment in the
subsidiary and the loss of control; before the loss of control the difference between the consideration for each disposal and the carrying
value of the long-term equity investment corresponding to the equity disposed of in the separate financial statements is first recognized
in other comprehensive income and upon the loss of control is transferred in full to the profit or loss of the current period in which
control is lost. Each transaction is accounted for separately if it does not belong to a package deal.
202Luxshare Precision Industry Co. Ltd. 2025 Annual Report
20. Investment properties
Measurement model of investment property
Cost method measurement
Depreciation or amortization method
Investment property refers to real property held to earn rentals or for capital appreciation or both including leased land use rights land
use rights held for subsequent transfer after appreciation and leased buildings (including buildings for rental after self-construction or
completed development activities and buildings under construction or development for future rental).Subsequent expenditures related to investment property are included in the cost of investment property when it is probable that the
relevant economic benefits will flow in and the cost can be measured reliably; otherwise it is recognized in the profit or loss of the
current period when being incurred.The Company uses the cost model to measure existing investment property. For investment property measured using the cost model -
buildings held for rental the same depreciation policy as that for the Company’s fixed assets is adopted and for land use rights held
for rental the same amortization policy as that for intangible assets is applied.
21. Fixed assets
(1) Conditions for recognition
1. Recognition and initial measurement of fixed assets
Fixed assets are tangible assets held for the production of goods the rendering of services lease or operation and management with
a useful life exceeding one accounting year. Fixed assets are recognized when the following conditions are met:
(1) There is a high potential that the economic benefits associated with the fixed asset will flow to the enterprise;
(2) The cost of the fixed assets can be measured reliably.
Fixed assets are initially measured at cost (taking into account the impact of estimated disposal expenses).Subsequent expenditures related to fixed assets are included in the cost of fixed assets when it is probable that the economic benefits
associated with them will flow in and their costs can be measured reliably; for the parts replaced their carrying values are derecognized;
all other subsequent expenditures are recognized in profit or loss for the current period as incurred.
2. Depreciation method
Depreciation of fixed assets is provided using the straight-line method by category. Depreciation rates are determined based on the
category of fixed assets estimated useful lives and estimated net residual value rates. For fixed assets for which impairment provisions
have been recognized depreciation in future periods is determined based on the carrying value after deducting the impairment
provisions and the remaining useful lives. If the various components of fixed assets have different useful lives or provide economic
benefits to the enterprise in different ways different depreciation rates or depreciation methods are selected and depreciation is
provided separately.The depreciation methods useful lives residual value rates and annual depreciation rates for various categories of fixed assets are as
follows:
(2) Depreciation method
Annual deprecation
Category Depreciation method Useful life Residual value rate (%)
rate (%)
Buildings and Straight-line
10-5001101.80-9.00
structures depreciation method
Machinery and Straight-line
3-1500.011106-33.33
equipment depreciation method
Auxiliary equipment Straight-line
5-10109-18
for production depreciation method
Transportation Straight-line
3-511018-33
equipment depreciation method
203Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Straight-line
Mold equipment 3-10 10 9-30
depreciation method
Straight-line
Office equipment 3-5 0 0.01 1 10 18-33.33
depreciation method
Straight-line
Computer equipment 3-10 0 0.01 1 10 10-33.33
depreciation method
Straight-line
Other equipment 3-15 0 0.01 1 10 6-33.33
depreciation method
Land (Note 1) Others
Note 1: This refers to land ownership obtained by certain overseas subsidiaries for which no depreciation is required.
(3) Disposal of fixed assets
A fixed asset is derecognized when it is disposed of or it is expected that no economic benefit can be generated by using or disposing
of it. The amount of the disposal income of sales transfer scrap or damage of the fixed asset after deducting the carrying value and
related taxes is included in the current profit or loss.
22. Construction in progress
Construction in progress is measured at the actual costs incurred. Actual costs include construction costs installation costs borrowing
costs eligible for capitalization and other necessary expenditures incurred to bring the construction in progress to its intended usable
condition. When construction in progress reaches its intended usable condition it is transferred to fixed assets and depreciation begins
to be provided from the following month. The standards and time point for carrying forward the Company’s construction in progress
to fixed assets are as follows:
Category Standards and time point for carrying forward them to fixed assets
(1) The main construction works and supporting works have been substantially completed;
(2) Upon meeting the intended design requirements the construction project has been
inspected and accepted by the survey design construction supervision and other relevant
entities;
Buildings and structures (3) It has been inspected and accepted by external departments such as fire department land
and resources and planning; (4) Where the construction project has reached the intended
usable state but the final project settlement has not yet been completed it shall be
transferred to fixed assets at estimated value based on the actual project cost from the date it
reaches the intended usable state.
(1) The relevant equipment and other supporting facilities have been fully installed; (2) The
Machinery and equipment equipment after commissioning can maintain normal and stable operation for a period of
requiring installation and time; (3) The production equipment can stably produce qualified products for a period of
commissioning time; (4) The equipment has been inspected and accepted by asset management personnel
and users.
23. Borrowing costs
1. Recognition principles for the capitalization of borrowing costs
The borrowing costs incurred by the Company which could be directly attributed to the acquisition construction or production of
assets eligible for capitalization are capitalized and included in the cost of relevant assets; other borrowing costs recognized as expenses
according to the amount incurred are included in the profit or loss of the current period.Assets eligible for capitalization refer to assets such as fixed assets investment properties and inventories that require a long period
for their acquisition or production activities to reach the expected usable or salable status.
2. Period of capitalization of borrowing costs
Capitalization period refers to the period from the time when the capitalization of borrowing costs starts to the time when the
capitalization is stopped excluding the period during which the capitalization of borrowing costs is suspended.
204Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Borrowing costs only start the capitalization when meeting the following conditions:
(1) Asset expenditures have been incurred including expenditures in the form of cash payments transfers of non-cash assets or
assumption of interest-bearing debts for the acquisition construction or production of assets eligible for capitalization;
(2) The borrowing costs had been incurred;
(3) The necessary acquisition construction or production activities to make the assets reached the expected available or marketable
state had begun.When the assets with the acquisition construction or production eligible for capitalization reached the expected usable or salable status
the borrowing costs stop capitalization.
3. Period for suspension of capitalization
If the assets eligible for capitalization experience abnormal interruptions during their acquisition construction or production process
and the interruption lasts continuously for more than three months then the borrowing costs are suspended for capitalization. If such
interruption is a necessary procedure for bringing the asset eligible for capitalization under acquisition construction or production to
its intended usable state or salable state borrowing costs continue to be capitalized. The borrowing costs incurred during the
interruption period are recognized as the profit or loss of the current period and the borrowing costs continue to be capitalized until
the restart of the assets’ acquisition construction or production.
4. Capitalization rate of borrowing costs and calculation method of capitalized amount
For specific borrowings obtained for the acquisition construction or production of assets eligible for capitalization the amount of
borrowing costs to be capitalized is determined based on the actual borrowing costs incurred in the current period for the specific
borrowings less interest income earned from depositing unused borrowed funds in banks or investment income earned from temporary
investments.For general borrowings employed for the acquisition construction or production of assets eligible for capitalization the amount of
borrowing costs for capitalization from general borrowings is calculated and determined through the weighted average of asset
expenditures of accumulated asset expenditures over special borrowings multiplied by the capitalization rate of the occupied general
borrowings. The capitalization rate is calculated and determined based on the weighted average effective interest rate of general
borrowings.During the capitalization period the exchange differences between the principal and interest of special borrowings in foreign currencies
are capitalized and included in the cost of assets eligible for capitalization. The exchange differences arising from the principal and
interest of other borrowings in foreign currencies other than the special borrowings in foreign currencies are included in the profit or
loss of the current period.
24. Biological assets
25. Oil and gas assets
26. Intangible assets
(1) Useful life and its determination basis estimation amortization method or review procedure
1. Pricing methods of intangible assets
(1) Intangible assets are initially measured at cost when acquired by the Company;
The cost of an externally acquired intangible asset includes the purchase price related taxes and other expenses directly attributable to
bringing the asset to its intended use.
(2) Subsequent measurement
The Company analyzes and determines the useful life of an intangible asset when it is acquired.Intangible assets with finite useful lives are amortized over the period during which they are expected to generate economic benefits
for the enterprise; intangible assets for which the period during which they are expected to generate economic benefits for the enterprise
cannot be foreseen are regarded as intangible assets with indefinite useful lives and are not amortized.
2. Estimated useful lives of intangible assets with finite useful lives
Amortization Residual value rate
Item Estimated useful life (years) Basis
method (%)
Software 2-10 Straight-line method None Expected benefit period
205Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Amortization Residual value rate
Item Estimated useful life (years) Basis
method (%)
Land use rights 40-70 Straight-line method None Land use right certificate
Patent rights 2-15 Straight-line method None Legal term
Non-patent 2-15 Straight-line method
None Expected benefit period
technology
Non-patent Straight-line method
2-15 None Expected benefit period
technology
Development Straight-line method
2-15 None Expected benefit period
expenditure
Customer resources 2-23 Straight-line method None Expected benefit period
Others 2-18 Straight-line method None Expected benefit period
3. Basis for determining intangible assets with indefinite useful lives and the procedures for reviewing their useful lives
At the end of each Reporting Period the useful lives of intangible assets with indefinite useful lives are reviewed.
(2) The scope of R&D expenditure collection and the related accounting treatment method
1. The scope of R&D expenditure collection
Expenditures incurred by the Company in the course of R&D include employee benefits related to personnel engaged in R&D activities
materials consumed related depreciation and amortization expenses utilities and other related expenditures.
2. Specific criteria for dividing the research phase and the development phase
The Company classified the expenditure on an internal R&D project into expenditure on the research phase and expenditure on the
development phase.Research phase: It refers to the phase of original planned investigations and research activities conducted to acquire and understand
new scientific or technical knowledge.Development phase: It refers to the stage of an activity which applies research achievements or other knowledge to a certain plan or
design to produce new or materially improved materials equipment and products before commercial production or use.
3. Specific conditions for the capitalization of expenditures in the development phase
The expenditures in the research phase are recorded into the profit or loss for the current period when incurred. Expenditures incurred
during the development phase are recognized as intangible assets when all the following conditions are met; expenditures incurred
during the development phase that do not meet the following conditions are recognized in the profit or loss of the current period:
(1) The completion of the intangible asset is technically feasible so that it can be used or sold;
(2) The intention to complete the intangible asset and use or sell it;
(3) The manner in which the intangible asset generates economic benefits including demonstrating the existence of a market for the
products produced using the intangible asset or for the intangible asset itself; where the intangible asset will be used internally
demonstrating its usefulness;
(4) Sufficient technical financial and other resources are available to support the completion of the development of the intangible
asset and the Company has the ability to use or sell the intangible asset;
(5) Expenditures attributable to the development phase of the intangible asset can be measured reliably.
If it is impossible to distinguish between expenditures in the research phase and expenditures in the development phase all R&D
expenditures incurred are included in the profit or loss for the current period.
206Luxshare Precision Industry Co. Ltd. 2025 Annual Report
27. Impairment of long-term assets
Long-term assets such as long-term equity investments investment property measured using the cost model fixed assets construction
in progress right-of-use assets intangible assets with finite useful lives and oil and gas assets are subject to impairment tests when
there is any indication of impairment on the balance sheet date. If the impairment test results indicate that the recoverable amount of
the asset is lower than the carrying value the provision for impairment is made at the difference and included in the impairment loss.The recoverable amount is the higher of the fair value of the asset minus the disposal cost and the present value of the expected future
cash flows of the asset. The provision for impairment of assets is calculated and recognized on the basis of separate assets. If it is
difficult to estimate the recoverable amount of separate assets the recoverable amount of the asset group is recognized by the asset
group to which the asset belongs. The asset group is the smallest combination of assets that can generate cash inflows independently.For goodwill arising from business combinations intangible assets with indefinite useful lives and intangible assets not yet ready for
intended use impairment test is conducted at least at the end of each year regardless of whether there is any indication of impairment.The Company conducts impairment test for goodwill. For the carrying value of goodwill arising from a business combination from
the acquisition date it is allocated to the relevant asset groups using a reasonable method; if it is difficult to allocate it to the relevant
asset groups it is allocated to the relevant asset group combinations. Relevant asset group or asset group combination is an asset group
or asset group combination that can benefit from the synergy effect of business combination.When the impairment test is conducted on the asset group or asset group combination containing goodwill if there is any sign of
impairment in the asset group or asset group combination related to goodwill the impairment test is firstly conducted on the asset
group or asset group combination not containing goodwill and the recoverable amount is calculated to recognize the corresponding
impairment loss by comparing with the relevant carrying value. The impairment test is then conducted on the asset group or asset group
combination containing goodwill by comparing the carrying value with the recoverable amount. If the recoverable amount is lower
than the carrying value the amount of impairment loss is first used to offset the carrying value of goodwill allocated to the asset group
or asset group combination and then is used to reduce the carrying values of other assets in the asset group or asset group combination
other than goodwill on a pro rata basis according to the proportion of the carrying value of each such asset.Once the aforementioned impairment losses on assets are recognized they shall not be reversed in subsequent accounting periods.
28. Long-term deferred and prepaid expenses
Long-term deferred and prepaid expenses are various expenses that have already been incurred but should be borne by the current
period and subsequent periods with an amortization period of more than one year.The amortization term and methods for various expenses are as follows:
Item Amortization method Amortization term
Housing renovation expenses Straight-line method Within the beneficial period
Leasehold improvements Straight-line method Within the beneficial period
Others Straight-line method Within the beneficial period
29. Contract liabilities
The Company presents contract assets or contract liabilities in the balance sheet based on the relationship between its performance
obligations and customers’ payments. The Company presents the obligation of transferring goods to or providing services for customers
for consideration received or receivable as a contract liability. Contract assets and contract liabilities under the same contract are
presented at a net amount.
30. Employee benefits
(1) Accounting treatment method of short-term compensation
Within the accounting period when its employees provide service the Company recognized actual short-term remuneration as liabilities
and included them in the profit or loss of the current period or relevant asset costs.The employee benefits in the accounting period in which the employees provided services for the Company is calculated and
determined by the provision basis and ratio specified in the regulations including social insurance expenses and housing provident
fund by the Company as well as labor union expense and employee education expense withdrawn in accordance with the regulations.The employee benefits of the Company which had incurred are included in the profit or loss of the current period or the cost of relevant
assets according to the actual amount incurred of which non-monetary benefits are measured at fair value.
207Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Accounting treatment method of the welfare after departure
(1) Defined withdrawal plan
The Company pays basic endowment insurance and unemployment insurance for employees in accordance with the relevant local
regulations. During the accounting period when the employees provide services to the Company the amount to be paid is calculated
based on the payment base and proportion specified by the local regulations and recognized as liabilities to be included in the profit
or loss of the current period or relevant asset costs.
(2) Defined benefit plan
The benefit obligations arising from the defined benefit plan are attributable to the period in which the employees provide services
based on the formula determined by expected cumulative welfare unit method and included in profit or loss for the current period or
cost of relevant asset by the Company.The deficit or surplus arising from the present value of the defined benefit plan obligation less the fair value of defined benefit plan
assets is recognized as a net defined benefit plan liability or asset. Where there is a surplus in the defined benefit plan the Company
measures the net defined benefit plan asset at the lower of the surplus in the defined benefit plan and the asset ceiling.All defined benefit plan obligations including obligations expected to be paid within 12 months after the end of the annual Reporting
Period in which employees render the related services are discounted using market yields on the balance sheet date on government
bonds or high-quality corporate bonds traded in active markets with terms and currencies matching those of the defined benefit plan
obligations.Service cost arising from defined benefit plans and net interest on the net defined benefit liability or net defined benefit asset are
recognized in profit or loss of the current period or the cost of related assets; changes arising from the remeasurement of the net defined
benefit liability or net defined benefit asset are recognized in other comprehensive income and are not subsequently reclassified to
profit or loss in subsequent accounting periods. Upon the termination of the original defined benefit plan the portion previously
recognized in other comprehensive income is fully transferred to retained earnings within the scope of equity.When settling a defined benefit plan a settlement gain or loss is recognized based on the difference between the present value of the
defined benefit obligation determined on the settlement date and the settlement price.
(3) Accounting treatment method of the dismissal benefits
If the Company provided the employee with dismissal benefits the Company recognizes the employee benefit liabilities arising from
the dismissal benefits and includes them in profit or loss of the current period on the following dates (whichever is earlier): the date
when the Company cannot unilaterally withdraw dismissal benefits provided due to termination of labor relationship plans or layoff
proposals; the date when the Company recognizes costs or expenses relating to the restructure of payments of dismissal benefits.
(4) Accounting treatment method of other long-term employee benefits
The Group provides long-term paid leave benefits to eligible personnel with employment relationships including existing internally
retired personnel and non-working persons with disabilities.The accounting treatment methods for post-employment benefits. However the service cost incurred therefrom the net interest on the
net liability or net asset of other long-term employee benefits and changes arising from the remeasurement of the net liability or net
asset of other long-term employee benefits are all included in profit or loss of the current period or the cost of related assets.
31. Estimated liabilities
The Company recognizes a provision when an obligation related to contingencies simultaneously meets the following conditions:
(1) The obligation is the current obligation assumed by the Company;
(2) The fulfillment of this obligation is likely to result in an outflow of economic benefits from the Company;
(3) The amount of the obligation can be measured reliably.
Provisions are initially measured at the best estimate of the expenditure required to settle the relevant present obligation.In determining the best estimate factors such as the risks uncertainties and the time value of money related to contingencies are taken
into comprehensive consideration. Where the impact of the time value of money is significant the best estimate is determined by
discounting the relevant future cash outflows.Where there is a continuous range for the required expenditure and each outcome within that range is equally likely to occur the best
estimate is determined based on the median of that range; in other cases the best estimate is determined as follows:
* For contingencies involving a single item they are determined based on the most likely amount to occur.* For contingencies involving multiple items they are determined by calculation based on the various possible outcomes and the related
probabilities.
208Luxshare Precision Industry Co. Ltd. 2025 Annual Report
If all or part of the expenditures required to settle a provision are expected to be reimbursed by a third party the reimbursement amount
is recognized separately as an asset when it is virtually certain that it will be received and the recognized reimbursement amount does
not exceed the carrying value of the provision.On the balance sheet date the Company reviews the carrying value of provisions. Where conclusive evidence indicates that the carrying
value cannot reflect the current best estimate the carrying value is adjusted based on the current best estimate.
32. Share-based payment
The Company’s share-based payment is the transaction made through granting equity instruments or bearing the liabilities recognized
based on such instruments in exchange for services rendered by employees or other parties. The Company’s share-based payments
include equity-settled share-based payment and cash-settled share-based payment.Equity-settled share-based payments and equity instruments
If an equity-settled share-based payment is adopted for services provided by employees it is measured at the fair value of the equity
instrument granted to employees. For share-based payment transactions that become exercisable immediately upon grant the fair value
of the equity instruments on the grant date is included in the relevant costs or expenses with a corresponding increase in capital reserve.For share-based payment transactions that become exercisable only after the completion of services during the vesting period or upon
satisfaction of specified performance conditions after grant on each balance sheet date during the vesting period the Company makes
its best estimate of the number of equity instruments expected to vest and based on the fair value on the grant date recognizes the
services received during the current period in the relevant costs or expenses with a corresponding increase in capital reserve.If the terms of the equity-settled share-based payment are modified as a minimum the services acquired are recognized as if the terms
are not modified. In addition any modification that increased the fair value of the equity instruments granted or any changes that are
beneficial to the employee on the modification date are recognized as an increase in services acquired.During the vesting period if the granted equity instruments are canceled the Company accounts for the cancellation of the granted
equity instruments as accelerated vesting and immediately recognizes in profit or loss of the current period the amount that should
otherwise have been recognized over the remaining vesting period while recognizing capital reserve. However if a new equity
instrument is granted and designated as a replacement equity instrument for the canceled one on the date of grant then granted
alternative equity instrument is treated in the same manner as the modification of the terms and conditions of the original one.
33. Other financial instruments such as preferred shares and perpetual bonds
34. Revenue
Accounting policies adopted for the recognition and measurement of revenue disclosed by type of business
Accounting policies adopted for the recognition and measurement of revenue disclosed by type of business
The Company recognizes revenue when it fulfills its performance obligations in the contract i.e. when the customer obtains control
of relevant goods or services. Obtaining control of relevant goods or services means being able to direct the use of them and obtain
substantially all economic benefits from them.Where the contract contains two or more performance obligations the Company at the inception date of the contract allocates the
transaction price to each performance obligation in accordance with the relative proportion of the stand-alone selling price of the goods
or services promised by each performance obligation. The Company measures revenue on the basis of the transaction price allocated
to each performance obligation.Transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or
services to a customer excluding amounts collected on behalf of third parties and amounts expected to be returned to the customer.The Company determines the transaction price in accordance with the terms of the contract with past business practices taken into
account. When determining the transaction price it considers the impact of variable consideration the existence of a significant
financing component in the contract non-cash consideration consideration payable to a customer and other factors. The transaction
price is recognized only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized
will not occur when the relevant uncertainty is resolved. Where a contract contains a significant financing component the Company
determines the transaction price on the basis of the amount presumably payable in cash when the customer obtains control of the goods
or services and uses the actual interest method to amortize the difference between the transaction price and the contract consideration
during the contract period.If one of the following conditions is met it is an obligation performed within a certain period of time; otherwise it is treated as
performed at a point in time:
* The customer simultaneously receives and consumes the economic benefits provided by the Company’s performance as the Company
performs.* The customer is able to control the goods as they are created during the Company’s performance.* The goods produced by the Company in the course of performance have no alternative use and the Company has the right throughout
the contract period to collect payment for the portion of performance completed to date.
209Luxshare Precision Industry Co. Ltd. 2025 Annual Report
For performance obligations performed within a certain period the Company recognizes revenue according to the performance progress
within that period except that the performance progress cannot be reasonably determined. In determining the progress of performance
the Company takes into account the nature of the goods or services and adopts the output methods or the input methods. Where the
performance progress cannot be reasonably determined and the costs incurred are expected to be recovered the Company recognizes
revenue according to the amount of the costs incurred until the progress can be reasonably determined.For the performance obligation performed at a point of time revenue is recognized at the point of time when the customer acquires the
control of relevant goods or services. When judging whether the customer has obtained control of goods or services the Company
considers the following indicators:
* The Company has a present right to payment for the good or service that is the customer has a present obligation to pay for the good
or service.* The Company has transferred the legal title of the goods to the customer that is the customer has obtained the legal title of the goods.* The Company has transferred physical goods to the customer that is the customer has taken physical possession of the goods.* The Company has transferred the principal risks and rewards of ownership of the goods to the customer that is the customer has
obtained the principal risks and rewards of ownership of the goods.* The customer has accepted the goods or services etc.The Company determines whether the Company’s status is that of a principal or agent when engaging in a transaction based on whether
it has control over the goods or services prior to transferring them to the customer. If the Company is able to control the goods or
services before transferring them to the customer the Company is the principal and recognizes revenue based on the total consideration
received or receivable. Otherwise the Company recognizes revenue as an agent based on the amount of commissions or fees to which
it is expected to be entitled.Differences in methods for the recognition and measurement of revenue caused by different business models for the same type of
business
The Company organizes production based on sales contracts signed with customers or orders placed by customers. Due to differences
in customers’ geographic locations and inventory management methods the following models are distinguished:
(1) General sales model
For domestic sales the Company ships products to the delivery location designated by customers and recognizes revenue upon
customers’ receipt and acceptance; for overseas sales the delivery of goods is distinguished based on different trade terms with the
transfer of control as the point in time for revenue recognition.
(2) Supplier-managed inventory model
Under this model the Company delivers products to designated warehouses and customers pick up and use the products from the
warehouses. The transfer of control is recognized as the point of revenue recognition.
(3) Revenue recognized by timing
For products customized for specific customers with no alternative use and for which the Company has an enforceable right to payment
for performance completed to date the Company recognizes revenue over time based on the progress toward complete satisfaction of
the performance obligation and the progress is measured using the cost method.
35. Contract costs
Contract costs include contract fulfillment costs and contract acquisition costs.If the costs incurred by the Company to fulfill a contract do not fall within the scope of the relevant standards governing inventories
fixed assets or intangible assets they are recognized as an asset as costs to fulfill a contract when the following conditions are met:
* The cost relates directly to a current or anticipated contract.* The cost increases the resources of the Company that will be used in the future to satisfy performance obligations.* The cost is expected to be recoverable.If the incremental cost incurred by the Company’s acquisition of the contract is expected to be recovered it is recognized as an asset
in the form of contract acquisition cost.The asset relevant to contract cost is amortized on the same basis as goods or service revenue recognition relevant to this asset; but if
the amortization period of the contract acquisition cost is no more than one year the Company includes it into the profit or losses of
the current period when it is incurred.For assets related to contract costs if their carrying value exceeds the difference between the following two items the Company makes
a provision for impairment for the excess and recognizes it as an asset impairment loss:
210Luxshare Precision Industry Co. Ltd. 2025 Annual Report
1. Estimated residual consideration to be obtained from the transfer of goods or services related to the assets;
2. Estimated costs incurred from the transfer of the relevant goods or services.
If the above-mentioned difference is higher than the carrying value of the asset due to the subsequent changes in factors of impairment
in the previous period the Company reverses the provision for impairment that has been accrued and includes the difference in the
profit or loss of the current period but the carrying value of the reversed asset does not exceed the carrying value of the asset on the
reversal date assumed to be the amount without accrual of provision for assets impairment.
36. Government grants
1. Type
Government grants are monetary or non-monetary assets obtained by the Company from the government for free and are classified
into asset-related government grants and income-related government grants.Asset-related government grants refer to the government grants obtained by the Company for acquisition and construction or to form
long-term assets in other forms. Income-related government grants refer to the government grants other than asset-related government
grants.The specific criterion used by the Company to classify government grants as asset-related is government grants obtained by an
enterprise for the acquisition construction or other forms of long-term asset formation.The specific criterion used by the Company to classify government grants as income-related is government grants other than those
related to assets.For government grants for which the recipient is not explicitly specified in government documents the basis on which the Company
determines whether such government grants are related to assets or related to income is whether they are used for the acquisition
construction or otherwise formation of long-term assets
2. Recognition timing
The Company recognizes the government grants only when it meets the conditions attaching to the grants and it is received.
3. Accounting treatment
Government grants related to assets are offset against the carrying value of the related assets or recognized as deferred income. Those
recognized as deferred income are amortized into profit or loss of the current period over the useful lives of the related assets using a
reasonable and systematic method (those related to the Company’s ordinary activities are included in other income; those unrelated to
the Company’s ordinary activities are included in non-operating revenue);
For government grants related to income those used to compensate the Company for related costs expenses or losses in subsequent
periods are recognized as deferred income and during the periods in which the related costs expenses or losses are recognized are
included in profit or loss of the current period (those related to the Company’s ordinary activities are included in other income; those
unrelated to the Company’s ordinary activities are included in non-operating revenue) or offset against related costs expenses or losses;
those used to compensate the Company for related costs expenses or losses already incurred are directly included in profit or loss of
the current period (those related to the Company’s ordinary activities are included in other income; those unrelated to the Company’s
ordinary activities are included in non-operating revenue) or offset against related costs expenses or losses.The interest subsidy on policy prime loans obtained by the Company are accounted for in the following two conditions:
(1) If the finance authority allocates the funds of interest subsidies to the lending bank and the lending bank provides loans to the
Company at a policy prime interest rate the actual loan amount received by the Company is recognized as the carrying amount of the
loan and the relevant borrowing costs is calculated in accordance with the loan principal and the policy prime interest rate.
(2) If the finance authority allocates the funds of interest subsidies to the Company directly the Company reduces the corresponding
interest subsidies against relevant borrowing costs.
37. Deferred income tax assets/deferred income tax liabilities
Income tax includes current income tax and deferred income tax. Except for income tax arising from business combinations and
transactions or events directly recognized in owners’ equity (including other comprehensive income) the Company recognizes current
income tax and deferred income tax in profit or loss of the current period.Deferred income tax assets and deferred income tax liabilities are recognized based on the differences (temporary differences) between
the tax bases of assets and liabilities and their carrying value.For deductible temporary differences deferred income tax assets are recognized only to the extent that it is probable that taxable income
will be available in future periods against which the deductible temporary differences can be utilized. For deductible losses and tax
credits that can be carried forward to subsequent years the corresponding deferred income tax assets are recognized only to the extent
that it is probable that future taxable income will be available against which the deductible losses and tax credits can be utilized.
211Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Deferred income tax liabilities are recognized for taxable temporary differences except in special circumstances.Special circumstances in which deferred income tax assets or deferred income tax liabilities are not recognized include:
* Initial recognition of goodwill;
* Transactions or events that are neither business combinations nor at the time of occurrence affect accounting profit or taxable income
(or deductible losses) and for which the initial recognition of the related assets and liabilities does not give rise to equal amounts of
taxable temporary differences and deductible temporary differences.Deferred income tax liabilities are recognized for taxable temporary differences related to investments in subsidiaries associates and
joint ventures except where the Company is able to control the timing of the reversal of the temporary difference and it is probable
that the temporary difference will not reverse in the foreseeable future. Deferred income tax assets are recognized for deductible
temporary differences related to investments in subsidiaries associates and joint ventures when it is probable that the temporary
difference will reverse in the foreseeable future and that taxable income will be available in the future against which the deductible
temporary difference can be utilized.On the balance sheet date deferred income tax assets and deferred income tax liabilities are measured in accordance with the provisions
of tax laws at the applicable tax rates expected to apply in the period when the relevant assets are recovered or the relevant liabilities
are settled.The carrying value of deferred income tax assets is reviewed by the Company on each balance sheet date. If it is probable that sufficient
taxable income will not be available in future periods to offset the benefits of deferred income tax assets the carrying value of the
deferred income tax assets is reduced. Any such write-down should be subsequently reversed where it becomes probable that sufficient
income tax payable will be available.When the Company has the legal right to settle on a net basis and intends to settle on a net basis or to acquire assets and settle liabilities
simultaneously the current income tax assets and current income tax liabilities are listed and reported on a net basis after offsetting.On the balance sheet date deferred income tax assets and deferred income tax liabilities are presented as the net amount after offsetting
when the following conditions are met at the same time:
* The taxable entity has a legally enforceable right to settle current income tax assets and current income tax liabilities on a net basis;
* Deferred income tax assets and deferred income tax liabilities relate to income taxes levied by the same tax authority on the same
taxable entity or relate to different taxable entities but in each future period in which deferred tax assets and liabilities of significance
are reversed the taxable entities involved intend to settle current income tax assets and liabilities on a net basis or to realize the assets
and settle the liabilities simultaneously.
38. Leases
(1) Accounting treatment method for leases as the lessee
(1) Right-of-use assets
The Company recognizes leases other than short-term leases and leases of low-value assets as right-of-use assets on the start date of
the lease term. Right-of-use assets are initially measured at cost. The cost includes:
1. Initial measurement amount of lease liabilities;
2. If a lease incentive exists for lease payments made on the start date of the lease term the amount related to the lease incentive already
taken is deducted;
3. Initial direct costs incurred by the Company;
4. Costs expected to be incurred by the Company for dismantling and removing the leased asset(s) restoring the premises where the
leased asset(s) is/are located or restoring the leased asset(s) to the status agreed in the leasing clauses (excluding costs incurred for
inventory production)
Subsequently the Company depreciates the right-of-use assets using the straight-line method. Where it can be reasonably certain that
the Company will obtain ownership of the leased assets at the expiry of the lease term the leased assets are depreciated over the
expected residual service life; where it cannot be reasonably certain that the Company will obtain ownership of the leased assets at the
end of the lease term the leased assets are depreciated at the shorter of the lease term and the residual service life of the leased assets.The Company determines whether right-of-use assets are impaired in accordance with the principles described in Note “III (20)Impairment of long-term assets” hereof and accounts for the identified impairment losses accordingly.
(2) Lease liabilities
The Company recognizes leases other than short-term leases and leases of low-value assets as lease liabilities on the start date of the
lease term. Lease liabilities are initially measured at the present value of outstanding lease payments. Lease payments include:
1. Fixed payments (including actual fixed payments and if a lease incentive exists deduct the amount related to the lease incentive);
212Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Variable lease payments that depend on indexation or ratio;
3. The estimated amount payable based on the secured residual value provided by the lessee;
4. The exercise price of the purchase option provided that the Company is reasonably certain that the option will be exercised;
5. Payments required to be made for exercising the option to terminate the lease if the lease term reflects that the Company will exercise
such an option.The Company uses the interest rate implicit in lease as the discount rate. If the interest rate implicit in lease cannot be reasonably
determined the Company’s incremental borrowing rate is used as the discount rate.The Company calculates the interest expenses of lease liabilities for each period within the lease term at a fixed periodic rate of return
and recognizes them as current profit or loss or cost of the related assets.Variable lease payments not included in the measurement of the lease liability are recognized as current profit or loss or cost of the
related assets as they are incurred.Under the following circumstances after the start date of the lease term the Company remeasures lease liabilities and adjusts the
corresponding right-of-use asset and if the carrying value of the right-of-use asset has been reduced to zero but the lease liability is
subject to further reduction recognizes the difference as current profit or loss:
When there is a change in the assessment results of the acquisition option lease renewal option or termination option or the actual
exercise of the aforementioned options is inconsistent with the original assessment results the Company calculates the present value
based on the changed lease payment amount and the revised discount rate to remeasure the lease liabilities;
When there is a change in the actual fixed payment the estimated payable of the residual value of the guarantee the index or rate used
to confirm the lease payment the Company calculates the present value based on the changed lease payment amount and the original
discount rate to remeasure the lease liabilities. However where changes in lease payments arise from changes in floating interest rates
a revised discount rate is used to calculate the present value.
(3) Short-term leases and low-value asset leases
The Company chooses not to confirm the right-of-use assets and lease obligations of the short-term and low-value asset leases and
recognizes the relevant lease payment in each period in the lease term as current profit or loss or underlying asset cost on a straight-
line basis. A short-term lease refers to a lease whose lease term does not exceed 12 months from the start date thereof typically not
involving the purchase option. A low-value asset lease refers to a lease where the value is low and a single leased asset is a new asset.The Company treats a lease where the value is no higher than RMB40000 and a single leased asset is a new asset as a low-value asset
lease. Where the Company subleases or expects to sublease the leased asset the original lease is not treated as a low-value asset lease.
(4) Lease change
When the lease changes and the following conditions are met the Company treats the lease change as a separate lease for accounting
treatment:
1. The lease change expands the scope of lease through the increase of one or several rights to use the lease assets;
2. The increased consideration and the separate price of the expanded part of the scope of lease are the same upon adjustment according
to the contract.Where the lease change is not treated as a separate lease for accounting treatment on the effective date of the lease change by the
Company the consideration of the contract is amortized again upon change the lease term is redetermined and the lease liabilities are
remeasured according to the present value that is calculated by the lease payments and the revised discount rate upon change.If the lease change results in a reduction in the scope of the lease or a shortening of the lease period the Company accordingly reduces
the carrying value of the right-of-use assets and recognizes the gains or losses arising from partial or complete termination of the lease
as current profit or loss. If other lease changes result in the remeasurement of lease liabilities the Company adjusts the carrying value
of the right-of-use assets accordingly.
(2) Accounting treatment method of leases as the lessor
The Company classifies leases as either finance leases or operating leases on the start date of the lease term. A finance lease refers to
the lease where almost all the risks and remuneration related to the ownership of the leased assets are transferred no matter whether
the ownership is finally transferred or not. An operating lease refers to all leases other than finance leases. When the Company acts as
an intermediate lessor in a sublease it classifies the sublease based on the right-of-use asset arising from the original lease.
(1) Accounting treatment of operating leases
The lease receivables from operating leases are recognized as rental income in line with the straight-line method during the lease term.The Company capitalizes the initial direct costs related to operating leases and within the lease term apportions and recognizes such
costs as current profit or loss on the same basis as rental income recognition. Variable lease payments not included in lease receivables
are recognized as current profit or loss as they are incurred. Where an operating lease changes the Company accounts for it as a new
213Luxshare Precision Industry Co. Ltd. 2025 Annual Report
lease from the effective date of the change and the amount of lease receipts received in advance or receivable related to the lease before
the change is treated as the amount of receipts from the new lease.
(2) Accounting treatment of finance leases
The Company recognizes the receivables from a finance lease and derecognizes the assets thereof on the start date of the lease term.The receivables of the finance lease are initially measured at an amount equal to the net investment in the lease. The net investment in
lease is the sum of the present values of the unguaranteed residual value and the unpaid lease receivables on the start date of the lease
term discounted at the lease’s implicit interest rate.The Company calculates and recognizes interest income at a fixed periodic interest rate in each period in the lease term. Derecognition
and impairment of finance lease receivables are accounted for in accordance with Note “V. (11) Financial instruments” hereof.Variable lease payments not included in the measurement of the net investment in the lease are recognized as current profit or loss as
they are incurred.When the lease changes and the following conditions are met the Company treats the lease change as a separate lease for accounting
treatment:
The lease change expands the scope of lease through the increase of one or several rights to use the lease assets;
The increased consideration and the separate price of the expanded part of the scope of lease are the same upon adjustment according
to the contract.For a lease change that is not accounted for as a separate lease the Company accounts for it separately under the following
circumstances:
If the change takes effect on the start date of the lease term and the lease will be classified as an operating lease the Company accounts
for it as a new lease from the effective date of the change using the net investment in the lease immediately before the effective date
of the change as the carrying value of the leased asset;
If the change takes effect on the start date of the lease term and the lease will be classified as a finance lease the Company accounts
for it in accordance with the policy on modification or renegotiation of contracts set out in Note “V. (11) Financial instruments” hereof.
1. Sale-and-leaseback transactions
The Company assesses and determines whether the transfer of assets in a sale-and-leaseback transaction constitutes a sale in accordance
with the principles described in Note “V. (31) Revenue” hereof.
(1) As the lessee
When the transfer of assets in the sale-and-leaseback transaction constitutes a sale the Company as the lessee measures the right-of-
use asset arising from the transaction at the proportion of the previous carrying value of the asset that relates to the right of use retained
through leaseback and recognizes the relevant gains or losses at the amount that relates to the rights transferred to the lessor.After the start date of the lease term the subsequent measurement of right-of-use assets and lease liabilities as well as lease changes
are detailed in Note “V. (XXXV) Leases - 1. The Company as lessee” hereof. In the subsequent measurement of the lease liability
arising from a sale-and-leaseback transaction the Company determines lease payments or revised lease payments in a manner that will
not result in the recognition of any gain or loss relating to the right of use retained through the leaseback.When the transfer of assets in the sale-and-leaseback transaction does not constitute a sale the Company as the lessee continues to
recognize the transferred assets as well as a financial liability equal to the transfer income. Details of accounting treatment of financial
liabilities are set out in Note “V. (XI) Financial instruments” hereof.
(2) As the lessor
If the transfer of assets in a sale-and-leaseback transaction constitutes a sale the Company as the lessor accounts for the purchase ofthe assets and also accounts for the lease of the assets in accordance with the policy set out in the preceding “2. The Company aslessor”; if the transfer of assets does not constitute a sale the Company as the lessor does not recognize the transferred assets butrecognizes a financial asset equal to the transfer income. Details of accounting treatment of financial assets are set out in Note “V. (XI)Financial instruments” hereof.
39. Hedge accounting
1. Classification of hedging
(1) Fair value hedge refers to a hedge against the risk of changes in the fair value of a recognized asset or liability or an unrecognized
firm commitment (excluding foreign exchange risk).
(2) A cash flow hedge refers to a hedge of the exposure to variability in cash flows. Such variability in cash flows arises from a
particular risk associated with a recognized asset or liability a highly probable forecasted transaction or the foreign exchange risk
included in an unrecognized firm commitment.
214Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(3) A hedge of a net investment in a foreign operation refers to a hedge of the foreign exchange risk arising from a net investment in a
foreign operation. A net investment in a foreign operation refers to the interest share in the net assets of the foreign operation held by
an enterprise.
2. Designation of hedging relationships and determination of hedge effectiveness
At the inception of a hedging relationship the Company formally designated the hedge and prepared formal written documentation
detailing the relationship risk management objectives and hedging strategy. Such documentation specifies the nature and quantity of
the hedging instrument the nature and quantity of the hedged item the type of hedged risk the type of hedge and the Company’s
assessment of the effectiveness of the hedging instrument. Hedge effectiveness refers to the extent to which changes in the fair value
or cash flows of the hedging instrument offset changes in the fair value or cash flows of the hedged item attributable to the hedged risk.The Company continuously assesses hedge effectiveness to determine whether the hedge meets the effectiveness requirements for
applying hedge accounting during the designated accounting period of the hedging relationship. If the requirements are not met the
application of the hedging relationship is discontinued.To apply hedge accounting the following hedge effectiveness requirements shall be met:
(1) There is an economic relationship between the hedged item and the hedging instrument;
(2) In the value changes arising from the economic relationship between the hedged item and the hedging instrument the effect of
credit risk does not dominate;
(3) An appropriate hedge ratio is adopted so that it does not create an imbalance between the relative weightings of the hedged item
and the hedging instrument thereby avoiding accounting outcomes that are inconsistent with the objectives of hedge accounting. If the
hedge ratio is no longer applicable but the risk management objectives of the hedging relationship remain unchanged the quantity of
the hedged item or the hedging instrument should be adjusted so that the hedge ratio once again meets the effectiveness requirements.
3. Accounting treatment for hedge
(1) Fair value hedge
Changes in the fair value of hedging derivatives are recognized as current profit or loss. Changes in the fair value of the hedged item
attributable to the hedged risk are recognized as current profit or loss while the carrying value of the hedged item is adjusted
accordingly.For fair value hedges related to financial instruments measured at amortized cost adjustments made to the carrying value of the hedged
item are amortized over the remaining period from the adjustment date to maturity and recognized as current profit or loss. Amortization
using the effective interest method may begin immediately after the carrying value adjustment and shall commence no later than the
adjustments made for changes in the fair value of the hedged item attributable to the hedged risk up to the termination of the hedged
item.If the hedged item is derecognized the unamortized fair value is recognized as current profit or loss.If the hedged item is an unrecognized firm commitment the cumulative change in the fair value of the firm commitment attributable
to the hedged risk is recognized as an asset or liability and the related gain or loss is recognized as current profit or loss. The change
in the fair value of the hedging instrument is also recognized as current profit or loss.
(2) Cash flow hedge
The portion of gains or losses on hedging instruments that qualifies as an effective hedge is recognized directly as other comprehensive
income while the portion that qualifies as an ineffective hedge is recognized as current profit or loss.If the hedged transaction affects current profit or loss such as when the hedged finance income or finance cost is recognized or the
forecasted sale occurs the amount recognized as other comprehensive income is reclassified as current profit or loss. If the hedged
item is a non-financial asset or a non-financial liability the amount previously recognized as other comprehensive income is reclassified
and recognized as the initial carrying amount of that non-financial asset or non-financial liability (or if previously recognized as other
comprehensive income is reclassified as current profit or loss in the same period during which that non-financial asset or non-financial
liability affects profit or loss).If the forecasted transaction or firm commitment is no longer expected to occur the cumulative gain or loss on the hedging instrument
previously recognized as other comprehensive income is reclassified and recognized as current profit or loss. If the hedging instrument
has expired been sold terminated or exercised (without replacement or rollover) or the designation of the hedging relationship has
been revoked the amount previously recognized as other comprehensive income is not reclassified until the forecasted transaction or
firm commitment affects current profit or loss.
(3) Hedge of a net investment in a foreign operation
For a hedge of a net investment in a foreign operation including a hedge of monetary items that form part of the net investment the
accounting treatment is similar to that for cash flow hedges. The portion of the gain or loss on the hedging instrument that is determined
to be an effective hedge is recognized as other comprehensive income while the ineffective portion of the hedge is recognized as
215Luxshare Precision Industry Co. Ltd. 2025 Annual Report
current profit or loss. Upon disposal of a foreign operation any cumulative gain or loss previously recognized as other comprehensive
income is reclassified as current profit or loss.
40. Segment reporting
In accordance with the internal organization structure management requirements and internal report system the Company identifies
the operating segment determines the reportable segment based on the operating segment and discloses the segment information.An operating segment is a component within the Company that simultaneously meets the following conditions: (1) it is able to generate
revenue and incur expenses in the ordinary course of activities; (2) the management of the Company is able to regularly evaluate its
operating results so as to make decisions on resource allocation and assess its performance; and (3) the Company is able to obtain its
accounting information such as its financial position operating results and cash flows. If two or more operating segments share similar
economic characteristics and meet certain requirements they can be merged into one operating segment.
41. Repurchase of shares
Shares repurchased by the Company are managed as treasury shares before cancellation or transfer. All expenses for repurchasing
shares are transferred to the cost of treasury shares. Consideration paid and transaction costs in a share repurchase reduce owners’
equity. No gain or loss is recognized on the repurchase resale or cancellation of the Company’s shares.When treasury shares are transferred the difference between the actual proceeds received and the carrying amount of the treasury
shares is credited to capital surplus. If the capital surplus is insufficient to absorb the difference surplus reserves and retained earnings
are reduced accordingly. When treasury shares are cancelled share capital is reduced by the par value of the cancelled shares. The
difference between the carrying amount of the cancelled treasury shares and their par value is deducted from capital surplus. If capital
surplus is insufficient surplus reserves and retained earnings are reduced accordingly.
42. Other significant accounting policies and accounting estimates
None.
43. Significant accounting policies and estimates
(1) Change in significant accounting policies
□Applicable □ Not applicable
Unit: RMB
Content and reasons for accounting Significantly affected item in financial
Amount affected
policy changes statements
Application of the provisions on
accounting treatments for standard
warehouse receipt trading under the None 0.00
Q&As on the Implementation of the
Financial Instruments Standard
Application of the provisions on accounting treatments for standard warehouse receipt trading under the Q&As on the
Implementation of the Financial Instruments Standard
On July 8 2025 the Ministry of Finance issued implementation Q&As on the accounting treatment of standard warehouse receipt
trading. The Q&As specify that under the standard on the recognition and measurement of financial instruments where an enterprise
frequently enters into contracts for the purchase and sale of standard warrants on a futures exchange to earn price differences without
taking delivery of the physical commodities corresponding to such standard warrants this usually indicates that the enterprise has a
practice of reselling the underlying subject matter of the contracts within a short period after receiving it in order to obtain profits from
short-term fluctuations. The enterprise shall treat the contracts for the purchase and sale of standard warrants it has entered into as
financial instruments and account for them in accordance with the standard on the recognition and measurement of financial instruments.Where an enterprise obtains standard warrants under the aforesaid contracts and resells them within a short period it shall not recognize
sales revenue but shall recognize the difference between the consideration received and the carrying value of the standard warrants
sold in investment income. Where an enterprise holds standard warrants that have not yet been sold at the end of the period such
standard warrants shall be presented as other current assets.According to the requirements of the Notice on Strictly Implementing the Accounting Standards for Business Enterprises and Effectively
Preparing 2025 Annual Reports (C.K. [2025] No. 33) where an enterprise adjusts its accounting treatment method as a result of
implementing the aforesaid requirements on standard warrants it shall adjust the information for the comparable periods in the financial
statements. The implementation of these provisions had no material impact on the Company.
216Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Significant changes in accounting estimates
□Applicable □ Not applicable
Unit: RMB
Contents of and reasons for Significantly affected item in
Effective date Amount affected
accounting estimate changes financial statements
None
The Company had no significant changes in accounting estimates during the Reporting Period.
(3) Adjustments to financial statement items at the beginning of the year of first-time adoption of the new accounting standards
in 2025
□ Applicable □Not applicable
44. Others
None.VI. Taxation
1. Main taxes and tax rates
Tax type Tax basis Tax rate
Output VAT is calculated based on the
revenue from the sale of goods and
taxable services in accordance with tax 20% 19% 18% 13% 10% 9% 8%
Value-added tax (VAT)
laws. After deducting the input tax 7% 6% 5% 3% 0%
allowed for deduction in the Reporting
Period the balance is the VAT payable.Calculated based on the actual VAT and
City maintenance & construction tax 7% 5%
consumption tax paid.
34%33%31.93%30%29.7%29.1%
29.08%27.9%25%24%22.5%22%
Corporate income tax Calculated based on the taxable income
21%20%19%18%17%16.5%
16%15.83%15%10%5%0%
Disclosure notes on the tax situation of taxpayers subject to different corporate income tax rates
Taxpayer name Income tax rate
Luxshare Precision Industry Co. Ltd. 15
Luxshare-ICT Co. Ltd. (Taiwan) 20
Luxshare ICT Inc. (United States) Note 3
Luxshare-ICT Europe Ltd. 25
Luxshare Precision Technology Co. Ltd. Note 1
Huzhou Jiuding Electronic Co. Ltd. 15
Yunding Technology Co. Ltd. Note 1
217Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
LUXSHARE-ICT (Japan) Note 2
Korea Luxshare-ICT Co. Ltd Note 4
Luxshare India Private Limited 25
Luxshare-ICT India Private Limited 25
Rf Micro Devices (Hong Kong) Co. Ltd. Note 1
Rf Micro Devices (Singapore) Co. Ltd. 17
Luxis Technology Ltd. Note 1
Luxshare Precision Investment Co. Ltd. Note 1
TIME Interconnect Technology Limited 16.5
Linkz Cables Mexico S. de RL de CV 30
Linkz International Limited 16.5
Linkz Industries (Suzhou) Limited 15
Linkz (Hong Kong) Limited 16.5
Kunshan Deqin Machinery Co. Ltd. 5
Hover (Kunshan) Electronic Material Co. Ltd. 5
Hover Manufacturing Co. Ltd. 16.5
Linkz Cables Co. Ltd. 0
TIME Interconnect Technology (Huizhou) Limited 15
TIME Interconnect America Inc. Note 3
Cosmic M.E. Inc. Note 2
TIME Interconnect Medtech UK Limited Note 6
TIME Interconnect Industrial (Hong Kong) Limited 16.5
TIME Interconnect Industrial Limited 16.5
TIME Interconnect Wire Technology Ltd. 16.5
TIME Interconnect Technology (Kunshan) Limited 15
218Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
Time X-Ware Technology Limited 16.5
Da Chuang Precision Limited 16.5
Da Chuang Investment Limited Note 1
TIME Interconnect Investment Limited 0
Luxshare Precision (M) Sdn Bhd 24
LEONI AG HDE_A 29.08
Luxshare Precision Singapore Pte. Ltd. 17
ICT Legend S de RL de C.V. 30
Cosmo Manufacturing Thailand Co. Limited 20
Cosmo Supply Limited Note 1
Cosmo Crew Limited 16.5
Cosmo International Limited 0
Cosmo Corporation Cayman Limited 0
Stellar Prosperity LLC Note 3
LEONI Kabel GmbH Germany CDE_H 29.1
TIME Interconnect Singapore Pte. Ltd. Note 5
Luxshare Precision Mexico S.A. de C.V. 30
ExcelloX Note 3
PT Wingtech Technology Indonesia 22
Luxshare Communications (Hong Kong) Co. Limited Note 1
Luxshare Precision Cayman Limited 0
Luxshare Precision Limited Note 1
SpeedTech Corp. 20
Discounted products: 5%
Luxshare Precision (Van Trung) Limited
Non-discounted products: 20%
219Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
Luxshare-ICT (Vietnam) Limited 10
Luxshare-ICT (Nghe An) Limited 0
Luxshare-ICT (Bac Ninh) Co. Ltd 20
ICT-Lanto Limited (HK) Note 1
Luxshare Precision Industry (Baoding) Co. Ltd. 15
Xuancheng Luxshare Precision Industry Co. Ltd. 15
Luxshare Precision Industry (Jiangsu) Co. Ltd. 15
Luxshare Precision Industry (Yancheng) Co. Ltd. 15
Luxshare Precision Industry (Hefei) Co. Ltd. 5
Luxshare Precision Industry (Hubei) Co. Ltd. 15
Luxshare Automotive Technology (Shanghai) Co. Ltd. 5
Lisheng Intelligent Technology (Chengdu) Co. Ltd. 5
Suining Luxshare Precision Industry Co. Ltd. 15
Bozhou Lanto Electronic Limited 15
Merry Electronics (Suzhou) Co. Ltd. 15
Beijing Luxshare Acoustics Technology Co. Ltd. 5
Shanxi Luxshare Precision Industry Co. Ltd. 15
Suzhou Lanto Electronic Co. Ltd. 5
Changzhi Luxshare Precision Industry Co. Ltd. 5
Lanto Electronic Limited 15
Yongxin County Asap Electronics Co. Ltd. 15
Jiangxi Asap Electronics Co. Ltd. 15
Xiexun Electronic (Ji’an) Co. Ltd. 15
Asap Technology (Jiangxi) Co. Ltd. 15
Jian’ou JK Wiring Systems Co. Ltd. 5
220Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
Fujian JK Wiring Systems Co. Ltd. 15
Luxshare Electronic Technology (Kunshan) Ltd. 15
Shenzhen Luxshare Acoustics Technology Ltd. 15
Slenergy Technology GmbH 31.93
Slenergy Tec Co. S.L. 25
Slenergy Technology (HK) Limited Note 1
Slenergy Technology (Meizhou) Co. Ltd. 5
Slenergy Technology (Anhui) Co. Ltd. 15
Luxshare Precision Industry (Chuzhou) Co. Ltd. 15
SuK Kunststofftechnik GmbH 15.83
Luxshare Automation (Jiangsu) Ltd. 15
Merry Electronic (Huizhou) Co. Ltd. 15
Jiangxi Luxshare Intelligent Manufacture Co. Ltd. 15
Luxshare Standard Limited (Hong Kong) Note 1
Luxshare Precision Industry (Enshi) Co. Ltd. 15
Luxshare ITech (Zhejiang) Co. Ltd. 15
Luxshare Precision Industry (Chuzhou) Technology Co. Ltd. 5
Suzhou Xiangcheng Luxshare Precision Metal Technology Co. Ltd. 5
Luxshare Intelligent Manufacture Technology (Changshu) Co. Ltd. 15
Dongguan Xuntao Electronic Co. Ltd. 15
Luxshare Technologies (Suzhou) Limited 15
Luxshare Technologies Limited Note 1
Luxshare Thermal Technology (Huizhou) Co. Ltd. 15
Luxshare Technologies International Inc. Note 3
Luxshare Technologies (Vietnam) Co. Ltd. 0
221Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
Luxshare Technologies Singapore Pte. Ltd. 17
Luxshare Technologies Mexico S. de. RL de CV 30
Dongguan Luxshare Technologies Co. Ltd. 15
Yancheng Luxshare Enterprise Management Service Partnership (Limited Partnership) Not applicable to partnerships
Jiashan Luxshare Enterprise Management Service Partnership (Limited Partnership) Not applicable to partnerships
Kunshan Jinhong Enterprise Management Service Partnership (Limited Partnership) Not applicable to partnerships
Kunshan Luxshare Enterprise Management Service Partnership (Limited Partnership) Not applicable to partnerships
Luxix Technology (Kunshan) Co. Ltd. 15
Casetek Singapore Pte. Ltd. 17
Luxcase Precision Technology (Vietnam) Co. Ltd. 0
Luxcase Precision Limited Note 1
Luxcase Korea Co. Ltd. Note 4
Huzhou Luxshare Precision Industry Co. Ltd. 15
Luxis Precision Intelligent Manufacturing (Kunshan) Co. Ltd. 15
Luxshare Precision Technology (Nanjing) Co. Ltd. 5
Xi'an Luxshare Information Technology Co. Ltd. 15
Wuxi Litong Information Technology Co. Ltd. 15
Shanghai Luxshare Information Technology Co. Ltd. 15
Shanghai Luxshare Electronic Technology Co. Ltd. 15
Luxshare Intelligent Electronic (Jiaxing) Co. Ltd. 5
Luxshare Supply Chain Technology (Wuxi) Co. Ltd. 5
Kunming Luxshare Technology Co. Ltd. 15
Cyber Acoustics LLC (USA) Note 3
Taihan Precision Technology Co. Ltd. 20
e-Leader Technology (Vietnam) Co. Ltd. 20
222Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
Dejinchang Investment Co. Ltd. 0
Jin’s Copper Industries Co. Ltd. 16.5
Dejinchang Optoelectronics Technology (Thailand) Co. Ltd. 20
Deshengchang New Material (Thailand) Co. Ltd. 20
DZC Optoelectronics Technology (Vietnam) Company Limited 20
Leonische Holding Inc. Note 3
LEONI Cable Inc. Note 3
LEONI Cable S.A. de C.V. 30
LEONI Cable de Chihuahua S.A. de C.V. 30
LEONI HighTemp Solutions GmbH 29.1
LKH LEONI Kabelwerk Kábelgyár Hungária Kft. 29.1
LEONI Kabel Polska sp. z o.o. 19
LEONI Kablo ve Teknolojileri Sanayi ve Ticaret Ltd. Sirketi 25
LEONI Cable Solutions RO S.R.L. 16
LEONI Cable Assemblies GmbH CDERA 29.1
LEONI Slovakia spol. s r.o. 24
LEONI Bordnetz-Systeme GmbH WDE_B 29.08
LEONI Automotive do Brasil Ltda. WBR_A 34
LWS Paraguay WPY_A 10
Leoni Kabelsysteme GmbH (formerly LKO) WDE_X 29.08
LEONI WS Arad S.R.L. Romania WRO_A 16
LEONI WS RO S.R.L. Romania WRO_R 16
TOV LEONI WS UA GmbH Ukraine WUA_U 18
LEONI WS UK. Great Britain WGB_A 25
Leoni Wiring Systems Serbia WRS_W 15
223Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
LEONI WS Egypt S.A.E. Cairo WEG_W 22.5
LEONI Wiring Systems Agadir S.A.S.U. 20
LEONI WS (Pune) Pvt. Ltd. WINPU 25
LEONI Wiring Systems Korea Inc. WKR_D Note 4
KB Kabel Beteiligungs-GmbH WDENB 29.08
LEONI WS Inc. WUS_W Note 3
LEONI WS Mexicana WMX_M 30
LEONI Wiring Systems de Durango LWSD 30
LEONI WIRING Systems Yucatan WMX_Y 30
LWS Services de Hermosillo 30
Leonische Portugal Lda. WPTGU 20
LEONI Wiring Systems Spain S.L.U. CES_F 20
LEONI Italy S.r.l. LIT_V 27.9
LEONI Wiring Systems Czech s.r.o. WCZ_A 21
LEONI Wir. Sys. Slovak. Sp. s.r.o WSK_A 24
LWS Poland WPL_A 19
LEONI WS Tunisia SARL Messadine
20
WTN_G
LEONI Wiring Systems France SA WFR_V 25
LEONI Wiring Syst. Pitesti Srl RO WRO_B 16
LEONI WS Turkey Kablo Sistemleri Limited Sirketi 25
LEONI Wiring Syst. Ain Sebaa S.A. WMA_V 20
LEONI Wiring Syst. Bouskoura S.A. WMA_B 20
LEONI Wiring Syst. Berrechid S.A. WMABV 20
LEONI Indust. Holding GmbH Germany CDER 29.08
224Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Taxpayer name Income tax rate
Leoni Cable Solutions Morocco S.A.S.U. 33
Lyntera Co. Ltd. Note 2
SpeedTech Industrial Co. Ltd. 20
ST Investment Holding Corp. 29.7
Luxshare Precision Components (Suzhou) Co. Ltd. 15
Other subsidiaries 25
2. Tax incentives
1. On December 26 2024 the Company was recognized as a high-tech enterprise by the Industry and Information Technology Bureau
of Shenzhen Municipality Shenzhen Finance Bureau and Shenzhen Tax Service State Taxation Administration and was issued High-
Tech Enterprise Certificate No. GR202444202119 valid for three years. Pursuant to the Notice of the Ministry of Finance and State
Taxation Administration on Corporate Income Tax Incentive Policies for Enterprises’ Technological Innovation and Notice of the State
Taxation Administration on Issues Concerning the Implementation of Corporate Income Tax Incentives for High-Tech Enterprises it
will pay corporate income tax for 2025 at a rate of 15%.
2. The subsidiary Xiexun Electronic (Ji’an) Co. Ltd. (hereinafter referred to as “Ji’an Xiexun”) was recognized as a high-tech enterprise
on November 22 2023 by the Science and Technology Department of Jiangxi Province Jiangxi Provincial Department of Finance
and Jiangxi Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202336001430 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
3. The subsidiary Asap Technology (Jiangxi) Co. Ltd. (hereinafter referred to as “Asap Technology”) was recognized as a high-tech
enterprise on October 29 2025 by the Science and Technology Department of Jiangxi Province Jiangxi Provincial Department of
Finance and Jiangxi Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202536000840 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
4. The subsidiary Lanto Electronic Limited (hereinafter referred to as “Lanto Kunshan”) was recognized as a high-tech enterprise on
November 6 2023 by Jiangsu Provincial Department of Science and Technology Department of Finance of Jiangsu Province and
Jiangsu Provincial Tax Service State Taxation Administration and was issued Certificate No. GR202332005205 valid for three years.Pursuant to the relevant provisions of the national corporate income tax incentive policies for high-tech enterprises it will pay corporate
income tax for 2025 at a rate of 15%.
5. The sub-subsidiary Bozhou Lanto Electronic Limited (hereinafter referred to as “Lanto Bozhou”) was recognized as a high-tech
enterprise on October 29 2024 by Anhui Provincial Department of Industry and Information Technology Anhui Provincial
Department of Finance and Anhui Provincial Tax Service State Taxation Administration and was issued Certificate No.GR202434000453 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
6. The sub-subsidiary Huzhou Jiuding Electronic Co. Ltd. (hereinafter referred to as “Huzhou Jiuding”) was recognized as a high-tech
enterprise on December 8 2023 by the Science and Technology Department of Zhejiang Province Zhejiang Provincial Department
of Finance and Zhejiang Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202333009628 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
7. The subsidiary Luxshare Automation (Jiangsu) Ltd. (hereinafter referred to as “Luxshare Automation”) was recognized as a high-
tech enterprise on November 19 2024 by Jiangsu Provincial Department of Science and Technology Department of Finance of Jiangsu
Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202432006579 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
8. The sub-subsidiary Merry Electronics (Suzhou) Co. Ltd. (hereinafter referred to as “Suzhou Merry”) was recognized as a high-tech
enterprise on November 6 2023 by Jiangsu Provincial Department of Science and Technology Department of Finance of Jiangsu
Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202332001066 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
225Luxshare Precision Industry Co. Ltd. 2025 Annual Report
9. The subsidiary Luxshare Electronic Technology (Kunshan) Ltd. (hereinafter referred to as “Kunshan Electronic”) was recognized
as a high-tech enterprise on November 9 2024 by Jiangsu Provincial Department of Science and Technology Department of Finance
of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate numbered GR202432003413 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
10. The sub-subsidiary Yongxin County Asap Electronics Co. Ltd. (hereinafter referred to as “Yongxin Asap”) was recognized as a
high-tech enterprise on December 8 2023 by the Science and Technology Department of Jiangxi Province Jiangxi Provincial
Department of Finance and Jiangxi Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate No. GR202336002349 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
11. The subsidiary Luxshare Precision Industry (Chuzhou) Co. Ltd. (hereinafter referred to as “Luxshare Chuzhou”) was recognized
as a high-tech enterprise on October 28 2025 by Anhui Provincial Department of Industry and Information Technology Anhui
Provincial Department of Finance and Anhui Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202534003151 valid for three years. Pursuant to the relevant provisions of the national corporate income
tax incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
12. The sub-subsidiary Merry Electronic (Huizhou) Co. Ltd. a subsidiary (hereinafter referred to as “Merry Huizhou”) was recognized
as a high-tech enterprise on November 28 2024 by the Department of Science and Technology of Guangdong Province Department
of Finance of Guangdong Province and Guangdong Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202444005192 valid for three years. Pursuant to the relevant provisions of the national corporate income
tax incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
13. The subsidiary Fujian JK Wiring Systems Co. Ltd. (hereinafter referred to as “Fujian JK”) was recognized as a high-tech enterprise
on December 28 2023 by the Science and Technology Department of Fujian Province Fujian Provincial Department of Finance and
Fujian Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No. GR202335000667
valid for three years. Pursuant to the corporate income tax incentive policies for high-tech enterprises it will pay corporate income tax
for 2025 at a rate of 15%.
14. The subsidiary Jiangxi Luxshare Intelligent Manufacture Co. Ltd. (hereinafter referred to as “Jiangxi Luxshare IntelligentManufacture”) was recognized as a high-tech enterprise on October 28 2024 by the Science and Technology Department of Jiangxi
Province Jiangxi Provincial Department of Finance and Jiangxi Provincial Tax Service State Taxation Administration and was issued
High-Tech Enterprise Certificate No. GR202436000547 valid for three years. Pursuant to the relevant provisions of the national
corporate income tax incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
15. The sub-subsidiary Jiangxi Asap Electronics Co. Ltd. (hereinafter referred to as “Asap Electronics”) was recognized as a high-tech
enterprise on October 28 2024 by the Science and Technology Department of Jiangxi Province Jiangxi Provincial Department of
Finance and Jiangxi Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202436000704 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
16. The sub-subsidiary Suzhou Luxshare Technology Co. Ltd. (hereinafter referred to as “Suzhou Luxshare Technology”) was
recognized as a high-tech enterprise on November 6 2024 by Jiangsu Provincial Department of Science and Technology Department
of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202432000635 valid for three years. Pursuant to the relevant provisions of the national corporate income
tax incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
17. The sub-subsidiary Suining Luxshare Precision Industry Co. Ltd. (hereinafter referred to as “Luxshare Suining”) meets the tax
reduction and exemption conditions set out in the Announcement of the Ministry of Finance State Taxation Administration and
National Development and Reform Commission on Continuing the Corporate Income Tax Policy for the Large-Scale Development of
Western China. Under this policy from January 1 2021 to December 31 2030 enterprises in encouraged industries located in western
regions are subject to corporate income tax at a reduced rate of 15%. Suining Luxshare located in Suining City Sichuan Province
applies this policy and enjoys the corresponding incentive. It has filed tax returns and will pay the corporate income tax for 2025 at a
rate of 15%. Suining Luxshare was recognized as a high-tech enterprise on November 5 2024 by the Science & Technology
Department of Sichuan Province Sichuan Provincial Finance Department and Sichuan Provincial Tax Service State Taxation
Administration and was issued High-Tech Enterprise Certificate No. GR202451000551 valid for three years.
18. The sub-subsidiary Luxshare Precision Industry (Baoding) Co. Ltd. (hereinafter referred to as “Luxshare Baoding”) was recognized
as a high-tech enterprise on October 28 2025 by Hebei Provincial Department of Science and Technology Hebei Provincial Finance
Department and Hebei Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202513000502 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
19. The sub-subsidiary Shanxi Luxshare Precision Industry Co. Ltd. (hereinafter referred to as “Luxshare Shanxi”) was recognized
as a high-tech enterprise on December 8 2025 by the Science and Technology Department of Shanxi Province Shanxi Provincial
Department of Finance and Shanxi Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate No. GR202514000382 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
226Luxshare Precision Industry Co. Ltd. 2025 Annual Report
20. The sub-subsidiary Dongguan Xuntao Electronic Co. Ltd. (hereinafter referred to as “Xuntao Dongguan”) was recognized as a
high-tech enterprise on December 22 2022 by the Department of Science and Technology of Guangdong Province Department of
Finance of Guangdong Province and Guangdong Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202244014095 valid for three years. Pursuant to the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
21. The subsidiary Laxcen Precision Intelligent Manufacturing (Kunshan) Co. Ltd. (hereinafter referred to as “Laxcen Precision”) was
recognized as a high-tech enterprise on November 6 2023 by Jiangsu Provincial Department of Science and Technology Department
of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202332000097 valid for three years. Pursuant to the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
22. The subsidiary Luxshare ITech (Zhejiang) Co. Ltd. (hereinafter referred to as “ITech Zhejiang”) was recognized as a high-tech
enterprise on December 8 2023 by the Science and Technology Department of Zhejiang Province Zhejiang Provincial Department
of Finance and Zhejiang Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202333005916 valid for three years. Pursuant to the national corporate income tax incentive policies for high-tech enterprises it
will pay corporate income tax for 2025 at a rate of 15%.
23. The subsidiary Shenzhen Luxshare Acoustics Technology Ltd. (hereinafter referred to as “Luxshare Acoustics”) was recognized
as a high-tech enterprise on December 12 2023 by the Science Technology and Innovation Commission of Shenzhen Municipality
Shenzhen Municipal Finance Bureau and Shenzhen Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate No. GR202344206957 valid for three years. Pursuant to the national corporate income tax incentive policies for high-tech
enterprises it will pay corporate income tax for 2025 at a rate of 15%.
24. The subsidiary Luxshare Precision Industry (Enshi) Co. Ltd. (hereinafter referred to as “Luxshare Enshi”) meets the tax reduction
and exemption conditions set out in the Announcement of the Ministry of Finance State Taxation Administration and National
Development and Reform Commission on Continuing the Corporate Income Tax Policy for the Large-Scale Development of Western
China. Under this policy from January 1 2021 to December 31 2030 enterprises in encouraged industries located in western regions
are subject to corporate income tax at a reduced rate of 15%. Luxshare Enshi located in Enshi Tujia and Miao Autonomous Prefecture
Hubei Province applies this policy and will pay the corporate income tax for 2025 at a rate of 15%. Luxshare Enshi was recognized
as a high-tech enterprise on December 30 2025 by the Department of Science and Technology of Hubei Province Department of
Finance of Hubei Province and Hubei Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate No. GR202542005087 valid for three years.
25. The sub-subsidiary Xuancheng Luxshare Precision Industry Co. Ltd (hereinafter referred to as “Xuancheng Luxshare”) was
recognized as a high-tech enterprise by the Department of Science and Technology of Anhui Province the Department of Finance of
Anhui Province and the Anhui Provincial Tax Service of the State Taxation Administration on November 28 2024 and was issued
High-Tech Enterprise Certificate No. GR202434005011 valid for three years. Pursuant to the relevant provisions of the national
corporate income tax incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
26. Pursuant to Amendment No. 6 to Circular 151/2014/TT/BTC dated October 10 2014 issued by the Ministry of Finance of Vietnam
the sub-subsidiary Luxshare-ICT (Vietnam) Limited (hereinafter referred to as “Luxshare-ICT Vietnam”) is eligible for an investment-
related corporate income tax incentive of two years’ exemption followed by four years at half rate for projects undertaken within
industrial zones. Specifically for Zone E it obtained confirmation from the Tax Department of B?c Giang Province via Document No.
619/CT-TTHT on February 28 2018 that it is entitled to the two-year exemption and four-year half-rate investment incentive and it
paid corporate income tax for 2024 at a rate of 10%; for Zone T/Zone U1 it obtained confirmation from the Tax Department of B?c
Giang Province via Document No. 6555/CTBGI-TTHT on November 23 2020 that it is entitled to the two-year exemption and four-
year half-rate investment incentive and it will pay corporate income tax for 2025 at a rate of 10%.
27. Pursuant to Article 14 Paragraph 1 of Decree No. 85/2007/Q?-TTg issued on June 11 2007 for the investment projects invested
by a domestic or foreign organization or individual in Dong Nam Nghi An Economic Zone the sub-subsidiary Luxshare-ICT (Nghe
An) Limited (hereinafter referred to as “Luxshare-ICT Nghe An”) enjoys a 15-year preferential corporate income tax rate of 10% from
the commencement of operations and of this period corporate income tax is fully exempt for the first four years based on taxable
income and a 50% reduction applies for the following nine years. It also obtained confirmation from the Tax Department of Nghe An
Province via Document No. 2417/CT-TTHT on July 1 2020 and will pay corporate income tax for 2025 at a rate of 0%.
28. Pursuant to Amendment No. 6 to Circular 151/2014/TT/BTC dated October 10 2014 issued by the Ministry of Finance of Vietnam
the sub-subsidiary Luxshare-ICT (Van Trung) Company Limited (hereinafter referred to as “Luxshare Van Trung”) is eligible for an
investment-related corporate income tax incentive of two years’ exemption followed by four years at half rate for projects undertaken
within industrial zones. It also obtained confirmation from the Tax Department of Bac Giang Province via Document No. 5675/CT-
TTHT on October 13 2020 and will pay corporate income tax for 2025 at a rate of 10%.On March 20 2023 it received Document No. 1534/GXN-BCT from the Industry and Commerce Department confirming the
preferential treatment for auxiliary industry products under the “four-year exemption and nine-year half-rate” policy. Under this
incentive the corporate income tax rate for 2020 2021 2023 and 2024 is 0% and for 2025 to 2032 halved at 10%.If no preferential treatment is granted the regional “two-year exemption and four-year half-rate” policy applies.
29. The sub-subsidiary TIME Interconnect Technology (Huizhou) Limited was recognized as a high-tech enterprise on December 19
2025 by the Department of Science and Technology of Guangdong Province Department of Finance of Guangdong Province and
227Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Guangdong Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202544002213 valid for three years. Pursuant to the Notice of the Ministry of Finance and State Taxation Administration on
Corporate Income Tax Incentive Policies for Enterprises’ Technological Innovation and Notice of the State Taxation Administration
on Issues Concerning the Implementation of Corporate Income Tax Incentives for High-Tech Enterprises it will pay corporate income
tax for 2025 at a rate of 15%.
30. The sub-subsidiary Linkz Industries (Suzhou) Limited was recognized as a high-tech enterprise on November 18 2025 by Jiangsu
Provincial Department of Science and Technology Department of Finance of Jiangsu Province and Jiangsu Provincial Tax Service
State Taxation Administration and was issued High-Tech Enterprise Certificate No. GR202532002901 valid for three years. Pursuant
to the Notice of the Ministry of Finance and State Taxation Administration on Corporate Income Tax Incentive Policies for Enterprises’
Technological Innovation and Notice of the State Taxation Administration on Issues Concerning the Implementation of Corporate
Income Tax Incentives for High-Tech Enterprises it will pay corporate income tax for 2025 at a rate of 15%.
31. The sub-subsidiary Luxshare Technologies (Dongguan) Co. Ltd. was recognized as a high-tech enterprise on December 22 2022
by the Department of Science and Technology of Guangdong Province Department of Finance of Guangdong Province and
Guangdong Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate No.GR202244011952 valid for three years. Pursuant to the Notice of the Ministry of Finance and State Taxation Administration on
Corporate Income Tax Incentive Policies for Enterprises’ Technological Innovation and Notice of the State Taxation Administration
on Issues Concerning the Implementation of Corporate Income Tax Incentives for High-Tech Enterprises it will pay corporate income
tax for 2025 at a rate of 15%.
32. The sub-subsidiary Luxshare Precision Industry (Jiangsu) Co. Ltd. (hereinafter referred to as “Luxshare Jiangsu”) was recognized
as a high-tech enterprise on November 6 2023 by Jiangsu Provincial Department of Science and Technology Department of Finance
of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued Certificate No.GR202332004181 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
33. The subsidiary Luxis Technology (Kunshan) Co. Ltd. (hereinafter referred to as “Laxcen Technology”) was recognized as a high-
tech enterprise on November 6 2023 by Jiangsu Provincial Department of Science and Technology Department of Finance of Jiangsu
Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued Certificate No. GR202332006405 valid
for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for high-tech enterprises it
will pay corporate income tax for 2025 at a rate of 15%.
34. The sub-subsidiary Luxshare Precision Industry (Yancheng) Co. Ltd. (hereinafter referred to as “Luxshare Yancheng”) was
recognized as a high-tech enterprise on December 16 2024 by Jiangsu Provincial Department of Science and Technology Department
of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued Certificate No.GR202432011857 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
35. The sub-subsidiary Luxshare Thermal Technology (Huizhou) Co. Ltd. (hereinafter referred to as “Luxshare Thermal”) was
recognized as a high-tech enterprise on November 28 2024 by the Department of Science and Technology of Guangdong Province
Department of Finance of Guangdong Province and Guangdong Provincial Tax Service State Taxation Administration and was issued
Certificate No. GR202444006343 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
36. Pursuant to Article 14 Paragraph 1 of Decree No. 85/2007/Q?-TTg issued on June 11 2007 for the investment projects invested
by a domestic or foreign organization or individual in Dong Nam Nghi An Economic Zone the sub-subsidiary Luxshare Technology
(Vietnam) Co. Ltd. (hereinafter referred to as “Vietnam Technology”) enjoys a 15-year preferential corporate income tax rate of 10%
from the commencement of operations and of this period corporate income tax is fully exempt for the first four years based on taxable
income and a 50% reduction applies for the following nine years. It also obtained confirmation from the Tax Department of Nghe An
Province via Document No. 2417/CT-TTHT on July 1 2020 and will pay corporate income tax for 2025 at a rate of 0%.
37. The subsidiary Luxshare Intelligent Manufacture Technology (Changshu) Co. Ltd. (hereinafter referred to as “Luxshare Changshu”)
was recognized as a high-tech enterprise on November 18 2025 by Jiangsu Provincial Department of Science and Technology
Department of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued
Certificate No. GR202532003263 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.The sub-subsidiary Shanghai Luxshare Electronic Technology Co. Ltd. (hereinafter referred to as “Shanghai Luxshare Electronic”)
was recognized as a high-tech enterprise on December 12 2023 by Shanghai Municipal Science and Technology Commission
Shanghai Municipal Finance Bureau and Shanghai Municipal Tax Service State Taxation Administration and was issued Certificate
No. GR202331003973 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies
for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
39. The sub-subsidiary Shanghai Luxshare Information Technology Co. Ltd. (hereinafter referred to as “Shanghai LuxshareInformation”) was recognized as a high-tech enterprise on December 26 2024 by Shanghai Municipal Science and Technology
Commission Shanghai Municipal Finance Bureau and Shanghai Municipal Tax Service State Taxation Administration and was
issued Certificate No. GR202431006898 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
228Luxshare Precision Industry Co. Ltd. 2025 Annual Report
40. The sub-subsidiary Wuxi Litong Information Technology Co. Ltd. (hereinafter referred to as “Wuxi Litong Information”) was
recognized as a high-tech enterprise on December 16 2024 by Jiangsu Provincial Department of Science and Technology Department
of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued Certificate No.GR202432016118 valid for three years. Pursuant to the relevant provisions of the national enterprise income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
41. The sub-subsidiary Xi’an Luxshare Information Technology Co. Ltd. (hereinafter referred to as “Xi’an Luxshare Information”)
was recognized as a high-tech enterprise on December 19 2025 by the Department of Science and Technology of Shaanxi Province
Financial Department of Shaanxi Province and Shaanxi Provincial Tax Service State Taxation Administration and was issued
Certificate No. GR202561001217 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
42. The sub-subsidiary TIME Interconnect Technology (Kunshan) Limited (hereinafter referred to as “Kunshan TIME Interconnect”)
was recognized as a high-tech enterprise on November 18 2025 by Jiangsu Provincial Department of Science and Technology
Department of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued
Certificate No. GR202532022041 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
43. The sub-subsidiary Slenergy Technology (Anhui) Co. Ltd. (hereinafter referred to as “Slenergy Anhui”) was recognized as a high-
tech enterprise on October 28 2025 by Anhui Provincial Department of Industry and Information Technology Anhui Provincial
Department of Finance and Anhui Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate No. GR202534002754 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
44. The subsidiary Huzhou Luxshare Precision Industry Co. Ltd. (hereinafter referred to as “Huzhou Luxshare”) was recognized as a
high-tech enterprise on December 19 2025 by the Economy and Information Technology Department of Zhejiang Zhejiang Provincial
Department of Finance and Zhejiang Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise
Certificate No. GR202533009251 valid for three years. Pursuant to the relevant provisions of the national corporate income tax
incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
45. The sub-subsidiary Luxshare Precision Components (Suzhou) Co. Ltd. (hereinafter referred to as “Suzhou Components”) was
recognized as a high-tech enterprise on November 18 2025 by Jiangsu Provincial Department of Science and Technology Department
of Finance of Jiangsu Province and Jiangsu Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202532003092 valid for three years. Pursuant to the relevant provisions of the national corporate income
tax incentive policies for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
46. The subsidiary Kunming Luxshare Technology Co. Ltd. (hereinafter referred to as “Luxshare Kunming”) enjoys the corporate
income tax incentives under the national large-scale development of Western China and pays corporate income tax at a tax rate of 15%
from January 1 2021 to December 30 2030.
47. The sub-subsidiary Luxshare Precision Industry (Hubei) Co. Ltd. (hereinafter referred to as “Luxshare Hubei”) was recognized as
a high-tech enterprise on December 30 2025 by the Department of Science and Technology of Hubei Province Department of Finance
of Hubei Province and Hubei Provincial Tax Service State Taxation Administration and was issued High-Tech Enterprise Certificate
No. GR202542005301 valid for three years. Pursuant to the relevant provisions of the national corporate income tax incentive policies
for high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.
48. The sub-subsidiary Dongguan Lide Precision Industry Co. Ltd. (hereinafter referred to as “Dongguan Lide”) was recognized as a
high-tech enterprise on December 11 2024 by the Department of Science and Technology of Guangdong Province Department of
Finance of Guangdong Province and Guangdong Provincial Tax Service State Taxation Administration and was issued High-Tech
Enterprise Certificate No. GR202444011533 valid for three years. Pursuant to the national corporate income tax incentive policies for
high-tech enterprises it will pay corporate income tax for 2025 at a rate of 15%.VAT:
1. On September 3 2023 the Ministry of Finance and the State Taxation Administration issued the Announcement on the Additional
VAT Deduction Policy for Advanced Manufacturing Enterprises (MOF & STA Announcement No. 43 of 2023). Advanced
manufacturing enterprises refer to general VAT taxpayers in the manufacturing industry among high-tech enterprises (including their
non-legal-person branches). From January 1 2023 to December 31 2027 advanced manufacturing enterprises are allowed to reduce
their VAT payable by an additional 5% of the deductible input tax for the period.
3. Others
Note 1: Under Hong Kong tax law Hong Kong adopts a territorial source principle meaning that profits sourced in Hong Kong are
subject to Hong Kong profits tax while profits sourced outside Hong Kong are not. Suzhou Luxshare Technology Co. Ltd. Luxshare
Standard Limited (Hong Kong) ICT-LANTO LIMITED (HK) Luxshare Precision Limited Luxshare Precision Technology Co. Ltd.Yunding Technology Co. Ltd. Luxis Technology Ltd. Luxshare Precision Investment Co. Ltd. Luxcase Precision Limited and Da
Chuang Investment Limited are not subject to Hong Kong profits tax.
229Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Hong Kong adopts a two-tiered profits tax regime under which assessable profits within HKD2 million are taxed at 8.25% and any
excess is taxed at 16.5%. Applicable companies include Rf Micro Devices (Hong Kong) Co. Ltd. Luxshare Communications (Hong
Kong) Co. Ltd. Slenergy Technology (HK) Limited Cosmo Supply Limited.Note 2: LUXSHARE-ICT (Japan) Cosmic M.E. Inc. and Lyntera Co. Ltd. have stated capital of less than JPY100 million and enjoy
a tiered tax regime. Their corporate income tax (national tax) is levied at 15% on taxable income up to JPY8 million (inclusive) and at
23.2% on any excess and local corporate tax (national tax) is levied at 10.3% of the total amount of corporate tax (national tax).
Note 3: The applicable tax rates for Luxshare ICT Inc. (United States) TIME Interconnect America Inc. Luxshare Technologies
International Inc. Stellar Prosperity LLC ExcelloX Cyber Acoustics LLC (USA) Leonische Holding Inc. LEONI Cable Inc. and
LEONI WS Inc. WUS_W are as follows:
Applicable tax rate
Income tax (federal) 21%
Local tax (state) 8.84%
Note 4: The applicable tax rates for Korea Luxshare-ICT Co. Ltd Luxcase Korea Co. Ltd. and LEONI Wiring Systems Korea Inc.WKR_D are as follows:
Total profits Corporate income tax Local tax
Below KRW200 million 10%
The portion from KRW200 million to KRW20
20%
billion
10% of corporate income tax amount
The portion from KRW20 billion to KRW300
22%
billion
The portion above KRW300 billion 25%
Note 5: The applicable tax rates for TIME Interconnect Singapore Pte. Ltd. are as follows:
A Singapore company enjoys the Start-Up Tax Exemption (SUTE) in its first three years of assessment after incorporation and
thereafter it automatically qualifies for the Partial Tax Exemption (PTE). Both are mechanisms for tax reduction.SUTE: 75% exemption on the first SGD100000 of taxable income 50% exemption on the next SGD100000 of taxable income and
full taxation at 17% on taxable income above SGD200000.PTE: 75% exemption on the first SGD10000 of taxable income 50% exemption on the next SGD190000 of taxable income and full
taxation at 17% on taxable income above SGD200000.Note 6: The applicable tax rates for TIME Interconnect Medtech UK Limited are as follows:
Profits up to GBP50000 are taxed at 19%; profits above GBP250000 are taxed at 25%.VII. Notes to Consolidated Financial Statement Items
1. Cash and cash equivalents
Unit: RMB
Item Closing balance Opening balance
Cash on hand 408456.76 397054.85
Bank deposits 58288254569.22 47209722547.17
230Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Other cash and cash equivalents 2870513554.37 1149536390.91
Total 61159176580.35 48359655992.93
Of which: Total amount deposited
34389719977.9212072659854.46
overseas
Other notes:
2. Financial assets held for trading
Unit: RMB
Item Closing balance Opening balance
Financial assets at fair value through
2842065117.621403110810.03
profit or loss
Incl.:
Derivative financial assets 71865066.32 102882710.63
Bank wealth management 2770200051.30 1300228099.40
Incl.:
Total 2842065117.62 1403110810.03
Other notes:
3. Derivative financial assets
Unit: RMB
Item Closing balance Opening balance
Hedge instruments 102963566.17 0.00
Total 102963566.17 0.00
Other notes:
4. Notes receivable
(1) Notes receivable by category
Unit: RMB
Item Closing balance Opening balance
Banker’s acceptance 251542032.26 272654650.91
Trade acceptance 270344875.80 77118864.75
Total 521886908.06 349773515.66
231Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Disclosure by the bad debt provision method
Unit: RMB
Closing balance Opening balance
Gross carrying amount Bad debt reserve Gross carrying amount Bad debt reserve
Category
Carrying Carrying
Provision amount Provision amount
Amount Percentage Amount Amount Percentage Amount
percentage percentage
Incl.:
Notes receivables
where bad debt
reserve is 522022080.50 100.00% 135172.44 0.03% 521886908.06 349915671.41 100.00% 142155.75 0.04% 349773515.66
provisioned on a
portfolio basis
Incl.:
Banker’s
251542032.2648.19%251542032.26272654650.9177.92%272654650.91
acceptance
Commercial
270480048.2451.81%135172.440.05%270344875.8077261020.5022.08%142155.750.18%77118864.75
acceptance bills
Total 522022080.50 100.00% 135172.44 0.03% 521886908.06 349915671.41 100.00% 142155.75 0.04% 349773515.66
Provision for bad debts made on a portfolio basis: 135172.44
Unit: RMB
Closing balance
Name
Gross carrying amount Bad debt reserve Provision percentage
Banker’s acceptance 251542032.26 0.00 0.00%
Commercial acceptance bills 270480048.24 135172.44 0.05%
Total 522022080.50 135172.44
Description of the basis for determining this portfolio:
If the bad debt reserve for notes receivable is provisioned on a portfolio basis using the general expected credit loss (ECL) model:
□ Applicable □Not applicable
(3) Provision for bad debts made recovered or reversed during the current period
Provision for bad debts made during the current period:
Unit: RMB
Changes during the current period
Opening
Category Closing balance
balance Recovery or
Provision Write-off Others
reversal
232Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Commercial
142155.75100398.64107381.95135172.44
acceptance bills
Total 142155.75 100398.64 107381.95 135172.44
Significant amounts of provision for bad debts recovered or reversed during the current period:
□ Applicable □Not applicable
(4) Notes receivable endorsed or discounted but not yet matured on the balance sheet date at period-end
Unit: RMB
Item Derecognized amount at period-end Non-derecognized amount at period-end
Banker’s acceptance 115946769.72
Trade acceptance 230202269.39
Total 346149039.11
5. Accounts receivable
(1) Disclosure by aging
Unit: RMB
Aging Closing gross carrying amount Opening gross carrying amount
Within 1 year (inclusive) 48600490110.04 32609451617.85
Incl.: Not past due 47051897722.69 32170748865.58
Past due 1 to 60 days 1392046090.88 401427444.54
Past due 61 to 120 days 82605573.00 29534317.27
Past due 121 to 180 days 24599438.55 3569655.75
Past due 181 to 365 days 49341284.92 4171334.71
1 to 2 years 74414827.82 38076106.26
2 to 3 years 62508073.27 623701.86
Over 3 years 42351651.91 34102707.61
3 to 4 years 8200224.59 1939995.40
4 to 5 years 528173.55 932628.29
Over 5 years 33623253.77 31230083.92
Total 48779764663.04 32682254133.58
233Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Disclosure by the bad debt provision method
Unit: RMB
Closing balance Opening balance
Gross carrying amount Bad debt reserve Gross carrying amount Bad debt reserve
Category
Carrying Carrying
Provision amount Provision amount
Amount Percentage Amount Amount Percentage Amount
percentage percentage
Accounts
receivable
with
provision
1581487.76752748767527487.9
for bad 140690856.16 0.29% 139109368.39 98.88% 0.21% 100.00%
7.922
debts made
on an
individual
basis
Incl.:
Provision
on an 1581487.7 67527487 67527487.9
140690856.160.29%139109368.3998.88%0.21%100.00%
individual 7 .92 2
basis
Accounts
receivable
with
provision
484372143261472653627729.0325610989
for bad 48639073806.88 99.71% 201859180.53 0.42% 99.79% 0.16%
626.35645.66816.58
debts made
on a
portfolio
basis
Incl.:
Aging 48437214 32614726 53627729.0 325610989
48639073806.8899.71%201859180.530.42%99.79%0.16%
combination 626.35 645.66 8 16.58
4843879632682254121155217.325610989
Total 48779764663.04 100.00% 340968548.92 0.70% 100.00% 0.37%
114.12133.580016.58
Provision for bad debts made on a portfolio basis: 201859180.53
Unit: RMB
Closing balance
Name
Gross carrying amount Bad debt reserve Provision percentage
Not past due 47041207070.30 23502086.04 0.05%
Past due for 1 to 60 days 1392046090.88 69602304.54 5.00%
Past due for 61 to 120 days 82605573.00 24781671.90 30.00%
Past due for 121 to 180 days 24539075.50 9815630.20 40.00%
234Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Past due for 181 to 365 days 36686038.02 18343019.01 50.00%
Past due over 1 year but
61754903.4355579413.0990.00%
within 2 years
Past due over 2 years 235055.75 235055.75 100.00%
Total 48639073806.88 201859180.53
Description of the basis for determining this portfolio:
If provision for bad debts of accounts receivable is made under the general expected credit loss model:
□ Applicable □Not applicable
(3) Provision for bad debts made recovered or reversed during the current period
Provision for bad debts made during the current period:
Unit: RMB
Changes during the current period
Opening
Category Closing balance
balance Recovery or
Provision Write-off Others
reversal
Accounts -
121155217.00265751403.54216742407.0777629689.54340968548.92
receivable 248434024.99
-
Total 121155217.00 265751403.54 216742407.07 77629689.54 340968548.92
248434024.99
Significant amounts of provision for bad debts recovered or reversed during the current period:
Unit: RMB
Basis for determining
Amount recovered or the original provision
Name of entity Reason for reversal Recovery method
reversed percentage and its
reasonableness
Amounts in “Others” column include RMB239981967.86 arising from the expansion of the scope of consolidation.
(4) Accounts receivable and contract assets of top 5 debtors by closing balance
Unit: RMB
Closing balance of
Percentage of the
provision for bad
Closing balance of total closing
Closing balance of debts of accounts
Closing balance of accounts balance of
Name of entity accounts receivable and
contract assets receivable and accounts
receivable impairment
contract assets receivable and
provision for
contract assets
contract assets
Entity 1 6650851730.00 6650851730.00 13.32% 3325425.86
Entity 2 5370517228.00 5370517228.00 10.75% 2685258.61
235Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Entity 3 2181100151.23 2181100151.23 4.37% 1090550.08
Entity 4 1835098491.16 1835098491.16 3.67% 917549.25
Entity 5 1718288468.04 1718288468.04 3.44% 859144.23
Total 17755856068.43 17755856068.43 35.55% 8877928.03
6. Contract assets
(1) Overview
Unit: RMB
Closing balance Opening balance
Item
Gross carrying Bad debt Gross carrying Bad debt Carrying
Carrying amount
amount reserve amount reserve amount
Not past due 1171460094.58 33128905.26 1138331189.32
Total 1171460094.58 33128905.26 1138331189.32 0.00
(2) Significant movements in carrying value in the Reporting Period and the reasons thereof
Unit: RMB
Item Amount of movement Reasons for movement
(3) Disclosure by bad debt provisioning method
Unit: RMB
Closing balance Opening balance
Gross carrying
Gross carrying amount Bad debt reserve Bad debt reserve
Category amount
Carrying
Carrying amount
amount
Provision Provision
Amount Percentage Amount Amount Percentage Amount
percentage percentage
Provision for bad
debts made on an 32559363.27 2.78% 32559363.27 100.00% 0.00
individual basis
Incl.:
Provision on an
32559363.272.78%32559363.27100.00%0.00
individual basis
Provision for bad
debts made on a 1138900731.31 97.22% 569541.99 0.05% 1138331189.32
portfolio basis
Incl.:
Aging combination 1138900731.31 97.22% 569541.99 0.05% 1138331189.32
236Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Total 1171460094.58 100.00% 33128905.26 2.83% 1138331189.32
Provision for bad debts made on a portfolio basis: 569541.99
Unit: RMB
Closing balance
Name
Gross carrying amount Bad debt reserve Provision percentage
Not past due 1138900731.31 569541.99 0.05%
Total 1138900731.31 569541.99
Description of the basis for determining this portfolio:
Provision of bad debt reserve using the general ECL model
□ Applicable □Not applicable
(4) Provision recovery and reversal of bad debt reserve in the Reporting Period
Unit: RMB
Provision during the
Item Recovered or reversed Charged off/written off Reason
current period
Of the amount
provisioned in the
Reporting Period
RMB42715932.23
arises from the
Aging combination 43522365.54 10393460.28
expansion of the scope
of consolidation and
other movements
increased by
RMB806433.31.Total 43522365.54 10393460.28 --
Significant amounts of provision for bad debts recovered or reversed during the current period:
Unit: RMB
Basis for determining
Amount recovered or the original provision
Name of entity Reason for reversal Recovery method
reversed percentage and its
reasonableness
Other notes:
(5) Contract assets actually written off in the Reporting Period
Unit: RMB
Item Amount written off
Contract assets actually written off 0.00
Of which significant write-offs of contract assets
237Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Unit: RMB
Write-off Whether arising
Amount written Reasons for write-
Name of entity Nature of amounts procedures from related-party
off off
performed transactions
Notes to contract assets write-off:
Other notes:
7. Accounts receivable financing
(1) Accounts receivable financing by category
Unit: RMB
Item Closing balance Opening balance
Notes receivable 1263239984.56 1106284192.29
Total 1263239984.56 1106284192.29
(2) Accounts receivable financing endorsed or discounted but not yet matured on the balance sheet date at period-end
Unit: RMB
Item Derecognized amount at period-end Non-derecognized amount at period-end
Banker’s acceptance 2391765695.30
Total 2391765695.30
8. Other receivables
Unit: RMB
Item Closing balance Opening balance
Dividends receivable 148345542.83
Other receivables 1760963337.90 916828350.56
Total 1909308880.73 916828350.56
(1) Dividends receivable
1) Classification of dividends receivable
Unit: RMB
Item (or investee) Closing balance Opening balance
Associate 1 148345542.83
Total 148345542.83
238Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Other receivables
1) Classification of other receivables by nature of amounts
Unit: RMB
Nature of amounts Closing gross carrying amount Opening gross carrying amount
Staff advances 4471916.37 1267335.56
Deposits and security deposits 1437583433.30 112233870.80
Export rebates receivable 139800046.91 728279127.64
Advances on behalf of others 167483213.86 26510643.76
Others 33040875.55 56476424.53
Total 1782379485.99 924767402.29
(2) Disclosure by aging
Unit: RMB
Aging Closing gross carrying amount Opening gross carrying amount
Within 1 year (inclusive) 1771605277.88 921840282.22
Incl.: Not past due 1744456460.91 909652408.69
Past due 1 to 60 days 7942243.89 3882135.91
Past due 61 to 120 days 12954193.42 340535.25
Past due 121 to 180 days 6005711.45 132957.87
Past due 181 to 365 days 246668.21 7832244.50
1 to 2 years 7676418.16 2347924.57
2 to 3 years 2630340.95 110331.50
Over 3 years 467449.00 468864.00
4 to 5 years 468864.00
Over 5 years 467449.00
Total 1782379485.99 924767402.29
3) Disclosure by the bad debt provision method
□Applicable □ Not applicable
Unit: RMB
239Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Closing balance Opening balance
Gross carrying amount Bad debt reserve Gross carrying amount Bad debt reserve
Category
Carrying Carrying
amount amount
Provision Provision
Amount Percentage Amount Amount Percentage Amount
percentage percentage
Provision for
bad debts
8623786.3
made on an 0.48% 8623786.37 100.00% 0.00 110331.50 0.01% 110331.50 100.00% 0.00
7
individual
basis
Incl.:
Provision on
8623786.3
an individual 0.48% 8623786.37 100.00% 0.00 110331.50 0.01% 110331.50 100.00% 0.00
7
basis
Provision for
bad debts 17737556 12792361.7 1760963337 924657070.7 7828720.2 916828350
99.52%0.72%99.99%0.85%
made on a 99.62 2 .90 9 3 .56
portfolio basis
Incl.:
Aging 17737556 12792361.7 1760963337 924657070.7 7828720.2 916828350
99.52%0.72%99.99%0.85%
combination 99.62 2 .90 9 3 .56
1782379421416148.01760963337924767402.27939051.7916828350
Total 100.00% 1.20% 100.00% 0.86%
85.999.9093.56
Provision for bad debts made on an individual basis: 8623786.37
Unit: RMB
Opening balance Closing balance
Name
Gross carrying Bad debt Gross carrying Bad debt Provision Reason for
amount reserve amount reserve percentage provision
Provision on an
110331.50110331.508623786.378623786.37100.00%
individual basis
Total 110331.50 110331.50 8623786.37 8623786.37
Provision for bad debts made on a portfolio basis: 12792361.72
Unit: RMB
Closing balance
Name
Gross carrying amount Bad debt reserve Provision percentage
Not past due 1743884127.93 8719420.64 0.50%
Past due for 1 to 60 days 7942243.89 79422.44 1.00%
Past due for 61 to 120 days 12954193.42 647709.67 5.00%
240Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Past due for 121 to 180 days 5914205.65 591420.57 10.00%
Past due for 181 to 365 days 246668.21 49333.64 20.00%
Past due over 1 year but
218411.52109205.7650.00%
within 2 years
Past due over 2 years 2595849.00 2595849.00 100.00%
Total 1773755699.62 12792361.72
Description of the basis for determining this portfolio:
Provision for bad debts made under the general expected credit loss model:
Unit: RMB
Stage 1 Stage 2 Stage 3
Bad debt reserve Lifetime expected Lifetime expected Total
12-month expected
credit loss (not credit- credit loss (credit-
credit loss
impaired) impaired)
Balance as at January
7939051.737939051.73
12025
Balance as at January
1 2025 during the
current period
Provision during the
31995302.8631995302.86
current period
Reversed in the
16228817.5016228817.50
Reporting Period
Written off in the
2482003.682482003.68
Reporting Period
Other changes -192614.68 -192614.68
Balance as at
21416148.0921416148.09
December 31 2025
Basis for classification into each stage and provision percentage for bad debts
Changes in gross carrying amounts with significant changes in provision for bad debts during the current period
□ Applicable □Not applicable
4) Provision for bad debts made recovered or reversed during the current period
Provision for bad debts made during the current period:
Unit: RMB
Category Opening Changes during the current period Closing balance
241Luxshare Precision Industry Co. Ltd. 2025 Annual Report
balance
Recovery or Write-off or
Provision Others
reversal cancellation
Other
7939051.7331995302.8616228817.502482003.68-192614.6821416148.09
receivables
Total 7939051.73 31995302.86 16228817.50 2482003.68 -192614.68 21416148.09
Amounts in “Others” column include RMB892371.78 arising from the expansion of the scope of consolidation and a decrease of
RMB699757.10 from other movements.Significant amounts of provision for bad debts recovered or reversed during the current period:
Unit: RMB
Basis for determining
Amount recovered or the original provision
Name of entity Reason for reversal Recovery method
reversed percentage and its
reasonableness
5) Other receivables actually written off in the Reporting Period
Unit: RMB
Item Amount written off
Of which significant write-offs of other receivables:
Unit: RMB
Write-off Whether arising
Nature of other Amount written Reasons for write-
Name of entity procedures from related-party
receivables off off
performed transactions
Notes to other receivables write-off:
6) Other receivables of top 5 debtors by closing balance
Unit: RMB
Percentage of the
Closing balance of
total closing
Name of entity Nature of amounts Closing balance Aging provision for bad
balance of other
debts
receivables
Deposits and
Entity 1 1067973751.62 Not past due 59.92% 5339868.76
security deposits
Deposits and
Entity 2 156170207.09 Not past due 8.76% 780851.04
security deposits
Export rebates
Entity 3 139800046.91 Not past due 7.84% 699000.23
receivable
Deposits and
Entity 4 77389611.16 Not past due 4.34% 386948.06
security deposits
Advances on
Entity 5 43952724.18 Not past due 2.47% 219763.62
behalf of others
242Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Total 1485286340.96 83.33% 7426431.71
7) Other receivables presented due to centralized fund management
Unit: RMB
Other notes:
9. Prepayments
(1) Prepayments by aging
Unit: RMB
Closing balance Opening balance
Aging
Amount Percentage Amount Percentage
Within 1 year 1431697971.94 99.37% 384546897.15 98.81%
1 to 2 years 5721137.64 0.40% 3781553.09 0.97%
2 to 3 years 2292665.67 0.16% 119969.43 0.03%
Over 3 years 979008.44 0.07% 752000.00 0.19%
Total 1440690783.69 389200419.67
Notes to repayments aging over 1 year and significant in amount that have not been settled timely:
(2) Prepayments of top 5 payees by closing balance
Percentage in the total closing
Name Closing balance
balance of prepayments (%)
Payee 1 85659823.59 5.95
Payee 2 79082936.01 5.49
Payee 3 62526948.44 4.34
Payee 4 54847453.07 3.81
Payee 5 47591440.27 3.30
Total 329708601.38 22.89
Other notes:
10. Inventories
Whether the Company is required to comply with the disclosure requirements for the real estate industry
No
(1) Inventories by category
Unit: RMB
243Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Closing balance Opening balance
Reserve for Reserve for
Item inventory write- inventory write-
Gross carrying down or Gross carrying down or
Carrying amount Carrying amount
amount impairment on amount impairment on
contract contract
fulfillment costs fulfillment costs
Raw
14383340839.39644898180.1613738442659.238389249910.28360585150.028028664760.26
materials
Goods in
8893923426.68269521418.748624402007.946905615542.64327519683.216578095859.43
process
Finished
18874366883.28987414582.5417886952300.7416723010243.68520090372.9216202919870.76
products
Turnover
1266213405.571266213405.57441841240.11441841240.11
materials
Contract
fulfillment 335486998.84 12935839.58 322551159.26 222913808.73 7334064.16 215579744.57
costs
Shipped
288217359.66472839.56287744520.10101538974.56614732.16100924242.40
goods
Materials in
165154952.51165154952.5145746042.3445746042.34
transit
Consigned
processing 41321444.12 41321444.12 88903789.16 88903789.16
materials
Total 44248025310.05 1915242860.58 42332782449.47 32918819551.50 1216144002.47 31702675549.03
(2) Reserve for inventory write-down or impairment on contract performance cost
Unit: RMB
Reductions in the Reporting
Additions in the Reporting Period
Period
Item Opening balance Closing balance
Reversed or
Provision Others Others
charged off
Raw
360585150.0291733984.17364794435.71162698822.219516567.53644898180.16
materials
Goods in -
327519683.21121087912.3682583393.15263564128.79269521418.74
process 1894558.80
Finished -
520090372.92925566985.30161720294.80625396301.76987414582.54
products 5433231.29
Contract 7334064.16 5830056.80 228281.38 12935839.58
244Luxshare Precision Industry Co. Ltd. 2025 Annual Report
fulfillment
costs
Shipped
614732.16472839.56614732.16472839.56
goods
Total 1216144002.47 1144691778.19 609098123.66 1052273984.92 2417058.82 1915242860.58
The amounts in the “Others” column under “Additions in the Reporting Period” arise from the expansion of the scope of consolidation.Reserve for inventory write-down provisioned on a portfolio basis
Unit: RMB
Period-end Period-beginning
Portfolio Name Write-down Write-down
Depreciation reserve Opening Depreciation reserve
Closing balance
reserve provision balance reserve provision
percentage percentage
Criteria for provision of reserve for inventory write-down on a portfolio basis
11. Non-current assets due within 1 year
Unit: RMB
Item Closing balance Opening balance
Term deposits due within 1 year 9638642106.65 4199154224.92
Total 9638642106.65 4199154224.92
(1) Debt investments maturing within 1 year
□ Applicable □Not applicable
(2) Other debt investments maturing within 1 year
□ Applicable □Not applicable
12. Other current assets
Unit: RMB
Item Closing balance Opening balance
Contract acquisition cost 3100989.90
Refund cost receivable 601318.98
Input tax to be deducted 3547136435.55 2472487412.50
Large-denomination certificates of
21429742623.3415006005743.99
deposit
Prepaid income tax 234948596.28 66690699.83
Prepaid customs duties and other taxes 2490609.72 11310127.64
245Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Others 969290.09
Listing and issuance expenses 11072711.81
Total 25229093285.58 17557463274.05
Other notes:
13. Other equity instrument investments
Unit: RMB
Accumulative Accumulative
Gains Losses Reason for
gains losses Dividend
recognized as recognized as designation as
recognized as recognized as income
other other measured at
Opening other other recognized
Item Closing balance comprehensive comprehensive fair value
balance comprehensive comprehensive in the
income in the income in the through other
income in the income in the Reporting
Reporting Reporting comprehensive
Reporting Reporting Period
Period Period income
Period Period
Beijing Xloong Not held for
Technologies Co. 7748083.24 8360449.71 612366.47 2251916.76 short-term
Ltd. trading
Not held for
Beijing Wi-parking
9408404.79 9945236.33 536831.54 591595.21 short-term
Co. Ltd.trading
King Tone Innovation Not held for
(Beijing) Technology 4600187.12 3898804.00 701383.12 1600187.12 short-term
Co. Ltd. trading
Not held for
Zhejiang Tony
0.00 41321637.56 9847628.63 short-term
Electronic Co. Ltd.trading
Not held for
Shenzhen SDMC
23680000.00 23680000.00 26320000.00 short-term
Technology Co. Ltd.trading
Asia Pacific
Not held for
Emerging Industry
415079.33 529137.63 114058.30 316726.47 short-term
Venture Capital Co.trading
Ltd.Shenzhen Shifang Not held for
Technovation 24040066.47 25029806.81 989740.34 959933.53 short-term
Limited trading
Not held for
Arashi Vision Inc. 108928297.80 87008158.86 87008158.86 short-term
trading
Not held for
Beijing Yunji
20330127.34 2335057.29 2335057.29 short-term
Technology Co. Ltd.trading
Anhui Zhuodun Not held for
Security Technology 20000000.00 short-term
Co. Ltd. trading
246Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Not held for
Uzkoje Co. Ltd. 311389.11 24743.35 24743.35 short-term
trading
Total 219461635.20 112765072.04 99892227.90 2277740.00 90943403.27 30464915.32
There is derecognition in the Reporting Period.Unit: RMB
Accumulative gains Accumulative losses
Item reclassified as retained reclassified as retained Reason for derecognition
earnings earnings
Zhejiang Tony Electronic
42945170.94 Disposal of equity interests
Co. Ltd.Disaggregated disclosure of non-trading equity instrument investments in the Reporting Period
Unit: RMB
Amount of Reason for Reason for
other designation as reclassification
Dividend comprehensive measured at fair of other
Accumulative Accumulative
Item income income value through comprehensive
gains losses
recognized reclassified as other income as
retained comprehensive retained
earnings income earnings
Other notes:
14. Long-term equity investments
Unit: RMB
Changes during the current period
Opening Opening Closing Closing
balance balance of Investment balance balance of
Investee Adjustments to Cash
(carrying impairment Reduction profit or loss Other Impairment (carrying impairment
Additional other dividends or
value) provision in recognized equity provision Others value) provision
investment comprehensive profits
investment under the changes made
income declared
equity method
I. Joint Ventures
Subtotal of -
144667215121860.6
joint 14169820.29 -141749.26 9545894 134027582.68
66.468
ventures .13
-
144667215121860.6
Subtotal 14169820.29 -141749.26 9545894 134027582.68
66.468.13
II. Associates
Subtotal of 7343628 70783390. 2853800. 23896349. 4251240504 146815 149848722. 3175496 11875669084 70783390.-12673910.74
associates 667.55 56 00 67 .42 419.24 26 75.63 .17 56
734362870783390.2853800.23896349.4251240504146815149848722.31754961187566908470783390.
Subtotal -12673910.74
667.55560067.42419.242675.63.1756
247Luxshare Precision Industry Co. Ltd. 2025 Annual Report
748829570783390.2853800.23896349.4265410324146815164970582.30800371200969666670783390.
Total -12815660.00
934.01560067.71419.249481.50.8556
Recoverable amount determined based on fair value less costs of disposal
□ Applicable □Not applicable
Recoverable amount determined based on the present value of estimated future cash flows
□ Applicable □Not applicable
Reasons for significant differences between the above information and the information used in impairment tests in prior years or
external information
Reasons for significant differences between the information used by the Company in impairment tests in prior years and the actual
circumstances of the current year
Other notes:
Other notes: RMB 312212482.84 in the “Others” column under “Additions/reductions in the Reporting Period” of “Associates” arises
from the change in the scope of consolidation in the Reporting Period.
15. Other non-current financial assets
Unit: RMB
Item Closing balance Opening balance
Financial assets at fair value through
37637104.3939311504.56
profit or loss (equity investments)
Total 37637104.39 39311504.56
Other notes:
16. Investment property
(1) Investment property adopting the cost measurement mode
□Applicable □ Not applicable
Unit: RMB
Construction in
Item Houses and buildings Land use rights Total
progress
I. Original Carrying Value
1. Opening balance 21230815.77 21347978.54 42578794.31
2. Additions in the Reporting
64075493.028465723.7572541216.77
Period
(1) Outsourcing
(2) Transfers from
inventories/fixed
assets/construction in progress
(3) Additions from
63856564.618465723.7572322288.36
business combinations
248Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(4) Other additions 218928.41 218928.41
3. Reductions in the
126720.80126720.80
Reporting Period
(1) Disposals 97048.50 97048.50
(2) Other transfers
(3) Other reductions 29672.30 29672.30
4. Closing balance 85306308.79 29686981.49 114993290.28
II. Accumulated Depreciation and
Accumulated Amortization
1. Opening balance 6913977.38 6913977.38
2. Additions in the Reporting
9427931.77163810.999591742.76
Period
(1) Provisions or
366927.44366927.44
amortizations
(2) Additions from business
8784806.53163810.998948617.52
combinations
(3) Other additions 276197.80 276197.80
3. Reductions in the
Reporting Period
(1) Disposals
(2) Other transfers
4. Closing balance 16341909.15 163810.99 16505720.14
III. Provision for Impairment
1. Opening balance
2. Additions in the Reporting
Period
(1) Provisions
3. Reductions in the
Reporting Period
249Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(1) Disposals
(2) Other transfers
4. Closing balance
IV. Carrying Value
1. Closing carrying value 68964399.64 29523170.50 98487570.14
2. Opening carrying value 14316838.39 21347978.54 35664816.93
Recoverable amount determined based on fair value less costs of disposal
□ Applicable □Not applicable
Recoverable amount determined based on the present value of estimated future cash flows
□ Applicable □Not applicable
Reasons for significant differences between the above information and the information used in impairment tests in prior years or
external information
Reasons for significant differences between the information used by the Company in impairment tests in prior years and the actual
circumstances of the current year
Other notes:
(2) Investment property measured at fair value
□ Applicable □Not applicable
17. Fixed assets
Unit: RMB
Item Closing balance Opening balance
Fixed assets 65901073710.76 48231236929.70
Disposal of fixed assets
Total 65901073710.76 48231236929.70
(1) Overview
Unit: RMB
Auxiliary
Buildings Machinery
Office Computer equipment Transportation Other Mold
Item and and Total
equipment equipment for equipment equipment equipment
structures equipment
production
I. Original
Carrying Value:
1. Opening 1657613 599156125 45367082 447163465 38117435 1382342 7883581 88627372
119084293.02
balance 5643.37 .81 110.01 .50 71.21 5342.01 860.35 411.28
250Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Additions
13417433265155625252450214906497104753963245300129153647805988
in the Reporting 71662280.31
6989.7369.12828.95.9533.29575.95505.76981.06
Period
(1)67196863483533339004609780187701.8726422952287391881428114194313
47732366.77
Purchases 15.23 .18 72.27 42 .41 512.72 59.64 756.64
(2)
Transfers from 3633606 43936951. 12250202 6111438.5 28353587. 5217459 3884790 58534415
6188121.99
construction in 091.37 70 68.97 8 35 98.80 60.30 19.06
progress
(3)
Additions from 9076227 28600034 14982333 125635597 145430511 4010896 2111601 27629541
17705607.92
business 640.46 24.04 203.94 .97 .35 91.86 1.62 689.16
combinations
356346412861960.40487583.2971759.91113239.13507337513274.2128692016
(4) Others 36183.63
2.672077882.570.20
3. Reductions
70179132633388802365905613058679.1670261875075352381056644061021
in the Reporting 6389553.59
00.30.9063.1216.8447.2517.1429.30
Period
(1)
46439912017441831852742413058679.1594017702724545312316332817489
Disposals or 5631905.55
22.06.4114.3016.4332.1843.0450.13
retirements
(2) Reductions
5812682.83432049.09244731.9
from business
730
combinations
237392155782014.5097311997624417.42350807687402711151084
(3) Others 757648.04
78.2462.79115.074.1047.27
4. Closing 2929178 36009729 68253627 649011284 46922570 1656119 8794061 132027259
184357019.74
balance 1332.80 14.03 275.84 .29 16.66 0670.71 748.97 263.04
II. Accumulated
Depreciation
1. Opening 4102898 304580393 20575321 272246032 19068251 7666165 4753272 39648417
67108931.04
balance 254.97 .13 192.19 .96 76.40 471.29 449.22 901.20
2. Additions
285579824544067158428151692707157855609862795582131763426246616
in the Reporting 25547453.73
006.5903.42873.48.26.86447.98171.48358.80
Period
(1)10126692109342276379897266946519.6751158892547948131617012226949
17266937.41
Provisions 757.68 .51 09.94 08 .55 359.87 434.47 335.51
(2) Additions from
1829806223321189406598910005506910366058821370451461796.13896760
business 8261207.28
308.5824.8876.98.96.8206.0339278.92
combinations
133219410260651.56319686.2269126.26784508.43392958122906744
(3) Others 19309.04 1940.62
0.330356292.08.37
251Luxshare Precision Industry Co. Ltd. 2025 Annual Report
3. Reductions
80089202373162251472877411913379.83890747.2971707256367524446825
in the Reporting 5057211.70
8.73.9233.76037744.7355.0806.72
Period
(1)
9211896.1888376341215802511866955.83890747.1444939223063818818364
Disposals or 4668898.74
74.4313.20957706.3875.6328.84
retirements
(2)
Reductions from 4754181.8 2980176.0 7780780.9 46423.08
business 0 5 3
combinations
708773143724409.25409474415267683330367555065296
(3) Others 388312.96
1.9969.5138.359.45.95
4. Closing 6878607 25216708 34945259 429603369 26084954 1016457 5814539 63450351
87599173.07
balance 052.83 70.63 631.91 .19 15.49 7174.54 065.62 753.28
III. Provision for
Impairment
1. Opening 6325692 608936245 1461722.7 6367607.0 5725603 1031260 747717580
83907.9842534.87
balance 3.55 .48 5 2 1.09 7.65 .39
2. Additions
12162955607258.77914318939225113.630581775.7953826234563321573590
in the Reporting 1222735.96
623.804.823511.059.9802.49
Period
(1)925931016834406522601125.12898992256677320394448
649833.35715858.7624690.65
Provisions 3.57 .30 75 7.48 3.16 .02
(2) Additions from
11237024957425.36230877858509254.87980649.76663926889566.818369645
business 1198045.31
520.239.18763.57211.13
combinations
(3) Others 43.34 43.34
3. Reductions
1192024.18909463615153934.17755385433855.229242783
in the Reporting 40422.93 487306.26 85222.12
48.11042.1381.88
Period
(1)
18905070115153934.17753665431427.228002674
Disposals or 40422.93 487305.48 85222.12.09041.3335.34
retirements
(2)
Reductions from
business
combinations
1192024.1240109.5
(3) Others 43935.02 0.78 1720.80 2428.46
484
4. Closing 1278360 5650743.7 12112735 10199530. 21795448. 1190389 2833509 26758337
1180048.71
balance 522.87 9 03.19 12 49 10.01 1.82 99.00
252Luxshare Precision Industry Co. Ltd. 2025 Annual Report
IV. Carrying Value
1. Closing 2113481 10736512 32097094 209208384 20619661 6277574 2951187 65901073
95577797.96
carrying value 3757.10 99.61 140.74 .98 52.68 586.16 591.53 710.76
2. Opening 1240998 294491824 24182824 173455709 18985507 6100003 3119996 48231236
51932827.11
carrying value 0464.85 .70 672.35 .79 87.79 839.63 803.48 929.70
(2) Fixed assets without completed title certificates
Unit: RMB
Item Carrying amount Reason
Changshu Luxshare’s plant and auxiliary
2377132328.64 In progress
buildings
Luxcase Precision Technology
898916993.45 In progress
(Vietnam) Co. Ltd.Plant Buildings 1 and 2 in Qingxi Xinhao
Optoelectronic Technology Industrial 270938422.20 In progress
Park
Huarong Communication Technology
116337073.06 In progress
Park
Xi’an Luxshare Information’s office
107520282.38 In progress
building and apartment building
Electronic Technology’s plant and
94120105.11 In progress
dormitory buildings
Yancheng Luxcase’s new plant building 66118988.08 In progress
Jiangxi Energy’s Plant Building 1 58992676.10 In progress
Dongguan Luxshare Precision’s Plant
23354079.73 In progress
Buildings A and B
Fujian JK’s plant office and dormitory
5289380.22 Note 1
buildings
Jiangxi Luxshare Intelligent
Manufacture’s wastewater treatment 1084719.27 In progress
plant
Suzhou Merry’s manager training center 573461.76 In progress
Other notes:
Note 1: The land occupied by the staff dormitory building is allocated land. The Company obtained the land use rights through
agreement-based transfer in compliance with the relevant regulations in force at the time. The transfer of property ownership of the
staff dormitory which is built on allocated land use rights must go through a process in which the allocated land use rights are converted
into paid land use rights. As the current land use rights can no longer be obtained through a transfer agreement the property ownership
certificate of the staff dormitory has not been transferred to Fujian JK.
253Luxshare Precision Industry Co. Ltd. 2025 Annual Report
18. Construction in progress
Unit: RMB
Item Closing balance Opening balance
Construction in progress 4290260998.33 5379186127.71
Total 4290260998.33 5379186127.71
(1) Overview
Unit: RMB
Closing balance Opening balance
Item
Gross carrying Impairment Gross carrying Impairment
Carrying amount Carrying amount
amount provision amount provision
Plant
2490135666.962490135666.963456407782.243456407782.24
construction
Equipment
installation 847070694.07 847070694.07 1361491192.81 1361491192.81
works
Mold
644031265.88644031265.88151542851.11151542851.11
improvement
Others 309023371.42 309023371.42 409744301.55 409744301.55
Total 4290260998.33 4290260998.33 5379186127.71 5379186127.71
(2) Significant movements arising from construction in progress in the Reporting Period
Unit: RMB
Of which: Interest
Other Percentage
Transfers to Cumulative capitalizat
Additions in reductions of Cumulative
Budget Opening fixed assets in Closing Project capitalized ion rate Source
Item the Reporting in the cumulative capitalized
amount balance the Reporting balance progress interest in the for the of funds
Period Reporting investment interest
Period Reporting Reporting
Period in budget
Period Period
Changshu
Luxshare’s plant 4152734386 1099506384 490536110.8 1387142017 4673899. 198226
98.62% 98.62% Others
building .86 .84 7 .74 97 578.00
construction
Changshu
Luxshare’s
1142834251174841120.6719211227.4491118143.72993969372994
equipment 99.72% 99.72% Others.006541.94512.43
installation
works
Vietnam
Luxcase’s plant 1239999000 414740478.0 573952036.8 900891550.1 87800
78.30% 78.30% Others
building .00 6 9 7 964.78
construction
Equipment 91.14% 91.14% Others
669505019.9200166851.5341202595.7383780693.4157588
installation
254Luxshare Precision Industry Co. Ltd. 2025 Annual Report
works in Nghe 1 5 0 4 753.81
An
Luxshare-ICT
Nghe An’s 11983
1630994012788744776.4599402084.0189784022.4
Phase II plant 62838. 84.78% 84.78% Others.90605
building 01
construction
Luxshare
Precision
570144000.0349530749.4349530749.4100.00
Mexico’s plant 100.00% Others
033%
building
construction
20149
94062106703027530361272430405437022471763461359
Total 73647..67.00.91.971.91
03
(3) Impairment testing on construction in progress
□ Applicable □Not applicable
19. Right-of-use assets
(1) Overview
Unit: RMB
Buildings and Machinery and Transportation
Item Office equipment Total
structures equipment equipment
I. Original
Carrying Value
1. Opening
1277468176.5739768959.831844211.551319081347.95
balance
2. Additions
in the Reporting 3683408295.55 131322196.52 91773360.11 19712121.74 3926215973.92
Period
(1) New leases 570672439.62 15726732.41 17513298.89 1765198.80 605677669.72
(2) Additions from
business 3129360235.64 115595464.11 74260061.22 17946922.94 3337162683.91
combinations
(3) Revaluation
-28163391.14-28163391.14
adjustments
(4) Other additions 11539011.43 11539011.43
3. Reductions
in the Reporting 320971080.38 18992870.39 27785199.58 1801093.57 369550243.92
Period
(1) Transfers to
fixed assets
(2) Reductions
from business
255Luxshare Precision Industry Co. Ltd. 2025 Annual Report
combinations
(3) Disposals 320971080.38 16799956.02 26915145.94 1498259.15 366184441.49
(4) Other
2192914.37870053.64302834.423365802.43
reductions
4. Closing
4639905391.74112329326.13103757120.3619755239.724875747077.95
balance
II. Accumulated
Depreciation
1. Opening
443041674.4916882748.57669949.97460594373.03
balance
2. Additions
in the Reporting 1775485384.82 78009158.50 61947083.16 14343270.17 1929784896.65
Period
(1)
482875261.2916260756.2513261082.561947915.57514345015.67
Provisions
(2) Additions from
business 1275395378.28 61733883.39 49343414.32 12338674.76 1398811350.75
combinations
(3) Other additions 17214745.25 14518.86 -657413.72 56679.84 16628530.23
3. Reductions
in the Reporting 230180761.62 17773131.27 26901884.24 1750282.00 276606059.13
Period
(1)
230180761.6216546888.1626901884.241498259.15275127793.17
Disposals
(2) Reductions
from business
combinations
(3) Other
1226243.11252022.851478265.96
reductions
4. Closing
1988346297.6960236027.2351927947.4913262938.142113773210.55
balance
III. Provision for
Impairment
1. Opening
balance
2. Additions
in the Reporting
Period
(1)
256Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Provisions
3. Reductions
in the Reporting
Period
(1)
Disposals
4. Closing
balance
IV. Carrying
Value
1. Closing
2651559094.0452093298.9051829172.876492301.582761973867.39
carrying value
2. Opening
834426502.0822886211.261174261.58858486974.92
carrying value
(2) Impairment testing on right-of-use assets
□ Applicable □Not applicable
Other notes:
20. Intangible assets
(1) Overview
Unit: RMB
Non-patent
Item Land use rights Patent rights Software Others Total
technology
I. Original
Carrying Value
1. Opening
2716584148.86206364173.86159042220.74568969348.81106722799.123757682691.39
balance
2. Additions
in the Reporting 808771688.56 2153799101.19 582437450.98 911519561.59 978868789.21 5435396591.53
Period
(1)
117606970.945777725.9617373583.51195088845.70335847126.11
Purchases
(2)
74489467.845553354.3880042822.22
Internal R&D
(3)
Additions from 690856623.63 2073353168.38 556888302.97 704507795.07 978868789.21 5004474679.26
business
257Luxshare Precision Industry Co. Ltd. 2025 Annual Report
combinations
(4) Others 308093.99 178739.01 2622210.12 11922920.82 15031963.94
3.
Reductions in the 50545430.49 102476413.66 43298889.53 7671978.41 23422062.48 227414774.57
Reporting Period
(1)
15353077.8090991783.533945206.046317146.08116607213.45
Disposals
(2) Reductions
from business 36742175.47 22623464.20 59365639.67
combinations
(3) Others 35192352.69 11484630.13 2611508.02 1354832.33 798598.28 51441921.45
4. Closing
3474810406.932257686861.39698180782.191472816931.991062169525.858965664508.35
balance
II. Accumulated
Amortization
1. Opening
355564960.36119107565.41104488108.18351546846.5335318430.66966025911.14
balance
2. Additions
in the Reporting 122036475.87 1738374183.37 514631706.37 724794854.15 880448012.03 3980285231.79
Period
(1)
77105680.03235853946.1751278535.74146831313.7110451081.79521520557.44
Provisions
(2) Additions
from business 44869889.20 1502377546.06 463340538.55 574591529.16 869996736.72 3455176239.69
combinations
(3) Other
60906.64142691.1412632.083372011.28193.523588434.66
additions
3.
Reductions in the 3165099.92 71780684.29 21741916.52 6992521.55 13402457.72 117082680.00
Reporting Period
(1)
109443.1362924981.862755353.955661560.0071451338.94
Disposals
(2) Reductions
from business 5681363.42 17243176.12 13128626.26 36053165.80
combinations
(3) Other
3055656.793174339.011743386.451330961.55273831.469578175.26
reductions
4. Closing
474436336.311785701064.49597377898.031069349179.13902363984.974829228462.93
balance
258Luxshare Precision Industry Co. Ltd. 2025 Annual Report
III. Provision for
Impairment
1. Opening
187023.91187023.91
balance
2. Additions
in the Reporting 81139418.99 134193113.94 13262313.90 94576152.72 323170999.55
Period
(1)
90076931.4490076931.44
Provisions
(2) Additions
from business 81139418.99 134193113.94 13262313.90 4499221.28 233094068.11
combinations
(3) Others
3.
Reductions in the 6747383.06 917591.45 7664974.51
Reporting Period
(1)
6747383.066747383.06
Disposals
(2) Reductions
from business
combinations
(3) Others 917591.45 917591.45
4. Closing
81139418.99127445730.8813262313.9093845585.18315693048.95
balance
IV. Carrying
Value
1. Closing
2919234651.63344540066.0287540570.26309622167.68159805540.883820742996.47
carrying value
2. Opening
2361019188.5087256608.4554554112.56217235478.3771404368.462791469756.34
carrying value
Proportion of intangible assets formed from the internal R&D of the Company at period-end to the closing balance of intangible assets
(2) Data resources recognized as intangible assets
□ Applicable □Not applicable
(3) Land use rights without completed title certificates
Unit: RMB
Item Carrying amount Reason
Land purchased by Luxshare Energy
2584368.43 In progress
from Hongsheng Electronic
259Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Other notes:
(4) Impairment testing on intangible assets
□ Applicable □Not applicable
21. Goodwill
(1) Original carrying value of goodwill
Unit: RMB
Additions in the Reporting Reductions in the Reporting
Name of Period Period
investee or
events leading to Opening balance Formed Closing balance
recognition of through
goodwill Others Disposals Others business
combinations
Asap
Technology
42325745.8542325745.85
(Jiangxi) Co.Ltd.Lanto Electronic
376682429.24376682429.24
Limited
Bozhou Lanto
Electronic 9564372.61 9564372.61
Limited
Goodwill from
the original
53174339.3153174339.31
acquisition of
Keertong
Fujian JK
Wiring Systems 17717209.29 17717209.29
Co. Ltd.Huzhou Jiuding
Electronic Co. 1730318.45 1730318.45
Ltd.SpeedTech Corp. 26656146.69 26656146.69
Luxshare
Electronic
4582880.914582880.91
Technology
(Kunshan) Ltd.Suk
kunststofftechnik 9552894.63 9552894.63
GmbH
Merry
Electronics
8570588.068570588.06
(Suzhou) Co.Ltd.
260Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Merry Electronic
(Huizhou) Co. 6575713.14 6575713.14
Ltd.Merry Electronic
(Shanghai) Co.Ltd.Castle Rock Inc. 8303254.98 8303254.98
Goodwill from
the original
acquisition of 441595.93 441595.93
Taiqiao
Investment
Luxcase
Precision
Technology 814784800.96 814784800.96
(Yancheng) Co.Ltd.Zhejiang
PUSON
Electronic 804455.51 804455.51
Technology Co.Ltd.Caldigit Holding
41765582.4141765582.41
(Cayman)
Taihan Precision
9972872.889972872.88
Co. Ltd.TIME
Interconnect
175669057.02175669057.02
Technology
Limited
Shenzhen
Huarong
157013624.50157013624.50
Technologies
Co. Ltd.Lisheng
Intelligent
Technology 139752637.63 139752637.63
(Shanghai) Co.Ltd.Cosmo
Corporation 2947391.44 2947391.44
Cayman Limited
Rf Micro
Devices (Hong 8864483.14 8864483.14
Kong) Co. Ltd.
261Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Rf Micro
Devices
5473877.905473877.90
(Singapore) Co.Ltd.Luxshare
Precision
20167674.4520167674.45
Mexico SA de
C.V.ExcelloX 170151.97 170151.97
Jiaxing Yongrui
Electron
37525193.6137525193.61
Technology Co.Ltd.Shanghai
Luxshare
Information 7017279.73 7017279.73
Cash-Generating
Unit (CGU)
Wingtech Phase
II Domestic 210734050.36 210734050.36
Factory CGU
Yanze (Jiangsu)
Intelligent
9439900.599439900.59
Manufacture
Co. Ltd.Luxshare
Precision (M) 24589581.35 24589581.35
Sdn Bhd
Slenergy
Technology
43447818.9443447818.94
(Anhui) Co.
Ltd.Hong Kong
Wingtech &
21775479.0021775479.00
Indonesia
Wingtech CGU
Dejinchang
28093737.9228093737.92
CGU
Total 1922926272.48 402960867.92 50068837.39 2275818303.01
(2) Provision for goodwill depreciation
Unit: RMB
Name of Opening Reductions in the Reporting Closing Additions in the Reporting Period
investee or balance Period balance
262Luxshare Precision Industry Co. Ltd. 2025 Annual Report
events leading to
recognition of Provision Others Disposals Others
goodwill
Merry
Electronics
8570588.068570588.06
(Suzhou) Co.Ltd.Suk
kunststofftechnik 9552894.63 9552894.63
GmbH
Merry Electronic
(Shanghai) Co. 454304.97 454304.97
Ltd.Fujian JK
Wiring Systems 17717209.29 17717209.29
Co. Ltd.Zhejiang
PUSON
Electronic 804455.51 804455.51
Technology Co.Ltd.Total 37099452.46 454304.97 36645147.49
(3) Information on the CGUs or group of CGUs to which goodwill belongs
Composition and basis of the
Name Operating segment and basis Same as prior year or not
CGU or group of CGUs
Changes in CGU or group of CGUs
Objective facts leading to the
Name Composition before change Composition after change
change and their basis
Other notes
Note 1: The goodwill is formed in a prior-year business combination not under common control. As at the balance sheet date the
Company conducts impairment testing on goodwill. The recoverable amount of the assets within the goodwill-related CGU is
determined based on the present value of the CGU’s future cash flows and its net realizable value. Management determines the growth
rates and gross profit margins used in the forecasts based on the macro market environment historical experience and the development
stage of the product subcategories involved in different CGUs. Depending on the CGU the growth rates used in the forecasts for the
year ranges from -79% to 68% the gross profit margins range from 3.00% to 46% and the discount rates range from 2.98% to 13.89%.The parameters used for goodwill impairment testing of the primary CGUs are as follows:
Name of CGU Gross margin Growth rate Discount rate
Wingtech Phase II Domestic Factory CGU 7%-8% -31%-8% 13.89%
Lanto Electronic Limited 10.00%-11.62% 1.00%-1.06% 11.16%
Shenzhen Keertong Industrial Co. Ltd. 26.00%-28.14% 11.00%-11.91% 11.61%
263Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxcase Precision Technology (Yancheng) Co. Ltd. 5.3%-7.21% -4.1%-10.4% 11.20%
Shenzhen Huarong Technologies Co. Ltd. 5.3%-8.00% 10.00%-20.0% 12.23%
Note 2: TIME Interconnect Technology Limited is listed on the Hong Kong Stock Exchange and its recoverable amount is determined
as the net amount of fair value less costs of disposal.
22. Long-term deferred and prepaid expenses
Unit: RMB
Amortizations in
Additions in the
Item Opening balance the Reporting Other reductions Closing balance
Reporting Period
Period
Housing
renovation 563043617.42 593549493.51 245940684.70 910652426.23
expenses
Leasehold
11435131.64458715.605266571.846627275.40
improvements
Others 195522581.53 118260029.26 215843221.83 97939388.96
Total 770001330.59 712268238.37 467050478.37 1015219090.59
Other notes:
23. Deferred tax assets/deferred tax liabilities
(1) Deferred tax assets not offset
Unit: RMB
Closing balance Opening balance
Item
Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences assets differences assets
Provision for asset
5279106516.151069316004.761649936808.02330064622.97
impairment
Unrealized profit from
637974751.60108196371.83566937262.62108377935.56
internal transactions
Deductible losses 9029631000.46 1486846840.49 2834636576.35 558091603.57
Exchange differences
on translation of 984582080.35 256442446.74 24946662.65 5801621.73
foreign operations
Termination benefits 370068090.56 91978253.75 1816635.00 363327.00
Bonus for unused leave 2741899.00 548379.80 2552205.00 510441.00
Valuation of derivative
1430225.00307436.25
financial instruments
264Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Government grants 897151814.60 154723115.10 650779269.27 104790898.28
Share-based payment 1150163089.40 203745313.26 851905499.97 145070321.94
Changes in fair value
of other equity 32047241.90 5123456.02 28014313.96 4202147.10
instruments
Tax-accounting
differences in
1975304229.54488436123.871107945180.38267798539.82
depreciation of fixed
assets
Lease liabilities 2252262554.25 548851332.18 547820096.66 113864083.52
Deductible interest
329600355.5982088630.15
expenses
Provision for estimated
453153248.55116274158.55
liabilities
Others 245746771.86 55000202.50 108751641.52 20079756.50
Total 23639533643.81 4667570629.00 8377472376.40 1659322735.24
(2) Deferred tax liabilities not offset
Unit: RMB
Closing balance Opening balance
Item
Taxable temporary Taxable temporary
Deferred tax liabilities Deferred tax liabilities
differences differences
Asset appraisal
appreciation from
business combinations 1616130254.00 206375518.21 555834740.55 123998754.99
not under common
control
Changes in fair value
of other investments in 92850691.99 14205817.11 37038853.65 5555828.05
equity instruments
Accelerated
depreciation of fixed
assets (one-time pre- 9877657389.07 1667659020.41 6237429963.57 1069635156.61
tax deduction for assets
below RMB5 million)
Government grants and
16905531.402535829.71
subsidies
Unrealized exchange
157104400.3327050426.80998799492.08122175703.20
gains
Valuation of derivative 134346780.29 25237248.26 484114120.03 98803296.98
265Luxshare Precision Industry Co. Ltd. 2025 Annual Report
financial instruments
Exchange differences
on translation of 1202904686.21 314164679.65
foreign operations
Cumulative overseas
investment income
1117918404.00223583680.801221918845.24242805330.85
recognized under
equity method
Prepaid pension cost 30820506.61 8225010.36 7424799.00 1484959.80
Excess allowance for
1637554.00327510.80
bad debts
Right-of-use assets 2144323046.55 514509718.66 511955792.78 105436102.09
Accrued expenses 113827737.39 29580137.13
Nomination fees and
758961065.32181556645.86
contract assets
Others 1096181429.91 65808105.87 133221197.43 25019213.80
Total 18344663945.67 3278283519.92 10204643335.73 1797450176.08
(3) Deferred tax assets or liabilities presented at net amount after offsetting
Unit: RMB
Closing balance of Opening balance of
Closing offset amount Opening offset amount
deferred tax assets and deferred tax assets and
Item of deferred tax assets of deferred tax assets
liabilities after liabilities after
and liabilities and liabilities
offsetting offsetting
Deferred income tax
2134139513.082533431115.92841629258.95817693476.29
assets
Deferred tax liabilities 2134139513.08 1144144006.84 841629258.95 955820917.13
(4) Breakdown of unrecognized deferred tax assets
Unit: RMB
Item Closing balance Opening balance
Deductible losses 15283960103.74 9341313778.60
Total 15283960103.74 9341313778.60
(5) Amounts of deductible losses from unrecognized deferred tax assets maturing in the following years
Unit: RMB
Year Closing amount Opening amount Remark
266Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2025129889427.25
2026617612927.331058737705.37
2027955135344.651242057687.75
2028698644406.79764096589.49
2029710931126.581435890513.07
20301498257596.34364373142.35
2031258351609.51468544144.27
20321671621414.582152454639.27
2033712314647.731002851391.69
2034407572180.59673586879.87
2035668374350.22
Permanent 7085144499.43 48831658.22
Total 15283960103.75 9341313778.60
Other notes:
24. Other non-current assets
Unit: RMB
Closing balance Opening balance
Item
Gross carrying Impairment Gross carrying Impairment
Carrying amount Carrying amount
amount provision amount provision
Prepayments
for
equipment
1985449224.921985449224.921688136531.371688136531.37
and
construction
projects
Prepaid
8240324.558240324.557767842.107767842.10
pension cost
Prepayment
for equity 79450163.96 79450163.96
acquisition
Large-
denomination
certificates of 12515286587.63 12515286587.63 15176496070.96 15176496070.96
deposit and
term deposits
267Luxshare Precision Industry Co. Ltd. 2025 Annual Report
India
Wingtech 150643701.64 150643701.64
asset package
Nomination
727100816.28727100816.28
fees
Others 8591995.12 8591995.12
Total 15474762814.10 15474762814.10 16872400444.43 16872400444.43
Other notes:
25. Assets with restricted ownership or right of use
Unit: RMB
Period-end Period-beginning
Item
Gross carrying Type of Restriction Gross carrying Type of Restriction
Carrying amount Carrying amount
amount restriction details amount restriction details
Restricted Restricted
Cash and due to due to
cash 1818563629.52 1818563629.52 Margin issuance 1092552986.55 1092552986.55 Margin issuance
equivalents of notes of notes
and L/Cs and L/Cs
Financing Financing
secured by secured by
Fixed assets 4067334789.03 4067334789.03 Mortgage mortgaged 2220047990.97 2220047990.97 Mortgage mortgaged
fixed fixed
assets assets
Financing Financing
secured by secured by
Intangible
823987796.46 823987796.46 Pledge pledged 283667319.28 283667319.28 Pledge pledged
assets
land use land use
rights rights
Financing
secured by
Accounts
15202486.61 15202486.61 Pledge pledged
receivable
accounts
receivable
Restricted Restricted
Non-current
due to due to
assets due
1218103002.25 1218103002.25 Pledge issuance 1528473944.06 1528473944.06 Pledge issuance
within 1
of notes of notes
year
and L/Cs and L/Cs
Restricted Restricted
Other due to due to
current 17936005695.21 17936005695.21 Pledge issuance 7543420254.18 7543420254.18 Pledge issuance
assets of notes of notes
and L/Cs and L/Cs
Other non- 828980667.52 828980667.52 Pledge Restricted 2887664827.23 2887664827.23 Pledge Restricted
current due to due to
268Luxshare Precision Industry Co. Ltd. 2025 Annual Report
assets issuance issuance
of notes of notes
and L/Cs and L/Cs
Total 26708178066.60 26708178066.60 15555827322.27 15555827322.27
Other notes:
26. Short-term borrowings
(1) Categories of short-term borrowings
Unit: RMB
Item Closing balance Opening balance
Pledged borrowings 18808349537.15 5115528239.21
Mortgaged borrowings 343666933.37 170391059.73
Guaranteed borrowings 176329426.78 137652490.73
Credit borrowings 40809393571.19 29889557134.59
Total 60137739468.49 35313128924.26
Notes to the categories of short-term borrowings:
27. Financial liabilities held for trading
Unit: RMB
Item Closing balance Opening balance
Financial liabilities held for trading 424219343.62 155278918.84
Incl.:
Derivative financial liabilities 424219343.62 155278918.84
Incl.:
Total 424219343.62 155278918.84
Other notes:
28. Derivative financial liabilities
Unit: RMB
Item Closing balance Opening balance
Hedge instruments 38121564.96 0.00
Total 38121564.96 0.00
Other notes:
269Luxshare Precision Industry Co. Ltd. 2025 Annual Report
29. Notes payable
Unit: RMB
Category Closing balance Opening balance
Commercial acceptance bills 138297177.83 315839575.13
Banker’s acceptance 2963798963.37 562496136.81
Total 3102096141.20 878335711.94
The total amount of notes payable due but unpaid at period-end is RMB [ ] because:
30. Accounts payable
(1) Accounts payable
Unit: RMB
Item Closing balance Opening balance
Within 1 year 80486538887.18 64944368254.71
1 to 2 years 339287122.44 102710401.01
2 to 3 years 40857179.39 26053747.26
Over 3 years 43925613.61 14860735.66
Total 80910608802.62 65087993138.64
31. Other payables
Unit: RMB
Item Closing balance Opening balance
Dividends payable 1173208755.74 52175292.26
Other payables 1147520225.97 450194278.36
Total 2320728981.71 502369570.62
(1) Dividends payable
Unit: RMB
Item Closing balance Opening balance
Dividends on common shares 1173208755.74 52175292.26
Total 1173208755.74 52175292.26
Other notes including significant dividends payable outstanding for more than 1 year and the reasons thereof:
270Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Other payables
1) Other payables by nature
Unit: RMB
Item Closing balance Opening balance
Within 1 year 1066395882.20 370193703.86
1-2 years 70085265.41 74689108.49
2 to 3 years 6801953.54 1209333.75
Over 3 years 4237124.82 4102132.26
Total 1147520225.97 450194278.36
Other notes:
32. Contract liabilities
Unit: RMB
Item Closing balance Opening balance
Advance receipts from customers 931291965.17 262507706.68
Total 931291965.17 262507706.68
Significant contract liabilities aging over 1 year
Unit: RMB
Reason for non-repayment or carry-
Item Closing balance
forward
Amount of and reason for significant movements in carrying value in the Reporting Period
Unit: RMB
Item Amount of movement Reasons for movement
33. Employee benefits payable
(1) Employee benefits payable
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance
Reporting Period Reporting Period
I. Short-term
2982694364.9834020820212.4632243259012.324760255565.12
Compensation
II. Post-Employment
Benefits – Defined 25766105.26 1913435471.64 1878211364.18 60990212.72
Contribution Plans
271Luxshare Precision Industry Co. Ltd. 2025 Annual Report
III. Termination
2863755.12265577883.25137827995.80130613642.57
Benefits
Total 3011324225.36 36199833567.35 34259298372.30 4951859420.41
(2) Short-term compensation
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance
Reporting Period Reporting Period
1. Wages bonuses
2918850431.6630751338763.9429651452527.274018736668.33
allowances subsidies
2. Employee welfare
1576173.56277183469.92235888716.2342870927.25
expenses
3. Social insurance
15490480.821148064497.67834065114.40329489864.09
contributions
Of which:
Medical insurance 13963912.16 1036666635.24 723290272.26 327340275.14
contributions
Work-
related injury insurance 1266186.72 71183156.99 70753651.43 1695692.28
contributions
Maternity
260381.9440214705.4440021190.71453896.67
insurance contributions
4. Housing provident
5346625.08594789232.92584956606.2515179251.75
fund
5. Labor union and
employee education 33985679.82 43691541.36 35432375.67 42244845.51
expenses
6. Short-term paid
383154846.86179915175.24203239671.62
absences
7. Short-term profit-
7869504.02130701.587738802.44
sharing plans
8. Other short-term
7444974.04814728355.77721417795.68100755534.13
compensation
Total 2982694364.98 34020820212.46 32243259012.32 4760255565.12
(3) Defined contribution plans
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance
Reporting Period Reporting Period
272Luxshare Precision Industry Co. Ltd. 2025 Annual Report
1. Basic pension
25156918.221843343785.401808476271.0260024432.60
insurance
2. Unemployment
609187.0470091686.2469735093.16965780.12
insurance contributions
Total 25766105.26 1913435471.64 1878211364.18 60990212.72
Other notes:
34. Taxes payable
Unit: RMB
Item Closing balance Opening balance
Value-added tax (VAT) 604505330.27 210242341.64
Corporate income tax 1172828039.07 640603703.76
Personal income tax 460901237.73 86831143.55
City maintenance & construction tax 195331819.58 82297500.74
Education surcharge 77622933.58 42537753.28
Stamp duty 62807357.04 49728828.53
Disabled persons’ employment security
64037026.5061153367.06
fund
Local education surcharge 51619716.48 28122537.68
Real estate tax 58681310.69 31103839.66
Digital services tax 28000700.02
Land use tax 6570057.37 3998051.42
Others 36716707.19 1669565.74
Total 2819622235.52 1238288633.06
Other notes:
35. Non-current liabilities within 1 year
Unit: RMB
Item Closing balance Opening balance
Long-term borrowings due within one
10126584882.922102524892.10
year
Bonds payable due within 1 year 2950609273.76
273Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Long-term payables due within one year 36340041.17
Lease liabilities due within 1 year 587395889.39 153946615.16
Total 13700930087.24 2256471507.26
Other notes:
36. Other current liabilities
Unit: RMB
Item Closing balance Opening balance
Short-term bonds payable 6024479013.69 5039811780.82
Refunds payable 66204866.83 45653413.49
Deferred output VAT 498644252.77 22183798.56
Notes not derecognized 61075253.61 61175243.61
Restructuring provision 286736334.28
Nomination fees 213777454.89
Total 7150917176.07 5168824236.48
Movements in short-term bonds payable:
Unit: RMB
Issued in the Interest Amortization Repaid in the
Par Coupon Bond Issue Opening Closing Defaulted
Bond name Issue date Reporting accrued at of premium Reporting
value rate duration amount balance balance or not
Period par value and discount Period
Short-term
100.0 June 28 10000000 1010242 101486849
financing bonds 2.01% 270 4625753.42 No
0202400.00739.733.15
payable
Short-term
100.0 July 12 10000000 1009283 101430273
financing bonds 1.97% 265 5019452.06 No
0202400.00287.679.73
payable
Short-term
100.0 July 24 10000000 1008591 101439123
financing bonds 1.96% 268 5799452.06 No
0202400.00780.822.88
payable
Short-term
100.0 September 10000000 1005980 101583013
financing bonds 2.14% 270 9849863.02 No
020202400.00273.976.99
payable
Short-term
100.0 September 10000000 1005713 10072602.7 101578630
financing bonds 2.15% 268 No
025202400.00698.6341.37
payable
100.0 May 12 10000000 1000000000.0 10915890.4 1010915
Short-term 1.71% 270 No
0202500.0001890.41
financing bonds
274Luxshare Precision Industry Co. Ltd. 2025 Annual Report
payable
Short-term
100.0 June 9 12000000 1200000000.0 120976438
financing bonds 1.65% 180 9764383.56 No
0202500.0003.56
payable
Short-term
100.0100000001000000000.01007479
financing bonds 1.56% July 9 2025 268 7479452.05 No
000.000452.05
payable
Short-term
100.0 October 27 10000000 1000000000.0 1003098
financing bonds 1.74% 270 3098630.14 No
0202500.000630.14
payable
Short-term
100.0 November 80000000 8015649
financing bonds 1.74% 268 800000000.00 1564931.51 No
01920250.0031.51
payable
Short-term
100.0 December 12000000 1200000000.0 1201080
financing bonds 1.73% 270 1080657.53 No
012202500.000657.53
payable
Short-term
100.0 December 10000000 1000000000.0 1000339
financing bonds 1.77% 268 339452.05 No
024202500.000452.05
payable
1220000050398117200000000.069610520.56284943286024479
Total
000.00780.82057.68013.69
Other notes:
37. Long-term borrowings
(1) Categories of long-term borrowings
Unit: RMB
Item Closing balance Opening balance
Pledged borrowings 198100000.00
Mortgaged borrowings 1569040510.51 516823897.89
Guaranteed borrowings 4026937.36 5219696.50
Credit borrowings 14868915143.46 18899598040.38
Total 16441982591.33 19619741634.77
Notes to the categories of long-term borrowings:
Other notes including the interest rate range:
38. Bonds payable
(1) Bonds payable
Unit: RMB
Item Closing balance Opening balance
275Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Convertible bonds 436185443.70 3305436590.71
Medium-term notes 3055651981.52
Total 3491837425.22 3305436590.71
(2) Movements in bonds payable (excluding other financial instruments such as preferred shares and perpetual bonds classified
as financial liabilities)
Unit: RMB
Reclassified
Amortizati Exchange/
Issued in Interest Repaid in Debt- to non-
on of underwriting
Par Coupon Bond Issue Opening the accrued the for- current Closing Defaulted
Bond name Issue date premium and
value rate duration amount balance Reporting at par Reporting equity liabilities balance or not
and sponsorship
Period value Period swap due within 1
discount fees
year
1. Luxshare
Precision’s November 3 300000 287803 55000 7203642 5400000 466601 295060927
100.00 6 years No
convertible 2020 0000.00 9451.43 000.00 3.59 0.00 .26 3.76
bonds
2. Speed
Tech’s 22497. March 6 449940 427397 8401049. 436185
3 years -387255.08 No
convertible 00 2024 000.00 139.28 34 443.70
bonds
3. Bank of
Shanghai’s 15288
January 13 150000 1500000 30392 711728.1
1st-tranche 1.00 2.09% 3 years 2250000.00 53811. No
20250000.00000.00083.335
medium- 48
term notes
4. Bank of
Shanghai’s 15267
February 19 150000 1500000 28416 631503.3
2nd-tranche 1.00 2.20% 3 years 2250000.00 98170. No
20250000.00000.00666.677
medium- 04
term notes
34918
644994330543300000011380881780705400000466601295060927
Total -- 4112744.92 37425. --
0000.006590.71000.00750.004.450.00.263.76
22
(3) Notes to the convertible corporate bonds
Notes to bonds payable:
The Company’s subsidiary Speed Tech Corp. issues convertible corporate bonds with an aggregate principal amount of TWD2 billion
a coupon rate of 0% and a term of 3 years. The trading period is from March 6 2024 to March 6 2027.
39. Lease liabilities
Unit: RMB
Item Closing balance Opening balance
Lease payments 2787884327.13 779860687.46
Less: Unrecognized financing expenses -435191353.55 -51878020.09
Total 2352692973.58 727982667.37
Other notes:
276Luxshare Precision Industry Co. Ltd. 2025 Annual Report
40. Long-term payables
Unit: RMB
Item Closing balance Opening balance
Long-term payables 2999320.76 0.00
Total 2999320.76 0.00
(1) Long-term payables by nature
Unit: RMB
Item Closing balance Opening balance
Other notes:
41. Long-term employee benefits payable
(1) List of long-term employee benefits payable
Unit: RMB
Item Closing balance Opening balance
I. Post-Employment Benefits – Net
714974205.01
Liabilities from Defined Benefit Plans
III. Other Long-Term Benefits 81072428.60
Total 796046633.61 0.00
(2) Movements in defined-benefit plans
Present value of defined benefit plan obligations:
Unit: RMB
Item Current-period amount Prior-period amount
I. Opening Balance 2119742911.46
II. Defined Benefit Costs Recognized as
49722578.91
Current Profit or Loss
1. Current service cost 6823021.86
2. Past service cost -2359349.69
4. Net interest 45258906.74
III. Defined Benefit Cost Recognized as
-49521825.80
Other Comprehensive Income
1. Actuarial gains (“-” indicates losses) -49521825.80
277Luxshare Precision Industry Co. Ltd. 2025 Annual Report
IV. Other Movements -64853909.48
1. Consideration paid upon settlement 600952.67
2. Benefits paid -49191059.41
3. Others -16263802.74
V. Closing Balance 2055089755.09
Plan assets:
Unit: RMB
Item Current-period amount Prior-period amount
I. Opening Balance 1351016947.68
II. Defined Benefit Costs Recognized as
33039318.08
Current Profit or Loss
1. Net interest 33039318.08
III. Defined Benefit Cost Recognized as
-13705860.72
Other Comprehensive Income
1. Return on plan assets (excluding those
-13705860.72
recognized as net interest)
IV. Other Movements -30234854.96
1. Others -30234854.96
V. Closing Balance 1340115550.08
Net liabilities (net assets) from defined benefit plans
Unit: RMB
Item Current-period amount Prior-period amount
I. Opening Balance 768725963.78
II. Defined Benefit Costs Recognized as
16683260.83
Current Profit or Loss
III. Defined Benefit Cost Recognized as
-35815965.08
Other Comprehensive Income
IV. Other Movements -34619054.52
V. Closing Balance 714974205.01
Notes to defined benefit plans related risks and their impact on the Company’s future cash flows timing and uncertainties:
278Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Other notes: The opening balances of the prior year are all attributable to the changes in the scope of consolidation in the Reporting
Period.Notes to the results of significant actuarial assumptions and sensitivity analysis of defined benefit plans:
Other notes:
42. Estimated liabilities
Unit: RMB
Item Closing balance Opening balance Cause(s)
Guarantees provided for
5377781.50 Provision
external parties
Pending litigation 2504686.84 Provision
Product quality warranty 137754677.00 7088481.43 Provision
Pending loss-making
308433586.04 Provision
contracts
Others 47905978.19 Provision
Asset retirement obligations 105680752.54 Provision
Total 607657462.11 7088481.43
Other notes including notes to significant assumptions and estimates related to significant estimated liabilities:
43. Deferred income
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance Cause(s)
Reporting Period Reporting Period
Government grants 649108632.44 718357206.71 229045328.68 1138420510.47 Assets-related
Total 649108632.44 718357206.71 229045328.68 1138420510.47 --
Other notes:
44. Other non-current liabilities
Unit: RMB
Item Closing balance Opening balance
Others 0.00 756521.26
Severance payments 11536074.36
Long-term nomination fees 41990821.51
Total 53526895.87 756521.26
Other notes:
279Luxshare Precision Industry Co. Ltd. 2025 Annual Report
45. Share capital
Unit: RMB
Movements in the Reporting Period (+/-)
Opening balance Capitalization Closing balance
Bonus
New issues of surplus Others Subtotal
shares
reserve
Total
7236462142.0047970319.0010073.0047980392.007284442534.00
shares
Other notes:
Other notes: Share capital increased by RMB47980392.00 in the Reporting Period of which 47970319.00 shares were attributable
to the voluntary exercise of share options by incentive recipients and 10073.00 shares were attributable to the conversion of convertible
corporate bonds. After the exercise and conversion the share capital increased to 7284442534.00 shares.
46. Other equity instruments
(1) Basic information about other financial instruments such as preferred shares and perpetual bonds outstanding at period-
end
(2) Movement of financial instruments such as preferred shares and perpetual bonds outstanding at period-end
Unit: RMB
Additions in the Reductions in the
Period-beginning Period-end
Financial Reporting Period Reporting Period
instruments
outstanding Carrying Carrying Carrying Carrying
Quantity Quantity Quantity Quantity
amount amount amount amount
Convertible
527271028.72100393.88527170634.84
bonds
Total 527271028.72 100393.88 527170634.84
Notes to movements of other equity instruments in the Reporting Period and reasons thereof as well as relevant accounting treatment
bases:
Other notes: The Company’s 10th meeting of the 4th Board of Directors reviewed and approved the Proposal on the Detailed Plan for
the Public Issuance of Convertible Corporate Bonds. On February 19 2020 the Company received from the China Securities
Regulatory Commission (CSRC) the Approval regarding Luxshare Precision Industry Co. Ltd.’s Public Issuance of Convertible
Corporate Bonds (CSRC Approval [2020] No. 247) approving the Company’s public issuance of convertible corporate bonds with an
aggregate par value of RMB3 billion and a term of 6 years. The Company’s RMB3 billion convertible corporate bonds were issued on
the Shenzhen Stock Exchange on December 2 2020 with the bond abbreviation of “Luxshare Convertible Bond” and the bond code
of “128136”.Other notes:
47. Capital reserves
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance
Reporting Period Reporting Period
Capital premium (share
6867571780.002314345349.689181917129.68
premium)
280Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Other capital reserves 678655599.20 560401965.84 476192108.12 762865456.92
Total 7546227379.20 2874747315.52 476192108.12 9944782586.60
Other notes including notes to the movements in the Reporting Period and reasons thereof:
Other notes: Capital reserves - share premium increased by RMB2314345349.68 in the Reporting Period of which
RMB1320463284.14 was attributable to the exercise of share options RMB476192108.12 was transferred from other capital
reserves due to the exercise of share options RMB556728.68 was attributable to the increase in capital reserve arising from the
conversion of convertible corporate bonds into shares and RMB517133228.74 was attributable to other increases.The additions in capital reserves - other capital reserves in the Reporting Period are attributable to an increase of RMB560401965.84
in share-based payment costs while the reductions are due to the transfer of other capital reserves to share premium.
48. Other comprehensive income
Unit: RMB
Current-period amount
Less: Less:
Reclassificati Reclassificati
Opening Pre-tax
Item on from on from Attributable Attributable
Closing
balance amount Less: other other to the parent to minority balance
incurred in Income tax
comprehensi comprehensi company shareholder
Reporting expenses
ve income to ve income to after tax s after tax
Period
current profit retained
or loss earnings
I. Other
Comprehensi
ve Income
that Cannot 97614487.9 42945170.9 7848147.5 46821169.4
4904975.0651726144.48
be 0 4 4 2
Reclassified
as Profit or
Loss
Changes
in fair value
of other 97614487.9 42945170.9 7848147.5 46821169.4
4904975.0651726144.48
investments 0 4 4 2
in equity
instruments
II. Other
Comprehensi
ve Income to - - - -
16751008.61602265.
be 708710609. 877427694. 935961079. 1644671688
5065
Reclassified 32 50 57 .89
as Profit or
Loss
Of which:
Other
comprehensiv
e income that - - --
may be 12815660.0 2563132.0 5573121.7 -4679406.21 4679406.21
reclassified 0 0 9
as profit or
loss under
equity
281Luxshare Precision Industry Co. Ltd. 2025 Annual Report
method
Cash
122048281.19314140.55378642.347355498.
flow hedging 55378642.36
2250636
reserve
Differen
ces arising
from the
translation of - - - -
19819889.
foreign 708710609. 986660315. 986660315. 1695370925
08
currency- 32 72 72 .04
denominated
financial
statements
Total of other - - - -
42945170.924599156.61602265.
comprehensiv 703805634. 779813206. 889139910. 1592945544
40465
e income 26 60 15 .41
Other notes including adjustments to the initial recognition amount of the hedged item for the effective portion of cash flow hedge
gains or losses:
49. Special reserves
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance
Reporting Period Reporting Period
Work safety fund 2196525.51 41371129.96 31787441.86 11780213.61
Total 2196525.51 41371129.96 31787441.86 11780213.61
Other notes including notes to the movements in the Reporting Period and reasons thereof:
50. Surplus reserves
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance
Reporting Period Reporting Period
Other capital reserves 1617520044.25 507712653.32 2125232697.57
Total 1617520044.25 507712653.32 2125232697.57
Notes to surplus reserves including notes to additions/reductions in the Reporting Period and reasons thereof:
51. Retained earnings
Unit: RMB
Item Reporting period Prior period
Retained earnings at the end of the prior
53101139440.5742026971911.25
period before adjustments
Retained earnings at period-beginning
53101139440.5742026971911.25
after adjustments
282Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Plus: Net profit attributable to owners of
16599769785.6413365651026.16
the parent company
Less: Appropriation to statutory surplus
507712653.32173999858.78
reserve
Dividends payable on common
2614609929.142153401833.67
shares
Others -42053654.91 -35918195.61
Retained earnings at period-end 66620640298.66 53101139440.57
Details on adjustment to retained earnings at period-beginning:
1) Retrospective adjustments under the Accounting Standards for Business Enterprises and related new regulations resulted in
RMB0.00 of retained earnings at period-beginning.
2) Changes in accounting policies resulted in RMB0.00 of retained earnings at period-beginning.
3) Corrections of significant accounting errors resulted in RMB0.00 of retained earnings at period-beginning.
4) The change of the scope of consolidation due to business combinations under common control resulted in RMB0.00 of retained
earnings at period-beginning.
5) Other adjustments resulted in RMB0.00 of retained earnings at period-beginning.
Detailed notes to using capital reserves to offset losses:
Note: The “Others” column under “Retained earnings” mainly represents the gains from the disposal of shares in Zhejiang Tony
Electronic Co. Ltd. and the related taxes and fees.
52. Revenue and cost of sales
Unit: RMB
Current-period amount Prior-period amount
Item
Revenue Cost Revenue Cost
Principal business 327647437218.70 289335069454.98 265136042440.22 238369649081.85
Other business 4697005924.69 3420841521.73 3658695172.36 2439768898.74
Total 332344443143.39 292755910976.71 268794737612.58 240809417980.59
Whether the lowest of total audited profit net profit and net profit after deducting non-recurring gains or losses for the Reporting
Period is negative
□ Yes □No
Breakdown of operating revenue and operating costs:
Unit: RMB
Segment 1 Segment 2 Total
Classificatio
n of Operati Operati
contracts Operating ng Operati ng Operati Operating Operating cost Operating cost
revenue revenu ng cost revenu ng cost revenue
e e
283Luxshare Precision Industry Co. Ltd. 2025 Annual Report
By business
type
Incl.:
Consumer 2642659143 2361531490 2642659143 2361531490
electronics 03.66 62.72 03.66 62.72
Automotive 3925537187 3307203929 3925537187 3307203929
electronics 8.90 5.80 8.90 5.80
Communicat
2456761012200466983024567610122004669830
ions and data
8.228.428.228.42
centers
4255546832.3484024309.4255546832.3484024309.
Others
61776177
By operating
region
Incl.:
Domestic 4913566986 4061616359 4913566986 4061616359
sales 5.72 3.35 5.72 3.35
2832087732252139747328320877322521397473
Export sales
77.6783.3677.6783.36
By market or
customer
type
Incl.:
By contract
type
Incl.:
By the
timing of the
transfer of
goods
Incl.:
Recognized
3253623064286619174232536230642866191742
at a point in
43.3935.5243.3935.52
time
284Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Recognized
6982136700.6136736741.6982136700.6136736741.
over a period
00190019
of time
By contract
term
Incl.:
By sales
channel
Incl.:
3323444431292755910933234444312927559109
Direct sales
43.3976.7143.3976.71
3323444431292755910933234444312927559109
Total
43.3976.7143.3976.71
Information related to performance obligations:
Types of
Amounts quality
Timing of Nature of goods
Whether the expected to be assurance
satisfying Key payment promised to be
Item Company acts refunded to offered by the
performance terms transferred by
as principal customers by Company and
obligations the Company
the Company related
obligations
Other notes
Information related to transaction prices allocated to the remaining performance obligations:
At the end of the Reporting Period the amount of revenue corresponding to performance obligations under signed contracts that had
not yet been satisfied or had not yet been fully satisfied was RMB0.00.Information related to variable consideration in contracts:
Significant contract modifications or significant adjustments to transaction prices
Unit: RMB
Item Accounting treatment Amount of impact on revenue
Other notes:
53. Taxes and surcharges
Unit: RMB
Item Current-period amount Prior-period amount
City maintenance & construction tax 290595992.56 187197278.99
Education surcharge 134737844.83 89973288.24
285Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Real estate tax 131900339.14 102848049.47
Land use tax 13366249.27 10692002.96
Stamp duty 187038018.22 171712516.66
Local education surcharge 90797158.10 63333446.42
Others 31149422.79 10992679.00
Total 879585024.91 636749261.74
Other notes:
54. Administrative expenses
Unit: RMB
Item Current-period amount Prior-period amount
Personnel remuneration 5506572243.45 3291003288.36
Depreciation and amortization expenses 1487303525.45 1313585644.28
Materials and consumables 592556811.17 441684750.18
Office expenses 453127492.98 261112275.37
Repair expenses and miscellaneous
356775530.54245249122.98
purchases
Utilities 217303963.26 93925288.27
Lease expenses 121335619.11 74248136.79
Travel and transportation expenses 164308904.89 72675594.95
Assurance consulting and review fees 309641962.13 294529152.90
Corporate service fees 177701334.69 136290129.66
Other expenses 808866845.65 127981183.14
Total 10195494233.32 6352284566.88
Other notes:
55. Selling expenses
Unit: RMB
Item Current-period amount Prior-period amount
Employee benefits 1024209620.49 682250740.68
286Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Warehousing and lease expenses 129268337.76 41138477.88
Consumables and miscellaneous
30303669.3535350941.27
purchases
Entertainment expenses 55970044.48 36256043.62
Depreciation and amortization expenses 40020235.21 13454868.55
Travel and transportation expenses 296690892.56 28255679.74
Material expenses 37124388.83 44466816.13
Consulting fees 289855945.58 27608616.92
Office expenses 2885723.98 3833859.41
Others 427668115.25 147060732.21
Total 2333996973.49 1059676776.41
Other notes:
56. R&D expenses
Unit: RMB
Item Current-period amount Prior-period amount
Personnel remuneration 5817407470.53 4743098552.35
Mold and material expenses 1780309137.53 1532623500.70
Depreciation and amortization expenses 1219539299.58 905914983.86
Consumables and other miscellaneous
439516380.35414999915.67
items
Repairs and testing 638758429.92 440348249.99
Service fees 300765305.77 71461490.74
Utilities 119102021.09 97573364.08
Transportation and travel expenses 92178568.86 67647210.31
Commercial insurance 4901597.34 5138622.27
Lease expenses 58950193.72 28591943.61
Assurance consulting and review fees 290731520.22 63591274.87
Other expenses 665881165.68 184968323.01
287Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Total 11428041090.59 8555957431.46
Other notes:
57. Financial expenses
Unit: RMB
Item Current-period amount Prior-period amount
Interest expense 1765110828.82 1462653485.39
Interest income -997715551.57 -968280395.31
Foreign exchange gains or losses 252210132.79 -1010171618.93
Others 68331202.74 12621880.62
Total 1087936612.78 -503176648.23
Other notes:
58. Other income
Unit: RMB
Sources Current-period amount Prior-period amount
Government grants 827502791.66 933138071.97
Additional deduction of input tax 44103078.98 50878985.48
Instant VAT refund 25968963.73
Service fees for withholding individual
14708302.059186520.44
income tax
Total 912283136.42 993203577.89
59. Gains from changes in fair value
Unit: RMB
Sources of gains from changes in fair
Current-period amount Prior-period amount
value
Financial assets held for trading -614561150.67 -67078837.71
Of which: Gains from changes in
fair value from derivative financial -614561150.67 -67078837.71
instruments
Other non-current financial assets -4032928.03 3911504.56
Total -618594078.70 -63167333.15
288Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Other notes:
60. Investment income
Unit: RMB
Item Current-period amount Prior-period amount
Investment income from long-term
equity investments accounted for using 4265410324.71 3318152092.00
the equity method
Investment income from disposal of
-2404297.0010018847.56
long-term equity investments
Investment income from the disposal of
1712779823.301100723169.18
financial assets held for trading
Investment income from disposal of
-300000.00
other non-current financial assets
Income from derecognition of financial
-593025537.00-795197080.77
assets measured at amortized cost
Investment income from term deposits
large-denomination certificates of
1381217006.92913543627.47
deposit wealth management products
etc.Total 6763977320.93 4546940655.44
Other notes:
61. Losses on credit impairment
Unit: RMB
Item Current-period amount Prior-period amount
Bad debt losses on notes receivable -100398.64 -111900.83
Bad debt losses on accounts receivable -49008996.47 -11571804.07
Bad debt losses on other receivables -15766485.37 1595715.30
Total -64875880.48 -10087989.60
Other notes:
62. Losses on asset impairment
Unit: RMB
Item Current-period amount Prior-period amount
I. Losses on Inventory Depreciation and
Impairment on Contract Performance -1144691778.18 -915719817.70
Cost
289Luxshare Precision Industry Co. Ltd. 2025 Annual Report
II. Losses on Impairment of Long-term
-36410782.10
Equity Investments
IV. Losses on Impairment of Fixed
-320394448.02-293337707.73
Assets
IX. Losses on Impairment of Intangible
-90076931.44
Assets
XI. Losses on Impairment of Contract
10393460.28
Assets
Total -1544769697.36 -1245468307.53
Other notes:
63. Gains on disposal of assets
Unit: RMB
Sources of gains on disposal of assets Current-period amount Prior-period amount
Gains on disposal of fixed assets 40864469.32 33453842.59
Gains on disposal of intangible assets 370101.47 -27187.26
Gains on disposal of right-of-use assets 3369719.27 3199410.73
Total 44604290.06 36626066.06
64. Non-operating revenue
Unit: RMB
Amount recognized as current
Item Current-period amount Prior-period amount non-recurring gains and
losses
Income from breach of
66806529.8939964895.0566806529.89
contract compensation
Income from asset retirement 1439890.80 411576.65 1439890.80
Negative goodwill 479317064.85 368076.97 479317064.85
Others 28098509.20 12858505.25 28098509.20
Total 575661994.74 53603053.92 575661994.74
Other notes:
65. Non-operating expenses
Unit: RMB
Item Current-period amount Prior-period amount Amount recognized as current
non-recurring gains and
290Luxshare Precision Industry Co. Ltd. 2025 Annual Report
losses
External donations 17637049.69 13126197.65 17637049.69
Losses on asset retirement 63462578.23 35454250.29 63462578.23
Compensation liquidated
damages and penalty 64003328.21 33398576.31 64003328.21
expenses
One-off transfer taxes and
23924139.0023924139.00
fees
Others 12879899.68 4760201.73 12879899.68
Total 181906994.81 86739225.98 181906994.81
Other notes:
66. Income tax expenses
(1) Income tax expenses
Unit: RMB
Item Current-period amount Prior-period amount
Current income tax expenses 1773552009.99 1318434467.92
Deferred income tax expenses -393930516.27 211260455.01
Total 1379621493.72 1529694922.93
(2) Reconciliation between accounting profits and income tax expenses
Unit: RMB
Item Current-period amount
Total profits 19549858322.39
Income tax expense calculated at statutory/applicable tax rate 2932478748.36
Effect of application of different tax rates by subsidiaries 189932900.19
Effect of income tax before adjustments -9364561.39
Effect of non-taxable income -974798398.69
Effect of non-deductible costs expenses and losses 24550228.10
Effect of utilizing deductible losses of unrecognized deferred
-529950328.56
income tax assets from prior years
Effect of deductible temporary differences or deductible losses 553738633.89
on deferred income tax assets unrecognized in the Reporting
291Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Period
Changes in opening balance of deferred income tax
9483400.58
assets/liabilities due to adjustment of tax rate
Additional deduction for R&D expenses -793369652.96
Differences from share option exercises -71590037.44
Tax incentives for employment of key groups -10844775.57
Others 19047407.93
Pillar Two - income tax 40307929.28
Income tax expense 1379621493.72
Other notes:
Note 1: The Company falls within the scope of the legislative template for the Global Anti-Base Erosion (GloBE) rules (hereinafter
referred to as the “Pillar Two Legislative Template”). In 2025 certain jurisdictions in which the Company operated had enacted Pillar
Two-related regulations. Based on currently available information the Company assesses the potential exposures related to this year’s
financial performance; however the results of such assessment may not fully reflect actual outcomes in the future. Based on the
assessment results the Company accrues Pillar Two top-up tax of RMB40307929.28 for certain jurisdictions as the effective Pillar
Two tax rate in these jurisdictions is below 15% due to specific tax incentives. Given that additional countries are expected to enact
Pillar Two regulations the Company will continue to monitor legislative developments in the jurisdictions where it operates in order
to evaluate their potential future impact on the financial statements.
67. Other comprehensive income
For details please refer to “xlix. Other comprehensive income”.
68. Items of cash flow statement
(1) Cash relating to operating activities
Other cash received relating to operating activities
Unit: RMB
Item Current-period amount Prior-period amount
Special subsidies and grants 1136094942.62 978065597.45
Rental income 19415201.68 4559939.73
Interest income 997715551.57 968280395.31
Non-operating revenue 96344929.89 53603053.92
Release of restricted funds 28149527.11 1015829661.21
Recovery of current accounts and
2888514413.872669087285.32
advances on behalf of others
Total 5166234566.74 5689425932.94
Notes to other cash received relating to operating activities:
Other cash paid relating to operating activities
292Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Unit: RMB
Item Current-period amount Prior-period amount
Selling expense payments 724630398.02 304480783.35
Administrative expense payments 1552229084.38 1557776270.74
R&D expenditure 1089811432.61 984404201.77
Inter-company transactions 2114087465.08 2196525468.36
Transferred to restricted funds 261691015.27
Non-operating expenses 118444416.58 51284975.69
Service fees 68331202.74 12621880.62
Total 5929225014.68 5107093580.53
Notes to other cash paid relating to operating activities:
(2) Cash relating to investing activities
Other cash received relating to investing activities
Unit: RMB
Item Current-period amount Prior-period amount
Release of restricted funds 15981629.58
Net cash received from acquisition of
5042140259.91
subsidiaries
Margin 93449200.00
Total 5135589459.91 15981629.58
Significant cash received relating to investing activities
Unit: RMB
Item Current-period amount Prior-period amount
Notes to other cash received relating to investing activities:
Other cash paid relating to investing activities
Unit: RMB
Item Current-period amount Prior-period amount
Payment of deposits for equity
69315136.20
acquisition
293Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Transferred to restricted funds 123996470.00 93449200.00
Parent company
TIME Interconnect Singapore
Reclassification of cash flows from
117134987.00
disposal of subsidiaries
Total 310446593.20 93449200.00
Significant cash paid relating to investing activities
Unit: RMB
Item Current-period amount Prior-period amount
Notes to other cash paid relating to investing activities:
(3) Cash relating to financing activities
Other cash received relating to financing activities:
Unit: RMB
Item Current-period amount Prior-period amount
Short-term financing bonds 7200000000.00 6300000000.00
Medium-term notes 3000000000.00
Issuance of convertible bonds 457707250.00
Others 651417.41
Total 10200000000.00 6758358667.41
Notes to other cash received relating to financing activities:
Other cash paid relating to financing activities:
Unit: RMB
Item Current-period amount Prior-period amount
Short-term financing bonds 6200000000.00 2100000000.00
Lease expenses 329788189.20 275253700.68
Financing service fees 9415231.01 8781563.19
Luxshare Precision’s share capital
1110.79
repurchase
Listing and issuance expense payments 9641427.60
294Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Subsidiaries’ repayment of borrowings
1325100000.00
from former shareholders
Payment of capital reduction to minority
1999000000.00
shareholders
Refund of equity payment to minority
98000000.00
shareholders
Total 9872945958.60 2482035263.87
Notes to other cash paid relating to financing activities:
Movements in liabilities from financing activities
□ Applicable □Not applicable
(4) Notes to cash flows presented on a net basis
Item Relevant facts Basis Financial impact
(5) Significant activities not involving current cash flows but affecting the Company’s financial position or potentially impacting
the Company’s future cash flows and their financial effects
69. Supplementary information to cash flow statement
(1) Supplemental information to cash flow statement
Unit: RMB
Supplemental information Amount in the Reporting Period Amount in the prior period
1. Reconciliation of net profit to net cash
flows from operating activities:
Net profit 18170236828.67 14579043817.85
Plus: Provision for asset impairment 1609645577.84 1255556297.13
Depreciation of fixed assets oil-
gas assets and productive biological 12227316262.95 10330052680.58
assets
Depreciation of right-of-use
514345015.67240337082.05
assets
Amortization of intangible assets 521520557.44 260085188.58
Amortization of long-term
467050478.37318136006.30
deferred and prepaid expenses
Losses on disposal of fixed
assets intangible assets and other long- -44604290.06 -36626066.06
lived assets (gains are presented as “-”)
Losses on retirement of fixed
62022687.4335042673.64
assets (gains are presented as “-”)
295Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Losses on changes in fair value
618594078.7063167333.15
(gains are presented as “-”)
Financial expenses (gains are
1765110828.821462653485.39
presented as “-”)
Investment losses (gains are
-6763977320.93-4546940655.44
presented as “-”)
Reductions in deferred tax assets
-637090978.63983198754.74
(additions are presented as “–”)
Additions in deferred tax
liabilities (reductions are presented as 188323089.71 916326231.88
“-”)
Reductions in inventories
-3383469640.87-2032345016.57
(additions are presented as “–”)
Reduction in operating
receivables (additions are presented as 6005578500.39 -23567944319.50
“–”)
Additions in operating
receivables (reductions are presented as -13515955076.68 26857164714.81
“-”)
Others -479317064.85
Net cash flows from operating
17325329533.9727116908208.53
activities
2. Significant investing and financing
activities not involving cash flows
Debt-to-equity conversions
Convertible corporate bonds due
within 1 year
Finance lease of fixed assets
3. Net movements in cash and cash
equivalents:
Closing balance of cash 59340612950.83 47267103006.38
Less: Opening balance of cash 47267103006.38 29684152320.65
Plus: Closing balance of cash
equivalents
Less: Opening balance of cash
equivalents
296Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Net increase in cash and cash
12073509944.4517582950685.73
equivalents
(2) Net cash paid for acquisition of subsidiaries
Unit: RMB
Amount
Cash or cash equivalents paid for business combinations in the Reporting Period 9948004913.48
Incl.:
Of which: Luxshare
233040125.85
Precision Mexico S.A. de C.V.ExcelloX 143392.00
Jiaxing Yongrui Electron Technology Co. Ltd. 569881492.91
Shanghai Luxshare Information Cash-Generating Unit (CGU) 106568879.76
Yanze (Jiangsu) Intelligent Manufacture Co. Ltd. 160000000.00
Slenergy Technology (Anhui) Co. Ltd. 885700.00
Luxshare Precision (M) Sdn Bhd 158124347.96
LEONI Kabel GmbH Germany CDE_H 2816573803.56
LEONI AG HDE_A 1731030457.30
Wingtech Phase II Domestic Factory CGU 3685814683.47
Hong Kong Wingtech & Indonesia Wingtech CGU 365560513.86
Dejinchang CGU 120381516.81
Less: Cash and cash equivalents held by subsidiaries on the acquisition date 11882366379.66
Incl.:
Of which: Luxshare
38985835.73
Precision Mexico S.A. de C.V.ExcelloX 15836.98
Jiaxing Yongrui Electron Technology Co. Ltd. 30663665.20
Shanghai Luxshare Information Cash-Generating Unit (CGU) 15095117.19
Yanze (Jiangsu) Intelligent Manufacture Co. Ltd. 164289818.08
297Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Slenergy Technology (Anhui) Co. Ltd. 13063120.08
Luxshare Precision (M) Sdn Bhd 1216797.36
LEONI Kabel GmbH Germany CDE_H 3245609606.31
LEONI AG HDE_A 6282872524.61
Wingtech Phase II Domestic Factory CGU 316251002.34
Hong Kong Wingtech & Indonesia Wingtech CGU 1609126387.28
Dejinchang CGU 165176668.50
Incl.:
Net cash paid for the acquisition of subsidiaries -1934361466.18
Other notes:
Other notes: In the Reporting Period the cash consideration paid for the acquisition of certain subsidiaries was lower than the acquirees’
balances of cash and cash equivalents at the acquisition date. The resulting negative difference is therefore reclassified as cash received
relating to investing activities.
(3) Net cash received from disposal of subsidiaries
Unit: RMB
Amount
Cash or cash equivalents received from the disposal of
0.00
subsidiaries in the Reporting Period
Incl.:
Castle Rock 0.00
CalDigit Holding
0.00
Limited
Less: Cash and cash equivalents held by subsidiaries on the
117134987.00
date of loss of control
Incl.:
Of which: Castle Rock 78101337.05
CalDigit Holding Limited 39033649.95
Incl.:
Net cash received from the disposal of subsidiaries -117134987.00
Other notes:
298Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(4) Composition of cash and cash equivalents
Unit: RMB
Item Closing balance Opening balance
I. Cash 59340612950.83 47267103006.38
Of which: Cash on hand 408456.76 397054.85
Bank deposits available for
58288254569.2247209722547.17
immediate payment
Other cash and cash equivalents
1051949924.8556983404.36
available for immediate payment
III. Closing Balance of Cash and Cash
59340612950.8347267103006.38
Equivalents
(5) Presentation of cash and cash equivalents that are subject to certain restrictions on their usage
Unit: RMB
Reason for classifying the
Amount in the Reporting
Item Amount in the prior period item as cash and cash
Period
equivalents
(6) Cash and cash equivalents not classified as cash and cash equivalents
Unit: RMB
Reason for not classifying the
Amount in the Reporting
Item Amount in the prior period item as cash and cash
Period
equivalents
Restricted due to deposits for
Other cash and cash
1818563629.52 1092552986.55 notes L/Cs and similar
equivalents
guarantees
Total 1818563629.52 1092552986.55
Other notes:
(7) Notes on other significant activities
Supplier financing arrangements
(1) Terms and conditions of supplier financing arrangements (such as extended payment terms and provision of guarantees)
The Company engages in reverse factoring through a supply chain finance service platform provided by factoring companies to provide
factoring services to relevant suppliers. The factoring company agrees to accept the transfer of accounts receivable owed by the Group
to designated suppliers arising from the suppliers’ sale of goods provision of services and other transactions to the Company and
provides financing services to such suppliers. Suppliers may decide at their own discretion whether to use factoring and participating
suppliers may receive payments from banks in advance. According to the agreement between the Company and the financial service
platform the relevant accounts payable will be paid to the factoring companies within 1 to 12 months after the platform issues digital
certificates or the supplier receives factoring financing disbursement. The Company’s payment terms with suppliers are not changed
as a result of this reverse factoring arrangement and the Company did not provide guarantees to the banks.
(2) Financial liabilities under supplier financing arrangements
299Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Balance at the end of the
Item Closing balance
prior year
Accounts payable 462801709.00 128922854.80
Of which: Amounts received by suppliers from financing providers 462801709.00 128922854.80
(3) Range of payment due dates
Period-end Period-beginning
Within 1 to 12 months Within 1 to 12 months after
after the platform issues the platform issues digital
Financial liabilities under supplier financing arrangements digital certificates or the certificates or the supplier
supplier receives factoring receives factoring financing
financing disbursement disbursement
Comparable financial liabilities not under supplier financing Within 1 to 12 months Within 1 to 12 months upon
arrangements upon receipt of invoices receipt of invoices
70. Notes to the statement of changes in owners’ equity
Notes to the “Others” items adjusted in the closing balance of the prior year including item names and adjustment amounts:
71. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB
Closing balance of foreign Closing balance converted to
Item Conversion rate
currency RMB
Cash and cash equivalents 51423897893.33
Of which: USD 6668102971.66 7.0288 46868762167.20
EUR 380567342.09 8.2355 3134162345.78
HKD 79410214.97 0.9032 71724894.37
JPY 26526549.55 0.0448 1188309.84
TWD 1284336378.32 0.2231 286535446.00
VND 609721406289.14 0.0002673 162978531.90
KRW 9364075525.14 0.0049 45509407.05
GBR 1463314.21 9.4346 13805784.25
INR 5366111383.29 0.0780 418336677.33
SGD 1000173.87 5.4586 5459549.09
300Luxshare Precision Industry Co. Ltd. 2025 Annual Report
MXN 410542025.35 0.3899 160061714.30
THB 239408310.44 0.2225 53272897.83
AUD 236.44 4.6892 1108.71
TRY 1282593.24 0.1631 209246.85
PLN 10631292.39 1.9497 20728211.49
HUF 29456726.00 0.0213 628569.73
RON 11956076.94 1.6134 19290054.10
CZK 763794.38 0.3392 259079.05
TND 3843240.00 2.4050 9242800.04
EGP 68397470.67 0.1471 10058532.04
BRL 320154.56 1.2800 409807.44
PYG 366710639.00 0.0011 392380.38
RSD 33202780.75 0.0701 2327514.93
UAH 17428019.28 0.1658 2890088.44
MAD 85045684.28 0.7689 65388224.82
MYR 1634340.50 1.7319 2830566.61
IDR 158055416815.58 0.0004 67442246.36
PHP 14600.00 0.1190 1737.40
Accounts receivable 32774481718.49
Of which: USD 4058906646.11 7.0288 28529243034.18
EUR 481769725.30 8.2355 3967614572.71
HKD 1527736.86 0.9032 1379882.49
JPY 55023464.00 0.0448 2464886.12
TWD 666153350.46 0.2231 148618812.49
VND 84098394676.87 0.0002673 22479500.90
KRW 37661085.00 0.0049 183032.87
301Luxshare Precision Industry Co. Ltd. 2025 Annual Report
GBR 4384.80 9.4346 41368.83
INR 617587386.59 0.0780 48146495.07
MXN 2176400.71 0.3899 848532.93
THB 240155832.92 0.2225 53439235.79
MYR 12912.81 1.7319 22364.11
Long-term borrowings 4027026.32
Of which: USD
EUR
HKD
JPY 89895000.00 0.0448 4027026.32
Other receivables 1697919026.75
Of which: USD 14116316.15 7.0288 99220762.98
EUR 176625819.97 8.2355 1454601940.36
HKD 141409.30 0.9032 127723.71
JPY 24050264.00 0.0448 1077379.68
TWD 180390294.00 0.2231 40245074.59
VND 19550841863.00 0.0002673 5225940.03
KRW 316581960.00 0.0049 1538588.33
GBR 1271.54 9.4346 11996.47
INR 11566215.34 0.0780 901690.58
SGD 35700.00 5.4586 194872.02
MXN 223149482.18 0.3899 87001296.96
THB 34256994.74 0.2225 7622832.21
MYR 85990.00 1.7319 148928.83
Short-term borrowings 10591531683.93
Of which: USD 1316903525.70 7.0288 9256251501.47
302Luxshare Precision Industry Co. Ltd. 2025 Annual Report
TWD 4789924371.66 0.2231 1068632127.32
VND 316805671747.00 0.0002673 84682156.06
THB 817754434.83 0.2225 181965899.08
Accounts payable 47412730765.75
Of which: USD 5868945948.61 7.0288 41251647283.59
EUR 596593612.07 8.2355 4913246692.20
HKD 3828479.73 0.9032 3457959.46
JPY 384918243.98 0.0448 17243182.58
TWD 386968916.89 0.2231 86332765.36
VND 3828813430374.00 0.0002673 1023441829.94
KRW 52932740.00 0.0049 257253.12
GBR 14194.00 9.4346 133914.71
INR 99203988.61 0.0780 7733843.75
SGD 463568.79 5.4586 2530436.60
MXN 21917011.24 0.3899 8544982.43
THB 314121311.42 0.2225 69897960.10
AUD 62839.60 4.6892 294667.45
MYR 1559606.23 1.7319 2701131.94
HUF 55107321.00 0.0213 1175921.38
PLN 11040417.96 1.9497 21525898.26
TRY 15722609.86 0.1631 2565042.88
Other payables 1107484877.72
Of which: USD 50666265.56 7.0288 356123047.37
EUR 74505927.27 8.2355 613593564.03
HKD 50807063.00 0.9032 45889955.44
JPY 56718868.00 0.0448 2540835.13
303Luxshare Precision Industry Co. Ltd. 2025 Annual Report
TWD 299553812.20 0.2231 66830455.50
VND 12994687945.28 0.0002673 3473480.09
KRW 38666429.00 0.0049 187918.84
GBR 128544.82 9.4346 1212768.96
INR 1061492.29 0.0780 82752.88
SGD 208422.49 5.4586 1137695.00
MXN 14994142.58 0.3899 5845901.31
THB 45704363.12 0.2225 10170089.18
MYR 2017.59 1.7319 3494.33
IDR 167781173.00 0.0004 71592.23
AUD 68525.00 4.6892 321327.43
Other notes:
(2) Notes to foreign operating entities including for significant foreign operating entities primary location of operations
abroad functional currency and basis for its selection as well as the reason for any change of the functional currency.□Applicable □ Not applicable
Basis for selecting
Principal place Functional Change of functional
Name of significant foreign operating entity the functional
of business currency currency
currency
Legal currency of the
Luxshare-ICT (Vietnam) Limited Vietnam VND country of No
registration
Legal currency of the
Luxshare Precision (Van Trung) Limited Vietnam VND country of No
registration
Legal currency of the
Luxshare-ICT (Nghe An) Limited Vietnam VND country of No
registration
Currency primarily
Luxshare Precision Limited Hong Kong USD used in business No
transactions
Currency primarily
LEONI AG Germany EUR used in business No
transactions
Currency primarily
LEONI Bordnetze Verwaltungs-GmbH Germany EUR used in business No
transactions
304Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Currency primarily
LEONI Wiring Systems France S.A.S. France EUR used in business No
transactions
Legal currency of the
LEONI Kabel Polska sp. z o.o. Poland PLN country of No
registration
Legal currency of the
country of
registration and
LEONI HighTemp Solutions GmbH Germany EUR No
currency primarily
used in business
transactions
Legal currency of the
country of
registration and
LEONI Cable Assemblies GmbH CDERA Germany EUR No
currency primarily
used in business
transactions
Legal currency of the
country of
registration and
Leonische Holding Inc. United States USD No
currency primarily
used in business
transactions
Currency primarily
Leoni Cable Solutions Morocco S.A.S.U. Morocco EUR used in business No
transactions
Legal currency of the
country of
registration and
LEONI Cable S.A. de C.V. Mexico MXN No
currency primarily
used in business
transactions
Legal currency of the
country of
registration and
LEONI Cable de Chihuahua S.A. de C.V. Mexico MXN No
currency primarily
used in business
transactions
Legal currency of the
country of
registration and
LEONI Slovakia spol. s r.o. Slovakia EUR No
currency primarily
used in business
transactions
Currency primarily
LEONI Kablo ve Teknolojileri Sanayi ve Ticaret
Turkey EUR used in business No
Ltd. Sirketi
transactions
305Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Currency primarily
LKH LEONI Kabelwerk Kábelgyár Hungária Kft. Hungary EUR used in business No
transactions
72. Leases
(1) The Company as lessee:
□Applicable □ Not applicable
Variable lease payments not covered in the measurement of lease liabilities
□ Applicable □Not applicable
Lease expenses for short-term leases or low-value assets accounted for using the practical expedient
□Applicable □ Not applicable
Amount in the Reporting
Item Amount in the prior period
Period
Interest expenses on lease liabilities 96846766.67 36018332.18
Short-term lease expenses accounted for using the practical
expedient recognized as cost of the related assets or current 196233644.96 117612055.32
profit or loss
Lease expenses for low-value assets accounted for using the
practical expedient recognized as cost of the related assets or
current profit or loss (excluding short-term lease expenses on
low-value assets)
Variable lease payments not covered in the measurement of
lease liabilities recognized as cost of the related assets or
current profit or loss
Of which: Portion arising from sale-and-leaseback transactions
Income from sublease of right-of-use assets
Total cash outflows relating to leases 526021834.16 392865756.00
Related gains or losses arising from sale-and-leaseback
transactions
Cash inflows from sale-and-leaseback transactions
Cash outflows from sale-and-leaseback transactions
Involvement in sale-and-leaseback transactions
VIII. R&D Expenditure
Unit: RMB
Item Current-period amount Prior-period amount
306Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Personnel remuneration 5908220303.93 4743098552.35
Mold and material expenses 1780309137.53 1532623500.70
Depreciation and amortization expenses 1219677791.60 905914983.86
Consumables and other miscellaneous
439516380.35414999915.67
items
Repairs and testing 638758429.92 440348249.99
Service fees 300765305.77 71461490.74
Utilities 119102021.09 97573364.08
Transportation and travel expenses 92178568.86 67647210.31
Commercial insurance 4901597.34 5138622.27
Lease expenses 58950193.72 28591943.61
Assurance consulting and review fees 290731520.22 63591274.87
Other expenses 665881165.68 184968323.01
Total 11518992416.01 8555957431.46
Of which: Expensed R&D expenditure 11428041090.59 8555957431.46
Capitalized R&D expenditure 90951325.42 0.00
i. R&D projects eligible for capitalization
Unit: RMB
Additions in the Reporting Period Reductions in the Reporting Period
Additions due
Opening to change of Closing
Item Reclassified
balance Internal the scope of Recognized as current balance
development Others consolidation as intangible
profit or
expenditure in the assets
loss
Reporting
Period
Development
90951325.42107869591.2480042822.22118778094.44
expenditure
Total 90951325.42 107869591.24 80042822.22 118778094.44
Significant capitalized R&D projects
Estimated Start of Specific basis for
Item R&D progress Expected method
completion date of generating capitalization capitalization
307Luxshare Precision Industry Co. Ltd. 2025 Annual Report
economic benefits
Provision for impairment of development expenditure
Unit: RMB
Additions in the Reductions in the
Item Opening balance Closing balance Impairment testing
Reporting Period Reporting Period
2. Significant outsourced R&D projects in progress
Expected method of generating Criteria and specific basis for
Item
economic benefits capitalization or expensing
Other notes:
IX. Change of the Scope of Consolidation
1. Business combinations not involving enterprises under common control
(1) Business combinations not involving enterprises under common control during the current period
Unit: RMB
Revenue of Net profit of Cash flows of
the acquiree the acquiree the acquiree
Basis for
from the from the from the
Date of Percentage Method of determining
Cost of equity Acquisition acquisition acquisition acquisition
Acquiree equity of equity equity the
acquisition date date to the end date to the date to the
acquisition acquired acquisition acquisition
of the end of the end of the
date
Reporting Reporting Reporting
Period Period Period
Luxshare
Precision January 2 Cash January 2 Acquisition 840740754.7 38147870.5 41844876.6
233040125.8510000.00%
Mexico S.A. 2025 acquisition 2025 of control 1 5 2
de C.V.February Cash February Acquisition 595120380.1 139683599.ExcelloX 143392.00 10000.00% -8701009.98
21 2025 acquisition 21 2025 of control 1 67
Jiaxing
Yongrui -
January Cash January 26 Acquisition 1750558939. 22660548.4
Electron 569881492.91 10000.00% 63350917.6
26 2025 acquisition 2025 of control 70 3
Technology 9
Co. Ltd.Shanghai
--
Luxshare January Cash January 26 Acquisition 1287705803.
106568879.7610000.00%46040288.9430691326.
Information 26 2025 acquisition 2025 of control 85
238
CGU
Yanze
(Jiangsu) - -
May 31 Cash May 31 Acquisition 131752193.2
Intelligent 160000000.00 8000.00% 39664143.5 267018776.
2025 acquisition 2025 of control 7
Manufacture 5 22
Co. Ltd.Slenergy - -August 1 Cash August 1 Acquisition 116519859.2
Technology 885700.00 10000.00% 79307768.5 350338458.2025 acquisition 2025 of control 5
(Anhui) Co. 1 86
308Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Luxshare
Precision August 1 Cash August 1 Acquisition
158124347.9610000.00%27734304.44-6385802.231903708.27
(M) Sdn 2025 acquisition 2025 of control
Bhd
LEONI
Kabel -
July 9 Cash July 9 Acquisition 5763441473. 192888112.GmbH 2816573803.56 10000.00% 729940647.
2025 acquisition 2025 of control 39 18
Germany 24
CDE_H
LEONI AG July 10 Cash July 10 Acquisition 1600021006 258783701. 503971608.
1731030457.305010.00%
HDE_A 2025 acquisition 2025 of control 2.19 53 24
Wingtech
Phase II - -
July 2 Cash July 2 Acquisition 2358896488
Domestic 3685814683.47 10000.00% 350614994. 176539589
2025 acquisition 2025 of control 2.38
Factory 16 5.42
CGU
Hong Kong
Wingtech & -
September Cash September Acquisition 1245323904. 36579567.1
Indonesia 365560513.86 10000.00% 957972071.
16 2025 acquisition 16 2025 of control 93 0
Wingtech 19
CGU
Cash and
Dejinchang December December Acquisition 326842799.9
443997718.60 10000.00% equity 4382844.54 9189348.17
CGU 3 2025 3 2025 of control 6
acquisition
Other notes:
309Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Combination cost and goodwill
Unit: RMB
Luxshare Jiaxing Yongrui Shanghai Yanze (Jiangsu) Slenergy Luxshare LEONI Kabel Hong Kong
Wingtech Phase
Precision Electron Luxshare Intelligent Technology LEONI AG Wingtech & Dejinchang
Combination cost ExcelloX II Domestic
Mexico S.A. Technology Information Manufacture (Anhui) Co. Precision (M) GmbH Germany HDE_A Indonesia CGU
Factory CGU
de C.V. Co. Ltd. CGU Co. Ltd. Ltd. Sdn Bhd CDE_H Wingtech CGU
--Cash 233040125.85 143392.00 569881492.91 106568879.76 160000000.00 885700.00 158124347.96 2816573803.56 1731030457.30 3685814683.47 365560513.86 120381516.81
--Fair value of non-
cash assets
--Fair value of debt
issued or assumed
--Fair value of equity
323616201.79
securities issued
--Fair value of
contingent
consideration
--Fair value at the
acquisition date of
equity interests held
before the
acquisition date
--Others
Total combination
233040125.85143392.00569881492.91106568879.76160000000.00885700.00158124347.962816573803.561731030457.303685814683.47365560513.86443997718.60
cost
Less: Share of the
fair value of -
212872451.40-26759.97532356299.3099551600.03150560099.41133534766.612818300633.512208620692.193475080633.11343785034.86415903980.68
identifiable net assets 42562118.94
acquired
Goodwill / Amount
20167674.45170151.9737525193.617017279.739439900.5943447818.9424589581.35-1726829.96-477590234.89210734050.3621775479.0028093737.92
by which the
combination cost is
310Luxshare Precision Industry Co. Ltd. 2025 Annual Report
less than the share of
the fair value of
identifiable net assets
acquired
Method for determining the fair value of the combination cost
Description of contingent consideration and changes therein
Main reasons for significant goodwill
Other notes:
(3) Identifiable assets and liabilities of the acquiree at the acquisition date
Unit: RMB
Yanze (Jiangsu)
Luxshare Precision Mexico Jiaxing Yongrui Electron Shanghai Luxshare Slenergy Technology Luxshare Precision (M) LEONI Kabel GmbH Wingtech Phase II Domestic Hong Kong Wingtech &
ExcelloX Intelligent Manufacture LEONI AG HDE_A Dejinchang CGU
S.A. de C.V. Technology Co. Ltd. Information CGU (Anhui) Co. Ltd. Sdn Bhd Germany CDE_H Factory CGU Indonesia Wingtech CGU
Co. Ltd.Carrying Fair Carrying Carrying Carrying Carrying
Fair value at Carrying Fair value at Carrying Fair value at Fair value at Fair value at Fair value at Carrying Carrying Carrying Carrying Fair value at Carrying
Fair value at amount at value at amount amount at amount at amount at Fair value at Fair value at Fair value at
the amount at the the amount at the the the the the amount at the amount at the amount at the amount at the the amount at the
the acquisition the the at the the the the the acquisition the acquisition the acquisition
acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition acquisition
date acquisition acquisiti acquisiti acquisition acquisition acquisition date date date
date date date date date date date date date date date date date date
date on date on date date date date
446851327.344249935115836.915836.9116621215112366521147503980145066119405075765401208345688866658687985839151889282110533351914766958912859809223627415822321724001769420892176802648811385019091138483567271846477244748409
Assets:
2.63886.792.583.801.08.98.73.28.22.70.010.663.017.704.395.048.296.695.140.307.14
Cash and cash 38985835. 15836.9 15836.9 30664022.1 30664022.1 15095117.1 15095117.1 164289818 164289818 13063120. 13063120. 1216797.3 1216797.3 324560960 324560960 3604856521. 3604856521. 823356443.3 823356443.3 1609126387. 1609126387. 631346156. 631346156.
38985835.73
equivalents 73 8 8 0 0 9 9 .08 .08 08 08 6 6 6.31 6.31 10 10 8 8 28 28 45 45
69312876.571372277.571372277.196541462.196541462.34074466.34074466.30619026130619026111381743.11381743.1718785551718785554286344268.4286344268.108090148210809014829360621543.9360621543.897414799.897414799.
Receivables 69312876.10
10262678784646.47.4744449.469.4689895.925.9217172626
190666958.190666958.17639611.17639611.85115352.85115352.3267153.63267153.6978748024.978748024.3359876144.3359876144.1578327409.1578327409.351072889.3351072889.3416912868.416912868.
Inventories 215555.76 215555.76
97975959000044171733333333770202
83400071.211101171.173734920.358659874.348180829.13750198413750198413405677213325120712310241181746479.1956363581937292105184810650.5143798640.2835438633.2824079802.530722390.416062785.
Fixed assets 87752047.52 2688659.11 2505237.56
8350596498.60.60.15.34.23549.862.21719364313864
Intangible 56265900.2 37912859.5 465000000. 449400431. 20784685. 18548313. 12065854. 12065854. 41633662.9 41633662.9 649045628.1 649040054.6 168537511.3 162524776.9 100000000.
704677.70704677.70709302.65634048.403897793.483897793.48
assets 4 5 01 95 00 00 04 04 6 6 3 0 5 2 00
2418127.063291478.263291478.2319467838.9319467838.9
Prepayments 2418127.07 146495.96 146495.96 279574.83 279574.83 792958.44 792958.44 618267.44 618267.44 9746039.17 9746039.17 20681352.74 20681352.74
71155
97838474.308153060.008153060.002219095.252219095.25
Right-of-use 97838474. 57976814.2 57976814.2 54243087. 54243087. 175986374. 175986374. 1524859958. 1524859958. 78735637.1 61290531.6
311Luxshare Precision Industry Co. Ltd. 2025 Annual Report
assets 30 7 7 99 99 18 18 42 42 6 4
149839288.9149839288105995330.119167678.381271404.382971404.29992241.28361193.95488761.95488761.967251285.967251285.3433480577.3433480577.1461635002.1465062531.63332919.024456956.1
Other assets 237055.55 237055.55 34711376.29 34711376.29
0.90761532328156949451511717252633
233978875.923267328342596.942596.9633855857.623219121.13754882013715764121728340321672431074219441674206229318354516.8429092.4632936894632479179179543170517944883001421912829142154470011041234061104119370230256078224978932
Liabilities:
2.215549443.771.86.78.78.66.800987.140.112.408.241.939.041.839.099.629.65
3397180603397180605984750074.5984750074.297435324.6297435324.6673185649.673185649.
Borrowings
8.668.664949888585
14225662.503360931.503360931.15530704.815530704.842720470.42720470.4649901894649901894162279.34162279.32012404572012404575128472045.5128472045.1186719888118671988810817544111081754411156001519156001519
Payables 14225662.82
820808009494.62.62110.850.8534341.751.756.596.594.564.56
Deferred tax 10636736.0 8268586.0 8136463.2 9925423.6 84580069.0 80002912.0 235144013.6 225709969.5 59912933.9
1305592.714177482.61265690.70559093.003736971.9655689.0856632.2316279.49
liabilities 5 6 0 1 3 0 8 2 1
Other 42596.9 42596.9 86865587.9 86865587.9 112366088 112366088 161854934 161854934 181688432 181688432 129449591.2 129449591.2 137347226.8 137347226.8
43302.7043302.704785633.134785633.1345743992.0945743992.09
payables 5 5 8 8 9.56 9.56 .75 .75 .65 .65 1 1 9 9
Other 218404317.6 218404317 32992602.3 32992602.3 232119126. 232119126. 12148905. 12148905. 87247208. 87247208. 4266813.1 4266813.1 830418065. 830418065. 6560206926. 6560206926. 1921307522. 1921307522. 16588485.2
86286086.1286286086.129447011.30
liabilities 9 .69 8 8 80 80 09 09 33 33 7 7 47 47 80 80 33 32 4
----
212872451.4209826068532356299.500446091.99551600.079084779.21877923621844840341335347661021042582818300632803806304408424535.4376840996.3475080633.3464817879.343785034.8343641966.0415903980.197694767.
Net assets 26759.9 26759.9 53327758. 54076454.
0.42301432.20.95.61.533.522.9030151125656849
773858
--
Less: Minority 37232262. 36896806. 2199803843. 2184043657.
10765639.10765639.
interests 79 99 11 08
4444
----
Net assets 212872451.4 209826068 532356299. 500446091. 99551600.0 79084779.2 150560099 147587227 133534766 102104258 281830063 280380630 2208620692. 2192797339. 3475080633. 3464817879. 343785034.8 343641966.0 415903980. 197694767.
26759.926759.942562118.43310815.
acquired 0 .42 30 14 3 2 .41 .96 .61 .53 3.52 2.90 19 07 11 25 6 5 68 49
779414
Method for determining the fair value of identifiable assets and liabilities
Contingent liabilities of the acquiree assumed in the business combination:
Other notes:
(4) Gains or losses arising from the remeasurement at fair value of equity interests held before the acquisition date
Whether there were transactions in which a business combination was achieved in stages through multiple transactions and control was obtained during the Reporting Period
□ Yes □No
312Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(5) Relevant explanations where the consideration transferred or the fair value of the acquiree’s identifiable assets and liabilities could not be reasonably determined at the acquisition
date or by the end of the period in which the combination occurred
(6) Other notes
2. Disposal of subsidiaries
Whether there were transactions or events resulting in a loss of control of subsidiaries during the current period
□Yes □ No
Unit: RMB
Difference
Method and
between the
significant Amount of other
consideration
Carrying assumptions comprehensive
received and
amount of the Fair value of the for income related
the share of Percentage
Percentage remaining remaining equity Gains or losses determining to the original
Basis for the net assets of
Consideration of equity Method of equity interest in the arising from the fair value subsidiary’s
Date of determining of the remaining
Name of received at the disposed of disposal at the in the consolidated remeasurement of the equity
loss of the date of subsidiary equity at
subsidiary date of loss of at the date date of loss of consolidated financial of the remaining remaining investment
control loss of attributable to the date of
control of loss of control financial statements at the equity at fair equity at the reclassified to
control the disposed loss of
control statements at date of loss of value date of loss of investment
investment in control
the date of loss control control in the profit or loss or
the
of control consolidated retained
consolidated
financial earnings
financial
statements
statements
Considered as June Did not hold
Castle Income
0.00 0.00% disposal and 30 a majority of 40.00% 49441955.79 101475039.14 52033083.35
Rock approach
reacquisition 2025 board seats
CalDigit Considered as June Did not hold
Holding Income 0.00 0.00% disposal and 30 a majority of 40.00% 75965251.66 24615468.55 -51349783.11
approach
Limited reacquisition 2025 board seats
Other notes:
Whether there were disposals of investments in subsidiaries in stages through multiple transactions resulting in a loss of control during the current period:
□ Yes □No
313Luxshare Precision Industry Co. Ltd. 2025 Annual Report
3. Changes in the scope of consolidation due to other reasons
Description of changes in the scope of consolidation due to other reasons (such as newly established subsidiaries and liquidated
subsidiaries and related information):
1. Changes in the scope of consolidation resulting from newly established subsidiaries of the Company in 2025 are as follows:
Company name Date of establishment
Jiangxi Xiexun Intelligent Equipment Co. Ltd. November 4 2025
Luxshare Precision Industry (Ma’anshan) Co. Ltd. July 15 2025
Luxshare Precision Industry (Handan) Co. Ltd. January 13 2025
Luxshare Precision Intelligent Manufacturing (Kunshan) Co. Ltd. September 19 2025
Luxshare Precision Cayman Limited September 3 2025
Luxshare-ICT (Bac Ninh) Co. Ltd September 12 2025
Kunshan Jinhong Enterprise Management Service Partnership (Limited Partnership) November 21 2025
Hongtao Intelligent Equipment (Kunshan) Co. Ltd. November 21 2025
Luxshare Communications (Shanghai) Co. Limited January 16 2025
Suzhou Xiangcheng Luxshare Precision Industry Co. Ltd. June 13 2025
Suzhou Xiangcheng Luxshare Precision Metal Technology Co. Ltd. June 24 2025
Luxshare Precision Industry (Chuzhou) Technology Co. Ltd. September 4 2025
Luxshare Supply Chain Technology (Shenzhen) Co. Ltd. May 16 2025
Luxshare Supply Chain Technology (Wuxi) Co. Ltd. September 23 2025
Luxshare Precision Industry (Henan) Co. Ltd. January 18 2025
Luxshare Intelligent Electronic (Jiaxing) Co. Ltd. June 10 2025
Luxshare Power (Kunshan) Co. Ltd. May 12 2025
Luxcase Precision Technology (Huangshi) Co. Ltd. July 11 2025
Lishun Precision Technology (Jiashan) Co. Ltd. November 7 2025
Lyntera Co. Ltd. December 8 2025
Leoni Cable Solutions Morocco S.A.S.U. November 3 2025
SpeedTech Industrial Co. Ltd. October 20 2025
314Luxshare Precision Industry Co. Ltd. 2025 Annual Report
ST Investment Holding Corp. October 2 2025
2. Changes in the scope of consolidation resulting from the deregistration of subsidiaries of the Company in 2025 are as follows:
Company name Deregistration date
Cosmo Lab Inc 2025
Cosmo Co USA Inc 2025
Kunshan Xinben New Energy Technology Co. Ltd. December 1 2025
Guangdong Luxshare Merry Electronics Co. Ltd. January 20 2025
Luxshare Precision Industry (Mingguang) Co. Ltd. August 27 2025
Lisen Precision Technology (Kunshan) Co. Ltd. July 17 2025
Zhejiang PUSON Electronic Technology Co. Ltd. May 6 2025
4. Others
X. Interests in Other Entities
1. Interests in subsidiaries
(1) Composition of the Group
Unit: RMB
Principal Shareholding percentage
Name of Registered Place of Nature of Acquisition
place of
subsidiary capital registration business method
business Direct Indirect
Luxshare-ICT
Taiwan Taiwan Marketing
Co. Ltd. 100.00% Establishment
China China business
(Taiwan)
Luxshare ICT
United United Marketing
Inc. (United 100.00% Establishment
States States business
States)
Luxshare-ICT United United Marketing
100.00% Establishment
Europe Ltd. Kingdom Kingdom business
Luxshare
Precision Hong Kong Hong Kong Investment
100.00% Establishment
Technology Co. China China consulting
Ltd.Business
Huzhou Jiuding Processing combination
Electronic Co. Huzhou Huzhou and 100.00% not involving
Ltd. manufacturing enterprises
under
common
315Luxshare Precision Industry Co. Ltd. 2025 Annual Report
control
Yunding
Hong Kong Hong Kong Investment
Technology Co. 100.00% Establishment
China China consulting
Ltd.LUXSHARE- Marketing
Japan Japan 80.00% Establishment
ICT (Japan) business
Korea Luxshare- Republic of Republic of Marketing
100.00% Establishment
ICT Co. Ltd Korea Korea business
Processing
Luxshare India
India Chennai and 100.00% Establishment
Private Limited
manufacturing
Luxshare-ICT Processing
India Private India India and 100.00% Establishment
Limited manufacturing
Business
combination
Rf Micro Devices Processing not involving
(Beijing) Co. Beijing Beijing and 100.00% enterprises
Ltd. manufacturing under
common
control
Business
combination
Rf Micro Devices not involving
Hong Kong Hong Kong Investment
(Hong Kong) 100.00% enterprises
China China consulting
Co. Ltd. under
common
control
Business
combination
Rf Micro Devices not involving
Investment
(Singapore) Co. Singapore Singapore 100.00% enterprises
consulting
Ltd. under
common
control
Luxis Hong Kong Hong Kong
Trading 100.00% Establishment
Technology Ltd. China China
Luxshare
Precision Hong Kong Hong Kong Investment
100.00% Establishment
Investment Co. China China consulting
Ltd.Business
combination
TIME
not involving
Interconnect Hong Kong Hong Kong Investment
69.69% enterprises
Technology China China consulting
under
Limited
common
control
316Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Linkz Cables Processing
Mexico S. de RL Mexico Mexico and 69.69% Establishment
de CV manufacturing
Business
combination
Linkz not involving
Hong Kong Hong Kong
International Trading 69.69% enterprises
China China
Limited under
common
control
Business
combination
Processing not involving
Linkz Industries
Suzhou Suzhou and 69.69% enterprises
(Suzhou) Limited
manufacturing under
common
control
Business
combination
Linkz Processing not involving
International Shanghai Shanghai and 69.69% enterprises
(Shanghai) Ltd. manufacturing under
common
control
Business
combination
not involving
Linkz (Hong Hong Kong Hong Kong Investment
69.69% enterprises
Kong) Limited China China consulting
under
common
control
Business
combination
Kunshan Deqin Processing not involving
Machinery Co. Kunshan Kunshan and 69.69% enterprises
Ltd. manufacturing under
common
control
Business
combination
Hover (Kunshan)
Processing not involving
Electronic
Kunshan Kunshan and 69.69% enterprises
Material Co.manufacturing under
Ltd.common
control
Business
combination
Hover not involving
Hong Kong Hong Kong Investment
Manufacturing 69.69% enterprises
China China consulting
Co. Ltd. under
common
control
Business
Linkz Cables BVI BVI Investment 69.69%
combination
317Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Co. Ltd. consulting not involving
enterprises
under
common
control
Business
combination
Huizhou
Processing not involving
Chuangxiang
Huizhou Huizhou and 69.69% enterprises
Technology Co.manufacturing under
Ltd.common
control
Business
combination
TIME
Processing not involving
Interconnect
Huizhou Huizhou and 69.69% enterprises
Wire Technology
manufacturing under
(Huizhou) Ltd.common
control
Business
TIME combination
Interconnect Processing not involving
Technology Huizhou Huizhou and 69.69% enterprises
(Huizhou) manufacturing under
Limited common
control
TIME
United United Investment
Interconnect 69.69% Establishment
States States consulting
America Inc.Business
combination
Processing not involving
Cosmic M.E. Inc. Japan Japan and 49.78% enterprises
manufacturing under
common
control
TIME
Interconnect United United Investment
69.69% Establishment
Medtech UK Kingdom Kingdom consulting
Limited
Business
combination
TIME
not involving
Interconnect Hong Kong Hong Kong Investment
69.69% enterprises
Industrial (Hong China China consulting
under
Kong) Limited
common
control
Business
combination
TIME
not involving
Interconnect Hong Kong Hong Kong
Trading 69.69% enterprises
Industrial China China
under
Limited
common
control
318Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Business
combination
TIME
not involving
Interconnect Hong Kong Hong Kong
Trading 69.69% enterprises
Wire Technology China China
under
Ltd.common
control
TIME Da
Chuang Processing
Information Shanghai Shanghai and 69.69% Establishment
(Shanghai) Co. manufacturing
Ltd.Business
Da Chuang
combination
Precision
Processing not involving
Intelligent
Kunshan Kunshan and 69.69% enterprises
Manufacturing
manufacturing under
(Kunshan) Co.common
Ltd.control
TIME X-WARE Processing
Technology Dongguan Dongguan and 69.69% Establishment
Limited manufacturing
TIME
Interconnect Processing
Technology Kunshan Kunshan and 69.69% Establishment
(Kunshan) manufacturing
Limited
Jiangxi Time
Interconnect Processing
Precision Wan’an Wan’an and 69.69% Establishment
Industries manufacturing
Limited
Business
combination
Time X-Ware not involving
Hong Kong Hong Kong
Technology Trading 69.69% enterprises
China China
Limited under
common
control
Processing
Da Chuang Hong Kong Hong Kong
and 69.69% Establishment
Precision Limited China China
manufacturing
Da Chuang
Hong Kong Hong Kong Investment
Investment 69.69% Establishment
China China consulting
Limited
Business
combination
TIME
not involving
Interconnect Investment
BVI BVI 69.69% enterprises
Investment consulting
under
Limited
common
control
319Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Business
combination
Luxshare Processing not involving
Precision (M) Malaysia Malaysia and 100.00% enterprises
Sdn Bhd manufacturing under
common
control
Business
combination
not involving
LEONI AG Investment
Germany Germany 50.10% enterprises
HDE_A consulting
under
common
control
Luxshare
Precision Marketing
Singapore Singapore 100.00% Establishment
Singapore Pte. business
Ltd.Processing
ICT Legend S de
Mexico Mexico and 100.00% Establishment
RL de C.V.manufacturing
Business
combination
Cosmo Industries Processing not involving
Dongguan Co. Dongguan Dongguan and 100.00% enterprises
Limited manufacturing under
common
control
Business
combination
Cosmo
Processing not involving
Manufacturing
Thailand Thailand and 100.00% enterprises
Thailand Co.manufacturing under
Limited
common
control
Business
combination
not involving
Cosmo Supply Hong Kong Hong Kong
Trading 100.00% enterprises
Limited China China
under
common
control
Business
combination
not involving
Cosmo Crew Hong Kong Hong Kong Investment
100.00% enterprises
Limited China China consulting
under
common
control
Business
Cosmo
Investment combination
International BVI BVI 100.00%
consulting not involving
Limited enterprises
under
320Luxshare Precision Industry Co. Ltd. 2025 Annual Report
common
control
Business
combination
Cosmo not involving
Cayman Cayman Investment
Corporation 100.00% enterprises
Islands Islands consulting
Cayman Limited under
common
control
Processing
Stellar Prosperity United United
and 100.00% Establishment
LLC States States
manufacturing
Business
combination
LEONI Kabel Processing not involving
GmbH Germany Germany Germany and 85.15% enterprises
CDE_H manufacturing under
common
control
TIME
Interconnect Investment
Singapore Singapore 85.15% Establishment
Singapore Pte. consulting
Ltd.Business
combination
Luxshare Processing not involving
Precision Mexico Mexico Mexico and 100.00% enterprises
SA de C.V. manufacturing under
common
control
Business
combination
not involving
United United Marketing
ExcelloX 100.00% enterprises
States States business
under
common
control
Business
combination
PT Wingtech Processing not involving
Technology Indonesia Indonesia and 100.00% enterprises
Indonesia manufacturing under
common
control
Business
combination
Luxshare
not involving
Communications Hong Kong Hong Kong
Trading 100.00% enterprises
(Hong Kong) China China
under
Co. Limited
common
control
Luxshare Cayman Cayman Investment 100.00% Establishment
Precision
321Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Cayman Limited Islands Islands consulting
Luxshare Hong Kong Hong Kong
Trading 100.00% Establishment
Precision Limited China China
Business
combination
Processing not involving
Taiwan Taiwan
SpeedTech Corp. and 23.64% enterprises
China China
manufacturing under
common
control
Luxshare Processing
Precision (Van Vietnam Vietnam and 100.00% Establishment
Trung) Limited manufacturing
Luxshare-ICT Processing
(Vietnam) Vietnam Vietnam and 100.00% Establishment
Limited manufacturing
Luxshare-ICT Processing
(Nghe An) Vietnam Vietnam and 100.00% Establishment
Limited manufacturing
Luxshare-ICT Processing
(Bac Ninh) Co. Vietnam Vietnam and 100.00% Establishment
Ltd manufacturing
Business
combination
not involving
ICT-Lanto Hong Kong Hong Kong
Trading 100.00% enterprises
Limited (HK) China China
under
common
control
Luxshare
Precision Processing
Industry Baoding Baoding and 100.00% Establishment
(Baoding) Co. manufacturing
Ltd.Xuancheng
Processing
Luxshare
Xuancheng Xuancheng and 100.00% Establishment
Precision
manufacturing
Industry Co. Ltd.Luxshare-ICT
Processing
Electrics
Shanghai Shanghai and 100.00% Establishment
Shanghai Co.manufacturing
Ltd.Luxshare
Precision Processing
Industry Liyang Liyang and 100.00% Establishment
(Jiangsu) Co. manufacturing
Ltd.Luxshare Yancheng Yancheng Processing 100.00% Establishment
Precision and
322Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Industry manufacturing
(Yancheng) Co.Ltd.Luxshare
Processing
Precision
Hefei Hefei and 100.00% Establishment
Industry (Hefei)
manufacturing
Co. Ltd.Luxshare
Processing
Precision
Macheng Macheng and 100.00% Establishment
Industry (Hubei)
manufacturing
Co. Ltd.Luxshare
Automotive Processing
Technology Shanghai Shanghai and 90.00% Establishment
(Shanghai) Co. manufacturing
Ltd.Luxshare
Processing
Precision
Wuhu Wuhu and 100.00% Establishment
Industry (Wuhu)
manufacturing
Co. Ltd.Luxshare
Processing
Precision
Fuyang Fuyang and 100.00% Establishment
Industry (Anhui)
manufacturing
Co. Ltd.Business
Lisheng combination
Intelligent not involving
Technology Chengdu Chengdu R&D center 100.00% enterprises
(Chengdu) Co. under
Ltd. common
control
Business
Lisheng combination
Intelligent not involving
Technology Shanghai Shanghai R&D center 100.00% enterprises
(Shanghai) Co. under
Ltd. common
control
Luxshare
Processing
Precision
Lu’an Lu’an and 100.00% Establishment
Industry (Lu’an)
manufacturing
Co. Ltd.Luxshare
Precision Processing
Industry Handan Handan and 100.00% Establishment
(Handan) Co. manufacturing
Ltd.Luxshare Processing
Precision Ma’anshan Ma’anshan and 100.00% Establishment
Industry manufacturing
(Ma’anshan) Co.
323Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Luxshare
Precision Processing
Industry Kunshan Kunshan and 100.00% Establishment
(Kunshan) Co. manufacturing
Ltd.Bozhou Xuntao Processing
Electronics Co. Bozhou Bozhou and 100.00% Establishment
Ltd. manufacturing
Suining Luxshare Processing
Precision Suining Suining and 100.00% Establishment
Industry Co. Ltd. manufacturing
Business
combination
Bozhou Lanto Processing not involving
Electronic Bozhou Bozhou and 100.00% enterprises
Limited manufacturing under
common
control
Business
combination
Merry
Processing not involving
Electronics
Suzhou Suzhou and 51.00% enterprises
(Suzhou) Co.manufacturing under
Ltd.common
control
Beijing Luxshare
Processing
Acoustics
Beijing Beijing and 100.00% Establishment
Technology Co.manufacturing
Ltd.Shanxi Luxshare Processing
Precision Changzhi Changzhi and 100.00% Establishment
Industry Co. Ltd. manufacturing
Luxshare
Precision
Processing
Intelligent
Kunshan Kunshan and 100.00% Establishment
Manufacturing
manufacturing
(Kunshan) Co.Ltd.Suzhou Lanto Processing
Electronic Co. Suzhou Suzhou and 100.00% Establishment
Ltd. manufacturing
Changzhi
Processing
Luxshare
Changzhi Changzhi and 100.00% Establishment
Precision
manufacturing
Industry Co. Ltd.Processing Business
Lanto Electronic
Kunshan Kunshan and 100.00% combination
Limited
manufacturing not involving
enterprises
324Luxshare Precision Industry Co. Ltd. 2025 Annual Report
under
common
control
Wan’an Xiexun Processing
Electronic Co. Wan’an Wan’an and 100.00% Establishment
Ltd. manufacturing
Business
combination
Yongxin County Processing not involving
Yongxin Yongxin
Asap Electronics and 100.00% enterprises
County County
Co. Ltd. manufacturing under
common
control
Xinyu Xiexun Processing
Electronic Co. Xinyu Xinyu and 100.00% Establishment
Ltd. manufacturing
Jiangxi Asap Processing
Electronics Co. Ji’an Ji’an and 100.00% Establishment
Ltd. manufacturing
Jiangxi Xiexun
Processing
Intelligent
Ji’an Ji’an and 100.00% Establishment
Equipment Co.manufacturing
Ltd.Business
combination
Xiexun Processing involving
Electronic (Ji’an) Ji’an Ji’an and 100.00% enterprises
Co. Ltd. manufacturing under
common
control
Luxshare Power Processing
(Kunshan) Co. Kunshan Kunshan and 87.42% Establishment
Ltd. manufacturing
Business
combination
Asap Technology Processing not involving
(Jiangxi) Co. Ji’an Ji’an and 87.42% enterprises
Ltd. manufacturing under
common
control
Jian’ou JK Processing
Wiring Systems Jian’ou Jian’ou and 100.00% Establishment
Co. Ltd. manufacturing
Business
combination
Processing not involving
Fujian JK Wiring
Fuzhou Fuzhou and 100.00% enterprises
Systems Co. Ltd.manufacturing under
common
control
325Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Business
combination
Luxshare
Processing not involving
Electronic
Kunshan Kunshan and 100.00% enterprises
Technology
manufacturing under
(Kunshan) Ltd.common
control
Shenzhen
Processing
Luxshare
Shenzhen Shenzhen and 100.00% Establishment
Acoustics
manufacturing
Technology Ltd.Fengshun
Processing
Luxshare
Fengshun Fengshun and 100.00% Establishment
Precision
manufacturing
Industry Co. Ltd.Luxshare New Processing
Energy (Anhui) Chuzhou Chuzhou and 100.00% Establishment
Co. Ltd. manufacturing
Business
combination
Slenergy R&D center + not involving
Technology Germany Germany marketing 100.00% enterprises
GmbH business under
common
control
Business
combination
not involving
Slenergy Tec Marketing
Spain Spain 70.00% enterprises
Co. S.L. business
under
common
control
Business
combination
Slenergy Trading + not involving
Hong Kong Hong Kong
Technology (HK) investment 100.00% enterprises
China China
Limited consulting under
common
control
Business
combination
Slenergy
Processing not involving
Technology
Meizhou Meizhou and 100.00% enterprises
(Meizhou) Co.manufacturing under
Ltd.common
control
Business
combination
Slenergy Processing not involving
Technology Chuzhou Chuzhou and 100.00% enterprises
(Anhui) Co. Ltd. manufacturing under
common
control
326Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare
Precision Processing
Industry Chuzhou Chuzhou and 100.00% Establishment
(Chuzhou) Co. manufacturing
Ltd.Business
combination
SuK Processing not involving
Kunststofftechnik Germany Germany and 100.00% enterprises
GmbH manufacturing under
common
control
Business
combination
Luxshare Processing not involving
Automation Kunshan Kunshan and 70.00% enterprises
(Jiangsu) Ltd. manufacturing under
common
control
Business
combination
Merry Electronic Processing not involving
(Huizhou) Co. Huizhou Huizhou and 51.00% enterprises
Ltd. manufacturing under
common
control
Xingning
Processing
Luxshare
Xingning Xingning and 100.00% Establishment
Electronic Co.manufacturing
Ltd.Business
combination
Xinhao
Processing not involving
Photoelectricity
Dongguan Dongguan and 100.00% enterprises
(Dongguan) Co.
manufacturing under
Ltd.common
control
Dongguan
Processing
Luxshare
Dongguan Dongguan and 100.00% Establishment
Precision
manufacturing
Industry Co. Ltd.Jiangxi Luxshare
Processing
Intelligent
Ji’an Ji’an and 100.00% Establishment
Manufacture Co.manufacturing
Ltd.Luxshare Processing
Hong Kong Hong Kong
Standard Limited and 70.00% Establishment
China China
(Hong Kong) manufacturing
Shenzhen
Processing
Luxshare
Shenzhen Shenzhen and 70.00% Establishment
Standard Co.manufacturing
Ltd.
327Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare
Processing
Precision
Enshi Enshi and 100.00% Establishment
Industry (Enshi)
manufacturing
Co. Ltd.Luxshare
Precision Processing
Industry Suzhou Suzhou and 100.00% Establishment
(Suzhou) Co. manufacturing
Ltd.Luxshare
Electronic Processing
Service Jiashan Jiashan and 100.00% Establishment
(Zhejiang) Co. manufacturing
Ltd.Lilian Xunda
Intelligent Processing
Terminal Jiashan Jiashan and 75.00% Establishment
(Jiashan) Co. manufacturing
Ltd.Shanghai Lilian
Processing
Xunda Intelligent
Shanghai Shanghai and 75.00% Establishment
Terminal Co.manufacturing
Ltd.Luxshare ITech Processing
(Zhejiang) Co. Jiashan Jiashan and 100.00% Establishment
Ltd. manufacturing
Luxshare
Precision
Processing
Industry
Chuzhou Chuzhou and 100.00% Establishment
(Chuzhou)
manufacturing
Technology Co.Ltd.Suzhou
Xiangcheng
Processing
Luxshare
Suzhou Suzhou and 100.00% Establishment
Precision Metal
manufacturing
Technology Co.Ltd.Suzhou
Xiangcheng Processing
Luxshare Suzhou Suzhou and 100.00% Establishment
Precision manufacturing
Industry Co. Ltd.Luxshare
Intelligent
Processing
Manufacture
Changshu Changshu and 100.00% Establishment
Technology
manufacturing
(Changshu) Co.
Ltd.Dongguan Dongguan Dongguan Processing 87.42% Business
Xuntao and combination
328Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Electronic Co. manufacturing not involving
Ltd. enterprises
under
common
control
Luxshare Processing
Technologies Kunshan Kunshan and 87.42% Establishment
(Suzhou) Limited manufacturing
Luxshare
Processing
Technologies
Xingning Xingning and 87.42% Establishment
(Xingning)
manufacturing
Limited
Luxshare Processing
Hong Kong Hong Kong
Technologies and 87.42% Establishment
China China
Limited manufacturing
Hangzhou
Processing
Xuntao
Hangzhou Hangzhou and 87.42% Establishment
Technology Co.manufacturing
Ltd.Dongguan
Luxshare Smart- Processing
Link Electronic Dongguan Dongguan and 87.42% Establishment
Technology Co. manufacturing
Ltd.Business
Dongguan combination
Huarong Processing not involving
Communication Dongguan Dongguan and 66.46% enterprises
Technology Co. manufacturing under
Ltd. common
control
Business
Dongguan combination
Huarong Supply Processing not involving
Chain Dongguan Dongguan and 66.46% enterprises
Management Co. manufacturing under
Ltd. common
control
Business
combination
Shenzhen
Processing not involving
Huarong
Shenzhen Shenzhen and 66.46% enterprises
Technologies
manufacturing under
Co. Ltd.common
control
Luxshare
Thermal Processing
Technology Huizhou Huizhou and 61.20% Establishment
(Huizhou) Co. manufacturing
Ltd.Shenzhen Sanhe Shenzhen Shenzhen Processing 87.42% Business
Rongyu and combination
329Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology Co. manufacturing not involving
Ltd. enterprises
under
common
control
Luxshare
Processing
Technologies
Shantou Shantou and 87.42% Establishment
(Shantou)
manufacturing
Limited
Luxshare
United United Marketing
Technologies 87.42% Establishment
States States business
International Inc.Luxshare
Processing
Technologies
Vietnam Vietnam and 87.42% Establishment
(Vietnam) Co.manufacturing
Ltd.Luxshare
Processing
Precision
Xi’an Xi’an and 87.42% Establishment
Technology
manufacturing
(Xi’an) Co. Ltd.Luxshare
Processing
Technologies
Chuzhou Chuzhou and 87.42% Establishment
(Chuzhou)
manufacturing
Limited
Luxshare
Processing
Technologies
Singapore Singapore and 87.42% Establishment
Singapore Pte.manufacturing
Ltd.Luxshare
Processing
Technologies
Mexico Mexico and 87.42% Establishment
Mexico S. de. R.manufacturing
L. de C. V.Dongguan
Processing
Luxshare
Dongguan Dongguan and 87.42% Establishment
Technologies
manufacturing
Co. Ltd.Luxshare
Intelligent
Investment
Equipment Yancheng Yancheng 80.01% Establishment
consulting
(Yancheng) Co.Ltd.Yancheng
Luxshare
Enterprise
Management Investment
Yancheng Yancheng 80.00% Establishment
Service consulting
Partnership
(Limited
Partnership)
330Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Jiashan Luxshare
Intelligent Investment
Jiashan Jiashan 80.01% Establishment
Equipment Co. consulting
Ltd.Jiashan Luxshare
Enterprise
Management
Investment
Service Jiashan Jiashan 80.00% Establishment
consulting
Partnership
(Limited
Partnership)
Changshu
Luxshare
Industrial Investment
Changshu Changshu 100.00% Establishment
Investment consulting
Management Co.Ltd.Hongtao
Intelligent Processing
Equipment Kunshan Kunshan and 80.00% Establishment
(Kunshan) Co. manufacturing
Ltd.Kunshan Jinhong
Enterprise
Management
Investment
Service Suzhou Suzhou 80.01% Establishment
consulting
Partnership
(Limited
Partnership)
Kunshan
Luxshare
Enterprise
Management Investment
Kunshan Kunshan 80.00% Establishment
Service consulting
Partnership
(Limited
Partnership)
Luxshare
Intelligent Processing
Equipment Kunshan Kunshan and 80.01% Establishment
(Kunshan) Co. manufacturing
Ltd.Kunshan
Luxshare
Enterprise Investment
Kunshan Kunshan 100.00% Establishment
Management consulting
Development
Co. Ltd.Luxshare
Processing
Electronic
Enshi Enshi and 100.00% Establishment
Technology
manufacturing
(Enshi) Co. Ltd.
331Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxix
Processing
Technology
Kunshan Kunshan and 100.00% Establishment
(Kunshan) Co.manufacturing
Ltd.Business
combination
Ri-Pei Computer
Processing not involving
Accessory
Shanghai Shanghai and 49.75% enterprises
(Shanghai) Co.manufacturing under
Ltd.common
control
Business
combination
Rishan Computer Processing not involving
Accessory Co. Jiashan Jiashan and 49.75% enterprises
Ltd. manufacturing under
common
control
Business
Riming combination
Computer Processing not involving
Accessory Shanghai Shanghai and 49.75% enterprises
(Shanghai) Co. manufacturing under
Ltd. common
control
Business
Shengrui combination
Electronic Processing not involving
Technology Shanghai Shanghai and 49.75% enterprises
(Shanghai) Co. manufacturing under
Ltd. common
control
Business
combination
Rida Intelligent
Processing not involving
Manufacturing
Rugao Rugao and 49.75% enterprises
Technology
manufacturing under
(Rugao) Co. Ltd.common
control
Business
combination
Casetek not involving
Investment
Singapore Pte. Singapore Singapore 49.75% enterprises
consulting
Ltd. under
common
control
Luxcase
Intelligent Processing
Manufacturing Rugao Rugao and 49.75% Establishment
Technology manufacturing
(Rugao) Co. Ltd.Luxcase
Precision Kunshan Kunshan
Processing 49.75% Establishment
and
Technology
332Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(Kunshan) Co. manufacturing
Ltd.Luxcase
Precision Processing
Technology Vietnam Vietnam and 49.75% Establishment
(Vietnam) Co. manufacturing
Ltd.Luxcase Hong Kong Hong Kong
Trading 49.75% Establishment
Precision Limited China China
Luxcase Korea Republic of Republic of Marketing
49.75% Establishment
Co. Ltd. Korea Korea business
Lijing Precision
Processing
Technology
Jiashan Jiashan and 49.75% Establishment
(Zhejiang) Co.manufacturing
Ltd.Business
Luxcase combination
Precision Processing not involving
Technology Jiangsu Jiangsu and 39.80% enterprises
(Changzhou) Co. manufacturing under
Ltd. common
control
Luxcase
Precision Processing
Technology Hubei Hubei and 49.75% Establishment
(Huangshi) Co. manufacturing
Ltd.Lishun Precision
Processing
Technology
Zhejiang Zhejiang and 25.37% Establishment
(Jiashan) Co.manufacturing
Ltd.Business
Luxcase combination
Precision Processing not involving
Technology Yancheng Yancheng and 49.75% enterprises
(Yancheng) Co. manufacturing under
Ltd. common
control
Huzhou Luxshare Processing
Precision Huzhou Huzhou and 100.00% Establishment
Industry Co. Ltd. manufacturing
Luxsan Precision
Intelligent Processing
Manufacturing Shantou Shantou and 100.00% Establishment
(Shantou) Co. manufacturing
Ltd.Rf Micro Devices Processing Business
(Dezhou) Co. Dezhou Dezhou and 100.00% combination
Ltd. manufacturing not involving
enterprises
333Luxshare Precision Industry Co. Ltd. 2025 Annual Report
under
common
control
Luxis Precision
Intelligent Processing
Manufacturing Kunshan Kunshan and 100.00% Establishment
(Kunshan) Co. manufacturing
Ltd.Luxshare
Intelligent
Manufacturing Processing
Electronic Kunshan Kunshan and 100.00% Establishment
Services manufacturing
(Kunshan) Co.Ltd.Liding Electronic
Processing
Technology
Dongguan Dongguan and 100.00% Establishment
(Dongguan) Co.
manufacturing
Ltd.Luxshare
Precision Processing
Technology Nanjing Nanjing and 100.00% Establishment
(Nanjing) Co. manufacturing
Ltd.Fengshun
Luxshare Processing
Intelligent Fengshun Fengshun and 100.00% Establishment
Manufacturing manufacturing
Co. Ltd.Dongguan
Luxshare Investment
Dongguan Dongguan 100.00% Establishment
Holdings Co. consulting
Ltd.Business
combination
Jiaxing Yongrui
Processing not involving
Electron
Jiaxing Jiaxing and 100.00% enterprises
Technology Co.manufacturing under
Ltd.common
control
Business
combination
Xi’an Luxshare
not involving
Information
Xi’an Xi’an R&D center 100.00% enterprises
Technology Co.under
Ltd.common
control
Business
Wuxi Litong combination
Information
Wuxi Wuxi R&D center 100.00% not involving
Technology Co. enterprises
Ltd. under
common
334Luxshare Precision Industry Co. Ltd. 2025 Annual Report
control
Business
Shanghai combination
Luxshare not involving
Information Shanghai Shanghai R&D center 100.00% enterprises
Technology Co. under
Ltd. common
control
Business
Shanghai combination
Luxshare not involving
Electronic Shanghai Shanghai R&D center 100.00% enterprises
Technology Co. under
Ltd. common
control
Business
Shanghai combination
Wenzhou Processing not involving
Electronic Shanghai Shanghai and 100.00% enterprises
Technology Co. manufacturing under
Ltd. common
control
Business
combination
Huangshi
Processing not involving
Zhitong
Huangshi Huangshi and 100.00% enterprises
Electronics Co.manufacturing under
Ltd.common
control
Business
combination
Kunming
Processing not involving
Zhitong
Kunming Kunming and 100.00% enterprises
Electronics Co.manufacturing under
Ltd.common
control
Business
combination
Shenzhen
Processing not involving
Luxshare Zhitong
Shenzhen Shenzhen and 100.00% enterprises
Technology Co.manufacturing under
Ltd.common
control
Luxshare
Processing
Communications
Shanghai Shanghai and 100.00% Establishment
(Shanghai) Co.manufacturing
Limited
Luxshare
Processing
Precision
Henan Henan and 100.00% Establishment
Industry (Henan)
manufacturing
Co. Ltd.Luxshare Jiangsu Jiangsu Processing 100.00% Establishment
Automotive and
335Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology manufacturing
(Jiangsu) Co.Ltd.Luxshare
Intelligent Processing
Electronic Jiaxing Jiaxing and 100.00% Establishment
(Jiaxing) Co. manufacturing
Ltd.Luxshare Supply
Chain
Wuxi Wuxi Trading 100.00% Establishment
Technology
(Wuxi) Co. Ltd.Luxshare Supply
Chain
Technology Shenzhen Shenzhen Trading 100.00% Establishment
(Shenzhen) Co.Ltd.Business
combination
Kunming
Processing not involving
Luxshare
Kunming Kunming and 100.00% enterprises
Technology Co.manufacturing under
Ltd.common
control
Business
Dongguan combination
Changlong Processing not involving
Communication Dongguan Dongguan and 100.00% enterprises
Technology Co. manufacturing under
Ltd. common
control
Luxshare Energy Processing
(Jiangxi) Co. Ji’an Ji’an and 100.00% Establishment
Ltd. manufacturing
Business
combination
not involving
Cyber Acoustics United United
Trading 16.55% enterprises
LLC (USA) States States
under
common
control
Business
combination
Taihan Precision Processing not involving
Taiwan Taiwan
Technology Co. and 6.88% enterprises
China China
Ltd. manufacturing under
common
control
e-Leader
Processing
Technology
Vietnam Vietnam and 54.18% Establishment
(Vietnam) Co.manufacturing
Ltd.
336Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Business
combination
Dejinchang not involving
Hong Kong Cayman Investment
Investment Co. 69.69% enterprises
China Islands consulting
Ltd. under
common
control
Business
combination
Jin’s Copper not involving
Hong Kong Hong Kong Investment
Industries Co. 69.69% enterprises
China China consulting
Ltd. under
common
control
Business
combination
Huizhou
Processing not involving
Huasheng
Huizhou Huizhou and 69.69% enterprises
Electronic Wire
manufacturing under
Co. Ltd.common
control
Business
Huizhou combination
Dejinchang Processing not involving
Optoelectronics Huizhou Huizhou and 69.69% enterprises
Technology Co. manufacturing under
Ltd. common
control
Business
combination
Huizhou
Processing not involving
Dejinchang New
Huizhou Huizhou and 69.69% enterprises
Materials Co.manufacturing under
Ltd.common
control
Business
combination
Jian Dejinchang
Processing not involving
Optoelectronics
Ji’an Ji’an and 69.69% enterprises
Technology Co.manufacturing under
Ltd.common
control
Business
Nantong combination
Dejinchang not involving
Photoelectric Nantong Nantong R&D center 69.69% enterprises
Technology Co. under
Ltd. common
control
Business
Nantong
Processing combination
Zhenhongchang
Nantong Nantong and 69.69% not involving
Technology Co.manufacturing enterprises
Ltd. under
common
337Luxshare Precision Industry Co. Ltd. 2025 Annual Report
control
Business
Dejinchang combination
Optoelectronics Processing not involving
Technology Thailand Thailand and 69.69% enterprises
(Thailand) Co. manufacturing under
Ltd. common
control
Business
combination
Deshengchang
Processing not involving
New Material
Thailand Thailand and 69.69% enterprises
(Thailand) Co.manufacturing under
Ltd.common
control
Business
DZC
combination
Optoelectronics
Processing not involving
Technology
Vietnam Vietnam and 69.69% enterprises
(Vietnam)
manufacturing under
Company
common
Limited
control
Business
combination
not involving
Leonische United United Investment
85.15% enterprises
Holding Inc. States States consulting
under
common
control
Business
combination
Processing not involving
LEONI Cable United United
and 85.15% enterprises
Inc. States States
manufacturing under
common
control
Business
combination
Processing not involving
LEONI Cable
Mexico Mexico and 85.15% enterprises
S.A. de C.V.manufacturing under
common
control
Business
combination
LEONI Cable de Processing not involving
Chihuahua S.A. Mexico Mexico and 85.15% enterprises
de C.V. manufacturing under
common
control
Processing Business
LEONI
and combination
HighTemp Germany Germany 85.15%
manufacturing not involving
Solutions GmbH
+ R&D center enterprises
under
338Luxshare Precision Industry Co. Ltd. 2025 Annual Report
common
control
Business
combination
LKH LEONI
Processing not involving
Kabelwerk
Hungary Hungary and 85.15% enterprises
Kábelgyár
manufacturing under
Hungária Kft.common
control
Business
combination
Processing not involving
LEONI Kabel
Poland Poland and 85.15% enterprises
Polska sp. z o.o.manufacturing under
common
control
Business
combination
LEONI Kablo ve
Processing not involving
Teknolojileri
Turkey Turkey and 85.15% enterprises
Sanayi ve Ticaret
manufacturing under
Ltd. Sirketi
common
control
Business
combination
LEONI Cable Processing not involving
Solutions RO Romania Romania and 85.15% enterprises
S.R.L. manufacturing under
common
control
Business
combination
LEONI Cable Processing not involving
Assemblies Germany Germany and 85.15% enterprises
GmbH CDERA manufacturing under
common
control
Business
combination
Processing not involving
LEONI Slovakia
Slovakia Slovakia and 85.15% enterprises
spol. s r.o.manufacturing under
common
control
Business
combination
Processing not involving
LEONI Cable
Changzhou Changzhou and 85.15% enterprises
(China) Co. Ltd.
manufacturing under
common
control
Business
LEONI Processing
Bordnetz- Germany Germany and 50.10%
combination
Systeme GmbH manufacturing
not involving
enterprises
339Luxshare Precision Industry Co. Ltd. 2025 Annual Report
WDE_B under
common
control
Business
combination
LEONI
Processing not involving
Automotive do
Brazil Brazil and 50.10% enterprises
Brasil Ltda.manufacturing under
WBR_A
common
control
Business
combination
Processing not involving
LWS Paraguay
Paraguay Paraguay and 50.10% enterprises
WPY_A
manufacturing under
common
control
Business
combination
Leoni
Processing not involving
Kabelsysteme
Germany Germany and 50.10% enterprises
GmbH (formerly
manufacturing under
LKO) WDE_X
common
control
Business
combination
LEONI WS Arad Processing not involving
S.R.L. Romania Romania Romania and 50.10% enterprises
WRO_A manufacturing under
common
control
Business
combination
LEONI WS RO Processing not involving
S.R.L. Romania Romania Romania and 50.10% enterprises
WRO_R manufacturing under
common
control
Business
combination
TOV LEONI WS Processing not involving
UA GmbH Ukraine Ukraine and 50.10% enterprises
Ukraine WUA_U manufacturing under
common
control
Business
combination
LEONI WS UK. Processing not involving
United United
Great Britain and 50.10% enterprises
Kingdom Kingdom
WGB_A manufacturing under
common
control
Business
Leoni Wiring Serbia Serbia Processing 50.10% combination
Systems Serbia and
not involving
340Luxshare Precision Industry Co. Ltd. 2025 Annual Report
WRS_W manufacturing enterprises
under
common
control
Business
combination
LEONI WS Processing not involving
Egypt S.A.E. Egypt Egypt and 50.10% enterprises
Cairo WEG_W manufacturing under
common
control
Business
combination
LEONI Wiring Processing not involving
Systems Agadir Morocco Morocco and 50.10% enterprises
S.A.S.U. manufacturing under
common
control
Business
combination
LEONI WS Processing not involving
(Pune) Pvt. Ltd. India India and 50.10% enterprises
WINPU manufacturing under
common
control
Business
combination
LEONI Wiring Processing not involving
Republic of Republic of
Systems Korea and 50.10% enterprises
Korea Korea
Inc. WKR_D manufacturing under
common
control
Business
combination
LEONI Electric Processing not involving
System (Jining) Jining Jining and 50.10% enterprises
Corporation manufacturing under
common
control
Business
combination
LEONI Electrical
Processing not involving
Systems
Shanghai Shanghai and 50.10% enterprises
(Shanghai) Co.manufacturing under
Ltd.common
control
Business
combination
LEONI Electrical
Processing not involving
Systems
Yantai Yantai and 50.10% enterprises
(Penglai) Co.manufacturing under
Ltd.common
control
LEONI Wiring Tieling Tieling Processing 50.10% Business
System (Tieling) and combination
341Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Co. Ltd. manufacturing not involving
enterprises
under
common
control
Business
combination
KB Kabel not involving
Investment
Beteiligungs- Germany Germany 50.10% enterprises
consulting
GmbH WDENB under
common
control
Business
combination
Processing not involving
LEONI WS Inc. United United
and 50.10% enterprises
WUS_W States States
manufacturing under
common
control
Business
combination
LEONI WS Processing not involving
Mexicana Mexico Mexico and 50.10% enterprises
WMX_M manufacturing under
common
control
Business
combination
LEONI Wiring Processing not involving
Systems de Mexico Mexico and 50.10% enterprises
Durango LWSD manufacturing under
common
control
Business
combination
LEONI WIRING Processing not involving
Systems Yucatan Mexico Mexico and 50.10% enterprises
WMX_Y manufacturing under
common
control
Business
combination
Processing not involving
LWS Services de
Mexico Mexico and 50.10% enterprises
Hermosillo
manufacturing under
common
control
Business
combination
Leonische Processing not involving
Portugal Lda. Portugal Portugal and 50.10% enterprises
WPTGU manufacturing under
common
control
342Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Business
combination
LEONI Wiring Processing not involving
Systems Spain Spain Spain and 50.10% enterprises
S.L.U. CES_F manufacturing under
common
control
Business
combination
Processing not involving
LEONI Italy
Italy Italy and 50.10% enterprises
S.r.l. LIT_V
manufacturing under
common
control
Business
combination
LEONI Wiring Processing not involving
Systems Czech Czech Czech and 50.10% enterprises
s.r.o. WCZ_A manufacturing under
common
control
Business
combination
LEONI Wir. Sys. Processing not involving
Slovak. Sp. s.r.o Slovakia Slovakia and 50.10% enterprises
WSK_A manufacturing under
common
control
Business
combination
Processing not involving
LWS Poland
Poland Poland and 50.10% enterprises
WPL_A
manufacturing under
common
control
Business
LEONI WS combination
Tunisia SARL Processing not involving
Messadine Tunisia Tunisia and 50.10% enterprises
manufacturing under
WTN_G common
control
Business
combination
LEONI Wiring Processing not involving
Systems France France France and 50.10% enterprises
SA WFR_V manufacturing under
common
control
Business
LEONI Wiring Processing combination
Syst. Pitesti Srl Romania Romania and 50.10% not involving
RO WRO_B manufacturing enterprises
under
common
343Luxshare Precision Industry Co. Ltd. 2025 Annual Report
control
Business
combination
LEONI WS
Processing not involving
Turkey Kablo
Turkey Turkey and 50.10% enterprises
Sistemleri
manufacturing under
Limited Sirketi
common
control
Business
combination
LEONI Wiring Processing not involving
Syst. Ain Sebaa Morocco Morocco and 50.10% enterprises
S.A. WMA_V manufacturing under
common
control
Business
combination
LEONI Wiring Processing not involving
Syst. Bouskoura Morocco Morocco and 50.10% enterprises
S.A. WMA_B manufacturing under
common
control
Business
combination
LEONI Wiring Processing not involving
Syst. Berrechid Morocco Morocco and 50.10% enterprises
S.A. WMABV manufacturing under
common
control
Business
combination
LEONI Indust. not involving
Investment
Holding GmbH Germany Germany 50.10% enterprises
consulting
Germany CDER under
common
control
Business
combination
Leoni Cable
Processing not involving
Solutions
Morocco Morocco and 85.15% enterprises
Morocco
manufacturing under
S.A.S.U.common
control
Processing
and
Lyntera Co. Ltd. Japan Japan 100.00% Establishment
manufacturing
+ R&D center
SpeedTech Processing
Taiwan Taiwan
Industrial Co. and 6.88% Establishment
China China
Ltd. manufacturing
ST Investment Taiwan Taiwan Investment
23.64% Establishment
Holding Corp. China China consulting
344Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Explanation of differences between the shareholding percentage and the voting rights percentage in subsidiaries:
Basis for determining control over investees where the Company holds half or less of the voting rights and for determining lack of
control over investees where the Company holds more than half of the voting rights:
Basis for control over significant structured entities included in the scope of consolidation:
Basis for determining whether the Company acts as an agent or a principal:
Other notes:
(2) Significant non-wholly-owned subsidiaries
Unit: RMB
Profit or loss
Shareholding Dividends declared to
attributable to minority Closing balance of
Name of subsidiary percentage of minority minority shareholders
shareholders for the minority interests
shareholders for the current period
current period
Luxcase Precision
Technology 50.25% 911850795.69 9395084093.05
(Yancheng) Co. Ltd.Explanation of differences between the shareholding percentage and the voting rights percentage of minority shareholders in
subsidiaries:
Other notes:
(3) Key financial information of significant non-wholly-owned subsidiaries
Unit: RMB
Closing balance Opening balance
Name of
subsidiary Non- Non- Non- Non-Current Total Current Total Current Total Current Total
current current current current
assets assets liabilities liabilities assets assets liabilities liabilities
assets liabilities assets liabilities
Luxcase
Precision
527005471383547666536024465703981221899477922973716139511863913490253083177363549142832265063
Technology
739.64938.22677.86259.60234.56494.16425.48254.31679.79007.01088.73095.74
(Yancheng)
Co. Ltd.Unit: RMB
Current-period amount Prior-period amount
Name of
subsidiary Total Cash flows Total Cash flows Operating Operating
Net profit comprehensive from operating Net profit comprehensive from operating
revenue revenue
income activities income activities
Luxcase
Precision
82826829912.1805800424.1983481599.16897149807.91031818462.1515310752.1652200287.8840659814.
Technology
9835678624670727
(Yancheng)
Co. Ltd.Other notes:
345Luxshare Precision Industry Co. Ltd. 2025 Annual Report
2. Interests in joint ventures or associates
(1) Aggregated financial information of immaterial joint ventures and associates
Unit: RMB
Closing balance/Current-period amount Opening balance/Prior-period amount
Joint ventures:
Aggregate carrying amount of
134027582.68144667266.46
investments
Aggregate amounts of the following
items calculated according to the
shareholding percentage
-- Net profit 14169820.29 17144827.70
-- Other comprehensive income -141749.26
-- Total comprehensive income 14028071.03 17144827.70
Associates:
Aggregate carrying amount of
11875669084.177343628667.55
investments
Aggregate amounts of the following
items calculated according to the
shareholding percentage
-- Net profit 4251240504.42 3301007264.30
-- Other comprehensive income -12673910.74 -6025193.24
-- Total comprehensive income 4238566593.68 3294982071.06
Other notes:
XI. Government Grants
1. Government grants recognized based on the receivable amount at the end of the Reporting Period
□ Applicable □Not applicable
Reasons for failure to receive the expected amount of government grants at the expected time
□ Applicable □Not applicable
2. Liability items involving government grants
□Applicable □ Not applicable
Unit: RMB
Amount Amount Grants newly Other
transferred to
Accounting Opening received during recognized changes Related to
other income Closing balance
item balance the current in non- during assets/income
operating for the current period the
income for period current
346Luxshare Precision Industry Co. Ltd. 2025 Annual Report
the current period
period
Government
Deferred
649108632.44 718357206.71 229045328.68 1138420510.47 grants related
income
to assets
3. Government grants recognized in profit or loss for the current period
□Applicable □ Not applicable
Unit: RMB
Accounting item Current-period amount Prior-period amount
Government grants related to assets 229045328.68 171636897.69
Government grants related to income 598457462.98 762351174.28
Total 827502791.66 933988071.97
Other notes:
XII. Risks Related to Financial Instruments
1. Various risks arising from financial instruments
1. Credit risk
Credit risk refers to the risk that one party to a financial instrument fails to perform its obligations causing the other party to incur a
financial loss. The Company is primarily exposed to customer credit risk arising from sales on credit. Before entering into a new
contract the Company assesses the credit risk of the new customer including external credit ratings and in certain cases bank
references where such information is available. The Company sets a credit limit for each customer which represents the maximum
amount of credit sales that may be made without additional approval.The Company ensures that its overall credit risk remains within a controllable range through quarterly monitoring of the credit ratings
of existing customers and monthly reviews of the aging analysis of accounts receivable. In monitoring customer credit risk customers
are grouped according to their credit characteristics. Customers rated as “high risk” are placed on the restricted customer list and the
Company may make sales on credit to them in future periods only with additional approval; otherwise the relevant amounts must be
paid in advance.
2. Liquidity risk
Liquidity risk refers to the risk that an entity may encounter a shortage of funds when fulfilling obligations that are settled by delivering
cash or other financial assets.The Company’s policy is to ensure that it has sufficient cash to repay debts as they fall due. Liquidity risk is centrally managed by the
Company’s finance department. The finance department monitors cash balances readily realizable marketable securities and rolling
forecasts of cash flows over the next 12 months to ensure that the Company has sufficient funds to repay debts under all reasonably
foreseeable circumstances. It also continuously monitors the Company’s compliance with the provisions of its borrowing agreements
and obtains commitments from major financial institutions to provide sufficient standby funding to meet short-term and long-term
funding needs.The Company’s financial liabilities are presented below by maturity date based on undiscounted contractual cash flows:
Closing balance
Item
Repayable Total undiscounted
Within 1 year 1-2 years 2-5 years Over 5 years Carrying amount
on demand contractual amount
Notes
3102096141.203102096141.203102096141.20
payable
347Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Closing balance
Item
Repayable Total undiscounted
Within 1 year 1-2 years 2-5 years Over 5 years Carrying amount
on demand contractual amount
Accounts
80910608802.6280910608802.6280910608802.62
payable
Other
2320728981.712320728981.712320728981.71
payables
Other current
liabilities
(excluding
1126438162.381126438162.381126438162.38
short-term
financing
bonds)
Other current
liabilities
(short-term 6075548383.56 6075548383.56 6024479013.69
financing
bonds)
Short-term
borrowings 60594540482.95 60594540482.95 60137739468.49
and interest
Long-term
borrowings
10239696299.8310239696299.8310126584882.92
due within
one year
Bonds
payable
466442043.
(SpeedTech 994002.71 467436046.64 436185443.70
93
convertible
bonds)
Bonds
payable 64350000.0
64350000.003005266250.003133966250.003055651981.52
(medium- 0
term notes)
Long-term
663727600923467922.0
borrowings 391085270.40 9455576803.97 17407406005.72 16441982591.33
9.314
and interest
Long-term
2999320.762999320.762999320.76
payables
Luxshare-ICT
convertible 3058702450.06 3058702450.06 2950609273.76
bonds
Long-term 36340041.17 36340041.17 36340041.17
payables due
348Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Closing balance
Item
Repayable Total undiscounted
Within 1 year 1-2 years 2-5 years Over 5 years Carrying amount
on demand contractual amount
within one
year
167921129018.671710673712460843053.9923467922.0188476507368.6186672444105.2
Total
04.007405
Balance at the end of the prior year
Item
Repayable Total undiscounted
Within 1 year 1-2 years 2-5 years Over 5 years Carrying amount
on demand contractual amount
Notes payable 878335711.94 878335711.94 878335711.94
Accounts
65087993138.6465087993138.6465087993138.64
payable
Other payables 502369570.62 502369570.62 502369570.62
Short-term
borrowings 35355677012.42 35355677012.42 35313128924.26
and interest
Non-current
liabilities due
2292266600.452292266600.452256471507.26
within one
year
Long-term
129889220
borrowings 6784208017.24 875752053.82 20648882111.82 19619741634.77
40.76
and interest
Other current
liabilities
(short-term 5075178904.11 5075178904.11 5039811780.82
financing
bonds)
129889220
Total 109191820938.18 6784208017.24 875752053.82 129840703050.00 128697852268.31
40.76
As at the end of the Reporting Period the Company’s lease liabilities due within one year amounted to RMB587395889.39 and the
remaining balance of lease liabilities was RMB2352692973.58.
3. Market risk
Market risk of financial instruments refers to the risk that the fair value or future cash flows of financial instruments may fluctuate due
to changes in market prices including exchange rate risk interest rate risk and other price risk.
(1) Interest rate risk
349Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Interest rate risk refers to the risk that the fair value or future cash flows of financial instruments may fluctuate due to changes in market
interest rates.Interest-bearing financial instruments with fixed interest rates and floating interest rates expose the Company to fair value interest rate
risk and cash flow interest rate risk respectively. The Company determines the mix of fixed-rate and floating-rate instruments based
on the market environment and it maintains an appropriate portfolio of fixed-rate and floating-rate instruments through regular review
and monitoring. When necessary the Company uses interest rate swaps to hedge interest rate risk.
(2) Exchange rate risk
Exchange rate risk refers to the risk that the fair value or future cash flows of financial instruments may fluctuate due to changes in
foreign exchange rates.The Company continuously monitors the scale of its foreign currency transactions and foreign currency assets and liabilities in order
to minimize its exposure to exchange rate risk. In addition the Company may enter into forward foreign exchange contracts or currency
swap contracts to hedge against exchange rate risk. During the current period and the prior period the Company did not enter into any
forward foreign exchange contracts or currency swap contracts.The exchange rate risk to which the Company is exposed mainly arises from financial assets and financial liabilities denominated in
U.S. dollars. For the amounts of foreign currency financial assets and foreign currency financial liabilities translated into RMB please
refer to foreign currency monetary items.
(3) Other price risk
Other price risk refers to the risk that the fair value or future cash flows of financial instruments may fluctuate due to changes in market
prices other than those arising from exchange rate risk and interest rate risk.The Company’s other price risk mainly arises from various investments in equity instruments which are exposed to the risk of changes
in equity instrument prices.Item Closing balance Balance at the end of the prior year
Investments in other equity instruments 129258425.14 65001637.56
Total 129258425.14 65001637.56
2. Hedging
(1) The Company conducts hedging business for risk management purposes
□Applicable □ Not applicable
Economic
relationship Expected
Corresponding Qualitative and Effect of the
between the effectiveness in
risk management quantitative corresponding
Item hedged item and achieving the risk
strategy and information on the hedging business
the related management
objective hedged risk on risk exposure
hedging objective
instrument
The Company The approval By conducting
expects to procedures for the hedging business
generate Company’s foreign the Company can
significant foreign exchange hedging The cash flows of make full use of
currency receipts business using its the expected the hedging
and payments in own funds comply receipts and function of the
Cash flow hedge – Romanian leu with relevant payments and derivatives
foreign exchange (RON) Mexican national laws and those of the Achieved market hedge
forward contracts pesos (MXN) and regulations and the foreign exchange against the risk of
other currencies Company’s forward contracts price fluctuations
during its Administrative move in opposite arising from
operations. When Measures for directions. foreign exchange
exchange rates Foreign Exchange rate movements
fluctuate Hedging Business. and reduce their
significantly For the cash flow impact on the
foreign exchange hedges conducted Company’s
350Luxshare Precision Industry Co. Ltd. 2025 Annual Report
risk will have a by the Company regular operations.certain impact on during the current
the Company’s period the amount
financial position of other
and operating comprehensive
results. To income recognized
effectively hedge at the end of the
risks in the foreign period was
exchange market RMB55378642.36.and prevent
exchange rate
fluctuations from
adversely
affecting its
financial position
and operating
results the
Company
conducts foreign
exchange hedging
business.Other notes
(2) The Company conducts qualifying hedging business and applies hedge accounting
Unit: RMB
Cumulative fair value
Carrying amount hedge adjustments Effect of hedge
Sources of hedge
related to the hedged included in the accounting on the
Item effectiveness and
item and the hedging recognized carrying Company’s financial
hedge ineffectiveness
instrument value of the hedged statements
item
Type of hedged risk
At the time of
designation the
hedging instrument and Net after-tax amount of
Risk of exchange rate
the hedged item are other comprehensive
fluctuations in 55378642.36 55378642.36
matched with the income:
expected receipts
expected future cash RMB55378642.36
flows and the hedges
are effective.Types of hedge
At the time of
designation the
hedging instrument and Net after-tax amount of
the hedged item are other comprehensive
Cash flow hedge 55378642.36 55378642.36
matched with the income:
expected future cash RMB55378642.36
flows and the hedges
are effective.Other notes
(3) The Company undertakes hedging business for risk management purposes that is expected to achieve the risk management
objectives but hedge accounting is not applied.□ Applicable □Not applicable
351Luxshare Precision Industry Co. Ltd. 2025 Annual Report
3. Financial assets
(1) Classification by method of transfer
□Applicable □ Not applicable
Unit: RMB
Nature of transferred Amount of transferred Basis for determining
Method of transfer Derecognition status
financial assets financial assets derecognition status
Transfer of risks and
Sale Accounts receivable 27762344985.74 Derecognized
rewards
Discounting and Transfer of risks and
Receivables financing 5212118873.53 Derecognized
endorsement rewards
Discounting and
Notes receivable 868309371.99 Not derecognized
endorsement
Total 33842773231.26
(2) Financial assets derecognized due to transfer
□Applicable □ Not applicable
Unit: RMB
Method of transfer of Amount of financial assets Gain or loss related to
Item
financial assets derecognized derecognition
Accounts receivable Sale 27762344985.74 -328437371.09
Receivables financing Discounting and endorsement 5212118873.53 -264588165.91
Total 32974463859.27 -593025537.00
(3) Transferred financial assets with continuing involvement
□Applicable □ Not applicable
Unit: RMB
Amount of assets arising from Amount of liabilities arising
Item Method of asset transfer
continuing involvement from continuing involvement
Notes receivable Discounting and endorsement 346149039.11 346149039.11
Total 346149039.11 346149039.11
Other notes
XIII. Disclosure of Fair Value
1. Closing fair value of assets and liabilities measured at fair value
Unit: RMB
Item Closing fair value
352Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Level 1 fair value Level 2 fair value Level 3 fair value
Total
measurement measurement measurement
I. Recurring Fair Value
--------
Measurement
(I) Financial assets
174828632.492770200051.302945028683.79
held for trading
1. Financial assets
measured at fair value 174828632.49 2770200051.30 2945028683.79
through profit or loss
(3) Derivative financial
71865066.322770200051.302842065117.62
assets
(4) Others 102963566.17 102963566.17
iii. Investments in other
129258425.1490203210.06219461635.20
equity instruments
iii. Receivables
1263239984.561263239984.56
financing
iv. Other non-current
37637104.3937637104.39
financial assets
Total assets measured
at fair value on a 129258425.14 174828632.49 4161280350.31 4465367407.94
recurring basis
vi. Financial liabilities
462340908.58462340908.58
held for trading
Derivative
424219343.62424219343.62
financial liabilities
Others 38121564.96 38121564.96
Total liabilities
measured at fair value 462340908.58 462340908.58
on a recurring basis
II. Non-recurring Fair
--------
Value Measurements
2. Basis for determining market prices for items measured at Level 1 fair value on a recurring and non-recurring basis
Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that are available at the measurement
date.
3. Valuation techniques used and qualitative and quantitative information about significant inputs for items measured at Level
2 fair value on a recurring and non-recurring basis
Level 2 inputs are inputs other than Level 1 inputs that are observable for the related asset or liability either directly or indirectly.
353Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4. Valuation techniques used and qualitative and quantitative information about significant inputs for items measured at Level
3 fair value on a recurring and non-recurring basis
Level 3 inputs are unobservable inputs for the related asset or liability.
5. Reconciliation of opening and closing carrying values and sensitivity analysis of unobservable inputs for items measured at
Level 3 fair value on a recurring basis
None.
6. Transfers between levels during the current period for items measured at fair value on a recurring basis reasons for the
transfers and the policy for determining when transfers are deemed to have occurred
None.
7. Changes in valuation techniques during the current period and reasons for the changes
None.
8. Fair value of financial assets and financial liabilities not measured at fair value
None.
9. Others
None.XIV. Related Parties and Related-Party Transactions
1. Information about the Company’s parent company
Parent company’s Parent company’s
Name of parent Place of shareholding percentage of
Nature of business Registered capital
company registration percentage in the voting rights in the
Company Company
Luxshare Limited Hong Kong Industry HKD10000 37.49%
Description of the Company’s parent company
The ultimate controllers of the Company are Wang Laichun and Wang Laisheng.Other notes:
As at December 31 2025 the number of shares pledged by Luxshare Limited represented 37.00% of the shares it held.
2. Information about the Company’s subsidiaries
For information about the Company’s subsidiaries please refer to “X. Interests in Other Entities”.
3. Information about the Company’s joint ventures and associates
For information about the Company’s significant joint ventures or associates please refer to “X. Interests in Other Entities”.Other joint ventures or associates that had related-party transactions with the Company during the current period or had balances
arising from related-party transactions with the Company in prior periods are as follows:
Name of joint venture or associate Relationship with the Company
Non-controlling equity investee of a second-tier subsidiary of
Reel Mask Industry Co. Ltd.the Company
Non-controlling equity investee of a second-tier subsidiary of
AIOTEK Co. Ltd.the Company
Non-controlling equity investee of the Company’s controlled
Lihao Optoelectronic Technology (Nantong) Co. Ltd.subsidiary
354Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Non-controlling equity investee of the Company’s controlled
Merry & Luxshare (Vietnam) Co. Ltd.subsidiary
Non-controlling equity investee of the Company’s controlled
Langfang Leoni Wiring Systems Co. Ltd.subsidiary
Zhuhai Kinwong Flexible Circuit Co. Ltd. Associate of the Company
Lisheng Automotive Technology (Guangzhou) Co. Ltd. Associate of the Company
Other notes:
4. Information on other related parties
Name of other related party Relationship with the Company
BCS Automotive Technology (Shenzhen) Co. Ltd. Entity controlled by the Company’s parent company
BCS Automotive Technology (Suzhou) Co. Ltd. Entity controlled by the Company’s parent company
BCS Automotive Interface Solutions GmbH (Germany) Entity controlled by the Company’s parent company
BCS Automotive Interface Solutions US LLC (USA) Entity controlled by the Company’s parent company
BCS Automotive Interface Solutions Romania s.r.l. (Romania) Entity controlled by the Company’s parent company
BCS Automotive Interface Solutions s.r.o. (Czech) Entity controlled by the Company’s parent company
BCS-AIS Ensambles Mexico S. de R.L. de C.V.Entity controlled by the Company’s parent company
BCS AIS Japan Co. Ltd. Entity controlled by the Company’s parent company
BCS Automotive Interface Solutions Queretaro S. de R.L. de
Entity controlled by the Company’s parent company
C.V.BCS AIS Queretaro Dos S. de R.L. de C.V. Entity controlled by the Company’s parent company
BCS Automotive Interface Solutions s.r.o. Entity controlled by the Company’s parent company
Luxsan Technology (Kunshan) Co. Ltd. Entity controlled by the Company’s parent company
Luxsan Precision Intelligent Manufacture (Kunshan) Co. Ltd. Entity controlled by the Company’s parent company
Luxsan Investment (Jiangsu) Co. Ltd. Entity controlled by the Company’s parent company
Luxsan Intelligent Equipment (Kunshan) Co. Ltd. Entity controlled by the Company’s parent company
Luxsan Technology Limited Entity controlled by the Company’s parent company
Luxsan (Hong Kong) Trading Limited Entity controlled by the Company’s parent company
355Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxsan Precision Industry (Kunshan) Co. Ltd. Entity controlled by the Company’s parent company
Luxsan Intelligent Manufacturing Electronics (Shanghai) Co.Entity controlled by the Company’s parent company
Ltd.Luxvisions Innovation Technology Limited Other related party
Luxvisions Innovation Technology (Nghe An) Limited Other related party
Luxvisions Innovation Technology Limited Other related party
Luxvisions Innovation Technology (Ji’an) Co. Ltd. Other related party
Dongguan Cowell Optic Electronics Ltd. Other related party
Dongguan Luxsense Innovation Electronics Limited Other related party
Shangrao Luxvisions Innovation Technology Co. Ltd. Other related party
Cowell Optic Electronics Ltd. Other related party
Guangzhou Lizhi Perception Technology Co. Ltd. Other related party
Luxcolight Optics (Dongguan) Company Limited Other related party
Dongguan Teleray Leather Goods Co. Ltd. Other related party
Teleray Smart Technologies (Dongguan) Co. Ltd. Other related party
Teleray (Hong Kong) International Company Limited Other related party
Teleray Smart Technologies (Guilin) Co. Ltd. Other related party
Dongguan DLC Leather Products Co. Ltd. Other related party
Guangdong Lide Adhesive Precision Components Co. Ltd. Other related party
Anhui Lide Automotive Components Co. Ltd. Other related party
Lide Hong Kong International Co. Ltd. Other related party
Chery Automobile Co. Ltd. Other related party
Chery Automobile Henan Co. Ltd. Other related party
Chery Commercial Vehicle (Anhui) Company Limited Other related party
Chery New Energy Automotive Co. Ltd. Other related party
Anhui Zhuodun Security Technology Co. Ltd. Other related party
Dowell (Wuhu) Automotive Co. Ltd. Other related party
356Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Southeast (Fujian) Motor Corporation Ltd. Other related party
Ruijing (Anhui) Supply Chain Technology Co. Ltd. Other related party
Wuhu Acteco Powertrain Co. Ltd. Other related party
Wuhu Qida Power Battery Systems Co. Ltd. Other related party
Wuhu Chery Automotive Parts Procurement Co. Ltd. Other related party
ZDrive.ai Other related party
Xinhao Photoelectric Technology (HK) Limited Other related party
Shenzhen Xinhao Photoelectricity Technology Co. Ltd. Other related party
Slenergy Technology (Anhui) Co. Ltd. Other related party
Dahao Technology (Dongguan) Co. Ltd. Other related party
Xinhao Photoelectricity (Enshi) Co. Ltd. Other related party
Xinhao Photoelectricity (Chuzhou) Co. Ltd. Other related party
Xunhao Photoelectricity (Chuzhou) Co. Ltd. Other related party
Xunmu Information Technology (Shanghai) Co. Ltd. Entity controlled by the actual controller
Lishan Intelligent Manufacture Technology (Guangdong) Co.Entity controlled by the actual controller
Ltd.Other notes:
5. Related-party transactions
(1) Related-party transactions involving purchases and sales of goods and provision and receipt of services
Table of Purchases of Goods/Receipt of Services
Unit: RMB
Whether the
Content of related- Current-period Approved Prior-period
Related party transaction limit
party transaction amount transaction limit amount
was exceeded
Reel Mask Processing
5157380.47 No 11676783.04
Industry Co. Ltd. services
Equipment and
AIOTEK Co. Ltd. 2179794.07 No 21317.70
appliances
AIOTEK Co. Ltd. Purchase of goods 50641581.63 No 38009538.53
AIOTEK Co. Ltd. Other services No 200986.80
357Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Lease of fixed
AIOTEK Co. Ltd. 44775.36 No
assets as lessee
BCS Automotive
Technology Purchase of fixed
No
(Shenzhen) Co. assets
Ltd.BCS Automotive
Technology Purchase of goods 6703924.57 15000000.00 No 4730893.90
(Suzhou) Co. Ltd.BCS Automotive
Purchase of fixed
Technology 487311.00 No 404514.30
assets
(Suzhou) Co. Ltd.BCS Automotive
Technology Service fees 3503888.00 No
(Suzhou) Co. Ltd.BCS Automotive Purchase of goods
Interface Solutions services and fixed 1111324.82 No 3511373.54
GmbH (Germany) assets
BCS Automotive
Interface Solutions Purchase of goods 10000000.00 No 2742393.36
US LLC (USA)
BCS Automotive
Interface Solutions Service fees 4405836.06 No 2069324.00
US LLC (USA)
BCS Automotive
Interface Solutions
Purchase of goods 37712688.39 70000000.00 No 28954288.18
Romania s.r.l.(Romania)
Luxvisions
Innovation
Purchase of goods 49423038.47 No 8970533.02
Technology
Limited
Luxvisions
Innovation Purchase of fixed
4427654.20 No
Technology assets
Limited
Luxvisions
Innovation
Service fees 7698259.53 No 3739220.73
Technology
Limited
Luxvisions
Innovation Lease of fixed
4500.00 No
Technology assets as lessee
Limited
Luxvisions Rent and utilities No 1173816.51
Innovation
358Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology (Ji’an)
Co. Ltd.Shangrao
Luxvisions
Innovation Purchase of goods 64504.19 No
Technology Co.Ltd.Luxvisions
Innovation
Purchase of goods 625549.33 No 161635.61
Technology
Limited
Luxvisions
Innovation
Purchase of goods 742337.88 No
Technology (Nghe
An) Limited
Dongguan Cowell
Optic Electronics Service fees 11265140.20 35000000.00 No 8755540.47
Ltd.Dongguan Cowell
Purchase of fixed
Optic Electronics 838621.41 No
assets
Ltd.Cowell Optic
Service fees 27380.20 No
Electronics Ltd.Lisheng
Automotive
Technology Purchase of goods 1213398.08 No 378662.72
(Guangzhou) Co.Ltd.Luxsan Investment
Rent and utilities 17990440.29 80000000.00 No 45621594.42
(Jiangsu) Co. Ltd.Luxsan Investment
Service fees 2982750.20 No 222657.40
(Jiangsu) Co. Ltd.Luxsan Intelligent
Equipment Purchase of fixed
656197.29 No 2746854.88
(Kunshan) Co. assets
Ltd.Luxsan Intelligent
Equipment
Service fees 1977496.12 No
(Kunshan) Co.Ltd.Luxsan Precision
Industry
Purchase of goods 4480665.43 No 951574.04
(Kunshan) Co.Ltd.Luxsan Precision Purchase of fixed
Industry No 3433589.17 assets
(Kunshan) Co.
359Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Luxsan Precision
Industry
Rent and utilities 70210921.63 No 27913845.59
(Kunshan) Co.Ltd.Luxsan Precision
Industry
Service fees 890603.45 No 4455822.76
(Kunshan) Co.Ltd.Luxsan
Technology
Purchase of goods 36463.45 No
(Kunshan) Co.Ltd.Luxsan
Technology Purchase of goods 1058187147.14 1500000000.00 No 1243805181.85
Limited
Luxsan
Purchase of fixed
Technology 13621064.24 No
assets
Limited
Luxsan (Hong
Kong) Trading Purchase of goods 13851.65 No
Limited
Merry & Luxshare
(Vietnam) Co. Purchase of goods 812831814.16 No 273111739.58
Ltd.Merry & Luxshare
Purchase of fixed
(Vietnam) Co. No 137894.26
assets
Ltd.Slenergy
Outsourced
Technology 432428.36 No 534961.52
processing fees
(Anhui) Co. Ltd.
Shenzhen Xinhao
Photoelectricity
Purchase of goods No 56882.00
Technology Co.Ltd.Lihao
Optoelectronic
Technology Purchase of goods 227360.00 No 2091516.75
(Nantong) Co.Ltd.Xunhao
Photoelectricity
Purchase of goods 2100605.00 No
(Chuzhou) Co.
Ltd.Xinhao
Photoelectricity Purchase of goods 11907.43 No
(Chuzhou) Co.
360Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Dahao Technology
(Dongguan) Co. Purchase of goods 13625.92 No
Ltd.Teleray Smart
Technologies
Purchase of goods 14072653.69 No 116366628.76
(Dongguan) Co.
Ltd.Teleray Smart
Technologies Purchase of fixed
44884.00 No 730760.00
(Dongguan) Co. assets
Ltd.Teleray (Hong
Kong)
Purchase of goods 355185737.78 500000000.00 No 9753772.43
International
Company Limited
Teleray (Hong
Kong) Purchase of fixed
3457633.79 No
International assets
Company Limited
Dongguan DLC
Leather Products Purchase of goods 470544415.51 600000000.00 No 25798219.01
Co. Ltd.Dongguan DLC
Leather Products Service fees 37173278.37 No
Co. Ltd.Dongguan DLC
Purchase of fixed
Leather Products 8063146.88 No
assets
Co. Ltd.Teleray Smart
Technologies Purchase of goods 667450.28 No 769108.89
(Guilin) Co. Ltd.Guangdong Lide
Adhesive
Processing
Precision 6658356.55 No
services
Components Co.Ltd.Guangdong Lide
Adhesive
Precision Purchase of goods 24809124.16 No
Components Co.Ltd.Guangdong Lide
Adhesive
Purchase of fixed
Precision 5487026.00 No
assets
Components Co.Ltd.
361Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Anhui Lide
Automotive
Purchase of goods 54959909.86 No
Components Co.Ltd.Anhui Lide
Automotive
Service fees 272513.40 No
Components Co.Ltd.Chery Automobile
Service fees 76201.38 No 126658.07
Co. Ltd.Chery New
Energy
Service fees 42692.63 No 18795.20
Automotive Co.Ltd.Chery Commercial
Vehicle (Anhui) Service fees No 60000.00
Company Limited
Wuhu Chery
Automotive Parts
Service fees 52000.77 No 209339.88
Procurement Co.Ltd.Ruijing (Anhui)
Supply Chain
Service fees 2000159.00 No 60878.81
Technology Co.Ltd.Ruijing (Anhui)
Supply Chain
Purchase of goods 142466.60 No
Technology Co.Ltd.Southeast (Fujian)
Motor Corporation Service fees 5149057.56 No 240000.00
Ltd.Lishan Intelligent
Manufacture
Technology Rent and utilities 1771538.20 No 4058949.65
(Guangdong) Co.Ltd.Xunmu
Information
Lease of fixed
Technology No 196028.47
assets as lessee
(Shanghai) Co.Ltd.Table of sales of goods/provision of services
Unit: RMB
Content of related-party
Related party Current-period amount Prior-period amount
transaction
362Luxshare Precision Industry Co. Ltd. 2025 Annual Report
AIOTEK Co. Ltd. Other services 2545941.86
AIOTEK Co. Ltd. Sales of products 2440949.75
AIOTEK Co. Ltd. Disposal of fixed assets 4247.70
Zhuhai Kinwong Flexible
Sales of products
Circuit Co. Ltd.Shangrao Luxvisions
Innovation Technology Co. Sales of products 536886.25 2031029.15
Ltd.Shangrao Luxvisions
Innovation Technology Co. Service fees 42090.58
Ltd.Luxvisions Innovation
Disposal of fixed assets 24255.12
Technology Limited
Luxvisions Innovation
Service fees 32000.09 2843560.95
Technology Limited
Luxvisions Innovation
Sales of products 185873504.85 196571675.28
Technology Limited
Luxvisions Innovation
Lease of fixed assets as lessor 64380.00
Technology Limited
Dongguan Cowell Optic
Sales of products 28309630.26 127228633.19
Electronics Ltd.Dongguan Cowell Optic
Service fees 127950.92
Electronics Ltd.Cowell Optic Electronics Ltd. Sales of products 1957887007.89 1585006865.58
Cowell Optic Electronics Ltd. Service fees 12142711.78 7576020.65
Luxvisions Innovation
Sales of products 708505.78 328964.84
Technology Limited
Luxvisions Innovation
Disposal of fixed assets 408898.22
Technology Limited
Luxvisions Innovation
Technology (Nghe An) Sales of products 127348.15
Limited
Dongguan Luxsense
Innovation Electronics Sales of products 40002.59 694101.03
Limited
Guangzhou Lizhi Perception
Sales of products 17677.00
Technology Co. Ltd.
363Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxcolight Optics
(Dongguan) Company Sales of products 770748.79
Limited
BCS Automotive Technology
Sales of products 324482429.11 380631364.62
(Suzhou) Co. Ltd.BCS Automotive Technology
Service fees 176780.86
(Suzhou) Co. Ltd.BCS Automotive Technology
Disposal of fixed assets 21001.17
(Suzhou) Co. Ltd.BCS Automotive Interface
Sales of products 380413.96 376888.22
Solutions GmbH (Germany)
BCS Automotive Interface
Solutions Romania s.r.l. Sales of products 2576726.64 2848978.78
(Romania)
BCS Automotive Interface
Sales of products 56555856.82 36811529.54
Solutions US LLC (USA)
BCS Automotive Interface
Disposal of fixed assets 538937.16
Solutions US LLC (USA)
BCS Automotive Interface
Sales of products 823589.99 945269.99
Solutions s.r.o. (Czech)
BCS AIS Japan Co. Ltd. Service fees 88050.11 91556.86
BCS Automotive Interface
Sales of products
Solutions s.r.o.BCS AIS Queretaro Dos S. de
Utilities 5313320.62
R.L. de C.V.Luxsan Technology
Sales of products 49176148.86
(Kunshan) Co. Ltd.Luxsan Precision Intelligent
Manufacture (Kunshan) Co. Sales of products 117362.28
Ltd.Luxsan Intelligent Equipment
Sales of products 63496487.10 164568796.14
(Kunshan) Co. Ltd.Luxsan Intelligent Equipment
Disposal of fixed assets 113969.23 6855754.28
(Kunshan) Co. Ltd.Luxsan Intelligent Equipment
Service fees 22688509.85 22199376.38
(Kunshan) Co. Ltd.Luxsan Investment (Jiangsu)
Sales of products 1627667.65 1988421.27
Co. Ltd.
364Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxsan Investment (Jiangsu)
Disposal of fixed assets 8710.00
Co. Ltd.Luxsan Precision Industry
Sales of products 1322381.15 3993531.40
(Kunshan) Co. Ltd.Luxsan Technology Limited Disposal of fixed assets
Luxsan Technology Limited Sales of products 6617054606.75 1103511747.87
Luxsan Technology Limited Service fees 69337492.85 52026295.12
Luxsan (Hong Kong) Trading
Service fees 36306828.25
Limited
Luxsan (Hong Kong) Trading
Sales of products 317292713.54
Limited
Luxsan Intelligent
Manufacturing Electronics Sales of products 56229.41
(Shanghai) Co. Ltd.Xunmu Information
Technology (Shanghai) Co. Sales of products
Ltd.Merry & Luxshare (Vietnam)
Sales of products 126565976.66 140970238.68
Co. Ltd.Merry & Luxshare (Vietnam)
Service fees 34757947.74 18457986.91
Co. Ltd.Merry & Luxshare (Vietnam)
Disposal of fixed assets 22502.50 84868.73
Co. Ltd.Lihao Optoelectronic
Technology (Nantong) Co. Sales of products 594000.00
Ltd.Lihao Optoelectronic
Technology (Nantong) Co. Service fees 141509.43
Ltd.Lihao Optoelectronic
Technology (Nantong) Co. Utilities and rent 2810183.94
Ltd.Dahao Technology
Sales of products 149496.00 195000.00
(Dongguan) Co. Ltd.
Dahao Technology
Provision of services 378538.75
(Dongguan) Co. Ltd.
Xinhao Photoelectric
Service fees 390062.65 401140.61
Technology (HK) Limited
365Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Slenergy Technology (Anhui)
Sales of products 2046888.23 2241071.85
Co. Ltd.Slenergy Technology (Anhui)
Service fees 141509.43 239780.08
Co. Ltd.Slenergy Technology (Anhui)
Utilities and rent 997244.66 3944285.38
Co. Ltd.Slenergy Technology (Anhui)
Disposal of fixed assets 200727.41
Co. Ltd.Xinhao Photoelectricity
Sales of products 31896859.00 96000.00
(Enshi) Co. Ltd.
Xinhao Photoelectricity
Service fees 4000.00
(Enshi) Co. Ltd.
Shenzhen Xinhao
Photoelectricity Technology Service fees 195600.00 195600.00
Co. Ltd.Xinhao Photoelectricity
Utilities and rent 5318836.73
(Chuzhou) Co. Ltd.
Xinhao Photoelectricity
Disposal of fixed assets 9946.60
(Chuzhou) Co. Ltd.
Xunhao Photoelectricity
Service fees 141509.43
(Chuzhou) Co. Ltd.
Xunhao Photoelectricity
Sales of products 950000.00
(Chuzhou) Co. Ltd.
Xunhao Photoelectricity
Utilities and rent 4370527.15
(Chuzhou) Co. Ltd.
Lisheng Automotive
Technology (Guangzhou) Sales of products 161274055.85 62859970.42
Co. Ltd.Lisheng Automotive
Technology (Guangzhou) Disposal of fixed assets 8407.08 1435671.00
Co. Ltd.Chery Automobile Co. Ltd. Sales of products 3507553.43 94360726.96
Chery Automobile Co. Ltd. Service fees 459448.40 1619864.16
Chery Automobile Henan
Sales of products -903814.35 903452.43
Co. Ltd.Chery Commercial Vehicle
Sales of products -840250.17 13465076.89
(Anhui) Company Limited
Chery New Energy Sales of products 157432088.63 187870478.44
366Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Automotive Co. Ltd.Wuhu Chery Automotive
Sales of products 365522591.00
Parts Procurement Co. Ltd.Anhui Zhuodun Security
Sales of products 37293533.29 7885208.17
Technology Co. Ltd.Wuhu Daao Automotive
Intelligent Chassis System Sales of products 115123.95
Co. Ltd.Southeast (Fujian) Motor
Sales of products 26922841.20 174118875.18
Corporation Ltd.Wuhu Qida Power Battery
Sales of products 134833.50 105071.00
Systems Co. Ltd.Ruijing (Anhui) Supply Chain
Sales of products 2058306290.17 1096867437.45
Technology Co. Ltd.Wuhu Acteco Powertrain Co.Sales of products 2480432.64 4227801.60
Ltd.ZDrive.ai Sales of products 3048981.75
Teleray Smart Technologies
Sales of products 4055532.78 11870420.33
(Dongguan) Co. Ltd.
Teleray Smart Technologies
Utilities and rent 6000.00 25000.00
(Dongguan) Co. Ltd.
Teleray Smart Technologies
Service fees 31142.43
(Dongguan) Co. Ltd.
Teleray (Hong Kong)
International Company Sales of products 399169.46
Limited
Teleray (Hong Kong)
International Company Service fees 2842214.69 595750.32
Limited
Teleray Smart Technologies
Sales of products 12382476.52 303284.53
(Guilin) Co. Ltd.Teleray Smart Technologies
Service fees 1062204.43
(Guilin) Co. Ltd.Dongguan DLC Leather
Provision of services 108040.91 3782226.52
Products Co. Ltd.Dongguan DLC Leather
Sales of products 9784181.27 3070.38
Products Co. Ltd.Guangdong Lide Adhesive Sales of products 11102633.99
Precision Components Co.
367Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Guangdong Lide Adhesive
Precision Components Co. Disposal of fixed assets 3000.00
Ltd.Guangdong Lide Adhesive
Precision Components Co. Service fees 23584.91
Ltd.Anhui Lide Automotive
Sales of products 37125053.49
Components Co. Ltd.Lide Hong Kong International
Service fees 401848.52
Co. Ltd.Langfang Leoni Wiring
Sales of products 64252697.30
Systems Co. Ltd.Langfang Leoni Wiring
Service fees 12336985.59
Systems Co. Ltd.Explanation of related-party transactions involving purchases and sales of goods as well as provision and receipt of services
(2) Related-party leases
The Company as lessor:
Unit: RMB
Lease income recognized in Lease income recognized in
Name of lessee Type of leased asset
the current period the prior period
BCS Automotive Interface
Solutions Queretaro S. de Buildings 1272600.45
R.L. de C.V.BCS-AIS Ensambles Mexico
Buildings 6731323.49
S. de R.L. de C.V.BCS AIS Queretaro Dos S. de
Buildings 3662844.39
R.L. de C.V.Slenergy Technology (Anhui)
Buildings 3944285.38
Co. Ltd.Teleray Smart Technologies
Fixed assets 25000.00
(Dongguan) Co. Ltd.
Lihao Optoelectronic
Technology (Nantong) Co. Buildings 2810183.94
Ltd.The Company as lessee:
Unit: RMB
Name of Type of Lease expenses for short- Variable lease Interest expense on lease Additions to right-of-Lease payments made
lessor leased term leases and leases of payments not liabilities assumed use assets
368Luxshare Precision Industry Co. Ltd. 2025 Annual Report
asset low-value assets under the included in the
simplified approach (if measurement of
applicable) lease liabilities
(if applicable)
Current- Current- Prior- Current- Current- Current-
Prior-period Prior-period Prior-period Prior-period
period period period period period period
amount amount amount amount
amount amount amount amount amount amount
Luxvisions
Fixed
Innovation
assets
Technology 2012256.84 36043.31 51189.45 3098840.57
and
(Ji’an) Co.buildings
Ltd.Luxsan Fixed
Investment assets
3850000.00996998.3818715596.3632300000.00647130.451328474.10
(Jiangsu) and
Co. Ltd. buildings
Luxsan
Fixed
Precision
assets
Industry 29792197.77 18156662.77 28642657.08 14393654.28
and
(Kunshan)
buildings
Co. Ltd.Lishan
Intelligent Fixed
Manufacture assets
1615335.352609752.655897145.183986581.90262418.72144009.079861596.54
Technology and
(Guangdong) buildings
Co. Ltd.Fixed
AIOTEK assets
44775.3644775.36
Co. Ltd. and
buildings
Luxvisions Fixed
Innovation assets
2700.00
Technology and
Limited buildings
Explanation of related-party leases
(3) Asset transfers and debt restructuring involving related parties
Unit: RMB
Content of related-party
Related party Current-period amount Prior-period amount
transaction
Shenzhen Xinhao
Photoelectricity Technology Acquisition of equity interests 0.00 52470000.00
Co. Ltd.
(4) Compensation of key management personnel
Unit: RMB
Item Current-period amount Prior-period amount
369Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Remuneration of key management
22865997.6321977907.97
personnel
Share-based payments to key
13967537.2510871666.58
management personnel
(5) Other related-party transactions
6. Receivables from and payables to related parties
(1) Receivable items
Unit: RMB
Closing balance Opening balance
Item Related party
Gross carrying Gross carrying
Bad debt reserve Bad debt reserve
amount amount
Accounts
receivable
BCS AIS
Queretaro Dos S. 1036700.38 518.35
de R.L. de C.V.BCS Automotive
Interface Solutions
398202.27199.105879311.152939.66
Romania s.r.l.(Romania)
BCS Automotive
Interface Solutions 485914.30 242.96 636985.82 318.49
s.r.o. (Czech)
BCS Automotive
Interface Solutions 29852390.88 14926.20 19288226.26 9644.11
US LLC (USA)
BCS Automotive
Technology 180488669.38 90244.33 307139085.72 153569.54
(Suzhou) Co. Ltd.AIOTEK Co. Ltd. 896965.74 448.48 1062922.27 531.46
Cowell Optic
941017651.05470508.831135630655.19567815.33
Electronics Ltd.Luxvisions
Innovation
1096868.00548.43
Technology
Limited
Luxvisions
Innovation
127049.9963.52
Technology (Nghe
An) Limited
370Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Dongguan Cowell
Optic Electronics 23230986.69 11615.49 48940694.04 24470.35
Ltd.Dongguan
Luxsense
Innovation 214539.96 107.27
Electronics
Limited
Luxcolight Optics
(Dongguan) 283523.01 141.76
Company Limited
Luxvisions
Innovation
92734037.9346367.0268645628.7734322.81
Technology
Limited
Shangrao
Luxvisions
Innovation 377550.97 188.78 1696754.15 848.38
Technology Co.Ltd.Lisheng
Automotive
Technology 129830484.23 64915.24 25226467.08 12613.23
(Guangzhou) Co.Ltd.Luxsan
Technology 5236571746.59 2618285.87 303551636.02 151775.82
Limited
Luxsan (Hong
Kong) Trading 100630115.82 50315.06
Limited
Luxsan Precision
Industry
1400636.45700.32141178.1670.59
(Kunshan) Co.Ltd.Luxsan Investment
1427840.16713.92710667.33355.33
(Jiangsu) Co. Ltd.Luxsan Intelligent
Equipment
30486888.9815243.44127753223.7163876.61
(Kunshan) Co.Ltd.Luxsan Intelligent
Manufacturing
Electronics 63531.19 31.77
(Shanghai) Co.Ltd.Merry & Luxshare 69219678.28 34609.84 53834010.55 26917.01
(Vietnam) Co.
371Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Anhui Zhuodun
Security
23283132.0211641.573947801.261973.90
Technology Co.Ltd.Wuhu Daao
Automotive
71876.9935.94
Intelligent Chassis
System Co. Ltd.ZDrive.ai 59224.71 29.61
Southeast (Fujian)
Motor Corporation 3117.44 1.56
Ltd.Chery Automobile
3913760.471956.881675159.09837.58
Co. Ltd.Chery Automobile
1021310.22510.66
Henan Co. Ltd.Chery Commercial
Vehicle (Anhui) 2690119.36 1345.06
Company Limited
Chery New
Energy
137313111.3168656.5698092042.9849046.02
Automotive Co.Ltd.Ruijing (Anhui)
Supply Chain
946406529.48473203.26964114232.91482057.12
Technology Co.Ltd.Wuhu Acteco
Powertrain Co. 3154667.83 1577.33 4777415.81 2388.71
Ltd.Wuhu Qida Power
Battery Systems 87881.23 43.94
Co. Ltd.Wuhu Chery
Automotive Parts
51345.2525.67191391.4495.70
Procurement Co.Ltd.Anhui Lide
Automotive
10221774.235110.89
Components Co.Ltd.Dongguan DLC
Leather Products 4041323.81 2020.66 7442.37 3.72
Co. Ltd.
372Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Guangdong Lide
Adhesive
Precision 2603466.55 1301.73
Components Co.Ltd.Teleray (Hong
Kong)
600158.58300.08
International
Company Limited
Teleray Smart
Technologies
436719.09218.366656776.853328.39
(Dongguan) Co.
Ltd.Teleray Smart
Technologies 1456598.46 728.30 12711.50 6.36
(Guilin) Co. Ltd.Xinhao
Photoelectric
21798.3810.90150902.7175.45
Technology (HK)
Limited
Dahao Technology
(Dongguan) Co. 168930.48 84.47
Ltd.Lihao
Optoelectronic
Technology 561043.93 280.52
(Nantong) Co.Ltd.Shenzhen Xinhao
Photoelectricity
207336.00103.67
Technology Co.Ltd.Slenergy
Technology 707168.10 353.58
(Anhui) Co. Ltd.
Xinhao
Photoelectricity 27697926.07 13848.96
(Enshi) Co. Ltd.
Xunhao
Photoelectricity
717650.71358.83
(Chuzhou) Co.
Ltd.Langfang Leoni
Wiring Systems 45279966.28
Co. Ltd.Other receivables
373Luxshare Precision Industry Co. Ltd. 2025 Annual Report
BCS AIS Japan
7939.4639.708193.9740.97
Co. Ltd.BCS Automotive
Technology 860894.57 4304.47
(Suzhou) Co. Ltd.AIOTEK Co. Ltd. 13346.07 66.73
Cowell Optic
1120275.255601.38
Electronics Ltd.Luxsan Precision
Industry
770000.003850.00770000.003850.00
(Kunshan) Co.Ltd.Merry & Luxshare
(Vietnam) Co. 695533.77 3477.67
Ltd.Prepayments
BCS Automotive
Interface Solutions
1604649.427912116.46
Romania s.r.l.(Romania)
BCS Automotive
Interface Solutions 1310863.83
GmbH (Germany)
BCS Automotive
Interface Solutions 1489939.67
US LLC (USA)
Merry & Luxshare
(Vietnam) Co. 2563082.85
Ltd.Other non-current
assets
AIOTEK Co. Ltd. 684024.60 159443.34
Notes receivable
BCS Automotive
Technology 65623461.19 9221816.92
(Suzhou) Co. Ltd.Anhui Zhuodun
Security
1672143.48
Technology Co.Ltd.ZDrive.ai 977900.00
374Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Southeast (Fujian)
Motor Corporation 2000000.00
Ltd.Chery Automobile
300000.00
Co. Ltd.Chery Commercial
Vehicle (Anhui) 1100000.00 1200000.00
Company Limited
Chery New
Energy
2716500.0033244294.25
Automotive Co.Ltd.Ruijing (Anhui)
Supply Chain
76600000.0067867078.68
Technology Co.Ltd.Wuhu Chery
Automotive Parts
400000.00
Procurement Co.Ltd.
(2) Payable items
Unit: RMB
Closing gross carrying Opening gross carrying
Item Related party
amount amount
Accounts payable
BCS Automotive Interface
54008.416591598.23
Solutions Romania s.r.l. (Romania)
BCS Automotive Interface
376283.99
Solutions GmbH (Germany)
BCS Automotive Interface
1101511.572867122.31
Solutions US LLC (USA)
BCS Automotive Technology
5536824.181615136.67
(Suzhou) Co. Ltd.AIOTEK Co. Ltd. 15717447.19 18738531.94
Cowell Optic Electronics Ltd. 13801.73
Luxvisions Innovation Technology
328668.61
Limited
Luxvisions Innovation Technology
734004.51
(Nghe An) Limited
375Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Dongguan Cowell Optic
1952675.54
Electronics Ltd.Luxvisions Innovation Technology
182780.001279460.00
(Ji’an) Co. Ltd.Luxvisions Innovation Technology
26530663.74968516.26
Limited
Shangrao Luxvisions Innovation
66744.13
Technology Co. Ltd.Lishan Intelligent Manufacture
1651233.681316019.80
Technology (Guangdong) Co. Ltd.Xunmu Information Technology
60412.41
(Shanghai) Co. Ltd.Lisheng Automotive Technology
205151.88336248.13
(Guangzhou) Co. Ltd.Luxsan Technology Limited 652894032.69 971975182.23
Luxsan Precision Industry
19571449.9814342009.43
(Kunshan) Co. Ltd.Luxsan Investment (Jiangsu) Co.
22554181.7615275458.83
Ltd.Luxsan Intelligent Equipment
1548289.573103946.01
(Kunshan) Co. Ltd.Merry & Luxshare (Vietnam) Co.
459209339.58106485831.25
Ltd.Southeast (Fujian) Motor
374557.26
Corporation Ltd.Chery Automobile Co. Ltd. 94068.42
Chery New Energy Automotive
40992.664994.26
Co. Ltd.Ruijing (Anhui) Supply Chain
590721.32
Technology Co. Ltd.Wuhu Chery Automotive Parts
1206120.83
Procurement Co. Ltd.Reel Mask Industry Co. Ltd. 2349433.97 5323943.98
Anhui Lide Automotive
15585382.49
Components Co. Ltd.Dongguan DLC Leather Products 164675135.58 28426484.02
376Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Co. Ltd.Guangdong Lide Adhesive
12289398.92
Precision Components Co. Ltd.Teleray (Hong Kong) International
127151911.098264943.06
Company Limited
Teleray Smart Technologies
4731217.5429021690.30
(Dongguan) Co. Ltd.
Teleray Smart Technologies
527591.21115906.00
(Guilin) Co. Ltd.Dahao Technology (Dongguan)
15397.29
Co. Ltd.Lihao Optoelectronic Technology
475757.82
(Nantong) Co. Ltd.Slenergy Technology (Anhui) Co.
35901.89
Ltd.Xinhao Photoelectricity (Chuzhou)
12907.78
Co. Ltd.Xunhao Photoelectricity
728737.00
(Chuzhou) Co. Ltd.
Other payables
BCS Automotive Interface
10724.47
Solutions US LLC (USA)
AIOTEK Co. Ltd. 52518.86 18523.56
Luxvisions Innovation Technology
130344.39
Limited
Reel Mask Industry Co. Ltd. 100.17
Teleray (Hong Kong) International
67675.82217785.76
Company Limited
Contract liabilities
BCS Automotive Interface
1347060.73
Solutions US LLC (USA)
Luxsan Technology Limited 7417293.51
Luxsan Technology (Kunshan)
35846.88
Co. Ltd.
377Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Anhui Zhuodun Security
8978746.20
Technology Co. Ltd.Chery New Energy Automotive
1530973.45
Co. Ltd.Xinhao Photoelectricity (Enshi)
7311600.00
Co. Ltd.Luxsan (Hong Kong) Trading
16394311.11
Limited
Langfang Leoni Wiring Systems
90182.00
Co. Ltd.Anhui Zhuodun Security
Other current liabilities 442052.68
Technology Co. Ltd.Lease liabilities
Luxsan Investment (Jiangsu) Co.
9298040.0527366505.96
Ltd.Luxvisions Innovation Technology
1976213.53
(Ji’an) Co. Ltd.Lishan Intelligent Manufacture
5340754.538556408.61
Technology (Guangdong) Co. Ltd.XV. Share-based Payments
1. Overall information on share-based payments
□Applicable □ Not applicable
Unit: RMB
Granted during the current Exercised during the current Vested during the Forfeited during the current
period period current period period
Category of
grantees
Quantit Amoun
Quantity Amount Quantity Amount Quantity Amount
y t
Sales
14521710.0025899777.913684144.0035996829.56315860.0010199833.40
personnel
Managemen 135551145.0 225820398.2 23836153.0 238192086.7 3269102.0 102788466.3
t personnel 0 3 0 5 0 8
R&D 124470116.2 20491350.0 202003191.8 4375963.0 131694315.3
70843885.00
personnel 8 0 1 0 9
220916740.0376190292.448011647.0476192108.17960925.0244682615.1
Total
020207
Share options or other equity instruments outstanding at the end of the Reporting Period
□Applicable □ Not applicable
378Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Share options outstanding at the end of the Other equity instruments outstanding at the end of
Reporting Period the Reporting Period
Category of grantees
Range of exercise Remaining contractual Range of exercise Remaining contractual
prices maturity prices maturity
Sales personnel 12.85-35.13 1–4 years
Management personnel 12.85-35.13 1–4 years
R&D personnel 12.85-35.13 1–4 years
Other notes:
2. Equity-settled share-based payments
□Applicable □ Not applicable
Unit: RMB
Method used to determine the grant date fair value of equity
Black-Scholes model
instruments
Significant inputs used in determining the grant date fair value
Historical volatility and risk-free interest rate
of equity instruments
The Company determines the number based on the equity
Basis for determining the number of equity instruments instruments corresponding to the incentive recipients in service
expected to vest forecasts of the Company’s results in future years and other
relevant factors.Reasons for significant differences between estimates in the
None
current period and those in the prior period
Cumulative amount of equity-settled share-based payments
3145359451.11
included in capital reserve
Total expense recognized for equity-settled share-based
549548588.35
payments during the current period
Other notes:
(1) On September 25 2018 the Proposal on the Grant of Share Options to Incentive Recipients under the 2018 Stock Option Incentive
Plan of Luxshare Precision Industry Co. Ltd. was reviewed and approved at the Fifth Meeting of the Fourth Board of Directors. The
Company granted 97.5 million share options to 1899 eligible incentive recipients with an exercise price of RMB17.58 per share. After
12 months from the date on which registration of the granted share options was completed incentive recipients who satisfy the exercise
conditions may exercise the options in five tranches over the following 60 months at a ratio of 20%: 20%: 20%: 20%: 20%. On
December 2 2020 the Company held the 27th Meeting of the Fourth Board of Directors at which the Proposal on the Satisfaction of
the Exercise Conditions for the Second Exercise Period under the 2018 Stock Option Incentive Plan was reviewed and approved.Pursuant to the proposal the exercise conditions for the second exercise period under the Company’s 2018 Stock Option Incentive
Plan had been satisfied. The Company approved 1718 incentive recipients under the 2018 Stock Option Incentive Plan to exercise
options independently during the second exercise period. The number of share options expected to be exercised was 31212577 subject
to the actual number registered with the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited and the
exercise price was RMB10.28 per share.
(2) On April 22 2019 the Proposal on the Grant of Share Options to the Incentive Recipients under the Initial Grant of the 2019 Stock
Option Incentive Plan of Luxshare Precision Industry Co. Ltd. was reviewed and approved at the Ninth Meeting of the Fourth Board
of Directors. The Company granted 50.076 million share options to 348 eligible incentive recipients and reserved 12.519 million share
options. The grant price of the initial share options was RMB23.36 per share.
379Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(3) On November 27 2019 the Proposal on the Grant of Reserved Share Options to Incentive Recipients under the 2019 Stock Option
Incentive Plan was reviewed and approved at the 13th Meeting of the Fourth Board of Directors. The Company granted 16274700
share options to 263 incentive recipients with an exercise price of RMB17.93 per share. After 12 months from the date on which
registration of the granted share options was completed incentive recipients who satisfy the exercise conditions may exercise the
options in five tranches over the following 60 months at a ratio of 20%: 20%: 20%: 20%: 20%.
(4) On December 3 2021 the Company held the Sixth Meeting of the Fifth Board of Directors at which the Proposal on the Grant of
Share Options to the Incentive Recipients under the Initial Grant of the 2021 Stock Option Incentive Plan of Luxshare Precision
Industry Co. Ltd. was reviewed and approved. December 3 2021 was determined as the grant date and 52.419 million share options
were granted to 1097 eligible incentive recipients. The exercise price of the initially granted share options under the incentive plan
was RMB35.87 per share. As 22 original incentive recipients had resigned and three original incentive recipients waived all share
options proposed to be granted to them by the Company for personal reasons the number of incentive recipients under the plan was
adjusted from 1097 to 1072 and the number of share options granted was adjusted from 52.419 million to 52.092 million.On September 15 2022 the Company held the 11th Meeting of the Fifth Board of Directors and the 11th Meeting of the Fifth Board
of Supervisors at which the Proposal on the Grant of Reserved Share Options to Incentive Recipients under the 2021 Stock Option
Incentive Plan was reviewed and approved. September 15 2022 was determined as the grant date for the reserved share options
and 13.101 million share options were granted to 365 eligible incentive recipients. The exercise price of the reserved share options
granted under the incentive plan was RMB35.76 per share. As nine original incentive recipients had resigned or waived all share
options proposed to be granted to them by the Company for personal reasons the number of incentive recipients under the reserved
grant was adjusted from 365 to 356 and the number of share options granted was adjusted from 13.101 million to 12.7858 million.
(5) On December 5 2022 the Company held the 14th Meeting of the Fifth Board of Directors at which the Proposal on the Grant of
Share Options to Incentive Recipients under the 2022 Stock Option Incentive Plan of Luxshare Precision Industry Co. Ltd. was
reviewed and approved. December 5 2022 was determined as the grant date of the share options and 172.021 million share options
were granted to 3759 eligible incentive recipients. The exercise price of the initially granted share options under the incentive plan
was RMB30.35 per share. During the implementation of the incentive plan a total of 254 incentive recipients resigned or waived all
share options proposed to be granted to them by the Company for personal reasons. Accordingly the number of incentive recipients
under the reserved grant was adjusted from 3759 to 3505 and the number of share options granted was adjusted from 172.021 million
to 168.513 million.
(6) On May 23 2025 the Company held the 14th Meeting of the Sixth Board of Directors and the 13th Meeting of the Sixth Board of
Supervisors at which the Proposal on the Grant of Share Options to the Incentive Recipients under the Initial Grant of the 2025 Stock
Option Incentive Plan of Luxshare Precision Industry Co. Ltd. was reviewed and approved. In accordance with the Administrative
Measures for Equity Incentives of Listed Companies (the “Administrative Measures”) the 2025 Stock Option Incentive Plan of
Luxshare Precision Industry Co. Ltd. (Draft) (the “Incentive Plan (Draft)” or the “Incentive Plan”) and the authorization granted at the
Company’s Second Extraordinary Shareholders’ Meeting in 2025 the Board of Directors considered that the grant conditions under
the Company’s Incentive Plan had been satisfied and approved May 23 2025 as the initial grant date of the Incentive Plan. A total of
177.215 million share options were granted to 3126 eligible incentive recipients with an exercise price of RMB25.35 per option.
(7) On August 11 2025 the Company held the 16th Meeting of the Sixth Board of Directors at which the Proposal on Adjusting the
Exercise Prices under the 2019 2021 2022 and 2025 Stock Option Incentive Plans was reviewed and approved. The Company adjusted
the exercise prices of share options under the 2019 2021 2022 and 2025 Stock Option Incentive Plans. The exercise price of
outstanding share options under the 2019 Stock Option Incentive Plan was adjusted from RMB13.05 per share to RMB12.85 per share.The exercise price of outstanding share options initially granted and reserved under the 2021 Stock Option Incentive Plan was adjusted
from RMB35.33 per share to RMB35.13 per share. The exercise price of outstanding share options initially granted and reserved under
the 2022 Stock Option Incentive Plan was adjusted from RMB29.92 per share to RMB29.72 per share. The exercise price of outstanding
share options under the 2025 Stock Option Incentive Plan was adjusted from RMB25.35 per share to RMB25.15 per share. These
adjustments complied with the incentive plans and relevant laws and regulations and did not prejudice the interests of shareholders.
(8) On November 23 2025 the Company held the 19th Meeting of the Sixth Board of Directors at which the Proposal on the Grant
of Reserved Share Options to Incentive Recipients under the 2025 Stock Option Incentive Plan of Luxshare Precision Industry Co.Ltd. was reviewed and approved. In accordance with the Administrative Measures the Incentive Plan and the authorization granted at
the Company’s Second Extraordinary Shareholders’ Meeting in 2025 the Board of Directors considered that the grant conditions under
the Company’s 2025 Stock Option Incentive Plan had been satisfied and approved November 21 2025 as the reserved grant date of
the Incentive Plan. A total of 44.285 million share options were granted to 442 eligible incentive recipients with an exercise price of
RMB25.15 per option.
3. Cash-settled share-based payments
□ Applicable □Not applicable
4. Share-based payment expenses for the current period
□Applicable □ Not applicable
Unit: RMB
380Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Equity-settled share-based payment Cash-settled share-based payment
Category of grantees
expense expense
Sales personnel 41288006.92
Management personnel 318863110.84
R&D personnel 189397470.59
Total 549548588.35
Other notes:
XVI. Commitments and Contingencies
1. Significant commitments
Significant commitments existing as at the balance sheet date
The Company had no significant commitments that required disclosure.
2. Contingencies
(1) Significant contingencies existing as at the balance sheet date
In January 2022 the German Federal Cartel Office (Bundeskartellamt) launched an investigation into a number of cable manufacturers
and other industry-related companies during which searches were also conducted at the business premises of LEONI Group. The
investigation was initiated due to suspected collusion among cable manufacturers in Germany in relation to the customary method used
for calculating metal surcharges.LEONI has continued to cooperate with the regulatory authority and has conducted internal reviews based on the relevant allegations
and the results of its review of the investigation documents. As the proceedings of Bundeskartellamt remain at the investigation stage
no reliable assessment can currently be made as to the possible outcome. To date the regulatory authority has not yet permitted full
access to the relevant records.In preparing the consolidated financial statements the Board of Directors remained of the view that the evidence currently available
was insufficient to establish any violation and that the likelihood of a fine being imposed was therefore extremely low.
(2) An explanation should also be given even if the Company has no significant contingencies that require disclosure
The Company has no significant contingencies that require disclosure.
3. Others
XVII. Events after the Balance Sheet Date
1. Significant non-adjusting events
(1) Implementation of the accounting treatment requirements under the Accounting Standard for Business Enterprises No. 19 (C.K.
[2025] No. 32)
On December 19 2025 the Ministry of Finance issued the Accounting Standard for Business Enterprises No. 19 (C.K. [2025] No. 32
hereinafter referred to as “Interpretation No. 19”) which provides requirements on among others “accounting treatment ofindemnification assets in business combinations not involving enterprises under common control” “accounting treatment of therelevant capital reserve upon disposal of a subsidiary originally acquired through a business combination involving enterprises undercommon control” “derecognition of financial liabilities settled using electronic payment systems” “assessment of contractual cashflow characteristics of financial assets and related disclosures” and “disclosures relating to equity instruments designated as at fairvalue through other comprehensive income”. The Interpretation shall come into effect on January 1 2026.In accordance with the transitional provisions for the changeover from the old standards to the new standards the Company
implemented the above accounting standards from January 1 2026. The above changes in accounting policies represent reasonable
changes made by the Company in accordance with the relevant requirements of the Ministry of Finance and are in compliance with
applicable laws and regulations and consistent with the Company’s actual circumstances. The Company has made corresponding
changes to its original accounting policies in implementing Interpretation No. 19 and the implementation of these requirements has no
material impact on the Company.
(2) At the 22nd Meeting of the Sixth Board of Directors held on February 5 2026 the Proposal on the Company’s Application to
Banks for Comprehensive Credit Facilities was reviewed and approved. Based on the needs of business development the Company
381Luxshare Precision Industry Co. Ltd. 2025 Annual Report
proposed to apply to seven banks for comprehensive credit facilities with an aggregate amount of RMB65.5 billion. The final amount
shall be subject to the amount actually approved by the banks. The facilities cover RMB loans bank acceptance bills letters of credit
letters of guarantee forward foreign exchange contracts and other credit products denominated in RMB and foreign currencies. The
term of each of the above credit facilities is one year.
(3) At the 23rd Meeting of the Sixth Board of Directors held on April 14 2026 the Proposal on the Company’s Application to Banks
for Comprehensive Credit Facilities was reviewed and approved. Based on the needs of business development the Company proposed
to apply to 20 banks for comprehensive credit facilities in an aggregate amount of RMB73.4 billion. Following this increase the
Company’s comprehensive credit facilities for 2026 amounted to RMB138.9 billion including the RMB65.5 billion applied for in
February 2026.
(4) At the 23rd Meeting of the Sixth Board of Directors held on April 14 2026 the Proposal on Applying for an Increase in the
Issuance Size of Debt Financing Instruments (DFIs) was reviewed and approved. To further meet the funding needs of the Company’s
business development and reduce financing costs the Company proposed to apply to the Shareholders’ Meeting for an increase of
RMB8 billion in the issuance size of DFIs. After this increase the aggregate outstanding balance of various bonds under the DFIs shall
not exceed RMB20 billion.
2. Profit distribution
Proposed cash dividend per 10 shares (RMB) 1.4
Proposed bonus shares per 10 shares (share) 0
Proposed capitalization of capital reserve per 10 shares (share) 0
At the 23rd Meeting of the Sixth Board of Directors the
Company reviewed and approved the 2025 Profit Distribution
Proposal with eight votes in favor zero votes against and zero
abstentions. Based on the Company’s total share capital of
7285984864 shares as at the disclosure date of this
announcement less 9900600 shares held in the Company’s
Profit distribution plan
repurchase securities account the Company proposed to
distribute a cash dividend of RMB1.4 per 10 shares tax
inclusive to all shareholders with total cash dividends
amounting to RMB1018651796.96 tax inclusive. The
remaining retained earnings will be carried forward for
distribution in future years.
3. Description of other events after the balance sheet date
None.XVIII. Other Significant Matters
1. Segment information
(1) Basis for determining reportable segments and accounting policies
None.
(2) Where the Company has no reportable segments or is unable to disclose the total assets and total liabilities of each
reportable segment the reasons shall be stated
The Group manages its business by business line in a manner consistent with the internal reporting provided to the Group’s chief
operating decision-maker for the purposes of resource allocation and performance assessment. The Group has only one single operating
segment and therefore no further analysis of this single segment is presented.
2. Other significant transactions and matters affecting investors’ decision-making
(1) As at the disclosure date of this announcement pursuant to the Equity and Asset Transfer Agreement and the Supplemental
Agreement to the Equity and Asset Transfer Agreement entered into between Luxshare Communications (Shanghai) Co. Ltd. a wholly-
owned subsidiary of the Company and Wingtech Technology Co. Ltd. (“Wingtech Technology”) the Company was to purchase a
business asset package held by Wingtech Mobile Communications (India) Private Ltd. (“Wingtech India”). Since the signing of the
above agreements the Company has actively advanced various pre-closing preparations and has paid part of the transaction
consideration as agreed. However as certain assets of Wingtech India are subject to closing restrictions including asset seizure and
freezing the procedures for change of ownership cannot be completed and the ownership transfer of the relevant assets under the
transaction has not yet been completed. In view of the substantive closing obstacles caused by the counterparty as described above the
contractual purpose of the Indian asset transfer agreement can no longer be achieved.
382Luxshare Precision Industry Co. Ltd. 2025 Annual Report
To safeguard the interests of the Company and all shareholders Luxshare Lanto India Private Limited (“Luxshare Lanto”) a wholly-
owned subsidiary of the Company issued a notice of termination to Wingtech India requiring Wingtech India to refund the transaction
consideration and other expenses already paid by the Company totaling INR1976753392.38 equivalent to approximately RMB153
million. As Wingtech India failed to refund the above amounts as required Luxshare Lanto has filed a request for arbitration with the
Singapore International Arbitration Centre and submitted a notice of arbitration seeking an award to terminate the Indian asset transfer
agreement and requesting that Wingtech India refund Luxshare Lanto the transaction consideration and other expenses already paid
totaling INR1976753392.38 equivalent to approximately RMB153 million together with interest accrued until the date of actual
payment in full.The termination of the transaction involving the Wingtech India business asset package will not have any adverse impact on the
Company’s regular production and operations or financial position. The Company will continue to monitor subsequent developments
and fulfill its information disclosure obligations in a timely manner in accordance with the requirements of relevant laws and regulations.
3. Others
XIX. Notes to Major Items in the Parent Company’s Financial Statements
1. Accounts receivable
(1) Disclosure by aging
Unit: RMB
Aging Closing gross carrying amount Opening gross carrying amount
Within 1 year (inclusive) 5624124068.80 4168329575.66
Incl.: Not past due 5585950056.77 4155964561.00
Past due 1 to 60 days 37468629.00 9719696.55
Past due 61 to 120 days 450224.94 2226760.81
Past due 121 to 180 days 90228.08 418557.30
Past due 181 to 365 days 164930.01
2 to 3 years 600221.26
Over 3 years 241403.36 2181398.76
3 to 4 years 1939995.40
Over 5 years 241403.36 241403.36
Total 5624365472.16 4171111195.68
(2) Disclosure by the bad debt provision method
Unit: RMB
Closing balance Opening balance
Gross carrying amount Bad debt reserve Gross carrying amount Bad debt reserve
Category
Carrying Carrying
Provision amount Provision amount
Amount Percentage Amount Amount Percentage Amount
percentage percentage
Accounts
241403.3241403.100.00%241403.30.01%241403100.00%
receivable with
383Luxshare Precision Industry Co. Ltd. 2025 Annual Report
provision for 6 36 6 .36
bad debts made
on an
individual
basis
Incl.:
241403.3241403.241403.3241403
Entity 1 100.00% 0.01% 100.00%
6366.36
Accounts
receivable with
provision for 5624124 378037 562034 4170869 48291 416604
100.00%0.07%99.99%0.12%
bad debts made 068.80 3.43 3695.37 792.32 79.84 0612.48
on a portfolio
basis
Incl.:
Aging 3344810 378037 334103 1949959 48291 194513
59.47%0.11%46.74%0.25%
combination 838.32 3.43 0464.89 357.74 79.84 0177.90
Intra-group
22793132279312220910222091
related-party 40.53% 53.25%
230.483230.48434.580434.58
portfolio
5624365402177562034417111150705416604
Total 100.00% 0.07% 100.00% 0.12%
472.166.793695.37195.6883.200612.48
Provision for bad debts made on an individual basis: RMB241403.36
Unit: RMB
Opening balance Closing balance
Name
Gross carrying Bad debt Gross carrying Bad debt Provision Reason for
amount reserve amount reserve percentage provision
Expected to be
Entity 1 241403.36 241403.36 241403.36 241403.36 100.00%
unrecoverable
Total 241403.36 241403.36 241403.36 241403.36
Provision for bad debts made on a portfolio basis:
Unit: RMB
Closing balance
Name
Gross carrying amount Bad debt reserve Provision percentage
Not past due 3306636826.29 1653318.25 0.05%
Past due for 1 to 60 days 37468629.00 1873431.45 5.00%
Past due for 61 to 120 days 450224.94 135067.49 30.00%
384Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Past due for 121 to 180 days 90228.08 36091.23 40.00%
Past due for 181 to 365 days 164930.01 82465.01 50.00%
Total 3344810838.32 3780373.43
Description of the basis for determining this portfolio:
If provision for bad debts of accounts receivable is made under the general expected credit loss model:
□ Applicable □Not applicable
(3) Provision for bad debts made recovered or reversed during the current period
Provision for bad debts made during the current period:
Unit: RMB
Changes during the current period
Opening
Category Closing balance
balance Recovery or
Provision Write-off Others
reversal
Provision on an
241403.36241403.36
individual basis
Provision on a
4829179.841048806.413780373.43
portfolio basis
Total 5070583.20 1048806.41 4021776.79
Significant amounts of provision for bad debts recovered or reversed during the current period:
Unit: RMB
Basis for determining
Amount recovered or the original provision
Name of entity Reason for reversal Recovery method
reversed percentage and its
reasonableness
(4) Accounts receivable actually written off during the current period
Unit: RMB
Item Amount written off
Significant write-offs of accounts receivable:
Unit: RMB
Write-off Whether arising
Nature of accounts Amount written Reasons for write-
Name of entity procedures from related-party
receivable off off
performed transactions
Description of write-off of accounts receivable:
(5) Top five closing balances of accounts receivable and contract assets by debtor
Unit: RMB
385Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Closing balance of
Percentage of the
provision for bad
Closing balance of total closing
Closing balance of debts of accounts
Closing balance of accounts balance of
Name of entity accounts receivable and
contract assets receivable and accounts
receivable impairment
contract assets receivable and
provision for
contract assets
contract assets
Entity 1 487631797.59 487631797.59 8.67% 243815.90
Entity 2 447341514.56 447341514.56 7.95%
Entity 3 444202081.87 444202081.87 7.90% 222101.04
Entity 4 427508657.86 427508657.86 7.60%
Entity 5 442265212.38 442265212.38 7.86%
Total 2248949264.26 2248949264.26 39.98% 465916.94
2. Other receivables
Unit: RMB
Item Closing balance Opening balance
Dividends receivable 922000000.00 600000000.00
Other receivables 7631196.10 6750541.46
Total 929631196.10 606750541.46
(1) Dividends receivable
1) Classification of dividends receivable
Unit: RMB
Item (or investee) Closing balance Opening balance
Jiangxi Luxshare Intelligent Manufacture
200000000.00600000000.00
Co. Ltd.Luxshare ITech (Zhejiang) Co. Ltd. 200000000.00
Dongguan Lide Precision Industry Co.
172000000.00
Ltd.Xiexun Electronic (Ji’an) Co. Ltd. 250000000.00
Luxshare Electronic Technology
100000000.00
(Kunshan) Ltd.Total 922000000.00 600000000.00
386Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(2) Other receivables
1) Classification of other receivables by nature of amounts
Unit: RMB
Nature of amounts Closing gross carrying amount Opening gross carrying amount
Staff advances 67548.03 8000.00
Deposits and security deposits 7566085.96 6776463.78
Others 35909.82
Total 7669543.81 6784463.78
2) Disclosure by aging
Unit: RMB
Aging Closing gross carrying amount Opening gross carrying amount
Within 1 year (inclusive) 7669543.81 6784463.78
Incl.: Not past due 7669543.81 6784463.78
Total 7669543.81 6784463.78
3) Disclosure by the bad debt provision method
Unit: RMB
Closing balance Opening balance
Gross carrying amount Bad debt reserve Gross carrying amount Bad debt reserve
Category
Carrying Carrying
Provision amount Provision amount
Amount Percentage Amount Amount Percentage Amount
percentage percentage
Incl.:
Provision for
bad debts
made on a 7669543.81 100.00% 38347.71 0.50% 7631196.10 6784463.78 100.00% 33922.32 0.50% 6750541.46
portfolio
basis
Incl.:
Aging
7669543.81100.00%38347.710.50%7631196.106784463.78100.00%33922.320.50%6750541.46
combination
Intra-group
related-party
portfolio
Total 7669543.81 100.00% 38347.71 0.50% 7631196.10 6784463.78 100.00% 33922.32 0.50% 6750541.46
387Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Provision for bad debts made on a portfolio basis: 38347.71
Unit: RMB
Closing balance
Name
Gross carrying amount Bad debt reserve Provision percentage
Aging combination 7669543.81 38347.71 0.50%
Total 7669543.81 38347.71
Description of the basis for determining this portfolio:
Provision for bad debts made under the general expected credit loss model:
Unit: RMB
Stage 1 Stage 2 Stage 3
Bad debt reserve Lifetime expected Lifetime expected Total
12-month expected
credit loss (not credit- credit loss (credit-
credit loss
impaired) impaired)
Balance as at January
33922.3233922.32
12025
Balance as at January
1 2025 during the
current period
Provision during the
4425.394425.39
current period
Balance as at
38347.7138347.71
December 31 2025
Basis for classification into each stage and provision percentage for bad debts
Changes in gross carrying amounts with significant changes in provision for bad debts during the current period
□ Applicable □Not applicable
4) Provision for bad debts made recovered or reversed during the current period
Provision for bad debts made during the current period:
Unit: RMB
Changes during the current period
Opening
Category Closing balance
balance Recovery or Write-off or
Provision Others
reversal cancellation
Other
33922.324425.3938347.71
receivables
Total 33922.32 4425.39 38347.71
Significant amounts of provision for bad debts recovered or reversed during the current period:
388Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Unit: RMB
Basis for determining
Amount recovered or the original provision
Name of entity Reason for reversal Recovery method
reversed percentage and its
reasonableness
5) Top five closing balances of other receivables by debtor
Unit: RMB
Percentage of the
Closing balance of
total closing
Name of entity Nature of amounts Closing balance Aging provision for bad
balance of other
debts
receivables
Deposits and
Entity 1 4216931.94 Not past due 54.98% 21084.66
security deposits
Deposits and
Entity 2 711414.94 Not past due 9.28% 3557.07
security deposits
Deposits and
Entity 3 645836.00 Not past due 8.42% 3229.18
security deposits
Deposits and
Entity 4 236334.72 Not past due 3.08% 1181.67
security deposits
Deposits and
Entity 5 466208.00 Not past due 6.08% 2331.04
security deposits
Total 6276725.60 81.84% 31383.62
3. Long-term equity investments
Unit: RMB
Closing balance Opening balance
Item
Gross carrying Impairment Gross carrying Impairment
Carrying amount Carrying amount
amount provision amount provision
Investments in
29825966170.1128560179.8029797405990.3124764098059.4328560179.8024735537879.63
subsidiaries
Investments in
associates and 317382552.34 34372608.46 283009943.88 325539354.95 34372608.46 291166746.49
joint ventures
Total 30143348722.45 62932788.26 30080415934.19 25089637414.38 62932788.26 25026704626.12
(1) Investments in subsidiaries
Unit: RMB
389Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Changes during the current period
Opening Closing Closing
Opening balance balance of balance balance of
Investee
(carrying value) impairment Impairment Additional Reduction in (carrying impairment
provision provision Others investment investment value) provision
made
Xiexun
27259434
Electronic 265522085.86 7072263.80
9.66
(Ji’an) Co. Ltd.Suining
Luxshare
4610695.0
Precision 3798860.99 811834.06
5
Industry Co.Ltd.Luxshare
Precision 15805993
158059935.32
Technology 5.32
Co. Ltd.ICT-Lanto 98736250
987362500.26
Limited 0.26
Luxshare
34309356.
Precision 33201032.24 1108324.01
25
Limited
Lanto
3766738180.738384295
Electronic 71691376.14
756.91
Limited
Dongguan Lide
Precision 72154629.
70222557.411932072.32
Industry Co. 73
Ltd.Luxshare
Precision
53432545
Industry 528298233.07 6027224.95
8.02
(Kunshan) Co.Ltd.Wan’an Xiexun
40619117.
Electronic Co. 40569471.03 49646.27
30
Ltd.Fujian JK
14746149
Wiring Systems 98998492.47 49000000.00 536997.61
4.86
Co. Ltd.Luxshare
Technologies 1655522.8
1342023.93313498.95
(Xingning) 8
Limited
Luxshare 79591170
Precision 791330487.80 4581213.24 1.04
Industry
390Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(Chuzhou) Co.
Ltd.SuK
33746516.
Kunststofftechn 33746516.14
14
ik GmbH
Fengshun
Luxshare
10350943.
Precision 10289768.88 61174.17
05
Industry Co.Ltd.Shenzhen
Luxshare
28560179.13781455.28560179.
Acoustics 13347749.31 433706.25
805680
Technology
Ltd.Dongguan
Luxshare
1055043652.610564412
Precision 1397640.12
592.77
Industry Co.Ltd.Luxshare
12113058
Automation 103263863.21 17866723.82
7.03
(Jiangsu) Ltd.Shenzhen
Luxshare 21000000.
21000000.00
Standard Co. 00
Ltd.Jiangxi
Luxshare
1122912585.611411935
Intelligent 18281002.88
388.51
Manufacture
Co. Ltd.Dongguan
Xuntao
-3519786.252803572.53-716213.72
Electronic Co.Ltd.Luxshare
Electronic 2371791611.0 24076213
35829732.56
Technology 5 43.61
(Kunshan) Ltd.Luxshare
Precision
1804294.610558421
Components 107388512.83
88.15
(Kunshan) Co.Ltd.Luxshare
Precision 10659558105698631.70 896948.66
Industry 0.36
(Enshi) Co.
391Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Yongxin
County Asap 2628540.4
2260903.59367636.89
Electronics Co. 8
Ltd.LUXSHARE- 5743116.4
3356699.142386417.27
ICT (Japan) 1
Luxshare-ICT
33217149
Co. Ltd. 252864073.40 79307419.84
3.24
(Taiwan)
Luxshare ICT 89369765.
75876196.0713493569.06
Inc. 13
Korea
6706610.6
Luxshare-ICT 6398323.76 308286.84
0
Co. Ltd.Luxshare-ICT
182206.32182206.32
Europe Limited
Merry
Electronics 38879304.
29774650.669104653.65
(Suzhou) Co. 31
Ltd.Luxshare
Technologies 70693020.
52377982.0018315038.29
(Suzhou) 29
Limited
Merry
Electronic 6198417.9
5304048.60894369.39
(Huizhou) Co. 9
Ltd.Jiangxi Asap
2696746.2
Electronics Co. 2723942.10 27195.83
7
Ltd.Luxshare
Precision
3551354.3
Industry 2639638.24 911716.13
7
(Baoding) Co.
Ltd.Shanxi
Luxshare
5619381.5
Precision 6594975.50 975593.93
7
Industry Co.Ltd.Dongguan
Luxshare
Smart-Link 1379603.90 387025.16 992578.74
Electronic
Technology
392Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Co. Ltd.Guangdong
Luxshare
1058103.7
Merry 1058103.73
3
Electronics Co.Ltd.Bozhou Lanto
13473333.
Electronic 12672602.07 800731.16
23
Limited
Huzhou Jiuding
4860577.6
Electronic Co. 4047521.89 813055.80
9
Ltd.Xinyu Xiexun
5832449.4
Electronic Co. 5490346.38 342103.03
1
Ltd.Luxshare
Precision
13306253
Industry 130000000.00 3062533.44
3.44
(Suzhou) Co.Ltd.Luxshare ITech
87766514
(Zhejiang) Co. 875925030.99 1740118.32
9.31
Ltd.Bozhou Xuntao
Electronics Co. 281764.46 281764.46
Ltd.Luxshare
Technologies 1245594897.1 12801558
34560934.99
(Dongguan) 6 32.15
Limited
Xuancheng
Luxshare
82810189
Precision 820793843.72 7308052.06
5.78
Industry Co.Ltd.Beijing
Luxshare
25907312.
Acoustics 21948453.09 3958859.87
96
Technology
Co. Ltd.Luxshare
Intelligent
Manufacture 1429162493.3 14564942
27331758.18
Technology 3 51.51
(Changshu)
Co. Ltd.Xingning
Luxshare 470455.20 66195.04 536650.24
Electronic Co.
393Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.SpeedTech 7882480.0
5037683.462844796.57
Corp. 3
Luxshare
2321682.8
Technologies 2321682.80
0
Limited
Changshu
Luxshare
Industrial 16392700
163927000.00
Investment 0.00
Management
Co. Ltd.Kunshan
Luxshare
Enterprise 20000000
200000000.00
Management 0.00
Development
Co. Ltd.Luxshare
Precision
2476517.5
Industry 1372576.20 1103941.31
1
(Jiangsu) Co.Ltd.Rida Intelligent
Manufacturing
38880047.
Technology 31865005.82 7015041.33
15
(Rugao) Co.Ltd.Luxix
Technology 25657283
248769925.097802912.93
(Kunshan) Co. 8.02
Ltd.Luxshare
Precision
Industry 357037.43 200339.88 557377.31
(Yancheng)
Co. Ltd.Luxshare
Electronic
45000000.
Technology 45000000.00
00
(Enshi) Co.
Ltd.Liding
Electronic
25294421
Technology 252514911.76 429301.14
2.90
(Dongguan)
Co. Ltd.Luxis Precision 33651426
Intelligent 331989006.07 4525262.36 8.43
Manufacturing
394Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(Kunshan) Co.Ltd.Luxshare
Precision
56491311.
Technology 53967867.57 2523444.40
97
(Nanjing) Co.Ltd.Luxshare-ICT
Electrics 9085850.0
6378314.302707535.79
Shanghai Co. 9
Ltd.Riming
Computer
64749494.
Accessory 45041405.95 19708088.39
34
(Shanghai) Co.Ltd.Shengrui
Electronic
1019353.0
Technology 758452.82 260900.19
1
(Shanghai) Co.Ltd.Rishan
Computer 49885658.
34976752.3314908906.19
Accessory Co. 52
Ltd.Luxshare-ICT
3912418.6
(Vietnam) 2985773.69 926644.97
6
Limited
Hangzhou
Xuntao 14633434.
14633434.47
Technology 47
Co. Ltd.Da Chuang
Precision
Intelligent 30042467.
27189050.152853417.03
Manufacturing 18
(Kunshan) Co.Ltd.Fengshun
Luxshare
25008054
Intelligent 250063997.87 16548.76
6.63
Manufacturing
Co. Ltd.Luxshare
Intelligent
Manufacturing
20472464
Electronic 203613780.36 1110860.96
1.32
Services
(Kunshan) Co.Ltd.
395Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Luxshare
Precision
4267250.6
Industry 2845177.38 1422073.29
7
(Wuhu) Co.Ltd.Dongguan
Huarong
Communication 633775.32 118506.69 752282.01
Technology
Co. Ltd.Luxshare
Precision
10548613.
Components 11230566.04 681952.08
96
(Suzhou) Co.Ltd.Zhejiang
PUSON
Electronic 839654.67 839654.67
Technology
Co. Ltd.Luxshare
Thermal
7645846.0
Technology 5910884.91 1734961.13
4
(Huizhou) Co.Ltd.Luxshare
Automotive
2373612.3
Technology 855516.37 1518095.93
0
(Shanghai) Co.Ltd.Luxshare
Precision
4304195.6
Industry 1470389.03 2833806.62
5
(Hubei) Co.Ltd.Luxshare
3116886.2
Precision (Van 2431205.11 685681.10
1
Trung) Limited
Huzhou
Luxshare
17365473
Precision 172355911.52 1298823.92
5.44
Industry Co.Ltd.Luxcase
Precision
5783488867.657921792
Technology 8690401.75
169.36
(Yancheng)
Co. Ltd.Casetek 2686945.31106124.01 1580821.32
Singapore Pte. 3
396Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.Luxcase
Precision
14283580.
Technology 9155160.30 5128420.58
88
(Kunshan) Co.Ltd.Luxshare
Precision
Industry 213500.00 213500.00
(Mingguang)
Co. Ltd.Shenzhen
Huarong 1264023.8
1365249.44101225.55
Technologies 9
Co. Ltd.Dongguan
Luxshare 13180000
131800000.00
Holdings Co. 0.00
Ltd.Luxshare
Technologies
7332.167332.16
(Shantou)
Limited
Jiangxi Time
Interconnect
2848147.1
Precision 2170318.14 677829.04
8
Industries
Limited
TIME
Interconnect
3542352.6
Technology 2766908.56 775444.09
5
(Kunshan)
Limited
Luxshare
Precision
Industry 69312.21 143890.87 213203.08
(Anhui) Co.
Ltd.Dongguan
Huarong
Supply Chain 127593.41 99237.23 28356.18
Management
Co. Ltd.TIME Da
Chuang
Information 487150.71 27551.20 459599.51
(Shanghai) Co.Ltd.Luxshare 636938.27 261748.92 898687.19
Technologies
397Luxshare Precision Industry Co. Ltd. 2025 Annual Report
(Chuzhou)
Limited
Asap
-
Technology 2096762.2
788191.091308571.1
(Jiangxi) Co. 8
9
Ltd.Luxshare -
Technologies -955943.32 696211.25 1652154.5
(Xi’an) Limited 7
Luxshare
Energy 2748168.5
141230.352606938.21
(Jiangxi) Co. 6
Ltd.Luxshare New
1317950.3
Energy (Anhui) 23953.01 1293997.36
7
Co. Ltd.Lilian Xunda
Intelligent
7084531.2
Terminal 3591186.89 3493344.35
4
(Jiashan) Co.Ltd.Luxshare
2523989.9
Technologies 1632346.70 891643.22
International
Luxshare
Communication 1500000000. 15000000
s (Shanghai) 00 00.00
Co. Limited
Luxshare
Automotive
24821054
Technology 248210546.71
6.71
(Jiangsu) Co.Ltd.Luxshare
Precision
13904924.
Industry 13904924.90
90
(Henan) Co.Ltd.Lisheng
Intelligent
7302500.8
Technology 7302500.84
4
(Shanghai) Co.Ltd.Rf Micro
Devices 3150044.6
3150044.64
(Beijing) Co. 4
Ltd.Lisheng 93588.83 93588.83
Intelligent
398Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Technology
(Chengdu) Co.
Ltd.Rf Micro
Devices
592178.69592178.69
(Dezhou) Co.
Ltd.Luxshare
Precision
Industry 417088.04 417088.04
(Handan) Co.Ltd.Luxcase Korea
124323.41124323.41
Co. Ltd.Luxshare
Precision
Industry 102947.71 102947.71
(Hefei) Co.Ltd.Cosmo
Industries
486661.93486661.93
Dongguan Co.Limited
Cosmo Crew
112306.60112306.60
Limited
Luxshare India
28076.6528076.65
Private Limited
Kunming
Wenxun 2738644516. 27386445
Industrial Co. 82 16.82
Ltd.Luxshare
Intelligent
7780000.0
Electronic 7780000.00
0
(Jiaxing) Co.Ltd.Excellox Inc. 12864.15 12864.15
Luxshare
Communication
10291.3210291.32
s (Hong Kong)
Co. Limited
Huangshi
Zhitong
44638.6144638.61
Electronics Co.Ltd.Jiaxing 740589.31 740589.31
Yongrui
399Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Electron
Technology
Co. Ltd.Kunming
Zhitong
210843.48210843.48
Electronics Co.Ltd.Luxshare
Power 3779801.3
3779801.30
(Kunshan) Co. 0
Ltd.Shanghai Lilian
Xunda
1739940.5
Intelligent 1739940.56
6
Terminal Co.Ltd.Shanghai
Luxshare
1760459.4
Electronic 1760459.42
2
Technology
Co. Ltd.Shanghai
Luxshare
3865832.4
Information 3865832.49
9
Technology
Co. Ltd.Luxshare
Supply Chain
3979571.0
Technology 3979571.07
7
(Shenzhen)
Co. Ltd.Shenzhen
Luxshare
1684020.5
Zhitong 1684020.59
9
Technology
Co. Ltd.Wuxi Litong
Information
339356.38339356.38
Technology
Co. Ltd.Xi’an Luxshare
Information 1635805.6
1635805.69
Technology 9
Co. Ltd.Luxshare
Technologies 280766.50 280766.50
SG Pte. Ltd.Luxshare 2748168.5
Energy 2748168.56 6
(Jiangxi) Co.
400Luxshare Precision Industry Co. Ltd. 2025 Annual Report
Ltd.
24735537879.28560179.5073108429.11240319.2979740528560179.
Total 0.00 0.00
63807709990.3180
(2) Investments in associates and joint ventures
Unit: RMB
Changes during the current period
Opening Opening Investment Closing Closing
balance balance of profit or balance balance of
Investee Adjustments Cash
(carrying impairment loss Other Impairment Additional Reduction in to other dividends (carrying impairment
value) provision recognized equity provision Others investment investment comprehensiv or profits value) provision
under the changes made
e income declared
equity
method
I. Joint Ventures
II. Associates
Zhuhai
Kinwong
1826351110678931.193314034372608
Flexible 34372608.46
7.153648.51.46
Circuit Co.Ltd.Lisheng
Automotive -
108531628969589
Technology 18835733.
9.345.37
(Guangzhou 97
) Co. Ltd.-
29116674283009934372608
Subtotal 34372608.46 8156802.6
6.4943.88.46
1
-
29116674283009934372608
Total 34372608.46 8156802.6
6.4943.88.46
1
Recoverable amount determined based on fair value less costs of disposal
□ Applicable □Not applicable
Recoverable amount determined based on the present value of estimated future cash flows
□ Applicable □Not applicable
Reasons for significant differences between the above information and the information used in impairment tests in prior years or
external information
None.Reasons for significant differences between the information used by the Company in impairment tests in prior years and the actual
circumstances of the current year
None.
(3) Other notes
None.
401Luxshare Precision Industry Co. Ltd. 2025 Annual Report
4. Operating revenue and operating costs
Unit: RMB
Current-period amount Prior-period amount
Item
Revenue Cost Revenue Cost
Principal business 15166601860.08 14464839866.72 11253222393.80 10665261039.90
Other business 596103197.80 390210319.13 360627860.64 250200125.93
Total 15762705057.88 14855050185.85 11613850254.44 10915461165.83
Breakdown of operating revenue and operating costs:
Unit: RMB
Segment 1 Segment 2 Total
Classification
of contracts Operating Operating Operating Operating Operating Operating Operating Operating
revenue cost revenue cost revenue cost revenue cost
By business
type
Incl.:
By operating
region
Incl.:
By market or
customer
type
Incl.:
By contract
type
Incl.:
By the timing
of the
transfer of
402Luxshare Precision Industry Co. Ltd. 2025 Annual Report
goods
Incl.:
By contract
term
Incl.:
By sales
channel
Incl.:
Total
Information related to performance obligations:
Types of
Amounts quality
Timing of Nature of goods
Whether the expected to be assurance
satisfying Key payment promised to be
Item Company acts refunded to offered by the
performance terms transferred by
as principal customers by Company and
obligations the Company
the Company related
obligations
Other notes
Information related to transaction prices allocated to the remaining performance obligations:
At the end of the Reporting Period the amount of revenue corresponding to performance obligations under signed contracts that had
not yet been satisfied or had not yet been fully satisfied was RMB0.00 of which RMB[] is expected to be recognized as revenue in []
RMB[] is expected to be recognized as revenue in [] and RMB[] is expected to be recognized as revenue in [].Significant contract modifications or significant adjustments to transaction prices
Unit: RMB
Item Accounting treatment Amount of impact on revenue
Other notes:
5. Investment income
Unit: RMB
Item Current-period amount Prior-period amount
Investment income from long-term
equity investments accounted for using 5172000000.00 1881900000.00
the cost method
Investment income from long-term -8156802.61 -10214447.00
403Luxshare Precision Industry Co. Ltd. 2025 Annual Report
equity investments accounted for using
the equity method
Investment income from disposal of
-1058103.7310018847.56
long-term equity investments
Investment income from the disposal of
20682851.293192622.62
financial assets held for trading
Income from derecognition of financial
-2315301.40-32618718.19
assets measured at amortized cost
Investment income from wealth
336430595.19221755084.56
management products
Total 5517583238.74 2074033389.55
6. Others
None.XX. Supplementary Information
1. Breakdown of non-recurring gains or losses for the current period
□Applicable □ Not applicable
Unit: RMB
Item Amount Note
Gains or losses on disposal of non-
-17418397.37
current assets
Government grants recognized in profit
or loss for the current period (except for
government grants that are closely
related to the Company’s regular
operations comply with national 827502791.66
policies are granted in accordance with
national policies and defined standards
and have a continuing impact on the
Company’s profit or loss)
Gains or losses from changes in fair
value of financial assets and financial
liabilities held by non-financial
enterprises and gains or losses from the
1093310008.82
disposal of financial assets and financial
liabilities except for effective hedging
business related to the Company’s
regular business
Gains or losses from entrusted
1379688445.70
investment or asset management
Gains arising where the investment cost
of acquiring subsidiaries associates or
joint ventures is lower than the fair value 479317064.85
of the investee’s identifiable net assets
attributable to the Company at the time
404Luxshare Precision Industry Co. Ltd. 2025 Annual Report
of acquisition
Other non-operating income and
-23539377.49
expenses other than the above items
Other items meeting the definition of
-328437371.09
non-recurring gains or losses
Gains on disposal of investments in
associates
Less: Effect of income tax 424961257.64
Effect of minority interests (after
554548089.95
tax)
Total 2430913817.49 --
Details of other items meeting the definition of non-recurring gains or losses
□ Applicable □Not applicable
The Company had no other items meeting the definition of non-recurring gains or losses.Reclassification of certain non-recurring items as recurring items under the Explanatory Announcement No.1 on Information Disclosure
for Companies Offering Securities to the Public: Non-recurring Gains or Losses
□ Applicable □Not applicable
2. ROE and earnings per share
Earnings per share
Profit for the Reporting
Weighted average ROE
Period Basic earnings per share Diluted earnings per share
(RMB/share) (RMB/share)
Net profit attributable to
ordinary shareholders of the 21.10% 2.29 2.26
Company
Net profit attributable to
ordinary shareholders of the
18.29%1.951.93
Company after deducting
non-recurring gains or losses
3. Differences in accounting data under domestic and overseas accounting standards
(1) Differences in net profit and net assets between financial reports disclosed under IAS and CAS
□ Applicable □Not applicable
(2) Differences in net profit and net assets between financial reports disclosed under overseas accounting standards and CAS
□ Applicable □Not applicable
(3) Explanation of the reasons for differences in accounting data under domestic and overseas accounting standards. Where
adjustments are made to data audited by an overseas auditor the name of such overseas auditor shall be stated.
4. Others
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