巨星科技:杭州巨星科技股份有限公司2024年年度报告(英文版)

Hangzhou Great Star Industrial Co., Ltd.
2024Annual Report
2025-004
April 2025

2024Annual Report
Section I Important Notice, Table of contents and Definitions
The Board of Directors and the Board of Supervisors of the Company and its directors,
supervisors and senior management hereby warrant that the information contained in this
annual report is true, accurate and complete without any fictitious records, misleading
statements or material omissions, and severally and jointly assume legal responsibility
thereof.
Qiu Jianping, person in charge of the Company, and Ni Shuyi, person in charge of
accounting and person in charge of the accounting department (Accounting Officer), have
declared that they warrant the truthfulness, accuracy and completeness of the financial
statements set out in this annual report.
All directors of the Company were present in person at the Board of Directors' meeting for
the review of this Report.
Forward-looking statements including future plans involved in this Report do not constitute
the Company's substantive commitments to investors. The investors and those who are
interested are advised to pay attention to relevant risks and understand the difference
between plans, projections and commitments.
The Report has described the Company's risk factors that may exist in its operations in
detail in "Section III Discussion and Analysis of the Management, (XI) Prospects for the
Company's Future Development: Potential Risks". Please pay attention to the relevant
contents.
The Company will not distribute cash dividend, issue bonus shares or transfer capital
reserve into share capital.
Table of Contents

Section I Important Notice, Table of contents and Definitions ......2
Section II Company Profile and Key Financial Indicators ...... 11
I. Company Information...... 11
II. Contact persons and contact methods...... 11
III. Information Disclosure and Place for Inspection ......12
IV. Changes in Registration Information......12
V. Other Relevant Information ......12
VI. MajorAccounting Data and Financial Indicators ......13
VII. Difference inAccounting Data under Domestic and OverseasAccounting

Standards ......14
VIII. Key Financial Indicators by Quarter......14
IX. Items andAmounts of Non-recurring Gains and Losses......15
Section III Discussion andAnalysis of the Management ......17
I. Industry Overview During the Reporting Period......17
II. Principal Business of the Company during the Reporting Period......17
III. Core Competencies......18
IV.Analysis of Principal Business......19
V.Analysis of Non-principal Business......57
VI.Analysis ofAssets and Liabilities......57
VII.Analysis of Investment Status......62
VIII. Sale of MajorAssets and Equity......76
IX.Analysis of Major Holding and Equity Participation Companies......76
X. Structural Subjects Under Control of the Company......78
XI. Prospects for the Company's Future Development......78
XII.Activities Involving Hosting Research, Communication, Interviews, etc. in

Reporting Period ......80
XIII. Formulation and Implementation of Market Capitalization Management

System and Value Enhancement Plans......81
XIV. Implementation of the "Quality & Returns Enhancement"Action Plan......82
Section IV Corporate Governance......83
I. Basic Status of Corporate Governance......83
II. Independence of the Company from Controlling Shareholders andActual
Controllers in terms of CompanyAssets, Personnel, Finances, Organizations, and

Operations......84
III. Horizontal Competition ......85
IV. Description ofAnnual and Extraordinary General Meetings Held During

Reporting Period ......85
V. Directors, Supervisors and Senior Management Personnel......86
VI. Performance of Duties by Directors during the Reporting Period......101
VII. Performance of Committees under the Board of Directors During the

Reporting Period ......103
VIII. Performance of Board of Supervisors......107
IX. Employees......107
X. Profit Distribution of the Company and Transfer of Capital Reserve into Share

Capital ......109
XI. Implementation of the Company's Equity Incentive Plan, Employee Stock

Ownership Plans or Other Employee Incentive Measures...... 110
XII. Development and Implementation of the Internal Control System During the

Reporting Period ...... 110
XIII. The Company's Management and Control over Subsidiaries During the

Reporting Period ...... 110
XIV. Internal Control Evaluation Report or Internal ControlAudit Report...... 111
XV. Correction of Issues Identified by Self-Inspection in the Corporate Governance

Special Operation for Listed Companies ...... 113
Section V Environmental and Social Responsibility ...... 114

I. Major Environmental Protection Issues...... 114
II. Social Responsibility...... 114
III. Consolidating and ExpandingAchievements in