Summary of Yuan Zheng Technology Conference Call Company Overview - **Company**: Yuan Zheng Technology - **Period**: First half of 2025 - **Revenue**: 894 million RMB, a year-on-year increase of 10% [2][4] - **Net Profit**: 196 million RMB, a year-on-year increase of 28%, with a net profit margin of 20% [2][6] Key Financial Metrics - **Revenue Adjusted for Deferred Income**: 1.016 billion RMB, a year-on-year increase of 15% [4] - **Total Expenses**: Increased by approximately 50 million RMB, with financial expenses rising by 12 million RMB due to exchange rate losses [8] - **Actual Profit After Adjustments**: Approximately 250 million RMB [9] Product Performance - **Diagnostic Equipment**: - Units shipped: 167,000, a year-on-year increase of 16% [7] - Overseas market growth: 17% [7] - E-commerce channel growth: 30% [2] - **DIY Equipment**: Decreased shipments as the company shifts focus to high-end diagnostic devices [7] - **Tire Pressure Sensors**: 630,000 units shipped, a year-on-year increase of 87% [7] - **Original Products Revenue**: 720 million RMB, a year-on-year increase of 13% with a gross margin of 47% [10] - **OEM Automotive Equipment Revenue**: 100 million RMB, a year-on-year decrease of 15% [10] - **Software Revenue**: 104 million RMB recognized, with an expected total of 144 million RMB if adjusted for deferred income [10] Market Dynamics - **Overseas Revenue**: 750 million RMB, a year-on-year increase of 19%, accounting for 78% of total revenue [15] - **Domestic Revenue**: 210 million RMB, a year-on-year decrease due to reduced OEM equipment orders [15] - **Regional Growth**: North America grew by 23%, while Asia-Pacific and Russian regions grew by 20% [20] Strategic Insights - **Cost Control**: Effective management of expenses with minimal increases in management and R&D costs [8] - **Dividend and Buyback**: Mid-year dividend of 0.31 RMB per share, totaling approximately 130 million RMB, representing 65% of total profit [30] - **Sales Expenses**: Increased to support new product launches, particularly in overseas markets [32] Future Outlook - **2025 Revenue Target**: Expected to reach 2.18 billion RMB, a year-on-year increase of 20% [5][23] - **Software Revenue Projection**: Anticipated to reach close to 200 million RMB in 2026, driven by increased device sales and software upgrade demand [35] - **Remote Diagnosis Service**: Revenue expected to reach 40 million RMB, with significant growth anticipated [37] Risks and Challenges - **Tariff Impact**: The Trump tariffs affected shipping schedules, causing delays and potential revenue loss of several million USD [19] - **Exchange Rate Risks**: Potential impact on financial statements if the RMB appreciates significantly [27] Conclusion Yuan Zheng Technology demonstrated strong performance in the first half of 2025, with significant growth in net profit and effective cost management. The company is strategically focusing on enhancing its software and service offerings while navigating challenges posed by tariffs and exchange rate fluctuations. The outlook for the remainder of the year remains positive, with expectations for continued growth in revenue and profitability.

格隆汇8月6日丨元征科技(02488.HK)发布公告，2025年8月6日耗资249.93万港元回购20.25万股，回购价 格每股12.02-12.34港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 深圳市元征科技股份有限公司 呈交日期： 2025年8月6日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02488 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | | 事件 | 已發行股份（不包括 ...

| 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00011 | 恒生银行 | 20.00 | 2271.70 | 114.200 | 113.100 | 6798.11 | | 02488 | 元征科技 | 43.35 | 515.26 | 12.030 | 11.230 | 3486.99 | | 09896 | 名创优品 | 3.24 | 123.01 | 38.000 | 37.820 | 32236.89 | | 02256 | 和誉-B | 8.40 | 92.66 | 11.350 | 10.820 | 7826.50 | | 00345 | VITASOY INT'L | 4.60 | 42.31 | 9.260 | 9.170 | 21942.60 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 值得关注的是，本次回购123.01万港元的名创优 ...

Core Viewpoint - Yuan Zheng Technology (02488.HK) reported significant growth in its mid-year performance for 2025, driven by the application of smart algorithms and AI technology, with a revenue of 982 million yuan, a 10% increase year-on-year, and a net profit of 196 million yuan, a 28% increase year-on-year [1][2]. Financial Performance - The company's revenue for the first half of 2025 reached 982 million yuan, marking a 10% year-on-year growth [2][3]. - Net profit for the same period was 196 million yuan, reflecting a 28% increase compared to the previous year [2][3]. Business Segments - Overseas business achieved record revenue of 746 million yuan, accounting for 76% of total revenue, benefiting from digital operations and AI applications [1][2]. - The company connected its automotive diagnostic equipment to over 390 million vehicles globally, generating an average of 1.05 million diagnostic reports daily [1][5]. R&D and Innovation - Yuan Zheng Technology strengthened its R&D efforts, obtaining 21 authorized invention patents in the first half of 2025, with R&D personnel constituting approximately 49% of the total workforce [1][4][5]. - The company launched an AI-driven intelligent repair assistant, integrated into its web platform and diagnostic app, achieving over 90% accuracy in fault diagnosis [4]. Market Expansion - The company’s overseas market has become a core growth driver, with a 50% increase in equipment shipments to 300,000 units in 2024, and overseas markets contributing 72% of revenue [3]. - The North American market accounted for 40% of revenue, with a year-on-year growth of 35% [3]. Cost Management - The ratio of main business costs to revenue decreased by 1% in the first half of 2025, with total expenses (management, R&D, sales, and financial) accounting for approximately 30% of main business revenue [3]. Customer Engagement - The company reported a 28% year-on-year increase in customer software purchases, totaling 104 million yuan, and a 53% increase in remote diagnostic service purchases, amounting to 8.7 million yuan [5]. - The active user base for automotive diagnostic devices reached over 3.5 million annually, with approximately 1.3 million active users in China and around 1 million in the U.S. [5].

Summary of the Conference Call for Yuan Zheng Technology Company Overview - **Company**: Yuan Zheng Technology - **Industry**: Automotive diagnostic equipment and software Key Financial Metrics - **Revenue**: - H1 2025 revenue was CNY 0.7 billion, but adjusted for deferred income, it should be CNY 1.016 billion, a 14% increase YoY [2][4] - Net profit reached CNY 1.96 billion, a 28% increase YoY, with a net profit margin improvement of 3 percentage points [2][4] - Adjusted net profit, considering foreign exchange losses, would be CNY 2.4 billion, maintaining a 28% growth rate [2][4] - **Product Shipments**: - Total device shipments were 167,000 units, a 16% increase YoY, driven by overseas markets (17% growth) and e-commerce channels (30% growth) [2][5] - DIY device shipments decreased slightly, while tire pressure sensors saw a significant increase of 87%, reaching 630,000 units [2][6] Expense Management - Total expenses increased by CNY 54 million, with financial expenses rising by over CNY 12 million [7][8] - R&D and management expenses were controlled within reasonable limits, with R&D expenses increasing by CNY 7 million [7][8] Business Segment Performance - **Self-developed Equipment**: Revenue was CNY 720 million, a 13% increase YoY, with a target of CNY 2 billion for the year [9] - **OEM Equipment**: Revenue decreased by 15% to CNY 100 million, with a stable gross margin [9] - **Software Business**: Reported revenue of CNY 70 million, a 13% decline YoY, but adjusted for deferred income, it shows a 28% growth [10] Service and Data Business - Strong performance in service and data segments, with remote diagnostic services and big data revenues growing by 53% and 61% respectively [11] - Expected to achieve a total of CNY 40 million in service and data revenue for the year [11] Market and Regional Performance - **Tire and New Energy Sector**: Revenue of CNY 28 million, a 51% increase YoY, but still short of the annual target of CNY 110 million [12] - **Overseas Market**: Revenue reached CNY 750 million, a 19% increase YoY, with a gross margin of 51% [13] - **Domestic Market**: Revenue decreased to CNY 210 million, primarily due to a drop in OEM equipment sales [14] Strategic Initiatives - Plans to introduce new energy equipment and data processing on-chain, adopting RWA models to expand the new energy equipment business [15] - Strategies to mitigate US tariffs include changing product codes and relocating some production to Vietnam [28] Future Outlook - The company is optimistic about achieving its revenue targets for the second half of the year, particularly in the new energy and tire sectors [12][22] - Anticipates a significant increase in sales from new products, with a target of CNY 80 million in revenue for the second half [22] Investment Considerations - The company maintains a high market share in domestic diagnostic equipment, exceeding 70% [29] - The overall growth target for the year is CNY 2.184 billion, with a 20% YoY increase expected [20] - The company is viewed as a solid investment opportunity with a P/E ratio of approximately 10 times and a dividend yield of around 8% [37]

证券时报·数据宝统计，元征科技在港交所公告显示，8月5日以每股11.230港元至12.030港元的价格回购 43.35万股，回购金额达515.26万港元。该股当日收盘价12.030港元，下跌4.60%，全天成交额9222.65万 港元。 今年以来该股累计进行24次回购，合计回购349.10万股，累计回购金额3486.99万港元。（数据宝） 元征科技回购明细 （文章来源：证券时报网） | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.08.05 | 43.35 | 12.030 | 11.230 | 515.26 | | 2025.04.24 | 31.45 | 10.780 | 10.500 | 337.02 | | 2025.04.23 | 3.90 | 10.400 | 9.970 | 39.97 | | 2025.04.22 | 16.70 | 10.480 | 9.630 | 163.60 | | 2025.04.17 | 15.35 | 10.060 | 9.710 ...

元征科技(02488)公布，2025年8月5日耗资约515.26万港元回购43.35万股股份。 ...

格隆汇8月5日丨元征科技(02488.HK)公告，8月5日耗资515万港元回购43.35万股。 ...

智通财经APP讯，元征科技(02488)公布，2025年8月5日耗资约515.26万港元回购43.35万股股份。 ...