返利科技发布半年报，上半年公司实现营业收入1.86亿元，同比增长36%，增长动能聚焦核心业务升 级：在线导购业务收入8835万元，同比大增46%，海外导购业务成为关键增长点。公司针对性研发AI海 外电商导购工具矩阵，包括AI生成导购内容工具、面向商家与媒体的AI营销智能体等，通过技术手段 提升运营效率。上半年海外导购贡献收入约4400万元，月复合增长率达54%，5月单月导购交易额突破1 亿元，合作商家超4万家且覆盖100多个国家，全球化布局成效显著。AI技术深度赋能业务提质增效， 是本次报告核心亮点。返利科技表示，未来将继续深化AI技术在海外导购、智能营销等领域的融合应 用，进一步释放增长潜力，推动公司整体业务向智能化、国际化加速迈进。 ...

证券代码：600228 证券简称：*ST 返利 公告编号：2025-049 返利网数字科技股份有限公司 第十届董事会第十一次会议决议公告 本公司董事会及全体董事保证公告内容不存在虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 具体内容详见公司于同日在指定信息披露媒体披露的《公司 2025 年半年度报 告摘要》及上海证券交易所网站（www.sse.com.cn）上披露的《公司 2025 年半年度 报告》全文及摘要。 （二） 审议通过《关于公司 2025 年半年度审计费用和聘用条款的议案》 此项议案表决情况为：7 票赞成，0 票反对，0 票弃权。 一、董事会会议召开情况 返利网数字科技股份有限公司（以下简称"公司"）于 2025 年 8 月 23 日、8 月 25 日以电子邮件或直接送达方式发出第十届董事会第十一次会议通知及补充通 知，会议于 2025 年 8 月 26 日以现场结合通讯方式在公司会议室召开，全体董事一 致同意豁免本次会议的通知期限。会议应到董事 7 人，实到董事 7 人。公司高级管 理人员列席本次会议。 会议由董事长葛永昌先生主持，与会董事经过认真审议，表决 ...

证券代码：600228 证券简称：返利科技 公告编号：2025-050 返利网数字科技股份有限公司 关于召开2025年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 9 月 11 日（星期四）下午 15:00-16:00； 会议召开地点：上海证券交易所"上证路演中心"网络平台（http://roadshow. sseinfo.com/）、"价值在线"平台（www.ir-online.cn）； 会议召开方式：上证路演中心及价值在线平台网络互动； 会议问题征集方式：投资者可于 2025 年 9 月 2 日（星期二）至 2025 年 9 月 10 日（星期三）下午 16:00 前，通过电话、电子邮件、"上证路演中心"网络平台 （http://roadshow.sseinfo.com/）、"价值在线"平台（www.ir-online.cn）或其微信小 程序等方式向返利网数字科技股份有限公司（以下简称"公司"）提出关注的问题， 公司将在说明会上就投资者普遍关注的问题，在 ...

2025 提质增效重回报 行动方案 半年度执行情况评估报告 返利网数字科技股份有限 公 司 ` 2025 年 8 月 目录 01 提升经营质量：业务布局稳步推 进、收入规模明显提升 02 完善公司治理：规范治理运作， 坚持可持续发展 04 强化"关键少数"责任：压实相 关方职责，提升履职能力 05 提升投资者回报：增强股东获得 感，提振市场信心 加强投资者沟通：保障投资者沟 通渠道、提高公司透明度 06 " 返利网数字科技股份有限公司（下简称"公司"）为积极响应上海证券交易所《关于开 展沪市公司"提质增效重回报"专项行动的倡议》，推动公司高质量发展和投资价值提升， 增强投资者回报与投资者获得感，于2025年4月审议并披露了《2025年度"提质增效重回报" 行动方案》。 加快发展新质生产力：增强技术 研发投入、探索AI落地场景 03 2025年上半年，公司以提质增效为抓手，通过业务优化、技术投入、并购拓展及财务管 理四大维度，积极开展、落实相关工作，取得阶段性进展和成效。现将2025 年度"提质增 效重回报"行动方案的半年度评估情况报告如下： " 2025年度"提质增效重回报"行动方案 半年度执行情况评估报告 ...

Financial Performance - The company achieved operating revenue of 186 million yuan in the first half of 2025, representing a year-on-year increase of 36.01%[7] - The net profit attributable to shareholders was a loss of 33.28 million yuan, showing a significant year-on-year decline[7] - The net profit excluding non-recurring gains and losses was a loss of 30.90 million yuan, also reflecting a substantial year-on-year decrease[7] - The total profit for the period was a loss of ¥36,245,260.68, a significant decline of 954.60% from a profit of ¥4,241,172.23 in the previous year[26] - The net profit attributable to shareholders decreased significantly, with a net loss of -32,322,178.41 RMB, compared to a profit of 3,364,594.25 RMB in the same period last year, representing a decrease of 1,060.66%[34] - The company's operating income growth was primarily driven by an increase in overseas shopping guide services and self-operated retail business[28] - The net cash flow from operating activities was negative at ¥66,559,683.44, compared to a negative cash flow of ¥5,022,339.88 in the previous year[26] - The weighted average return on equity decreased to -7.55%, a decline of 0.23 percentage points compared to the same period last year[28] - The net cash flow from operating activities decreased due to increased costs and expenses compared to the same period last year[28] Risks and Challenges - The company faces risks related to declining operating performance and increased user acquisition costs in the competitive internet e-commerce market[7] - The stock has been subject to delisting risk warnings due to negative net profit and insufficient revenue, with the stock trading being warned on April 28, 2025[7] - The company warns investors about various operational risks, including the potential for further losses in the future[10] - The company faced risks related to market competition and operational challenges, which could impact its overall performance[84] - The online shopping market is experiencing rising costs for user acquisition, making it harder to attract new users, which may lead to a decline in operating income and profitability[86] - The company is exposed to risks from natural disasters and unforeseen events that could impact operations and profitability[89] Asset and Equity Management - The parent company has accumulated unremedied losses of approximately 677.51 million yuan, which poses challenges for cash dividend distribution[8] - The total assets at the end of the reporting period were ¥606,012,619.85, reflecting a 1.83% increase from ¥595,100,243.48 at the end of the previous year[26] - The net assets attributable to shareholders decreased by 7.08% to ¥424,832,367.02 from ¥457,189,212.41 at the end of the previous year[26] - The company's cash and cash equivalents decreased by 16.87%, totaling RMB 338,014,408.15, down from RMB 406,607,449.93[59] - The company's inventory increased by 231.57%, amounting to RMB 8,811,895.36, compared to RMB 2,657,620.56 in the previous year[59] - The total liabilities rose to CNY 181,180,252.83 from CNY 137,911,031.07, marking an increase of around 31.19%[143] - The company's equity attributable to shareholders decreased to CNY 424,832,367.02 from CNY 457,189,212.41, a decline of about 7.06%[144] Revenue Streams - Online shopping services generated revenue of 88.35 million RMB, up 46.41% year-on-year, with a gross margin of 40.18%, down 7.04 percentage points[48] - Advertising promotion revenue was 36.89 million RMB, an increase of 8.18% year-on-year, with a gross margin of 93.61%, up 32.81 percentage points[48] - Platform technology service revenue declined by 32.07% year-on-year to 28.58 million RMB, with a gross margin of 12.91%, down 35.53 percentage points[48] - Other products and services generated revenue of 32.24 million RMB, with a negative gross margin of -2.11% due to price subsidies for self-operated retail[50] - The proportion of revenue from the guiding service increased from approximately 44% to 48%, while advertising revenue decreased from approximately 25% to 20%[51] Investments and Subsidiaries - The company participated in the establishment of the Ganzhou Digital Industry Fund with a subscribed capital of RMB 90 million, holding a 45% stake[67] - The company also initiated the Zhuhai Qingke Pujiang Fund with a subscribed capital of RMB 49 million, holding a 49% stake, and has contributed RMB 39 million so far[67] - The total fair value of private equity funds held by the company at the end of the period was RMB 976.11 million[68] - The company’s subsidiary, Ganzhou Nuchang Information Technology Co., Ltd., reported a net profit of RMB 66,400[69] - The company’s subsidiary, Beijing Zhongyan Rebate Information Technology Co., Ltd., incurred a net loss of RMB 184,010[69] Corporate Governance and Compliance - The company emphasizes the importance of compliance with national laws and regulations, which may affect its operational strategies[84] - The company has established internal controls to mitigate the risk of material misstatements in financial reporting[137] - The company has committed to ensuring the authenticity, accuracy, and completeness of information provided during the major asset restructuring transaction[102] - The company has appointed an accounting firm for the 2025 financial audit, continuing its relationship with the current auditor[108] - The company has committed to not providing financial assistance for stock options or restricted stock under the 2024 incentive plan[105] Future Outlook and Strategic Initiatives - The company is investing in AI-based overseas e-commerce shopping tools to enhance operational efficiency and effectiveness[45] - The company has launched new AI products, but these new business ventures are still in their early stages and face operational uncertainties[87] - The online shopping guide industry is experiencing a shift towards high-quality development, with a projected online retail sales growth of 8.5% year-on-year for the first half of 2025[37] - The competition landscape in the internet industry is changing, with a focus on efficiency rather than just traffic acquisition, as platforms seek to retain merchants and enhance ecosystem collaboration[38] - The company is focused on supporting industrial upgrades in the local area as part of its commitment to the digital economy[100]

Market Overview - The Shanghai Composite Index closed at 3888.00 points, above the six-month moving average, with a slight increase of 0.11% [1] - The total trading volume of A-shares reached 16993.57 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 46 A-shares have surpassed the six-month moving average today, with notable stocks including Shuguang Co., Zhengdan Co., and Dongbai Group, showing divergence rates of 4.78%, 4.68%, and 2.88% respectively [1] - Stocks with smaller divergence rates that have just crossed the six-month moving average include Jinjiang Hotels, Mingchen Health, and Spring Airlines [1] Top Stocks by Divergence Rate - The top three stocks with the highest divergence rates are: - Shuguang Co. (600303) with a price increase of 6.23%, turnover rate of 9.78%, six-month line at 3.74 yuan, latest price at 3.92 yuan, and a divergence rate of 4.78% [1] - Zhengdan Co. (300641) with a price increase of 6.11%, turnover rate of 6.57%, six-month line at 24.40 yuan, latest price at 25.54 yuan, and a divergence rate of 4.68% [1] - Dongbai Group (600693) with a price increase of 3.53%, turnover rate of 5.38%, six-month line at 6.27 yuan, latest price at 6.45 yuan, and a divergence rate of 2.88% [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Tianbang Food (002124) with a price increase of 3.30%, turnover rate of 4.80%, six-month line at 3.05 yuan, latest price at 3.13 yuan, and a divergence rate of 2.74% [1] - *ST Haiyuan (002529) with a price increase of 5.06%, turnover rate of 1.38%, six-month line at 6.68 yuan, latest price at 6.85 yuan, and a divergence rate of 2.53% [1] - Senqilin (002984) with a price increase of 4.22%, turnover rate of 4.06%, six-month line at 20.00 yuan, latest price at 20.48 yuan, and a divergence rate of 2.43% [1]

Group 1 - The core point of the article highlights the recent performance of *ST Fanli (600228), which closed at 4.55 yuan, down 3.19% as of August 25, 2025, with a trading volume of 12.56 million shares and a transaction amount of 57.76 million yuan [1] - The company experienced a net outflow of main funds amounting to 10.51 million yuan, accounting for 18.2% of the transaction amount, with significant outflows from large orders [1] - The latest quarterly report indicates that the company's total operating revenue was 53.60 million yuan, a year-on-year decrease of 16.68%, and the net profit attributable to shareholders was 13.98 million yuan, a decrease of 440.90% year-on-year [1] Group 2 - Fanli Network Digital Technology Co., Ltd. was established in 1999 and is primarily engaged in the manufacturing of specialized equipment, with a registered capital of 4.23 billion yuan [1] - The company has made investments in 10 external enterprises and participated in 11 bidding projects, along with holding 2 administrative licenses [2]

Market Performance - On August 25, the digital media sector rose by 2.31%, with "Zhi De Mai" leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Individual Stock Performance - "Zhi De Mai" (300785) closed at 36.92, up 6.31% with a trading volume of 265,600 shares and a turnover of 964 million yuan [1] - "Mango Super Media" (300413) closed at 27.09, up 6.11% with a trading volume of 583,500 shares and a turnover of 1.523 billion yuan [1] - "Na Yue Technology" (603533) closed at 22.46, up 5.05% with a trading volume of 307,500 shares and a turnover of 676 million yuan [1] - "Visual China" (000681) closed at 22.24, up 1.46% with a trading volume of 506,200 shares and a turnover of 1.126 billion yuan [1] Capital Flow Analysis - The digital media sector saw a net inflow of 84.871 million yuan from institutional investors, while retail investors experienced a net outflow of 21.647 million yuan [2] - "Mango Super Media" had a net inflow of 13.8 million yuan from institutional investors, but retail investors withdrew 80.882 million yuan [3] - "Visual China" experienced a net outflow of 1.4743 million yuan from institutional investors, while retail investors had a net inflow of 3.2268 million yuan [3]

Core Viewpoint - The digital media sector experienced a rise of 0.83% on August 22, with Zhuochuang Information leading the gains, while the overall market indices also showed positive performance [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3825.76, up by 1.45% [1] - The Shenzhen Component Index closed at 12166.06, up by 2.07% [1] Group 2: Individual Stock Performance - Zhuochuang Information (301299) closed at 68.21, with an increase of 2.88% and a trading volume of 38,700 shares, amounting to a transaction value of 262 million yuan [1] - Visual China (000681) closed at 21.92, up by 2.19% with a trading volume of 450,600 shares, totaling 98.36 million yuan [1] - ST Fanli (600228) closed at 4.70, increasing by 1.51% with a trading volume of 109,100 shares, amounting to 51.46 million yuan [1] - People's Daily Online (603000) closed at 22.01, up by 1.24% with a trading volume of 282,400 shares, totaling 619 million yuan [1] - Xinhua Net (603888) closed at 20.53, increasing by 1.13% with a trading volume of 141,900 shares, amounting to 290 million yuan [1] - Fantou Digital Creation (301313) closed at 27.32, up by 0.89% with a trading volume of 39,100 shares, totaling 106 million yuan [1] - Chuanwang Media (300987) closed at 19.64, increasing by 0.77% with a trading volume of 60,800 shares, amounting to 119 million yuan [1] - Zhi De Mai (300785) closed at 34.73, up by 0.75% with a trading volume of 78,700 shares, totaling 272 million yuan [1] - Zhangyue Technology (603533) closed at 21.38, increasing by 0.56% with a trading volume of 135,700 shares, amounting to 290 million yuan [1] - Fengyuzhu (603466) closed at 10.97, up by 0.18% with a trading volume of 198,500 shares, totaling 217 million yuan [1] Group 3: Capital Flow - The digital media sector saw a net inflow of 51.39 million yuan from main funds, while retail funds experienced a net inflow of 60.37 million yuan [1] - There was a net outflow of 112 million yuan from speculative funds in the digital media sector [1]

Market Overview - On August 21, the digital media sector experienced a slight decline of 0.06%, with Chuanwang Media leading the drop [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Stock Performance - Notable stock performances in the digital media sector included: - Xinhua Net (603888) closed at 20.30, up 1.05% with a trading volume of 132,300 shares and a turnover of 268 million yuan - Shining Star (002095) closed at 22.46, up 0.85% with a trading volume of 230,300 shares and a turnover of 521 million yuan - People's Daily (603000) closed at 21.74, up 0.74% with a trading volume of 187,900 shares and a turnover of 407 million yuan - Chuanwang Media (300987) closed at 19.49, down 1.22% with a trading volume of 78,100 shares and a turnover of 154 million yuan [1][2] Capital Flow - The digital media sector saw a net outflow of 120 million yuan from institutional investors, while retail investors contributed a net inflow of 113 million yuan [2] - The capital flow for specific stocks included: - People's Daily (603000) had a net inflow of 19.66 million yuan from institutional investors, while retail investors had a net outflow of 10.59 million yuan [3] - Xinhua Net (603888) experienced a net inflow of 16.98 million yuan from institutional investors, with a net outflow of 4.36 million yuan from retail investors [3] - Chuanwang Media (300987) had a net outflow of 18.30 million yuan from institutional investors, while retail investors had a net inflow of 9.26 million yuan [3]