格隆汇9月29日丨航天信息(600271.SH)在投资者互动平台表示，公司始终关注国防军工领域的发展机 遇，将重点聚焦军工企业在信息化与智能化升级中的核心需求，在数据安全、人工智能方面积极发挥方 案规划和交付能力优势，积极拓展业务。公司与华为相关单位在相关软硬件采购、技术培训等方面存在 业务合作。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 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26日（星期五）10:00-11:00 ● 会议召开地点：价值在线（www.ir-online.cn） ● 会议召开方式：网络互动方式 ● 会议参与方式：投资者可于2025年9月24日前访问网址：https://eseb.cn/1rsh393PQXK或使用微信扫描 下方小程序码进行会前提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的 问题进行回答。 ■ 一、业绩说明会类型 航天信息股份有限公司（以下简称"公司"）已于2025年8月28日在上海证券交易所网站 （www.sse.com.cn）及指定披露媒体披露了《航天信息股份有限公司2025年半年度报告》及《航天信息 股份有限公司2025年半年度报告摘要》。为便于广大投资者更加全面深入地了解公司经营业绩、发展战 略等情况，公司定于2025年9月26日（星期五）10:00-11:00在"价值在线"（www.ir-on ...

证券代码：600271 证券简称：航天信息 编号：2025-042 航天信息股份有限公司 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 26 日（星期五）10:00-11:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 三、参加人员 董事长：张镝 1 会议召开时间：2025 年 9 月 26 日（星期五）10:00-11:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 会 议 参 与 方 式 ： 投 资 者 可 于 2025 年 9 月 24 日 前 访 问 网 址 ： https://eseb.cn/1rsh393PQXK 或使用微信扫描下方小程序码进行会前提问，公司将 通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进行回答。 董事、总经理：陈荣兴 副总经理、董事会秘书：马振洲 财务总监、总法律顾问：高宇明 独立董事：韩 ...

证券代码：600271 证券简称：航天信息 编号：2025-042 航天信息股份有限公司 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： 一、业绩说明会类型 航天信息股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日在上海证券交易所网 站（www.sse.com.cn）及指定披露媒体披露了《航天信息股份有限公司 2025 年半年度报告》 及《航天信息股份有限公司 2025 年半年度报告摘要》。为便于广大投资者更加全面深入地 了解公司经营业绩、发展战略等情况，公司定于 2025 年 9 月 26 日（星期五）10:00-11:00 在"价值在线"（www.ir-online.cn）举办航天信息股份有限公司 2025 年半年度业绩说明会， 与投资者进行沟通和交流，广泛听取投资者的意见和建议。 二、业绩说明会召开的时间、地点 会议召开时间：2025 年 9 月 26 日（星期五）10:00-11:00 会议召开地点：价值在线（www.ir-online. ...

航天信息股份有限公司 证券代码：600271 证券简称：航天信息 编号：2025-040 第九届董事会第二次会议决议公告 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。 一、董事会会议召开情况 航天信息股份有限公司（以下简称"公司"）第九届董事会第二次会议于 2025 年 8 月 26 日以现场加通讯方式召开。会议通知和材料已于 2025 年 8 月 15 日通过电子邮件的方式 送达各位董事。本次会议由公司董事长张镝先生主持召开，本次会议应出席董事 9 人，实际 出席董事 9 人，公司相关高级管理人员列席了会议。会议召开符合有关法律、法规、规章和 《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 1、关于公司《经理层成员 2025-2027 任期岗位聘任协议书》的议案 同意公司经理层成员《2025-2027 任期岗位聘任协议书》，授权公司董事长代表董事会 与经理层各成员签订相关契约文本。 表决结果：9 票同意，0 票反对，0 票弃权。 2、关于公司《2025 年半年度董事会授权行使情况报告》 ...

证券代码：600271 证券简称：航天信息 编号：2025-040 航天信息股份有限公司 第九届董事会第二次会议决议公告 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。 一、董事会会议召开情况 航天信息股份有限公司（以下简称"公司"）第九届董事会第二次会议于 2025 年 8 月 26 日以现场加通讯方式召开。会议通知和材料已于 2025 年 8 月 15 日通过电子邮件的方式 送达各位董事。本次会议由公司董事长张镝先生主持召开，本次会议应出席董事 9 人，实际 出席董事 9 人，公司相关高级管理人员列席了会议。会议召开符合有关法律、法规、规章和 《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 1、关于公司《经理层成员 2025-2027 任期岗位聘任协议书》的议案 同意公司经理层成员《2025-2027 任期岗位聘任协议书》，授权公司董事长代表董事会 与经理层各成员签订相关契约文本。 表决结果：9 票同意，0 票反对，0 票弃权。 2、关于公司《2025 年半年度董事会授权行使情况报告》 ...

Part I [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter defines common terms, company names, related parties, and reporting periods for clear understanding - The reporting period refers to **January 1, 2025, to June 30, 2025**[12](index=12&type=chunk) Part II Company Profile and Key Financial Indicators [Company Information](index=5&type=section&id=I.%20Company%20Information) Discloses the company's Chinese name, abbreviation, foreign name, and legal representative information - The company's Chinese name is Aerospace Information Co., Ltd., and its legal representative is **Chen Rongxing**[14](index=14&type=chunk) [Contact Person and Information](index=5&type=section&id=II.%20Contact%20Person%20and%20Information) Provides names, addresses, phone numbers, faxes, and email addresses for the company's board secretary and securities affairs representative - The Board Secretary is **Ma Zhenzhou**, and the Securities Affairs Representative is **Wang Xiaowei**, both located at Aerospace Information Park, No. 18 Jia, Xishikou Road, Haidian District, Beijing[15](index=15&type=chunk) [Introduction to Changes in Basic Information](index=5&type=section&id=III.%20Introduction%20to%20Changes%20in%20Basic%20Information) Introduces the company's registered address, office address, website, and email, noting no changes during the reporting period - The company's registered and office address is Aerospace Information Park, No. 18 Jia, Xishikou Road, Haidian District, Beijing, with **no changes during the reporting period**[16](index=16&type=chunk) [Introduction to Changes in Information Disclosure and Document Storage Locations](index=5&type=section&id=IV.%20Introduction%20to%20Changes%20in%20Information%20Disclosure%20and%20Document%20Storage%20Locations) Specifies the company's designated newspapers for information disclosure, website for semi-annual reports, and document storage locations, with no changes during the reporting period - The company's information disclosure newspapers are "China Securities Journal," "Shanghai Securities News," and "Securities Daily," with the designated website being **http://www.sse.com.cn**[17](index=17&type=chunk) [Company Stock Overview](index=5&type=section&id=V.%20Company%20Stock%20Overview) Provides information on the company's stock type, listing exchange, stock abbreviation, and code - The company's stock is **A-shares**, listed on the Shanghai Stock Exchange, with stock abbreviation Aerospace Information and code **600271**[18](index=18&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=5&type=section&id=VII.%20Company's%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Summarizes key accounting data and financial indicators, highlighting revenue and net profit declines from digital tax changes and market competition Key Accounting Data (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Period (Jan-Jun) (10,000 RMB) | Prior Year Period (10,000 RMB) | Period-over-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 248,768.60 | 421,747.79 | -41.01 | | Total Profit | -39,166.35 | -4,641.84 | N/A | | Net Profit Attributable to Shareholders of Listed Company | -30,207.66 | -7,037.11 | N/A | | Net Cash Flow from Operating Activities | -106,901.06 | -121,126.89 | N/A | | Net Assets Attributable to Shareholders of Listed Company | 1,369,604.08 | 1,400,413.99 | -2.20 | | Total Assets | 2,030,536.54 | 2,136,365.95 | -4.95 | Key Financial Indicators (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Period-over-Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | -0.16 | -0.04 | -300.00 | | Diluted Earnings Per Share (RMB/share) | -0.16 | -0.04 | -300.00 | | Basic EPS Excluding Non-recurring Gains/Losses (RMB/share) | -0.18 | -0.05 | -260.00 | | Weighted Average Return on Net Assets (%) | -2.18 | -0.50 | Decreased by 1.68 percentage points | | Weighted Average Return on Net Assets Excluding Non-recurring Gains/Losses (%) | -2.35 | -0.68 | Decreased by 1.67 percentage points | - Operating revenue decreased by **41.01% year-on-year**, primarily due to profound adjustments in the digital tax business, intense industry competition, and increased market competition in smart and cybersecurity industries[22](index=22&type=chunk) - Net profit attributable to shareholders of the listed company and basic earnings per share decreased year-on-year, mainly because the company's business expansion did not meet expectations under current internal and external environmental influences[23](index=23&type=chunk) [Non-recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Details the composition and amounts of non-recurring gains and losses for the reporting period, totaling **22,981,971.75 RMB** Non-recurring Gains and Losses Items and Amounts (Unit: RMB) | Non-recurring Gains and Losses Item | Amount | Notes (if applicable) | | :--- | :--- | :--- | | Gains or losses from disposal of non-current assets, including the write-off portion of asset impairment provisions | 178,304.33 | | | Government grants recognized in current profit or loss, except for those closely related to the company's normal operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit or loss | 17,257,114.97 | | | Gains or losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains or losses from disposal of financial assets and liabilities, except for effective hedging activities related to normal business operations | 19,621,245.80 | Primarily fair value changes and gains from partial disposal of the company's holdings in CNPC Capital shares and industrial funds | | Other non-operating income and expenses apart from the above | -4,538,639.27 | | | Less: Income tax impact | 6,126,459.98 | | | Impact on minority interests (after tax) | 3,409,594.10 | | | Total | 22,981,971.75 | | Part III Management Discussion and Analysis [Description of the Company's Industry and Main Business During the Reporting Period](index=9&type=section&id=I.%20Description%20of%20the%20Company's%20Industry%20and%20Main%20Business%20During%20the%20Reporting%20Period) The company's industry was impacted by national digital tax reforms, the Golden Tax IV project, and data security regulations, leading to strategic adjustments in digital government, enterprise digitalization, and internationalization - The state continues to promote digital tax reform, making it a core task of the new round of fiscal and tax system reform, clarifying the direction of "governance by data"[30](index=30&type=chunk) - The "Notice on Promoting the Application of Electronic Voucher Accounting Data Standards" was issued, driving standardized development of the digital tax industry[30](index=30&type=chunk) - The Golden Tax IV project is fully implemented, using electronic invoices as a breakthrough to achieve full-process digital and penetrating supervision of taxation[30](index=30&type=chunk) [(I) Digital Government Sector](index=9&type=section&id=(I)%20Digital%20Government%20Sector) The company actively responded to policies in the digital government sector, supporting Golden Tax IV construction, undertaking provincial trusted operation and security management platform tasks, and expanding key immigration projects and grain sector collaborations - Signed contracts for **19 provincial trusted operation and 15 provincial security management platform operation tasks**, assisting in the construction of "Golden Tax IV"[31](index=31&type=chunk) - Undertook new key projects for the National Immigration Administration, serving the construction of the national entry-exit border inspection system[31](index=31&type=chunk) - Signed a cooperation agreement with Liaoning Provincial Grain Development Group to jointly build "one sub-center and two experimental bases," implementing the strategy of "storing grain in land and technology"[31](index=31&type=chunk) [(II) Enterprise Digitalization Sector](index=9&type=section&id=(II)%20Enterprise%20Digitalization%20Sector) The company seized the opportunity of electronic voucher reform, rapidly capturing the group enterprise market, winning new bids for financial and tax informatization projects with leading companies like China Mobile, CRRC, and Agricultural Bank, achieving a **55.12% market share in Leqi by June 30, 2025** - Won new bids for financial and tax informatization construction tasks with industry-leading enterprises such as **China Mobile, CRRC, and Agricultural Bank**[32](index=32&type=chunk) - As of June 30, 2025, the **Leqi market share reached 55.12%**[32](index=32&type=chunk) - Optimized multi-scenario solutions for electronic invoices and strengthened the promotion of basic products on the Aixinno·Nuoqifu platform[32](index=32&type=chunk) [(III) Internationalization Sector](index=9&type=section&id=(III)%20Internationalization%20Sector) Based in the Guangdong-Hong Kong-Macao Greater Bay Area, the company actively serves digital government construction in Hong Kong and Macao, expanding its business from customs inspection to transportation and enterprise registration services, and signing a blockchain document management platform project contract for shipping trade - Business has expanded from customs inspection to transportation and enterprise registration services, with all projects successfully executed and collected as planned[32](index=32&type=chunk) - Signed a contract for the shipping trade blockchain document management platform project, with the cultivated "Cloud Chain Trade and Transport" product gaining market recognition[32](index=32&type=chunk) [Discussion and Analysis of Operations](index=9&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company diligently advanced various operational tasks, guided by the principles of "recognizing reality, understanding problems, having an open mind, and starting from scratch," leading to a gradual improvement in its operational posture - The company diligently advanced various operational tasks, guided by the principles of "recognizing reality, understanding problems, having an open mind, and starting from scratch," strengthening its fighting spirit and firming its confidence and determination[32](index=32&type=chunk) - The operational posture is gradually improving[32](index=32&type=chunk) [(I) Deepening Reform and Adjustment](index=9&type=section&id=(I)%20Deepening%20Reform%20and%20Adjustment) The company formulated an institutional reform and adjustment plan, promoting the corporatization of headquarters' operations, reducing management layers, and advancing "one enterprise, one policy" reforms, including equity financing, property transfers, and exits - Formulated the company's institutional reform and adjustment plan, promoting the corporatization of headquarters' operations, reducing management layers, and integrating resources[33](index=33&type=chunk) - Following the overall principle of "three batches," "one enterprise, one policy" reforms are being advanced for each entity, with equity financing, property transfers, and exits progressing as planned[33](index=33&type=chunk) [(II) Reshaping R&D Architecture](index=9&type=section&id=(II)%20Reshaping%20R%26D%20Architecture) The company re-evaluated its R&D investment plan, focusing on core technologies and key products, developing four core financial and tax products, and concentrating resources on product iteration R&D - Re-evaluated the annual R&D investment project plan to avoid redundant and inefficient investments and improve the input-output ratio[34](index=34&type=chunk) - Further focused on technology products and business systems, primarily adopting a model of government-side support and enterprise-side profitability[34](index=34&type=chunk) - Focusing on financial and tax business, developing **four core financial and tax products** for three major customer groups: group enterprises, large and medium-sized enterprises, and small and micro enterprises, with product iteration R&D currently underway[35](index=35&type=chunk) [(III) Activating Marketing System](index=10&type=section&id=(III)%20Activating%20Marketing%20System) The company built a demand-supply dual-core driven marketing strategy management system, enhancing marketing team collaboration efficiency, shaping a professional brand image, and developing digital marketing empowerment tools - Built a demand-supply dual-core driven marketing strategy management system to achieve efficient unity of demand insight and value delivery[36](index=36&type=chunk) - Established a highly collaborative marketing team to comprehensively build a professional and influential brand image[36](index=36&type=chunk) - Developed digital marketing empowerment tools to create a "unified, efficient, and responsive" marketing empowerment resource matrix[36](index=36&type=chunk) [(IV) Strict Cost Control](index=10&type=section&id=(IV)%20Strict%20Cost%20Control) The company strengthened its business foundation, strictly controlled various expenditures, optimized personnel structure, and utilized informatization to enhance penetrating management capabilities and strengthen cost control - Strictly controlled various expenditures, improved refined management capabilities, and reduced costs and increased efficiency[37](index=37&type=chunk) - Formulated guidelines for optimizing and adjusting personnel structure, with each unit developing detailed work plans for specific positions, further optimizing the overall personnel structure[37](index=37&type=chunk) - Actively utilized informatization to enhance penetrating management capabilities and strengthen cost control[37](index=37&type=chunk) [(V) Strengthening Risk Control](index=10&type=section&id=(V)%20Strengthening%20Risk%20Control) The company significantly improved centralized control, integrating all levels of entities into the financial shared service center for centralized accounting, enhancing approval levels for key entity expenditures, and issuing project management and risk prevention requirements to promote a shift towards high-quality business structure - Systematically integrated all levels of entities into the financial shared service center for centralized accounting, enhancing information transparency and control[38](index=38&type=chunk) - Elevated approval levels for relevant expenditures of key entities to the headquarters level, strengthening penetrating supervision[38](index=38&type=chunk) - Issued "Aerospace Information Project Management and Risk Prevention Work Requirements (V1.0)," detailing project control mechanisms and measures, while strictly reviewing supplier access and changes, further shifting the business structure towards high quality[38](index=38&type=chunk) [Analysis of Core Competitiveness During the Reporting Period](index=10&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness%20During%20the%20Reporting%20Period) As a state-owned technology-based listed company, the company's core competitiveness lies in its clear strategic positioning, comprehensive technical product system, "Sci-Tech Reform Enterprise" policy support, world-class professional leading enterprise strength, complete national and industry top qualifications, nationwide marketing service system, central enterprise background and Aerospace brand endorsement, and a high-caliber workforce - The company possesses a clear strategic positioning, defined development goals, and a comprehensive technical and product system[39](index=39&type=chunk) - Enjoys special reform policies as a "Sci-Tech Reform Enterprise" and has the comprehensive strength to build a world-class professional leading enterprise[39](index=39&type=chunk) - Holds complete top national and industry qualifications, a nationwide marketing and after-sales service system, abundant resources and credit endorsement from its central enterprise background and Aerospace brand, and a capable and results-oriented workforce[39](index=39&type=chunk) [Major Operating Conditions During the Reporting Period](index=10&type=section&id=IV.%20Major%20Operating%20Conditions%20During%20the%20Reporting%20Period) This section analyzes the company's major operating conditions, including changes in financial statement items, significant shifts in business types and profit composition, asset and liability status, investment, and major asset and equity sales, along with an analysis of key subsidiaries and associates [(I) Main Business Analysis](index=10&type=section&id=(I)%20Main%20Business%20Analysis) The company's main business revenue significantly decreased by **41.01% year-on-year**, primarily due to digital tax business adjustments and intensified market competition, with corresponding reductions in operating costs, selling expenses, administrative expenses, and R&D expenses Financial Statement Related Item Fluctuation Analysis (Unit: 10,000 RMB) | Item | Current Period Amount | Prior Year Period Amount | Change Ratio (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 248,768.60 | 421,747.79 | -41.01 | | Operating Cost | 188,805.75 | 305,326.35 | -38.16 | | Selling Expenses | 25,468.26 | 37,000.27 | -31.17 | | Administrative Expenses | 45,634.83 | 48,199.68 | -5.32 | | Financial Expenses | -4,263.52 | -4,365.28 | N/A | | R&D Expenses | 34,318.29 | 39,883.66 | -13.95 | | Net Cash Flow from Operating Activities | -106,901.06 | -121,126.89 | N/A | | Net Cash Flow from Investing Activities | -12,908.54 | -17,517.36 | N/A | | Net Cash Flow from Financing Activities | -13,497.49 | -1,996.29 | N/A | | Other Income | 2,645.37 | 3,990.07 | -33.70 | | Gains from Fair Value Changes | 1,774.10 | 957.32 | 85.32 | | Credit Impairment Losses (Losses indicated by "-") | -837.03 | -4,407.32 | N/A | | Asset Impairment Losses (Losses indicated by "-") | -172.11 | -41.62 | -313.53 | | Gains from Asset Disposal | 94.29 | 11.69 | 706.59 | | Non-operating Income | 221.72 | 1,144.41 | -80.63 | | Income Tax Expense | 1,112.76 | 3,088.60 | -63.97 | - Operating revenue decreased by **41.01% year-on-year**, mainly due to the digital tax business being continuously affected by profound industrial adjustments and intense industry competition, leading to a significant decline in revenue; additionally, market competition intensified in smart and cybersecurity industries, resulting in a decrease in business scale[41](index=41&type=chunk) - Net cash flow from operating activities increased by **142 million RMB year-on-year**, primarily due to a decrease in cash paid to and for employees and other cash payments in the current period[42](index=42&type=chunk) - Gains from fair value changes increased by **85.32% year-on-year**, mainly due to an increase in fair value changes from the company's holdings in industrial funds and CNPC Capital shares in the current period[42](index=42&type=chunk) - The original anti-counterfeiting tax control business, a key profit driver, was significantly impacted by profound industrial adjustments and intense industry competition, leading to a substantial decline in performance[44](index=44&type=chunk) [(III) Analysis of Assets and Liabilities](index=12&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets and net assets attributable to shareholders of the listed company both decreased, with reduced monetary funds, increased inventories, significantly decreased long-term borrowings, and a notable increase in development expenditures; overseas assets accounted for **3.13% of total assets** Asset and Liability Status Changes (Unit: 10,000 RMB) | Item Name | Current Period End Amount | Current Period End Amount as % of Total Assets | Prior Year End Amount | Prior Year End Amount as % of Total Assets | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 597,344.10 | 29.42 | 725,955.61 | 33.98 | -17.72 | | Accounts Receivable | 265,983.67 | 13.10 | 266,929.25 | 12.49 | -0.35 | | Inventories | 157,880.03 | 7.78 | 147,512.61 | 6.90 | 7.03 | | Investment Properties | 17,104.58 | 0.84 | 17,212.02 | 0.81 | -0.62 | | Long-term Equity Investments | 66,040.88 | 3.25 | 66,626.66 | 3.12 | -0.88 | | Fixed Assets | 121,584.73 | 5.99 | 126,563.88 | 5.92 | -3.93 | | Right-of-use Assets | 14,112.02 | 0.69 | 14,766.93 | 0.69 | -4.43 | | Short-term Borrowings | 28,401.69 | 1.40 | 31,312.68 | 1.47 | -9.30 | | Contract Liabilities | 104,079.66 | 5.13 | 106,936.39 | 5.01 | -2.67 | | Long-term Borrowings | 1,980.00 | 0.10 | 6,323.27 | 0.30 | -68.69 | | Lease Liabilities | 8,844.21 | 0.44 | 8,761.99 | 0.41 | 0.94 | | Notes Receivable | 1,220.62 | 0.06 | 4,009.22 | 0.19 | -69.55 | | Development Expenditures | 42,756.37 | 2.11 | 26,546.61 | 1.24 | 61.06 | | Taxes Payable | 5,185.90 | 0.26 | 14,715.89 | 0.69 | -64.76 | | Deferred Income | 639.76 | 0.03 | 915.50 | 0.04 | -30.12 | - Monetary funds decreased by **17.72%**, mainly due to a decrease in net cash flow from operating activities in the current period[46](index=46&type=chunk) - Inventories increased by **7.03%**, mainly due to increased procurement and stocking by subsidiaries in the current period[46](index=46&type=chunk) - Long-term borrowings decreased by **68.69%**, mainly due to the repayment of matured long-term borrowings by Aerospace Information headquarters in the current period[46](index=46&type=chunk) - Development expenditures increased by **61.06%**, mainly due to capitalized R&D expenditures incurred in the current period that have not yet formed intangible assets[46](index=46&type=chunk) - Overseas assets amounted to **635.04 million RMB**, accounting for **3.13% of total assets**[47](index=47&type=chunk) - As of June 30, 2025, the company's restricted assets included restricted monetary funds such as deposits totaling **177 million RMB** and discounted/endorsed unexpired notes receivable of **2 million RMB**[48](index=48&type=chunk) [(IV) Investment Status Analysis](index=13&type=section&id=(IV)%20Investment%20Status%20Analysis) The company's financial assets measured at fair value totaled **914.95 million RMB** at period-end, with fair value changes of **17.74 million RMB** for the current period; post-reporting period, the company sold **48,720,010 shares of CNPC Capital**, totaling **431 million RMB**, and no longer holds CNPC Capital shares Financial Assets Measured at Fair Value (Unit: RMB) | Asset Category | Beginning Balance | Fair Value Change Gains/Losses for Current Period | Cumulative Fair Value Changes Included in Equity | Current Period Purchase Amount | Current Period Sale/Redemption Amount | Other Changes | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Stocks | 335,680,868.90 | 19,358,277.10 | 10,367,383.00 | 0.00 | 0.00 | 0.00 | 344,671,763.00 | | Other | 174,278,765.30 | -1,617,280.02 | 0.00 | 0.00 | 1,485,148.50 | 0.00 | 171,176,336.78 | | Other | 394,235,145.91 | 4,865,834.91 | 0.00 | 0.00 | 0.00 | 0.00 | 399,100,980.82 | | Total | 904,194,780.11 | 17,740,997.08 | 4,865,834.91 | 0.00 | 11,852,531.50 | 0.00 | 914,949,080.60 | - As of July 10, 2025, the company cumulatively sold **48,720,010 shares of CNPC Capital** through the centralized bidding trading system, with a cumulative transaction amount of **431,369,820.93 RMB**, and no longer holds CNPC Capital shares after the sale[50](index=50&type=chunk) [(V) Major Asset and Equity Sales](index=14&type=section&id=(V)%20Major%20Asset%20and%20Equity%20Sales) The company's board of directors approved the public listing and sale of idle properties, involving two properties in Haidian District, Beijing, with related procedures progressing as planned - The company resolved to publicly list and sell two idle properties located at 15D, Unit 5, Building 5, Chunyin Garden, Haidian District, Beijing, and No. 304, Building 901 Ding, Zhongguancun[50](index=50&type=chunk) - The listing price will not be lower than the appraised value, and as of the reporting date, the company is proceeding with the public listing procedures at the property exchange as planned[50](index=50&type=chunk) [(VI) Analysis of Major Holding and Participating Companies](index=14&type=section&id=(VI)%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) During the reporting period, the company's major subsidiaries and associates with a significant impact on net profit (over 10%) primarily operated in regional marketing, product operation and maintenance, financial POS terminals, electronic payments, and information system integration, with some subsidiaries incurring losses Major Subsidiaries and Associates with Over 10% Impact on Company's Net Profit (Unit: 10,000 RMB) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Aerospace Information Technology Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 3,200.00 | 33,586.49 | 30,654.04 | 6,154.75 | -481.81 | -696.17 | | Beijing Aerospace Golden Tax Technology Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 1,500.00 | 29,909.92 | 28,250.95 | 5,819.65 | 270.97 | 42.94 | | Beijing Jiewen Technology Co., Ltd. | Subsidiary | Financial POS terminals and electronic payment | 5,400.00 | 40,955.28 | 31,155.74 | 22,969.30 | -2,939.41 | -3,086.30 | | Aerospace Network Security Technology (Shenzhen) Co., Ltd. | Subsidiary | Information system integration and related software/hardware products | 3,000.00 | 29,822.95 | 23,713.34 | 767.94 | -3,111.55 | -3,055.76 | | Aerospace Information (Guangdong) Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 5,000.00 | 35,531.71 | 27,629.28 | 6,506.96 | 587.65 | 603.80 | | Aerospace Information Jiangsu Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 11,000.00 | 70,272.84 | 35,437.03 | 8,484.70 | -3,108.26 | -3,206.64 | | Aisino Deli Information System (Shanghai) Co., Ltd. | Subsidiary | Smart retail, smart terminals, and comprehensive solutions/software/hardware products | 14.69 million USD | 74,436.23 | 70,364.11 | 7,921.55 | -1,618.07 | -1,611.33 | | Hebei Aerospace Information Technology Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 8,000.00 | 59,327.56 | 45,194.03 | 14,895.37 | 1,204.14 | 1,208.71 | | Hubei Aerospace Information Technology Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 3,350.00 | 26,015.59 | 16,375.62 | 5,976.49 | -383.58 | -399.71 | | Huadi Computer Group Co., Ltd. | Subsidiary | Information system integration and related software/hardware products | 11,024.00 | 182,010.89 | 7,334.01 | 21,279.28 | 1,883.92 | 1,490.68 | | Liaoning Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 1,000.00 | 7,083.96 | 4,917.17 | 2,012.58 | -393.93 | -382.62 | | Aerospace Information (Shandong) Technology Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 3,500.00 | 39,459.16 | 26,572.94 | 5,719.08 | -4,781.94 | -4,641.92 | | Shaanxi Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 2,000.00 | 13,419.35 | 9,112.59 | 1,853.38 | 43.74 | 30.48 | | Shanghai Aisino Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 3,000.00 | 14,585.28 | 13,398.01 | 5,773.14 | 525.07 | 467.35 | | Shenzhen Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 2,000.00 | 23,410.06 | 17,633.63 | 6,712.02 | 4.85 | 2.80 | | Sichuan Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 5,000.00 | 21,401.81 | 14,019.10 | 8,128.94 | 338.53 | 283.12 | | Xinjiang Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 2,000.00 | 24,809.27 | 14,573.15 | 6,313.40 | -0.87 | -23.57 | | Zhejiang Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 5,000.00 | 40,178.38 | 33,659.85 | 11,425.11 | 56.63 | -92.41 | | Ningbo Aisino Aerospace Information Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 1,298.00 | 13,344.33 | 11,165.57 | 6,296.31 | 8.07 | 5.16 | | Fujian Aerospace Information Technology Co., Ltd. | Subsidiary | Regional marketing and product operation and maintenance | 1,124.50 | 14,349.70 | 8,826.65 | 8,174.36 | 210.07 | 269.94 | | Jiangsu Aisino Information Technology Co., Ltd. | Subsidiary | Smart park | 3,300.00 | 16,955.60 | 16,326.22 | 788.76 | 193.14 | 144.50 | [Other Disclosure Matters](index=15&type=section&id=V.%20Other%20Disclosure%20Matters) This section discloses potential risks related to operating efficiency, market competition, product R&D, reform and business transformation, and human resource management, along with corresponding countermeasures [(I) Potential Risks](index=15&type=section&id=(I)%20Potential%20Risks) The company faces operating efficiency and market competition risks due to the restructuring of the digital tax market and intensified competition in smart and information technology sectors; product R&D efficiency, adaptability to reform, and talent structure/retention are also significant risk areas - Operating efficiency risk: The digital tax market structure is accelerating its restructuring, and the incremental growth from new technologies, products, and businesses is insufficient to offset the decline in traditional businesses[53](index=53&type=chunk) - Market competition risk: The traditional financial and tax market faces changes in market demand and the impact of emerging technologies on traditional models, making it difficult to expand market share or even risking erosion; competition in smart and information technology sectors is intensifying[54](index=54&type=chunk) - Product R&D risk: The company's core product R&D and input-output efficiency cannot fully meet industry development and market needs[55](index=55&type=chunk) - Reform and business transformation risk: The traditional anti-counterfeiting tax control industry has been completely disrupted, and the company's organizational structure and regional layout built around the tax control industry can no longer effectively adapt to industry development trends[55](index=55&type=chunk) - Human resource management risk: The company's existing talent structure is not adapted to the current changes in its operating situation, and core talent faces retention risks[56](index=56&type=chunk) Part IV Corporate Governance, Environment and Society [Changes in Company Directors, Supervisors, and Senior Management](index=17&type=section&id=I.%20Changes%20in%20Company%20Directors,%20Supervisors,%20and%20Senior%20Management) During the reporting period, Ms. Ma Tianhui resigned as Chairman, replaced by Mr. Zhang Die, and Mr. Zhou Zhenhao resigned as Deputy General Manager due to work reassignment; the company also abolished the board of supervisors and completed the re-election of the board of directors - Ms. Ma Tianhui resigned from her positions as director and chairman due to work reasons, and Mr. Zhang Die was elected as a director and appointed chairman[59](index=59&type=chunk) - Mr. Zhou Zhenhao resigned from his position as deputy general manager due to work reassignment[60](index=60&type=chunk) - The company convened its second extraordinary general meeting in 2025, which approved the abolition of the board of supervisors, the revision of the "Articles of Association of Aerospace Information Co., Ltd.," and the election of members for the ninth board of directors; on the same day, the first meeting of the ninth board of directors was held to complete the re-election of the board and appointment of senior management[60](index=60&type=chunk) [Profit Distribution or Capital Reserve Conversion Plan](index=17&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company's proposed semi-annual profit distribution or capital reserve conversion plan is "none," meaning no distribution or conversion will be made - The company's proposed semi-annual profit distribution plan or capital reserve conversion plan is **none**[61](index=61&type=chunk) [Specifics of Consolidating Poverty Alleviation Achievements, Rural Revitalization, and Other Work](index=18&type=section&id=V.%20Specifics%20of%20Consolidating%20Poverty%20Alleviation%20Achievements,%20Rural%20Revitalization,%20and%20Other%20Work) The company actively responded to the national rural revitalization strategy, allocating **2.1 million RMB** in assistance funds to Dongchuan District, Kunming City, Yunnan Province, and cumulatively purchasing and selling agricultural products worth **49,000 RMB**, continuously fulfilling its corporate social responsibility - The company's eighth board of directors' thirty-third meeting approved the "Proposal on Allocating 2025 Assistance Funds to Dongchuan District, Kunming City, Yunnan Province," agreeing to donate **2.1 million RMB** in assistance funds to Dongchuan District, Kunming City, Yunnan Province[62](index=62&type=chunk) - In the first half of 2025, a cumulative **49,000 RMB** worth of agricultural products were purchased and sold, all from Fuyuan County, a designated poverty alleviation area[62](index=62&type=chunk) Part V Significant Matters [Major Litigation and Arbitration Matters](index=19&type=section&id=VII.%20Major%20Litigation%20and%20Arbitration%20Matters) During the reporting period, the company had no major litigation or arbitration matters - The company had **no major litigation or arbitration matters** during this reporting period[64](index=64&type=chunk) [Major Related Party Transactions](index=19&type=section&id=X.%20Major%20Related%20Party%20Transactions) During the reporting period, the company engaged in related party transactions related to its daily operations, including a financial service agreement with Aerospace Science and Industry Finance Co., Ltd., and deposit, loan, and credit businesses with related parties [(I) Related Party Transactions Related to Daily Operations](index=19&type=section&id=(I)%20Related%20Party%20Transactions%20Related%20to%20Daily%20Operations) The company signed a financial service agreement with Aerospace Science and Industry Finance Co., Ltd. and projected its 2025 annual related party transactions - The company's eighth board of directors' thirtieth meeting approved the "Proposal on Signing a Financial Service Agreement with Aerospace Science and Industry Finance Co., Ltd."[64](index=64&type=chunk) - The company's 2024 annual general meeting approved the "Proposal on the Company's 2025 Annual Related Party Transaction Forecast"[65](index=65&type=chunk) [(V) Financial Business Between the Company and Related Financial Companies, and Between the Company's Controlled Financial Companies and Related Parties](index=21&type=section&id=(V)%20Financial%20Business%20Between%20the%20Company%20and%20Related%20Financial%20Companies,%20and%20Between%20the%20Company's%20Controlled%20Financial%20Companies%20and%20Related%20Parties) The company conducted deposit, loan, and credit businesses with Aerospace Science and Industry Finance Co., Ltd., with an ending deposit balance of **5.218 billion RMB**, a loan balance of **36.28 million RMB**, and a total comprehensive credit line of **3 billion RMB** Deposit Business with Aerospace Science and Industry Finance Co., Ltd. (Unit: RMB) | Related Party | Related Relationship | Maximum Daily Deposit Limit | Deposit Interest Rate Range | Beginning Balance | Total Deposits in Current Period | Total Withdrawals in Current Period | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Aerospace Science and Industry Finance Co., Ltd. | Subsidiary controlled by parent company | — | 0.55%-2.75% | 5,481,153,991.97 | 24,229,541,756.85 | 24,492,624,450.49 | 5,218,071,298.33 | Loan Business with Aerospace Science and Industry Finance Co., Ltd. (Unit: RMB) | Related Party | Related Relationship | Loan Limit | Loan Interest Rate Range | Beginning Balance | Total Loans in Current Period | Total Repayments in Current Period | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Aerospace Science and Industry Finance Co., Ltd. | Subsidiary controlled by parent company | 1,000,000,000.00 | 1.8%-4.1% | 88,280,000.00 | 0.00 | 52,000,000.00 | 36,280,000.00 | Credit Business with Aerospace Science and Industry Finance Co., Ltd. (Unit: RMB) | Related Party | Related Relationship | Business Type | Total Amount | Actual Amount Incurred | | :--- | :--- | :--- | :--- | :--- | | Aerospace Science and Industry Finance Co., Ltd. | Subsidiary controlled by parent company | Comprehensive Credit | 3,000,000,000.00 | 0.00 | [(VII) Other Related Party Transactions](index=22&type=section&id=(VII)%20Other) The company provided property leasing services to joint ventures and China Aerospace Science and Industry Corporation and its affiliated units, recognizing a total lease income of **8,739,505.61 RMB** in the current period Related Party Property Lease Income (Unit: RMB) | Lessee Name | Type of Leased Asset | Lease Income Recognized in Current Period | Lease Income Recognized in Prior Period | | :--- | :--- | :--- | :--- | | Joint ventures of the company | Property lease | 1,310,119.70 | 8,504,427.36 | | China Aerospace Science and Industry Corporation Limited and its affiliated units | Property lease | 7,429,385.91 | 7,744,268.45 | [Explanation of Progress in the Use of Raised Funds](index=22&type=section&id=XII.%20Explanation%20of%20Progress%20in%20the%20Use%20of%20Raised%20Funds) All investment projects funded by the company's publicly issued convertible corporate bonds have been completed, and the remaining **28,755.28 RMB** in raised funds has been permanently used to supplement working capital, with the special account closed - All investment projects funded by the company's publicly issued convertible corporate bonds have been completed[77](index=77&type=chunk) - As of December 31, 2024, the remaining raised funds, totaling **28,755.28 RMB** (including interest income), have been permanently used to supplement working capital, and the special fund account has been closed[77](index=77&type=chunk) [Explanation of Other Significant Matters](index=22&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) The company's board of directors approved the proposal to conduct non-recourse accounts receivable factoring business in 2025, with a cumulative factoring limit not exceeding **1 billion RMB** - On April 15, 2025, the company's eighth board of directors' thirtieth meeting approved the "Proposal on the Company's 2025 Accounts Receivable Factoring Business," agreeing that the company and its subsidiaries may conduct non-recourse accounts receivable factoring business with qualified domestic commercial banks and financial institutions in 2025, with a cumulative factoring limit not exceeding **1 billion RMB**, based on actual operational needs[78](index=78&type=chunk) Part VI Share Changes and Shareholder Information [Share Capital Changes](index=23&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, there were **no changes** in the company's total share capital or share structure[80](index=80&type=chunk) [Shareholder Information](index=23&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the company had **82,126 common shareholders**, with China Aerospace Science and Industry Corporation Limited remaining the largest shareholder, holding **40.02%** of the shares - As of the end of the reporting period, the total number of common shareholders was **82,126**[81](index=81&type=chunk) Top Ten Shareholders' Shareholdings (As of the end of the reporting period) | Shareholder Name | Change During Reporting Period | Number of Shares Held at Period End (shares) | Percentage (%) | Number of Restricted Shares Held | Share Status | Pledged, Marked, or Frozen Quantity | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | China Aerospace Science and Industry Corporation Limited | 0 | 741,448,172 | 40.02 | 0 | Unrestricted | 0 | State-owned Legal Person | | China Aerospace Science and Industry Flight Technology Research Institute (China Aerospace Haiying Electromechanical Technology Research Institute) | 0 | 61,816,878 | 3.34 | 0 | Unrestricted | 0 | State-owned Legal Person | | Beijing Aerospace Aiwei Electronic Technology Co., Ltd. | 0 | 51,495,024 | 2.78 | 0 | Unrestricted | 0 | State-owned Legal Person | | Hong Kong Securities Clearing Company Limited | -1,231,186 | 22,881,783 | 1.23 | 0 | Unrestricted | 0 | Other | | Beijing Electromechanical Engineering General Design Department | 0 | 16,516,320 | 0.89 | 0 | Unrestricted | 0 | State-owned Legal Person | | Agricultural Bank of China Co., Ltd. - CSI 500 ETF | 903,400 | 16,459,222 | 0.89 | 0 | Unrestricted | 0 | Other | | China Great Wall Industry Group Co., Ltd. | 0 | 14,817,400 | 0.80 | 0 | Unrestricted | 0 | State-owned Legal Person | | Harvest Fund - Agricultural Bank - Harvest CSI Financial Asset Management Plan | 0 | 14,247,166 | 0.77 | 0 | Unrestricted | 0 | Other | | Yinhua Fund - Agricultural Bank - Yinhua CSI Financial Asset Management Plan | 0 | 13,989,706 | 0.76 | 0 | Unrestricted | 0 | Other | | Southern Fund - Agricultural Bank - Southern CSI Financial Asset Management Plan | 0 | 13,747,566 | 0.74 | 0 | Unrestricted | 0 | Other | Part VII Bond-Related Information [Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=26&type=section&id=I.%20Corporate%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - During the reporting period, the company had **no corporate bonds** (including enterprise bonds) or non-financial enterprise debt financing instruments[87](index=87&type=chunk) [Convertible Corporate Bonds](index=26&type=section&id=II.%20Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds - During the reporting period, the company had **no convertible corporate bonds**[87](index=87&type=chunk) Part VIII Financial Report [Financial Statements](index=27&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively reflecting its financial position, operating results, and cash flow [Consolidated Balance Sheet](index=27&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, the company's total consolidated assets were **20.305 billion RMB**, a **4.95% decrease** from the end of the previous year; total liabilities were **3.690 billion RMB**, a **13.46% decrease**; and total owners' equity attributable to the parent company was **13.696 billion RMB**, a **2.20% decrease** Consolidated Balance Sheet Key Data (Unit: RMB) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | 20,305,365,406.10 | 21,363,659,525.72 | | Total Liabilities | 3,689,756,545.75 | 4,263,375,471.58 | | Total Owners' Equity Attributable to Parent Company | 13,696,040,763.82 | 14,004,139,888.35 | | Minority Interests | 2,919,568,096.53 | 3,096,144,165.79 | | Total Owners' Equity | 16,615,608,860.35 | 17,100,284,054.14 | [Parent Company Balance Sheet](index=29&type=section&id=Parent%20Company%20Balance%20Sheet) As of June 30, 2025, the parent company's total assets were **12.126 billion RMB**, a **1.15% decrease** from the end of the previous year; total liabilities were **895.85 million RMB**, a **22.42% decrease**; and total owners' equity was **11.230 billion RMB**, a **1.06% increase** Parent Company Balance Sheet Key Data (Unit: RMB) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | 12,125,616,092.79 | 12,266,716,382.10 | | Total Liabilities | 895,853,390.26 | 1,154,801,665.39 | | Total Owners' Equity | 11,229,762,702.53 | 11,111,914,716.71 | [Consolidated Income Statement](index=31&type=section&id=Consolidated%20Income%20Statement) For Jan-Jun 2025, the company's consolidated total operating revenue was **2.488 billion RMB**, a **41.01% year-on-year decrease**; net profit was **-402.79 million RMB**, with losses widening year-on-year; and net profit attributable to parent company shareholders was **-302.08 million RMB** Consolidated Income Statement Key Data (Unit: RMB) | Item | Jan-Jun 2025 | Jan-Jun 2024 | | :--- | :--- | :--- | | Total Operating Revenue | 2,487,686,031.74 | 4,217,477,871.12 | | Total Operating Costs | 2,918,827,227.72 | 4,282,915,520.41 | | Operating Profit (Loss indicated by "－") | -386,360,262.01 | -49,064,036.81 | | Total Profit (Total loss indicated by "－") | -391,663,508.39 | -46,418,353.02 | | Net Profit (Net loss indicated by "－") | -402,791,122.95 | -77,304,356.30 | | Net Profit Attributable to Parent Company Shareholders (Net loss indicated by "-") | -302,076,589.31 | -70,371,091.92 | | Minority Interests (Net loss indicated by "-") | -100,714,533.64 | -6,933,264.38 | | Total Comprehensive Income | -401,402,118.53 | -80,237,166.86 | | Basic Earnings Per Share (RMB/share) | -0.16 | -0.04 | | Diluted Earnings Per Share (RMB/share) | -0.16 | -0.04 | [Parent Company Income Statement](index=33&type=section&id=Parent%20Company%20Income%20Statement) For Jan-Jun 2025, the parent company's operating revenue was **474.25 million RMB**, a **31.60% year-on-year decrease**; net profit was **121.12 million RMB**, turning losses into profits Parent Company Income Statement Key Data (Unit: RMB) | Item | Jan-Jun 2025 | Jan-Jun 2024 | | :--- | :--- | :--- | | Operating Revenue | 474,252,890.54 | 693,271,909.90 | | Operating Profit (Loss indicated by "－") | 123,477,111.80 | -30,268,755.30 | | Total Profit (Total loss indicated by "－") | 123,772,355.15 | -23,463,755.14 | | Net Profit (Net loss indicated by "－") | 121,123,565.79 | -21,897,392.13 | | Total Comprehensive Income | 125,259,525.46 | -26,010,367.59 | [Consolidated Cash Flow Statement](index=35&type=section&id=Consolidated%20Cash%20Flow%20Statement) For Jan-Jun 2025, the company's net cash flow from operating activities was **-1.069 billion RMB**, with net outflow decreasing year-on-year; net cash flow from investing activities was **-129.09 million RMB**, with net outflow decreasing; and net cash flow from financing activities was **-134.97 million RMB**, with net outflow increasing Consolidated Cash Flow Statement Key Data (Unit: RMB) | Item | Jan-Jun 2025 | Jan-Jun 2024 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1,069,010,578.99 | -1,211,268,850.75 | | Net Cash Flow from Investing Activities | -129,085,377.25 | -175,173,605.35 | | Net Cash Flow from Financing Activities | -134,974,869.60 | -19,962,908.39 | | Net Increase in Cash and Cash Equivalents | -1,333,699,114.36 | -1,405,939,251.09 | [Parent Company Cash Flow Statement](index=36&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) For Jan-Jun 2025, the parent company's net cash flow from operating activities was **-395.13 million RMB**, with net outflow increasing; net cash flow from investing activities was **232.69 million RMB**, with net inflow increasing; and net cash flow from financing activities was **-51.39 million RMB**, with net outflow decreasing Parent Company Cash Flow Statement Key Data (Unit: RMB) | Item | Jan-Jun 2025 | Jan-Jun 2024 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -395,128,792.21 | -161,438,625.61 | | Net Cash Flow from Investing Activities | 232,688,187.96 | 164,660,445.29 | | Net Cash Flow from Financing Activities | -51,386,128.84 | -62,867,193.05 | | Net Increase in Cash and Cash Equivalents | -213,826,733.09 | -59,645,373.37 | [Consolidated Statement of Changes in Owners' Equity](index=39&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Owners'%20Equity) As of June 30, 2025, the company's total consolidated owners' equity was **16.616 billion RMB**, a **485 million RMB decrease** from the beginning of the period, primarily due to net profit losses and profit distribution impacts Consolidated Owners' Equity Changes (Unit: RMB) | Item | June 30, 2025 | January 1, 2025 | | :--- | :--- | :--- | | Total Owners' Equity | 16,615,608,860.35 | 17,100,284,054.14 | | Total Owners' Equity Attributable to Parent Company | 13,696,040,763.82 | 14,004,139,888.35 | | Minority Interests | 2,919,568,096.53 | 3,096,144,165.79 | [Parent Company Statement of Changes in Owners' Equity](index=42&type=section&id=Parent%20Company%20Statement%20of%20Changes%20in%20Owners'%20Equity) As of June 30, 2025, the parent company's total owners' equity was **11.230 billion RMB**, an **118 million RMB increase** from the beginning of the period, primarily due to the growth in net profit for the current period Parent Company Owners' Equity Changes (Unit: RMB) | Item | June 30, 2025 | January 1, 2025 | | :--- | :--- | :--- | | Total Owners' Equity | 11,229,762,702.53 | 11,111,914,716.71 | | Retained Earnings | 7,512,584,943.11 | 7,398,872,916.96 | [Company Basic Information](index=46&type=section&id=III.%20Company%20Basic%20Information) Introduces Aerospace Information Co., Ltd.'s establishment, registration, listing, and industry, noting no changes in the scope of consolidated financial statements for the current period - Aerospace Information Co., Ltd. was registered with the Beijing Administration for Industry and Commerce on November 1, 2000, and listed on the Shanghai Stock Exchange on June 26, 2003[119](index=119&type=chunk) - The company's registered capital is **1.85288 billion RMB**, its legal representative is Chen Rongxing, and its headquarters are registered at No. 18 Jia, Xishikou Road, Haidian District, Beijing[119](index=119&type=chunk) - The company belongs to the software information industry, with main business activities in digital tax, smart business, and cybersecurity[120](index=120&type=chunk) - The company includes **52 second-tier subsidiaries** and their **16 third-tier subsidiaries**, such as Aerospace Network Security Technology (Shenzhen) Co., Ltd., in the scope of its consolidated financial statements for the current period, with no changes compared to the end of the previous year[120](index=120&type=chunk) [Basis of Financial Statement Preparation](index=46&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The financial statements are prepared on a going concern basis, with no significant doubts about the company's ability to continue as a going concern for the next 12 months from the end of the reporting period - The company's financial statements are prepared on a **going concern basis**[121](index=121&type=chunk) - There are no matters or circumstances that would cause significant doubt about the company's ability to continue as a going concern for the next 12 months from the end of the reporting period[122](index=122&type=chunk) [Significant Accounting Policies and Estimates](index=46&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates, including enterprise accounting standards, accounting period, operating cycle, functional currency, materiality, business combinations, consolidated financial statements, joint arrangements, cash and cash equivalents, foreign currency transactions, financial instruments, various receivables, inventories, contract assets, assets held for sale, long-term equity investments, investment properties, fixed assets, construction in progress, borrowing costs, intangible assets, impairment of long-term assets, long-term deferred expenses, contract liabilities, employee benefits, provisions, share-based payments, preferred shares/perpetual bonds, revenue, contract costs, government grants, deferred income tax, and leases - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, accurately and completely reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows[123](index=123&type=chunk) - The company's accounting year adopts the calendar year, from **January 1 to December 31** annually[124](index=124&type=chunk) - The company classifies financial assets into those measured at amortized cost, those measured at fair value with changes recognized in other comprehensive income, and those measured at fair value with changes recognized in profit or loss, based on the business model for managing financial assets and the contractual cash flow characteristics of the financial assets[145](index=145&type=chunk) - The company recognizes sales revenue and transfers sales costs when products are shipped to the customer's designated location as per contract, and the buyer signs for receipt, indicating the transfer of control over the goods from the company[217](index=217&type=chunk) - In applying accounting policies, the company needs to make judgments, estimates, and assumptions regarding the carrying amounts of financial statement items that cannot be measured accurately, with key areas including financial asset impairment, inventory write-downs, fair value of financial instruments, impairment provisions for long-term assets, depreciation and amortization, development expenditures, deferred income tax assets, income tax, and provisions[231](index=231&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk)[234](index=234&type=chunk)[235](index=235&type=chunk) [Taxes](index=71&type=section&id=VI.%20Taxes) This section discloses the company's main tax categories and rates, including VAT, property tax, urban maintenance and construction tax, education surcharge, local education surcharge, and corporate income tax, and details the tax incentives enjoyed by the company and its subsidiaries Main Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Taxable income calculated at 13%, 9%, 6%, 3%, 1% for output tax, and VAT paid on the difference after deducting allowable input tax for the current period | 13%, 9%, 6%, 3%, 1% | | Property Tax | For value-based assessment, 1.2% of the original value of the property after a one-time deduction of 30%; for rent-based assessment, 12% of rental income | 1.2%, 12% | | Urban Maintenance and Construction Tax | Calculated at 7%, 5% of the actual turnover tax paid | 7%, 5% | | Education Surcharge | Calculated at 3% of the actual turnover tax paid | 3% | | Local Education Surcharge | Calculated at 2% of the actual turnover tax paid | 2% | | Corporate Income Tax | Calculated at 25%, 20%, 16.5%, 15%, 12% of taxable income | 25%, 20%, 16.5%, 15%, 12% | - The company obtained its high-tech enterprise certificate on October 26, 2023, valid for 3 years, allowing the company's headquarters and some branches to pay corporate income tax at a reduced rate of **15% from 2023 to 2025**[239](index=239&type=chunk) - Several of the company's subsidiaries have obtained high-tech enterprise certificates, with an applicable corporate income tax rate of **15%** for the current year[240](index=240&type=chunk) - Shaanxi Aerospace Information Co., Ltd., Chongqing Aerospace Information Co., Ltd., and Ningxia Aerospace Information Co., Ltd., subsidiaries of the company, enjoy Western Development preferential policies, with a corporate income tax rate of **15%** for the current year[241](index=241&type=chunk) - According to the "Notice on VAT Policies for Software Products," the company's headquarters and several subsidiaries selling software and integrated circuit products enjoy an immediate refund policy for VAT paid on software and integrated circuit products that exceeds **3%** of the actual tax burden, upon approval by the competent tax authority[241](index=241&type=chunk) - According to the "Notice on Comprehensively Launching the Pilot Program for Replacing Business Tax with Value-Added Tax," Aerospace Information Co., Ltd. and several subsidiaries enjoy VAT exemption for technology transfer and technology development[242](index=242&type=chunk) [Notes to Consolidated Financial Statement Items](index=74&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes for each major item in the consolidated financial statements, including monetary funds, financial assets, receivables and payables, inventories, long-term assets, liabilities, owners' equity, and various income and expenses, explaining their composition, changes, and related accounting treatments - The ending balance of monetary funds is **5.973 billion RMB**, of which **177 million RMB** are restricted monetary funds, mainly including deposits, court-frozen funds, and other restricted funds[245](index=245&type=chunk) - The ending balance of transactional financial assets is **345 million RMB**, primarily equity instrument investments measured at fair value with changes recognized in current profit or loss[247](index=247&type=chunk) - The ending book balance of accounts receivable is **3.592 billion RMB**, with a total bad debt provision of **932 million RMB**, resulting in a book value of **2.660 billion RMB**, of which **44.09%** are within one year of age[257](index=257&type=chunk)[258](index=258&type=chunk) - The ending balance of inventories is **1.579 billion RMB**, an increase of **7.03%** from the beginning of the period, mainly due to increased procurement and stocking by subsidiaries in the current period[289](index=289&type=chunk) - The ending book value of intangible assets is **3.187 billion RMB**, of which intangible assets formed through internal R&D in the current period account for **1.99%** of total intangible assets[321](index=321&type=chunk) - Operating revenue for the current period was **2.488 billion RMB**, a **41.01% year-on-year decrease**; operating cost was **1.888 billion RMB**, a **38.16% year-on-year decrease**[372](index=372&type=chunk) - R&D expenses for the current period were **343 million RMB**, a **13.95% year-on-year decrease**, mainly due to reduced R&D labor costs and outsourcing fees[378](index=378&type=chunk) [R&D Expenditures](index=127&type=section&id=VIII.%20R%26D%20Expenditures) This section presents the company's R&D expenditures by expense nature, totaling **568.66 million RMB**, comprising **343.18 million RMB** in expensed R&D and **225.48 million RMB** in capitalized R&D, and details the capitalized R&D projects R&D Expenditures by Expense Nature (Unit: RMB) | Item | Amount for Current Period | Amount for Prior Period | | :--- | :--- | :--- | | Labor Costs | 327,016,172.03 | 517,891,938.79 | | Outsourcing Fees | 5,198,237.73 | 28,835,726.91 | | Depreciation and Amortization | 187,108,778.28 | 173,960,519.96 | | Material Costs | 2,302,255.46 | 2,255,717.94 | | Testing and Experiment Processing Fees | 2,167,242.35 | 799,850.71 | | Other | 44,869,638.73 | 42,713,667.37 | | Total | 568,662,324.58 | 766,457,421.68 | | Of which: Expensed R&D Expenditures | 343,182,885.69 | 398,836,639.27 | | Capitalized R&D Expenditures | 225,479,438.89 | 367,620,782.41 | - Capitalized R&D projects for the current period include the overseas ticketing service integrated platform, overseas digital archive management system, and international trade single window service platform, with an ending balance totaling **428 million RMB**[407](index=407&type=chunk)[408](index=408&type=chunk) [Equity in Other Entities](index=129&type=section&id=X.%20Equity%20in%20Other%20Entities) This section details the company's equity in subsidiaries, joint ventures, and associates, including the composition of the enterprise group, financial information of significant non-wholly owned subsidiaries, and aggregated financial information of insignificant joint ventures and associates - The company includes **52 second-tier subsidiaries** and their **16 third-tier subsidiaries**, such as Aerospace Network Security Technology (Shenzhen) Co., Ltd., in the scope of its consolidated financial statements for the current period[120](index=120&type=chunk) - The company has full management and decision-making power over Hubei Aerospace Information Technology Co., Ltd., Beijing Aerospace Golden Tax Technology Co., Ltd., Sichuan Aerospace Information Co., Ltd., Gansu Aerospace Information Co., Ltd., and Jiangxi Aerospace Information Co., Ltd. through management agreements, thus their financial statements are included in the consolidated scope[413](index=413&type=chunk)[414](index=414&type=chunk) [1、Equity in Subsidiaries](index=129&type=section&id=1%E3%80%81Equity%20in%20Subsidiaries) Details the registered location, business nature, shareholding percentage, and minority shareholder interests, profit/loss, and equity balances of the company's major subsidiaries and significant non-wholly owned subsidiaries, along with their key financial information Minority Shareholdings in Significant Non-Wholly Owned Subsidiaries (Unit: RMB) | Subsidiary Name | Minority Shareholding Percentage (%) | Profit or Loss Attributable to Minority Shareholders in Current Period | Dividends Declared to Minority Shareholders in Current Period | Minority Shareholders' Equity Balance at Period End | | :--- | :--- | :--- | :--- | :--- | | Anhui Aerospace Information Technology Co., Ltd. | 33 | -2,297,364.04 | 0.00 | 100,918,077.69 | | Beijing Aerospace Golden Tax Technology Co., Ltd. | 62.81 | 269,680.89 | 0.00 | 176,635,829.06 | | Fujian Aerospace Information Technology Co., Ltd. | 51.79 | 1,398,018.54 | 0.00 | 45,801,939.74 | | Aerospace Information (Guangdong) Co., Ltd. | 49 | 3,073,871.82 | 4,900,000.00 | 101,754,347.26 | | Jiangsu Aisino Information Technology Co., Ltd. | 49 | 708,045.95 | 1,225,000.00 | 79,965,048.84 | | Ningbo Aisino Aerospace Information Co., Ltd. | 43.76 | 22,569.41 | 2,188,000.00 | 48,680,596.81 | | Shaanxi Aerospace Information Co., Ltd. | 49 | 149,338.54 | 0.00 | 44,514,757.48 | | Shanghai Aisino Aerospace Information Co., Ltd. | 39.88 | 684,808.94 | 0.00 | 46,424,483.72 | | Sichuan Aerospace Information Co., Ltd. | 66 | 1,202,671.28 | 3,651,214.78 | 78,623,009.59 | | Zhejiang Aerospace Information Co., Ltd. | 38 | -2,673,215.55 | 7,294,784.00 | 99,518,740.05 | | Beijing Jiewen Technology Co., Ltd. | 40 | -12,345,213.62 | 18,000,000.00 | 124,274,525.98 | | Aisino Deli Information System (Shanghai) Co., Ltd. | 49.01 | -7,897,110.99 | 0.00 | 391,664,799.06 | | Aerospace Network Security Technology (Shenzhen) Co., Ltd. | 35 | -10,695,151.53 | 10,584,000.00 | 82,996,724.91 | | Total | | -45,356,833.59 | 50,782,998.78 | 1,489,948,604.50 | [3、Equity in Joint Ventures or Associates](index=137&type=section&id=3%E3%80%81Equity%20in%20Joint%20Ventures%20or%20Associates) Discloses aggregated financial information for the company's insignificant associates, with total investment book value of **660.41 million RMB** and net profit and total comprehensive income of **-5.66 million RMB** for the current period Aggregated Financial Information of Insignificant Associates (Unit: RMB) | Item | Ending Balance/Amount for Current Period | Beginning Balance/Amount for Prior Period | | :--- | :--- | :--- | | Associates: | | | | Total Investment Book Value | 660,408,796.07 | 666,266,590.37 | | --Net Profit | -5,656,894.30 | -15,181,507.36 | | --Other Comprehensive Income | 0.00 | 0.00 | | --Total Comprehensive Income | -5,656,894.30 | -15,181,507.36 | [Government Grants](index=138&type=section&id=XI.%20Government%20Grants) Total government grants recognized in current profit or loss for the current period amounted to **24.5173 million RMB**, comprising **24.4768 million RMB** related to income and **40,476.96 RMB** related to assets Governmen

Industry Overview - The RFID industry in China has been rapidly developing, especially since the Internet of Things (IoT) was included in the national development strategy in 2010 [1][11] - The market size of the RFID industry in China is projected to reach 61.22 billion yuan in 2024, with a year-on-year growth of 4.13% [1][11] - The continuous advancement in integrated circuits and communication technology has led to a decrease in the costs of RFID tags and readers, making the technology more accessible to businesses [1][11] RFID Technology Classification - RFID technology is categorized into four main types based on frequency: Low Frequency (LF), High Frequency (HF), Ultra High Frequency (UHF), and Microwave [2][3] - Each type has distinct characteristics and applications, such as LF for animal tracking and UHF for logistics tracking [3] Industry Development History - RFID technology has historical roots dating back to World War II, with its first commercial applications emerging in the late 20th century [6][8] - The technology has evolved significantly, with various stages of development from theoretical exploration to widespread commercial use [6][8] Industry Value Chain - The RFID industry value chain consists of upstream components like chips and antennas, midstream system integration, and downstream applications in logistics, retail, and security management [9] Key Companies and Market Dynamics - The RFID industry in China features a pyramid-shaped competitive structure, with leading companies like Yuanwanggu and Aerospace Information at the top, focusing on comprehensive industry chain layouts [13][14] - Companies such as Guoxin Wulian and Xinlian Chuangzhan are innovating in chip design and antenna materials, contributing to domestic substitution [13][14] Market Trends - The integration of RFID with AI, edge computing, and 6G technology is driving the industry towards intelligent perception and operational efficiency [18] - New application areas are emerging, including smart agriculture, vehicle networking, and environmental sustainability, expanding the use of RFID technology [20] - The establishment of standards and security measures is crucial for the healthy development of the industry, with efforts to create a comprehensive regulatory framework [21]

Core Viewpoint - The company held its second extraordinary general meeting of shareholders on August 15, 2025, where several key resolutions were passed, including the cancellation of the supervisory board and the election of the ninth board of directors [2][4][9]. Group 1: Meeting Details - The extraordinary general meeting was convened in Haidian District, Beijing, and was attended by all directors and supervisors [2][3]. - The meeting was conducted in accordance with the Company Law and the company's articles of association, ensuring the legality and validity of the resolutions passed [2][4]. Group 2: Resolutions Passed - The proposal to cancel the supervisory board and amend the company's articles of association was approved with more than two-thirds of the voting rights present [4]. - The resolutions to amend the rules of the shareholders' meeting and the board of directors' meeting were also passed [4][5]. - The election of the ninth board of directors, including both independent and non-independent directors, was successfully conducted [5][11]. Group 3: Board and Management Appointments - Zhang Di was elected as the chairman of the ninth board of directors, with a term from August 15, 2025, to August 14, 2028 [10][11]. - Chen Rongxing was appointed as the general manager, and several vice presidents and other key management positions were filled, all with the same term as the board [15][21]. - The board's specialized committees were established, with specific members appointed to each committee [13][15]. Group 4: Legal Compliance - The meeting was witnessed by legal representatives from a law firm, confirming that all procedures and resolutions complied with relevant laws and regulations [5][6].

Core Viewpoint - The company, Aerospace Information, has shown a slight increase in stock price and has significant business operations in digital government and enterprise digitalization sectors [1] Group 1: Stock Performance - The latest stock price of Aerospace Information is 9.36 yuan, reflecting an increase of 0.21% from the previous trading day [1] - The trading volume for the day was 255,576 hands, with a total transaction amount of 240 million yuan [1] - The stock price fluctuated between 9.30 yuan and 9.46 yuan during the day, resulting in a volatility of 1.71% [1] Group 2: Business Segmentation - In the 2024 financial report, the digital government business accounted for 57.86% of the company's revenue, while the enterprise digitalization business represented 41.38% [1] Group 3: Corporate Governance - On August 15, the company held a staff representative meeting to elect employee directors and conducted an extraordinary shareholders' meeting to approve the cancellation of the supervisory board [1] - The first meeting of the ninth board of directors resulted in the election of a new chairman [1] Group 4: Capital Flow - On the same day, there was a net outflow of 900.46 million yuan in main funds, with a cumulative net outflow of 2,532.95 million yuan over the past five trading days [1]