Core Viewpoint - The recent financial report of Beiba Media (600386) indicates a decline in revenue and net profit, highlighting challenges in its business model and financial health [1] Financial Performance - Total revenue for the first half of 2025 was 1.924 billion yuan, a decrease of 4.31% year-on-year [1] - Net profit attributable to shareholders was 6.4046 million yuan, down 36.89% compared to the previous year [1] - In Q2 2025, total revenue reached 1.013 billion yuan, reflecting a year-on-year increase of 6.61, while net profit was 14.4859 million yuan, a decline of 13.06% [1] Profitability Metrics - Gross margin stood at 13.78%, a decrease of 20.71% year-on-year [1] - Net margin was 0.38%, down 63.25% compared to the previous year [1] - The total of selling, administrative, and financial expenses was 234 million yuan, accounting for 12.18% of revenue, a decrease of 13.02% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents increased to 946 million yuan, up 16.28% year-on-year [1] - Accounts receivable rose to 328 million yuan, an increase of 14.08% [1] - Interest-bearing liabilities decreased to 1.428 billion yuan, down 8.27% year-on-year [1] Shareholder Metrics - Earnings per share remained at 0.01 yuan, showing no change year-on-year [1] - Book value per share was 2.2 yuan, reflecting a slight increase of 0.23% [1] - Operating cash flow per share was 0.3 yuan, up 13.33% year-on-year [1] Business Model Evaluation - The company's return on invested capital (ROIC) was 2.75%, indicating weak capital returns [2] - Historical data shows a median ROIC of 4.97% over the past decade, with two years of losses since its IPO, suggesting a fragile business model [1][2] - The reliance on research and marketing for performance necessitates a deeper examination of these drivers [2]

Core Viewpoint - Beijing Bashi Media Co., Ltd. reported a decline in revenue and profit for the first half of 2025, with total revenue of approximately RMB 1.92 billion, a decrease of 4.31% compared to the same period last year, and a net profit attributable to shareholders of approximately RMB 3.64 million, down 37.22% [2][3][4]. Company Overview and Financial Indicators - The company operates in three main business segments: advertising media, automotive services, and new energy [3]. - Key financial data for the first half of 2025 includes: - Total revenue: RMB 1,923,830,213.67 - Total profit: RMB 21,755,043.44 - Net profit attributable to shareholders: RMB 3,637,989.17 - Total assets: RMB 4,503,792,547.23 [2][4]. Business Segment Analysis Advertising Media - The advertising media segment manages bus body advertisements, bus stop shelters, and other public transport media, with approximately 16,000 buses involved [3]. - The company has 11,000 bus stop light boxes and operates through both self-managed and cooperative models [3]. Automotive Services - The automotive services segment includes vehicle sales, maintenance, leasing, and scrapping [3]. - The company has authorized dealerships for various brands and operates a vehicle leasing company with 780 vehicles, including 176 electric vehicles [3]. New Energy - The new energy segment focuses on the construction and operation of charging facilities, with 956 charging stations and 6,831 public charging piles operational as of June 30, 2025 [3][4]. Operational Performance - The company has implemented measures to improve operational quality and efficiency, focusing on enhancing self-management capabilities and reducing costs [3]. - The advertising media segment has seen a decrease in revenue due to reduced income from bus body media and vehicle sales [4]. Financial Performance - The company reported a net cash flow from operating activities of RMB 238,483,125.43, an increase of 13.33% compared to the previous year [4]. - The total assets decreased by 2.12% compared to the previous year, with total assets at RMB 4,503,792,547.23 [2][4]. Risk and Challenges - The company faces challenges in the automotive services sector due to economic pressures and industry consolidation, which may impact profitability [5]. - The new energy segment is also under pressure from rapid technological changes and market competition [5].

| 公司代码：600386 | 北京巴士传媒股份有限公司2025 年半年度报告摘要 | | | | | --- | --- | --- | --- | --- | | | 公司简称：北巴传媒 | | | | | 北京巴士传媒股份有限公司 | | | | | | | 北京巴士传媒股份有限公司2025 | 年半年度报告摘要 | | | | | 第一节 重要提示 | | | | | 展规划，投资者应当到 | www.sse.com.cn 网站仔细阅读半年度报告全文。 | | | | | 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | | | | 无 | | | | | | | 第二节 公司基本情况 | | | | | | 公司股票简况 | | | | | 股票种类 | 股票上市交易所 股票简称 | | 股票代码 | 变 | | 更前股票简称 | | | | | | A股 | 上海证券交易所 北巴传媒 | 600386 | | 北京巴士 | | 联系人和联系方式 | 董事会秘书 | | | 证券事务代表 | | 姓名 | 王婕 | | | | | 电话 | 010-684773 ...

Market Overview - The automotive service sector experienced a decline of 1.04% on August 29, with Altec leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Notable stock performances in the automotive service sector included: - Jiao Yun Co. (600676) closed at 6.03, up 2.20% with a trading volume of 188,400 shares [1] - Bei Ba Media (600386) closed at 4.66, up 0.87% with a trading volume of 166,400 shares [1] - Altec (300825) closed at 11.92, down 5.25% with a trading volume of 401,700 shares and a transaction value of 484 million [2] - Hao Wu Co. (000757) closed at 4.84, down 3.20% with a trading volume of 285,100 shares and a transaction value of 139 million [2] Capital Flow - The automotive service sector saw a net outflow of 47.97 million from institutional investors, while retail investors had a net inflow of 62.15 million [2] - The detailed capital flow for specific stocks showed: - Guo Ji Auto (600335) had a net inflow of 11.55 million from institutional investors [3] - Altec (300825) experienced a net outflow of 20.99 million from institutional investors [3] - Xiamen Xinda (000701) had a significant net outflow of 18.85 million from institutional investors [3]

Group 1 - The core viewpoint of the article is that Beiba Media (600386.SH) reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year [1] Group 2 - The company achieved total operating revenue of 1.924 billion yuan, representing a year-on-year decrease of 4.31% [1] - The net profit attributable to shareholders of the parent company was 6.4046 million yuan, showing a year-on-year decline of 36.89% [1] - The basic earnings per share were reported at 0.01 yuan [1]

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board, supervisors, and senior management guarantee the accuracy and completeness of the semi-annual report, which remains unaudited, and highlights forward-looking statements as non-substantive commitments - The company's board, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, with no false records, misleading statements, or major omissions[3](index=3&type=chunk) - This semi-annual report is unaudited[5](index=5&type=chunk) - Forward-looking statements regarding the company's operations and development strategy in this report do not constitute a substantive commitment to investors, who should maintain sufficient risk awareness[6](index=6&type=chunk) - No significant risks substantially affecting the company's production and operations during the reporting period[7](index=7&type=chunk) [Section I Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section defines key terms used throughout the report, including regulatory bodies and major subsidiaries - This section provides definitions for common terms used in the report, including the China Securities Regulatory Commission, Shanghai Stock Exchange, Beijing Public Transport Group, Beiba Media, and its main subsidiaries (e.g., Haiyijie, Longrui Sanyou, Bus Leasing, Tianjiao Company, Bus Advertising, Beiba Auto)[17](index=17&type=chunk) [Section II Company Profile and Key Financial Indicators](index=4&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides the company's contact information, stock details, and a summary of key financial performance and indicators for the reporting period [II. Contact Person and Information](index=4&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section provides the company's basic contact information, including the board secretary's name, address, phone, fax, and email, for investor communication - The company's Board Secretary is Wang Jie, with contact address at No. 32 Zizhuyuan Road, Haidian District, Beijing, telephone 010-68477383, and email bbcm@bbcm.com.cn[14](index=14&type=chunk) [V. Company Stock Profile](index=5&type=section&id=%E4%BA%94%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%E7%AE%80%E5%86%B5) This section briefly introduces the company's stock information, including stock type, listing exchange, stock abbreviation, and code, as well as the previous abbreviation - The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation “Beiba Media” and stock code “600386”, previously “Beijing Bus”[19](index=19&type=chunk) [VII. Key Accounting Data and Financial Indicators](index=5&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section presents the company's key accounting data and financial indicators for the reporting period, showing a decrease in operating revenue and total profit but an increase in net cash flow from operating activities, along with non-recurring items Major Accounting Data (Consolidated Statements) | Major Accounting Data | Current Period (Jan-Jun) (Yuan) | Prior Year Period (Adjusted) (Yuan) | Current Period vs. Prior Year Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,923,830,213.67 | 2,010,436,459.08 | -4.31 | | Total Profit | 21,755,043.44 | 34,559,014.59 | -37.05 | | Net Profit Attributable to Listed Company Shareholders | 6,404,603.61 | 10,148,419.15 | -36.89 | | Net Profit Attributable to Listed Company Shareholders Excluding Non-recurring Gains and Losses | 3,637,989.17 | 5,794,903.33 | -37.22 | | Net Cash Flow from Operating Activities | 238,483,125.43 | 210,439,411.13 | 13.33 | | Net Assets Attributable to Listed Company Shareholders (End of Current Period) | 1,777,309,077.95 | 1,767,983,051.84 | 0.53 | | Total Assets (End of Current Period) | 4,503,792,547.23 | 4,601,200,214.63 | -2.12 | Key Financial Indicators | Key Financial Indicators | Current Period (Jan-Jun) | Prior Year Period (Adjusted) | Current Period vs. Prior Year Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | 0.01 | 0.01 | No Change | | Weighted Average Return on Net Assets (%) | 0.36 | 0.57 | Decrease of 0.21 percentage points | | Weighted Average Return on Net Assets Excluding Non-recurring Gains and Losses (%) | 0.20 | 0.33 | Decrease of 0.13 percentage points | Non-recurring Gains and Losses Items | Non-recurring Gains and Losses Items | Amount (Yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | 1,528,450.30 | | Government grants recognized in current profit or loss | 1,166,593.69 | | Other non-operating income and expenses apart from the above | 1,197,705.31 | | Less: Income tax impact | 541,884.12 | | Minority interest impact (after tax) | 584,250.74 | | Total | 2,766,614.44 | [Section III Management Discussion and Analysis](index=6&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides management's discussion and analysis of the company's industry, main business operations, core competitiveness, and key operating performance during the reporting period [I. Description of the Company's Industry and Main Business Operations During the Reporting Period](index=6&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company primarily operates in advertising media, automotive services, and new energy sectors, each with distinct business models and industry positioning, covering bus media advertising, 4S dealership sales and maintenance, vehicle leasing, scrap vehicle recycling, and new energy charging services [(1) Operating Model and Industry Overview of Advertising Media Business](index=6&type=section&id=%28%E4%B8%80%29%20%E5%B9%BF%E5%91%8A%E4%BC%A0%E5%AA%92%E4%B8%9A%E5%8A%A1%E7%9A%84%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F%E5%8F%8A%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The company centrally manages bus media advertising in Beijing, including bus body media and bus stop light boxes, operating through both self-managed and cooperative models - The company operates approximately **16,000 bus body media vehicles**, including about **15,000 single-deck vehicles** and **1,000 double-deck vehicles**, managed by the advertising branch's self-operated business department[26](index=26&type=chunk) - The company's bus stop light box media, totaling over **11,000 units**, operates under a cooperative and self-managed model; other bus media businesses, such as in-car hanging boards and mobile TV, are operated through self-management and cooperative models, respectively[26](index=26&type=chunk) [(2) Operating Model and Industry Overview of Automotive Services Business](index=6&type=section&id=%28%E4%BA%8C%29%20%E6%B1%BD%E8%BD%A6%E6%9C%8D%E5%8A%A1%E4%B8%9A%E5%8A%A1%E7%9A%84%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F%E5%8F%8A%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The company's automotive services segment encompasses small passenger vehicle sales, maintenance and after-sales (4S dealership business), vehicle leasing, and vehicle scrap and recycling, forming a comprehensive automotive service system - Subsidiaries Haiyijie Company and Beiba Auto Company are integrated automotive service platforms offering vehicle sales, maintenance, parts supply, and used vehicle brokerage, with authorized dealerships for brands such as Audi, Lexus, Volvo, Toyota, Buick, Honda, Geely Galaxy, and Leapmotor[27](index=27&type=chunk) - Wholly-owned subsidiary Bus Leasing Company has a total of **780 leased vehicles**, including **176 electric vehicles**[27](index=27&type=chunk) - Wholly-owned subsidiary Tianjiao Company is a state-owned scrap motor vehicle dismantling enterprise approved by the Beijing Municipal Commission of Commerce, designated for dismantling public transport operating vehicles, police vehicles, traffic administration vehicles, public buses, foreign-plated vehicles, and confiscated vehicles in Beijing[27](index=27&type=chunk) [(3) Operating Model and Industry Overview of New Energy Business](index=7&type=section&id=%28%E4%B8%89%29%20%E6%96%B0%E8%83%BD%E6%BA%90%E4%B8%9A%E5%8A%A1%E7%9A%84%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F%E5%8F%8A%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The company's controlling subsidiary, Longrui Sanyou Company, serves as a new energy charging service platform, primarily responsible for the construction and operation of new energy vehicle charging facilities, establishing an extensive charging network - As of June 30, 2025, Longrui Sanyou Company has **956 charging stations**, **1,428 public bus charging piles**, and **6,831 public charging piles** in operation[27](index=27&type=chunk) [II. Discussion and Analysis of Operations](index=7&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) Facing intensified industry competition and market supply-demand changes, the company's management actively responded with multiple measures to improve operational quality and efficiency, steadily advancing business development, particularly in advertising media, automotive services, and new energy sectors - The advertising media segment fully implemented reform and deepening actions, enhancing self-operation capabilities and occupancy rates, strengthening accounts receivable collection, reinforcing safety management, and reducing costs[29](index=29&type=chunk) - The automotive services segment adhered to high-quality development, optimizing resource allocation, steadily reducing scale, adjusting brand matrix, enhancing profitability, and focusing on improving new energy vehicle dismantling levels to expand into the circular economy[29](index=29&type=chunk) - The new energy segment actively implemented the “dual carbon” strategy, revitalizing existing station resources, improving the service network, promoting the construction of supercharging hubs and on-site charging projects, accelerating the layout of the socialized charging network, and increasing technological innovation[29](index=29&type=chunk) - In the first half of 2025, the new energy segment newly built and operated **24 charging stations** and added **120 charging piles**[29](index=29&type=chunk) [III. Analysis of Core Competitiveness During the Reporting Period](index=7&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company possesses significant core competitiveness across its advertising media, automotive services, and new energy segments, driven by scarce media resources, a comprehensive automotive service ecosystem, an extensive charging network, and mature operational management experience - Advertising Media Segment: Bus advertising media offers wide coverage, long operating hours, strong visual impact, and Beijing's outdoor media resources are scarce; the company's marketing team has well-established business channels and sales networks[30](index=30&type=chunk) - Automotive Services Segment: A comprehensive automotive service ecosystem covering vehicle sales, maintenance, leasing, and dismantling/recycling has been established, with subsidiaries having prominent regional layout advantages and a diversified brand structure[30](index=30&type=chunk) - New Energy Segment: Formed a widely distributed power service network and charging service platform with large single-point power scale, accumulated rich experience in charging network construction and operation management, and leveraged bus depot resources to deploy a socialized charging network, possessing advantages in scale, network expansion, and market competition[31](index=31&type=chunk) - Operational Mechanism Assurance: The company has accumulated rich operational management experience and professional management talent in various business areas, formulated clear medium- and long-term development strategies, and possesses clear business ideas, mature operational mechanisms, standardized internal management, and a stable workforce[31](index=31&type=chunk) [IV. Key Operating Performance During the Reporting Period](index=8&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) During the reporting period, the company's operating revenue and several expenses decreased year-on-year, while net cash flow from operating activities increased, and net cash flow from investing activities significantly improved. The asset-liability structure saw multiple changes, with significant increases in construction in progress and contract liabilities, and a decrease in long-term payables. The company holds Songzhi Co., Ltd. shares and analyzed its major controlled and investee companies [(1) Analysis of Main Business Operations](index=8&type=section&id=%28%E4%B8%80%29%20%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) This period saw a year-on-year decrease in the company's operating revenue, operating costs, selling expenses, administrative expenses, financial expenses, and R&D expenses, while net cash flow from operating activities increased, and cash flows from investing and financing activities showed significant changes Analysis of Changes in Financial Statement Items | Item | Current Period Amount (Yuan) | Prior Year Period Amount (Yuan) | Change Ratio (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,923,830,213.67 | 2,010,436,459.08 | -4.31 | | Operating Costs | 1,658,797,033.82 | 1,661,151,048.42 | -0.14 | | Selling Expenses | 95,078,563.51 | 118,390,872.46 | -19.69 | | Administrative Expenses | 116,729,017.78 | 136,117,053.44 | -14.24 | | Financial Expenses | 22,568,271.06 | 27,094,746.69 | -16.71 | | R&D Expenses | 13,036,747.66 | 14,523,294.79 | -10.24 | | Net Cash Flow from Operating Activities | 238,483,125.43 | 210,439,411.13 | 13.33 | | Net Cash Flow from Investing Activities | -54,894,022.13 | -206,593,958.65 | Not Applicable | | Net Cash Flow from Financing Activities | -270,795,959.75 | -89,290,749.40 | Not Applicable | - Operating revenue decreased primarily due to reduced revenue from the company's bus body media business and vehicle sales business[32](index=32&type=chunk) - Net cash flow from operating activities increased primarily due to a decrease in notes payable paid by the company this year[33](index=33&type=chunk) [(3) Analysis of Assets and Liabilities](index=8&type=section&id=%28%E4%B8%89%29%20%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E6%83%85%E5%86%B5%E5%88%86%E6%9E%90) The company's asset-liability structure underwent several changes at the end of the reporting period, with significant increases in notes receivable and construction in progress, growth in contract liabilities, and a substantial decrease in long-term payables. Information on restricted major assets is also disclosed Changes in Assets and Liabilities | Item | Period-End Balance (Yuan) | Change Ratio from Prior Year-End (%) | Reason for Change | | :--- | :--- | :--- | :--- | | Notes Receivable | 50,250,713.00 | 1,450.95 | Increase in bank acceptance bills received | | Construction in Progress | 74,599,446.06 | 93.92 | Increase in new energy charging pile projects | | Other Non-Current Assets | 15,694,336.76 | -33.33 | Transfer of input tax | | Contract Liabilities | 88,326,001.98 | 41.47 | Increase in subsidiary vehicle sales receipts | | Taxes Payable | 10,328,200.74 | -39.27 | Decrease in corporate income tax payable | | Other Current Liabilities | 10,329,186.59 | 69.60 | Increase in subsidiary deferred output tax | | Long-Term Payables | 68,209,999.98 | -52.34 | Transfer of bus body media usage fees | | Other Comprehensive Income | -19,231,339.91 | Not Applicable | Decrease in fair value of other equity instrument investments | Restricted Major Assets | Item | Period-End Book Balance (Yuan) | Period-Beginning Book Balance (Yuan) | | :--- | :--- | :--- | | Monetary Funds | 205,359,635.14 | 147,341,568.76 | | Inventories | 335,284,093.55 | 280,779,214.00 | | Total | 540,643,728.69 | 428,120,782.76 | - The main restricted assets are the company's bank acceptance bill deposits, dealer vehicle settlement deposits, and inventory pledged for collateral[38](index=38&type=chunk) [(4) Analysis of Investment Status](index=9&type=section&id=%28%E5%9B%9B%29%20%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company had no significant equity or non-equity investments during the reporting period but held financial assets measured at fair value, primarily an investment in Songzhi Co., Ltd. shares, with its period-end book value and current period fair value change disclosed Securities Investment Status | Security Code | Security Abbreviation | Initial Investment Cost (Yuan) | Period-Beginning Book Value (Yuan) | Current Period Fair Value Change Gain/Loss (Yuan) | Current Period Investment Gain/Loss (Yuan) | Period-End Book Value (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 002454 | Songzhi Co., Ltd. | 27,000,000 | 91,031,850 | 14,647,230 | 1,368,900 | 105,679,080 | - The company holds **13.689 million shares** of Songzhi Co., Ltd., with a closing price of **7.72 yuan/share** at period-end[241](index=241&type=chunk) [(6) Analysis of Major Controlled and Investee Companies](index=11&type=section&id=%28%E5%85%AD%29%20%E4%B8%BB%E8%90%A5%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) This section lists the operating performance of the company's major controlled subsidiaries, including registered capital, total assets, net assets, operating revenue, operating profit, and net profit, noting that some subsidiaries incurred losses - Beijing Public Transport Advertising Co., Ltd.: Wholly-owned subsidiary, net profit **40.327 million yuan**[44](index=44&type=chunk) - Beijing Bus Automotive Leasing Co., Ltd.: Wholly-owned subsidiary, net profit **0.8977 million yuan**[44](index=44&type=chunk) - Beijing Tianjiao Scrap Car Recycling and Processing Co., Ltd.: Wholly-owned subsidiary, net profit **0.0251 million yuan**[44](index=44&type=chunk) - Beijing Bus Haiyijie Automotive Services Co., Ltd.: Wholly-owned subsidiary, net profit attributable to parent company **-8.5257 million yuan**[45](index=45&type=chunk) - Longrui Sanyou New Energy Vehicle Technology Co., Ltd.: Controlled subsidiary (**51%**), net profit **15.6416 million yuan**[45](index=45&type=chunk) - Beijing Beiba Automotive Sales and Service Co., Ltd.: Controlled subsidiary (**60%**), net profit attributable to parent company **-15.2795 million yuan**[45](index=45&type=chunk) [V. Other Disclosures](index=12&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A1%B9) This section discloses potential risks faced by the company, primarily including changes in macroeconomic policies, intensified market competition, and internal operational management challenges, which could adversely affect the company's operating performance and development [(1) Potential Risks](index=12&type=section&id=%28%E4%B8%80%29%20%E5%8F%AF%E8%83%BD%E9%9D%A2%E5%AF%B9%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces risks from economic policy changes, intensified market competition, and internal operational management, which could adversely affect its three main businesses: advertising media, automotive services, and new energy - Economic Policy Change Risk: Macroeconomic uncertainties and industry regulatory policies may adversely affect the operating performance of advertising media, automotive services, and new energy businesses[46](index=46&type=chunk) - Market Competition Intensification Risk: Advertising media business lags in digital transformation, outdoor advertising faces strict regulation; automotive services business faces economic pressure and impact from new energy vehicle growth; new energy business faces technological iteration and industrial upgrading[46](index=46&type=chunk) - Internal Operational Management Risk: Rapid business expansion places higher demands on operational management, resource integration, market development, and overall coordination, potentially leading to operational risks[46](index=46&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=13&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section covers changes in the company's directors and senior management, profit distribution plans, and specific efforts in poverty alleviation and rural revitalization [I. Changes in Directors, Supervisors, and Senior Management](index=13&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there were changes in the company's directors and senior management, including the departure of director Cao Qizhi, the retirement of deputy general manager Shi Chunguo, and the election of Wang Yongjie as a company director - Cao Qizhi no longer serves as a company director, Shi Chunguo no longer serves as deputy general manager, and Wang Yongjie serves as a company director[49](index=49&type=chunk) - Mr. Shi Chunguo's appointment as deputy general manager was terminated on June 5, 2025, due to reaching the statutory retirement age[49](index=49&type=chunk) - Mr. Wang Yongjie was elected as a director of the company's Ninth Board of Directors at the company's 2024 Annual General Meeting on June 26, 2025[49](index=49&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=13&type=section&id=%E4%BA%8C%E3%80%81%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The company's proposed semi-annual profit distribution or capital reserve conversion plan is "none," meaning no profit distribution or capital reserve conversion will occur during the reporting period - The company's proposed semi-annual profit distribution or capital reserve conversion plan is “no,” meaning no distribution or conversion[50](index=50&type=chunk) [V. Specific Progress in Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, etc.](index=14&type=section&id=%E4%BA%94%E3%80%81%E5%B7%A9%E5%9B%BA%E6%8B%93%E5%B1%95%E8%84%B1%E8%B4%AB%E6%94%BB%E5%9D%9A%E6%88%90%E6%9E%9C%E3%80%81%E4%B9%A1%E6%9D%91%E6%8C%AF%E5%85%B4%E7%AD%89%E5%B7%A5%E4%BD%9C%E5%85%B7%E4%BD%93%E6%83%85%E5%86%B5) The company actively responded to national calls by deeply engaging in rural revitalization and support cooperation, assisting regions like Inner Mongolia and Xinjiang through employment, consumption, and public welfare initiatives, achieving concrete consumption assistance results - The company focused on employment assistance, consumption assistance, public welfare assistance, and other initiatives to support regions such as Inner Mongolia, Xinjiang, Qinghai, Tibet, Zhangjiakou-Chengde in Hebei, and areas involved in the South-to-North Water Diversion project[52](index=52&type=chunk) - As of the first half of 2025, the company's total consumption assistance amounted to **95,100 yuan**, including **76,800 yuan** for canteen consumption assistance and **18,300 yuan** for purchasing comfort items and other assistance[52](index=52&type=chunk) [Section V Important Matters](index=15&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers the fulfillment of commitments, audit status, major litigation, significant related-party transactions, and major contracts, including guarantees [I. Fulfillment of Commitments](index=15&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, neither the company's actual controller, shareholders, related parties, acquirers, nor the company itself had any unfulfilled commitments or commitments continuing into the reporting period - Commitments by the company's actual controller, shareholders, related parties, acquirers, and the company itself, whether during or continuing into the reporting period, are “not applicable,” indicating no unfulfilled commitments[54](index=54&type=chunk) [IV. Semi-Annual Report Audit Status](index=16&type=section&id=%E5%9B%9B%E3%80%81%E5%8D%8A%E5%B9%B4%E6%8A%A5%E5%AE%A1%E8%AE%A1%E6%83%85%E5%86%B5) The company's semi-annual report was unaudited, and there were no changes in the appointment or dismissal of accounting firms, nor any non-standard audit opinions received during the reporting period - This semi-annual report is unaudited[5](index=5&type=chunk) [VII. Major Litigation and Arbitration Matters](index=16&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%AF%89%E8%AE%BC%E3%80%81%E4%BB%B2%E8%A3%81%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no major litigation or arbitration matters requiring disclosure - The company had no major litigation or arbitration matters during this reporting period[55](index=55&type=chunk) [X. Significant Related-Party Transactions](index=16&type=section&id=%E5%8D%81%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company engaged in daily related-party transactions with its controlling shareholder and its affiliated enterprises, and disclosed related-party creditor-debtor balances, which are primarily due to industry characteristics and do not affect the company's independence [(1) Related-Party Transactions Related to Daily Operations](index=16&type=section&id=%28%E4%B8%80%29%20%E4%B8%8E%E6%97%A5%E5%B8%B8%E7%BB%8F%E8%90%A5%E7%9B%B8%E5%85%B3%E7%9A%84%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company disclosed its 2025 daily related-party transactions with its controlling shareholder and its affiliated enterprises, including purchases, sales, and provision of services, in a temporary announcement - The company's daily related-party transactions with its controlling shareholder and its affiliated enterprises, including purchases, sales, and provision of services for 2025, were disclosed on March 27, 2025[55](index=55&type=chunk) [(4) Related-Party Creditor-Debtor Balances](index=17&type=section&id=%28%E5%9B%9B%29%20%E5%85%B3%E8%81%94%E5%80%BA%E6%9D%83%E5%80%BA%E5%8A%A1%E5%BE%80%E6%9D%A5) The company has fund movements with related parties, with a period-end balance of **86.603 million yuan** provided to related parties and **215.436 million yuan** provided by related parties to the listed company, primarily due to the company's industry characteristics and not affecting its independence Related-Party Creditor-Debtor Balances | Related Party | Related Relationship | Period-End Balance of Funds Provided to Related Parties (Yuan) | Period-End Balance of Funds Provided by Related Parties to Listed Company (Yuan) | | :--- | :--- | :--- | :--- | | Beijing Public Transport Holding (Group) Co., Ltd. | Parent Company | 81,347,659.09 | 145,633,480.26 | | Beijing Public Transport Group Asset Management Co., Ltd. | Wholly-owned subsidiary of parent company | 2,599,437.69 | 51,882,158.57 | | Beijing Public Transport Real Estate Development Co., Ltd. | Wholly-owned subsidiary of parent company | 2,188,575.83 | - | | Beijing Yizhuang Public Transport Tram Co., Ltd. | Wholly-owned subsidiary of parent company | 801,000.00 | 14,176,991.92 | | Total | / | 86,603,139.46 | 215,436,092.59 | - The formation of related-party creditor-debtor balances is primarily due to the company's industry characteristics, does not affect the independence of the listed company, and has not harmed the interests of the company or its small and medium shareholders[60](index=60&type=chunk) [XI. Major Contracts and Their Fulfillment](index=18&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company disclosed significant guarantee situations during the reporting period, primarily involving guarantees by subsidiaries for their own subsidiaries, totaling **40 million yuan**, representing **2.05%** of the company's net assets, with no overdue external guarantees [(2) Significant Guarantees Performed and Not Yet Completed During the Reporting Period](index=19&type=section&id=%28%E4%BA%8C%29%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E7%9A%84%E5%8F%8A%E5%B0%9A%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E9%87%8D%E5%A4%A7%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) At the end of the reporting period, the company's guarantee balance for subsidiaries was **40 million yuan**, accounting for **2.05%** of the company's net assets, with no guarantees provided to entities outside the consolidated scope or overdue external guarantees Company Guarantee Total | Indicator | Amount (10,000 yuan) | | :--- | :--- | | Total guarantee balance for subsidiaries at period-end (B) | 4,000 | | Total guarantee amount (A+B) | 4,000 | | Total guarantee amount as a percentage of company net assets (%) | 2.05 | - As of the end of the reporting period, the company and its subsidiaries had cumulative external guarantees of **40 million yuan**, of which **40 million yuan** was for guarantees by the company's subsidiaries to their own subsidiaries[63](index=63&type=chunk) - The company and its subsidiaries provided no guarantees to entities outside the consolidated scope and had no overdue external guarantees[63](index=63&type=chunk) [Section VI Share Changes and Shareholder Information](index=20&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital and provides information on its shareholders, including the total number of shareholders and the top ten shareholders [I. Changes in Share Capital](index=20&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) 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[65](index=65&type=chunk) [II. Shareholder Information](index=20&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **26,671** common shareholders. Beijing Public Transport Holding (Group) Co., Ltd. is the largest shareholder, holding **55.00%** of the shares - As of the end of the reporting period, the total number of common shareholders was **26,671**[66](index=66&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Period-End Shareholding (shares) | Percentage (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Beijing Public Transport Holding (Group) Co., Ltd. | 443,520,000 | 55.00 | State-owned Legal Person | | Pan Weihua | 7,500,000 | 0.93 | Domestic Natural Person | | Wang Yanting | 4,015,800 | 0.50 | Domestic Natural Person | | Zhang Hanquan | 3,660,100 | 0.45 | Domestic Natural Person | | Wang Hui | 3,063,361 | 0.38 | Domestic Natural Person | | Zhang Lun | 2,828,500 | 0.35 | Domestic Natural Person | | Zhu Yongsheng | 2,825,976 | 0.35 | Domestic Natural Person | | Wen Jian | 2,000,000 | 0.25 | Domestic Natural Person | | Zheng Xuexiang | 1,850,000 | 0.23 | Domestic Natural Person | | Wang Yunjin | 1,725,341 | 0.21 | Domestic Natural Person | - The company's largest shareholder, Beijing Public Transport Holding (Group) Co., Ltd., has no associated relationship with other circulating shareholders[68](index=68&type=chunk) [Section VII Bond-Related Information](index=22&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms that the company has no outstanding corporate bonds or convertible corporate bonds - The company has no information related to corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[71](index=71&type=chunk) - The company has no convertible corporate bonds[71](index=71&type=chunk) [Section VIII Financial Report](index=23&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's comprehensive financial statements, including the audit report status, consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes on accounting policies, taxes, and specific financial items [I. Audit Report](index=23&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This semi-annual report is unaudited - This semi-annual report is unaudited[5](index=5&type=chunk) [II. Financial Statements](index=23&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, comprehensively presenting the company's financial position, operating results, and cash flows at the end of the reporting period [Consolidated Balance Sheet](index=23&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the company's consolidated total assets were **4.504 billion yuan**, total liabilities were **2.553 billion yuan**, and total owners' equity was **1.951 billion yuan**, with current assets totaling **1.959 billion yuan** and non-current assets totaling **2.545 billion yuan** Key Data from Consolidated Balance Sheet | Item | June 30, 2025 (Yuan) | December 31, 2024 (Yuan) | | :--- | :--- | :--- | | Total Assets | 4,503,792,547.23 | 4,601,200,214.63 | | Total Current Assets | 1,958,972,263.04 | 1,939,223,347.15 | | Total Non-Current Assets | 2,544,820,284.19 | 2,661,976,867.48 | | Total Liabilities | 2,552,904,944.43 | 2,652,153,901.80 | | Total Owners' Equity | 1,950,887,602.80 | 1,949,046,312.83 | [Consolidated Income Statement](index=27&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) For January-June 2025, the company's consolidated total operating revenue was **1.924 billion yuan**, net profit was **7.391 million yuan**, and net profit attributable to parent company shareholders was **6.405 million yuan**, all showing a year-on-year decrease Key Data from Consolidated Income Statement | Item | 2025 Half-Year (Yuan) | 2024 Half-Year (Yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 1,923,830,213.67 | 2,010,436,459.08 | | II. Total Operating Costs | 1,911,034,344.42 | 1,964,162,447.38 | | III. Operating Profit | 20,564,796.31 | 33,630,376.86 | | IV. Total Profit | 21,755,043.44 | 34,559,014.59 | | V. Net Profit | 7,391,043.91 | 21,015,664.91 | | Net Profit Attributable to Parent Company Shareholders | 6,404,603.61 | 10,148,419.15 | | Minority Interest Income/Loss | 986,440.30 | 10,867,245.76 | | VI. Net Other Comprehensive Income After Tax | 10,985,422.50 | -19,712,160.00 | | VII. Total Comprehensive Income | 18,376,466.41 | 1,303,504.91 | | Basic Earnings Per Share (Yuan/share) | 0.01 | 0.01 | [Consolidated Cash Flow Statement](index=31&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For January-June 2025, the company's net cash flow from operating activities was **238.483 million yuan**, a year-on-year increase of **13.33%**. Net cash flow from investing activities was **-54.894 million yuan**, and net cash flow from financing activities was **-270.796 million yuan** Key Data from Consolidated Cash Flow Statement | Item | 2025 Half-Year (Yuan) | 2024 Half-Year (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 238,483,125.43 | 210,439,411.13 | | Net Cash Flow from Investing Activities | -54,894,022.13 | -206,593,958.65 | | Net Cash Flow from Financing Activities | -270,795,959.75 | -89,290,749.40 | | Net Increase in Cash and Cash Equivalents | -87,206,856.45 | -85,445,296.92 | | Period-End Cash and Cash Equivalents Balance | 740,575,461.64 | 758,929,262.48 | [III. Company Basic Information](index=42&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The company, formerly Beijing Bus Co., Ltd., was established in 1999 and listed on the Shanghai Stock Exchange in 2001. As of the end of 2024, its total share capital was **806.4 million shares**, primarily operating in advertising, new energy, and automotive services - The company, formerly Beijing Bus Co., Ltd., was established on June 18, 1999, with approval from the Beijing Municipal People's Government Office[102](index=102&type=chunk) - The company publicly issued A-shares and was listed on the Shanghai Stock Exchange on February 16, 2001[102](index=102&type=chunk) - As of December 31, 2024, the company's total issued share capital was **806.4 million shares**[103](index=103&type=chunk) - The company's main segments are advertising, new energy, and automotive, with business scope including advertising, property management, car leasing, scrap motor vehicle recycling and dismantling, electric vehicle charging services, and car sales and maintenance[103](index=103&type=chunk) [IV. Basis for Preparation of Financial Statements](index=42&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The company's financial statements are prepared on a going concern basis, adhering to enterprise accounting standards and relevant CSRC regulations, primarily using the accrual basis and historical cost as measurement bases - The company's financial statements are prepared on a going concern basis, comply with enterprise accounting standards, and truly and completely reflect the company's financial position, operating results, and other information[104](index=104&type=chunk)[108](index=108&type=chunk) - Accounting is based on the accrual basis, and except for certain financial instruments, all are measured at historical cost[105](index=105&type=chunk) [V. Significant Accounting Policies and Estimates](index=43&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the company's specific accounting policies and estimates for financial instruments, accounts receivable, long-term equity investments, fixed assets, intangible assets, and revenue recognition, also disclosing significant accounting policy changes for the period, specifically the shift from gross to net method for charging service revenue [11. Financial Instruments](index=47&type=section&id=11%E3%80%81%E9%87%91%E8%9E%8D%E5%B7%A5%E5%85%B7) The company's financial instruments are classified based on business model and contractual cash flow characteristics into those measured at amortized cost, fair value through other comprehensive income, and fair value through profit or loss, with clear methods for recognition, measurement, and derecognition - Financial assets are classified as measured at amortized cost, fair value through other comprehensive income, or fair value through profit or loss[126](index=126&type=chunk) - Financial liabilities are classified as financial liabilities measured at fair value through profit or loss and other financial liabilities[128](index=128&type=chunk) - Derecognition of financial assets requires the termination of rights to receive cash flows, transfer of substantially all risks and rewards, or relinquishment of control[130](index=130&type=chunk) [13. Accounts Receivable](index=50&type=section&id=13%E3%80%81%E5%BA%94%E6%94%B6%E8%B4%A6%E6%AC%BE) The company provides for bad debts on accounts receivable based on credit risk characteristics, categorizing them by automotive, advertising, new energy business customers, and inter-company receivables within the consolidated scope, with expected credit loss provisions determined by aging - Accounts receivable are grouped by credit risk characteristics into automotive business customers, advertising business customers, new energy business customers, and inter-company receivables within the consolidated scope[135](index=135&type=chunk) Accounts Receivable Expected Credit Loss Provision Ratios (by Aging) | Aging | Automotive Business Customer Provision Ratio (%) | Advertising Business Customer Provision Ratio (%) | New Energy Business Customer Provision Ratio (%) | | :--- | :--- | :--- | :--- | | Within 1 Year | 4.68 | 4.99 | 4.83 | | 1-2 Years | 23.19 | 25.11 | 24.15 | | 2-3 Years | 86.19 | 79.45 | 82.82 | | Over 3 Years | 100.00 | 100.00 | 100.00 | [18. Long-Term Equity Investments](index=53&type=section&id=18%E3%80%81%E9%95%BF%E6%9C%9F%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84) The company accounts for long-term equity investments where it has control, joint control, or significant influence using either the cost method or the equity method, with detailed rules for determining investment cost, subsequent measurement, profit/loss recognition, and accounting treatment for acquiring minority interests and disposing of long-term equity investments - Long-term equity investments where the company has joint control or significant influence over the investee are accounted for using the equity method; those where the company exercises control are accounted for using the cost method[150](index=150&type=chunk) - Long-term equity investments acquired through business combinations under common control are initially measured at the acquiree's owner's equity share in the ultimate controlling party's consolidated financial statements[148](index=148&type=chunk) - Long-term equity investments acquired through business combinations not under common control are initially measured at the merger cost on the acquisition date[149](index=149&type=chunk) [19. Fixed Assets](index=57&type=section&id=19%E3%80%81%E5%9B%BA%E5%AE%9A%E8%B5%84%E4%BA%A7) The company initially measures fixed assets at cost and depreciates them using the straight-line method with an estimated residual value rate of **3%**. Subsequent expenditures are capitalized if they are likely to generate future economic benefits and their cost can be reliably measured - Fixed assets are recognized only when it is probable that economic benefits associated with the asset will flow to the company and the cost of the asset can be measured reliably[157](index=157&type=chunk) Fixed Asset Depreciation Methods | Category | Depreciation Method | Useful Life (Years) | Residual Value Rate | Annual Depreciation Rate | | :--- | :--- | :--- | :--- | :--- | | Buildings and Structures | Straight-line method | 30-35 | 3% | 2.77%-3.23% | | Specialized Equipment | Straight-line method | 14 | 3% | 6.93% | | Operating Vehicles and Transportation Equipment | Straight-line method | 6-10 | 3% | 9.70%-16.17% | | Electronic Equipment and Others | Straight-line method | 5-18 | 3% | 5.39%-19.40% | [22. Intangible Assets](index=59&type=section&id=22%E3%80%81%E6%97%A0%E5%BD%A2%E8%B5%84%E4%BA%A7) The company initially measures intangible assets at cost, and those with finite useful lives are amortized using the straight-line method. R&D expenditures are divided into research and development phases; research phase expenditures are expensed, while development phase expenditures are capitalized as intangible assets if specific conditions are met - Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives from the date they are available for use[163](index=163&type=chunk) Intangible Asset Amortization Methods | Item | Useful Life | Amortization Method | | :--- | :--- | :--- | | Land Use Rights | 50 Years | Straight-line method | | Bus Body Media Use Rights | 3 Years, 10 Years | Straight-line method | | New Energy Bus Battery Data Use Rights | 10 Years | Straight-line method | | Franchises | 20 Years | Straight-line method | | Office Software | 5 Years, 10 Years | Straight-line method | - Research phase expenditures are expensed as incurred; development phase expenditures are recognized as intangible assets if specific conditions are met simultaneously, otherwise they are expensed[165](index=165&type=chunk)[167](index=167&type=chunk) [28. Revenue](index=62&type=section&id=28%E3%80%81%E6%94%B6%E5%85%A5) The company recognizes revenue when customers obtain control of related goods, allocating transaction prices to individual performance obligations based on contract terms. Specific business types such as advertising media, charging services, vehicle sales, maintenance, and leasing all have detailed revenue recognition principles - Revenue is recognized when the customer obtains control of the related goods, and the transaction price is allocated to each distinct performance obligation identified in the contract[180](index=180&type=chunk)[181](index=181&type=chunk) - Advertising media business revenue is recognized when the related advertisement or commercial activity appears in public[182](index=182&type=chunk) - Charging service revenue is recognized upon completion of providing charging services to customers, based on the charging quantity and agreed contract price[183](index=183&type=chunk) - Revenue from sales of vehicles and parts is recognized when the customer accepts the goods and obtains control of them[183](index=183&type=chunk) [34. Changes in Significant Accounting Policies and Estimates](index=67&type=section&id=34%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%92%8C%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1%E7%9A%84%E5%8F%98%E6%9B%B4) The company changed its revenue recognition for charging operation services from the gross method to the net method, in accordance with the Ministry of Finance's "Revenue Recognition for Charging (Supply) Services" application case, and retrospectively adjusted financial statement data - The company changed its revenue recognition for charging operation services from the gross method to the net method and retrospectively adjusted financial statement data for the reporting period[195](index=195&type=chunk) Impact Amount of Accounting Policy Change | Impact Item | Impact Amount (Yuan) | | :--- | :--- | | Operating Revenue, Operating Costs | -120,470,965.05 | | Cash Received from Sales of Goods, Provision of Services; Cash Paid for Purchase of Goods, Acceptance of Services | -136,132,190.50 | [VI. Taxes](index=68&type=section&id=%E5%85%AD%E3%80%81%E7%A8%8E%E9%A1%B9) This section details the company's main tax categories and rates, and discloses tax incentives enjoyed by subsidiaries as high-tech enterprises and small and micro enterprises Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable Revenue | 13%, 9%, 6%, 5%, 3%, 0.5% | | Consumption Tax | Taxable Revenue | 10% | | Urban Maintenance and Construction Tax | Based on actual turnover tax paid | 7%, 5%, 1% | | Corporate Income Tax | Taxable Income | 25% | - Beijing Tianjiao Scrap Car Recycling and Processing Co., Ltd. and Longrui Sanyou New Energy Vehicle Technology Co., Ltd. are recognized as high-tech enterprises and enjoy a **15%** corporate income tax preferential rate[198](index=198&type=chunk) - **12** of the company's subsidiaries meet the conditions for small and micro enterprise inclusive tax reductions and enjoy preferential corporate income tax policies for small and micro enterprises[199](index=199&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=69&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes for each item in the consolidated financial statements, including monetary funds, accounts receivable, inventories, fixed assets, intangible assets, various liabilities, as well as revenue, expenses, and profits, also disclosing restricted asset situations and specific data for major operating activities [1. Monetary Funds](index=69&type=section&id=1%E3%80%81%E8%B4%A7%E5%B8%81%E8%B5%84%E9%87%91) As of the end of the reporting period, the company's total monetary funds were **946 million yuan**, of which **205 million yuan** was restricted due to bank loan guarantees, bank acceptance bill guarantees, and dealer vehicle settlement guarantees Composition of Monetary Funds | Item | Period-End Balance (Yuan) | | :--- | :--- | | Cash on Hand | 28,600.21 | | Bank Deposits | 812,957,801.47 | | Other Monetary Funds | 132,948,695.10 | | Total | 945,935,096.78 | - As of June 30, 2025, monetary funds were restricted, including bank loan guarantees of **150,000 yuan**, bank acceptance bill guarantees of **202.383 million yuan**, and dealer vehicle settlement guarantees of **2.826 million yuan**[201](index=201&type=chunk) [3. Accounts Receivable](index=69&type=section&id=3%E3%80%81%E5%BA%94%E6%94%B6%E8%B4%A6%E6%AC%BE) At the end of the reporting period, the company's total accounts receivable were **395 million yuan**, with advertising segment receivables accounting for the highest proportion. The company had provided **67.424 million yuan** for bad debt provisions, and the top five debtors accounted for **78.67%** of the total accounts receivable Accounts Receivable Aging Distribution | Aging | Period-End Book Balance (Yuan) | | :--- | :--- | | Within 1 Year (inclusive) | 284,878,205.81 | | 1 to 2 Years | 75,367,702.16 | | 2 to 3 Years | 2,417,320.00 | | Over 3 Years | 32,699,824.77 | | Total | 395,363,052.74 | Disclosure of Accounts Receivable Bad Debt Provisions by Category | Category | Book Balance (Yuan) | Bad Debt Provision (Yuan) | Provision Ratio (%) | Book Value (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Provision for bad debts on a single item basis | 3,256,920.00 | 3,256,920.00 | 100.00 | - | | Provision for bad debts on a portfolio basis | 392,106,132.74 | 64,167,318.64 | 16.36 | 327,938,814.10 | | Total | 395,363,052.74 | 67,424,238.64 | 17.06 | 327,938,814.10 | - The total accounts receivable from the top five debtors by period-end balance amounted to **311.021 million yuan**, accounting for **78.67%** of the total accounts receivable period-end balance[217](index=217&type=chunk) [6. Inventories](index=76&type=section&id=6%E3%80%81%E5%AD%98%E8%B4%A7) At the end of the reporting period, the company's inventory book value was **414 million yuan**, primarily composed of raw materials and inventory goods. Inventory impairment provisions of **11.534 million yuan** had been made Inventory Classification | Item | Book Balance (Yuan) | Inventory Impairment Provision (Yuan) | Book Value (Yuan) | | :--- | :--- | :--- | :--- | | Raw Materials | 74,685,661.14 | 1,592,600.30 | 73,093,060.84 | | Inventory Goods | 351,136,302.42 | 9,941,829.93 | 341,194,472.49 | | Total | 425,821,963.56 | 11,534,430.23 | 414,287,533.33 | - Inventory impairment provisions remained unchanged at **11.534 million yuan** at both the beginning and end of the period, with no new additions or reductions during the current period[236](index=236&type=chunk) [10. Fixed Assets](index=80&type=section&id=10%E3%80%81%E5%9B%BA%E5%AE%9A%E8%B5%84%E4%BA%A7) At the end of the reporting period, the company's fixed assets had a book value of **1.587 billion yuan**, primarily comprising buildings, operating vehicles and transportation equipment, machinery, and electronic equipment. Some fixed assets were leased out under operating leases, and there were fixed assets for which property certificates had not yet been obtained Fixed Asset Book Value | Item | Period-End Book Value (Yuan) | | :--- | :--- | | Buildings and Structures | 60,126,481.07 | | Operating Vehicles and Transportation Equipment | 1,392,425,137.32 | | Machinery and Equipment | 96,375,142.43 | | Electronic Equipment and Others | 38,207,519.88 | | Total | 1,587,134,280.70 | - The book value of transportation equipment leased out under operating leases at period-end was **70.971 million yuan**[246](index=246&type=chunk) - Fixed assets for which property certificates have not yet been obtained include the office building of Beijing Public Transport Advertising Co., Ltd. (**15.423 million yuan**) and Beijing Tianjiao Scrap Car Recycling and Processing Co., Ltd. (**44.703 million yuan**)[248](index=248&type=chunk)[249](index=249&type=chunk) [11. Construction in Progress](index=82&type=section&id=11%E3%80%81%E5%9C%A8%E5%BB%BA%E5%B7%A5%E7%A8%8B) At the end of the reporting period, the company's construction in progress had a book balance of **74.599 million yuan**, primarily including the bus charging pile project (Phase V) and supercharging station projects, with an increase of **33.012 million yuan** during the current period Construction in Progress Status | Item | Period-End Balance (Yuan) | Period-Beginning Balance (Yuan) | | :--- | :--- | :--- | | Bus Charging Pile Project (Phase V) | 54,895,601.58 | 33,469,391.06 | | Supercharging Station | 12,048,276.06 | 462,580.19 | | New Energy Vehicle Charging Equipment and Installation Services | 3,590,099.74 | 2,784,365.04 | | Total | 74,599,446.06 | 38,468,549.11 | - The increase in construction in progress for the current period was **33.012 million yuan**, mainly for the bus charging pile project (Phase V) and supercharging station projects[256](index=256&type=chunk) [17. Assets with Restricted Ownership or Use Rights](index=88&type=section&id=17%E3%80%81%E6%89%80%E6%9C%89%E6%9D%83%E6%88%96%E4%BD%BF%E7%94%A8%E6%9D%83%E5%8F%97%E9%99%90%E8%B5%84%E4%BA%A7) At the end of the reporting period, the company's monetary funds and inventories had restricted ownership or use rights, totaling **541 million yuan**, primarily for bank acceptance bill guarantees, dealer vehicle settlement guarantees, and collateral for bank loans Assets with Restricted Ownership or Use Rights | Item | Period-End Book Balance (Yuan) | Restriction Type | Restriction Details | | :--- | :--- | :--- | :--- | | Monetary Funds | 205,359,635.14 | Other | Bank loan guarantees, bank acceptance bill guarantees, dealer vehicle settlement guarantees | | Inventories | 335,284,093.55 | Other | Inventory pledged for collateral, involving multiple bank acceptance bill credit line agreements and dealer financing agreements | - Total restricted assets amounted to **540.644 million yuan**, compared to **428.121 million yuan** at the beginning of the period[276](index=276&type=chunk) [29. Long-Term Payables](index=96&type=section&id=29%E3%80%81%E9%95%BF%E6%9C%9F%E5%BA%94%E4%BB%98%E6%AC%BE) The company's long-term payables primarily consist of bus body media usage fees, with a period-end balance of **68.210 million yuan**, a significant decrease from the beginning of the period, mainly due to payments for bus body usage fees and capital occupation fees during the current period Long-Term Payables Items | Item | Period-End Balance (Yuan) | Period-Beginning Balance (Yuan) | | :--- | :--- | :--- | | Bus Body Media Use Rights Fees | 68,209,999.98 | 143,104,580.00 | | Total | 68,209,999.98 | 143,104,580.00 | - The company signed a “Bus Body Usage Agreement” and supplementary agreements with Beijing Public Transport Group, agreeing to pay a total of **682.10 million yuan** in bus body usage fees in equal installments over ten years, and **150.4031 million yuan** in capital occupation fees[306](index=306&type=chunk) - This period, **78.237 million yuan** was paid for bus body usage fees and capital occupation fees[405](index=405&type=chunk) [36. Operating Revenue and Operating Costs](index=101&type=section&id=36%E3%80%81%E8%90%A5%E4%B8%9A%E6%94%B6%E5%85%A5%E5%92%8C%E8%90%A5%E4%B8%9A%E6%88%90%E6%9C%AC) During the reporting period, the company's consolidated operating revenue was **1.924 billion yuan**, and operating costs were **1.659 billion yuan**, both showing a year-on-year decrease. Main business revenue accounted for the vast majority, primarily from automotive 4S dealerships, charging pile services, and advertising media Operating Revenue and Operating Costs | Item | Current Period Amount - Revenue (Yuan) | Current Period Amount - Costs (Yuan) | Prior Period Amount - Revenue (Yuan) | Prior Period Amount - Costs (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 1,773,979,585.71 | 1,635,161,107.64 | 1,870,634,339.46 | 1,633,585,310.01 | | Other Business | 149,850,627.96 | 23,635,926.18 | 139,802,119.62 | 27,565,738.41 | | Total | 1,923,830,213.67 | 1,658,797,033.82 | 2,010,436,459.08 | 1,661,151,048.42 | Breakdown of Operating Revenue and Operating Costs (by Product Type) | Product Type | Operating Revenue (Yuan) | Operating Costs (Yuan) | | :--- | :--- | :--- | | Advertising Media Business | 108,284,714.52 | 49,544,603.25 | | Automotive 4S Dealerships | 1,586,297,880.45 | 1,452,606,922.75 | | Car Leasing Services | 23,111,011.78 | 17,019,517.68 | | Scrap Dismantling Services | 32,004,021.05 | 26,895,840.81 | | Charging Pile Services | 174,132,585.87 | 112,730,149.33 | - By operating region, revenue within Beijing was **1.792 billion yuan**, and revenue outside Beijing was **131.424 million yuan**[322](index=322&type=chunk) [40. R&D Expenses](index=103&type=section&id=40%E3%80%81%E7%A0%94%E5%8F%91%E8%B4%B9%E7%94%A8) During the reporting period, the company's total R&D expenses were **13.037 million yuan**, primarily composed of depreciation and amortization, labor costs, and material costs, showing a year-on-year decrease R&D Expense Composition | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Depreciation and Amortization | 8,379,935.22 | 7,977,668.95 | | Labor Costs | 4,186,201.64 | 6,283,566.44 | | Material Costs | 453,360.80 | 192,509.40 | | Other | 17,250.00 | 69,550.00 | | Total | 13,036,747.66 | 14,523,294.79 | - All R&D expenditures for the current period were expensed[328](index=328&type=chunk) [52. Supplementary Information to Cash Flow Statement](index=108&type=section&id=52%E3%80%81%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E8%A1%A5%E5%85%85%E8%B5%84%E6%96%99) This section provides supplementary information for the cash flow statement, including a detailed reconciliation of net profit to net cash flow from operating activities, and the composition of cash and cash equivalents - Net cash flow from operating activities was **238.483 million yuan**, primarily derived by adjusting net profit for non-cash items and changes in operating working capital[350](index=350&type=chunk)[351](index=351&type=chunk) Composition of Cash and Cash Equivalents | Item | Period-End Balance (Yuan) | | :--- | :--- | | I. Cash | 740,575,461.64 | | Of which: Cash on Hand | 28,600.21 | | Bank Deposits Available for Payment at Any Time | 711,901,570.85 | | Other Monetary Funds Available for Payment at Any Time | 28,645,290.58 | | III. Period-End Balance of Cash and Cash Equivalents | 740,575,461.64 | [VIII. R&D Expenditures](index=110&type=section&id=%E5%85%AB%E3%80%81%E7%A0%94%E5%8F%91%E6%94%AF%E5%87%BA) The company's total R&D expenditures during the reporting period were **13.037 million yuan**, all expensed, primarily invested in projects such as the PaaS platform charging pile intelligent operation and maintenance management system and new energy vehicle charging pile cloud management and edge-cloud collaboration optimization technology R&D Expenditures by Expense Nature | Item | Current Period Amount (Yuan) | | :--- | :--- | | Depreciation and Amortization | 8,379,935.22 | | Labor Costs | 4,186,201.64 | | Material Costs | 453,360.80 | | Other | 17,250.00 | | Total | 13,036,747.66 | | Of which: Expensed R&D Expenditures | 13,036,747.66 | - Major expensed R&D projects include the PaaS platform charging pile intelligent operation and maintenance management system, new energy vehicle charging pile cloud management and edge-cloud collaboration optimization technology, and IoT-driven charging pile automatic detection and operation and maintenance platform[356](index=356&type=chunk)[357](index=357&type=chunk) [IX. Changes in Consolidation Scope](index=111&type=section&id=%E4%B9%9D%E3%80%81%E5%90%88%E5%B9%B6%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E6%9B%B4) During the reporting period, the company's consolidation scope changed as its subsidiary, Beijing Bus Property Management Co., Ltd., was deregistered on March 5, 2025, and is no longer included in the consolidated scope - Beijing Bus Property Management Co., Ltd., a subsidiary of the company, was approved for deregistration by the Beijing Haidian District Market Supervision Administration on March 5, 2025, and is no longer included in the consolidated scope for this period[359](index=359&type=chunk) [X. Interests in Other Entities](index=112&type=section&id=%E5%8D%81%E3%80%81%E5%9C%A8%E5%85%B6%E4%BB%96%E4%B8%BB%E4%BD%93%E4%B8%AD%E7%9A%84%E6%9D%83%E7%9B%8A) This section details the company's enterprise group structure, including directly controlled subsidiaries with their registered capital, business nature, and shareholding percentages, and further discloses indirectly controlled sub-subsidiaries Composition of Enterprise Group (Major Subsidiaries) | Subsidiary Name | Registered Capital (10,000 Yuan) | Business Nature | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | Beijing Public Transport Advertising Co., Ltd. | 4,000.00 | Lightbox Advertising | 100.00 | | Beijing Bus Automotive Leasing Co., Ltd. | 4,280.00 | Car Leasing | 100.00 | | Beijing Tianjiao Scrap Car Recycling and Processing Co., Ltd. | 800.00 | Waste Material Recycling | 100.00 | | Longrui Sanyou New Energy Vehicle Technology Co., Ltd. | 16,675.84 | Power Supply | 51.00 | | Beijing Bus Haiyijie Automotive Services Co., Ltd. | 10,000.00 | Car Sales and Maintenance | 100.00 | | Beijing Beiba Automotive Sales and Service Co., Ltd. | 21,399.49 | Car Sales | 60.00 | | Beijing Beiba Media Technology Co., Ltd. | 500.00 | Technical Services | 100.00 | - The company controls Beijing Tiancheng Taxi Co., Ltd. (**100%**) through its subsidiary Beijing Bus Automotive Leasing Co., Ltd[361](index=361&type=chunk) - The company controls several automotive sales and maintenance subsidiaries, such as Beijing Garden Bridge Lexus Automotive Sales and Service Co., Ltd. (**100%**), through its subsidiary Beijing Bus Haiyijie Automotive Services Co., Ltd[361](index=361&type=chunk) - The company controls several automotive sales and maintenance subsidiaries, such as Beijing Jintai Kaidi Automotive Sales and Service Co., Ltd. (**100%**), through its subsidiary Beijing Beiba Automotive Sales and Service Co., Ltd[362](index=362&type=chunk) [XI. Government Grants](index=114&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%94%BF%E5%BA%9C%E8%A1%A5%E5%8A%A9) The company report period received multiple government grants, primarily asset-related for pure electric taxi promotion, charging facility construction, and car dismantling machine purchases. Some grants were recognized as deferred income and amortized to profit or loss, while others were directly recognized in current profit or loss Liability Items Involving Government Grants | Financial Statement Item | Period-End Balance (Yuan) | Amount Transferred to Other Income in Current Period (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | | Pure Electric Taxi Promotion and Application Incentive Funds | 3,990,192.51 | 690,793.68 | Asset-related | | Charging Facility Construction Subsidies | 986,449.77 | 266,933.40 | Asset-related | | Car Dismantling Machine, Wastewater Treatment Equipment Purchase Subsidies | 83,372.87 | 42,677.10 | Asset-related | | Management Concept Certification Project Support Funds | 64,000.00 | 0.00 | Income-related | | Total | 5,124,015.15 | 1,000,404.18 | / | Government Grants Recognized in Current Profit or Loss | Type | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Asset-related | 1,000,404.18 | 2,790,947.10 | | Income-related | 166,189.51 | 1,059,431.70 | | Total | 1,166,593.69 | 3,850,378.80 | [XII. Risks Related to Financial Instruments](index=116&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E4%B8%8E%E9%87%91%E8%9E%8D%E5%B7%A5%E5%85%B7%E7%9B%B8%E5%85%B3%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces credit risk, liquidity risk,

北京巴士传媒股份有限公司2025年上半年主要经营数据公告 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个别及连带责任。 北京巴士传媒股份有限公司（以下简称"公司"）根据上海证券交易所《上 海证券交易所上市公司自律监管指引第3号——行业信息披露 第四号——零售》 有关规定和披露要求，现将公司2025年上半年主要经营数据披露如下： 一、报告期内公司门店变动情况 | 分行业 | 地区 | | 新增门店 | 配套充电桩 | | 物业权属 | 建筑面积 | | 经营业态 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 新能源业务 | 北京市 | 24 | 个充电站 | 120 | 个 | 租赁 | 2045.04 | 平方米 | 新能源充电服务 | 股票代码：600386 股票简称：北巴传媒 编号：临 2025-019 | 分产品 | 营业收入 | 营业成本 | 毛利率 | 营业收 入比上 | 营业成 本比上 | 毛利率比上年增减 | | --- | --- | ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000757 | 浩物股份 | 5.34 | 4.30% | 46.47万 | 2.48亿 | | 601965 | 中国汽研 | 18.87 | -1.46% | 8.90万 | 1.70亿 | | 600653 | 申博控股 | 2.01 | -1.95% | 52.88万 | 1.08亿 | | 301215 | 中汽股份 | 6.44 | -2.28% | 1 20.40万 | 1.34亿 | | 600676 | 交运股份 | 5.84 | -2.67% | 23.64万 | 1.41亿 | | 000701 | 厦门信达 | 6.01 | -2.75% | 28.70万 | 1.75亿 | | 600386 | 北巴传媒 | 4.62 | -2.94% | 12.77万 | 5999.88万 | | 838030 | 德众汽车 | 7.23 | -3.21% | 3.23万 | 2385.00万 | | 600335 | 国机汽车 | ...

Market Overview - On August 26, the automotive service sector rose by 0.14% compared to the previous trading day, with Haowu Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Performance - Haowu Co., Ltd. (000757) closed at 5.12, up 2.40% with a trading volume of 153,800 shares and a transaction value of 78.54 million yuan [1] - Other notable performers included: - Alter (300825) at 13.38, up 1.75%, with a trading volume of 791,500 shares and a transaction value of 1.032 billion yuan [1] - XD Beiba Chuan (600386) at 4.76, up 1.49%, with a trading volume of 140,500 shares and a transaction value of 66.65 million yuan [1] - Zhongqi Co., Ltd. (301215) at 6.59, up 1.23%, with a trading volume of 163,900 shares and a transaction value of 108 million yuan [1] Capital Flow - The automotive service sector experienced a net outflow of 64.78 million yuan from institutional investors, while retail investors saw a net inflow of 6.53 million yuan [2] - The capital flow for individual stocks showed: - Haowu Co., Ltd. had a net inflow of 4.76 million yuan from retail investors but a net outflow of 7.54 million yuan from institutional investors [3] - Zhongqi Co., Ltd. had a net inflow of 4.54 million yuan from retail investors but a net outflow of 2.39 million yuan from institutional investors [3] - Alter saw a significant net outflow of 59.71 million yuan from institutional investors, with a net inflow of 45.65 million yuan from retail investors [3]

Market Overview - On August 25, the automotive service sector rose by 0.34% compared to the previous trading day, with Altec 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] Stock Performance - Altec (300825) closed at 13.15, with a gain of 5.28% and a trading volume of 817,300 shares, amounting to a turnover of 1.056 billion yuan [1] - Other notable stocks include: - Transportation Co. (600676) at 5.99, up 2.22% with a volume of 252,000 shares [1] - China Automotive Research (601965) at 19.41, down 0.36% with a volume of 61,500 shares [1] - Xiamen Xinda (000701) at 6.15, down 1.13% with a volume of 334,300 shares [1] Capital Flow - The automotive service sector experienced a net outflow of 14.17 million yuan from institutional investors, while retail investors saw a net outflow of 40.38 million yuan [2] - Conversely, speculative funds recorded a net inflow of 54.55 million yuan [2] Individual Stock Capital Flow - Altec (300825) had a net outflow of 22.25 million yuan from institutional investors, while speculative funds saw a net inflow of 48.09 million yuan [3] - Xiamen Xinda (000701) faced a significant net outflow of 41.78 million yuan from institutional investors, with a net inflow of 14.54 million yuan from speculative funds [3] - Transportation Co. (600676) had a net inflow of 14.72 million yuan from institutional investors, but a net outflow of 1.12 million yuan from retail investors [3]