Core Viewpoint - The financial performance of Baoshui Technology (600794) in the 2025 mid-year report shows significant declines in revenue and profit, indicating potential challenges in its business model and operations [1] Financial Performance Summary - Total operating revenue for 2025 is 420 million yuan, a decrease of 22.13% compared to 540 million yuan in 2024 [1] - Net profit attributable to shareholders is 48.67 million yuan, down 65.45% from 141 million yuan in the previous year [1] - The gross profit margin is 29.29%, a decline of 32.68% from 43.50% in 2024 [1] - The net profit margin is 14.18%, down 50.88% from 28.86% in 2024 [1] - Total expenses (selling, administrative, and financial) amount to 52.51 million yuan, accounting for 12.5% of revenue, an increase of 10.46% year-on-year [1] - Earnings per share decreased to 0.04 yuan, a drop of 66.67% from 0.12 yuan in 2024 [1] - Operating cash flow per share is -0.01 yuan, a decrease of 104% compared to 0.33 yuan in 2024 [1] Significant Changes in Financial Items - Accounts receivable decreased by 29.72%, from 9.98 million yuan to 7.01 million yuan [3] - Cash and cash equivalents decreased by 31.86%, from 837 million yuan to 570 million yuan [1] - Inventory increased by 218.09%, indicating a rise in self-operated inventory purchases [3] - Long-term receivables decreased by 68.0%, attributed to reduced returns from financing leasing business [3] - Financial expenses decreased by 122.18%, due to a reduction in bank borrowings [4] Cash Flow Analysis - Net cash flow from operating activities decreased by 103.96%, primarily due to reduced cash inflows from supply chain management businesses [4] - Net cash flow from financing activities increased by 90.76%, driven by decreased demand for bank acceptance bills [4] Historical Performance and Outlook - The company's return on invested capital (ROIC) for the previous year was 7.64%, indicating average capital returns [5] - Analysts expect the company's performance in 2025 to be around 138 million yuan, with an average earnings per share forecast of 0.12 yuan [5]

Group 1 - The company will hold a half-year performance briefing on August 29, 2025, from 14:00 to 15:00 [4][6] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [5][6] - Investors can submit questions for the briefing from August 22 to August 28, 2025, through the Roadshow Center website or via email [7] Group 2 - The company assures that the content of the announcement is truthful, accurate, and complete, and it bears legal responsibility for any misrepresentation [3] - The company has disclosed its half-year report on August 23, 2025, to provide investors with a comprehensive understanding of its operational results and financial status [4][5] - The briefing will address common concerns from investors regarding the company's performance and financial indicators [5][6]

Market Overview - On August 22, the logistics sector declined by 0.49%, with Hengji Daxin leading the drop [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Stock Performance - Notable gainers in the logistics sector included: - Furande (605050) with a closing price of 16.50, up 6.04% and a trading volume of 128,200 shares, totaling 205 million yuan [1] - ST Yuanshang (603813) closed at 16.13, up 5.01% with a trading volume of 4,983 shares, totaling approximately 800,000 yuan [1] - Major decliners included: - Hengji Daxin (002492) closed at 7.24, down 2.82% with a trading volume of 131,800 shares, totaling approximately 96.3 million yuan [2] - Huami Duhai (872351) closed at 29.92, down 2.54% with a trading volume of 26,700 shares, totaling approximately 80.1 million yuan [2] Capital Flow - The logistics sector experienced a net outflow of 317 million yuan from institutional investors, while retail investors saw a net inflow of 245 million yuan [2] - Notable capital flows included: - Donghang Logistics (601156) had a net inflow of 66.26 million yuan from institutional investors, but a net outflow of 46.13 million yuan from retail investors [3] - Furande (605050) saw a net inflow of 33.59 million yuan from institutional investors, with retail investors experiencing a net outflow of 12.39 million yuan [3]

Core Viewpoint - The report indicates a significant decline in the company's financial performance for the first half of 2025, with a notable drop in revenue and net profit compared to the same period in the previous year [2][3]. Company Overview and Financial Indicators - The company, Zhangjiagang Free Trade Science & Technology Group Co., Ltd., reported a total revenue of approximately 420.14 million yuan, representing a decrease of 22.13% compared to 539.54 million yuan in the same period last year [2][3]. - The total profit for the period was approximately 77.25 million yuan, down 59.30% from 189.82 million yuan year-on-year [2][3]. - The net profit attributable to shareholders was approximately 48.67 million yuan, reflecting a decline of 65.45% from 140.87 million yuan in the previous year [2][3]. - The net cash flow from operating activities was negative at approximately -15.89 million yuan, a drastic decrease from 401.03 million yuan in the same period last year, marking a 103.96% decline [2][3]. Industry and Main Business Situation - The company operates in the petrochemical storage industry, which is strategically significant in China's economic development, with a high demand for logistics services in the petrochemical sector [3][4]. - The industry has high entry barriers due to strict regulatory requirements for hazardous materials storage, complex project approval processes, and the need for logistical infrastructure [4]. - The industry is gradually transitioning towards digitalization, with a focus on developing third-party logistics and digital platforms to enhance efficiency and reduce costs [4][5]. Operational Analysis - The company has implemented a dual-driven strategy focusing on traditional logistics and smart logistics, enhancing its operational capabilities [6][7]. - The company’s subsidiary, Changjiang International, has become a leading liquid chemical storage enterprise in East China, with significant storage capacity and throughput [6][7]. - The company has developed a smart logistics platform that facilitates online delivery services, achieving a 100% online delivery rate by the end of the reporting period [7][8]. Competitive Advantages - The company benefits from its location in the Yangtze River Delta, a major consumption area for petrochemical products, and enjoys policy advantages as a bonded port area [7][8]. - The company has established itself as a designated delivery warehouse for various futures exchanges, enhancing customer trust and loyalty [8]. - The company has a strong focus on innovation, holding 54 patents and 70 software copyrights, which supports its technological advancements and operational efficiency [8].

Core Viewpoint - Zhangjiagang Free Trade Zone Technology (Group) Co., Ltd. reported a significant decline in financial performance for the first half of 2025, with notable decreases in revenue and profit metrics compared to the previous year [1]. Financial Performance Summary - Total assets at the end of the reporting period amounted to CNY 3,245,999,794.28, a decrease of 5.24% from the previous year's total of CNY 3,425,625,391.01 [1]. - Operating revenue for the period was CNY 420,141,412.34, reflecting a decline of 22.13% compared to CNY 539,544,067.85 in the same period last year [1]. - Total profit for the period was CNY 77,248,177.09, down 59.30% from CNY 189,821,441.43 year-on-year [1]. - Net profit attributable to shareholders was CNY 37,588,881.17, a decrease of 70.49% from CNY 127,386,980.14 in the previous year [1]. - Cash flow from operating activities showed a negative net amount of CNY -15,894,262.44, a significant decline of 103.96% from CNY 401,031,065.38 in the prior year [1]. - Basic and diluted earnings per share were both CNY 0.04, down 66.67% from CNY 0.12 in the previous year [1]. Shareholder Information Summary - As of the end of the reporting period, the total number of shareholders was 107,582 [2]. - The largest shareholder, Zhangjiagang Free Trade Zone Jinguang Asset Management Co., Ltd., holds 36.04% of the shares, totaling 432,517,788 shares [2]. - Other notable shareholders include Shanghai Shengbang Private Fund Management Co., Ltd. with 5.00% and Shenzhen Qianhai Yihua Investment Co., Ltd. with 1.13% [2].

证券代码：600794 证券简称：保税科技 公告编号：2025-041 张家港保税科技（集团）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 8 月 29 日(星期五)14:00-15:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 8 月 22 日(星期五)至 8 月 28 日(星期四)16:00 前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 Touzzzx@zftc.net 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 张家港保税科技（集团）股份有限公司（以下简称"公司"）已于 2025 年 8 月 23 日披露了公司 2025 年半年度报告，为便于广大投 ...

Group 1 - The company reported a total operating revenue of 420.14 million yuan, a decrease of 22.13% compared to the same period last year [1] - The net profit attributable to shareholders of the listed company was 48.67 million yuan, down 65.45% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 37.59 million yuan, a decline of 70.49% compared to the previous year [1]

张家港保税科技（集团）股份有限公司2025 年半年度报告 公司代码：600794 公司简称：保税科技 张家港保税科技（集团）股份有限公司 2025 年半年度报告 三、 本半年度报告未经审计。 四、 公司负责人季忠明、主管会计工作负责人徐惠及会计机构负责人（会计主管人员）徐惠声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 报告期内不进行利润分配或公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 1 / 141 张家港保税科技（集团）股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、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。 二、 公司全体董事出席董事会会议。 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细阐述公司在生产经营过程中可能面临的各种风险及应对措施，包括业 务与经营管理风险、市场竞争风险、政策风险等，敬请查阅第三节"管理层讨论与 ...

保税科技8月22日披露的半年报显示，公司上半年实现营业收入4.2亿元，同比下降22.13%；归属于上市 公司股东的净利润4866.76万元，同比下降65.45%；基本每股收益0.04元。 ...

智通财经APP讯，保税科技(600794.SH)发布2025年半年度报告，该公司营业收入为4.2亿元，同比减少 22.13%。归属于上市公司股东的净利润为4866.76万元，同比减少65.45%。归属于上市公司股东的扣除 非经常性损益的净利润为3758.89万元，同比减少70.49%。基本每股收益为0.04元。 ...