Market Overview - The software development sector experienced a decline of 3.6% on September 2, with Sifang Jingchuang leading the drop [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Notable gainers in the software development sector included: - Keda Automation (Code: 831832) with a closing price of 28.13, up 7.08% [1] - Yinzhijie (Code: 300085) with a closing price of 59.00, up 2.52% [1] - Hengtai Open Source (Code: 834415) with a closing price of 18.50, up 2.49% [1] - Major decliners included: - Sifang Jingchuang (Code: 300468) with a closing price of 42.86, down 10.39% [2] - Wangda Software (Code: 603189) with a closing price of 21.35, down 9.34% [2] - Jin Chengzi (Code: 688291) with a closing price of 38.21, down 9.30% [2] Capital Flow - The software development sector saw a net outflow of 10.057 billion yuan from institutional investors, while retail investors experienced a net inflow of 8.511 billion yuan [2] - The capital flow for specific stocks indicated: - Keda Xunfei (Code: 002230) had a net inflow of 2.69 billion yuan from institutional investors [3] - Qianxin (Code: 688561) had a net inflow of 77.12 million yuan from institutional investors [3] - Information Development (Code: 300469) had a net inflow of 67.82 million yuan from institutional investors [3]

Core Viewpoint - The recent financial report of Wangda Software (603189) indicates a significant decline in revenue and net profit for the first half of 2025 compared to the previous year, highlighting challenges in operational performance and increased expense ratios [1]. Financial Performance - Total revenue for the first half of 2025 was 127 million yuan, a decrease of 28.3% year-on-year [1]. - Net profit attributable to shareholders was 4.82 million yuan, down 19.68% from the previous year [1]. - In Q2 2025, total revenue was 52.98 million yuan, reflecting a 52.15% decline year-on-year [1]. - Q2 net profit attributable to shareholders was 1.82 million yuan, a decrease of 29.87% [1]. - The gross margin was 25.58%, a decline of 1.61% year-on-year, while the net margin improved to 3.78%, an increase of 12.02% [1]. Expense Analysis - The total of financial, sales, and management expenses reached 19.86 million yuan, accounting for 15.59% of total revenue, which is a 30.62% increase year-on-year [1]. - The company’s cash assets are reported to be healthy, indicating a strong liquidity position [2]. Return on Investment - The company's Return on Invested Capital (ROIC) was 0.33% last year, with a historical median ROIC of 6.33% since its listing, indicating generally weak investment returns [2]. - The worst year for ROIC was 2023, which recorded -5.42%, suggesting significant challenges in generating returns on capital [2]. Business Model and Operational Insights - The company's performance is primarily driven by research and marketing efforts, necessitating a deeper examination of the underlying factors influencing these drivers [3]. - The accounts receivable situation is concerning, with accounts receivable to profit ratio reaching 1514.7%, indicating potential issues in cash flow management [3].

Group 1 - The company held its fifth supervisory board meeting on August 28, 2025, with all three supervisors present, complying with the Company Law and Articles of Association [1][2] - The supervisory board approved the 2025 semi-annual report, confirming that it accurately reflects the company's financial status, operational results, and cash flow for the reporting period [1][2] - The board also approved the special report on the storage and use of raised funds for the first half of 2025, stating that the management and use of these funds comply with relevant regulations [2][3] Group 2 - The supervisory board agreed to postpone certain fundraising investment projects, stating that this decision aligns with the actual implementation of the projects and will not adversely affect the company's financial status [2][3] - A proposal to abolish the supervisory board and amend the Articles of Association was approved, transferring supervisory functions to the audit committee of the board of directors [4][5] - The proposal to abolish the supervisory board requires approval at the company's first extraordinary general meeting in 2025 [5]

Core Viewpoint - The company has decided to postpone the expected completion dates for certain fundraising projects due to delays in the progress of fundraising and construction, while maintaining the original investment purposes and scales [3][4][11]. Fundraising Basic Situation - The company raised a total of approximately RMB 739.99 million through a non-public stock issuance, with a net amount of approximately RMB 730.15 million after deducting issuance costs [1]. Fundraising Usage Status - As of June 30, 2025, the total investment for the AI Video Big Data Platform project is approximately RMB 97.82 million, with RMB 73.02 million used and RMB 28.11 million remaining, indicating a usage rate of 61.50% [2]. Postponement Details - The expected completion dates for the "High-tech Video Service Platform Project" and "AI Video Big Data Platform Project" have been postponed from September 2025 to September 2027 due to delays in construction and market conditions [3][4]. Reasons for Postponement - The delays are attributed to cautious management regarding the purchase of R&D facilities in Shanghai and the need for resource integration with a newly established subsidiary in Hefei. Additionally, supply chain issues and evolving market demands have impacted the procurement of high-performance GPU servers necessary for the projects [3][4]. Measures to Ensure Project Completion - The company plans to closely monitor the progress of the fundraising projects, optimize resource allocation, strengthen coordination with suppliers, and enhance supervision and management of the projects to ensure effective use of funds [4]. Necessity and Feasibility of Projects - The projects align with the company's strategic planning and are deemed necessary and feasible, given the strong growth potential of China's digital economy and the government's support for digital transformation [5][10]. Impact of Postponement - The postponement is seen as a prudent decision that aligns with the company's operational status and future development needs, ensuring that the projects can be implemented smoothly without affecting the overall financial health of the company [11]. Sponsor Institution's Review Opinion - The sponsor institution has reviewed the postponement decision and found it compliant with relevant laws and regulations, confirming that it does not require shareholder approval [11].

Group 1: Cash Management Announcement - The company plans to utilize part of its idle self-owned funds for cash management by purchasing low-risk financial products to enhance fund efficiency and protect shareholder interests [3][4]. - The board approved the use of up to RMB 300 million for this purpose, allowing for rolling use of funds within a twelve-month period [5]. - The investment aims to achieve capital preservation and appreciation without affecting the company's normal operations [3]. Group 2: Cancellation of Supervisory Board - The company has decided to cancel its supervisory board and transfer its responsibilities to the audit committee in compliance with new regulations effective January 1, 2026 [11][12]. - The current supervisors will be relieved of their duties once the shareholders' meeting approves the cancellation [11]. - The company will continue to adhere to legal and regulatory requirements until the cancellation is formally approved [11]. Group 3: Amendments to Articles of Association - The company plans to amend its articles of association to reflect the cancellation of the supervisory board and to clarify the roles of controlling shareholders, independent directors, and board committees [13]. - The amendments require approval from shareholders, with a two-thirds majority needed for passage [13]. - The revised articles will be disclosed on the Shanghai Stock Exchange website [14].

Group 1 - The company, Wangda Software (SH 603189), announced on August 28 that its fifth board meeting was held in a hybrid format, discussing the proposal to cancel the supervisory board and amend the company's articles of association and management systems [1] - For the first half of 2025, Wangda Software's revenue composition was 95.49% from mobile internet and 4.51% from other sources [1] - As of the report date, Wangda Software's market capitalization was 6.2 billion yuan [1]

Group 1 - The company reported a revenue of 127 million yuan for the first half of 2025, representing a year-on-year decrease of 28.30% [1] - The net profit attributable to shareholders of the listed company was 4.82 million yuan, down 19.68% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.78 million yuan, showing a year-on-year increase of 6.23% [1] - The basic earnings per share were 0.02 yuan [1]

Group 1 - The core viewpoint of the article is that Wangda Software reported a decline in revenue and net profit for the first half of 2025 compared to the previous year [1] - The company achieved operating revenue of 127 million yuan, representing a year-on-year decrease of 28.30% [1] - The net profit attributable to shareholders of the listed company was 4.82 million yuan, down 19.68% year-on-year [1] Group 2 - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.78 million yuan, showing a year-on-year increase of 6.23% [1] - The basic earnings per share were reported at 0.02 yuan [1]

证券代码：603189 证券简称：网达软件 公告编号：2025-039 关于上海网达软件股份有限公司 使用部分闲置自有资金进行现金管理的进展公告 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： 基本情况 | 产品名称 | 利多多公司稳利 25JG3363 期（月月滚利特供 | | --- | --- | | | 款 B）人民币对公结构性存款 | | 受托方名称 | 上海浦东发展银行股份有限公司 | | 购买金额 | _5,000_万元 | | 产品期限 | 29 天 | | 特别风险提示（如有请勾选） | 其他：不适用 | | 产品名称 | 银河金利收益凭证 686 期 | | --- | --- | | 受托方名称 | 中国银河证券股份有限公司 | | 购买金额 | _5,000_万元 | | 产品期限 | 91 天 | | 特别风险提示（如有请勾选） | 其他：不适用 | | 产品名称 | 兴业证券兴动系列二元浮动收益凭证第 297 | | --- | --- | | | 期 | | 受托方名称 | 兴业证 ...

证券代码：603189 证券简称：网达软件 公告编号：2025-036 上海网达软件股份有限公司 2025 年半年度募集资金存放与实际使用情况专项报告 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。 一、募集资金基本情况 （二）募集资金使用和结余情况 公司本期使用募集资金 3,559,296.26 元，截至 2025 年 06 月 30 日止，公司对 募集资金项目累计投入募集资金 281,099,550.48 元，闲置募集资金购买理财产 品期末余额为 250,000,000.00 元，七天通知存款账户余额 0 元，募集资金专用账 户余额为 237,627,896.20 元，其中：本金为 199,054,006.89 元，银行利息收入扣除 手续费后的净额为 38,573,889.31 元。 （三）募集资金专户存储情况 截至 2025 年 06 月 30 日，募集资金具体存储情况如下： 单位：元 | 序 号 | 开户银行 | 银行账号 | 专户资金用途 | 余额 | | --- | --- | --- | --- | --- ...