Core Insights - Nanjing Jiahua Smart Software Technology Co., Ltd. has been established with a registered capital of 10 million yuan [1] - The company is fully owned by Jiahua Technology (603206) [1] Company Overview - The business scope includes artificial intelligence industry application system integration services, sales of artificial intelligence hardware, artificial intelligence public data platforms, general application systems for artificial intelligence, and development of artificial intelligence application software [1]

Market Overview - The Shanghai Composite Index closed at 3855.10 points, above the six-month moving average, with an increase of 1.12% [1] - The total trading volume of A-shares reached 14961.95 billion yuan [1] Stocks Breaking Six-Month Moving Average - A total of 118 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Xinxiangwei (688593) with a deviation rate of 18.44% and a price increase of 20.00% [1] - Fabon Information (300925) with a deviation rate of 11.71% and a price increase of 13.31% [1] - Aerospace Engineering (603698) with a deviation rate of 8.55% and a price increase of 10.01% [1] Additional Stocks with Minor Deviations - Stocks with smaller deviation rates that have just crossed the six-month moving average include: - Huatushan (300492) with a deviation rate of 8.31% and a price increase of 10.82% [1] - Leidi Technology (300652) with a deviation rate of 6.06% and a price increase of 8.27% [1] - Tianshan Electric (301379) with a deviation rate of 4.05% and a price increase of 4.14% [1]

Core Viewpoint - 嘉环科技's financial performance for the first half of 2025 shows a decline in both revenue and net profit compared to the previous year, indicating potential challenges in its business operations [1] Financial Performance Summary - Total revenue for the first half of 2025 was 1.92 billion yuan, a decrease of 6.41% year-on-year [1] - Net profit attributable to shareholders was 45.19 million yuan, down 26.38% year-on-year [1] - In Q2 2025, total revenue was 1.12 billion yuan, a decline of 4.88% year-on-year, with net profit of 24.98 million yuan, down 30.21% year-on-year [1] - The gross profit margin was 14.18%, an increase of 5.07% year-on-year, while the net profit margin was 2.37%, a decrease of 19.94% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 138 million yuan, accounting for 7.17% of revenue, an increase of 18.13% year-on-year [1] - Earnings per share decreased to 0.15 yuan, down 25.00% year-on-year [1] Cash Flow and Debt Analysis - The company reported a significant amount of accounts receivable, with accounts receivable to net profit ratio reaching 3488.25% [1][2] - Cash flow situation is concerning, with cash and cash equivalents at 235 million yuan, a decrease of 12.43% year-on-year [1] - The company has a high level of interest-bearing debt, which increased by 41.78% year-on-year to 1.704 billion yuan [1][2] Business Model Insights - The company's performance is primarily driven by research and marketing efforts, necessitating a closer examination of the underlying factors [2] - Historical return on invested capital (ROIC) was low at 3.23%, indicating weak capital returns [1][2] - The average operating cash flow over the past three years has been negative, raising concerns about financial sustainability [2]

Group 1 - The company held its 12th meeting of the second board on August 28, 2025, with all 7 directors present, including one participating via telecommunication [1] - The board approved the proposal for the 2025 semi-annual report in which all votes were in favor, with no opposition or abstentions [2] - The board also approved the special report on the storage and use of raised funds for the first half of 2025, with unanimous support [2] - The board approved the proposal for the provision of asset impairment for the first half of 2025, again with all votes in favor [3]

Group 1 - The company held its 12th meeting of the second Supervisory Board on August 28, 2025, with all three supervisors present, ensuring compliance with relevant laws and regulations [1] - The Supervisory Board approved the proposal regarding the 2025 semi-annual report, confirming that the report accurately reflects the company's actual situation and adheres to legal and regulatory requirements [1][2] - The Supervisory Board also approved the special report on the use of raised funds for the first half of 2025, indicating proper management of the funds [2] - The proposal for asset impairment provision for the first half of 2025 was approved, with the board stating that the provision aligns with accounting standards and accurately reflects the company's financial status [2]

公司于近日通过银行查询获悉上述被冻结的自有资金已解除冻结，现将相关 情况公告如下： 一、本次银行账户部分资金解除冻结的情况 因公司与北京星链南天科技有限公司（以下简称"星链南天"）产生了合同 纠纷，银行账户部分资金被星链南天申请财产保全而冻结。公司于近日获悉该部 分被冻结的账户资金已解除冻结，具体如下： | 账户名称 | 开户银行 | 银行账号 | 账户性质 | 解除冻结金额 | | --- | --- | --- | --- | --- | | | | | | （元） | | 嘉环科技股份有 限公司 | 招商银行股份 有限公司南京 | 99900******0902 | 一般户 | 20,500,000.00 | | | 解放路支行 | | | | 二、本次银行账户部分资金解除冻结对公司的影响 嘉环科技股份有限公司 关于公司银行账户部分资金被冻结的进展公告 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。 嘉环科技股份有限公司（以下简称"公司"）于2025年8月8日披露了公司在 招商银行开立的募集资金专户部分资金被冻结的情况， ...

Group 1 - The company, Jiahuan Technology, announced on August 29 that it will recognize an asset impairment provision totaling 14.57 million yuan for the first half of 2025, which will reduce the consolidated profit for that period by the same amount [1] - The amount of the asset impairment provision is unaudited and will be finalized based on the annual audit by the accounting firm [1] - For the year 2024, the company's revenue composition shows that 99.76% comes from communication technology services, while other businesses account for only 0.24% [1]

Group 1 - The company, Jiahuan Technology, announced the convening of its second session of the twelfth board meeting on August 28, 2025, to review the special report on the use of raised funds for the first half of 2025 [1] - For the year 2024, Jiahuan Technology's revenue composition shows that communication technology services accounted for 99.76%, while other businesses contributed 0.24% [1]

Group 1 - The core viewpoint of the article is that 嘉环科技 (Jiahua Technology) 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 1.92 billion yuan, representing a year-on-year decrease of 6.41% [1] - The net profit attributable to shareholders of the parent company was 45.19 million yuan, down 26.38% year-on-year [1] - The basic earnings per share were reported at 0.15 yuan [1]

证券代码：603206 证券简称：嘉环科技 公告编号：2025-046 嘉环科技股份有限公司 第二届监事会第十二次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 监事会会议召开情况 嘉环科技股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日以现场方式 召开了第二届监事会第十二次会议。公司于 2025 年 8 月 18 日以电子邮件及专人 等方式送达全体监事。本次会议应到监事 3 人，实到监事 3 人。会议由监事会主 席何伟主持。会议的召开符合《中华人民共和国公司法》和《公司章程》的有关 规定，会议决议合法有效。 二、 监事会会议审议情况 （一）审议通过《关于 2025 年半年度报告全文及摘要的议案》 该议案同意票数为 3 票，反对票数为 0 票，弃权票数为 0 票。 监事会认为：公司 2025 年半年度报告的编制和审核程序符合法律、行政法 规及中国证监会的相关规定，报告的内容能够真实、准确、完整地反映公司的实 际情况，未发现参与半年度报告编制和审议的人员有违反保密规定的行为。 （二）审议通过 ...