证券代码：603375 证券简称：盛景微 公告编号：2025-052 无锡盛景微电子股份有限公司 2025 年半年度募集资金存放与实际使用情况的 专项报告 采取了专户存储制度。 （二）募集资金使用及结余情况 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。 根据中国证券监督管理委员会《上市公司募集资金监管规则》《上海证券交 易所上市公司自律监管指引第1号——规范运作》《上海证券交易所上市公司自 律监管指南第1号——公告格式》等有关法律法规、规范性文件的规定，现将无 锡盛景微电子股份有限公司（以下简称"公司"或"本公司"）2025年半年度募 集资金存放与实际使用情况报告如下： 一、募集资金基本情况 （一）实际募集资金的金额、资金到账情况 根据中国证券监督管理委员会核发的《关于同意无锡盛景微电子股份有限公 司首次公开发行股票注册的批复》（证监许可[2023]1704号）并经上海证券交易 所同意，本公司首次向社会公众公开发行人民币普通股股票2,516.6667万股，每 股发行价格为人民币38.18元。截至2024年1月19日止，本公司 ...

一、公司经营范围的变更 证券代码：603375 证券简称：盛景微 公告编号：2025-053 无锡盛景微电子股份有限公司 关于公司变更经营范围暨修改公司章程的公告 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、准确性和完整性依法承担法律责任。 无锡盛景微电子股份有限公司（以下简称"公司"）于 2025 年 8 月 15 日召 开第二届董事会第十一次会议，审议通过《关于公司变更经营范围暨修改公司 章程的议案》。该议案尚需提交公司股东大会审议。现将相关情况公告如下： 除上述修订内容外，《公司章程》其他条款保持不变。 三、授权办理工商变更登记情况 本次公司变更经营范围暨修改《公司章程》事宜尚需提交公司股东大会审 议，董事会一并提请公司股东大会授权董事会及董事会授权人员办理上述事项 的工商登记变更事宜。上述变更最终以市场监督管理部门核准的内容为准。 特此公告。 无锡盛景微电子股份有限公司 董事会 变更前经营范围： 电子产品、电子模块、计算机软硬件、物联网技术开发、集成电路产品的 开发、销售、技术转让、技术咨询、技术服务。（依法须经批准的项目，经相关 部门批准后方 ...

证券代码：603375 证券简称：盛景微 公告编号：2025-054 无锡盛景微电子股份有限公司 关于召开2025年第三次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 4 日 14 点 30 分 召开地点：江苏省无锡市新吴区景贤路 6 号中国物联网国际创新园 H7 无锡 盛景微电子股份有限公司会议室 股东大会召开日期：2025年9月4日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 至2025 年 9 月 4 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联 网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及 ...

无锡盛景微电子股份有限公司 第二届监事会第九次会议决议公告 证券代码：603375 证券简称：盛景微 公告编号：2025-051 2.审议通过《关于公司 2025 年半年度募集资金存放与实际使用情况专项报 告的议案》 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 无锡盛景微电子股份有限公司（以下简称"公司"或"盛景微"）第二届监 事会第九次会议于 2025 年 8 月 15 日在公司会议室召开。本次会议召开的时间、 地点和审议事项已于 2025 年 8 月 5 日以书面方式通知了全体监事。本次会议应 出席的监事 3 名，实际出席会议的监事 3 名。本次会议由监事会主席李彦铭先 生召集并主持，会议采用现场表决方式召开。会议的召集、召开和表决程序符 合有关法律法规和《公司章程》的规定。 二、监事会会议审议情况 经与会监事投票表决，审议通过了如下议案： 1.审议通过《关于公司 2025 年半年度报告及其摘要的议案》 经审核，监事会认为董事会编制和审议 2025 年半年度报告全文及其摘要的 程序符合法律、 ...

证券代码：603375 证券简称：盛景微 公告编号：2025-050 无锡盛景微电子股份有限公司 第二届董事会第十一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 无锡盛景微电子股份有限公司（以下简称"公司"或"盛景微"）第二届 董事会第十一次会议于 2025 年 8 月 15 日在公司会议室召开。本次会议召开的 时间、地点和审议事项已于 2025 年 8 月 5 日以微信、电话、书面等方式通知了 全体董事。本次会议应出席的董事 5 名，实际出席会议的董事 5 名（其中：通 讯方式出席董事 4 人）。本次会议由董事长张永刚先生召集并主持，公司监事、 高管列席了会议。本次会议采用现场结合通讯表决的方式召开。会议的召集、 召开和表决程序符合有关法律法规和《公司章程》的规定。经各位董事认真审 议，会议形成了如下决议： 2.审议通过《关于公司 2025 年半年度募集资金存放与实际使用情况专项报 告的议案》 该议案已经公司董事会审计委员会审议通过。 具体内容详见公司披露于上海证券交易所网站（w ...

格隆汇8月18日丨盛景微(603375.SH)公布2025年半年度报告，报告期实现营业收入2.35亿元，同比增长 2.40%；归属于上市公司股东的净利润1437.78万元，同比增长57.66%；归属于上市公司股东的扣除非经 常性损益的净利润1109.11万元，同比增长66.16%；基本每股收益0.14元。 ...

Section 1 Definitions [Definitions of Common Terms](index=4&type=section&id=第一节%20释义) This chapter provides definitions of common terms used in the report, including company names, related parties, senior management, financial measurement units, and reporting periods, ensuring accurate interpretation of the report - The reporting period is defined as January 1, 2025, to June 30, 2025[13](index=13&type=chunk) Section 2 Company Profile and Key Financial Indicators [I. Company Information](index=4&type=section&id=第二节%20公司简介和主要财务指标) This section introduces the company's basic registration information, including its Chinese name, abbreviation, foreign name and its abbreviation, and legal representative - The company's Chinese name is Wuxi Shengjing Microelectronics Co., Ltd., abbreviated as Shengjing Micro, with Zhang Yonggang as the legal representative[15](index=15&type=chunk) [II. Contact Persons and Information](index=4&type=section&id=二%E3%80%81%20联系人和联系方式) This section provides contact information for the company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, faxes, and email addresses, for investor communication - The Board Secretary is Pan Xu, and the Securities Affairs Representative is Zhang Shanshan, both located at H7, China IoT International Innovation Park, No. 6 Jingxian Road, Xinwu District, Wuxi City[16](index=16&type=chunk) [III. Brief Introduction to Changes in Basic Information](index=5&type=section&id=三%E3%80%81%20基本情况变更简介) This section outlines the historical changes in the company's registered address and provides the current registered address, office address, postal code, company website, and email address - The company's registered address changed to H7, China IoT International Innovation Park, No. 6 Jingxian Road, Xinwu District, Wuxi City on January 17, 2023, and the company website is www.holyview.com[18](index=18&type=chunk) [IV. Brief Introduction to Changes in Information Disclosure and Document Custody Locations](index=5&type=section&id=四%E3%80%81%20信息披露及备置地点变更情况简介) This section lists the company's designated newspapers for information disclosure, the website address for semi-annual reports, and the location where the company's semi-annual reports are kept - Designated newspapers for information disclosure include "China Securities Journal", "Shanghai Securities News", "Securities Times", "Securities Daily", "Financial Times", "Economic Reference News", and the website is www.sse.com.cn[19](index=19&type=chunk) [V. Company Stock Overview](index=5&type=section&id=五%E3%80%81%20公司股票简况) This section provides basic information about the company's stock, including stock type, listing exchange, stock abbreviation, stock code, and previous stock abbreviation - The company's stock is A-shares, listed on the main board of the Shanghai Stock Exchange, stock abbreviation Shengjing Micro, stock code 603375, and the stock abbreviation has not changed[20](index=20&type=chunk) [VI. Other Relevant Information](index=5&type=section&id=六%E3%80%81%20其他有关资料) This section discloses information about the sponsor institution fulfilling continuous supervision duties during the reporting period, including its name, office address, names of signing sponsor representatives, and the continuous supervision period - The sponsor institution is Everbright Securities Co., Ltd., signing sponsor representatives are Huang Tengfei and Lin Jianyun, with a continuous supervision period from January 24, 2024, to December 31, 2026[21](index=21&type=chunk) [VII. Company's Key Accounting Data and Financial Indicators](index=5&type=section&id=七%E3%80%81%20公司主要会计数据和财务指标) This section summarizes the company's key accounting data and financial indicators for the first half of 2025, comparing them with the same period last year, showing a significant improvement in profitability 2025 H1 Key Accounting Data | Indicator | Current Reporting Period (Jan-Jun) (yuan) | Prior Year Same Period (yuan) | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 234,745,650.19 | 229,243,779.75 | 2.40 | | Total Profit | 16,529,119.34 | 6,441,518.93 | 156.60 | | Net Profit Attributable to Listed Company Shareholders | 14,377,841.78 | 9,119,671.11 | 57.66 | | Net Profit Attributable to Listed Company Shareholders After Deducting Non-recurring Gains and Losses | 11,091,142.47 | 6,674,829.98 | 66.16 | | Net Cash Flow from Operating Activities | 50,360,937.38 | -38,729,679.75 | Not Applicable | | Net Assets Attributable to Listed Company Shareholders (Period-end) | 1,573,714,202.08 | 1,572,817,571.52 | 0.06 | | Total Assets (Period-end) | 1,748,410,368.21 | 1,706,309,648.95 | 2.47 | 2025 H1 Key Financial Indicators | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Same Period | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.14 | 0.09 | 55.56 | | Basic Earnings Per Share After Deducting Non-recurring Gains and Losses (yuan/share) | 0.11 | 0.07 | 57.14 | | Weighted Average Return on Net Assets (%) | 0.91 | 0.63 | Increased by 0.28 percentage points | | Weighted Average Return on Net Assets After Deducting Non-recurring Gains and Losses (%) | 0.70 | 0.46 | Increased by 0.24 percentage points | - Total profit, net profit attributable to parent, and non-recurring net profit attributable to parent increased by **156.60%**, **57.66%**, and **66.16%** respectively, primarily due to increased product sales, refined expense control, and significant revenue growth from subsidiary Shanghai Xianji's signal chain products[24](index=24&type=chunk) [VIII. Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=6&type=section&id=八%E3%80%81%20境内外会计准则下会计数据差异) This section states that there are no differences in accounting data under domestic and overseas accounting standards for the company [IX. Non-recurring Gains and Losses Items and Amounts](index=6&type=section&id=九%E3%80%81%20非经常性损益项目和金额) This section lists the company's non-recurring gains and losses items and their amounts for the reporting period, totaling **3.29 million yuan** 2025 H1 Non-recurring Gains and Losses Items | Non-recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 1,703,870.67 | | Government grants recognized in profit or loss for the current period | 1,560,000.00 | | Gains or losses from entrusted investment or asset management | 4,988,603.64 | | Other non-operating income and expenses | -4,279,887.83 | | Other gains and losses that meet the definition of non-recurring gains and losses | 163,578.43 | | Less: Income tax impact | 354,029.38 | | Minority interest impact (after tax) | 495,436.22 | | **Total** | **3,286,699.31** | [X. Companies with Equity Incentive or Employee Stock Ownership Plans May Choose to Disclose Net Profit After Deducting Share-based Payment Impact](index=7&type=section&id=十%E3%80%81%20存在股权激励%E3%80%81员工持股计划的公司可选择披露扣除股份支付影响后的净利润) This section discloses the company's net profit after deducting the impact of share-based payments, showing a significant increase compared to the same period last year Net Profit After Deducting Share-based Payment Impact | Indicator | Current Reporting Period (Jan-Jun) (yuan) | Prior Year Same Period (yuan) | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Net profit after deducting share-based payment impact | 15,467,456.99 | 5,539,416.52 | 179.23 | [XI. Others](index=7&type=section&id=十一%E3%80%81%20其他) This section states that the company has no other matters requiring disclosure Section 3 Management Discussion and Analysis [I. Explanation of the Company's Industry and Main Business Operations During the Reporting Period](index=7&type=section&id=第三节%20管理层讨论与分析) This section details the company's main business, operating model, and industry situation, emphasizing its leading position in industrial safety electronic control modules and active expansion into new application areas [ (I) Company's Main Business](index=7&type=section&id=%EF%BC%88一%EF%BC%89公司所从事的主营业务) The company primarily designs high-performance, ultra-low-power chips, provides electronic control modules for industrial safety, and actively expands into new applications like geological exploration and oil extraction. Subsidiary Shanghai Xianji's signal chain product revenue significantly increased - The company is a national-level "specialized, refined, unique, and new" small giant enterprise, holding a CNAS laboratory accreditation certificate[31](index=31&type=chunk) - The company's electronic control module products are mainly categorized into general, enhanced, anti-vibration, high-end, coal mine permissible, and seismic exploration types[31](index=31&type=chunk) - Subsidiary Shanghai Xianji's main products are high-speed amplifiers and power management products, applied in industrial control, new energy, automotive, communication, and consumer electronics[31](index=31&type=chunk) [ (II) Main Operating Model](index=7&type=section&id=%EF%BC%88二%EF%BC%89主要经营模式) The company focuses on R&D and sales of electronic control modules, detonator controllers, and amplifiers, adopting an outsourced manufacturing model and maintaining stable cooperation with upstream and downstream partners. Subsidiary Shanghai Xianji primarily uses a distribution model - The company outsources wafer manufacturing, packaging, testing, and SMT assembly, while primarily handling the final assembly and testing of detonator controllers internally[33](index=33&type=chunk) - Subsidiary Shanghai Xianji primarily uses a distribution model to sell amplifiers and other products[33](index=33&type=chunk) [ (III) Industry Situation and Company Operations](index=8&type=section&id=%EF%BC%88三%EF%BC%89所处行业情况及公司经营情况) The company's main products serve the civil blasting industry, which operated steadily in the first half but faced intensified market competition. The company's electronic control module sales grew against the trend, and overall operating performance was stable - In the first half of 2025, the cumulative output of industrial detonators in the civil blasting industry decreased by **0.84%** year-on-year, while the company's main product, electronic control modules (including electronic control chips), increased by **5.29%** year-on-year[34](index=34&type=chunk) - The company achieved operating revenue of **234.7457 million yuan**, a year-on-year increase of **2.40%**; net profit attributable to shareholders of **14.3778 million yuan**, a year-on-year increase of **57.66%**[34](index=34&type=chunk) [II. Discussion and Analysis of Operations](index=8&type=section&id=二%E3%80%81经营情况的讨论与分析) During the reporting period, the company made significant progress in technology R&D, product innovation, and market expansion, achieving multiple breakthroughs in civil blasting and signal chain fields, and completing initial overseas market layout [ (I) Core Technology Breakthroughs, Innovation-Driven Development](index=8&type=section&id=%EF%BC%88一%EF%BC%89核心技术突破%EF%BC%8C创新驱动发展) The company focuses on high-end, intelligent, and green transformation in the civil blasting equipment industry, with decreased R&D expense ratio but improved efficiency, achieving key technological breakthroughs in wireless blasting, non-initiating explosive, high-temperature resistant perforating initiation, and high-performance chips - In the first half of 2025, the company's R&D expenses were **35.5581 million yuan**, accounting for **15.15%** of operating revenue, down from **18.93%** in the same period last year, mainly due to group R&D resource integration and cyclical fluctuations in project investment[35](index=35&type=chunk) - In wireless electronic detonator technology, the shallow-buried integrated electronic detonator achieved a breakthrough in through-ground technology, providing solutions for unmanned operations[35](index=35&type=chunk) - Subsidiary Shanghai Xianji's independently developed Sigma-Delta ADC technology, with its core advantages of low cost, low power consumption, and high-speed sampling, promotes large-scale application in industrial control and smart sensing[36](index=36&type=chunk) [ (II) Product Innovation Upgrade](index=9&type=section&id=%EF%BC%88二%EF%BC%89产品创新再升级) Leveraging fourth-generation electronic detonator control chip technology, the company comprehensively upgraded its initiation system, forming a full product line, and achieved productization of ultra-high temperature resistant module in oil and gas well perforating. Subsidiary Shanghai Xianji launched the LTD2532 chip for the high-end market - The company's fourth-generation electronic detonator control chip technology covers a full product line including coal mine permissible, anti-vibration, enhanced, general, and seismic exploration types[37](index=37&type=chunk) - In oil and gas well perforating, the **175℃** ultra-high temperature resistant perforating selective initiation integrated electronic control module was successfully productized, meeting the stringent requirements for ultra-high temperature and pressure downhole environments[37](index=37&type=chunk) - Subsidiary Shanghai Xianji launched the LTD2532 chip, a **24-bit** resolution, low-distortion dual-channel Σ-Δ ADC, applied in high-precision instruments and fast weighing equipment[38](index=38&type=chunk) [ (III) Civil Blasting Business Steady Expansion, Signal Chain Market Accelerates Breakthroughs](index=9&type=section&id=%EF%BC%88三%EF%BC%89民爆业务稳进拓新%EF%BC%8C信号链市场加速突破) The company continues to deepen strategic cooperation with leading enterprises in its core civil blasting business, consolidating its market position, and actively promotes the "chip + application solution" ecosystem plan, achieving significant expansion in the signal chain product market - The company strengthens supply chain advantages through technological synergy and resource integration, consolidating its leading position in the civil blasting sub-industry, with stable and increasing market sales[40](index=40&type=chunk) - The "chip + application solution" ecosystem plan is actively promoted in the signal chain product market, significantly enhancing its appeal to general industrial leading customers[40](index=40&type=chunk) [ (IV) Initial Achievements in Overseas Market Layout](index=10&type=section&id=%EF%BC%88四%EF%BC%89海外市场布局初见成效) The company accelerated its internationalization strategy, initially completing market access qualifications in key markets, establishing strategic partnerships with internationally renowned enterprises, and setting up an overseas subsidiary in the Middle East, marking a milestone in its global layout - The company has initially completed market access qualifications in key markets and established strategic partnerships with several internationally renowned enterprises[41](index=41&type=chunk) - The establishment of an overseas subsidiary in the Middle East marks a milestone in the global layout[41](index=41&type=chunk) - In the second half of 2025, the company will continue to advance R&D of wireless electronic detonators and safety detonator products, actively promote sensor applications, new energy vehicle product R&D, and expand into the low-altitude economy and anti-drone markets[41](index=41&type=chunk)[42](index=42&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=10&type=section&id=三%E3%80%81报告期内核心竞争力分析) The company continuously consolidates its leading position in industrial safety and lays a solid foundation for new business expansion, leveraging significant advantages in products, technology, quality management, customer resources, and industry chain resources [ (I) Product Advantages](index=10&type=section&id=%EF%BC%88一%EF%BC%89产品优势) The company's electronic control module products offer competitive advantages in safety, reliability, shock and interference resistance, and blasting efficiency, with fourth-generation platform products performing exceptionally well in harsh environments with extremely low failure rates - The company's electronic control module products can be applied in wide temperature environments from **-40℃** to **+85℃**, high overload shock, and electromagnetic interference environments[45](index=45&type=chunk) - The fourth-generation platform products, equipped with an original four-level safety protection redundant circuit design and millisecond-level self-test algorithm, maintain extremely low failure rates in Qinghai high-altitude mining areas and Xinjiang and Tibet's high-altitude, extremely low-temperature environments[45](index=45&type=chunk) [ (II) Technological Advantages](index=11&type=section&id=%EF%BC%88二%EF%BC%89技术优势) The company possesses core technologies such as high and low voltage ultra-low power chip design, master-slave cascading networks, and shock and interference resistance, and has established a CNAS laboratory, collaborating with universities and clients on basic scientific research to improve R&D efficiency and product yield - The company has built a product development platform based on core technologies, featuring ultra-low power consumption, large-scale networking capabilities, high shock resistance, and anti-interference[46](index=46&type=chunk) - Through CNAS laboratory construction, industry-university-research cooperation, and co-establishment of joint laboratories, the company has achieved research results in component failure mechanisms under blasting shock and PPM-level failure rate control theory[46](index=46&type=chunk) [ (III) Quality Management Advantages](index=11&type=section&id=%EF%BC%88三%EF%BC%89质量管理优势) The company has established a comprehensive ISO 9001 quality management system and strict full-process control mechanisms, ensuring high product quality and market competitiveness through continuous optimization of production processes, strengthened supply chain management, and customer-centric quality culture - The company is **ISO 9001** quality management system certified, introducing international advanced quality management tools to ensure high-standard quality requirements from chip design to packaging and testing[47](index=47&type=chunk) - The company has established a dedicated quality management department, equipped with advanced testing equipment and a professional technical team, actively responding to market demands and continuously improving product quality and service levels[47](index=47&type=chunk) [ (IV) Customer Resource Advantages](index=11&type=section&id=%EF%BC%88四%EF%BC%89客户资源优势) The company has built a strong market reputation and brand awareness in the civil blasting industry with its highly safe, reliable, and high-quality products, establishing long-term stable cooperative relationships with over **80%** of well-known domestic enterprises - The company has established long-term stable cooperative relationships with over **80%** of well-known domestic civil blasting market enterprises, maintaining a leading position in customer recognition[48](index=48&type=chunk) [ (V) Industry Chain Resource Advantages](index=11&type=section&id=%EF%BC%88五%EF%BC%89产业链资源优势) Through close cooperation with upstream and downstream enterprises, the company has built an efficient and collaborative industrial ecosystem, establishing stable partnerships with global leading wafer foundries and packaging and testing enterprises, and deep cooperation with numerous well-known terminal manufacturers, enhancing production efficiency and market competitiveness - The company has established long-term stable cooperation with global leading wafer foundries and packaging and testing enterprises upstream, and deep cooperation with numerous well-known terminal manufacturers and system integrators downstream[50](index=50&type=chunk) - The company actively deploys key links in the semiconductor industry chain, consolidating its core position through investment and technological cooperation, and participating in industry standard setting and ecosystem building[50](index=50&type=chunk) [IV. Main Operating Performance During the Reporting Period](index=12&type=section&id=四%E3%80%81报告期内主要经营情况) This section analyzes the company's financial statement item changes, asset and liability situation, investment status, and operating performance of major holding and participating subsidiaries during the reporting period, revealing specific achievements in financial management and business expansion [ (I) Main Business Analysis](index=12&type=section&id=%28一%29%20主营业务分析) This section analyzes the changes in the company's operating revenue, costs, various expenses, and net cash flow through financial statement item variations, primarily due to increased revenue from subsidiary signal chain products and refined expense control Financial Statement Related Item Change Analysis | Item | Current Period Amount (yuan) | Prior Year Same Period Amount (yuan) | Change Ratio (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 234,745,650.19 | 229,243,779.75 | 2.40 | | Operating Cost | 153,563,464.56 | 145,659,688.03 | 5.43 | | Selling Expenses | 18,350,592.05 | 19,589,762.77 | -6.33 | | Administrative Expenses | 15,152,928.02 | 18,638,113.52 | -18.70 | | Financial Expenses | -255,129.42 | -1,670,485.72 | Not Applicable | | R&D Expenses | 35,558,135.75 | 43,387,322.35 | -18.04 | | Net Cash Flow from Operating Activities | 50,360,937.38 | -38,729,679.75 | Not Applicable | | Net Cash Flow from Investing Activities | -229,098,825.95 | -596,836,303.07 | Not Applicable | | Net Cash Flow from Financing Activities | 29,848,981.54 | 865,573,690.36 | -96.55 | - Operating revenue growth is mainly due to increased revenue from subsidiary Shanghai Xianji's signal chain products[52](index=52&type=chunk) - Decreases in selling, general and administrative, and R&D expenses are mainly due to the company's implementation of refined expense control[53](index=53&type=chunk) [ (II) Explanation of Significant Profit Changes Caused by Non-Core Businesses](index=13&type=section&id=%28二%29%20非主营业务导致利润重大变化的说明) This section states that there were no significant profit changes caused by non-core businesses during the reporting period [ (III) Analysis of Assets and Liabilities](index=13&type=section&id=%28三%29%20资产%E3%80%81负债情况分析) This section details the changes in the company's assets and liabilities at the end of the period, including increases and decreases in major items such as cash and cash equivalents, trading financial assets, notes receivable, and short-term borrowings, along with their reasons, and discloses overseas asset information Changes in Assets and Liabilities | Item Name | Current Period End Amount (yuan) | Current Period End % of Total Assets | Prior Year End Amount (yuan) | Prior Year End % of Total Assets | Current Period End vs. Prior Year End Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 182,611,719.23 | 10.44 | 331,497,251.19 | 19.43 | -44.91 | | Trading Financial Assets | 607,363,283.79 | 34.74 | 372,455,957.18 | 21.83 | 63.07 | | Notes Receivable | 57,876,815.22 | 3.31 | 112,443,561.93 | 6.59 | -48.53 | | Short-term Borrowings | 26,019,420.09 | 1.49 | 2,000,958.33 | 0.12 | 1,200.35 | | Other Payables | 15,437,090.55 | 0.88 | 937,957.26 | 0.05 | 1,545.82 | | Long-term Borrowings | 9,977,000.00 | 0.57 | - | - | Not Applicable | - Decrease in cash and cash equivalents and increase in trading financial assets are mainly due to the company's cash management and entrusted wealth management using raised funds and own funds[56](index=56&type=chunk)[57](index=57&type=chunk) - Increase in short-term and long-term borrowings is mainly due to new bank borrowings by subsidiaries to supplement operating funds and new long-term borrowings for share repurchases this period[57](index=57&type=chunk) - Overseas assets amounted to **0.09 million yuan**, accounting for **0.01%** of total assets[59](index=59&type=chunk) [ (IV) Investment Status Analysis](index=14&type=section&id=%28四%29%20投资状况分析) This section outlines the company's external equity investments during the reporting period, including the establishment of several new wholly-owned and controlled subsidiaries, and an investment in Wuxi Juheda Sensing Technology Co., Ltd., also disclosing financial assets measured at fair value - The company established wholly-owned subsidiaries Shengjing Micro Investment Development (Wuxi) Co., Ltd., Shengjing Investment Development Co., Ltd., and Shengjing Technology Development Co., Ltd[61](index=61&type=chunk) - The company established a controlled subsidiary Sohar International Explosives Company LLC in the Sultanate of Oman, holding **80%** equity[61](index=61&type=chunk) Financial Assets Measured at Fair Value | Asset Category | Beginning of Period Amount (yuan) | Current Period Fair Value Change Gain/Loss (yuan) | Current Period Purchase Amount (yuan) | Current Period Sale/Redemption Amount (yuan) | End of Period Amount (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 372,455,957.18 | 5,950,558.01 | 1,279,518,361.12 | 1,050,638,382.26 | 607,363,283.79 | | Notes Receivable Financing | 81,378,467.10 | - | - | - | 40,990,340.97 | | **Total** | **453,834,424.28** | **5,950,558.01** | **1,279,518,361.12** | **1,050,638,382.26** | **648,353,624.76** | [ (V) Significant Asset and Equity Sales](index=16&type=section&id=%28五%29%20重大资产和股权出售) This section states that there were no significant asset and equity sales during the reporting period [ (VI) Analysis of Major Holding and Participating Subsidiaries](index=16&type=section&id=%28六%29%20主要控股参股公司分析) This section analyzes the operating performance of the company's major holding and participating subsidiaries, particularly the significant growth in operating revenue and net profit of subsidiary Shanghai Xianji Integrated Circuit Co., Ltd., turning losses into profits Operating Performance of Major Holding and Participating Subsidiaries (Jan-Jun 2025) | Company Name | Company Type | Main Business | Operating Revenue (ten thousand yuan) | Operating Profit (ten thousand yuan) | Net Profit (ten thousand yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Xianji | Subsidiary | R&D, design, and sales of signal chain analog chips | 5,142.51 | 409.35 | 418.74 | | Weina Core | Subsidiary | Engineering and technical research and experimental development | 513.72 | -256.55 | -378.45 | | Shengzexin | Subsidiary | Integrated circuit design, sales | 2,704.5 | 667.79 | 614.24 | - Shanghai Xianji Integrated Circuit Co., Ltd. achieved operating revenue of **51.4251 million yuan** in Jan-Jun 2025, a year-on-year increase of **143.38%**, and net profit of **4.1874 million yuan**, turning losses into profits, mainly due to a significant increase in signal chain product sales[67](index=67&type=chunk) [ (VII) Information on Structured Entities Controlled by the Company](index=17&type=section&id=%28七%29%20公司控制的结构化主体情况) This section states that the company has no structured entities under its control [V. Other Disclosure Matters](index=18&type=section&id=五%E3%80%81其他披露事项) This section discloses potential risks faced by the company, including performance fluctuations, internationalization process, failure to expand into new application areas, accounts receivable collection, and inventory impairment risks, emphasizing the importance of risk management [ (I) Potential Risks](index=18&type=section&id=%28一%29%20可能面对的风险) The company faces risks of performance fluctuations due to intensified competition in the civil blasting market, legal, regulatory, cultural, competitive, exchange rate, and geopolitical risks in its internationalization process, and risks of core technology expansion failure in new application areas - Competition in the domestic blasting electronic control module market is intensifying, and the industry is in a cyclical adjustment phase, which may lead to a decline in the company's market share and performance fluctuations[69](index=69&type=chunk) - The internationalization process faces multiple challenges including trade policies, tax systems, intellectual property protection, cultural differences, exchange rate fluctuations, supply chain management, and geopolitical factors[69](index=69&type=chunk) - The company's core technology is primarily applied in the civil blasting field, and expansion into new application areas has uncertainties; if market development falls short of expectations, it will affect performance growth[69](index=69&type=chunk) - As of the end of the reporting period, accounts receivable amounted to **406.8603 million yuan**, accounting for **26.01%** of current assets, posing risks of customer payment difficulties or delayed payments[70](index=70&type=chunk) - As of the end of the reporting period, inventory book value was **227.5615 million yuan**, accounting for **14.55%** of current assets, posing risks of impairment due to unfavorable changes in market demand or improper inventory management[70](index=70&type=chunk) [ (II) Other Disclosure Matters](index=18&type=section&id=%28二%29%20其他披露事项) This section states that the company has no other matters requiring disclosure Section 4 Corporate Governance, Environment and Society [I. Changes in Directors, Supervisors, and Senior Management](index=19&type=section&id=第四节%20公司治理%E3%80%81环境和社会) This section states that there were no changes in the company's directors, supervisors, and senior management during the reporting period [II. Profit Distribution or Capital Reserve Conversion Plan](index=19&type=section&id=二%E3%80%81利润分配或资本公积金转增预案) This section states that the company has no semi-annual profit distribution plan or capital reserve conversion to share capital plan - The company's proposed semi-annual profit distribution or capital reserve conversion to share capital plan is "No"[73](index=73&type=chunk) [III. Information on the Company's Equity Incentive Plan, Employee Stock Ownership Plan, or Other Employee Incentive Measures and Their Impact](index=19&type=section&id=三%E3%80%81公司股权激励计划%E3%80%81员工持股计划或其他员工激励措施的情况及其影响) This section states that there were no progress or changes in the company's equity incentive plan, employee stock ownership plan, or other employee incentive measures during the reporting period [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law](index=19&type=section&id=四%E3%80%81纳入环境信息依法披露企业名单的上市公司及其主要子公司的环境信息情况) This section states that the company is not included in the list of enterprises required to disclose environmental information by law [V. Specific Information on Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, and Other Work](index=19&type=section&id=五%E3%80%81巩固拓展脱贫攻坚成果%E3%80%81乡村振兴等工作具体情况) This section states that the company has no specific information on consolidating and expanding poverty alleviation achievements, rural revitalization, or other related work Section 5 Significant Matters [I. Fulfillment of Commitments](index=20&type=section&id=第五节%20重要事项) This section details the fulfillment of commitments made by the company's actual controller, shareholders, related parties, and the company itself regarding share lock-up, share price stabilization, share repurchase, fraudulent issuance repurchase, immediate return filling, profit distribution policy, and legal liability for compensation, all commitments being strictly fulfilled - Controlling shareholder and actual controller Zhang Yonggang and his spouse Yin Ting committed not to transfer shares within **36 months** from the company's listing date and to comply with rules such as a reduction price not lower than the issue price[76](index=76&type=chunk) - The company committed to initiating share repurchase, actual controller increasing holdings, and directors/supervisors/senior management increasing holdings to stabilize share price if the stock's closing price falls below net asset per share within **3 years** after listing[93](index=93&type=chunk)[94](index=94&type=chunk) - The company, controlling shareholder, and shareholders holding **5%** or more of shares committed to repurchasing shares issued in the initial public offering if the prospectus contains false records, misleading statements, or major omissions[105](index=105&type=chunk)[106](index=106&type=chunk)[107](index=107&type=chunk) - All parties involved in the commitments stated that they have strictly fulfilled their commitments, with no unfulfilled situations[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk)[89](index=89&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk)[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk)[105](index=105&type=chunk)[106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk)[118](index=118&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk)[121](index=121&type=chunk)[122](index=122&type=chunk)[123](index=123&type=chunk)[124](index=124&type=chunk)[125](index=125&type=chunk)[126](index=126&type=chunk)[127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk)[130](index=130&type=chunk)[131](index=131&type=chunk)[132](index=132&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties During the Reporting Period](index=76&type=section&id=二%E3%80%81报告期内控股股东及其他关联方非经营性占用资金情况) This section states that there was no non-operating fund occupation by controlling shareholders and other related parties during the reporting period [III. Irregular Guarantees](index=76&type=section&id=三%E3%80%81违规担保情况) This section states that there were no irregular guarantees during the reporting period [IV. Semi-Annual Report Audit Status](index=77&type=section&id=四%E3%80%81半年报审计情况) This section states that the company's semi-annual report was not audited - This semi-annual report has not been audited[6](index=6&type=chunk) [V. Changes and Handling of Matters Involving Non-Standard Audit Opinions in the Previous Year's Annual Report](index=77&type=section&id=五%E3%80%81上年年度报告非标准审计意见涉及事项的变化及处理情况) This section states that there were no matters involving non-standard audit opinions in the company's previous year's annual report [VI. Bankruptcy Reorganization Related Matters](index=77&type=section&id=六%E3%80%81破产重整相关事项) This section states that there were no bankruptcy reorganization related matters during the reporting period [VII. Significant Litigation and Arbitration Matters](index=77&type=section&id=七%E3%80%81重大诉讼%E3%80%81仲裁事项) This section states that there were no significant litigation or arbitration matters during the reporting period [VIII. Listed Company and Its Directors, Supervisors, Senior Management, Controlling Shareholders, Actual Controllers Suspected of Violations, Penalties, and Rectification](index=77&type=section&id=八%E3%80%81上市公司及其董事%E3%80%81监事%E3%80%81高级管理人员%E3%80%81控股股东%E3%80%81实际控制人涉嫌违法违规%E3%80%81受到处罚及整改情况) This section states that there were no suspected violations, penalties, or rectification situations involving the company, its directors, supervisors, senior management, controlling shareholders, or actual controllers during the reporting period [IX. Explanation of the Integrity Status of the Company, Its Controlling Shareholders, and Actual Controllers During the Reporting Period](index=77&type=section&id=九%E3%80%81报告期内公司及其控股股东%E3%80%81实际控制人诚信状况的说明) This section states that the company, its controlling shareholders, and actual controllers maintained good integrity during the reporting period, with no unfulfilled court judgments or significant overdue debts - During the reporting period, the company and its controlling shareholders and actual controllers maintained good integrity, with no unfulfilled court judgments or significant overdue debts[134](index=134&type=chunk) [X. Significant Related Party Transactions](index=77&type=section&id=十%E3%80%81重大关联交易) This section discloses the progress of the company's proposed external investment and related party transaction with its wholly-owned subsidiary Weina Core, where Weina Core intends to invest in Wuxi Juheda Sensing Technology Co., Ltd., but part of the investment is still pending approval - The company's subsidiary Weina Core plans to invest **4 million yuan** with a venture capital fund to jointly increase capital and participate in Wuxi Juheda Sensing Technology Co., Ltd., with Weina Core holding **11.43%** equity[136](index=136&type=chunk) - As of July 12, 2025, Weina Core, Wuxi Julan, and Wuxi Taihu Talent have signed the capital increase agreement, but the related investment by Wuxi Xintou is still pending approval from higher authorities, with uncertainties[137](index=137&type=chunk) [XI. Significant Contracts and Their Fulfillment](index=78&type=section&id=十一%E3%80%81重大合同及其履行情况) This section states that the company had no entrustment, contracting, leasing matters, or other significant contracts during the reporting period, but there were guarantees for subsidiaries, with the total guarantee amount accounting for a low proportion of net assets Company Guarantee Total Amount (Including Guarantees for Subsidiaries) | Indicator | Amount (ten thousand yuan) | | :--- | :--- | | Total guarantee amount for subsidiaries incurred during the reporting period | 1,000.00 | | Total guarantee balance for subsidiaries at the end of the reporting period (B) | 1,000.00 | | Total guarantee amount (A+B) | 1,000.00 | | Total guarantee amount as a percentage of the company's net assets (%) | 0.64% | [XII. Explanation of Progress in Use of Raised Funds](index=80&type=section&id=十二%E3%80%81募集资金使用进展说明) This section details the overall use of the company's raised funds, specifics of investment projects and their delays, and cash management of idle raised funds, indicating project delays due to site construction and market demand changes Overall Use of Raised Funds | Source of Raised Funds | Net Raised Funds (1) | Total Committed Investment Amount in Prospectus or Offering Document (2) | Cumulative Raised Funds Invested as of Reporting Period End (4) | Amount Invested This Year (8) | Cumulative Investment Progress (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering of Shares | 960,863,346.06 | 864,084,244.88 | 348,418,785.14 | 55,417,630.40 | 40.32 | | **Total** | **960,863,346.06** | **864,084,244.88** | **348,418,785.14** | **55,417,630.40** | **/** | - The "Module R&D and Industrialization Project Delay" and "R&D Center Construction Project" extended their expected usable status to March 2027, mainly due to slower-than-expected site construction, later arrival of raised funds, and changes in market demand for full electronic detonator replacement in the industry[143](index=143&type=chunk)[150](index=150&type=chunk) - The company used **101.68 million yuan** of raised funds to replace self-raised funds previously invested in fundraising projects and already paid issuance expenses[148](index=148&type=chunk) - The company conducted cash management with idle raised funds, investing in related products, with an end-of-period cash management balance of **450 million yuan**, not exceeding the authorized limit[150](index=150&type=chunk) [XIII. Explanation of Other Significant Matters](index=85&type=section&id=十三%E3%80%81其他重大事项的说明) This section states that the company has no other significant matters requiring disclosure Section 6 Share Changes and Shareholder Information [I. Share Capital Changes](index=85&type=section&id=第六节%20股份变动及股东情况) This section details the company's share capital changes during the reporting period, primarily due to the listing and circulation of some restricted shares and strategically placed restricted shares, leading to a decrease in restricted shares and an increase in unrestricted tradable shares Share Change Table | Share Type | Number Before This Change (shares) | Percentage Before This Change (%) | Net Increase/Decrease in This Change (shares) | Number After This Change (shares) | Percentage After This Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 80,533,333 | 80.00 | -34,056,284 | 46,477,049 | 46.17 | | Of which: Shares held by domestic non-state-owned legal persons | 42,216,945 | 41.94 | -33,509,428 | 8,707,517 | 8.65 | | Shares held by domestic natural persons | 38,316,388 | 38.06 | -546,856 | 37,769,532 | 37.52 | | II. Unrestricted Tradable Shares | 20,133,334 | 20.00 | 34,056,284 | 54,189,618 | 53.83 | | Of which: RMB Ordinary Shares | 20,133,334 | 20.00 | 34,056,284 | 54,189,618 | 53.83 | | III. Total Shares | 100,666,667 | 100 | 0 | 100,666,667 | 100 | - Some restricted shares and all strategically placed restricted shares from the company's initial public offering were listed and circulated on January 24, 2025, totaling **34,056,284 shares**[156](index=156&type=chunk) Restricted Share Change Status | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released During Reporting Period (shares) | Restricted Shares at End of Reporting Period (shares) | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Zhang Yonggang | 28,178,221 | 0 | 28,178,221 | IPO Restriction | July 24, 2027 | | Shenzhen Fuhai Xinyuan Equity Investment Fund Management Enterprise (Limited Partnership) - Shenzhen Fuhai Xincai Phase II Venture Capital Fund Partnership (Limited Partnership) | 20,250,004 | 20,250,004 | 0 | IPO Restriction | January 24, 2025 | | Wuxi Jiu'anxin Electronic Technology Partnership (Limited Partnership) | 8,707,517 | 0 | 8,707,517 | IPO Restriction | July 24, 2027 | | CITIC Securities Investment Fund - Nanjing Bank - CITIC Securities Investment Fund - Gongying No. 30 Employee Strategic Placement Collective Asset Management Plan | 2,516,666 | 2,516,666 | 0 | IPO Restriction | January 24, 2025 | [II. Shareholder Information](index=88&type=section&id=二%E3%80%81股东情况) This section discloses the total number of shareholders, the top ten shareholders, and the top ten unrestricted tradable share shareholders as of the end of the reporting period, and explains the related party relationships among major shareholders - As of the end of the reporting period, the total number of common shareholders was **15,569**[160](index=160&type=chunk) Top Ten Shareholders' Shareholding as of the End of the Reporting Period | Shareholder Name | Shares Held at Period End (shares) | Percentage (%) | Number of Restricted Shares Held (shares) | Share Status | | :--- | :--- | :--- | :--- | :--- | | Zhang Yonggang | 28,178,221 | 27.99 | 28,178,221 | None | | Shenzhen Fuhai Xinyuan Equity Investment Fund Management Enterprise (Limited Partnership) - Shenzhen Fuhai Xincai Phase II Venture Capital Fund Partnership (Limited Partnership) | 20,250,004 | 20.12 | 0 | None | | Wuxi Jiu'anxin Electronic Technology Partnership (Limited Partnership) | 8,707,517 | 8.65 | 8,707,517 | None | | Zhao Xianfeng | 4,903,846 | 4.87 | 4,903,846 | None | | Pan Xu | 4,687,465 | 4.66 | 4,687,465 | None | - Zhang Yonggang is the executive partner of Wuxi Jiu'anxin and holds **10.00%** of its capital contribution; Yin Ting is Zhang Yonggang's spouse and holds **46.0095%** of Wuxi Jiu'anxin's capital contribution; Pan Xu is a limited partner of Wuxi Jiu'anxin[163](index=163&type=chunk) [III. Information on Directors, Supervisors, and Senior Management](index=91&type=section&id=三%E3%80%81董事%E3%80%81监事和高级管理人员情况) This section states that there were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, nor any equity incentive situations [IV. Changes in Controlling Shareholder or Actual Controller](index=91&type=section&id=四%E3%80%81控股股东或实际控制人变更情况) This section states that there were no changes in the controlling shareholder or actual controller during the reporting period [V. Preferred Share Related Information](index=91&type=section&id=五%E3%80%81优先股相关情况) This section states that the company has no preferred share related information Section 7 Bond Related Information [I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=92&type=section&id=第七节%20债券相关情况) This section states that the company has no corporate bonds or non-financial enterprise debt financing instruments [II. Convertible Corporate Bonds](index=92&type=section&id=二%E3%80%81可转换公司债券情况) This section states that the company has no convertible corporate bonds Section 8 Financial Report [I. Audit Report](index=93&type=section&id=第八节%20财务报告) This section states that the company's semi-annual report was not audited - This semi-annual report has not been audited[6](index=6&type=chunk) [II. Financial Statements](index=93&type=section&id=二%E3%80%81财务报表) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the company's financial position and operating results Major Data from Consolidated Balance Sheet (June 30, 2025) | Item | June 30, 2025 (yuan) | December 31, 2024 (yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 182,611,719.23 | 331,497,251.19 | | Trading Financial Assets | 607,363,283.79 | 372,455,957.18 | | Accounts Receivable | 406,860,276.89 | 354,747,828.73 | | Inventories | 227,561,481.17 | 219,050,483.59 | | Total Assets | 1,748,410,368.21 | 1,706,309,648.95 | | Short-term Borrowings | 26,019,420.09 | 2,000,958.33 | | Accounts Payable | 103,887,915.36 | 82,207,079.14 | | Total Liabilities | 193,692,504.75 | 153,604,557.56 | | Total Owners' Equity Attributable to Parent Company | 1,573,714,202.08 | 1,572,817,571.52 | Major Data from Consolidated Income Statement (Jan-Jun 2025) | Item | 2025 Half-Year (yuan) | 2024 Half-Year (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 234,745,650.19 | 229,243,779.75 | | Total Operating Costs | 223,543,121.02 | 225,896,100.63 | | Operating Profit | 20,809,007.17 | 6,666,086.09 | | Total Profit | 16,529,119.34 | 6,441,518.93 | | Net Profit | 15,493,983.29 | 4,601,649.07 | | Net Profit Attributable to Parent Company Shareholders | 14,377,841.78 | 9,119,671.11 | | Basic Earnings Per Share (yuan/share) | 0.14 | 0.09 | Major Data from Consolidated Cash Flow Statement (Jan-Jun 2025) | Item | 2025 Half-Year (yuan) | 2024 Half-Year (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 50,360,937.38 | -38,729,679.75 | | Net Cash Flow from Investing Activities | -229,098,825.95 | -596,836,303.07 | | Net Cash Flow from Financing Activities | 29,848,981.54 | 865,573,690.36 | | Net Increase in Cash and Cash Equivalents | -148,885,531.96 | 230,007,707.54 | | Cash and Cash Equivalents at End of Period | 182,611,719.23 | 292,669,443.47 | [III. Company Basic Information](index=113&type=section&id=三%E3%80%81公司基本情况) This section introduces the company's overview, including registered capital, registered address, legal representative, main business activities and products, and explains changes in the company's registered capital - The company's registered capital is **100.666667 million yuan**, and the legal representative is Zhang Yonggang[204](index=204&type=chunk) - The company's main business activities include the development, production, and sales of electronic control modules, detonator controllers, and amplifiers[204](index=204&type=chunk) - In January 2024, the company initially issued **25.166667 million ordinary shares**, increasing its registered capital to **100.666667 million yuan**[204](index=204&type=chunk) [IV. Basis of Financial Statement Preparation](index=113&type=section&id=四%E3%80%81财务报表的编制基础) This section explains the basis for preparing the company's financial statements, which is a going concern, adhering to enterprise accounting standards and their application guidelines and interpretations, and disclosing financial information in accordance with relevant CSRC regulations - The company prepares its financial statements on a going concern basis, adhering to enterprise accounting standards and the China Securities Regulatory Commission's "Information Disclosure Rules for Companies Issuing Securities to the Public No. 15 - General Provisions for Financial Reports (Revised 2023)"[205](index=205&type=chunk) - The company assessed its going concern ability for **12 months** from the end of the reporting period and found no matters affecting its going concern ability[206](index=206&type=chunk) [V. Significant Accounting Policies and Estimates](index=113&type=section&id=五%E3%80%81重要会计政策及会计估计) This section elaborates on the company's statement of compliance with enterprise accounting standards, accounting period, operating cycle, functional currency, materiality criteria, business combinations, consolidated financial statement preparation, financial instruments, inventories, revenue recognition, government grants, deferred income tax, leases, and other significant accounting policies and estimates, as well as changes in accounting policies for the current period - The company's accounting year runs from January 1 to December 31, and the actual preparation period for these financial statements is from January 1, 2025, to June 30, 2025[209](index=209&type=chunk) - At initial recognition, the company classifies financial assets as measured at amortized cost, fair value through profit or loss, or fair value through other comprehensive income, based on the business model for managing financial assets and their contractual cash flow characteristics[229](index=229&type=chunk) - The company recognizes revenue when it satisfies a performance obligation in the contract, which is when the customer obtains control of the related goods[298](index=298&type=chunk) - The company implemented the provisions of "Interpretation No. 17 of Enterprise Accounting Standards" and "Compilation of Enterprise Accounting Standards Application Guidelines 2024" regarding the inclusion of guarantee-type warranty expenses in operating costs starting from January 1, 2024, with no significant impact on the financial statements for the reporting period[320](index=320&type=chunk) [VI. Taxation](index=140&type=section&id=六%E3%80%81税项) This section discloses the company's main tax categories and rates, including VAT, urban maintenance and construction tax, and corporate income tax, and details the tax preferential policies for the company and its subsidiaries Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable income | 6.00%, 13.00% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7.00%, 5.00% | | Corporate Income Tax | Taxable income | 20.00%, 15.00%, 16.50% | | Education Surcharge and Local Education Surcharge | Amount of turnover tax payable | 5.00% | | Property Tax | For value-based assessment, 1.2% of the remaining value after a one-time deduction of 30% from the original value of the property; for rent-based assessment, 12% of rental income | 1.20%, 12.00% | - The company and its subsidiaries Shanghai Xianji and Weina Core enjoy a **15%** corporate income tax preferential rate as high-tech enterprises[324](index=324&type=chunk) - Subsidiaries Shengzexin, Shenyang Dingxin, and Shengjing Micro Investment Development (Wuxi) Co., Ltd., as small and micro-profit enterprises, are subject to a **20%** corporate income tax rate for 2025, and enjoy a **25%** reduction in taxable income[326](index=326&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=141&type=section&id=七%E3%80%81合并财务报表项目注释) This section provides detailed notes on various assets, liabilities, owners' equity, income, expenses, and other items in the consolidated financial statements, including end-of-period balances, beginning-of-period balances, current period changes, and reasons for changes, offering detailed information on the company's financial position and operating results Changes in Cash and Cash Equivalents | Item | End of Period Balance (yuan) | Beginning of Period Balance (yuan) | | :--- | :--- | :--- | | Cash on hand | 35,456.81 | 34,556.81 | | Bank deposits | 182,576,262.42 | 331,462,694.38 | | **Total** | **182,611,719.23** | **331,497,251.19** | | Of which: Total funds deposited overseas | 89,410.91 | - | - End-of-period cash and cash equivalents decreased by **44.91%** compared to the beginning of the period, mainly due to the company's increased purchases of wealth management products and large-denomination certificates of deposit[328](index=328&type=chunk) Composition of Trading Financial Assets | Item | End of Period Balance (yuan) | Beginning of Period Balance (yuan) | | :--- | :--- | :--- | | Structured deposits | 300,403,125.01 | 311,535,527.78 | | Negotiable large-denomination certificates of deposit | 233,596,408.78 | 40,920,429.40 | | Wealth management products | 73,363,750.00 | 20,000,000.00 | | **Total** | **607,363,283.79** | **372,455,957.18** | Classification of Notes Receivable | Item | End of Period Balance (yuan) | Beginning of Period Balance (yuan) | | :--- | :--- | :--- | | Bank acceptance bills | 43,993,727.92 | 83,771,809.71 | | Supply chain bills | 13,645,167.30 | 22,930,292.21 | | Commercial acceptance bills | 237,920.00 | 5,741,460.01 | | **Total** | **57,876,815.22** | **112,443,561.93** | Aging Distribution of Accounts Receivable | Aging | End of Period Book Balance (yuan) | Beginning of Period Book Balance (yuan) | | :--- | :--- | :--- | | Within 1 year (inclusive) | 379,609,532.76 | 312,728,948.41 | | 1 to 2 years | 51,299,811.99 | 63,993,264.19 | | 2 to 3 years | 87,700.00 | 87,700.00 | | **Total** | **430,997,044.75** | **376,809,912.60** | Operating Revenue and Operating Cost | Item | Current Period Revenue (yuan) | Current Period Cost (yuan) | Prior Period Revenue (yuan) | Prior Period Cost (yuan) | | :--- | :--- | :--- | :--- | :--- | | Main business | 228,149,571.43 | 148,275,914.33 | 215,438,832.27 | 135,927,914.56 | | Other businesses | 6,596,078.76 | 5,287,550.23 | 13,804,947.48 | 9,731,773.47 | | **Total** | **234,745,650.19** | **153,563,464.56** | **229,243,779.75** | **145,659,688.03** | [VIII. R&D Expenses](index=190&type=section&id=八%E3%80%81研发支出) This section lists the company's R&D expenses categorized by nature of expense for the reporting period, totaling **35.56 million yuan**, all expensed, a decrease from the same period last year R&D Expenses by Nature of Expense | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Employee compensation | 22,006,240.28 | 26,634,248.14 | | Depreciation and amortization | 6,812,195.40 | 7,045,025.51 | | Material costs | 3,955,987.08 | 4,608,150.96 | | Travel expenses | 562,778.21 | 767,373.93 | | Outsourced R&D fees | 419,712.98 | 3,423,847.10 | | Others | 1,801,221.80 | 908,676.71 | | **Total** | **35,558,135.75** | **43,387,322.35** | | Of which: Expensed R&D expenditure | 35,558,135.75 | 43,387,322.35 | | Capitalized R&D expenditure | - | - | [IX. Changes in Consolidation Scope](index=191&type=section&id=九%E3%80%81合并范围的变更) This section states that there were no changes in the consolidation scope due to business combinations under common control, business combinations not under common control, reverse acquisitions, or disposal of subsidiaries during the reporting period, but several wholly-owned and controlled subsidiaries were newly established - The company established a wholly-owned subsidiary, Shengjing Micro Investment Development (Wuxi) Co., Ltd., on January 20, 2025[495](index=495&type=chunk) - The company established wholly-owned subsidiaries Shengjing Investment Development Co., Ltd. and Shengjing Technology Development Co., Ltd. in the Hong Kong Special Administrative Region on February 20 and February 26, 2025, respectively[495](index=495&type=chunk) - The company established a controlled subsidiary Sohar International Explosives Company LLC in the Sultanate of Oman on March 3, 2025, holding **80%** equity[495](index=495&type=chunk) [X. Interests in Other Entities](index=193&type=section&id=十%E3%80%81在其他主体中的权益) This section details the company's interests in subsidiaries, including the composition of the enterprise group, important non-wholly-owned subsidiaries and their key financial information, and the basis for the company's control over subsidiaries Composition of Enterprise Group | Subsidiary Name | Registered Capital (ten thousand yuan) | Business Nature | Shareholding Ratio (%) Direct | | :--- | :--- | :--- | :--- | | Weina Core | 500.00 | Engineering and technical research and experimental development | 100.00 | | Shanghai Xianji | 1,098.90 | Engineering and technical research and experimental development | 72.11 | | Shengzexin | 3,000.00 | Integrated circuit design, sales | 100.00 | | Shenyang Dingxin | 1,000.00 | Research and experimental development | 90.00 (Indirect) | | Shengjing Micro Investment Development (Wuxi) Co., Ltd. | 4,800.00 | Integrated circuit sales, investment activities | 100.00 | | Shengjing Investment Development Co., Ltd. | HKD 1 million | Integrated circuit sales | 100.00 (Indirect) | | Shengjing Technology Development Co., Ltd. | HKD 1 million | Integrated circuit sales | 100.00 (Indirect) | | Sohar International Explosives Company LLC | OMR 0.384845 million | Civil blasting product trade, detonator and explosive production, blasting engineering contracting | 80.00 (Indirect) | Key Financial Information of Important Non-Wholly-Owned Subsidiary (Shanghai Xianji) | Item | End of Period Balance (ten thousand yuan) | Beginning of Period Balance (ten thousand yuan) | | :--- | :--- | :--- | | Current assets | 7,847.39 | 3,555.80 | | Non-current assets | 968.15 | 1,340.78 | | Total assets | 8,815.54 | 4,896.58 | | Current liabilities | 15,364.73 | 11,831.12 | | Non-current liabilities | 42.34 | 66.64 | | Total liabilities | 15,407.07 | 11,897.76 | | Operating revenue | 5,142.51 | 2,112.97 | | Net profit | 418.74 | -1,615.76 | | Total comprehensive income | 418.74 | -1,615.76 | | Cash flow from operating activities | -1,979.42 | 67.42 | [XI. Government Grants](index=196&type=section&id=十一%E3%80%81政府补助) This section discloses the company's government grant-related liability items and government grant amounts recognized in profit or loss for the current period, primarily deferred income related to assets and government grants related to income Liability Items Involving Government Grants | Financial Statement Item | Beginning of Period Balance (yuan) | New Grants This Period (yuan) | Recognized in Other Income This Period (yuan) | End of Period Balance (yuan) | Related to Asset/Income | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred income | 177,500.10 | - | 15,000.00 | 162,500.10 | Asset-related | | **Total** | **177,500.10** | **-** | **15,000.00** | **162,500.10** | **/** | Government Grants Recognized in Profit or Loss for the Current Period | Type | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Asset-related | 15,000.00 | 50,294.10 | | Income-related | 1,545,000.00 | 475,137.83 | | **Total** | **1,560,000.00** | **525,431.93** | [XII. Risks Related to Financial Instruments](index=197&type=section&id=十二%E3%80%81与金融工具相关的风险) This section analyzes the credit risk and liquidity risk faced by the company, including accounts receivable concentration, maturity distribution of financial liabilities, and discloses the derecognition of transferred financial assets - The company's top five accounts receivable customers account for **58.45%** of the total, and the top five other receivables companies account for **92.50%**, indicating a certain concentration of credit risk[506](index=506&type=chunk) Maturity of Financial Liabilities (June 30, 2025) | Item | Within 1 Year (yuan) | 1-2 Years (yuan) | 2-3 Years (yuan) | Over 3 Years (yuan) | | :--- | :--- | :--- | :--- | :--- | | Short-term borrowings | 26,019,420.09 | - | - | - | | Accounts payable | 103,887,915.36 | - | - | - | | Other payables | 15,437,090.55 | - | - | - | | Non-current liabilities due within one year | 1,715,552.15 | - | - | - | | Other current liabilities - notes receivable not derecognized | 26,996,502.24 | - | - | - | | Lease liabilities | - | 250,280.54 | 172,994.17 | - | | Long-term borrowings | - | 23,000.00 | 9,954,000.00 | - | | **Total** | **174,056,480.39** | **273,280.54** | **10,126,994.17** | **-** | - Among the accounts receivable financing and notes receivable transferred by endorsement, some have been derecognized and some have not, mainly based on whether risks and rewards have been transferred[508](index=508&type=chunk)[509](index=509&type=chunk)[510](index=510&type=chunk)[511](index=511&type=chunk)[512](index=512&type=chunk)[513](index=513&type=chunk) [XIII. Disclosure of Fair Value](index=199&type=section&id=十三%E3%80%81公允价值的披露) This section discloses the fair value of the company's assets and liabilities measured at fair value at the end of the period, and explains the valuation techniques and significant parameters for Level 2 and Level 3 fair value measurements Fair Value of Assets and Liabilities Measured at Fair Value at Period End | Item | Level 1 Fair Value Measurement (yuan) | Level 2 Fair Value Measurement (yuan) | Level 3 Fair Value Measurement (yuan) | Total (yuan) | | :--- | :--- | :--- | :--- | :--- | | I. Recurring fair value measurements | - | - | - | - | | (I) Trading financial assets | - | 607,363,283.79 | - | 607,363,283.79 | | (VI) Notes receivable financing | - | - | 40,990,340.97 | 40,990,340.97 | | **Total assets measured at recurring fair value** | **-** | **607,363,283.79** | **40,990,340.97** | **648,353,624.76** | - The company's Level 2 fair value measurements for trading financial assets (negotiable large-denomination certificates of deposit, structured deposits, wealth management products) primarily

人民财讯8月18日电，盛景微（603375）8月18日晚间披露2025年半年报，公司上半年实现营业收入2.35 亿元，同比增长2.4%；归母净利润为1437.78万元，同比增长57.66%。基本每股收益0.14元。报告期 内，子公司上海先积的信号链产品收入占比显著上升。公司加速推进国际化战略，初步完成重点市场的 准入资质建设，并与多家国际知名企业达成战略合作关系。 ...

盛景微公告，2025年上半年营业收入2.35亿元，同比增长2.40%。净利润1437.78万元，同比增长 57.66%。 ...

Core Viewpoint - The company, Shengjing Micro (603375), has shown a positive stock performance with a recent increase in share price and significant changes in shareholder structure, alongside updates on share repurchase plans [1][2][4]. Shareholder Changes - As of July 31, 2025, the number of shareholders increased to 16,900, up by 2,834, representing a growth of 20.1% compared to July 18, 2025 [1][4]. - The average number of shares held per shareholder decreased from 7,140 to 5,945, with an average holding value of approximately 232,200 yuan [1]. Share Repurchase Plan - The company announced an adjustment to the maximum repurchase price from 51.58 yuan to 51.48 yuan per share, effective from August 7, 2025 [1][4]. - The repurchase plan, initially disclosed on May 15, 2025, has a budget of 30 million to 50 million yuan, aimed at employee stock ownership plans or equity incentives [2]. - As of the end of July 2025, the company has repurchased 99,300 shares, accounting for 0.10% of the total share capital, with a total expenditure of approximately 3,458,745 yuan [2].