Core Viewpoint - *ST Yuancheng (603388) reported a mixed financial performance for the first half of 2025, with significant revenue growth but a substantial decline in net profit, indicating underlying operational challenges and financial strain [1] Financial Performance Summary - Total revenue for the first half of 2025 reached 82.34 million yuan, a year-on-year increase of 42.17% compared to 57.92 million yuan in the same period of 2024 [1] - The net profit attributable to shareholders was -127 million yuan, reflecting a 94.52% decline from -65.18 million yuan in the previous year [1] - The gross profit margin improved to 7.19%, a significant increase of 181.94% from -8.78% in the prior year [1] - The net profit margin was -154.95%, a decrease of 24.16% from -124.80% in the previous year [1] - Total receivables accounted for 596.89% of the latest annual revenue, indicating a high level of outstanding payments [1] Cost and Expense Analysis - Total operating expenses (selling, administrative, and financial expenses) amounted to 34.38 million yuan, representing 41.76% of revenue, a decrease of 39.45% year-on-year [1] - Management expenses decreased by 43.65% due to reduced wages and daily expenditures [6] - Financial expenses increased by 46.71% due to interest income from delayed payments in the previous period [7] Cash Flow and Debt Situation - Operating cash flow per share improved to 0.01 yuan, a year-on-year increase of 119.35% from -0.07 yuan [1] - The company’s cash flow from operating activities showed a net increase of 26.93 million yuan, despite ongoing challenges in project collections [7] - The ratio of monetary funds to current liabilities was only 0.91%, indicating potential liquidity issues [8] Asset and Liability Changes - Inventory decreased by 50.39% due to the transfer of subsidiaries [3] - Goodwill saw a drastic reduction of 99.82%, also attributed to the transfer of subsidiaries [3] - Long-term borrowings decreased by 100% as they were reclassified to current liabilities [5] Historical Performance Insights - The company has experienced three years of losses since its listing, indicating a fragile business model [6] - The historical median Return on Invested Capital (ROIC) stands at 11.88%, with the worst year being 2024 at -16.59% [6]

格隆汇8月29日丨*ST元成(603388.SH)公布半年度报告，2025年上半年，公司实现了营业收入8,233.93万 元，归属于母公司股东的净利润-12,679.50万元。营业收入不及预期和净利润下降的主要原因系1、公司 所处行业受市场宏观经济下行影响较大，由于相关甲方投资总量缩减、速度减缓，致使行业市场竞争加 剧，因此公司近几年采取了较为谨慎的经营策略，致使2025年上半年新增订单明显减少、在手订单推进 实施速度缓慢，致报告期内营业收入不及预期和净利润下降；2、相关甲方的建设资金筹集不及预期， 资金负债承压较大，致使其支付能力下降，公司已施工项目部分客户未能按期支付工程款项，应收账款 回款速度缓慢，致报告期内营业收入不及预期和净利润下降；3、转让硅密电子股权、计提信用减值损 失增加致报告期内净利润下降。 ...

Group 1 - The core viewpoint of the news is that *ST Yuancheng has experienced a decrease in shareholder numbers and average shareholding value, indicating a potential decline in investor interest [1][2] - As of June 30, 2025, the number of shareholders for *ST Yuancheng is 10,153, a decrease of 371 shareholders or 3.53% from March 31, 2025 [1][2] - The average shareholding value per shareholder is 112,600 yuan, which is lower than the industry average of 247,000 yuan for infrastructure sector A-share listed companies [1][2] Group 2 - From March 31, 2025, to June 30, 2025, *ST Yuancheng's stock price decreased by 5.14%, coinciding with a reduction in shareholder numbers [1][2] - During the same period, the net outflow of main funds was 236 million yuan, while retail investors saw a net inflow of 156 million yuan [2]

Core Viewpoint - *ST Yuancheng reported a significant increase in revenue but a substantial decline in net profit for the first half of 2025, indicating financial distress despite operational growth [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 82.34 million yuan, a year-on-year increase of 42.17% [1]. - The net profit attributable to shareholders was -127 million yuan, a year-on-year decrease of 94.52% [1]. - The non-recurring net profit was -78.87 million yuan, down 86.04% year-on-year [1]. - Basic earnings per share were -0.39 yuan [2]. Profitability Metrics - The gross margin for the first half of 2025 was 7.19%, an increase of 15.97 percentage points year-on-year [2]. - The net margin was -154.95%, a decline of 30.15 percentage points compared to the same period last year [2]. - In Q2 2025, the gross margin improved to 13.91%, up 25.28 percentage points year-on-year and 15.36 percentage points quarter-on-quarter [2]. - The net margin for Q2 was -219.01%, down 59.06 percentage points year-on-year and 146.46 percentage points quarter-on-quarter [2]. Expense Management - Total operating expenses for the first half of 2025 were 38.12 million yuan, a decrease of 7.63 million yuan year-on-year [2]. - The expense ratio was 46.30%, down 32.70 percentage points from the previous year [2]. - Sales expenses decreased by 56.96%, management expenses by 43.65%, and R&D expenses by 35.69%, while financial expenses increased by 46.71% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 10,200, a decrease of 371 from the previous quarter, representing a decline of 3.53% [3]. - The average market value per shareholder decreased from 114,500 yuan to 112,600 yuan, a decline of 1.67% [3]. Company Overview - *ST Yuancheng, established on December 23, 1999, is located in Hangzhou, Zhejiang Province, and was listed on March 24, 2017 [3]. - The company's main business includes landscape construction, design, maintenance, and information services, with revenue composition as follows: 52.27% from engineering and maintenance, 37.89% from electronic devices, 6.27% from design, 1.97% from other services, 0.88% from plant sales, and 0.72% from tourism operations [3].

证券代码：603388 证券简称：*ST 元成 公告编号：2025-098 元成环境股份有限公司 关于控股股东、实际控制人所持公司部分股份 被第二次司法拍卖流拍的公告 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： ● 本次被司法拍卖的股票为公司控股股东、实际控制人祝昌人先生持有的 公司 8,000,000 股，占其所持有的公司股份数量的 24.41%，占公司总股本的 2.46%。 ● 截至本公告披露日，本次司法拍卖网拍阶段已经结束，上述 8,000,000 股股票因无人出价已流拍。 ● 本次司法拍卖事项不会对公司经营管理产生重大不利影响，亦不会导致 公司控股股东和实际控制人发生变化。 2025 年 8 月 29 日，公司通过"淘宝网司法拍卖网络平台"查询获悉，杭州 市上城区人民法院于 2025 年 8 月 28 日 10 时至 2025 年 8 月 29 日 10 时止（延时 1 除外）对公司控股股东、实际控制人祝昌人先生其所持有的公司 8,000,000 股股 票进行的公开拍卖活动，因无人出价本次拍卖已流拍 ...

| 元成环境股份有限公司2025 | | 年半年度报告摘要 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 公司代码：603388 | | 公司简称：*ST 元成 | | | | | | 元成环境股份有限公司 | | | | | | | | | 元成环境股份有限公司2025 | 年半年度报告摘要 | | | | | | | 第一节 重要提示 | | | | | | | 展规划，投资者应当到 | www.sse.com.cn | 网站仔细阅读半年度报告全文。 | | | | | | 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | | | | | | 不适用 | | | | | | | | | 第二节 公司基本情况 | | | | | | | | 公司股票简况 | | | | | | | 股票种类 | 股票上市交易所 股票简称 | 股票代码 | | | | 变更前股票 | | 简称 | | | | | | | | A股 | 上海证券交易所 *ST元成 | 603388 | ST元成 | | | | | 联系人和 ...

Core Points - The company held its sixth board meeting on August 29, 2025, where all six attending directors approved the resolutions [1][2] - The board approved the 2025 semi-annual report, confirming that it accurately reflects the company's financial status and operational results [1][2] - The board also approved a special report on the use of raised funds for the first half of 2025, with all votes in favor [2][3] - The board nominated Ms. Liao Hong as an independent director candidate, pending approval at the upcoming shareholders' meeting [2][3] - The company plans to hold its first extraordinary shareholders' meeting of 2025 on September 26, 2025, combining on-site voting with online voting [3]

元成环境股份有限公司(以下简称"公司")第五届监事会第二次会议于 楼公司会议室以现场会议的方式召开。公司监事会于 2025 年 8 月 19 日以电子邮 件、电话等方式通知全体监事。会议应出席监事 3 名，实际出席监事 3 名。本次 监事会参与表决人数及召集、召开程序符合《中华人民共和国公司法》和《公司 章程》的有关规定，合法有效。 会议由监事会主席应玉莲女士主持，经与会监事认真审议和表决，形成以下 决议： 证券代码：603388 证券简称：*ST 元成 公告编号：2025-094 元成环境股份有限公司 第五届监事会第二次会议决议公告 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、审议通过《2025 年半年度报告及摘要》 议案表决情况:本议案有效表决票 3 票，同意 3 票，反对 0 票，弃权 0 票。 特此公告。 监事会同意公司 2025 年半年度报告及摘要。具体内容详见公司同日刊登于 上海证券交易所网站（www.sse.com.cn）及公司法定信息披露媒体上披露的《元 成环境股份有限公司 2025 年半年度报告》《元 ...

证券代码：603388 证券简称：*ST 元成 公告编号：2025-099 元成环境股份有限公司 关于召开2025年第一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： ? 股东大会召开日期：2025年9月26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 一、 召开会议的基本情况 (一) 股东大会类型和届次 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相 结合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 26 日 至2025 年 9 月 26 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 ...

| 证券代码：603388 证券简称：*ST 元成 公告编号：2025-097 | | | --- | --- | | 元成环境股份有限公司 | | | 关于公司 2025 年半年度募集资金存放与实际使用情况的专项报告 | | | 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。 | | | 据中国证券监督管理委员会《上市公司募集资金监管规则》（证监会公告 | | | 〔2025〕10 号）、《上海证券交易所上市公司自律监管指引第 1 号——规范运 | | | 5 月修订）》以及《上海证券交易所上市公司自律监管指南第 1 号 | 作（2025 年 | | ——公告格式（2025 年 4 月修订）》的相关规定及元成环境股份有限公司（以 | | | 下简称"公司"）《募集资金使用管理办法》等有关法律、法规和规范性文件的 | | | 规定，现将公司 2025 年半年度募集资金存放与实际使用情况说明如下： | | | 一、募集资金基本情况 | | | (一)实际募集资金金额和资金到账时间 | | | 经中国证券监督管理委员会 ...