Core Viewpoint - The company, Weipage (603956), is forecasting a net loss of approximately 130.93 million yuan for the year 2025, although it expects to reduce its losses by about 90 million yuan compared to the previous year [1]. Financial Performance - In 2024, the company reported an operating revenue of 1.24 billion yuan, a year-on-year decrease of 12.51% [1]. - The net profit attributable to the parent company for 2024 was a loss of 21.2 million yuan, compared to a profit of 2.33 million yuan in the previous year [1]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was a loss of 23.8 million yuan, compared to a loss of 1.1 million yuan in the previous year [1]. - The net cash flow from operating activities was -163 million yuan, down from 24.96 million yuan in the previous year [1]. Fundraising Activities - The total amount raised from the initial public offering (IPO) was approximately 242.80 million yuan, with a net amount of about 204.20 million yuan after expenses [2]. - The company planned to use the raised funds for upgrading its R&D technology center, marketing network system, and to supplement working capital [2]. - The total fundraising from the IPO expenses was 38.60 million yuan, with the lead underwriter, CITIC Securities, receiving approximately 27.25 million yuan [2]. - The company issued 4.2 million convertible bonds in November 2020, raising a total of 420 million yuan, with a net amount of approximately 416.54 million yuan after expenses [2]. - In 2021, the company conducted a non-public offering of 82.47 million shares at a price of 11.76 yuan per share, raising a total of approximately 969.90 million yuan, with a net amount of about 959.04 million yuan after expenses [3]. - The total amount raised from all three fundraising activities was approximately 1.633 billion yuan [4].

Core Viewpoint - The company, Shanghai Weipai Ge Smart Water Co., Ltd., anticipates a net loss for the year 2025, with projected figures indicating a significant reduction in losses compared to the previous year [2][3]. Performance Forecast - The company expects a net profit attributable to shareholders of approximately -130.93 million yuan for 2025, and a net profit of approximately -150.53 million yuan after deducting non-recurring gains and losses [2]. - This represents an improvement of about 90 million yuan compared to the previous year's loss [2]. Previous Year’s Performance - In the same period last year, the net profit attributable to shareholders was -211.95 million yuan, and the net profit after deducting non-recurring gains and losses was -238.25 million yuan [3][4]. Reasons for Expected Loss 1. The company continues to use the project acceptance method for revenue recognition, which has been affected by the macroeconomic environment and local fiscal timing, leading to delays in revenue recognition for TOG-type business projects. The company has approximately 1.254 billion yuan in hand orders, a year-on-year increase of 3%. The quality of new projects has improved significantly, with a gross margin increase of about 5 percentage points and a more than 20% increase in the proportion of contract prepayments [5]. 2. Revenue recognition is primarily concentrated in December, with over 500 million yuan recognized in a single month. Due to accounting prudence, the company has made full provisions for bad debts on certain receivables, resulting in an increase in credit impairment losses [5]. 3. The performance of some subsidiaries acquired earlier has declined due to market changes, leading to goodwill impairment provisions. The company has initiated a comprehensive organizational restructuring and cost reduction efforts to enhance operational efficiency [6]. Future Plans - The company has developed special measures focusing on project acceptance, receivables collection, and cost control, aiming to improve operational efficiency and achieve profitability [7].

Core Viewpoint - The company, Weipai Ge, expects to report a net profit attributable to shareholders of approximately -130.93 million yuan for the year 2025, indicating a reduction in losses compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be around -150.53 million yuan for 2025 [1] - This represents a reduction in losses of approximately 90 million yuan compared to the same period last year [1]

Core Viewpoint - The company, Weipai Ge (603956.SH), expects a net loss of approximately 131 million yuan for the fiscal year 2025, primarily due to delays in project acceptance and revenue recognition influenced by the macroeconomic environment and local fiscal schedules [1] Financial Performance - The company continues to use the project acceptance method for revenue recognition, but the overall progress of TOG business project acceptance has been delayed, resulting in lower-than-expected revenue recognition [1] - As of the end of the reporting period, the company has an order backlog of approximately 1.254 billion yuan (including tax), representing a year-on-year increase of 3% [1] Business Development - Despite longer conversion cycles for comprehensive projects like smart water management and smart water plants compared to traditional hardware businesses, the quality of new signed projects has significantly improved this year [1] - The gross profit margin for signed contracts has increased by approximately 5 percentage points, and the proportion of contract prepayments has risen by over 20%, indicating a shift towards higher-value sectors [1] Cash Flow and Financial Health - The company's net operating cash flow is approximately 66 million yuan, showing an improvement of about 230 million yuan year-on-year, indicating a stable overall operating capital situation [1]

Core Viewpoint - Weipai Ge (603956.SH) is expected to report a net profit attributable to shareholders of approximately -131 million yuan for the year 2025, indicating a reduction in losses compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders after deducting non-recurring gains and losses for 2025 is around -151 million yuan, which represents a reduction in losses of approximately 90 million yuan compared to the same period last year [1]

Financial Performance Expectations - The company expects a net profit attributable to shareholders of approximately -130.93 million yuan for the year 2025, and a net profit of approximately -150.53 million yuan after deducting non-recurring gains and losses, representing a reduction in losses of about 90 million yuan compared to the previous year [4]. - In the same period last year, the net profit attributable to shareholders was -211.95 million yuan, and the net profit after deducting non-recurring gains and losses was -238.25 million yuan [5]. - The expected performance data has not been audited by registered accountants and is based on preliminary calculations by the company's financial department [8]. - Investors are advised to note that the above forecast data is preliminary and the specific financial data will be disclosed in the official 2025 annual report [9]. Operational Improvements - The company has approximately 1.254 billion yuan in hand orders (including tax), a year-on-year increase of 3% [6]. - The gross profit margin of newly signed projects has improved by about 5 percentage points, indicating a shift towards higher value areas [6]. - The net operating cash flow is approximately 66 million yuan, an improvement of about 230 million yuan year-on-year [7]. - The company plans to establish a special collection team for long-aged accounts receivable in 2026 to enhance collection efforts, which is expected to positively impact future profits [7]. - The company has initiated a comprehensive organizational structure optimization and cost reduction work to improve operational efficiency and management foundation [7]. - The company has implemented special deployments around project acceptance, accounts receivable collection, and cost control to further enhance operational efficiency [7].

Group 1 - The core viewpoint of the article is that Weipai Ge (603956.SH) has projected a significant net loss for the year 2025, indicating ongoing financial challenges for the company [1] Group 2 - Weipai Ge expects to achieve a net profit attributable to the parent company of approximately -131 million yuan for the year 2025 [1] - The company anticipates a net profit attributable to the parent company, after deducting non-recurring gains and losses, of around -151 million yuan for the same period [1]

Group 1 - Shanghai Weipai Ge Smart Water Co., Ltd. won a procurement project from Lixin County Kaisheng Water Co., Ltd. with a bid amount of 2.1 million yuan [1] - The company reported a revenue of 1.24 billion yuan in 2024, with a revenue growth rate of -12.51% [2][3] - The net profit attributable to the parent company for 2024 was -212 million yuan, with a net profit growth rate of -1008.19% [2][3] Group 2 - In the first half of 2025, the company's revenue was 331 million yuan, reflecting a revenue growth rate of -27.43% [2][3] - The net profit attributable to the parent company for the first half of 2025 was -80 million yuan, with a net profit growth rate of -3.72% [2][3] - The company operates in the industrial sector, with its main product composition being: water supply equipment (44.07%), smart water plants (23.8%), smart water information technology (17.21%), digital mapping (5.85%), smart meters (5.63%), and others (3.43%) [2][3]

Group 1 - The first meeting of the 2025 Employee Stock Ownership Plan (ESOP) was held on December 31, 2025, with 49 participants representing 30,213,008 shares, accounting for 82.08% of the total plan shares [2] - The meeting was legally convened and conducted according to relevant laws and regulations [2] - A management committee for the 2025 ESOP was established to enhance daily management efficiency, consisting of 5 members, with a term aligned with the plan's duration [3] Group 2 - The committee members elected include Liu Bing, He Yunxi, Han Qiang, Huang Gang, and Chen Ping, with Liu Bing serving as the committee chair [4] - The committee was authorized to handle various matters related to the ESOP, including convening meetings, managing daily operations, and representing shareholders in exercising rights [5][6] - The total subscription amount for the ESOP was RMB 30,213,008, corresponding to 8,486,800 shares, which is 1.49% of the company's total share capital [8] Group 3 - The shares were transferred to the ESOP account at a price of RMB 3.56 per share, with the transfer completed on December 31, 2025 [8] - The ESOP will have a maximum duration of 60 months, with shares unlocking in three phases based on performance metrics [9] - The company will continue to monitor the implementation of the ESOP and fulfill disclosure obligations as required by law [9]

证券代码：603956 证券简称：威派格 公告编号：2026-001 上海威派格智慧水务股份有限公司 2025 年员工持股计划第一次持有人会议决议的公告 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。 一、持有人会议召开情况 上海威派格智慧水务股份有限公司（以下简称"公司"）2025 年员工持股计 划（以下简称"本次员工持股计划"）第一次持有人会议（以下简称"持有人会 议"或"会议"）于 2025 年 12 月 31 日以现场结合通讯方式召开，出席本次会议 的持有人 49 名，代表公司本次员工持股计划份额为 30,213,008 份，占公司本次 员工持股计划总份额的 82.08%。会议由董事会秘书何云喜先生召集主持，本次 会议的召集、召开及表决程序符合相关法律法规、规范性文件及公司本次员工持 股计划的有关规定，会议合法有效。 二、持有人会议审议情况 经与会持有人逐项审议，通过如下议案： （一）审议并通过了《关于设立公司 2025 年员工持股计划管理委员会的议 案》 为了促进公司本次员工持股计划日常管理的效率，根据《上海威派格智 ...