据证券之星公开数据整理，近期伟时电子（605218）发布2025年中报。截至本报告期末，公司营业总收 入9.77亿元，同比上升9.81%，归母净利润1948.08万元，同比上升0.87%。按单季度数据看，第二季度 营业总收入5.17亿元，同比上升7.34%，第二季度归母净利润581.03万元，同比下降28.64%。本报告期 伟时电子公司应收账款体量较大，当期应收账款占最新年报归母净利润比达955.99%。 本次财报公布的各项数据指标表现一般。其中，毛利率12.76%，同比增0.89%，净利率1.99%，同比减 8.14%，销售费用、管理费用、财务费用总计4795.3万元，三费占营收比4.91%，同比增11.88%，每股净 资产6.18元，同比增4.13%，每股经营性现金流-0.25元，同比减579.73%，每股收益0.09元，同比增 0.87% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 8.89 Z | 9.774Z | 9.81% | | 归母浄利润（元） | 1931.26万 | 1948.08万 | ...

Core Viewpoint - The report highlights the financial performance and operational status of Ways Electron Co., Ltd. for the first half of 2025, indicating a slight increase in revenue but a decline in net profit due to increased R&D investments and the early-stage operations of subsidiaries [3][4]. Financial Performance - The company's revenue for the first half of 2025 was approximately CNY 976.64 million, representing a 9.81% increase compared to CNY 889.40 million in the same period of 2024 [3]. - Total profit for the period was CNY 12.63 million, down 9.91% from CNY 14.02 million year-on-year [3]. - Net profit attributable to shareholders was CNY 19.48 million, a slight increase of 0.87% from CNY 19.31 million in the previous year [3]. - The net cash flow from operating activities was negative at CNY -52.22 million, a significant decline from CNY 10.89 million in the same period last year [3]. Industry Overview - The company operates in the electronic device manufacturing sector, specifically in the display device manufacturing segment, focusing on the backlight display module industry [4][5]. - The automotive display market is expected to grow significantly, with global shipments of automotive display panels projected to reach 202 million units in 2024, a 9.5% increase from 2023 [5]. - The demand for in-car displays is driven by the development of smart cockpits and the increasing number of screens per vehicle, indicating a robust market outlook [5]. Business Operations - The company specializes in the R&D, production, and sales of backlight display modules, liquid crystal display modules, and smart display components, primarily serving the automotive sector and consumer electronics [5][6]. - The company has established stable partnerships with major global manufacturers in the automotive display sector, including Daimler, Ford, and Toyota, enhancing its market position [5][6]. - The company employs a production model that emphasizes self-manufacturing complemented by outsourcing, ensuring flexibility and responsiveness to market demands [5][6]. R&D and Innovation - The company invested CNY 67.50 million in R&D during the reporting period, accounting for 6.91% of its sales revenue, reflecting a commitment to innovation [5][6]. - The company has developed several advanced technologies, including dynamic anti-peep backlight modules and ultra-large screen backlight modules, to meet the evolving needs of the automotive industry [6][7]. - The company holds 124 authorized patents and has 46 patents pending, showcasing its focus on technological advancement and intellectual property [5][6]. Competitive Advantages - The company has built a strong competitive edge through vertical integration of its supply chain, allowing for cost reduction and quality assurance of key components [6][7]. - The company emphasizes quality management and has implemented a comprehensive quality control system to ensure product reliability and customer satisfaction [6][7]. - The company's established relationships with Tier 1 and Tier 2 suppliers enhance its brand influence and market presence in the automotive display sector [6][7].

Core Points - The report indicates that the company will not distribute profits or increase capital reserves during the reporting period [1] - The total assets of the company at the end of the reporting period amounted to approximately 2.41 billion RMB, reflecting a 2.68% increase compared to the previous year [1] - The net profit attributable to shareholders of the listed company was approximately 19.48 million RMB, showing a slight increase of 0.87% year-on-year [1] - The operating income for the reporting period reached approximately 976.64 million RMB, representing a year-on-year growth of 9.81% [1] - The net cash flow from operating activities was negative at approximately -52.22 million RMB [1] Financial Summary - Total assets: 2,414,652,932.86 RMB, up 2.68% from the previous year [1] - Net assets attributable to shareholders: 1,315,528,311.00 RMB, up 0.86% from the previous year [1] - Total profit: 12,631,391.71 RMB, down 9.91% from the previous year [1] - Net profit attributable to shareholders: 19,480,830.31 RMB, up 0.87% year-on-year [1] - Net profit after deducting non-recurring gains and losses: 10,941,894.54 RMB, down 33.97% year-on-year [1] - Basic earnings per share: 0.0924 RMB, up 0.87% from the previous year [1] - Diluted earnings per share: 0.0919 RMB, up 0.66% from the previous year [1] Shareholder Information - The largest shareholder, Watanabe Yoichi, holds 58.53% of the shares, amounting to 124,576,382 shares [2] - The second-largest shareholder, Yamaguchi Masaru, holds 9.83% of the shares, amounting to 20,920,574 shares [2] - Other notable shareholders include Hong Kong Shanghai HSBC Bank Limited and Goldman Sachs International, holding 1.17% and 0.94% respectively [2]

Group 1 - The board of directors of Weishi Electronics convened its seventh meeting of the third session on August 28, 2025, with all seven directors present, ensuring compliance with legal and regulatory requirements [1][2][3] - The board approved the 2025 semi-annual report and its summary, with a unanimous vote of 7 in favor [2][3] - The board also approved a special report on the storage and actual use of raised funds for the first half of 2025, with a unanimous vote of 7 in favor [2][3] Group 2 - The board approved the proposal to cancel the supervisory board and amend the Articles of Association, transferring the supervisory board's powers to the audit committee, with a unanimous vote of 7 in favor [2][3][4] - The amendments to the Articles of Association will be submitted for approval at the 2025 first extraordinary general meeting of shareholders [3][4] - The board approved the proposal to revise certain corporate governance systems, with a unanimous vote of 7 in favor, which will also be submitted for shareholder approval [4][5] Group 3 - The board proposed to convene the 2025 first extraordinary general meeting of shareholders, with a unanimous vote of 7 in favor [5]

Meeting Information - The first extraordinary general meeting of 2025 will be held on September 16, 2025, at 14:00 [1] - The meeting will take place at the conference room on the fourth floor, 299 Yunque Road, Precision Machinery Industrial Park, Kunshan, Jiangsu Province [1] - Voting will be conducted through both on-site and online methods, utilizing the Shanghai Stock Exchange's network voting system [3][4] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange network voting system from 9:15 to 15:00 on the day of the meeting [1][3] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts [4][5] - The first voting result will be considered valid if the same voting right is exercised multiple times [5] Attendance and Registration - Shareholders registered by the close of trading on September 9, 2025, are eligible to attend the meeting [5] - Registration will occur on September 10, 2025, at the same address as the meeting [6] - Proxy representatives must present specific documentation to attend and vote on behalf of shareholders [6] Agenda Items - The meeting will review proposals that have been approved by the company's board and supervisory board [3] - Specific proposals include changes to registration matters and management systems [3][8]

Core Points - The company held its third supervisory board meeting on August 28, 2025, where all three attending supervisors approved the agenda items [1][2] - The supervisory board approved the 2025 semi-annual report, confirming its compliance with relevant laws and regulations, and ensuring the report's accuracy and completeness [2][3] - The board also approved a special report on the use of raised funds, affirming its adherence to regulatory requirements [3] - A significant decision was made to abolish the supervisory board and amend the company's articles of association, transferring the supervisory functions to the audit committee of the board [3][4] - The proposed changes to the articles of association will require approval at the company's first extraordinary general meeting in 2025 [4][5] - The company is revising its governance systems in line with the new Company Law effective from July 1, 2024, to enhance operational standards and governance structure [5][6]

Group 1 - Hailiang Co., Ltd. achieved a revenue of 44.476 billion yuan, a year-on-year increase of 1.17%, and a net profit of 711 million yuan, a year-on-year increase of 15.03% [1] - Yinfai Storage reported a revenue of 543 million yuan, a year-on-year decrease of 18.97%, and a net profit of 62.347 million yuan, a year-on-year decrease of 20.05% [1] - Huamao Technology achieved a revenue of 1.108 billion yuan, a year-on-year increase of 14.42%, and a net profit of 137 million yuan, a year-on-year increase of 3.21% [2] Group 2 - Postal Savings Bank reported a revenue of 179.446 billion yuan, a year-on-year increase of 1.5%, and a net profit of 49.228 billion yuan, a year-on-year increase of 0.85% [4] - Bright Dairy achieved a revenue of 12.472 billion yuan, a year-on-year decrease of 1.9%, and a net profit of 217 million yuan, a year-on-year decrease of 22.53% [6] - Pianzaihuang reported a revenue of 5.379 billion yuan, a year-on-year decrease of 4.81%, and a net profit of 1.442 billion yuan, a year-on-year decrease of 16.22% [7] Group 3 - Great Wall Motors achieved a revenue of 92.335 billion yuan, a year-on-year increase of 0.99%, and a net profit of 6.337 billion yuan, a year-on-year decrease of 10.21% [9] - Haowei Group reported a revenue of 13.956 billion yuan, a year-on-year increase of 15.42%, and a net profit of 2.028 billion yuan, a year-on-year increase of 48.34% [10] - Batian Co., Ltd. achieved a revenue of 2.543 billion yuan, a year-on-year increase of 63.93%, and a net profit of 456 million yuan, a year-on-year increase of 203.71% [12] Group 4 - Yuxin Technology reported a revenue of 1.415 billion yuan, a year-on-year decrease of 5.01%, and a net profit of 220 million yuan, a year-on-year increase of 35.26% [14] - Zhongti Industry reported a revenue of 787 million yuan, a year-on-year decrease of 25.24%, and a net loss of 24.3955 million yuan [15] - Kemei Diagnostics achieved a revenue of 165 million yuan, a year-on-year decrease of 27.03%, and a net profit of 24.3408 million yuan, a year-on-year decrease of 68.24% [16] Group 5 - Huatai Co., Ltd. reported a revenue of 6.409 billion yuan, a year-on-year decrease of 1.86%, and a net profit of 67.6382 million yuan, a year-on-year decrease of 63.13% [17] - Fudan Fuhua reported a revenue of 326 million yuan, a year-on-year increase of 2.20%, and a net loss of 711.58 million yuan [19] - Haili Co., Ltd. achieved a revenue of 12.426 billion yuan, a year-on-year increase of 13.16%, and a net profit of 333.546 million yuan, a year-on-year increase of 693.76% [21] Group 6 - Xintong New Science reported a revenue of 61.852 million yuan, a year-on-year increase of 8.49%, and a net loss of 30.393 million yuan [22] - Newzhisoft achieved a revenue of 897 million yuan, a year-on-year decrease of 3.40%, and a net profit of 30.3531 million yuan, a year-on-year increase of 42.84% [24] - Maolai Optics reported a revenue of 319 million yuan, a year-on-year increase of 32.26%, and a net profit of 32.7555 million yuan, a year-on-year increase of 110.36% [25] Group 7 - Qianjin Pharmaceutical achieved a revenue of 1.818 billion yuan, a year-on-year decrease of 5.52%, and a net profit of 128 million yuan, a year-on-year increase of 8.50% [28] - Quanfeng Automotive reported a revenue of 1.218 billion yuan, a year-on-year increase of 18.90%, and a net loss of 167 million yuan [29] - Zhongjin Lingnan's application for a specific issuance of A-shares has been accepted by the Shenzhen Stock Exchange [31] Group 8 - Zhonglv Electric achieved a revenue of 2.333 billion yuan, a year-on-year increase of 29.30%, and a net profit of 618 million yuan, a year-on-year increase of 33.06% [33] - Sanhuan Group reported a revenue of 4.149 billion yuan, a year-on-year increase of 21.05%, and a net profit of 1.237 billion yuan, a year-on-year increase of 20.63% [35] - China Energy Construction achieved a revenue of 212.091 billion yuan, a year-on-year increase of 9.18%, and a net profit of 28.02 billion yuan, a year-on-year increase of 0.72% [37] Group 9 - Liou Co., Ltd. reported a revenue of 9.635 billion yuan, a year-on-year decrease of 9.62%, and a net profit of 478 million yuan, turning from a loss to profit [38] - Suzhou Bank achieved a revenue of 6.504 billion yuan, a year-on-year increase of 1.81%, and a net profit of 3.134 billion yuan, a year-on-year increase of 6.15% [40] - Shunxin Agriculture reported a revenue of 4.593 billion yuan, a year-on-year decrease of 19.24%, and a net profit of 173 million yuan, a year-on-year decrease of 59.09% [43] Group 10 - Tongfu Microelectronics achieved a revenue of 13.038 billion yuan, a year-on-year increase of 17.67%, and a net profit of 412 million yuan, a year-on-year increase of 27.72% [44] - Weidao Nano reported a revenue of 1.05 billion yuan, a year-on-year increase of 33.42%, and a net profit of 192 million yuan, a year-on-year increase of 348.95% [44] - ZTE Corporation achieved a revenue of 715.53 billion yuan, a year-on-year increase of 14.51%, and a net profit of 50.58 billion yuan, a year-on-year decrease of 11.77% [46]

Financial Performance - The company's total revenue for the first half of 2025 is 977 million yuan, with a net profit attributable to shareholders of 19.48 million yuan, ranking 47th among disclosed peers [1] - The net cash flow from operating activities is -52.22 million yuan, ranking 76th among disclosed peers, a decrease of 63.11 million yuan compared to the same period last year, representing a year-on-year decline of 579.73% [1] Financial Ratios - The company's latest debt-to-asset ratio is 45.52%, ranking 55th among disclosed peers, an increase of 2.55 percentage points from the previous quarter and an increase of 9.59 percentage points from the same period last year [3] - The latest gross profit margin is 12.76%, ranking 65th among disclosed peers, while the return on equity (ROE) is 1.48%, a decrease of 0.05 percentage points compared to the same period last year [3] Efficiency Metrics - The diluted earnings per share are 0.09 yuan [4] - The latest total asset turnover ratio is 0.41 times, a decrease of 0.06 times compared to the same period last year, representing a year-on-year decline of 13.56% [4] - The latest inventory turnover ratio is 3.51 times, a decrease of 0.18 times compared to the same period last year, representing a year-on-year decline of 4.98% [4]

Core Insights - The company reported a revenue of 977 million yuan for the first half of 2025, reflecting a year-on-year growth of 9.81% [1] - The net profit attributable to shareholders was 19.48 million yuan, showing a slight increase of 0.87% compared to the previous year [1] - The basic earnings per share (EPS) stood at 0.0924 yuan [1]

Core Viewpoint - Weishi Electronics (605218) reported its semi-annual results for 2025, showing a steady growth in revenue and net profit [1] Financial Performance - The company achieved an operating revenue of 977 million yuan, representing a year-on-year increase of 9.81% [1] - The net profit attributable to shareholders of the listed company was 19.48 million yuan, with a year-on-year growth of 0.87% [1] - Basic earnings per share stood at 0.0924 yuan [1]