1 证券代码：688159 证券简称：有方科技 公告编号：2025-060 深圳市有方科技股份有限公司 关于提前归还部分临时用于补充流动资金 的募集资金的公告 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。 深圳市有方科技股份有限公司（以下简称"公司"）于 2025 年 3 月 12 日召开第四届董事会第四次会议、第四届监事会第三次会议， 审议通过了《关于使用部分闲置募集资金暂时补充流动资金的议案》。 根据募集资金投资项目的资金使用计划及项目的建设进度，公司及全 资子公司在确保不影响募集资金投资项目建设进度的前提下，为了提 高募集资金使用效率、降低公司财务成本、解决公司运营发展的资金 需求，拟使用不超过人民币 5,500 万元闲置募集资金暂时补充流动资 金，使用期限自公司董事会审议通过之日起不超过 12 个月，并且公 司将随时根据募投项目的进展及需求情况及时归还至募集资金专用 账户，具体详情见公司于 2025 年 3 月 13 日在上海证券交易所网站 （www.sse.com.cn）披露的《有方科技：关于使用部分闲置募集资 ...

Group 1 - The core viewpoint of the news is that Youfang Technology has seen a significant increase in its stock price, with a rise of 5.21% to 66.40 CNY per share, and a total market capitalization of 6.169 billion CNY [1] - Youfang Technology, established on October 18, 2006, and listed on January 23, 2020, specializes in the research, production, and sales of IoT wireless communication modules, terminals, and solutions [1] - The main revenue composition of Youfang Technology includes cloud products and services at 82.17%, wireless communication modules at 15.06%, and other minor contributions from various segments [1] Group 2 - Yongying Fund's digital economy mixed fund has entered the top ten circulating shareholders of Youfang Technology, holding 2.65% of the circulating shares with 2.4368 million shares [2] - The fund has achieved a year-to-date return of 45.77% and a one-year return of 124.45%, ranking 81 out of 7978 in its category [2] - The fund manager, Wang Wenlong, has a tenure of 2 years and 150 days, with the best fund return during this period being 29.91% [2] Group 3 - Yongying Fund's digital economy mixed fund holds Youfang Technology as its third-largest heavy stock, accounting for 8.44% of the fund's net value [3] - The fund has realized a floating profit of approximately 8.017 million CNY from its investment in Youfang Technology [3]

Group 1: Macro Insights - August PMI for manufacturing and non-manufacturing sectors showed a slight recovery, but manufacturing PMI remains in contraction territory [9] - Supply and demand both improved, with supply rebounding more significantly, driven by the pharmaceutical and electronics sectors [9] - The price index continued to rebound, indicating a narrowing decline in PPI, while inventory trends showed divergence [9] Group 2: Banking Sector Performance - In H1 2025, listed banks reported a revenue growth of 1.0% and a net profit growth of 0.8%, both turning positive compared to Q1 2025 [32] - Different types of banks showed varied performance, with state-owned banks improving significantly due to increased asset growth [32] - The overall banking sector is expected to benefit from expansionary policies aimed at stabilizing economic growth [34] Group 3: White Wine Industry Analysis - The white wine sector reported a revenue of 2414.2 billion yuan in H1 2025, a year-on-year decline of 0.8%, with net profit at 946.3 billion yuan, down 1.2% [28] - High-end and sub-high-end wines showed resilience, while regional wines faced significant declines [28] - The industry is undergoing a supply-side adjustment, with companies focusing on destocking and maintaining prices [30] Group 4: Energy Sector Developments - The energy sector is expected to experience a shift towards marketization, with significant growth in renewable energy installations [38] - The anticipated changes in electricity pricing are expected to reverse current pessimistic market expectations [38] - Companies with resilient earnings in the energy sector, such as Baoneng Energy and Huaneng International, are recommended for investment [38] Group 5: Home Appliance Industry Insights - The home appliance sector is witnessing a mixed performance, with companies like Midea Group maintaining stable profitability despite short-term pressures from tariffs [3][5] - The market for shared massage services is growing, with leading companies like LeMoba showing strong revenue and profit growth [25] - The overall home appliance market is characterized by competitive pressures and the need for companies to innovate and expand their service offerings [25]

Core Insights - The company focuses on the "Internet of Things (IoT)" sector, providing a range of products including cloud services, which are expected to drive significant revenue growth in the coming years [1][3] - The IoT industry in China is considered a strategic emerging industry, with a projected compound annual growth rate of 15% for cellular IoT connections from 2024 to 2030 [2] - The company has established a strong competitive position in the smart grid sector, achieving over 50% of the national grid's procurement volume for wireless communication modules in recent years [2] Company Overview - Founded in 2006 and listed on the Sci-Tech Innovation Board in 2020, the company has a management team with an average of over 20 years of experience in the telecommunications industry [1] - The company's main business includes IoT wireless communication modules, terminals, solutions, and cloud products, covering design, R&D, processing, and sales [1] - The company plans to expand into computing cloud services by 2025, further extending its business boundaries [1] Financial Performance - The company is expected to see a revenue increase of 229.3% year-on-year and a net profit increase of 360.8% year-on-year in 2024, driven by rapid growth in cloud product sales [1] - Revenue projections for 2025-2027 are estimated at 51.58 billion, 78.95 billion, and 105.03 billion yuan, with corresponding net profits of 2.35 billion, 6.40 billion, and 11.02 billion yuan [4] Market Outlook - The domestic demand for intelligent computing is strong, with the cloud product market expected to continue high growth due to the development of the AI industry and data center construction [3] - The company has established a stable supply chain and strong customer relationships, positioning it well for future growth in the computing cloud service sector [3] - The market currently underestimates the company's advantages in cloud products and computing cloud services, which may lead to higher pricing power in the future [3]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4] Core Insights - The company is positioned in the Internet of Things (IoT) sector, focusing on wireless communication modules and cloud products, with significant growth expected in its cloud business [1][3] - The company has a strong management team with an average of over 20 years of experience in the telecommunications industry, enhancing its competitive edge [1][2] - The financial outlook is optimistic, with projected revenue growth of 229.3% year-on-year in 2024, driven by the rapid expansion of cloud products [1][9] Company Overview - The company, established in 2006, focuses on providing IoT communication products and services, including cloud solutions [1][15] - It has recently expanded into cloud products, with plans to enter the computing cloud service market by 2025 [1][3] Financial Performance - The company reported a revenue of 932 million RMB in 2023, with projections of 3,069 million RMB in 2024 and 5,158 million RMB in 2025, indicating substantial growth [9][26] - The net profit is expected to turn positive in 2024, reaching 100 million RMB, and further increasing to 235 million RMB in 2025 [9][26] Industry Outlook - The IoT industry is recognized as a strategic emerging industry in China, with a projected compound annual growth rate of 15% for cellular IoT connections from 2024 to 2030 [2][32] - The wireless communication module market is highly concentrated, with the top five companies holding over 75% of the market share [2][33] Competitive Advantages - The company possesses multiple core competencies in wireless communication technology, including proprietary technologies and patents [2][35] - It has established a leading position in the smart grid sector, with over 50% of the market share in wireless communication modules for the national grid [2][36] Cloud Business Potential - The domestic demand for intelligent computing is strong, and the company's cloud products are expected to experience significant growth due to favorable market conditions [3][28] - The company plans to sign a procurement contract for up to 4 billion RMB for servers to support its computing cloud services, which is anticipated to positively impact future financial performance [3][8]

Core Viewpoint - The recent financial report of Fang Technology (688159) shows a significant increase in total revenue but a decline in net profit, indicating mixed performance and potential concerns regarding cash flow and receivables [1] Financial Performance - Total revenue for the first half of 2025 reached 2.452 billion yuan, a year-on-year increase of 39.06% [1] - Net profit attributable to shareholders was 63.5641 million yuan, a decrease of 22.1% compared to the previous year [1] - In Q2 2025, total revenue was 1.395 billion yuan, up 54.74% year-on-year, while net profit rose by 101.05% to 45.9646 million yuan [1] - Gross margin decreased to 7.67%, down 26.08% year-on-year, and net margin fell to 2.55%, a decline of 43.42% [1] - The company reported a significant increase in accounts receivable, which rose by 82.64% to 881 million yuan [1] Cash Flow and Debt - The company has a healthy cash position with cash assets amounting to 576 million yuan, a 197.14% increase year-on-year [1] - The cash flow situation is concerning, with cash assets to current liabilities ratio at 55.9% and average operating cash flow over the past three years being negative [3] - Interest-bearing debt increased by 59% to 762 million yuan, raising concerns about the debt situation [1][3] Business Model and Operational Stability - The company's business model is primarily driven by research and development, necessitating careful examination of the underlying drivers [2] - The company confirmed that its production and operational activities are normal, with stable procurement channels that are minimally affected by external policies [4]

Group 1 - The company reported significant growth in operating revenue compared to the same period last year, driven by the development of IoT wireless communication modules, terminals, and cloud products [1][2] - The net profit for the reporting period was positive but showed a decline compared to the previous year, primarily due to a decrease in the gross margin of cloud product business [1][2] - The company has implemented a specialized management system for the use of raised funds, ensuring compliance with relevant regulations and protecting investor interests [8][9] Group 2 - The total amount raised from the initial public offering was approximately 466.42 million yuan, with a net amount of about 412.66 million yuan after deducting issuance costs [4] - As of June 30, 2025, the company had utilized approximately 368.93 million yuan of the raised funds for related projects [10] - The company has not experienced any idle raised funds or used excess funds for permanent working capital or loan repayment [14][15] Group 3 - The company plans to participate in a collective performance briefing for the artificial intelligence industry on September 9, 2025, to address investor concerns regarding its financial performance [37][41] - The meeting will be conducted via video and online interaction, allowing investors to submit questions in advance [42][43] - Key personnel, including the chairman and financial director, will be present to engage with investors during the briefing [41][43]

智通财经APP讯，有方科技(688159.SH)披露2025年半年度报告，报告期公司实现营收24.52亿元，同比 增长39.06%;归母净利润6356万元，同比下降22.1%;扣非净利润5910万元，同比下降24.19%;基本每股收 益0.69元。 ...

Meeting Overview - The fourth meeting of the board of directors of Shenzhen Youfang Technology Co., Ltd. was held on August 27, 2025, with all 8 directors present [2] - The meeting was convened in accordance with the Company Law and relevant regulations [2] Board Resolutions - The board approved the "2025 Semi-Annual Report" and its summary, confirming that the report's preparation and review complied with legal and internal regulations [3] - The board ensured that the information disclosed in the semi-annual report is true, accurate, and complete, with no false records or misleading statements [3] - The board also approved the "2025 Semi-Annual Special Report on the Storage and Use of Raised Funds," confirming its compliance with legal requirements [4] Asset Management - The board approved a proposal for a wholly-owned subsidiary to convert part of its self-use properties into investment properties to enhance asset utilization [5] - Specific properties to be converted include: - 3,598.23 square meters at Building 1, No. 1, Songshan Lake, Dongguan - 2,429.92 square meters at Building 1, No. 11, Park Technology Fourth Road - 2,161.96 square meters at Building 1, No. 1, Youfang Group R&D Headquarters [5]

证券代码：688159 证券简称：有方科技 公告编号：2025-057 深圳市有方科技股份有限公司 第四届监事会第五次会议决议公告 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 深圳市有方科技股份有限公司（以下简称"公司"）于 2025 年 称"本次会议"）。本次会议由熊杰主持，本次应出席会议的监事 3 名，实际出席的监事 3 名。本次会议的召集、召开符合《公司法》等 相关法律、法规以及《公司章程》的规定。 二、监事会会议表决情况 表决结果：3 名监事同意，0 名监事反对，0 名监事弃权。 具体内容详见公司同日披露于上海证券交易所网站 （www.sse.com.cn）的《有方科技：2025 年半年度报告》和《有方 科技：2025 年半年度报告摘要》。 （二）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》。 公司根据法律、法规和《公司章程》的规定，编制了《2025 年 半年度募集资金存放与使用情况专项报告》并予以汇报。 监事会认为：公司 2025 年半年度募集资 ...