Investment Rating - The report initiates coverage with a "Buy" rating for the company [10] Core Insights - The company has entered a growth phase with its new product Bonree ONE, which has shown significant revenue acceleration in Q2 2025, achieving a revenue of 33.99 million yuan, a year-on-year increase of 16.84% [5][6] - The company is focusing on upgrading its main business and reducing losses through cost-cutting measures, with a notable decrease in sales, management, and R&D expenses [6] - The company is strategically expanding internationally, having launched Bonree ONE's overseas version and established subsidiaries in Hong Kong and Singapore to tap into regional markets [8] Financial Performance - In H1 2025, the company reported a revenue of 70.20 million yuan, a year-on-year increase of 5.19%, while the net profit attributable to shareholders was -26.19 million yuan, an improvement of 46.75% [5][6] - The company expects revenues for 2025-2027 to be 173 million yuan, 235 million yuan, and 302 million yuan, representing growth rates of 22.78%, 36.11%, and 28.54% respectively [9][12] - The projected net profit for the same period is expected to improve significantly, moving from -3.02 million yuan in 2025 to 6.20 million yuan in 2027, indicating a substantial recovery [10][12]

Core Viewpoint - The company is proposing a 2025 Employee Stock Ownership Plan (ESOP) to enhance governance, improve employee cohesion, and promote long-term sustainable development [9][10]. Group 1: Meeting Procedures - The company has established a meeting procedure to ensure the rights of shareholders and the orderly conduct of the meeting, including identity verification for attendees [2][3]. - The meeting will be conducted with a combination of on-site and online voting, with specific time frames for each voting method [6][7]. - The company will appoint representatives to oversee the counting of votes and ensure legal compliance during the meeting [11][12]. Group 2: Proposals for Shareholder Meeting - Proposal 1: The company seeks approval for the 2025 Employee Stock Ownership Plan draft, which aims to establish a profit-sharing mechanism between employees and owners [9]. - Proposal 2: The company has developed a management method for the 2025 Employee Stock Ownership Plan to ensure effective implementation [10]. - Proposal 3: The company requests authorization from the shareholders to allow the board to manage matters related to the 2025 Employee Stock Ownership Plan [12].

北京博睿宏远数据科技股份有限公司 2025 年第一次临时股东会会议资料 二〇二五年九月 北京博睿宏远数据科技股份有限公司 2025 年第一次临时股东会会议资料目录 | 北京博睿宏远数据科技股份有限公司 2025 年第一次临时股东会会议须知 1 | | --- | | 北京博睿宏远数据科技股份有限公司 2025 年第一次临时股东会会议议程 3 | | 议案一：《关于<北京博睿宏远数据科技股份有限公司 2025 年员工持股计划（草案）>及其摘 | | 要的议案》 5 | | 议案二：《关于<北京博睿宏远数据科技股份有限公司 2025 年员工持股计划管理办法>的议案》 | | 6 | | 议案三：《关于提请股东会授权董事会办理公司 2025 年员工持股计划有关事项的议案》 7 | 证券代码：688229 证券简称：博睿数据 北京博睿宏远数据科技股份有限公司 2025 年第一次临时股东会会议须知 为保障北京博睿宏远数据科技股份有限公司（以下简称"公司"）全体股东的合法权益， 维护股东会的正常秩序，保证股东会的议事效率，确保本次股东会如期、顺利召开，根据《中 华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 ...

格隆汇9月1日丨博睿数据(688229.SH)公布，截至2025年8月31日，公司累计减持已回购股份314,761股 （含首次减持的股份），约占公司总股本的0.71%，成交最高价83.14元/股，成交最低价69.50元/股，成 交均价74.53元/股，成交金额23,458,659.14元（不含印花税、交易佣金等交易费用）。本次减持后，公 司回购专用证券账户持有股份713,314股，约占公司总股本的1.61%。本次减持已回购股份事项符合相关 法律法规及公司减持计划的要求。 ...

Buyback Plan - The company implemented a share buyback plan from February 8, 2024, to May 6, 2024, repurchasing a total of 722,487 shares, which accounts for 1.63% of the total share capital [1] - The average buyback price was 27.64 yuan per share [3] Share Reduction Plan - The company announced a plan to reduce its repurchased shares, intending to sell up to 444,000 shares, representing 1% of the total share capital, starting 15 trading days after the announcement on July 7, 2025, until October 27, 2025 [1] - As of August 31, 2025, the company had reduced 314,761 shares, approximately 0.71% of the total share capital, with a total transaction amount of 23,458,659.14 yuan [2][3] Current Holdings - After the reduction, the company holds 713,314 shares in the repurchase account, which is about 1.61% of the total share capital [2][3] - The highest transaction price during the reduction was 83.14 yuan per share, while the lowest was 69.50 yuan per share, with an average price of 74.53 yuan per share [2][3] Financial Impact - The funds obtained from the sale of repurchased shares will be included in the capital reserve, aiding in the replenishment of the company's working capital without significantly impacting its operations, finances, or future development [3]

证券代码：688229 证券简称：博睿数据 公告编号：2025-034 重要内容提示： 回购股份的基本情况 北京博睿宏远数据科技股份有限公司（以下简称"公司"）于 2024 年 2 月 8 日至 2024 年 5 月 6 日期间实施以集中竞价交易方式开展维护公司价值及股东权 益的回购股份计划，累计回购公司股份 722,487 股（占公司总股本的 1.63%）。 具体内容详见公司于 2024 年 5 月 8 日披露的《关于股份回购实施结果暨股份变 动的公告》（公告编号：2024-029）。 减持计划的进展情况 公司于 2025 年 7 月 7 日在上海证券交易所网站（http://www.sse.com.cn） 上披露了《关于集中竞价减持已回购股份计划公告》（公告编号：2025-025）， 拟自减持已回购股份计划公告披露之日起 15 个交易日后至 2025 年 10 月 27 日， 通过集中竞价交易方式，按市场价格减持不超过 444,000 股的已回购股份，占公 司总股本的 1%。若此期间公司有送股、资本公积金转增股本等导致公司股本数 量变动的情形，公司将对减持数量进行相应调整。 根据《上海证券交易所上市公司自 ...

证券代码：688229 证券简称：博睿数据 公告编号：2025-033 北京博睿宏远数据科技股份有限公司 关于自愿披露全资孙公司设立完成的公告 二、风险提示 孙公司名称：BONREE DATA TECH SDN. BHD. 注册号：202501039758（1641167-V） 注册资本：10,000 令吉 注册地址：C11 03, PUSAT PERDAGANGAN BANDAR BUKIT JALIL, PERSIARAN JALIL 7, 57000 KUALA LUMPUR W.P. KUALA LUMPUR MALAYSIA 董事：李凯、孟曦东 经 营 范 围 ： TO CARRY ON THE BUSINESS OF COMPUTER CONSULTANCY, INCLUDING PROVIDING ADVISORY, PLANNING, DESIGN, IMPLEMENTATION, AND SUPPORT SERVICES IN INFORMATION TECHNOLOGY\ TRADING OF COMPUTER HARDWARE, SOFTWARE, AND PERIPHERALS, AS ...

Core Viewpoint - The recent financial report of Borui Data (688229) shows a modest increase in revenue but significant improvement in net profit loss, indicating potential recovery despite ongoing challenges [1]. Financial Performance - Total revenue for the first half of 2025 reached 70.20 million yuan, a year-on-year increase of 5.19% compared to 66.73 million yuan in 2024 [1]. - The net profit attributable to shareholders was -26.19 million yuan, showing a 46.75% improvement from -49.18 million yuan in the previous year [1]. - In Q2 2025, total revenue was 33.99 million yuan, up 16.84% year-on-year, while the net profit attributable to shareholders was -16.99 million yuan, an increase of 51.72% from the same period last year [1]. Key Financial Ratios - Gross margin stood at 67.72%, down 5.22% from 71.45% in 2024, while the net margin improved to -37.30%, a 49.58% increase from -73.98% [1]. - Total operating expenses (sales, management, and financial expenses) amounted to 40.87 million yuan, accounting for 58.21% of revenue, a decrease of 24.85% year-on-year [1]. - Earnings per share improved to -0.60 yuan, a 46.90% increase from -1.13 yuan in 2024 [1]. Accounts Receivable and Cash Flow - Accounts receivable increased to 84.10 million yuan, representing 59.83% of total revenue, indicating a significant portion of revenue is tied up in receivables [1]. - Operating cash flow per share was -0.80 yuan, reflecting a 21.05% improvement from -1.01 yuan in the previous year [1]. Investment Considerations - The company has shown a historical median ROIC of 35.54%, but the worst year recorded a ROIC of -24.66% in 2024, indicating volatility in investment returns [3]. - Analysts suggest monitoring cash flow and accounts receivable due to the negative net profit and cash flow trends over the past three years [3].

Group 1 - Youyou Food achieved a net profit of 108 million yuan in the first half of 2025, a year-on-year increase of 42.47%, with a revenue of 771 million yuan, up 45.59% [1] - Keda achieved a net profit of 255 million yuan, a year-on-year increase of 16.49%, with a revenue of 2.163 billion yuan, up 14.35% [1] - North Navigation turned a profit with a net profit of 116 million yuan, achieving a revenue of 1.703 billion yuan, a year-on-year increase of 481.19% [1][2] Group 2 - China Satellite Communication reported a net profit of 181 million yuan, a year-on-year decrease of 55.59%, with a revenue of 1.221 billion yuan, up 6.33% [3] - Huqin Technology achieved a net profit of 1.889 billion yuan, a year-on-year increase of 46.3%, with a revenue of 83.939 billion yuan, up 113.06% [4] - Huasen Lithium reported a net loss of 72.739 million yuan, with a revenue of 350 million yuan, up 72.02% [4] Group 3 - Putailai achieved a net profit of 1.055 billion yuan, a year-on-year increase of 23.03%, with a revenue of 7.088 billion yuan, up 11.95% [5] - Suochen Technology reported a net loss of 45.698 million yuan, with a revenue of 57.351 million yuan, up 10.82% [5] - Canqin Technology achieved a net profit of 51.912 million yuan, a year-on-year increase of 51.94%, with a revenue of 287 million yuan, up 52.76% [6] Group 4 - Hengtong achieved a net profit of 99.3648 million yuan, a year-on-year increase of 38.86%, with a revenue of 669 million yuan, down 44.66% [6] - Sanan Optoelectronics reported a net profit of 176 million yuan, a year-on-year decrease of 4.24%, with a revenue of 8.987 billion yuan, up 17.03% [7] - New Dairy achieved a net profit of 397 million yuan, a year-on-year increase of 33.76%, with a revenue of 5.526 billion yuan, up 3.01% [8] Group 5 - Yiling Pharmaceutical achieved a net profit of 669 million yuan, a year-on-year increase of 26.03%, with a revenue of 4.040 billion yuan, down 12.26% [10] - Baosteel achieved a net profit of 4.879 billion yuan, a year-on-year increase of 7.36%, with a revenue of 151.372 billion yuan, down 7.28% [12] - Feikai Materials achieved a net profit of 217 million yuan, a year-on-year increase of 80.45%, with a revenue of 1.462 billion yuan, up 3.8% [13] Group 6 - Lier Chemical achieved a net profit of 271 million yuan, a year-on-year increase of 191.21%, with a revenue of 4.507 billion yuan, up 35.36% [15] - Shaanxi Coal achieved a net profit of 7.638 billion yuan, a year-on-year decrease of 31.18%, with a revenue of 779.83 billion yuan, down 14.19% [16] - Dongfang Materials reported a net profit of 654,400 yuan, a year-on-year decrease of 88.48%, with a revenue of 174 million yuan, down 5.06% [18] Group 7 - Blue Sky Bio achieved a net profit of 26.7163 million yuan, a year-on-year decrease of 8.98%, with a revenue of 652 million yuan, up 7.05% [19] - Shanghai Jiubai achieved a net profit of 23.7897 million yuan, a year-on-year increase of 0.24%, with a revenue of 45.0535 million yuan, down 1.09% [20] - Two Sides Needle reported a net loss of 5.0842 million yuan, with a revenue of 522 million yuan, up 1.02% [21] Group 8 - Shanghai Yashi achieved a net profit of 20.3263 million yuan, a year-on-year increase of 42.56%, with a revenue of 2.044 billion yuan, up 56.75% [23] - Bayi Steel reported a net loss of 697 million yuan, with a revenue of 8.733 billion yuan, down 6.73% [25] - Hongrun Construction plans to repurchase shares worth between 150 million and 300 million yuan [27] Group 9 - Kaile achieved a net profit of 10.9193 million yuan, a year-on-year increase of 280.42%, with a revenue of 137 million yuan, down 17.89% [28] - Jingda achieved a net profit of 306 million yuan, a year-on-year increase of 6.03%, with a revenue of 11.856 billion yuan, up 14.28% [29] - Blue Light Marker reported a net profit of 96.4427 million yuan, a year-on-year decrease of 47.33%, with a revenue of 32.36 billion yuan, up 4.87% [30] Group 10 - KOTAI Power achieved a net profit of 23.994 million yuan, a year-on-year increase of 35.52%, with a revenue of 711 million yuan, up 49.51% [33] - Bo Rui Data reported a net loss of 26.1918 million yuan, with a revenue of 70.1997 million yuan, up 5.19% [34] - Jiuzhoutong achieved a net profit of 1.446 billion yuan, a year-on-year increase of 19.7%, with a revenue of 81.106 billion yuan, up 5.10% [37] Group 11 - Aier Eye Hospital achieved a net profit of 2.051 billion yuan, a year-on-year increase of 0.05%, with a revenue of 11.507 billion yuan, up 9.12% [39] - Nandu Property achieved a net profit of 130 million yuan, a year-on-year increase of 532.87%, with a revenue of 914 million yuan, up 2.75% [41] - Weiyuan reported a net loss of 168 million yuan, with a revenue of 4.601 billion yuan, up 1.82% [42] Group 12 - Zhongke Chuangda achieved a net profit of 158 million yuan, a year-on-year increase of 51.84%, with a revenue of 3.299 billion yuan, up 37.44% [43] - Zhongjuxin reported a net profit of 8.1377 million yuan, a year-on-year decrease of 64.57%, with a revenue of 567 million yuan, up 20.40% [44] - Inspur Information achieved a net profit of 799 million yuan, a year-on-year increase of 34.87%, with a revenue of 80.192 billion yuan, up 90.05% [45] Group 13 - Shenghong Technology achieved a net profit of 2.143 billion yuan, a year-on-year increase of 366.89%, with a revenue of 9.031 billion yuan, up 86.00% [46] - Cambrian achieved a net profit of 1.038 billion yuan, turning a profit, with a revenue of 2.881 billion yuan, up 4347.82% [48] - Longteng Optoelectronics reported a net loss of 121 million yuan, with a revenue of 1.289 billion yuan, down 27.91% [49]

Group 1 - The core viewpoint of the news is the disclosure of institutional and public fund holdings in 博睿数据 (688229.SH) as of August 26, 2025, indicating a slight decline in institutional ownership compared to the previous quarter [1] - A total of three institutional investors hold shares in 博睿数据, with a combined holding of 3.5941 million shares, representing 8.09% of the total share capital [1] - The institutional ownership percentage decreased by 1.67 percentage points compared to the previous quarter [1] Group 2 - One new public fund was disclosed during this period, namely 大成中证360互联网+指数A [1] - One public fund, 鹏华智投数字经济混合A, was not disclosed in this quarter compared to the previous one [1]