[Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) This section provides essential definitions of common terms and abbreviations used throughout the report, ensuring clarity and consistent understanding of the content [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter provides definitions of common terms and abbreviations used in the report, ensuring consistent understanding of its content, covering company names, controlling shareholders, subsidiaries, and technical terms like GIS and CIM, while also specifying the reporting period - Defines abbreviations for the company (Zhengyuan Geo-Information), controlling shareholder (China Metallurgical Geology Bureau), and some subsidiaries (e.g., Zhengyuan Digital City, Suzhou Zhengyuan)[11](index=11&type=chunk) - Explains the meanings of core technical terms such as GIS (Geographic Information System) and CIM (City Information Model)[11](index=11&type=chunk) - Specifies the reporting period from January 1, 2025, to June 30, 2025, with the end of the reporting period being June 30, 2025[11](index=11&type=chunk) [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's fundamental information, contact details, information disclosure channels, stock particulars, and key financial performance indicators for the reporting period [I. Basic Company Information](index=5&type=section&id=I.%20Basic%20Company%20Information) This section introduces the company's basic information, including its Chinese name, abbreviation, legal representative, registered and office addresses, website, and email, noting a change in registered address in October 2024 - The company's Chinese name is Zhengyuan Geo-Information Group Co., Ltd., abbreviated as Zhengyuan Geo-Information[13](index=13&type=chunk) - The legal representative is Xin Yongqi[13](index=13&type=chunk) - The company's registered address changed in October 2024 to Floors 1-6, Building 1-1 to 9, Courtyard 3, Huihai Middle Road, Shunyi District, Beijing[13](index=13&type=chunk) [II. Contact Person and Contact Information](index=5&type=section&id=II.%20Contact%20Person%20and%20Contact%20Information) This section provides the names, contact addresses, telephone numbers, fax numbers, and email addresses of the company's Board Secretary and Securities Affairs Representative, facilitating communication for investors and relevant parties - The Board Secretary is Song Yance, and the Securities Affairs Representative is Yu Jiangbin[15](index=15&type=chunk) - The contact number is 010-50863173, and the email address is zyxp@cmgb.cn[15](index=15&type=chunk) [III. Information Disclosure and Changes in Document Custody Location](index=5&type=section&id=III.%20Information%20Disclosure%20and%20Changes%20in%20Document%20Custody%20Location) This section specifies the designated newspapers for company information disclosure, the website address for semi-annual reports, and the report custody location, ensuring transparency of information - The company's selected newspapers for information disclosure are China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily[16](index=16&type=chunk) - The website address for semi-annual reports is www.sse.com.cn[16](index=16&type=chunk) [IV. Overview of Company Shares/Depositary Receipts](index=5&type=section&id=IV.%20Overview%20of%20Company%20Shares%2FDepositary%20Receipts) This section outlines the basic information of the company's shares, including share type, listing exchange and board, stock abbreviation, and code, confirming the company's A-shares are listed on the STAR Market of the Shanghai Stock Exchange - The company's shares are A-shares, listed on the STAR Market of the Shanghai Stock Exchange[17](index=17&type=chunk) - The stock abbreviation is Zhengyuan Geo-Information, and the stock code is 688509[17](index=17&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=6&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section discloses the company's key accounting data and financial indicators for the current reporting period (January-June 2025), showing a 3.88% year-on-year decrease in operating revenue, but a 19.35% year-on-year narrowing of net loss attributable to shareholders, and reduced net cash outflow from operating activities Key Accounting Data for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 281.23 million RMB | 292.58 million RMB | -3.88 | | Total Profit | -56.66 million RMB | -67.78 million RMB | 16.41 (loss narrowed) | | Net Profit Attributable to Shareholders | -48.11 million RMB | -59.66 million RMB | 19.35 (loss narrowed) | | Net Cash Flow from Operating Activities | -122.89 million RMB | -176.59 million RMB | 30.41 (net outflow decreased) | | Net Assets Attributable to Shareholders (Period End) | 1.26 billion RMB | 1.31 billion RMB (Prior Year End) | -3.79 | | Total Assets (Period End) | 3.26 billion RMB | 3.44 billion RMB (Prior Year End) | -5.35 | Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | -0.06 | -0.08 | 25.00 (loss narrowed) | | Diluted Earnings Per Share (RMB/share) | -0.06 | -0.08 | 25.00 (loss narrowed) | | R&D Investment as % of Operating Revenue (%) | 8.61 | 9.06 | Decrease of 0.45 percentage points | - The decrease in operating revenue was primarily due to insufficient contract volume and project execution impacts, but the company reduced net cash outflow from operating activities by strictly controlling costs and expenses and strengthening cash flow management[20](index=20&type=chunk) [VIII. Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=VIII.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section lists the company's non-recurring gains and losses items and amounts for the current reporting period, totaling **RMB 1,770,538.63**, primarily including gains/losses from disposal of non-current assets and government subsidies Non-recurring Gains and Losses Items for H1 2025 | Non-recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Gains/losses from disposal of non-current assets, including reversal of asset impairment provisions | 1,416,390.56 | | Government grants recognized in current profit or loss, excluding those closely related to normal business operations, compliant with national policies, enjoyed under fixed standards, and having a continuous impact on the company's profit or loss | 725,726.60 | | Gains/losses from debt restructuring | -42,866.34 | | Other non-operating income and expenses apart from the above | 188,779.18 | | Less: Income tax impact | 362,550.44 | | Non-controlling interests impact (after tax) | 154,940.93 | | **Total** | **1,770,538.63** | [Section III Management Discussion and Analysis](index=9&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's industry landscape, operational strategies, core competencies, R&D progress, risk factors, and key financial performance during the reporting period [I. Industry and Main Business Overview during the Reporting Period](index=9&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20during%20the%20Reporting%20Period) This section details the thriving development, key characteristics, and technological barriers of China's geographic information industry, the company's leading position within it, and the evolution of new technologies, industries, business forms, and models during the reporting period, alongside the revenue composition and gross profit margins of its three main business segments: surveying and mapping geographic information, underground pipeline safety operation and maintenance, and smart city construction and operation - China's geographic information industry is experiencing robust growth, with an average annual compound growth rate exceeding **15%**, becoming a significant growth pole for the digital economy, driven by continuous demand from national strategies such as 'Real 3D China,' 'Urban Digital Twin,' and 'Low-Altitude Economy'[26](index=26&type=chunk) - The company is among the first national large-scale geographic information enterprises to obtain Class A surveying and mapping qualifications, possessing multiple high-level qualifications covering above-ground and underground full-space data acquisition, software development, and information system integration, serving a wide range of fields[28](index=28&type=chunk) - During the reporting period, new technology developments in the geographic information industry included the deep integration of domestic GIS with big data, artificial intelligence, and 3D processing, the popularization of Beidou high-precision positioning, and the provision of spatiotemporal intelligence technology for smart decision-making[31](index=31&type=chunk) - Emerging industries such as commercial aerospace (market expected to reach **RMB 340 billion by 2030**), low-altitude economy (actively developed by multiple provinces and cities), and intelligent connected vehicles (entering mass production in 2025) are bringing new growth points to the geographic information industry[32](index=32&type=chunk) Main Business Segment Revenue and Gross Profit Margin for H1 2025 | Business Segment | Operating Revenue (RMB 10,000) | Proportion of Main Business Revenue (%) | Gross Profit Margin (%) | Year-on-Year Increase/Decrease (percentage points) | | :--- | :--- | :--- | :--- | :--- | | Smart City | 5,420.48 | 19.64 | 30.77 | Increase of 9.45 (proportion) / Increase of 0.12 (gross profit margin) | | Underground Pipeline | 10,908.99 | 39.52 | 29.50 | Decrease of 14.48 (proportion) / Increase of 0.44 (gross profit margin) | | Surveying and Geographic Information | 11,274.95 | 40.84 | 24.85 | Increase of 5.04 (proportion) / Increase of 0.53 (gross profit margin) | [II. Discussion and Analysis of Operations](index=11&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) During the reporting period, the company continuously intensified technological and business model innovation, forming a '4+2' core business direction, actively expanding enterprise-side clients, and implementing a green and low-carbon strategy, adhering to a 'basic + strategic emerging' two-dimensional business structure and a 'government-side + enterprise-side' dual client structure, while focusing on strategic emerging tracks such as 'low-altitude economy x data elements x low-altitude applications' - The company gradually formed a '4+2' core business direction, including four fundamental core businesses: urban lifeline safety engineering, chemical industrial park safety capability enhancement, integrated urban operation management services, and digital transformation services for energy enterprises, along with two strategic emerging business directions: 'low-altitude economy + data asset governance and operation' and 'regional carbon governance + forestry safety prevention and control system construction'[36](index=36&type=chunk) - Focusing on expanding its dual client structure, the company strengthened its industrial layout in the major safety and emergency sectors, concentrating on the energy and chemical industry tracks, achieving deep collaboration with multiple central and state-owned enterprises, and gradually opening up the enterprise-side market[36](index=36&type=chunk) - The company developed 'dual carbon' informatization business, innovating carbon accounting theories and methods from low-carbon transition planning and design, carbon asset management, and carbon financial product innovation, to build a comprehensive carbon product system, progressively implementing its green and low-carbon strategy[36](index=36&type=chunk) - The company focuses on the strategic emerging track of 'low-altitude economy x data elements x low-altitude applications,' striving to build a low-altitude data element service supermarket serving governments, enterprises, and consumers[37](index=37&type=chunk) [III. Analysis of Core Competitiveness during the Reporting Period](index=11&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness%20during%20the%20Reporting%20Period) The company's core competitiveness lies in its full-space data operation capabilities, leading market position in the underground pipeline detection segment, and policy synergy effects from deeply implementing national strategies, possessing multiple core independent intellectual property rights and high-level qualifications, and holding important positions in various national and industry organizations - The company possesses full-space data operation capabilities, including integrated land, sea, air, and ground data acquisition technology, proprietary GIS platform and digital twin technology, and has released new data security protection products, with its technology reaching international leading levels[39](index=39&type=chunk) - The company leads the domestic market in the underground pipeline detection segment, forming a full-chain service technology system of 'detection-inspection-repair-operation and maintenance,' having completed underground pipeline informatization projects in over **300 cities** nationwide, and was recognized as a '12th Five-Year Plan' China Smart Pipeline leading enterprise[41](index=41&type=chunk) - The company is deeply involved in the Ministry of Natural Resources' 'Real 3D China' project, actively participates in industry technology and industrial research, and policy formulation, and leverages its controlling shareholder, the Geological Bureau's geological exploration background, to form differentiated competitiveness in areas such as mine surveying and mapping, and geological disaster monitoring[42](index=42&type=chunk) [III. (III) Core Technologies and R&D Progress](index=12&type=section&id=III.%20(III)%20Core%20Technologies%20and%20R%26D%20Progress) During the reporting period, based on **25 core technologies**, the company focused on smart mining, urban lifeline safety, and chemical enterprise safety supervision, deeply integrating AI and IoT technologies, completing iterative upgrades of **5 core technologies**, and obtaining multiple intellectual property rights, with total R&D investment of **RMB 24,222,826.17**, a year-on-year decrease of **8.65%** - In the smart mining sector, the company expanded disaster avoidance route planning technology based on underground roadway centerline data, with planned routes deviating by no more than **5%** from theoretically optimal routes, and upgraded GIS-based emergency command and dispatch technology, enhancing rescue response speed and decision-making scientificity[44](index=44&type=chunk) - In urban lifeline safety, the company upgraded real-time big data-based drainage pipeline network model technology (rainfall and flood evolution prediction accuracy exceeding **85%**) and water supply pipeline network model technology (leakage point localization error controlled within **3 meters**), effectively reducing water resource waste[45](index=45&type=chunk) - In chemical enterprise safety supervision, the company upgraded AI-based intelligent safety supervision technology, focusing on special operation scenarios, achieving real-time monitoring of **six types of gases** through IoT devices, combined with AI video behavior recognition, forming over **10 high-precision risk identification algorithms**[46](index=46&type=chunk) R&D Achievements for H1 2025 | Intellectual Property Type | New Applications in Current Period (units) | New Grants in Current Period (units) | Cumulative Grants (units) | | :--- | :--- | :--- | :--- | | Invention Patents | 7 | 2 | 32 | | Utility Model Patents | 0 | 0 | 48 | | Design Patents | 0 | 0 | 23 | | Software Copyrights | 25 | 21 | 965 | | **Total** | **32** | **23** | **1,068** | R&D Investment for H1 2025 | Indicator | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 24,222,826.17 | 26,516,962.95 | -9.09 | | R&D Investment as % of Operating Revenue (%) | 8.61 | 9.06 | Decrease of 0.45 percentage points | - The company has **16 R&D projects** underway, with an estimated total investment of **RMB 64.92 million**, and **RMB 13.99 million** invested in the current period, covering cutting-edge fields such as AI image intelligent interpretation, AI large model urban governance, regional carbon asset management, smart factories, and spatiotemporal digital twin intelligent technology, with most technologies at a domestic leading or advanced level[52](index=52&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) R&D Personnel for H1 2025 | Indicator | Current Period Amount | Prior Year Period Amount | | :--- | :--- | :--- | | Number of Company R&D Personnel (persons) | 281 | 269 | | R&D Personnel as % of Total Company Personnel (%) | 16.73 | 13.10 | | Total R&D Personnel Compensation (RMB 10,000) | 2,165.46 | 2,117.84 | [IV. Risk Factors](index=21&type=section&id=IV.%20Risk%20Factors) The company faces multiple risks including significant performance decline or loss, challenges to core competitiveness from technological updates, intensified market competition, insufficient liquidity, and macroeconomic and policy uncertainties, as the geographic information industry experiences accelerated technological iteration, shrinking traditional surveying and mapping markets, and fierce competition in new sectors, posing challenges to its sustainable development - The company faces risks of significant performance decline or loss, primarily due to the macroeconomic and industry market environment, with tightened client budgets and delayed project bidding, leading to a year-on-year decrease in operating revenue[60](index=60&type=chunk) - Core competitiveness risks stem from the technology-intensive nature of the geographic information and smart city industries, where rapid technological updates mean that if the company's products or services fail to keep pace with the market, it could lead to a decline in market share[60](index=60&type=chunk) - Operational risks include fierce competition in the traditional surveying and mapping market, active entry of technology giants and innovative enterprises into the geographic information service sector, and a fragmented competitive landscape with continuously rising technological barriers in the underground pipeline and smart city industries[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) - Financial risks primarily manifest as net cash outflow from operating activities; if accounts receivable cannot be collected promptly or bank loans tighten, the company may face liquidity shortages[63](index=63&type=chunk) - Industry risks include strong policy dependence, potential impact of local fiscal pressure on project implementation, overcapacity in traditional surveying and mapping coupled with fierce competition in new sectors, and technological substitution pressure from accelerated penetration of technologies like AI large models[63](index=63&type=chunk) - Macroeconomic environment risks are reflected in uncertainties such as low global economic performance, reduced local government investment in smart cities, and immature marketization mechanisms for data elements, which could lead to decreased market demand and intensified competition[64](index=64&type=chunk) [V. Key Operating Performance during the Reporting Period](index=22&type=section&id=V.%20Key%20Operating%20Performance%20during%20the%20Reporting%20Period) During the reporting period, the company's operating revenue decreased by **3.88%** year-on-year, but net loss attributable to parent company shareholders narrowed by **19.35%** year-on-year; financial statement analysis shows decreased operating revenue and costs, controlled selling and administrative expenses, increased financial expenses, and reduced net cash outflow from operating activities, while on the asset and liability side, monetary funds significantly decreased, and inventories and contract liabilities substantially increased Key Operating Performance for H1 2025 | Indicator | Amount (RMB 10,000) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 28,122.56 | -3.88 | | Net Profit Attributable to Parent Company Shareholders | -4,811.15 | 19.35 (loss narrowed) | | Net Profit Attributable to Parent Company Shareholders Excluding Non-recurring Gains and Losses | -4,988.20 | 21.42 (loss narrowed) | | Basic Earnings Per Share (RMB) | -0.06 | 25.00 (loss narrowed) | Changes in Financial Statement Items for H1 2025 | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | -3.88 | Decrease in revenue scale due to insufficient contract volume and project execution impacts | | Operating Costs | -4.90 | Decrease in operating costs due to year-on-year decrease in operating revenue | | Selling Expenses | -16.00 | Decrease in selling expenses compared to prior year period due to strict control of costs and expenses | | Administrative Expenses | -10.42 | Decrease in administrative expenses compared to prior year period due to strict control of costs and expenses | | Financial Expenses | 376.95 | Increase due to decrease in unrealized financing income from interest income on PPP projects recognized in financial expenses | | R&D Expenses | -8.65 | Decrease in R&D expenses compared to prior year period due to changes in expense allocation across different R&D project stages | | Net Cash Flow from Operating Activities | 30.41 | Decrease in net cash outflow from operating activities due to continuous strengthening of cash flow management | | Net Cash Flow from Financing Activities | -117.31 | Primarily due to repayment of bank loans in the current period | Key Changes in Balance Sheet Status as of Report End 2025 | Item Name | Current Period End Amount (RMB) | Prior Year End Amount (RMB) | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 89,800,928.49 | 277,359,224.65 | -67.62 | Net cash outflow from operating activities in the current year led to a decrease in monetary funds | | Inventories | 31,349,849.94 | 8,453,418.52 | 270.85 | Increase in costs incurred for uninstalled equipment and customized software projects | | Contract Liabilities | 29,002,786.45 | 17,374,404.78 | 66.93 | Impact of unexpired project prepayments not yet recognized as revenue | | Lease Liabilities | 2,963,951.43 | 5,866,415.26 | -49.48 | Impact of decreased lease payments in the current period | Major Asset Restrictions as of Report End | Item | Period End Book Value (RMB) | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 9,833,686.98 | Bank acceptance bills, letters of guarantee, other security deposits, and frozen funds due to litigation | | Accounts Receivable | 82,190,698.70 | Pledged for long-term borrowings for Suzhou and Changting PPP projects | | Fixed Assets | 31,889,694.15 | Mortgaged for short-term borrowings | | Investment Properties | 7,220,915.47 | Mortgaged for short-term borrowings | | Non-current Assets Due Within One Year | 66,629,485.57 | Pledged for long-term borrowings for Suzhou and Changting PPP projects | | Other Non-current Assets | 232,064,966.24 | Pledged for long-term borrowings for Suzhou and Changting PPP projects | - During the reporting period, the company's investment amounted to **RMB 20.18 million**, a year-on-year increase of **3857.71%**, primarily due to the acquisition of a **40% equity stake** in Suzhou Zhengyuan held by Xubao Capital[74](index=74&type=chunk) [Section IV Corporate Governance, Environment and Society](index=29&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%20and%20Society) This section details changes in the company's governance structure, including personnel adjustments, outlines its profit distribution policy, and highlights its significant contributions to social responsibility initiatives like poverty alleviation and rural revitalization [I. Changes in Directors, Supervisors, Senior Management, and Core Technical Personnel](index=29&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) During the reporting period, there were several changes among the company's directors, supervisors, and senior management, including the departure of CFO Lei Huidong and the appointment of Xiao Jie, the departure of employee representative supervisor Hua Haibo and the election of Zhang Hongbo, and the appointment of Zhu Xiangtai as Deputy General Manager; the company's core technical personnel identification criteria remained unchanged, with **11 existing core technical personnel** Changes in Directors, Supervisors, and Senior Management for H1 2025 | Name | Position Held | Change Type | | :--- | :--- | :--- | | Lei Huidong | Chief Financial Officer | Departure | | Hua Haibo | Employee Representative Supervisor | Departure | | Zhang Hongbo | Employee Representative Supervisor | Election | | Zhu Xiangtai | Deputy General Manager | Appointment | | Xiao Jie | Chief Financial Officer | Appointment | - Explanation of core technical personnel identification: During the reporting period, the company's criteria for identifying core technical personnel remained unchanged, with **11 existing core technical personnel**[84](index=84&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=29&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company has no profit distribution plan or capital reserve to share capital conversion plan for this semi-annual period - The profit distribution plan or capital reserve to share capital conversion plan approved by the Board of Directors for this reporting period is 'none'[85](index=85&type=chunk) [III. Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures and Their Impact](index=29&type=section&id=III.%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures%20and%20Their%20Impact) The company's 2023 Restricted Stock Incentive Plan had no further progress during the reporting period - Matters related to the company's 2023 Restricted Stock Incentive Plan were reviewed and disclosed on December 29, 2023, with no progress on this matter during the reporting period[87](index=87&type=chunk) [V. Specific Progress in Consolidating Poverty Alleviation Achievements and Rural Revitalization](index=30&type=section&id=V.%20Specific%20Progress%20in%20Consolidating%20Poverty%20Alleviation%20Achievements%20and%20Rural%20Revitalization) The company actively fulfills its social responsibilities by participating in consumer assistance activities for poverty alleviation; undertaking multiple natural resource and pipeline detection projects in Xinjiang and Qinghai; applying geographic information technology to cultivated land protection and high-standard farmland construction for rural revitalization; and actively cooperating with government flood control and disaster relief efforts to enhance urban comprehensive governance capabilities - In poverty alleviation and assistance, the company organized and participated in 'Workwear Aid to Xinjiang,' 'Central SOE Consumer Assistance for Rural Revitalization Week,' and 'Consumer Assistance Spring Festival Action' activities, mobilizing employees to purchase agricultural and sideline products from assisted regions[88](index=88&type=chunk) - In aid to Xinjiang and Qinghai, the company undertook urban-level real 3D construction projects in Altay Prefecture, Xinjiang Uygur Autonomous Region, underground comprehensive pipeline detection technical service projects in Xinhe County, and land change survey and monitoring projects in Qinghai Province[88](index=88&type=chunk) - In supporting rural revitalization, the company leveraged its advantages in the geographic information industry, applying smart management and monitoring methods to cultivated land protection, high-standard farmland improvement, and other areas, undertaking projects such as the high-standard farmland construction mapping and database entry project in Laixi City, Qingdao, Shandong Province[89](index=89&type=chunk) - In emergency response, the company actively participated in local flood fighting, emergency rescue, and disaster relief efforts, utilizing its personnel, technology, and equipment advantages to help mitigate urban waterlogging risks and safeguard people's lives and property[89](index=89&type=chunk) [Section V Significant Matters](index=31&type=section&id=Section%20V%20Significant%20Matters) This section covers the company's fulfillment of various commitments, details significant litigation and arbitration cases, outlines major related-party transactions, and reports on the performance of significant contracts and guarantees [I. Fulfillment of Commitments](index=31&type=section&id=I.%20Fulfillment%20of%20Commitments) This section details the fulfillment of various commitments made by the company's actual controller, shareholders, directors, supervisors, senior management, and the company itself, both during and continuing into the reporting period, primarily concerning share lock-ups, resolution of related-party transactions and horizontal competition, profit distribution, share price stabilization, and fraudulent issuance buybacks, with all commitments strictly adhered to - Controlling shareholder China Metallurgical Geology Bureau committed to a **36-month** share lock-up, with a reduction price no lower than the offering price within two years after the lock-up period expires; it has voluntarily extended the lock-up period by **12 months** to July 30, 2026[91](index=91&type=chunk)[92](index=92&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk) - All company directors, supervisors, and senior management committed to a **12-month** share lock-up, and to not transfer more than **25%** of the total shares directly or indirectly held by them annually during their tenure[93](index=93&type=chunk) - The controlling shareholder and shareholders holding **5% or more** of the shares have all committed to minimize related-party transactions with the company and its controlled enterprises, and to strictly follow related-party transaction decision-making procedures to ensure fair pricing[93](index=93&type=chunk)[94](index=94&type=chunk) - The controlling shareholder committed to resolve horizontal competition issues, urging **six competing units** under its control to gradually withdraw from surveying and mapping geographic information and underground pipeline service businesses, and to ensure they no longer engage in related businesses within two years from the listing date through acquisition, transfer, or cancellation[95](index=95&type=chunk) - The company committed to a profit distribution policy for the first three years after listing, prioritizing cash dividends, and under eligible conditions, the annual cash dividend should not be less than **20%** of the distributable profit achieved in that year[96](index=96&type=chunk)[97](index=97&type=chunk) - The company committed to implement share repurchase measures to stabilize its stock price if the closing price for **20 consecutive trading days** is below the audited net asset value per share for the most recent year, with the repurchase price not exceeding the most recent audited net asset value per share[98](index=98&type=chunk) [VII. Significant Litigation and Arbitration Matters](index=50&type=section&id=VII.%20Significant%20Litigation%20and%20Arbitration%20Matters) During the reporting period, the company was involved in significant litigation and arbitration matters, including a contract dispute arbitration case with Chen Barag Banner Bureau of Industry and Information Technology (already ruled but not fully executed) and a lawsuit for outstanding contract payments with Fuyang Urban and Rural Construction Bureau (already heard but not yet judged) - The company and its consortium partner Inner Mongolia Broadcasting and Television Network Group Co., Ltd. filed for arbitration with the Hulunbuir Arbitration Commission regarding a contract dispute with Chen Barag Banner Bureau of Industry and Information Technology, and have received the 'Arbitration Award,' but the respondent has not yet fully complied with the ruling[111](index=111&type=chunk) - The company filed a lawsuit against Fuyang Urban and Rural Construction Bureau with the Yingzhou District People's Court of Fuyang City regarding outstanding contract payments; the case has been heard but no judgment has been rendered yet[111](index=111&type=chunk) [X. Significant Related-Party Transactions](index=50&type=section&id=X.%20Significant%20Related-Party%20Transactions) During the reporting period, the company engaged in a significant related-party transaction, acquiring a **40% equity stake** in Suzhou Zhengyuan held by Xubao Capital for a transaction price of **RMB 40.37 million**, with **50%** of the equity transfer payment already made - In December 2024, the company acquired a **40% equity stake** in Suzhou Zhengyuan held by Xubao Capital for a transaction price of **RMB 40.37 million**, and as of now, **50%** of the equity transfer payment, or **RMB 20.18 million**, has been made[113](index=113&type=chunk) [XI. Significant Contracts and Their Performance](index=52&type=section&id=XI.%20Significant%20Contracts%20and%20Their%20Performance) The company has leasing arrangements, acting as a lessee for office buildings from China Metallurgical Geology Bureau, with a lease income of **-RMB 3,010,614.63** for the current period; the total guarantee balance provided by the company and its subsidiaries to subsidiaries is **RMB 162,276,140.13**, accounting for **12.08%** of the company's net assets Leasing Situation for H1 2025 | Leased Asset Name | Lessor Name | Lease Start Date | Lease End Date | Lease Income for Current Period (RMB) | | :--- | :--- | :--- | :--- | :--- | | Office Building | China Metallurgical Geology Bureau | 2024/1/1 | 2026/12/31 | -3,010,614.63 | Total Company Guarantees for H1 2025 | Indicator | Amount (RMB) | Proportion of Company Net Assets (%) | | :--- | :--- | :--- | | Total Guarantees (A+B) | 162,276,140.13 | 12.08 | | Debt Guarantees Provided Directly or Indirectly for Guaranteed Parties with Asset-Liability Ratio Exceeding 70% (D) | 131,575,979.48 | - | [Section VI Share Changes and Shareholder Information](index=56&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section details the company's share capital stability, the voluntary extension of the lock-up period by the controlling shareholder, and provides an overview of the shareholder structure, including the top ten shareholders [I. Changes in Share Capital](index=56&type=section&id=I.%20Changes%20in%20Share%20Capital) During the reporting period, there were no changes in the company's total ordinary share capital or share structure; controlling shareholder China Metallurgical Geology Bureau voluntarily extended the lock-up period for its pre-IPO shares by **12 months** to July 30, 2026, involving **385,207,800 shares**, accounting for **50.03%** of the total share capital - During the reporting period, there were no changes in the company's total ordinary share capital or share structure[125](index=125&type=chunk) - The company's controlling shareholder, China Metallurgical Geology Bureau, voluntarily extended the lock-up period for its pre-IPO shares by another **12 months** to July 30, 2026[126](index=126&type=chunk) Changes in Restricted Shares of Controlling Shareholder | Shareholder Name | Restricted Shares at Period Start | Restricted Shares at Report End | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | | China Metallurgical Geology Bureau | 385,207,800 | 385,207,800 | IPO Restriction, Extended Lock-up Period | 2026/7/30 | [II. Shareholder Information](index=56&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the total number of ordinary shareholders was **12,624**; among the top ten shareholders, China Metallurgical Geology Bureau held **50.03%** of the shares, serving as the controlling shareholder, with some top ten shareholders holding shares through both ordinary and margin trading accounts Total Ordinary Shareholders as of Report End | Indicator | Quantity (households) | | :--- | :--- | | Total Ordinary Shareholders as of Report End | 12,624 | Top Ten Shareholders' Holdings as of Report End | Shareholder Name | Period End Shareholding (shares) | Proportion (%) | Nature of Shares | | :--- | :--- | :--- | :--- | | China Metallurgical Geology Bureau | 385,207,800 | 50.03 | State-owned Legal Person | | Yanjian Group Co., Ltd. | 18,288,922 | 2.38 | Other | | Wu Peixia | 6,850,000 | 0.89 | Domestic Natural Person | | Yu Wende | 6,800,000 | 0.88 | Domestic Natural Person | | Zou Yongde | 6,018,038 | 0.78 | Domestic Natural Person | - Among the top ten shareholders, Yu Wende, Zou Yongde, Yu Peibo, Liang Yiqiang, and Fu Zhenyu held shares through both ordinary securities accounts and margin trading and securities lending accounts[131](index=131&type=chunk) [III. Information on Directors, Supervisors, Senior Management, and Core Technical Personnel](index=59&type=section&id=III.%20Information%20on%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) This section does not disclose changes in shareholdings or equity incentive plans for directors, supervisors, senior management, and core technical personnel [Section VII Bond-Related Information](index=60&type=section&id=Section%20VII%20Bond-Related%20Information) This section indicates that there is no information disclosed regarding the company's corporate bonds, enterprise bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds [I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=60&type=section&id=I.%20Corporate%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) This section does not disclose information regarding corporate bonds (including enterprise bonds) and non-financial enterprise debt financing instruments [II. Convertible Corporate Bonds](index=60&type=section&id=II.%20Convertible%20Corporate%20Bonds) This section does not disclose information regarding convertible corporate bonds [Section VIII Financial Report](index=61&type=section&id=Section%20VIII%20Financial%20Report) This section presents the company's unaudited semi-annual financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes on accounting policies, taxation, and specific financial items [I. Audit Report](index=61&type=section&id=I.%20Audit%20Report) This semi-annual report is unaudited - This semi-annual report is unaudited[5](index=5&type=chunk) [II. Financial Statements](index=61&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for H1 2025, comprehensively presenting the company's financial position, operating results, and cash flow - Financial statements include consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated cash flow statement, parent company cash flow statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[141](index=141&type=chunk)[144](index=144&type=chunk)[147](index=147&type=chunk)[151](index=151&type=chunk)[154](index=154&type=chunk)[157](index=157&type=chunk)[160](index=160&type=chunk)[163](index=163&type=chunk)[166](index=166&type=chunk)[169](index=169&type=chunk)[172](index=172&type=chunk) [III. Basic Company Information](index=81&type=section&id=III.%20Basic%20Company%20Information) This section introduces the overview of Zhengyuan Geo-Information Group Co., Ltd., including its predecessor, registration and establishment time, changes in registered capital, listing status, and main business composition, which includes above-ground and underground full-space geographic spatiotemporal data construction services (foundational business) and smart city business (value-added business) - The company's predecessor was Zhengyuan Geo-Information Co., Ltd., registered with the Beijing Administration for Market Regulation on December 28, 2018, and wholly converted into a joint-stock company with a registered capital of **RMB 600 million**[173](index=173&type=chunk) - On July 30, 2021, the company publicly issued **170 million** RMB ordinary shares (A-shares) to the public, and its registered capital changed to **RMB 770 million**[173](index=173&type=chunk) - The company's main business consists of three segments: surveying and mapping geographic information, underground pipeline safety operation and maintenance, and smart city construction and operation, with above-ground and underground full-space geographic spatiotemporal data construction services as foundational business and smart city business as value-added business[174](index=174&type=chunk) [IV. Basis of Financial Statement Preparation](index=81&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) This section explains that the financial statements are prepared in accordance with the 'Accounting Standards for Business Enterprises' issued by the Ministry of Finance, presented on a going concern basis, and measured at historical cost; the company assesses that there are no significant doubts about its ability to continue as a going concern for **12 months** from the end of the reporting period - These financial statements are prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance, their application guidance, interpretations, and other relevant regulations, and are presented on a going concern basis[175](index=175&type=chunk) - The company assesses that there are no significant doubts or factors regarding its ability to continue as a going concern for **12 months** from the end of the reporting period[176](index=176&type=chunk) [V. Significant Accounting Policies and Estimates](index=81&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section elaborates on the company's specific accounting policies and estimates regarding financial instruments, revenue recognition, impairment of long-term assets, employee compensation, provisions, share-based payments, government grants, deferred tax assets/liabilities, and leases, ensuring the accuracy and compliance of financial reporting - Upon initial recognition, the company classifies financial assets into three categories—measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss—based on the business model for managing financial assets and the contractual cash flow characteristics of the financial assets[192](index=192&type=chunk) - Revenue recognition principles are based on assessing contracts at the contract inception date, identifying individual performance obligations, and determining whether they are satisfied over time or at a point in time, subsequently recognizing revenue according to the progress of satisfaction or when the customer obtains control[253](index=253&type=chunk)[254](index=254&type=chunk) - The company applies impairment accounting based on expected credit losses for financial assets measured at amortized cost, financial assets classified as measured at fair value through other comprehensive income, contract assets, lease receivables, and financial guarantee contracts not measured at fair value through profit or loss[200](index=200&type=chunk) - The company accrues safety production fees in accordance with the 'Administrative Measures for the Extraction and Use of Enterprise Safety Production Fees' jointly issued by the Ministry of Finance and the Ministry of Emergency Management, which are recognized in the cost of related products or current profit and loss, and simultaneously recorded in the 'Special Reserve' account[268](index=268&type=chunk) [VI. Taxation](index=101&type=section&id=VI.%20Taxation) This section discloses the company's main tax categories and rates, including VAT, property tax, urban maintenance and construction tax, education surcharge, local education surcharge, and corporate income tax, with the company and some subsidiaries enjoying high-tech enterprise income tax benefits (**15%**) or small and micro-enterprise income tax benefits Main Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | Value-Added Tax | 5%, 6%, 9%, 13% | | Property Tax | 1.2%, 12% | | Urban Maintenance and Construction Tax | 5%, 7% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | | Corporate Income Tax | 15%, 20%, 25% | - The company and its relevant subsidiaries within the group are recognized as high-tech enterprises in accordance with the relevant provisions of the 'Enterprise Income Tax Law of the People's Republic of China,' with an applicable corporate income tax rate of **15%** for the year 2024[277](index=277&type=chunk) - For subsidiaries of the company that meet the criteria for small and micro-enterprises, the portion of taxable income not exceeding **RMB 3 million** for the year 2024 is included in taxable income at **25%** and subject to corporate income tax at a rate of **20%**[277](index=277&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=103&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes for each item in the consolidated financial statements, including monetary funds, notes receivable, accounts receivable, contract assets, inventories, long-term equity investments, fixed assets, intangible assets, short-term borrowings, accounts payable, contract liabilities, employee compensation payable, taxes payable, other payables, long-term borrowings, lease liabilities, share capital, capital reserves, special reserves, undistributed profits, operating revenue and costs, taxes and surcharges, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, asset disposal gains/losses, credit impairment losses, asset impairment losses, non-operating income and expenses, income tax expenses, and cash flow statement items Composition of Monetary Funds | Item | Period End Balance (RMB) | Period Start Balance (RMB) | | :--- | :--- | :--- | | Bank Deposits | 79,967,241.51 | 264,776,690.78 | | Other Monetary Funds | 9,833,686.98 | 12,582,533.87 | | **Total** | **89,800,928.49** | **277,359,224.65** | Aging Analysis of Accounts Receivable (Period End) | Aging | Period End Book Balance (RMB) | | :--- | :--- | | Not Overdue | 177,156,164.53 | | Overdue within 1 year | 238,348,479.81 | | Overdue 1-2 years | 112,814,080.84 | | Overdue 2-3 years | 131,235,443.31 | | Overdue 3-4 years | 77,861,874.84 | | Overdue 4-5 years | 70,065,044.48 | | Overdue over 5 years | 107,391,752.09 | | **Total** | **914,872,839.90** | Contract Assets Classified by Customer Type (Period End) | Category | Book Balance (RMB) | Impairment Provision (RMB) | Book Value (RMB) | | :--- | :--- | :--- | :--- | | Government and its Departments | 1,148,861,798.42 | 226,728,473.81 | 922,133,324.61 | | State-owned Enterprises and Public Institutions | 729,796,087.81 | 129,383,280.66 | 600,412,807.15 | | Other Enterprises | 167,149,762.79 | 50,442,615.14 | 116,707,147.65 | | **Total** | **2,045,807,649.02** | **406,554,369.61** | **1,639,253,279.41** | Operating Revenue and Operating Costs for H1 2025 | Item | Revenue (RMB) | Costs (RMB) | | :--- | :--- | :--- | | Main Business | 276,044,178.00 | 199,176,265.95 | | Other Business | 5,181,430.90 | 2,050,311.86 | | **Total** | **281,225,608.90** | **201,226,577.81** | Breakdown of Main Business Revenue by Product Type for H1 2025 | Product Type | Operating Revenue (RMB) | Operating Costs (RMB) | | :--- | :--- | :--- | | Surveying and Geographic Information | 112,749,486.21 | 84,735,817.11 | | Pipeline Operation and Maintenance Services | 109,089,881.86 | 76,911,999.53 | | Smart City | 54,204,809.93 | 37,528,449.31 | [VIII. R&D Expenses](index=155&type=section&id=VIII.%20R%26D%20Expenses) During the reporting period, the company's expensed R&D investment was **RMB 24,222,826.17**, primarily comprising employee compensation, travel expenses, depreciation and amortization, and other costs, showing a year-on-year decrease Composition of R&D Expenses for H1 2025 | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Employee Compensation | 21,654,568.70 | 21,178,367.86 | | Collaborative R&D Fees | 27,843.31 | 108,292.70 | | Travel Expenses | 735,601.58 | 711,373.52 | | Depreciation and Amortization | 665,805.96 | 652,100.68 | | Material Costs | 464,450.26 | 1,920,409.77 | | Office Expenses | 131,307.54 | 725,983.03 | | Rent, Utilities, Heating, Property Management Fees | 107,129.59 | 200,218.09 | | Intellectual Property Fees | 45,662.72 | - | | Other | 390,456.51 | 1,020,217.30 | | **Total** | **24,222,826.17** | **26,516,962.95** | [IX. Changes in Consolidation Scope](index=156&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) This section does not disclose changes in the scope of consolidation due to business combinations not under common control, business combinations under common control, reverse acquisitions, disposal of subsidiaries, or other reasons [X. Interests in Other Entities](index=157&type=section&id=X.%20Interests%20in%20Other%20Entities) This section details the company's interests in subsidiaries, joint ventures, and associates, including the composition of the enterprise group, key non-wholly owned subsidiaries and their main financial information, and key associates' main financial information - The company owns multiple wholly-owned and controlled subsidiaries, with business natures covering surveying and mapping geographic information services and smart city construction and operation, and registered capital ranging from **RMB 3 million** to **RMB 78.67 million**[464](index=464&type=chunk)[465](index=465&type=chunk)[466](index=466&type=chunk) Significant Non-Wholly Owned Subsidiaries and Their Non-controlling Interests | Subsidiary Name | Non-controlling Interest Shareholding (%) | Profit/Loss Attributable to Non-controlling Interests for Current Period (RMB) | Dividends Declared to Non-controlling Interests for Current Period (RMB) | Non-controlling Interests Balance at Period End (RMB) | | :--- | :--- | :--- | :--- | :--- | | Hainan Zhengyuan Information Technology Co., Ltd. | 30.00 | -38,017.27 | - | 4,560,767.71 | | Hebei Digital Construction Technology Co., Ltd. | 49.00 | 61,697.38 | - | 1,051,193.52 | | Suzhou Zhengyuan Smart City Construction and Operation Co., Ltd. | 20.00 | -733,352.91 | - | 18,763,438.98 | | Changting Zhengyuan Smart City Construction and Operation Co., Ltd. | 36.00 | 257,547.76 | 334,869.98 | 23,606,628.01 | | Yutai Zhengyuan Smart City Information Technology Co., Ltd. | 5.00 | -255,882.83 | - | 926,125.03 | | Shandong Zhengyuan Digital City Construction Co., Ltd. | 49.00 | -3,545,624.38 | - | 37,546,337.00 | | Zhejiang Huicheng Digital Technology Information Technology Co., Ltd. | 49.00 | 980,016.07 | - | - | Key Financial Information of Significant Associates (Period End Balance) | Item | Qingdao Zhongchuang Space Information Technology Co., Ltd. (RMB) | Fujian Haisizhengyuan Information Technology Co., Ltd. (RMB) | | :--- | :--- | :--- | | Total Assets | 13,505,582.63 | 11,276,034.91 | | Total Liabilities | 5,529,687.16 | 701,770.23 | | Equity Attributable to Parent Company Shareholders | 7,975,895.47 | 10,574,264.68 | | Operating Revenue | 848,963.75 | 1,088,293.17 | | Net Profit | -186,500.00 | 92,216.91 | [XI. Government Grants](index=167&type=section&id=XI.%20Government%20Grants) During the reporting period, the total government grants recognized in profit or loss amounted to **RMB 835,650.08**, primarily consisting of income-related government grants Government Grants Recognized in Profit or Loss for H1 2025 | Type | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Asset-related | - | 1,370,224.98 | | Income-related | 835,650.08 | 1,307,358.24 | | **Total** | **835,650.08** | **2,677,583.22** | [XII. Risks Related to Financial Instruments](index=168&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) The company faces credit risk, liquidity risk, and market risk (primarily interest rate risk), which it manages by depositing funds with highly-rated financial institutions, strengthening receivables management, utilizing diverse financing methods, and monitoring its capital structure; the asset-liability ratio at period-end was **58.73%** - The company's credit risk primarily arises from monetary funds and accounts receivable, controlled by depositing bank deposits and other monetary funds with highly-rated financial institutions, and by conducting credit assessments and dynamic monitoring of accounts receivable[486](index=486&type=chunk)[487](index=487&type=chunk) - The company controls liquidity risk by comprehensively utilizing various financing methods such as bill settlement and bank loans, and by appropriately combining long-term and short-term financing to maintain a balance between financing continuity and flexibility[487](index=487&type=chunk) - The company manages interest rate risk by determining the proportion of fixed-rate and floating-rate financial instruments based on market conditions, and by maintaining an appropriate portfolio of financial instruments through regular review and monitoring[488](index=488&type=chunk) Capital Management Indicators | Indicator | Period End | Prior Year End | | :--- | :--- | :--- | | Asset-Liability Ratio (%) | 58.73 | 58.23 | [XIII. Disclosure of Fair Value](index=170&type=section&id=XIII.%20Disclosure%20of%20Fair%20Value) This section does not disclose information such as the fair value of assets and liabilities measured at fair value at the end of the period, the basis for determining market prices of recurring and non-recurring fair value measurement items, valuation techniques, and significant parameters [XIV. Related Parties and Related-Party Transactions](index=171&type=section&id=XIV.%20Related%20Parties%20and%20Related-Party%20Transactions) This section details the company's parent company, subsidiaries, joint ventures, associates, and other related parties, with related-party transactions primarily including purchases/sales of goods/acceptance of services, related-party leases, and related-party guarantees, and lists outstanding balances of receivables and payables with related parties - The company's ultimate controlling party is China Metallurgical Geology Bureau, with a shareholding and voting rights ratio of **50.03%** in the enterprise[492](index=492&type=chunk) Related-Party Transactions for Purchases of Goods/Acceptance of Services for H1 2025 | Related Party | Related Transaction Content | Amount for Current Period (RMB) | | :--- | :--- | :--- | | China Metallurgical First Bureau (Hebei) Electric Power Co., Ltd. | Purchase of Goods | 19,427.42 | | Sanhe Jinyuan Property Service Co., Ltd. | Acceptance of Services | 291,155.24 | | Shandong Metallurgical Technician College | Acceptance of Services | 77,669.90 | | Shandong Zhengyuan Property Co., Ltd. | Acceptance of Services | 579,356.96 | | China Metallurgical Geology Bureau First Bureau 520 Team | Acceptance of Services | 94,339.62 | Related-Party Transactions for Sales of Goods/Provision of Services for H1 2025 | Related Party | Related Transaction Content | Amount for Current Period (RMB) | | :--- | :--- | :--- | | Shandong Zhengyuan Construction Engineering Co., Ltd. | Provision of Services | 81,901.96 | | Shandong Zhengyuan Geological Engineering Co., Ltd. | Provision of Services | 13,273.12 | | China Metallurgical Geology Bureau Shandong Bureau Third Team | Provision of Services | 51,628.51 | | China Metallurgical Huaya Construction Group Co., Ltd. | Provision of Services | 91,856.65 | Related-Party Fund Borrowing (Inflow) for H1 2025 | Related Party | Borrowing Amount (RMB) | Start Date | Due Date | | :--- | :--- | :--- | :--- | | Changting County State-owned Investment Group Co., Ltd. | 910,000.00 | 2022/11/4 | 2025/6/30 | | Changting County State-owned Investment Group Co., Ltd. | 620,000.00 | 2024/11/1 | 2025/10/31 | | Changting County State-owned Investment Group Co., Ltd. | 1,000,000.00 | 2024/11/22 | 2025/10/31 | Receivables from Related Parties (Partial) for H1 2025 | Item Name | Related Party | Period End Book Balance (RMB) | | :--- | :--- | :--- | | Accounts Receivable | Shandong Zhengyuan Construction Engineering Co., Ltd. | 1,612,091.64 | | Contract Assets | China Metallurgical Huaya Construction Group Co., Ltd. | 20,869,799.93 | | Other Payables | China Metallurgical Geology Bureau | 91,368,980.83 | [XV. Share-based Payment](index=179&type=section&id=XV.%20Share-based%20Payment) This section does not disclose information on equity instruments, equity-settled share-based payments, cash-settled share-based payments, share-based payment expenses for the current period, or modifications and terminations of share-based payments [XVI. Commitments and Contingencies](index=179&type=section&id=XVI.%20Commitments%20and%20Contingencies) This section does not disclose significant commitments and contingencies [XVII. Events After the Balance Sheet Date](index=180&type=section&id=XVII.%20Events%20After%20the%20Balance%20Sheet%20Date) This section does not disclose significant non-adjusting events, profit distribution, sales returns, or other events after the balance sheet date [XVIII. Other Significant Matters](index=180&type=section&id=XVIII.%20Other%20Significant%20Matters) This section does not disclose other significant matters such as prior period accounting error corrections, major debt restructurings, asset exchanges, annuity plans, or discontinued operations; the company does not have diversified or cross-regional operations, thus no reportable segments, but main business revenue and costs are categorized by business nature - The company does not have diversified or cross-regional operations, thus no reportable segments[516](index=516&type=chunk) Main Business Revenue and Costs for January-June 2025 (by Business Nature) | Item | Main Business Revenue (RMB) | Main Business Costs (RMB) | | :--- | :--- | :--- | | Surveying and Geographic Information Segment Business | 112,749,486.21 | 84,735,817.11 | | Underground Pipeline Segment Business | 109,089,881.86 | 76,911,999.53 | | Smart City Segment Business | 54,204,809.93 | 37,528,449.31 | | **Subtotal** | **276,044,178.00** | **199,176,265.95** | [XIX. Notes to Parent Company Financial Statement Items](index=181&type=section&id=XIX.%20Notes%20to%20Parent%20Company%20Financial%20Statement%20Items) This section provides detailed notes for key items in the parent company's financial statements, including accounts receivable, other receivables, long-term equity investments, operating revenue and costs, and investment income Aging Analysis of Parent Company Accounts Receivable (Period End) | Aging | Period End Book Balance (RMB) | | :--- | :--- | | Not Overdue | 69,283,847.78 | | Overdue within 1 year | 52,863,622.39 | | Overdue 1-2 years | 20,707,293.02 | | Overdue 2-3 years | 22,149,764.95 | | Overdue 3-4 years | 23,657,601.22 | | Overdue 4-5 years | 12,026,785.69 | | Overdue over 5 years | 27,699,544.97 | | **Total** | **228,388,460.02** | Parent Company Other Receivables Classified by Nature of Payment (Period End) | Nature of Payment | Period End Book Balance (RMB) | | :--- | :--- | | Deposits, Guarantees | 72,495,958.72 | | Petty Cash | 1,874,209.69 | | Advance Payments for Individual Insurance, Housing Provident Fund | 198,230.82 | | Intercompany Accounts | 800,993,635.07 | | Other | 4,272,610.68 | | **Total** | **879,834,644.98** | Parent Company Long-Term Equity Investments (in Subsidiaries) | Investee | Period End Balance (Book Value) (RMB) | | :--- | :--- | | Suzhou Zhengyuan Smart City Construction and Operation Co., Ltd. | 71,836,400.00 | | Shandong Zhengyuan Aerospace Remote Sensing Technology Co., Ltd. | 56,521,481.10 | | Changting Zhengyuan Smart City Construction and Operation Co., Ltd. | 35,829,100.00 | | Shandong Zhengyuan Geophysical Information Technology Co., Ltd. | 30,600,000.00 | | Wuhan Keda Geographic Information Engineering Co., Ltd. | 28,731,763.16 | Parent Company Operating Revenue and Operating Costs for H1 2025 | Item | Revenue (RMB) | Costs (RMB) | | :--- | :--- | :--- | | Main Business | 120,991,533.29 | 81,972,227.53 | | Other Business | 5,056,109.00 | 165,446.32 | | **Total** | **126,047,642.29** | **82,137,673.85** | Parent Company Investment Income for H1 2025 | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Investment Income from Long-Term Equity Investments Accounted for Using Cost Method | 595,324.42 | - | | Investment Income from Long-Term Equity Investments Accounted for Using Equity Method | 36,886.76 | 262,722.52 | | **Total** | **632,211.18** | **262,722.52** | [XX. Supplementary Information](index=194&type=section&id=XX.%20Supplementary%20Information) This section provides a detailed statement of non-recurring gains and losses for the current period, totaling **RMB 1,770,538.63**, along with supplementary financial indicators such as return on net assets and earnings per share Details of Non-recurring Gains and Losses for H1 2025 | Item | Amount (RMB) | | :--- | :--- | | Gains/losses from disposal of non-current assets, including reversal of asset impairment provisions | 1,416,390.56 | | Government grants recognized in current profit or loss, excluding those closely related to normal business operations, compliant with national policies, enjoyed under fixed standards, and having a continuous impact on the company's profit or loss | 725,726.60 | | Gains/losses from debt restructuring | -42,866.34 | | Other non-operating income and expenses apart from the above | 188,779.18 | | Less: Income tax impact | 362,550.44 | | Non-controlling interests impact (after tax) | 154,940.93 | | **Total** | **1,770,538.63** | Return on Net Assets and Earnings Per Share for H1 2025 | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share (RMB) | Diluted Earnings Per Share (RMB) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders of the Company | -3.75 | -0.06 | -0.06 | | Net Profit Attributable to Ordinary Shareholders of the Company After Deducting Non-recurring Gains and Losses | -3.89 | -0.06 | -0.06 |

Group 1 - The company's operating revenue for the first half of 2025 is 281 million yuan, representing a year-on-year decrease of 3.88% [1] - The net loss attributable to shareholders of the listed company is 48.11 million yuan, compared to a net loss of 59.66 million yuan in the same period last year [1]

Core Viewpoint - The document outlines the management system for related party transactions of Shanghai Zhongchen Electronics Technology Co., Ltd, emphasizing the need for fairness, transparency, and protection of the interests of all shareholders, especially minority investors [1][2][3]. Group 1: General Principles - The management system aims to regulate related party transactions, ensuring compliance with relevant laws and regulations, including the Company Law and Securities Law [1]. - The audit committee of the board of directors is responsible for overseeing and managing related party transactions [1]. - Internal controls for related party transactions must adhere to principles of honesty, equality, voluntariness, fairness, openness, and impartiality [1][2]. Group 2: Definition of Related Parties - Related parties include both legal entities and natural persons that have a significant influence or control over the company [2][3]. - Specific criteria for identifying related legal entities include direct or indirect control over the company or ownership of more than 5% of shares [2][3]. - Related natural persons include shareholders with more than 5% ownership, directors, and senior management [3]. Group 3: Related Party Transactions - Related party transactions involve the transfer of resources or obligations between the company and its related parties, including loans, investments, and asset sales [4][5]. - Pricing for related party transactions should follow national pricing, market prices, or negotiated prices, with a preference for fair market value [5][6]. Group 4: Approval and Disclosure Procedures - Transactions exceeding certain thresholds require approval from independent directors and must be disclosed to shareholders [7][8]. - Specific thresholds include transactions over 300,000 yuan with related natural persons and over 3 million yuan with related legal entities [7][8]. - Continuous related party transactions within a 12-month period are subject to cumulative calculation for disclosure requirements [8][9]. Group 5: Financial Assistance and Guarantees - The company is generally prohibited from providing financial assistance to related parties, with specific exceptions outlined [9][10]. - Guarantees provided to related parties must also undergo rigorous approval processes involving independent directors and shareholder meetings [10][11]. Group 6: Information Disclosure - The company must disclose related party transactions in accordance with legal requirements, including transaction amounts and the nature of the relationships involved [34][35]. - Disclosure must include details such as transaction agreements, board resolutions, and independent director opinions [38][39].

证券代码：688509 证券简称：正元地信 公告编号：2025-022 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。 特此公告。 正元地理信息集团股份有限公司董事会 2025 年 8 月 20 日 正元地理信息集团股份有限公司 关于董事会、监事会延期换届的提示性公告 正元地理信息集团股份有限公司（以下简称"公司"）第二届董事会、第二 届监事会任期将于 2025 年 8 月 23 日届满。鉴于新一届董事会换届工作仍在筹备 中，为保证相关工作的连续性，公司董事会换届选举工作需适当延期，董事会及 各专门委员会、高级管理人员的任期相应顺延。同时，根据《关于新〈公司法〉 配套制度规则实施相关过渡期安排》，公司正在积极筹备配套管理制度修订及监 事会改革等工作。因此项工作仍在筹备中，公司现任监事会任期亦相应顺延。 在换届选举工作完成前，公司第二届董事会全体董事及各专门委员会委员、 第二届监事会全体监事、公司高级管理人员将根据法律法规和《公司章程》等规 定继续履行职责。 公司董事会、监事会延期换届不会影响公司的正常运营。公司亦将尽快推进 ...

正元地理信息集团股份有限公司 2025 年第一次临时股东大会会议资料 证券代码：688509 证券简称：正元地信 2025年第一次临时股东大会 会议资料 2025年9月 正元地理信息集团股份有限公司 2025 年第一次临时股东大会会议资料 正元地理信息集团股份有限公司 为保证本次大会的严肃性和正常秩序，切实维护与会股东及股东 代理人的合法权益，务请出席大会的股东及股东代理人或其他出席者 准时到达会场签到确认参会资格。会议开始后，会议登记终止，由会 议主持人宣布现场出席会议的股东人数及其所持有表决权的股份总 数，在此之后进场的股东无权参与现场投票表决。 三、会议按照会议通知中所列议案顺序逐项审议、表决。 目录 | 2025年第一次临时股东大会会议须知 1 | | --- | | 2025年第一次临时股东大会会议议程 4 | | 2025年第一次临时股东大会会议议案 6 | | 议案一：关于调整公司2025年度筹资预算及融资担保预算的议案 6 | | 议案一附件：正元地理信息集团股份有限公司2025年度筹资预算和融资担保预算 | | 调整报告 7 | 正元地理信息集团股份有限公司 2025 年第一次临时股东大会会 ...

Group 1 - The company, Zhengyuan Geographic Information Group Co., Ltd., is holding its first extraordinary general meeting of shareholders in 2025 on September 3, 2025, at 14:30 [2][5] - The meeting will take place at the company's conference room located at No. 1 Building, 3rd Courtyard, Huihai Middle Road, Shunyi District, Beijing [2][5] - Shareholders can participate in the voting through both on-site and online methods, utilizing the Shanghai Stock Exchange's network voting system [5][6] Group 2 - The online voting will be available on the day of the meeting from 9:15 to 15:00, with specific trading time slots for the voting platform [3][7] - The company has confirmed that there are no special resolutions or related party voting issues to be addressed during the meeting [7] - All shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the registration date are eligible to attend the meeting [10][12] Group 3 - The company will publish the meeting materials on the Shanghai Stock Exchange's website prior to the meeting [6] - Shareholders must complete registration to attend the meeting, with specific documentation required for both corporate and individual shareholders [12][14] - The company emphasizes that all expenses related to attending the meeting, such as transportation and accommodation, will be borne by the attendees [15]

Group 1 - The company, Zhengyuan Geographic Information Group Co., Ltd., is holding its first extraordinary general meeting of shareholders in 2025 on September 3, 2025, at 14:30 [3][4] - The voting method for the meeting will combine on-site voting and online voting through the Shanghai Stock Exchange network voting system [1][3] - The agenda includes a proposal to adjust the company's fundraising budget and financing guarantee budget for 2025, which has already been approved by the board [2][8] Group 2 - Shareholders must register to attend the meeting by September 1, 2025, and can delegate representatives to vote on their behalf [4][5] - The registration process requires specific documentation, including identification and proof of shareholding [4][5] - The company will provide meeting materials on the Shanghai Stock Exchange website prior to the meeting [2]

Group 1 - The company, Zhengyuan Dixin, announced that it will hold its first extraordinary general meeting of shareholders for 2025 on September 3, 2025 [1] - The agenda for the meeting includes the review of a proposal regarding the adjustment of the company's fundraising budget and financing guarantee budget for 2025 [1]

正元地理信息集团股份有限公司 2024 年度"提质增效重回报"行动方案评估报告暨 2025 年度"提质增效重回报"专项行动方案 正元地理信息集团股份有限公司（以下简称"正正元地信 正公司 ）为贯彻 落实国务院《关于进一步提高上市公司质量的意见》要求及上海证券交易所（以 下简称正上交所 ）关于开展上市公司正提质增效重回报 专项行动的倡议，于 2024 年 7 月 17 日发布《正元地理信息集团股份有限公司 2024 年度正提质增效 重回报 行动方案》。自行动方案发布以来，公司积极落实相关举措，取得一定 成效。公司于 2025 年 8 月 13 日召开第二届董事会第四十一次会议审议通过了关 于《2024 年度正提质增效重回报 行动方案评估报告暨 2025 年度正提质增效重 回报 专项行动方案》的议案，对 2024 年行动方案实施情况进行评估，并明确 2025 年行动计划，具体举措如下： 一、坚定聚焦主业，提升经营质量 （一）2024 年经营情况概况 2024 年，由于行业市场环境因素的影响，公司部分客户预算收紧、项目招投 标延期，部分市场区域业务拓展较慢，导致公司营业收入同比减少，同时市场需 求不足,竞争加剧导致 ...

本公司董事会及全体董事保证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。 重要内容提示： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2025年第一次临时股东大会 证券代码：688509 证券简称：正元地信 公告编号：2025-021 正元地理信息集团股份有限公司 关于召开2025年第一次临时股东大会的通知 召开日期时间：2025 年 9 月 3 日 14 点 30 分 （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 召开地点：北京市顺义区汇海中路 3 号院 1 号楼公司会议室 （五） 网络投票的系统、起止日期和投票时间。 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 3 日 至2025 年 9 月 3 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 股东大会召开日期：2025年9月3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 （四） 现场会议召开的日期、时间和地点 东大会召开 ...