Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 1.18%, closing at 1357.15 points, with a total trading volume of 6.411 billion shares and a turnover of 300.923 billion yuan, resulting in an average turnover rate of 3.44% [1] - Among the tradable stocks on the STAR Market, 358 stocks closed higher, with 12 stocks hitting the daily limit up, including Hai Zheng Sheng Cai, Yuan Jie Ke Ji, and Teng Jing Ke Ji [1] - The distribution of turnover rates shows that 2 stocks had turnover rates exceeding 20%, 45 stocks between 10% and 20%, and 143 stocks between 5% and 10% [1] High Turnover Stocks - Jin Cheng Zi had the highest turnover rate at 27.15%, closing up by 7.67% with a trading volume of 393 million yuan [3] - Si Kan Ke Ji followed with a turnover rate of 21.03%, closing up by 7.11% and a trading volume of 425 million yuan [3] - Other notable stocks with high turnover rates include Hua Hong Company, Chang Yang Technology, and Canxin Shares, with turnover rates of 19.07%, 17.95%, and 17.93% respectively [1][3] Sector Analysis - In terms of sectors, the electronics sector had the most stocks with high turnover rates, totaling 64 stocks, followed by the computer and pharmaceutical sectors with 27 and 26 stocks respectively [2] - Stocks with significant net inflows included Bai Ji Shen Zhou, Hong Ruan Ke Ji, and Teng Jing Ke Ji, with net inflows of 305 million yuan, 220 million yuan, and 102 million yuan respectively [2] Leverage Fund Movements - A total of 128 stocks recently received net purchases from leveraged funds, with notable increases in financing balances for Lan Qi Ke Ji, Yun Tian Li Fei, and Hua Feng Ke Ji, increasing by 1.17 billion yuan, 475 million yuan, and 215 million yuan respectively [2] - Conversely, stocks like Ai Fu Te, Jing Pin Te Zhuang, and Ju He Cai Liao saw significant reductions in financing balances, decreasing by 104 million yuan, 8.853 million yuan, and 8.196 million yuan respectively [2]

Group 1 - The core viewpoint of the news is that Sikan Technology has shown positive financial performance with a revenue increase and a stable shareholder structure [2][3] - As of August 29, Sikan Technology's stock price increased by 0.66%, with a trading volume of 224 million yuan and a net financing purchase of 1.77 million yuan [1] - The company reported a revenue of 177 million yuan for the first half of 2025, representing a year-on-year growth of 17.7% [2] Group 2 - Sikan Technology's main business involves the research, production, and sales of 3D visual digital products, which account for 95.55% of its revenue [1] - As of June 30, 2025, the number of shareholders increased by 0.74%, while the average circulating shares per person decreased by 0.74% [2] - The company has distributed a total of 37.4 million yuan in dividends since its A-share listing [3]

Group 1 - The core viewpoint of the article highlights that Sikan Technology (Hangzhou) Co., Ltd. has obtained a patent for a method, device, system, storage medium, and program product related to generating three-dimensional grids, with the patent announcement number CN 119919604 B and an application date of April 2025 [1] - Sikan Technology (Hangzhou) Co., Ltd. was established in 2015 and is located in Hangzhou, primarily engaged in technology promotion and application services [1] - The company has a registered capital of 88.4 million RMB and has made investments in 5 enterprises, participated in 216 bidding projects, and holds 66 trademark information and 281 patent information [1]

Core Viewpoint - The company, Sikan Technology, has announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 1.5 yuan per 10 shares, which represents 24.55% of the net profit attributable to shareholders for the period [4][8][18]. Group 1: Profit Distribution Plan - The proposed cash dividend is 1.5 yuan per 10 shares (including tax) [4][7]. - The total number of shares is 88,400,000, leading to a total cash dividend payout of 13,260,000 yuan (including tax) [8][18]. - The profit distribution plan has been approved by the board and does not require further approval from the shareholders' meeting [7][18]. Group 2: Financial Data - As of June 30, 2025, the company's undistributed profits amount to 282,707,545.82 yuan [8]. - The profit distribution plan accounts for 24.55% of the net profit attributable to shareholders for the first half of 2025 [8][18]. Group 3: Decision-Making Process - The board of directors held a meeting on August 27, 2025, where the profit distribution plan was approved [14][18]. - The plan aligns with the company's profit distribution policy and shareholder return strategy [18]. Group 4: Fundraising and Usage - The company raised a total of 568,820,000 yuan from its initial public offering, with a net amount of 493,440,490.92 yuan after expenses [21]. - As of June 30, 2025, the company has utilized 125,676,841.31 yuan of the raised funds, leaving a balance of 369,537,735.73 yuan [22][23].

Core Viewpoint - Sikan Technology (688583) released its first interim report post-IPO, showing a positive growth trajectory in revenue and net profit for the first half of 2025 [1] Financial Performance - In the first half of 2025, the company achieved a net profit attributable to shareholders of approximately 54.01 million yuan, representing a year-on-year increase of 2.06% [1] - The company's operating revenue for the same period was approximately 177 million yuan, reflecting a year-on-year growth of 17.7% [1] Company Overview - Sikan Technology went public on the A-share market in January 2025, focusing on the research, production, and sales of three-dimensional visual digital products and systems [1] - The main products include industrial-grade application equipment and professional-grade application equipment [1]

Group 1 - The core viewpoint of the articles highlights the strong performance of Sikan Technology in the first half of 2025, with a revenue increase of 17.70% year-on-year and a net profit increase of 2.06% [1] - The establishment of the 3DeVOK division signifies a deeper strategic layout in the 3D digitalization field, alongside the launch of a dual-brand strategy with "SCANOLOGY" and "3DeVOK" [2] - The company's overseas revenue grew by over 60% in the first half of 2025, indicating successful market expansion efforts [2] Group 2 - Sikan Technology significantly increased its R&D investment to 38.06 million yuan, a 40.52% increase compared to the previous year, with R&D personnel growing by 33.77% [3] - The company achieved substantial results in intellectual property, with 79 new applications and a total of 209 authorized patents, enhancing its technological competitiveness [3] - The second quarter saw new institutional investors entering the shareholder list, indicating growing interest from investment entities [3]

Core Viewpoint - Sikan Technology (688583.SH) reported a stable growth in revenue and a modest increase in net profit for the first half of 2025, indicating a focus on R&D and international expansion [1] Financial Performance - The company achieved an operating revenue of 176.85 million yuan in the first half of 2025, representing a year-on-year growth of 17.70% [1] - The net profit attributable to shareholders was 54.01 million yuan, reflecting a year-on-year increase of 2.06% [1] - The slower growth in net profit compared to revenue is attributed to increased investments in R&D and the establishment of overseas sales networks [1] Dividend Distribution - The company plans to distribute a cash dividend of 1.5 yuan for every 10 shares to all shareholders [1]

思看科技（杭州）股份有限公司 证券代码：688583 证券简称：思看科技 公告编号：2025-034 第二届董事会第二次会议决议公告 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。 董事会认为：公司《2025 年半年度报告》及其摘要的编制符合法律、法规、 中国证监会和上海证券交易所的相关规定，报告内容真实、准确、完整地反映了 公司的实际情况，不存在任何虚假记载、误导性陈述或重大遗漏。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 本议案已经审计委员会审议通过。 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《思 看科技（杭州）股份有限公司 2025 年半年度报告》《思看科技（杭州）股份有限 公司 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的专 项报告的议案》 董事会认为：根据中国证券监督管理委员会《上市公司募集资金监管规则》 和上海证券交易所《上海证券交易所科创板上市公司自律监管指引第 1 号—规范 运作》和公司的《募集资金 ...

证券代码：688583 证券简称：思看科技 公告编号：2025-036 思看科技（杭州）股份有限公司 关于 2025 年半年度利润分配方案的公告 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。 重要内容提示： 每 10 股派发现金红利 1.5 元（含税）。公司不送红股，不以资本公积金 转增股本。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日 期将在权益分派实施公告中明确。在实施权益分派的股权登记日前公司总股本发 生变动的，拟维持每股分配比例不变，相应调整现金派发总额，并将另行公告具 体调整情况。 本次利润分配方案已经公司第二届董事会第二次会议审议通过，根据 2024 年年度股东大会的授权，本次利润分配方案无需提交股东会审议。 一、利润分配方案内容 截至 2025 年 6 月 30 日，思看科技（杭州）股份有限公司（以下简称"公司"） 母公司报表中期末未分配利润为人民币 282,707,545.82 元。上述财务数据未经审 计。经董事会决议，公司 2025 年半年度拟以实施权益分派股权登记日登记的总 股本为 ...

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board of directors and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content, with no false records, misleading statements, or major omissions - The reporting period saw no significant risks materially impacting the company's production and operations, with relevant risks detailed in "Section III Management Discussion and Analysis"[4](index=4&type=chunk) 2025 Semi-Annual Profit Distribution Plan | Indicator | Content | | :--- | :--- | | **Distribution Plan** | Cash dividend of CNY 1.5 per 10 shares (tax inclusive) | | **Total Share Capital** | 88,400,000 shares | | **Total Proposed Cash Dividend** | CNY 13,260,000.00 (tax inclusive) | | **Percentage of Net Profit Attributable to Shareholders** | 24.55% | | **Bonus Shares/Capital Reserve Conversion** | No bonus shares, no capital reserve conversion to share capital | [Section I Definitions](index=5&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section clarifies company names, subsidiary names, and specialized terminology to ensure a clear understanding of the report's content - This section primarily defines company and subsidiary names, along with professional terms such as point cloud, resolution, algorithm, marker points, pose, virtual world, frame rate, artificial intelligence, Internet of Things, virtual reality, augmented reality, digital twin, 3D printing, 3C, FPGA, and SoC, to ensure clear comprehension of the report's content[11](index=11&type=chunk)[12](index=12&type=chunk)[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information, contact details, information disclosure, stock profile, and key financial performance metrics [I. Company Basic Information](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) ScanTech (Hangzhou) Co., Ltd. specializes in the R&D, production, and sales of 3D vision digitalization products and systems, with Wang Jiangfeng as its legal representative and its registered office in Hangzhou, Zhejiang - The company's Chinese name is ScanTech (Hangzhou) Co., Ltd., abbreviated as ScanTech, with Wang Jiangfeng as its legal representative[15](index=15&type=chunk) - The company's registered and office address is Room 102, Unit 1, Building 12, No. 998 Wenyi West Road, Wuchang Street, Yuhang District, Hangzhou, Zhejiang Province[16](index=16&type=chunk) [II. Contact Persons and Information](index=7&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section provides contact details for the company's Board Secretary Wang Peng and Securities Affairs Representative Peng Weihang, facilitating communication for investors and stakeholders - The Board Secretary is Wang Peng, and the Securities Affairs Representative is Peng Weihang, both with the company's office address as their contact address[17](index=17&type=chunk) - The contact phone and fax number are both 0571-86362816, and the email address is dongshiban@3d-scantech.com[17](index=17&type=chunk) [III. Information Disclosure and Document Custody Location Changes](index=7&type=section&id=%E4%B8%89%E3%80%81%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) The company designates "Shanghai Securities News," "China Securities Journal," "Securities Times," and "Securities Daily" as its information disclosure newspapers, with the semi-annual report published on the Shanghai Stock Exchange website and available at the company's board office - The company's selected information disclosure newspapers include "Shanghai Securities News," "China Securities Journal," "Securities Times," and "Securities Daily"[18](index=18&type=chunk) - The website address for the semi-annual report is www.sse.com.cn, and the company's semi-annual report is available at the company's board office[18](index=18&type=chunk) [IV. Company Stock/Depositary Receipts Overview](index=7&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%2F%E5%AD%98%E6%89%98%E5%87%AD%E8%AF%81%E7%AE%80%E5%86%B5) The company's A-shares are listed and traded on the Shanghai Stock Exchange STAR Market, with the stock ticker "ScanTech" and stock code 688583 - The company's stock type is A-shares, listed on the Shanghai Stock Exchange STAR Market[19](index=19&type=chunk) - The stock ticker is ScanTech, and the stock code is 688583[19](index=19&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=8&type=section&id=%E5%85%AD%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue grew by **17.70%** to **CNY 176.85 million**, net profit attributable to shareholders increased by **2.06%** to **CNY 54.01 million**, operating cash flow decreased by **32.59%**, net assets surged by **82.64%** to **CNY 1.14 billion**, and basic EPS declined by **38.46%** to **CNY 0.64** 2025 First Half Key Accounting Data | Indicator | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | CNY 176,848,509.44 | CNY 150,248,052.96 | 17.70 | | Total Profit | CNY 58,529,309.18 | CNY 59,496,310.95 | -1.63 | | Net Profit Attributable to Shareholders | CNY 54,007,712.64 | CNY 52,918,429.73 | 2.06 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | CNY 47,074,322.51 | CNY 48,493,603.14 | -2.93 | | Net Cash Flow from Operating Activities | CNY 31,159,083.37 | CNY 46,225,989.56 | -32.59 | | **Period-End Indicator** | **End of Current Period** | **End of Prior Year** | **Period-End Change (%)** | | Net Assets Attributable to Shareholders | CNY 1,140,953,813.31 | CNY 624,684,613.64 | 82.64 | | Total Assets | CNY 1,266,401,357.25 | CNY 745,453,503.55 | 69.88 | 2025 First Half Key Financial Indicators | Indicator | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | 0.64 | 1.04 | -38.46 | | Diluted Earnings Per Share (CNY/share) | 0.64 | 1.04 | -38.46 | | Basic EPS (Excluding Non-Recurring Items) (CNY/share) | 0.56 | 0.95 | -41.05 | | Weighted Average Return on Net Assets (%) | 5.04 | 10.16 | Decreased by 5.12 percentage points | | Weighted Average Return on Net Assets (Excluding Non-Recurring Items) (%) | 4.39 | 9.31 | Decreased by 4.92 percentage points | | R&D Investment as % of Operating Revenue (%) | 21.52 | 18.03 | Increased by 3.49 percentage points | - Operating revenue increased by **17.70%**, primarily driven by global market expansion in the industrial sector and product upgrades in the professional sector[23](index=23&type=chunk) - Net profit attributable to shareholders increased by **2.06%**, lower than revenue growth, mainly due to increased R&D investment and overseas sales network development[23](index=23&type=chunk) - Net cash flow from operating activities decreased by **32.59%**, primarily due to increased inventory for accelerated product iteration, leading to higher cash payments for material purchases[23](index=23&type=chunk) - Net assets attributable to shareholders increased by **82.64%**, mainly due to the company's IPO and retained net profit[23](index=23&type=chunk) - Basic earnings per share decreased by **38.46%**, primarily due to the increase in share capital from the company's IPO and capital reserve conversion[23](index=23&type=chunk) [VIII. Non-Recurring Gains and Losses Items and Amounts](index=9&type=section&id=%E5%85%AB%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) This section lists the company's non-recurring gains and losses for the first half of 2025, totaling **CNY 6.93 million**, primarily from government grants, fair value changes of financial assets, and individual income tax handling fee refunds 2025 First Half Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (CNY) | | :--- | :--- | | Government grants recognized in current profit or loss | 5,209,238.91 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises | 2,797,448.70 | | Other non-operating income and expenses apart from the above | -15,688.98 | | Other non-recurring gains and losses (individual income tax handling fee refunds) | 110,632.49 | | Less: Income tax impact | 1,168,240.99 | | **Total** | **6,933,390.13** | [IX. Net Profit After Deducting Share-Based Payment Impact (Optional Disclosure for Companies with Equity Incentives/ESOPs)](index=10&type=section&id=%E4%B9%9D%E3%80%81%E5%AD%98%E5%9C%A8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E7%9A%84%E5%85%AC%E5%8F%B8%E5%8F%AF%E9%80%89%E6%8B%A9%E6%8A%AB%E9%9C%B2%E6%89%A3%E9%99%A4%E8%82%A1%E4%BB%BD%E6%94%AF%E4%BB%98%E5%BD%B1%E5%93%8D%E5%90%8E%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6) The company disclosed its net profit after deducting the impact of share-based payments, which was **CNY 59.41 million** for the first half of 2025, a **3.11%** decrease from the prior period Net Profit After Deducting Share-Based Payment Impact | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | Current Period vs. Prior Period Change (%) | | :--- | :--- | :--- | :--- | | Net profit after deducting share-based payment impact | CNY 59,413,243.14 | CNY 61,320,327.02 | -3.11 | [Section III Management Discussion and Analysis](index=11&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides a comprehensive discussion and analysis of the company's industry, main business, operational performance, core competencies, and risk factors during the reporting period [I. Industry and Main Business Overview in the Reporting Period](index=11&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) ScanTech focuses on R&D, production, and sales of 3D vision digitalization products and systems, bridging the physical and 3D digital worlds in the AI era, with a dual-brand strategy for industrial and professional markets, a "distribution-led, direct sales-supplemented" model, and continuous R&D investment [1. Industry Overview](index=11&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The company operates in the 3D vision digitalization technology sector, which is projected to grow at a **19.16% CAGR** from 2022-2027, reaching **CNY 120.32 billion** by 2027, with broad applications in industrial metrology and non-industrial digitalization - ScanTech, established in 2015, specializes in the R&D, production, and sales of 3D vision digitalization products and systems[31](index=31&type=chunk) Global 3D Digitalization Product Market Size Forecast | Indicator | 2022 | 2027 (Estimated) | CAGR (2022-2027) | | :--- | :--- | :--- | :--- | | Market Size | CNY 50.06 billion | CNY 120.32 billion | 19.16% | - The company focuses on non-contact 3D vision digitalization technology, which has broad applications in industrial metrology and non-industrial digitalization, and can be efficiently migrated to cutting-edge applications like 3D positioning and tracking[32](index=32&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk) [2. Main Business and Products](index=12&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E3%80%81%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E6%83%85%E5%86%B5) The company's main business involves the R&D, production, and sales of 3D vision digitalization products and systems, including industrial and professional equipment, with a dual-brand strategy launched in July 2025 to target distinct market segments - The company's main business is the R&D, production, and sales of 3D vision digitalization products and systems, primarily including industrial and professional application equipment[35](index=35&type=chunk) - In July 2025, the company officially launched its dual-brand strategy, introducing "SCANOLOGY" as a high-end industrial brand and "3DeVOK" as a professional brand[35](index=35&type=chunk) - The "SCANOLOGY" brand focuses on industrial scenarios, offering high-precision, high-reliability, and intelligent 3D digitalization solutions, with a product matrix including handheld, tracking 3D vision digitalization products, and industrial automated 3D vision inspection systems[35](index=35&type=chunk) - The "3DeVOK" brand targets the professional and consumer color 3D vision digitalization market, with products significantly lower priced than industrial-grade offerings, covering diverse digitalization industries such as education, 3D printing, and healthcare[36](index=36&type=chunk) [3. Main Business Model](index=12&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company's procurement model emphasizes quality control and customized design, its production model combines in-house core processes with outsourced non-core tasks, its sales model is primarily distribution-based with supplementary direct sales, and its R&D model follows an IPD process, resulting in numerous patents - Procurement Model: The company primarily procures raw materials such as optical lenses and mobile workstations, strictly controls raw material quality, and customizes and modifies some outsourced raw materials[37](index=37&type=chunk)[38](index=38&type=chunk) - Production Model: The company adopts an assembly-based production approach, with core critical processes (e.g., customized parameter design, assembly, calibration, testing) completed in-house, while non-core components and general production steps are outsourced[39](index=39&type=chunk) - Sales Model: The company employs a "distribution-led, direct sales-supplemented" approach, with distribution being a buy-out model; it has established a key account sales team in the domestic market, achieved over **60% year-on-year growth** in overseas revenue, and set up subsidiaries in Germany and the US while optimizing market layouts in Southeast Asia, East Asia, and South America[40](index=40&type=chunk)[41](index=41&type=chunk) - R&D Model: Based on the Integrated Product Development (IPD) process, it is divided into product management and technology R&D processes; as of June 30, 2025, the company holds **209 authorized patents**, including **94 invention patents**[42](index=42&type=chunk)[43](index=43&type=chunk) [II. Discussion and Analysis of Operations](index=14&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) In the first half of 2025, ScanTech's operating revenue grew by **17.70%** and net profit by **2.06%**, driven by increased R&D investment (**40.52%** growth) and overseas sales (**over 60%** growth), the establishment of the 3DeVOK division, and the launch of new industrial and professional products, expanding applications in diverse sectors including robotics [1. Focusing on Main Business, Continuous Innovation and Expansion](index=14&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E8%81%9A%E7%84%A6%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%EF%BC%8C%E6%8C%81%E7%BB%AD%E5%BC%80%E6%8B%93%E5%88%9B%E6%96%B0) In the first half of 2025, the company achieved **CNY 176.85 million** in operating revenue, a **17.70%** year-on-year increase, and **CNY 54.01 million** in net profit attributable to shareholders, up **2.06%**, with lower net profit growth attributed to increased R&D investment (**40.52%** growth) and overseas sales network expansion (**over 60%** growth), alongside the establishment of the 3DeVOK division to target professional and consumer 3D digitalization markets 2025 First Half Operating Performance | Indicator | Amount (CNY 10,000) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 17,684.85 | 17.70 | | Net Profit Attributable to Shareholders | 5,400.77 | 2.06 | - In the first half of 2025, R&D investment totaled **CNY 38.06 million**, a **40.52%** year-on-year increase; R&D personnel numbered **206**, an increase of **52** from the beginning of the year, representing a **33.77%** growth and accounting for **39.77%** of total employees[45](index=45&type=chunk) - In the first half of 2025, overseas revenue grew by **over 60%** year-on-year, as the company actively participated in international exhibitions, hosted technical seminars, and optimized its overseas localized service center布局[46](index=46&type=chunk) - The company established the 3DeVOK division, focusing on professional and consumer 3D digitalization innovative applications, covering various industries such as education, scientific research, industrial design, 3D printing, and healthcare[47](index=47&type=chunk)[48](index=48&type=chunk) [1.1 Innovation-Driven Product Optimization and Upgrades](index=15&type=section&id=1%E3%80%81%E4%BB%A5%E5%88%9B%E6%96%B0%E4%B8%BA%E9%A9%B1%E5%8A%A8%EF%BC%8C%E5%8A%A0%E9%80%9F%E4%BA%A7%E5%93%81%E4%BC%98%E5%8C%96%E5%8D%87%E7%BA%A7) In the first half of the year, the company deepened its expertise in 3D vision digitalization, developing key components and optimizing core algorithms to build a comprehensive software and hardware ecosystem, launching new industrial products like NimbleTrack-CR, KSCAN-X, KSCAN-E, SIMSCAN Gen2, and a 6D position tracking system, while the 3DeVOK division introduced MT and MQ color 3D scanners with AI-enhanced features - The company continues to deeply cultivate 3D vision digitalization technology, enhancing modeling accuracy, data processing efficiency, and texture mapping effects through independent R&D of key components and optimization of core algorithms[49](index=49&type=chunk) - Industrial products: Introduced NimbleTrack-CR, featuring a carbon fiber integrated frame, weighing only **1.3kg**, enhancing portability and detail processing capabilities[51](index=51&type=chunk)[52](index=52&type=chunk) - Industrial products: Launched a 6D position tracking system, integrating dynamic compensation algorithms to provide high-precision 3D spatial positioning and pose tracking, achieving an accuracy of **0.048mm** at a tracking distance of **3.5m**[54](index=54&type=chunk)[55](index=55&type=chunk) - Industrial products: Introduced the KSCAN-X series composite scanners, boasting advantages such as full wireless connectivity, ultra-large scanning area (**2.6m*1.8m**), ultra-large depth of field (**0.3m-2.5m**), and ultra-fast scanning[58](index=58&type=chunk) - Industrial products: Launched the KSCAN-E flagship handheld 3D scanner, equipped with **6** working modes, a measurement accuracy of up to **0.02mm**, and the first domestic laser 3D scanning device to control sphericity and flatness indicators[61](index=61&type=chunk)[62](index=62&type=chunk) - Industrial products: Introduced the SIMSCAN Gen2 handheld 3D scanner, with scanning speed significantly increased to **4,580,000/5,800,000 measurements/second**, measurement accuracy of **0.02mm**, and a body weight of **570g**[63](index=63&type=chunk)[64](index=64&type=chunk) - Professional products: Launched 3DeVOK MT and MQ color 3D scanners; MT integrates deep learning technology to optimize high-definition facial texture mapping, intelligent texture replacement, and color image enhancement functions; MQ supports wireless free scanning and features multi-light source technology[67](index=67&type=chunk)[68](index=68&type=chunk)[70](index=70&type=chunk)[71](index=71&type=chunk) [1.2 Adapting to Digitalization Trend, Accelerating Downstream Application Expansion](index=21&type=section&id=2%E3%80%81%E9%A1%BA%E5%BA%94%E4%B8%87%E7%89%A9%E6%95%B0%E5%AD%97%E5%8C%96%E8%B6%8B%E5%8A%BF%EF%BC%8C%E4%B8%8B%E6%B8%B8%E5%BA%94%E7%94%A8%E6%8B%93%E5%B1%95%E5%8A%A0%E9%80%9F) The company actively embraces the trend of universal digitalization by establishing the 3DeVOK division, which focuses on diverse industries such as education, 3D printing, healthcare, and AR/VR, achieving **100.97%** year-on-year growth in professional color 3D vision digitalization product revenue in the first half of 2025 - The company established the 3DeVOK division, focusing on 3D digitalization innovative applications to meet the 3D digitalization needs of various segmented industries, including education, scientific research, 3D printing, healthcare, archaeological cultural heritage, art design and cultural creativity, public security and justice, digital twin, and virtual world VR/AR[74](index=74&type=chunk) 2025 First Half Professional Color 3D Vision Digitalization Product Revenue Growth | Indicator | Growth Rate | | :--- | :--- | | Professional Color 3D Vision Digitalization Product Revenue Year-on-Year Growth | 100.97% | - The company's products have been applied in higher education institutions like Shanghai Jiao Tong University and Zhejiang University, cultural heritage institutions such as the National Museum of China and Beijing Archaeological Museum, medical institutions like Xiangya Hospital of Central South University, and played a key role in the digitalization project of the Saqqara archaeological site in a joint China-Egypt effort[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk) - In the public security and justice sector, 3D scanning technology is used for crime scene investigation and human injury surface measurement, providing high-precision quantitative evidence; in the AR/VR field, the company strategically collaborates with Hangzhou Lingban Technology Co., Ltd. to integrate 3D intelligent vision digitalization with augmented reality technology applications[80](index=80&type=chunk)[81](index=81&type=chunk) [1.3 Expanding Robotics-Related Business, Creating Value in New Fields](index=24&type=section&id=3%E3%80%81%E5%BC%80%E6%8B%93%E6%9C%BA%E5%99%A8%E4%BA%BA%E7%9B%B8%E5%85%B3%E4%B8%9A%E5%8A%A1%EF%BC%8C%E5%88%9B%E9%80%A0%E6%96%B0%E9%A2%86%E5%9F%9F%E4%BB%B7%E5%80%BC) The company is actively expanding its robotics-related business through its 6D position tracking system and M-Track robot path intelligent planning and guidance system, which provide high-precision positioning and pose tracking for applications such as robot calibration, dynamic tracking, and guided assembly, significantly improving production efficiency and product quality - The 6D position tracking system provides robots with precise calibration, positioning path planning guidance, and dynamic capture functions, offering high tracking accuracy of up to **0.048mm** at a tracking distance of **3.5m**[84](index=84&type=chunk)[85](index=85&type=chunk) - This system is applied in robot precision calibration, capable of simultaneously tracking multi-axis poses and measuring dynamic indicators such as speed and acceleration, thereby improving correction accuracy and efficiency[86](index=86&type=chunk) - The M-Track robot path intelligent planning and guidance system, a product of AI and 3D technology integration, can quickly record simulator motion trajectories and generate executable robot paths, suitable for applications such as grinding, spraying, and welding[91](index=91&type=chunk) - In the field of industrial robot guided assembly, the 6D position tracking system monitors the position and pose of assembly components in real-time, guiding robots to precisely install parts, reducing errors, and improving efficiency[93](index=93&type=chunk) [1.4 Significant Increase in R&D Investment, Strengthening IP and Technological Moat](index=27&type=section&id=4%E3%80%81%E7%A0%94%E5%8F%91%E6%8A%95%E5%85%A5%E5%A4%A7%E5%B9%85%E5%BA%A6%E6%8F%90%E5%8D%87%EF%BC%8C%E5%8A%A0%E5%A4%A7%E5%8A%9B%E5%BA%A6%E6%9E%84%E7%AD%91%E7%9F%A5%E4%BA%A7%E5%8F%8A%E6%8A%80%E6%9C%AF%E5%AE%9E%E5%8A%9B%E6%8A%A4%E5%9F%8E%E6%B2%B3) During the reporting period, the company's R&D investment reached **CNY 38.06 million**, a **40.52%** year-on-year increase, with R&D personnel growing to **206**, accounting for **39.77%** of total employees, focusing on software updates, professional product development, and industrial product upgrades, leading to **79** new IP applications and a cumulative total of **209** authorized patents 2025 First Half R&D Investment and Personnel | Indicator | Amount/Quantity | | :--- | :--- | | R&D Expenses | CNY 38.06 million | | Year-on-Year Growth | 40.52% | | R&D Personnel Quantity | 206 people | | Increase from Year-Start | 52 people | | R&D Personnel as % of Total Employees | 39.77% | - R&D content primarily includes continuous updates to the all-scenario 3D digitalization software DefinSight, expanding downstream application modules, adapting to domestic operating systems, and embedding self-developed industrial measurement software modules[95](index=95&type=chunk)[96](index=96&type=chunk) - R&D investment in professional products 3DeVOK significantly increased, with a dedicated R&D team established to focus on product enhancement, AI technology investment, and software iteration optimization, having already launched two new products, 3DeVOK MT and MQ[97](index=97&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk) - Industrial products continue to iterate and upgrade, with the launch of KSCAN-X, KSCAN-E, SIMSCAN Gen2 handheld 3D vision digitalization products, NimbleTrack-CR tracking 3D vision digitalization products, and the new 6D position tracking system[100](index=100&type=chunk) - In the first half of the year, **79** new intellectual property applications were filed; as of June 30, 2025, the company holds **209 authorized patents** (**94 invention patents**, **93 utility model patents**, **22 design patents**)[100](index=100&type=chunk)[101](index=101&type=chunk) [III. Analysis of Core Competencies in the Reporting Period](index=29&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) ScanTech's core competencies stem from its leading software and hardware system capabilities, integrated "optics, mechanics, electronics, computing, software" R&D, three core technology clusters, a highly skilled interdisciplinary R&D team, broad downstream applications, a decade of 3D digitalization expertise with a dual-brand strategy, and a robust quality management and technical support system [1. Leading Software and Hardware System Capabilities, Continuously Guiding Industry Technology Development](index=29&type=section&id=1%E3%80%81%E9%A2%86%E5%85%88%E7%9A%84%E8%BD%AF%E7%A1%AC%E4%BB%B6%E7%B3%BB%E7%BB%9F%E8%83%BD%E5%8A%9B%EF%BC%8C%E6%8C%81%E7%BB%AD%E5%BC%95%E9%A2%86%E8%A1%8C%E4%B8%9A%E6%8A%80%E6%9C%AF%E5%8F%91%E5%B1%95) The company possesses leading software and hardware system capabilities in 3D vision digitalization, mastering core technologies such as key optical components, 3D vision algorithms, and high-performance hardware design, forming a comprehensive technical platform with three core technology clusters and **18** key breakthroughs that continuously drive industry technological advancement - The company has accumulated extensive technical capabilities in key optical components, core 3D vision algorithms, high-performance hardware structure design, and 3D scanning and analysis comparison software[102](index=102&type=chunk) - The company has formed three core technology clusters: 3D recognition and reconstruction technology, 3D stereo extension technology, and stereo vision calibration technology, mastering and breaking through **18** key technologies, including fast high-precision edge computing technology, tracking range extension technology, and multi-line laser technology[104](index=104&type=chunk) [2. Comprehensive Interdisciplinary Talent Team, Sustained Efforts with Ten Years of Entrepreneurial Spirit](index=30&type=section&id=2%E3%80%81%E5%AE%8C%E5%96%84%E7%9A%84%E8%B7%A8%E5%AD%A6%E7%A7%91%E4%BA%BA%E6%89%8D%E5%9B%A2%E9%98%9F%EF%BC%8C%E4%BB%A5%E5%8D%81%E5%B9%B4%E5%88%9B%E4%B8%9A%E7%B2%BE%E7%A5%9E%E6%8C%81%E7%BB%AD%E5%A5%8B%E6%96%97) The company prioritizes talent development, building integrated "optics, mechanics, electronics, computing, software" R&D capabilities with a growing team of **206** R&D personnel as of H1 2025, comprising diverse academic backgrounds from renowned institutions, which underpins continuous technological innovation and product upgrades - The company has built integrated "optics, mechanics, electronics, computing, software" comprehensive research capabilities, with R&D team members possessing professional backgrounds across various fields such as machinery, instrumentation, power electronics, and computer science[106](index=106&type=chunk) - As of the first half of 2025, the company's R&D personnel numbered **206**, an increase of **52** from the beginning of the year, representing a **33.77%** growth and accounting for **39.77%** of the company's total employees[106](index=106&type=chunk) - R&D team members graduated from renowned domestic and international universities such as Zhejiang University, Shanghai Jiao Tong University, Harbin Institute of Technology, and New York University, continuously optimizing the team's educational and age structure[106](index=106&type=chunk) [3. Broad Downstream Application Fields, Promising Future for 3D Digital Assets](index=30&type=section&id=3%E3%80%81%E5%B9%BF%E6%B3%9B%E7%9A%84%E4%B8%8B%E6%B8%B8%E5%BA%94%E7%94%A8%E9%A2%86%E5%9F%9F%EF%BC%8C3D%E6%95%B0%E5%AD%97%E8%B5%84%E4%BA%A7%E5%89%8D%E6%99%AF%E5%B9%BF%E9%98%94) The company's 3D vision digitalization products are widely applied in industrial manufacturing, cultural creative, healthcare, and education sectors, offering precise, efficient, and innovative solutions that drive digital transformation with broad market prospects - 3D vision digitalization products demonstrate significant industrial advantages and broad downstream applications in industrial manufacturing, cultural creative, healthcare, and education sectors[108](index=108&type=chunk) - This technology promotes digital transformation and upgrading across various industries, with broad market prospects, expected to empower more sectors[109](index=109&type=chunk) [4. Ten Years of Deep Cultivation in 3D Digitalization, Dual-Brand Strategy Embarks on a New Journey](index=31&type=section&id=4%E3%80%81%E5%8D%81%E5%B9%B4%E6%B7%B1%E8%80%953D%E6%95%B0%E5%AD%97%E5%8C%96%E9%A2%86%E5%9F%9F%EF%BC%8C%E5%8F%8C%E5%93%81%E7%89%8C%E6%88%98%E7%95%A5%E8%B8%8F%E5%85%A5%E6%96%B0%E5%BE%81%E7%A8%8B) The company has dedicated a decade to 3D digitalization, earning multiple technology awards, participating in national standard drafting, and launching a dual-brand strategy ("SCANOLOGY" and "3DeVOK") to serve industrial and universal digitalization markets, having supported thousands of clients and major national projects - The company received the 2022 Zhejiang Provincial Science and Technology Progress Award Second Prize, the China Machinery Industry Science and Technology Award Second Prize, and participated in drafting **1** national standard, **1** industry standard, and **2** group standards[111](index=111&type=chunk) - The company is a fourth batch national "Little Giant" enterprise, and has served major national aerospace projects such as the China Space Station and the domestically produced C919 passenger aircraft[111](index=111&type=chunk)[113](index=113&type=chunk) - The company launched a dual-brand strategy, establishing "SCANOLOGY" as a high-end industrial brand and "3DeVOK" as a professional brand, having cumulatively served thousands of end customers, including renowned enterprises like BYD, CATL, and Tesla[112](index=112&type=chunk) [5. Robust Quality Management and Technical Support System, Supporting Long-Term Company Development](index=32&type=section&id=5%E3%80%81%E8%B4%A8%E9%87%8F%E7%AE%A1%E7%90%86%E4%B8%8E%E6%8A%80%E6%9C%AF%E6%94%AF%E6%8C%81%E4%BD%93%E7%B3%BB%E5%AE%8C%E5%96%84%EF%BC%8C%E6%94%AF%E6%92%91%E5%85%AC%E5%8F%B8%E9%95%BF%E6%9C%9F%E5%8F%91%E5%B1%95) The company has established advanced management systems, including ISO9001, ISO14001, ISO45001, ISO27001, ISO27701, ISO17025 CNAS, GB/T 29490, and GB/T 33000, to ensure product quality and manufacturing efficiency, supported by a professional global technical service team for rapid response and localized support - The company has established advanced management systems covering ISO9001 Quality Management System, ISO14001 Environmental Management System, ISO45001 Occupational Health and Safety Management System, among others[114](index=114&type=chunk) - The company possesses a professional technical service team widely distributed across East China, South China, North China, Central China, and West China, and has established subsidiaries in Germany and the United States, as well as localized service centers in Southeast Asia, East Asia, and South America[115](index=115&type=chunk) [III. Core Technologies and R&D Progress](index=32&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%B8%8E%E7%A0%94%E5%8F%91%E8%BF%9B%E5%B1%95) The company's core technology system is built on integrated "optics, mechanics, electronics, computing, software" R&D, forming three core technology clusters with **18** key breakthroughs, driving continuous optimization of DefinSight software, significant R&D investment in 3DeVOK products, and iterative upgrades of industrial products, with R&D investment reaching **CNY 38.06 million** (up **40.52%**), **79** new IP applications, **209** cumulative authorized patents, and **10** ongoing R&D projects totaling over **CNY 800 million** in investment - The company's core laser 3D scanning products are based on integrated "optics, mechanics, electronics, computing, software" R&D technology, achieving high precision, high stability, high efficiency, and high portability[117](index=117&type=chunk)[118](index=118&type=chunk) - The company has formed three core technology clusters: 3D recognition and reconstruction technology, 3D stereo extension technology, and stereo vision calibration technology, mastering and breaking through **18** key technologies[118](index=118&type=chunk)[121](index=121&type=chunk)[127](index=127&type=chunk)[131](index=131&type=chunk) - During the reporting period, the company continuously optimized its all-scenario 3D digitalization software DefinSight, expanded downstream application modules, adapted to domestic operating systems, and embedded self-developed industrial measurement software modules[119](index=119&type=chunk) - R&D investment in professional products 3DeVOK significantly increased, with the launch of 3DeVOK MT and MQ new products, aiming to create more user-friendly productivity 3D scanning tools[97](index=97&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk) - Industrial products continue to iterate and upgrade, with the launch of KSCAN-X, KSCAN-E, SIMSCAN Gen2 handheld 3D vision digitalization products, NimbleTrack-CR tracking 3D vision digitalization products, and the new 6D position tracking system[100](index=100&type=chunk) 2025 First Half R&D Investment | Indicator | Amount (CNY) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Expensed R&D Investment | 38,057,027.64 | 40.52 | | Total R&D Investment as % of Operating Revenue | 21.52% | Increased by 3.49 percentage points | Intellectual Property Acquired During the Reporting Period | Category | New Applications in Current Period (units) | New Acquisitions in Current Period (units) | Cumulative Applications (units) | Cumulative Acquisitions (units) | | :--- | :--- | :--- | :--- | :--- | | Invention Patents | 38 | 10 | 244 | 94 | | Utility Model Patents | 25 | 13 | 135 | 93 | | Design Patents | 15 | 6 | 40 | 22 | | Software Copyrights | 1 | 3 | 51 | 50 | | Other | 0 | 0 | 2 | 2 | | **Total** | **79** | **32** | **472** | **261** | - The company has **10** ongoing R&D projects, with an estimated total investment of **CNY 805.80 million**, a current period investment of **CNY 36.59 million**, and a cumulative investment of **CNY 46.16 million**, primarily applied in industrial large-size automated inspection, 3D scanning, 3D reconstruction, dimension inspection, robot tracking, and positioning[141](index=141&type=chunk)[142](index=142&type=chunk)[144](index=144&type=chunk) [IV. Risk Factors](index=42&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E5%9B%A0%E7%B4%A0) The company faces operational, industry, and core competency risks, including potential declines in gross profit margins or sales due to changes in product sales structure, lower-than-expected customer demand, or weakening product technical advantages, as well as market demand contraction in downstream application sectors and the risk of R&D and innovation deviating from market trends - Operational Risk: The company's profitability is influenced by product sales structure, customer demand, and market sales strategies; an increase in the proportion of lower-margin product sales or lower-than-expected end-customer demand could lead to adverse effects[148](index=148&type=chunk) - Industry Risk: The company's products are widely applied in various downstream sectors; a contraction in market demand in key application areas such as aerospace, automotive manufacturing, engineering machinery, and transportation could lead to a decrease in company revenue[149](index=149&type=chunk) - Core Competency Risk: The company needs to continuously iterate and upgrade its technology and products to maintain core competitiveness; if product R&D and technological innovation deviate from market demand and industry development trends, the company may face pressure on its operating performance[150](index=150&type=chunk) [V. Key Operating Performance in the Reporting Period](index=43&type=section&id=%E4%BA%94%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) In the first half of 2025, the company's operating revenue grew by **17.70%** to **CNY 176.85 million**, with significant increases in operating costs, sales expenses, and R&D expenses, while financial expenses decreased substantially due to increased interest income from raised funds; assets like monetary capital, financial assets, inventory, and construction in progress rose significantly due to IPO proceeds and project construction, and the subsidiary Hangzhou Scantech Technology Co., Ltd. achieved a net profit of **CNY 37.32 million** [1. Main Business Analysis](index=43&type=section&id=%28%E4%B8%80%29%20%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In the first half of 2025, the company's operating revenue increased by **17.70%** to **CNY 176.85 million**, driven by global market expansion and product upgrades, while operating costs, sales expenses, and R&D expenses all saw significant increases, financial expenses decreased substantially due to increased interest income and exchange gains, and net cash flow from operating activities declined by **32.59%** due to increased inventory 2025 First Half Financial Statement Item Changes | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 176,848,509.44 | 150,248,052.96 | 17.70 | | Operating Cost | 45,056,421.01 | 36,922,933.20 | 22.03 | | Sales Expenses | 43,972,896.65 | 33,425,708.87 | 31.55 | | Administrative Expenses | 11,272,646.84 | 11,176,630.64 | 0.86 | | Financial Expenses | -5,118,843.32 | -2,038,366.03 | N/A | | R&D Expenses | 38,057,027.64 | 27,082,493.68 | 40.52 | | Net Cash Flow from Operating Activities | 31,159,083.37 | 46,225,989.56 | -32.59 | | Net Cash Flow from Investing Activities | -209,492,099.79 | -223,445,466.61 | N/A | | Net Cash Flow from Financing Activities | 455,140,580.93 | -2,234,630.88 | N/A | - Operating revenue growth was primarily due to global market expansion and professional product upgrades[154](index=154&type=chunk) - Sales expenses increased mainly due to strengthened overseas marketing team building and market promotion efforts[154](index=154&type=chunk) - Financial expenses changed primarily due to increased deposit interest income after the proceeds were received and increased exchange gains[154](index=154&type=chunk) - R&D expenses increased mainly due to continuous investment in technological innovation and product development, as well as an expanded R&D personnel scale[154](index=154&type=chunk) - Net cash flow from operating activities decreased primarily due to increased inventory for accelerated product iteration[154](index=154&type=chunk) [3. Analysis of Assets and Liabilities](index=44&type=section&id=%28%E4%B8%89%29%20%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E6%83%85%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, the company's total assets reached **CNY 1.27 billion**, a **69.88%** increase from the prior year-end, with significant growth in monetary capital, financial assets, inventory, and construction in progress, primarily driven by IPO proceeds and investment project construction, while notes payable increased by **147.61%** 2025 First Half Asset and Liability Status Changes | Item Name | Current Period End Amount (CNY) | Current Period End % of Total Assets | Prior Year End Amount (CNY) | Prior Year End % of Total Assets | Current Period End vs. Prior Year End Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Capital | 363,935,488.90 | 28.74 | 84,877,256.26 | 11.39 | 328.78 | Proceeds received | | Financial Assets Held for Trading | 191,206,363.76 | 15.10 | 10,008,904.11 | 1.34 | 1,810.36 | Purchase of wealth management products | | Inventory | 66,204,350.18 | 5.23 | 43,462,131.32 | 5.83 | 52.33 | Increased inventory | | Construction in Progress | 138,047,875.35 | 10.90 | 104,313,965.71 | 13.99 | 32.34 | Construction of investment projects | | Notes Payable | 19,478,801.57 | 1.54 | 7,866,585.26 | 1.06 | 147.61 | Increased new acceptance payments for goods | - At the end of the reporting period, the company's overseas assets amounted to **CNY 24.39 million**, accounting for **1.93%** of total assets[158](index=158&type=chunk) - As of June 30, 2025, restricted assets included a guarantee deposit of **CNY 116,400.00**[159](index=159&type=chunk) [4. Analysis of Investment Status](index=47&type=section&id=%28%E5%9B%9B%29%20%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company made no significant equity investments, but the fair value of financial assets measured at fair value at period-end reached **CNY 198.80 million**, a substantial increase from the beginning of the period, primarily due to the purchase of structured products and other wealth management products Changes in Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (CNY) | Fair Value Change Gain/Loss in Current Period (CNY) | Purchases in Current Period (CNY) | Sales/Redemptions in Current Period (CNY) | Ending Balance (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Financial Assets Held for Trading | 10,008,904.11 | 909,910.28 | 1,478,500,050.00 | 1,298,212,500.63 | 191,206,363.76 | | Notes Receivable Financing | 1,960,694.61 | - | - | - | 7,589,951.12 | | **Total** | **11,969,598.72** | **909,910.28** | **1,478,500,050.00** | **1,298,212,500.63** | **198,796,314.88** | [6. Analysis of Major Holding and Participating Companies](index=49&type=section&id=%28%E5%85%AD%29%20%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) This section primarily discloses the financial performance of Hangzhou Scantech Technology Co., Ltd., a key subsidiary responsible for software R&D services, with a registered capital of **CNY 3 million**, which achieved a net profit of **CNY 37.32 million** in the first half of 2025 Financial Data of Major Subsidiary Hangzhou Scantech Technology Co., Ltd. | Company Name | Company Type | Main Business | Registered Capital | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hangzhou Scantech Technology Co., Ltd. | Subsidiary | Software R&D services | CNY 3 million | 56,737,390.27 | 52,218,384.18 | 44,510,186.18 | 41,738,219.10 | 37,316,279.05 | [Section IV Corporate Governance, Environment and Society](index=51&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section covers changes in the company's directors, senior management, and core technical personnel, as well as the proposed profit distribution plan for the current period [I. Changes in Directors, Senior Management, and Core Technical Personnel](index=51&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%92%8C%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) There were no changes in the company's directors, senior management, or core technical personnel during the reporting period, and the criteria for identifying core technical personnel are clearly defined - There were no changes in the company's directors, senior management, or core technical personnel during the reporting period[170](index=170&type=chunk) - The company's criteria for identifying core technical personnel include: possessing strong professional technical capabilities and extensive industry experience, holding leadership positions in R&D and design, participating in major company R&D projects and being primary inventors for key patents, and making significant contributions to the company's core technology R&D[170](index=170&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=51&type=section&id=%E4%BA%8C%E3%80%81%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The company's 2025 semi-annual profit distribution plan proposes a cash dividend of **CNY 1.5** per **10 shares** (tax inclusive) to all shareholders, totaling **CNY 13.26 million**, representing **24.55%** of the net profit attributable to shareholders for the first half of 2025, with no bonus shares or capital reserve conversion, and has been approved by the board under prior shareholder authorization 2025 Semi-Annual Profit Distribution Plan | Indicator | Content | | :--- | :--- | | **Is there a distribution or conversion?** | Yes | | **Dividend per 10 shares (CNY) (tax inclusive)** | 1.5 | | **Total Proposed Cash Dividend** | CNY 13,260,000.00 (tax inclusive) | | **Percentage of 2025 H1 Net Profit Attributable to Shareholders** | 24.55% | | **Bonus Shares/Capital Reserve Conversion** | No bonus shares, no capital reserve conversion to share capital | - This profit distribution plan was approved by the company's second board of directors at its second meeting and authorized by the 2024 annual general meeting of shareholders, thus not requiring resubmission to the general meeting of shareholders for approval[171](index=171&type=chunk) [Section V Significant Matters](index=53&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details the fulfillment of commitments, significant related party transactions, and the progress of proceeds utilization during the reporting period [I. Fulfillment of Commitments](index=53&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) All commitments made by the company's actual controllers, controlling shareholders, directors, senior management, and other related parties, whether during or continuing into the reporting period, were strictly and timely fulfilled, covering share lock-up, price stabilization, share buybacks, fraudulent issuance buybacks, measures to mitigate diluted immediate returns, profit distribution policies, and avoidance of horizontal competition - Controlling shareholders and actual controllers Wang Jiangfeng, Chen Shangjian, and Zheng Jun committed to a **36-month** share lock-up, with a reduction price not lower than the offering price, and pledged to transfer no more than **25%** of their total shares annually while serving as directors, supervisors, or senior management[177](index=177&type=chunk)[179](index=179&type=chunk) - The company, controlling shareholders, actual controllers, directors, and senior management committed to share price stabilization measures, including company share repurchases, controlling shareholder/actual controller增持, and director/senior management增持, and strictly executed these measures when price triggers were met[191](index=191&type=chunk)[192](index=192&type=chunk)[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk)[198](index=198&type=chunk) - The company and its actual controllers/controlling shareholders committed that if there is any fraudulent issuance, they will initiate a share repurchase program within **five** working days after confirmation by the competent authority[200](index=200&type=chunk)[202](index=202&type=chunk)[203](index=203&type=chunk)[204](index=204&type=chunk) - The company, controlling shareholders, actual controllers, directors, and senior management committed to measures to compensate for diluted immediate returns, including strengthening the management of raised funds, accelerating the construction of investment projects, increasing sales revenue, and strictly implementing cash dividend policies[205](index=205&type=chunk)[206](index=206&type=chunk)[208](index=208&type=chunk)[209](index=209&type=chunk)[210](index=210&type=chunk)[211](index=211&type=chunk)[212](index=212&type=chunk)[213](index=213&type=chunk)[214](index=214&type=chunk)[215](index=215&type=chunk)[216](index=216&type=chunk) - Controlling shareholders and actual controllers committed to avoiding new horizontal competition; if business expansion might create competition, they will cease, integrate into the company's operations, or transfer the business to a third party to exit the competition[222](index=222&type=chunk)[223](index=223&type=chunk) - Controlling shareholders and actual controllers committed that if the company's net profit declines by **more than 50%** in the listing year, second year, or third year, they will extend the lock-up period of their shares by **12 months**[223](index=223&type=chunk)[224](index=224&type=chunk) [X. Significant Related Party Transactions](index=71&type=section&id=%E5%8D%81%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) In the first half of 2025, the company engaged in related party procurement of **CNY 0.40 million** with Hangzhou Zhongce Technology Co., Ltd., which was within the annual approved limit of **CNY 6 million**, and key management personnel compensation totaled **CNY 2.61 million** - The company's board of directors convened a meeting on April 24, 2025, and approved the "Resolution on Confirming 2024 Daily Related Party Transactions and Estimating 2025 Daily Related Party Transactions," projecting related party transactions for 2025 to be within **CNY 6 million**[227](index=227&type=chunk) 2025 First Half Related Party Procurement of Goods/Services | Related Party | Related Transaction Content | Amount in Current Period (CNY) | Approved Transaction Limit (CNY) | Exceeded Transaction Limit | | :--- | :--- | :--- | :--- | :--- | | Hangzhou Zhongce Technology Co., Ltd. | Scanners, etc. | 400,334.62 | 6,000,000.00 | No | Key Management Personnel Compensation | Item | Amount in Current Period (CNY 10,000) | Amount in Prior Period (CNY 10,000) | | :--- | :--- | :--- | | Key Management Personnel Compensation | 261.32 | 259.40 | [XII. Explanation of Proceeds Utilization Progress](index=75&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E8%BF%9B%E5%B1%95%E8%AF%B4%E6%98%8E) As of the end of the reporting period, the company's total proceeds amounted to **CNY 493.44 million**, with a cumulative investment of **CNY 125.68 million**, representing a **25.47%** utilization rate, allocated to 3D vision digitalization product capacity expansion, R&D center construction, and working capital, including the replacement of self-raised funds, adjustments to project investment amounts and timelines, and cash management of idle proceeds totaling **CNY 171.20 million** Overall Proceeds Utilization | Total Proceeds (1) | Net Proceeds (2) | Committed Investment (3) | Cumulative Investment as of Period-End (4) | Utilization Progress (%) (6)=(4)/(1) | | :--- | :--- | :--- | :--- | :--- | | CNY 568.82 million | CNY 493.44 million | CNY 568.96 million | CNY 125.68 million | 25.47 | Proceeds Utilization Details by Project | Project Name | Planned Investment from Proceeds (1) (CNY 10,000) | Cumulative Investment from Proceeds as of Period-End (2) (CNY 10,000) | Cumulative Investment Progress (%) (3)=(2)/(1) | | :--- | :--- | :--- | :--- | | 3D Vision Digitalization Product and Automated Inspection System Capacity Expansion Project | 19,679.10 | 4,998.77 | 25.40 | | R&D Center Base Construction Project | 28,497.03 | 7,146.83 | 25.08 | | Supplementing Working Capital | 1,167.92 | 422.09 | 36.14 | | **Total** | **49,344.05** | **12,567.68** | **/** | - The company has used proceeds to replace self-raised funds totaling **CNY 95.08 million** that were pre-invested in investment projects and used to pay issuance expenses[237](index=237&type=chunk) - The company manages idle proceeds through cash management, with a board-approved limit of **CNY 400 million**, and a period-end cash management balance of **CNY 171.20 million**[239](index=239&type=chunk) - The company adjusted the planned investment amount and construction period for its proceeds investment projects, and disclosed relevant announcements on February 17, 2025[241](index=241&type=chunk) [Section VI Share Changes and Shareholder Information](index=79&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section provides an overview of the company's share capital changes, including the impact of its initial public offering and capital reserve conversion, as well as detailed information on its shareholders and the shareholdings of directors, senior management, and core technical personnel [I. Share Capital Changes](index=79&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital increased from **51 million shares** to **88.4 million shares**, primarily due to the initial public offering of **17 million A-shares** and the conversion of capital reserves into **20.4 million shares** (3 shares for every 10 shares), resulting in **71.79 million restricted shares** and **16.61 million unrestricted tradable shares** Share Capital Change Table | Share Category | Beginning Balance (shares) | Beginning Balance (%) | New Shares Issued in Current Period (shares) | Capital Reserve Conversion in Current Period (shares) | Subtotal in Current Period (shares) | Ending Balance (shares) | Ending Balance (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Restricted Shares | 51,000,000 | 100 | 4,219,653 | 16,565,896 | 20,785,549 | 71,785,549 | 81.21 | | Unrestricted Tradable Shares | - | - | 12,780,347 | 3,834,104 | 16,614,451 | 16,614,451 | 18.79 | | **Total Shares** | **51,000,000** | **100** | **17,000,000** | **20,400,000** | **37,400,000** | **88,400,000** | **100** | - The company's initial public offering of **17 million** RMB ordinary shares (A-shares) was listed on the Shanghai Stock Exchange STAR Market on January 15, 2025[247](index=247&type=chunk) - The company's 2024 annual general meeting of shareholders, held on May 27, 2025, approved the conversion of capital reserves into **3 shares** for every **10 shares** to all shareholders, increasing the total share capital from **68 million shares** to **88.4 million shares**, with the equity distribution completed on June 18, 2025[248](index=248&type=chunk) Restricted Share Changes (Selected Major Shareholders) | Shareholder Name | Beginning Restricted Shares | Restricted Shares Increased in Current Period | Ending Restricted Shares | Reason for Restriction | Date of Lifting Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Wang Jiangfeng | 11,343,263 | 3,402,979 | 14,746,242 | IPO Restricted Shares | 36 months from listing date | | Chen Shangjian | 9,871,636 | 2,961,491 | 12,833,127 | IPO Restricted Shares | 36 months from listing date | | Zheng Jun | 9,135,816 | 2,740,745 | 11,876,561 | IPO Restricted Shares | 36 months from listing date | | Hangzhou Scantech 3D Technology Partnership (Limited Partnership) | 4,847,967 | 1,454,390 | 6,302,357 | IPO Restricted Shares | 36 months from listing date | | Zhejiang Rushan Emerging Venture Capital Co., Ltd. | 2,320,793 | 696,238 | 3,017,031 | IPO Restricted Shares | 12 months from listing date | [II. Shareholder Information](index=87&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **7,710** common shareholders, with Wang Jiangfeng, Chen Shangjian, Zheng Jun, and their controlled employee shareholding platforms forming a concerted action group with a high combined shareholding, and CITIC Securities Investment Co., Ltd. holding **2.51%** as a lead underwriter's subsidiary; Qiu Lihua was the largest unrestricted shareholder with **2.67 million shares** Total Common Shareholders as of Period-End | Indicator | Quantity (shareholders) | | :--- | :--- | | Total Common Shareholders as of Period-End | 7,710 | Top Ten Shareholders as of Period-End (Selected) | Shareholder Name | Ending Shareholding (shares) | Percentage (%) | Restricted Shares Held (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Wang Jiangfeng | 14,746,242 | 16.68 | 14,746,242 | Domestic Natural Person | | Chen Shangjian | 12,833,127 | 14.52 | 12,833,127 | Domestic Natural Person | | Zheng Jun | 11,876,561 | 13.44 | 11,876,561 | Domestic Natural Person | | Hangzhou Scantech 3D Technology Partnership (Limited Partnership) | 6,302,357 | 7.13 | 6,302,357 | Other | | Hangzhou Scantech Juchuang Information Technology Partnership (Limited Partnership) | 6,207,725 | 7.02 | 6,207,725 | Other | | Hangzhou Siding Information Technology Service Partnership (Limited Partnership) | 4,525,546 | 5.12 | 4,525,546 | Other | | Zhejiang Rushan Emerging Venture Capital Co., Ltd. | 3,017,031 | 3.41 | 3,017,031 | Domestic Non-State-Owned Legal Person | | Qiu Lihua | 2,670,700 | 3.02 | 0 | Domestic Natural Person | | CITIC Securities Investment Co., Ltd. | 2,222,416 | 2.51 | 2,222,416 | Domestic Non-State-Owned Legal Person | | Jiaxing Huarui Buguniao Venture Capital Partnership (Limited Partnership) | 1,117,420 | 1.26 | 1,117,420 | Other | - Wang Jiangfeng, Chen Shangjian, Zheng Jun, Hangzhou Scantech 3D Technology Partnership, Hangzhou Scantech Juchuang Information Technology Partnership, and Hangzhou Siding Information Technology Service Partnership constitute a concerted action group[259](index=259&type=chunk)[260](index=260&type=chunk) Top Ten Unrestricted Shareholders as of Period-End (Selected) | Shareholder Name | Unrestricted Tradable Shares Held (shares) | Share Type | | :--- | :--- | :--- | | Qiu Lihua | 2,670,700 | RMB Ordinary Shares | | China Construction Bank Co., Ltd. - BlackRock China New Horizon Mixed Securities Investment Fund | 300,000 | RMB Ordinary Shares | | China Merchants Bank Co., Ltd. - Ping An Advanced Manufacturing Theme Stock Initiated Securities Investment Fund | 275,132 | RMB Ordinary Shares | | China Construction Bank Co., Ltd. - Changjiang Smart Manufacturing Mixed Initiated Securities Investment Fund | 228,878 | RMB Ordinary Shares | | Huatai Securities Co., Ltd. | 210,864 | RMB Ordinary Shares | [III. Directors, Senior Management, and Core Technical Personnel Information](index=93&type=section&id=%E4%B8%89%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%92%8C%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) During the reporting period, the shareholdings of the company's Chairman and General Manager Wang Jiangfeng, Director and Deputy General Manager Chen Shangjian, and Director and Chief Engineer Zheng Jun (all core technical personnel) increased due to the implementation of an equity distribution (capital reserve conversion to share capital) Directors, Senior Management, and Core Technical Personnel Shareholding Changes | Name | Position | Beginning Shareholding (shares) | Ending Shareholding (shares) | Change in Shares During Reporting Period (shares) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Wang Jiangfeng | Chairman, General Manager | 11,343,263 | 14,746,242 | 3,402,979 | Implementation of equity distribution: capital reserve conversion of 3 shares for every 10 shares to all shareholders | | Chen Shangjian | Director, Deputy General Manager, Core Technical Personnel | 9,871,636 | 12,833,127 | 2,961,491 | Implementation of equity distribution: capital reserve conversion of 3 shares for every 10 shares to all shareholders | | Zheng Jun | Director, Chief Engineer, Core Technical Personnel | 9,135,816 | 11,876,561 | 2,740,745 | Implementation of equity distribution: capital reserve conversion of 3 shares for every 10 shares to all shareholders | [Section VII Bond-Related Information](index=95&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms that the company had no corporate bonds, enterprise bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds during the reporting period - During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments, nor did it have any convertible corporate bonds[270](index=270&type=chunk) [Section VIII Financial Report](index=96&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's financial statements, including the audit report, balance sheets, income statements, cash flow statements, statements of changes in equity, and detailed notes on accounting policies, taxation, and various financial items [I. Audit Report](index=96&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This semi-annual report is unaudited - This semi-annual report is unaudited[5](index=5&type=chunk) [II. Financial Statements](index=96&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section includes the company's consolidated and parent company balance sheets as of June 30, 2025, and consolidated and parent company income statements, cash flow statements, and statements of changes in owners' equity for January-June 2025, comprehensively presenting the company's financial position at period-end and its operating results, cash flows, and changes in owners' equity during the reporting period [III. Company Basic Information](index=119&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) ScanTech (Hangzhou) Co., Ltd., formerly Hangzhou Scantech Technology Co., Ltd., was restructured on August 24, 2022, listed on the Shanghai Stock Exchange STAR Market on January 15, 2025, with a registered capital of **CNY 88.4 million**, specializing in the R&D, production, and sales of 3D vision digitalization products and systems within the high-end equipment manufacturing industry - The company's predecessor was Hangzhou Scantech Technology Co., Ltd., which was restructured on August 24, 2022, and listed on the Shanghai Stock Exchange STAR Market on January 15, 2025[308](index=308&type=chunk) - The company's current registered capital is **CNY 88.4 million**, with a total share capital of **88.4 million shares**[308](index=308&type=chunk) - The company belongs to the high-end equipment manufacturing industry, with its main business activities being the R&D, p