Market Overview - The software development sector experienced a decline of 3.6% on September 2, with Sifang Jingchuang leading the drop [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Notable gainers in the software development sector included: - Keda Automation (Code: 831832) with a closing price of 28.13, up 7.08% [1] - Yinzhijie (Code: 300085) with a closing price of 59.00, up 2.52% [1] - Hengtai Open Source (Code: 834415) with a closing price of 18.50, up 2.49% [1] - Major decliners included: - Sifang Jingchuang (Code: 300468) with a closing price of 42.86, down 10.39% [2] - Wangda Software (Code: 603189) with a closing price of 21.35, down 9.34% [2] - Jin Chengzi (Code: 688291) with a closing price of 38.21, down 9.30% [2] Capital Flow - The software development sector saw a net outflow of 10.057 billion yuan from institutional investors, while retail investors experienced a net inflow of 8.511 billion yuan [2] - The capital flow for specific stocks indicated: - Keda Xunfei (Code: 002230) had a net inflow of 2.69 billion yuan from institutional investors [3] - Qianxin (Code: 688561) had a net inflow of 77.12 million yuan from institutional investors [3] - Information Development (Code: 300469) had a net inflow of 67.82 million yuan from institutional investors [3]

Core Viewpoint - Lingzhi Software announced that it did not conduct any share buybacks in August 2025, with a total of 3,750,000 shares repurchased by August 31, 2025, representing 0.9375% of the company's total share capital [1] Summary by Relevant Sections - **Share Buyback Activity** - As of August 31, 2025, the company has repurchased a total of 3,750,000 shares through the Shanghai Stock Exchange, which accounts for 0.9375% of its total share capital [1]

Core Viewpoint - Lingzhi Software announced a share buyback program, indicating confidence in its financial health and future prospects [1] Group 1: Share Buyback Details - As of August 31, 2025, the company has repurchased a total of 3.75 million shares, representing approximately 0.9375% of its total share capital of around 400 million shares [1] - The highest price paid for the repurchased shares was 14.75 CNY per share, while the lowest price was 11.66 CNY per share, with a total expenditure of approximately 49.7 million CNY [1] Group 2: Financial Performance - For the year 2024, the revenue composition of Lingzhi Software is as follows: software and information technology services account for 99.74%, while other businesses contribute 0.26% [1] - The current market capitalization of Lingzhi Software is 8 billion CNY [1]

Group 1 - The company Lingzhi Software (688588.SH) announced a share buyback program, having repurchased a total of 3.75 million shares, which represents 0.9375% of its total share capital [1] - The highest price paid for the repurchased shares was 14.75 CNY per share, while the lowest price was 11.66 CNY per share [1] - The total amount spent on the share buyback was approximately 49.70 million CNY, excluding transaction fees such as stamp duty and commissions [1]

证券代码：688588 证券简称：凌志软件 公告编号：2025-048 苏州工业园区凌志软件股份有限公司 关于第二期以集中竞价交易方式回购股份的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/9/6 | | | | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 9 5 年 9 月 4 日 | 月 | 日~2025 | | 预计回购金额 | 3,000万元~5,000万元 | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | 累计已回购股数 | □为维护公司价值及股东权益 3,750,000股 | | | | 累计已回购股数占总股本比例 | 0.9375% | | | | 累计已回购金额 | 49,702,692.48元（不含印花税、交易佣金等交易 | | | | | 费用） | | | | 实际回购价格区间 | 11.66元/股~14.75元/股 | | | 一、 ...

Core Viewpoint - Lingzhi Software (688588) reported mixed financial results for the first half of 2025, with a decline in total revenue but a significant increase in net profit, indicating potential operational challenges and improved profitability metrics [1][3]. Financial Performance - Total revenue for the first half of 2025 was 516 million yuan, a decrease of 3.04% year-on-year [1]. - Net profit attributable to shareholders reached 112 million yuan, showing a substantial increase of 1002.2% compared to the previous year [1]. - In Q2 2025, total revenue was 263 million yuan, down 0.15% year-on-year, while net profit for the quarter was 46.44 million yuan, up 132.35% [1]. Profitability Metrics - Gross margin was reported at 26.91%, a decrease of 12.14% year-on-year [1]. - Net margin improved significantly to 21.72%, an increase of 1042.67% year-on-year [1]. - Earnings per share (EPS) rose to 0.29 yuan, reflecting an increase of 866.67% year-on-year [1]. Cost and Expense Analysis - Total selling, administrative, and financial expenses amounted to -22.70 million yuan, representing a decrease of 116.11% year-on-year as a percentage of revenue [1]. - Operating cash flow per share was reported at 0.04 yuan, a decline of 76.94% year-on-year [1]. Balance Sheet Insights - Accounts receivable increased to 133 million yuan, up 3.80% year-on-year, with accounts receivable to net profit ratio at 106.67% [1][3]. - Interest-bearing liabilities rose significantly to 380 million yuan, an increase of 119.08% year-on-year [1]. Investment Returns - The company's return on invested capital (ROIC) for the previous year was 8.64%, indicating average capital returns [3]. - Historical median ROIC since listing stands at 15.44%, with the lowest recorded ROIC in 2023 at 6.22% [3]. Analyst Expectations - Analysts project that Lingzhi Software's performance for 2025 will reach 250 million yuan in revenue, with an average EPS forecast of 0.62 yuan [3].

Core Viewpoint - The report highlights the financial performance and strategic direction of Linkage Software Co., Ltd., emphasizing its growth in net profit and the impact of currency fluctuations on its operations [3][12]. Company Overview and Financial Indicators - Linkage Software Co., Ltd. is primarily engaged in software development for the financial sector, focusing on both Japanese and domestic markets [6][7]. - For the first half of 2025, the company reported a revenue of approximately 515.59 million RMB, a decrease of 3.04% compared to the previous year [3]. - The total profit for the period was approximately 126.50 million RMB, reflecting a significant increase of 614.10% year-on-year [3]. - The net profit attributable to shareholders reached approximately 111.97 million RMB, marking a substantial increase of 1002.20% compared to the same period last year [3]. - The company's R&D investment amounted to approximately 40.39 million RMB, representing an 18.06% increase year-on-year, with R&D expenses accounting for 7.83% of revenue [13]. Industry Context - The software and information technology services industry in China is experiencing robust growth, with software business revenue reaching 705.85 billion RMB in the first half of 2025, a year-on-year increase of 11.9% [12]. - The industry is undergoing a transformation driven by emerging technologies such as AI, cloud computing, and big data, which are reshaping business models and operational efficiencies [12][20]. - The AI Agent market is projected to grow significantly, with an expected compound annual growth rate of 40.15% from 2024 to 2035, indicating a strong trend towards automation and intelligent services in the software sector [12]. Business Operations and Strategy - The company has established itself as a key player in the Japanese financial software market, providing core systems for securities, banking, and insurance sectors [7][8]. - Linkage Software is leveraging AI technologies to enhance software development efficiency and improve service delivery in both domestic and international markets [12][13]. - The company is focusing on expanding its domestic application software solutions, targeting various financial institutions and enhancing its competitive edge through continuous product innovation [8][20].

Core Viewpoint - The report summarizes the financial performance of Suzhou Industrial Park Lingzhi Software Co., Ltd. for the first half of 2025, highlighting significant changes in revenue and profit metrics compared to the previous year [1]. Company Overview - Company code: 688588 - Company name: Suzhou Industrial Park Lingzhi Software Co., Ltd. - Stock type: RMB ordinary shares (A-shares) listed on the Shanghai Stock Exchange Sci-Tech Innovation Board [2]. Financial Performance - Total assets at the end of the reporting period reached approximately 1.86 billion RMB, an increase of 3.67% from the previous year [2]. - Operating revenue for the period was approximately 515.59 million RMB, a decrease of 3.04% compared to 531.75 million RMB in the same period last year [2]. - Total profit amounted to approximately 126.50 million RMB, a significant increase of 614.10% from 17.71 million RMB in the previous year [2]. - Net profit attributable to shareholders of the listed company was approximately 107.13 million RMB, compared to a loss of 20.65 million RMB in the same period last year [2]. Shareholder Information - The total number of shareholders as of the reporting period was 17,393 [3]. - Major shareholders include Zhang Baoquan with 19.86% ownership and Wu Yanfang with 16.67% ownership [3][4].

Group 1 - The company reported a revenue of 516 million yuan for the first half of the year, representing a year-on-year decrease of 3.04% [1] - The net profit attributable to shareholders reached 112 million yuan, showing a significant year-on-year increase of 1002.2% [1] - The company highlighted breakthroughs in domestic application software solutions in areas such as institutional service refinement, intelligent due diligence for investment banks, and buy-side advisory toolchains during the reporting period [1]

业绩简评 2025 年 8 月 28 日，公司披露 2025 年度中期业绩：公司 2025 年 上半年实现营收 5.2 亿元，同比下滑 3.0%；利润总额为 1.1 亿元， 同比增长 614.1%；扣非后归母净利润为 1.1 亿元，较上年同期扭 亏，主要系报告期内日元汇率上升，而去年同期日元汇率下行，本 期汇兑损益增加所致。 2025 年第二季度，公司营业收入为 2.6 亿元，同比下滑 0.2%，下 滑幅度较第一季度缩窄；扣非后归母净利润为 0.5 亿元，较上年同 期扭亏。 经营分析 报告期内，日元汇率上升，对公司业绩带来积极影响。此外，公司 积极探索用 AI技术提升软件开发效率，研发费用同比增长 18.1%。 但整体而言，公司依然注重降本提效，上半年人员为 2,863 人，同 比下滑 2.7%。我们认为公司预计将持续受益于善用 AI 工具带来 的降本提效。 报告期内，公司推出限制性股票激励计划，拟授予 2,000 万股限 制性股票，覆盖 120 名员工，授予价格为 11.0 元/股。以 2024 年 净利润或营业总收入为基数，2025 年触发激励的考核目标为营收 增长 8%或净利润增长 18%，2026 年 ...