Market Performance - On September 11, the black home appliance sector rose by 2.0%, with Jiulian Technology leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Stock Performance - Jiulian Technology (688609) closed at 10.54, up 4.05% with a trading volume of 169,500 shares and a turnover of 175 million yuan [1] - Sichuan Changhong (600839) closed at 10.73, up 3.27% with a trading volume of 2.18 million shares and a turnover of 2.31 billion yuan [1] - Non-Axis Co., Ltd. (002429) closed at 5.94, up 4.03% with a trading volume of 1.81 million shares and a turnover of 1.06 billion yuan [1] Capital Flow - The black home appliance sector saw a net inflow of 350 million yuan from main funds, while retail funds experienced a net outflow of 307 million yuan [1] - Main funds showed varying net inflows and outflows across different stocks, with Sichuan Changhong receiving a net inflow of 23.3 million yuan [2] - Jiulian Technology had a net inflow of 3.3 million yuan from main funds, while retail investors showed a net outflow of 626,000 yuan [2]

Core Viewpoint - Jiulian Technology (688609.SH) reported a significant decline in revenue and net profit for the first half of 2025, indicating potential challenges in its business operations and financial health [1][2]. Financial Performance Summary - The company achieved operating revenue of 1.101 billion yuan in the first half of 2025, a decrease of 17.60% compared to the same period last year [2]. - The net profit attributable to shareholders was -123.15 million yuan, compared to -54.44 million yuan in the previous year [2]. - The net profit excluding non-recurring gains and losses was -121.02 million yuan, down from -55.69 million yuan year-on-year [2]. - The net cash flow from operating activities was 105.82 million yuan, a decline of 29.36% from the previous year [2]. Historical Context - Jiulian Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on March 23, 2021, with an initial issuance of 100 million shares at a price of 3.99 yuan per share [3]. - The total amount raised from the initial public offering was 399 million yuan, with a net amount of 345 million yuan after expenses [3]. - The company planned to use the raised funds for expanding production of home network communication terminal equipment, developing IoT mobile communication modules, and upgrading its R&D center [3].

Market Overview - The black home appliance sector experienced a decline of 2.11% on September 3, with Sichuan Jiuzhou leading the drop [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Stock Performance - Notable gainers included: - XGIMI Technology (688696) with a closing price of 133.60, up 3.65% [1] - *ST Gauss (002848) at 9.18, up 2.34% [1] - Zhao Chi Co., Ltd. (002429) at 5.73, up 2.14% [1] - Significant decliners included: - Sichuan Jiuzhou (000801) at 16.04, down 7.55% [1] - Sichuan Changhong (600839) at 10.64, down 3.62% [1] - NineLink Technology (688609) at 10.50, down 3.58% [1] Capital Flow - The black home appliance sector saw a net outflow of 331 million yuan from institutional investors, while retail investors had a net inflow of 364 million yuan [1] - Detailed capital flow for selected stocks showed: - Zhao Chi Co., Ltd. (002429) had a net inflow of 19.66 million yuan from institutional investors [2] - Sichuan Jiuzhou (000801) experienced a net outflow of 82.99 million yuan from institutional investors [2] - Retail investors contributed a net inflow of 88.90 million yuan to Sichuan Jiuzhou [2]

Market Overview - The black home appliance sector experienced a decline of 2.63% on September 2, with JiLian Technology 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 - Key stocks in the black home appliance sector showed varied performance, with the following notable changes: - XGIMI Technology (688696) rose by 2.09% to a closing price of 128.90 [1] - Hisense Visual (600060) increased slightly by 0.09% to 22.07 [1] - ST Gauss (002848) fell by 1.54% to 8.97 [1] - Sichuan Jiuzhou (000801) decreased by 1.81% to 17.35 [1] - Skyworth Digital (000810) dropped by 2.63% to 12.21 [1] - Other significant declines included Sichuan Changhong (600839) down 4.33% and JiLian Technology (688609) down 5.06% [1] Capital Flow - The black home appliance sector saw a net outflow of 805 million yuan from main funds, while retail investors contributed a net inflow of 724 million yuan [1] - Detailed capital flow for specific stocks indicated: - JiLian Technology had a main fund net outflow of 42.27 million yuan [2] - Sichuan Jiuzhou experienced a significant outflow of 92.15 million yuan [2] - Non-chi shares (002429) faced a net outflow of 90.21 million yuan [2]

Core Viewpoint - Jiulian Technology (688609) reported a significant decline in financial performance for the first half of 2025, with a net profit decrease of 126.21% and total revenue down by 17.6% compared to the previous year [1] Financial Performance Summary - Total revenue for the first half of 2025 was 1.101 billion yuan, a decrease of 17.6% from 1.337 billion yuan in the same period of 2024 [1] - The net profit attributable to shareholders was -123 million yuan, down 126.21% from -54.44 million yuan in the previous year [1] - The gross profit margin fell to 9.86%, a decline of 25.74% year-on-year, while the net profit margin was -11.6%, a drop of 159.21% [1] - Total expenses (selling, administrative, and financial) amounted to 137 million yuan, representing 12.4% of revenue, an increase of 30.83% year-on-year [1] - Earnings per share were -0.25 yuan, a decrease of 126.22% from -0.11 yuan in the previous year [1] Cash Flow and Debt Situation - The cash flow situation is concerning, with cash and cash equivalents at 277 million yuan, down 14.82% from 326 million yuan [1] - The company has a debt ratio of 40.52% for interest-bearing liabilities, indicating a potential risk in debt management [4] - The average operating cash flow over the past three years has been negative, raising concerns about the company's liquidity [4] Business Evaluation - The company's historical return on invested capital (ROIC) has been poor, with a median ROIC of 8.49% since its listing, and a particularly low ROIC of -8.15% in 2023 [3] - The business model appears fragile, with two out of three annual reports showing losses since the company went public [3] Strategic Focus - The company is focusing on smart manufacturing, with investments in products such as laser radar, sweeping robots, and energy storage battery packs [5] - Continuous efforts are being made to push new products into mass production, indicating a strategic pivot towards innovation [5]

证券日报网讯 8月29日晚间，九联科技发布公告称，公司第六届董事会第四次会议审议通过了《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》等多项议案。 （文章来源：证券日报） ...

证券代码：688609 证券简称：九联科技 公告编号：2025-042 广东九联科技股份有限公司 第六届董事会第四次会议决议公告 一、董事会会议召开情况 广东九联科技股份有限公司（以下简称"公司"）第六届董事会第四次会议 （以下简称"本次会议"）于 2025 年 8 月 28 日以现场会议结合通讯表决方式召 开，由董事长詹启军召集并主持，本次会议应出席董事 7 名，实际出席董事 7 名，本次会议的召集、召开符合《中华人民共和国公司法》等有关法律、法规、 规则以及《广东九联科技股份有限公司章程》的有关规定。 二、董事会会议审议情况 (一)《关于审议 <广东九联科技股份有限公司 ensp="ensp" 年半年度报告="年半年度报告"> 及其摘要 的议案》 表决结果：7 票赞成，0 票反对，0 票弃权，0 票回避；获全体董事一致通过。 本议案已经董事会审计委员会审议通过。 具 体 内 容 详 见 公 司 2025 年 8 月 30 日 刊 载 于 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）及指定媒体披露的《广东九联科技股份有限公司 2025 年半 年度报告》以及《广东九联科技股份有限公司 ...

证券代码：688609 证券简称：九联科技 公告编号：2025-043 广东九联科技股份有限公司 2025 年半年度募集资金存放与实际使用情况 的专项报告 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。 广东九联科技股份有限公司（以下简称"九联科技"、"本公司"或"公 司"）董事会根据《上市公司募集资金监管规则》及《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》的规定，编制了截至 2025 年 6 月 30 日公司首次公开发行 A 股股票募集资金存放与实际使用情况的专项报告。现将 公司截至 2025 年 6 月 30 日的募集资金存放与实际使用情况专项说明如下： 一、募集资金基本情况 （一）实际募集资金金额及资金到账情况 经中国证券监督管理委员会出具的《关于同意广东九联科技股份有限公司首 次公开发行股票注册的批复》（证监许可[2021]349 号）同意，公司首次公开发行 人民币普通股股票 10,000 万股，每股发行价格为人民币 3.99 元，募集资金总额 为人民币 39,900.00 万元，扣除发行费 ...

单位：万元 人民币 | 项目 | 本期计提金额 | | --- | --- | | 一、信用减值损失（损失以"-"号填列） | -2,560.57 | | 应收票据坏账损失 | 328.95 | | 应收账款坏账损失 | -2,820.98 | | 其他应收款坏账损失 | -68.54 | | 二、资产减值损失（损失以"-"号填列） | -1,266.24 | | 存货跌价损失 | -1,266.24 | | 合计 | -3,826.82 | 证券代码：688609 证券简称：九联科技 公告编号：2025-044 广东九联科技股份有限公司 关于 2025 年半年度计提资产减值准备的公告 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。 广东九联科技股份有限公司（以下简称"公司"）根据《企业会计准则第 8 号——资产减值》和会计政策、会计估计的相关规定，结合公司的实际情况，为 客观、公允地反映公司截至 2025 年 6 月 30 日的财务状况及 2025 年半年度的经 营成果，本着谨慎性原则，公司及下属子公司对截至 2025 ...

证券代码：688609 证券简称：九联科技 公告编号：2025-042 广东九联科技股份有限公司 第六届董事会第四次会议决议公告 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。 一、董事会会议召开情况 广东九联科技股份有限公司（以下简称"公司"）第六届董事会第四次会议 （以下简称"本次会议"）于 2025 年 8 月 28 日以现场会议结合通讯表决方式召 开，由董事长詹启军召集并主持，本次会议应出席董事 7 名，实际出席董事 7 名，本次会议的召集、召开符合《中华人民共和国公司法》等有关法律、法规、 规则以及《广东九联科技股份有限公司章程》的有关规定。 二、董事会会议审议情况 (一)《关于审议<广东九联科技股份有限公司 2025 年半年度报告>及其摘要 的议案》 表决结果：7 票赞成，0 票反对，0 票弃权，0 票回避；获全体董事一致通过。 本议案已经董事会审计委员会审议通过。 具 体 内 容 详 见 公 司 2025 年 8 月 30 日 刊 载 于 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）及 ...