国联民生证券承销保荐有限公司关于 碧兴物联科技（深圳）股份有限公司 2025 年半年度持续督导跟踪报告 | | 对上市公司的信息披露文件及向中国证监 | | | | --- | --- | --- | --- | | | 会、上海证券交易所提交的其他文件进行 | | | | | 事前审阅，对存在问题的信息披露文件及 | | | | | 时督促公司予以更正或补充，公司不予更正 | | | | | 或补充的，应及时向上海证券交易所报告； | 保荐机构对碧兴物联的信息披露文 | | | 10 | 对上市公司的信息披露文件未进行事前审 | 件进行了审阅，不存在应及时向上海 | | | | 阅的，应在上市公司履行信息披露义务后 5 | 证券交易所报告的情况 | | | | 个交易日内，完成对有关文件的审阅工作， | | | | | 对存在问题的信息披露文件应及时督促上 | | | | | 市公司更正或补充，上市公司不予更正或补 | | | | | 充的，应及时向上海证券交易所报告 | | | | | 关注上市公司或其控股股东、实际控制人、 | | | | | 董事、监事、高级管理人员受到中国证监会 | 本持续督导期内， ...

Market Overview - On August 27, the environmental equipment sector declined by 2.61%, with Bixing Wulian leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Stock Performance - Notable gainers in the environmental equipment sector included: - Fida Environmental (600526) with a closing price of 5.62, up 5.24% and a trading volume of 903,600 shares, totaling 502 million yuan [1] - Qinda Environmental (688501) closed at 32.00, up 4.37% with a trading volume of 51,000 shares, totaling 162 million yuan [1] - Significant decliners included: - Bixing Wulian (688671) closed at 22.51, down 5.70% with a trading volume of 33,500 shares, totaling 77.19 million yuan [2] - Hengying Environmental (688309) closed at 27.71, down 5.62% with a trading volume of 51,000 shares, totaling 146 million yuan [2] Capital Flow - The environmental equipment sector experienced a net outflow of 268 million yuan from institutional investors, while retail investors saw a net inflow of 112 million yuan [2] - Key stocks with notable capital flows included: - Fida Environmental had a net inflow of 17.23 million yuan from institutional investors, while retail investors had a net outflow of 76.53 million yuan [3] - Bixing Wulian saw a net inflow of 6.74 million yuan from institutional investors, with a net outflow of 1.88 million yuan from retail investors [3]

Group 1 - The core viewpoint of the news is the performance and market position of Bixing IoT, which experienced a decline in stock price and has a significant market capitalization [1] - Bixing IoT's main business areas include smart environmental monitoring and public safety big data, with revenue contributions from various segments such as digital ecology and digital water management [1] - The company was established on January 18, 2012, and went public on August 9, 2023, with a current stock price of 22.66 CNY per share and a total market value of 1.779 billion CNY [1] Group 2 - The fund "Zhongjia Specialized and New Quantitative Stock Selection Mixed Initiation A" holds a significant position in Bixing IoT, ranking as the eighth largest holding in the fund [2] - As of the latest report, the fund has a total asset size of 29.0192 million CNY and has achieved a year-to-date return of 57.52% [2] - The fund manager, Lin Muchen, has been in charge for 2 years and 124 days, with the best fund return during this period being 56.91% [3]

Group 1 - The core viewpoint of the article is that Bixing Wulian (688671.SH) reported its semi-annual results for 2025, highlighting the institutional investor holdings and changes in public fund disclosures [1] - As of August 26, 2025, a total of 9 institutional investors disclosed holdings in Bixing Wulian A-shares, with a combined holding of 42.1802 million shares, representing 53.72% of the total share capital [1] - The institutional investor holding ratio decreased by 0.13 percentage points compared to the previous quarter [1] Group 2 - Two new public funds were disclosed in this period compared to the previous quarter, including Zhongjia Specialized and New Quantitative Stock Selection Mixed Fund A and Huiquan Qiyuan Future Mixed Fund A [1]

证券代码：688671 证券简称：碧兴物联 公告编号：2025-039 碧兴物联科技（深圳）股份有限公司 本公司监事会及全体监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。 一、监事会会议召开情况 碧兴物联科技（深圳）股份有限公司（以下简称"公司"）第二届监事会第 十一次会议于 2025 年 8 月 25 日上午 11 时 30 分在公司会议室以现场及通讯方式 召开。本次会议已于 2025 年 8 月 15 日以电子邮件方式提前通知全体监事。本次 会议由监事会主席庞莉女士召集并主持，会议应参与表决监事 3 人，实际参与表 决监事 3 人。本次会议的召集、召开及决议程序符合《中华人民共和国公司法》 和《公司章程》的规定。 二、监事会会议审议情况 经全体监事认真审议后，通过了如下决议： （一）审议通过《关于公司 2025 年半年度报告及其摘要的议案》 表决结果：同意 3 票，反对 0 票，弃权 0 票。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 监事会认为：公司 2025 年半年度募集资金存放与使用情况符合相关法律法 规的要求，对募集资金 ...

Core Viewpoint - The company, Bixing Wulian, announced the approval of several proposals, including the 2025 semi-annual report and its summary, during the 11th meeting of the second supervisory board [2] Group 1 - The company held its 11th meeting of the second supervisory board on August 26 [2] - The meeting resulted in the approval of the 2025 semi-annual report and its summary [2]

Core Viewpoint - The company reported a revenue of 111 million yuan for the first half of the year, reflecting an 11.16% year-on-year growth, driven by the growth in existing environmental monitoring instruments and digital public security business, despite facing challenges in high-margin product sales due to weakened demand in the environmental monitoring industry [2] Group 1: Financial Performance - The company incurred a loss of 23.91 million yuan in the first half of the year [2] - Research and development expenses reached 21.97 million yuan, marking a 22.38% increase year-on-year, with the revenue share rising to 19.74% [2] Group 2: Business Development - The company focused on key provinces and central special fund projects, successfully winning multiple provincial water station operation projects in Guangdong, Ningxia, Yunnan, Fujian, and Liaoning [3] - The company secured contracts for surface water construction in Honghu City and groundwater environmental monitoring in Fujian, and initiated groundwater pilot projects with Hainan's ecological monitoring center [3] - The company was awarded the online monitoring data service procurement project in Shenzhen, further demonstrating its technical advantages in the water resources sector [3] Group 3: Technological Advancements - The company has developed a "Three Intelligences Integration" system, transitioning from passive response to proactive prevention in ecological governance [3] - The company has completed the initial development of smart equipment systems, including intelligent water stations, sampling, and laboratories, in line with national strategies [3] Group 4: Operational Efficiency - The company is enhancing cost control and promoting quality improvement across various business segments to ensure steady development [4]

Core Points - Company reported a revenue of 111 million yuan for the first half of 2025, representing a year-on-year growth of 11.16% [1] - However, the company faced challenges in profitability, with a total profit of -29.68 million yuan, compared to -9.13 million yuan in the same period last year [1] - The net profit attributable to shareholders was -23.91 million yuan, worsening from -6.01 million yuan year-on-year [1] Revenue and Profitability - Revenue growth was primarily driven by the recognition of income from existing environmental monitoring instruments and digital public security business [1] - Sales of high-margin products faced pressure, and delays in customer project progress led to increased costs [1] - The increase in bad debt provisions for accounts receivable significantly impacted net profit [1] Cash Flow and Accounts Receivable - The net cash flow from operating activities was -47.51 million yuan, a decline from 129 million yuan in the same period last year [2] - A high proportion of accounts receivable aged over one year indicates significant capital occupation, which could affect operational cash flow if not managed properly [2] - The company also has a large inventory scale, which needs effective control to maintain reasonable turnover rates [2] Assets and Equity - As of June 30, 2025, the total assets of the company were 1.36 billion yuan, a decrease of 1.57% from the end of the previous year [2] - The net assets attributable to shareholders were 1.08 billion yuan, down 2.00% from the end of the previous year [2] Industry Outlook - The environmental monitoring industry is rapidly developing, and the company must maintain continuous technological innovation and market expansion to avoid declining competitiveness and market share [2]

智通财经APP讯，碧兴物联(688671.SH)披露2025年半年度报告，报告期公司实现营收1.11亿元，同比增 长11.16%;归母净利润亏损2391万元;扣非净利润亏损2920万元;基本每股收益-0.30元。 ...

（记者 王晓波） 2024年1至12月份，碧兴物联的营业收入构成为：仪器仪表制造业占比99.98%，其他业务占比0.02%。 截至发稿，碧兴物联市值为19亿元。 每经AI快讯，碧兴物联（SH 688671，收盘价：23.87元）8月26日晚间发布公告称，公司第二届第十二 次董事会会议于2025年8月25日在公司会议室以现场及通讯方式召开。会议审议了《关于公司2025年半 年度报告及其摘要的议案》等文件。 每经头条（nbdtoutiao）——能给主人"打电话"的宠物智能手机也来了！宠物产业3000亿元市场大爆 发，行业上市公司"涨"声一片 ...