Core Viewpoint - Zhongchuang Co., Ltd. (688695.SH) announced a reduction in shareholding by Beijing Huasoft and its concerted actor Wu Jinyang, indicating a significant change in ownership structure [1] Summary by Relevant Sections - **Shareholding Reduction** - From September 5, 2025, to September 22, 2025, Beijing Huasoft and Wu Jinyang reduced their holdings by 390,000 shares [1] - The total shares held decreased from 5.4 million to 5.01 million [1] - The ownership percentage dropped from 6.35% to 5.89% of the total share capital [1] - **Regulatory Impact** - The change in equity holding triggered a 1% threshold, indicating a notable shift in the company's shareholder dynamics [1]

| 19, 224, 2002 7000 11:11 1474 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | | 卖出营业部 | 是否为专场 | | 025-09-22 | 中创股份 | 688695 | 23.66 236.6 | 10 | 我慢慢慢 | 韻麗聲 | | KO | 9月22日，中创股份大宗交易成交10万股，成交额236.6万元，占当日总成交额的8.65%，成交价23.66 元，较市场收盘价29.6元折价20.07%。 ...

开源证券股份有限公司、民生证券股份有限公司 关于山东中创软件商用中间件股份有限公司 2025 年半年度持续督导跟踪报告 开源证券股份有限公司、民生证券股份有限公司（以下简称"保荐机构""保 荐人"）作为山东中创软件商用中间件股份有限公司（以下简称"中创股份""上 市公司""公司"）首次公开发行股票并在科创板上市的保荐机构，根据《证券发 行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》和《上海证 券交易所上市公司自律监管指引第 11 号——持续督导》等相关规定，负责中创 股份上市后的持续督导工作，并出具 2025 年半年度持续督导跟踪报告。 2025 年半年度，保荐机构对中创股份的持续督导情况工作总结如下： | 序号 | 工作内容 | 实施情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制 度，并针对具体的持续督导工作制定相 | 保荐机构已经建立健全并有效执行了持 | | | | 续督导制度，并制定了相应的工作计划 | | | 应的工作计划 | | | | 根据中国证监会相关规定，在持续督导 工作开始前，与上市公司或相关当事人 签署持续督导协议，明确双方在 ...

证券代码：688695 证券简称：中创股份 公告编号：2025-025 15:00-16:00 在"价值在线"（www.ir-online.cn）举办山东中创软件商用中间件股 份有限公司 2025 年半年度业绩说明会，与投资者进行沟通和交流，广泛听取投 资者的意见和建议。 山东中创软件商用中间件股份有限公司 关于召开2025年半年度业绩说明会的公告 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： 一、说明会类型 山东中创软件商用中间件股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日在上海证券交易所网站（www.sse.com.cn）披露了《山东中创软件商用 中间件股份有限公司 2025 年半年度报告》。为便于广大投资者更加全面深入地 了解公司经营业绩、发展战略等情况，公司定于 2025 年 9 月 10 日（星期三） 会议召开时间：2025 年 9 月 10 日（星期三）15:00-16:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 会议问 ...

Core Viewpoint - The company is experiencing operational highlights amidst strategic opportunities in the信创 industry and artificial intelligence, despite facing revenue and profit declines in the first half of 2025 [1][2]. Financial Performance - In the first half of 2025, the company reported revenue of 59.83 million yuan, a year-on-year decrease of 1.02%, indicating stability compared to the previous year [1]. - The net profit for the same period was -7.96 million yuan, reflecting a significant year-on-year decline of 501.52% [1]. - Research and development expenses reached 32.21 million yuan, a year-on-year increase of 23.42%, accounting for 53.83% of total revenue [1]. Business Strategy and Market Position - The company is actively expanding into emerging sectors such as information technology, telecommunications, healthcare, and education while maintaining its leading position in traditional sectors like government, military, energy, finance, and transportation [2]. - The company has successfully participated in a digital transformation project for a major state-owned enterprise in the energy sector, establishing a benchmark for domestic substitution [2]. - Collaborations with leading domestic firms like Huawei and Kirin are ongoing to enhance the software ecosystem and provide stable, efficient, and secure services [2]. Technological Advancements - The company has completed the deployment of private large models such as DeepSeek and Tongyi Qianwen, improving product development efficiency [2]. - The launch of the Zhongchuang Yuanqiong AI model management platform supports various framework integrations and visual operations, facilitating efficient data processing and model optimization [2]. Market Outlook - The overall software industry is currently undergoing an adjustment phase, with many A-share companies experiencing losses; however, the company has shown resilience in its performance [2]. - Future market competition is expected to focus on specific application scenarios, and the company is working on building differentiated technical capabilities to support further development and potential recovery in profitability [3].

Core Viewpoint - Zhongchuang Co., Ltd. (688695) reported a decline in revenue and a significant loss in net profit for the first half of 2025, indicating potential challenges in financial performance and cash flow management [1][2]. Financial Performance - The total revenue for the first half of 2025 was 59.8365 million yuan, a year-on-year decrease of 1.02% [1]. - The net profit attributable to shareholders was -7.9568 million yuan, reflecting a year-on-year decline of 501.52% [1]. - In Q2 2025, total revenue was 27.818 million yuan, down 12.86% year-on-year, with a net profit of -6.213 million yuan, a staggering decline of 2074.95% [1]. Profitability Metrics - The gross profit margin was 79.38%, down 7.98% year-on-year [1]. - The net profit margin was -13.3%, a decrease of 505.63% year-on-year [1]. - Total sales, management, and financial expenses amounted to 28.8357 million yuan, accounting for 48.19% of revenue, a decrease of 3.32% year-on-year [1]. Cash Flow and Asset Management - The company reported a negative operating cash flow of -0.32 yuan per share, although this represented a year-on-year increase of 30.69% [1]. - The accounts receivable were notably high, with accounts receivable to net profit ratio reaching 698.46% [1][2]. Historical Performance and Business Model - The company's Return on Invested Capital (ROIC) for the previous year was 6.09%, indicating average capital returns [2]. - The historical median ROIC since the company’s listing is 17.89%, suggesting better investment returns in the past [2]. - The business model relies heavily on research and marketing, necessitating a deeper analysis of these driving factors [2].

Group 1 - The board of directors of Shandong Zhongchuang Software Commercial Middleware Co., Ltd. held its 11th meeting of the 7th session on August 15, 2025, with all 5 directors present, ensuring compliance with relevant laws and regulations [1][2]. - The board approved the proposal regarding the company's 2025 semi-annual report and its summary, with a unanimous vote of 5 in favor and no opposition or abstentions [1][2]. - The board also approved the special report on the storage and actual use of raised funds for the first half of 2025, with the same voting results of 5 in favor [2].

Group 1 - The meeting of the seventh supervisory board of Shandong Zhongchuang Software Commercial Middleware Co., Ltd. was held on August 27, 2025, with all three supervisors present, confirming the legality and validity of the meeting [1][2] - The supervisory board approved the company's 2025 semi-annual report and its summary, stating that the report accurately reflects the company's operational performance and financial status, with no false records or misleading statements [1][2] - The supervisory board also approved the special report on the storage and actual use of raised funds for the first half of 2025, confirming compliance with relevant laws and regulations regarding the use and management of raised funds [2]

Core Viewpoint - The announcement details a change in equity ownership involving Shandong Zhongchuang Software Commercial Middleware Co., Ltd., specifically regarding the reduction of shares by a major shareholder, Shandong High-tech Venture Capital Co., Ltd. This change does not trigger a mandatory tender offer and will not affect the company's control structure or governance significantly [1][2]. Summary by Sections 1. Basic Information of the Shareholder - The shareholder involved is Shandong High-tech Venture Capital Co., Ltd., a limited liability company established on June 16, 2000, with a registered capital of RMB 117.572 million [1]. 2. Details of the Equity Change - The equity change occurred between August 6, 2025, and August 25, 2025, during which the shareholder reduced its holdings through centralized bidding and block trading [1]. - The total number of shares reduced was 892,293, representing a decrease of 1.05% of the total share capital [1]. 3. Shareholding Before and After the Change - Before the change, Shandong High-tech Venture Capital held 13,650,000 shares, accounting for 16.05% of the total share capital. After the reduction, it holds 12,757,707 shares, which is 15.00% of the total share capital [2].

Core Viewpoint - The report outlines the equity change of Shandong Zhongchuang Software Commercial Middleware Co., Ltd., indicating a reduction in shares held by Shandong Provincial High-tech Venture Capital Co., Ltd. through centralized bidding and block trading [1][2]. Group 1: Company Information - The company is listed on the Shanghai Stock Exchange under the stock code 688695 and is referred to as Zhongchuang Co. [1] - The information disclosure obligor is Shandong Provincial High-tech Venture Capital Co., Ltd., established on June 16, 2000, with a registered capital of RMB 117.572 million [3]. Group 2: Equity Change Details - As of the report date, the information disclosure obligor held 12,757,707 shares, accounting for 15.00% of the total share capital of Zhongchuang Co. [4] - The equity change involved a reduction of 100,000 shares through block trading on August 25, 2025, and a reduction of 792,293 shares through centralized bidding from August 6 to August 25, 2025 [5][6]. Group 3: Future Plans - The information disclosure obligor plans to reduce a total of up to 1,360,821 shares, which is not more than 1.00% of the total share capital, within three months following the announcement of the reduction plan [4][5]. - The reduction plan is in response to the obligor's funding needs and will be executed in accordance with the disclosed plan [4][5].