Core Viewpoint - The financial performance of Skyworth Digital (000810) for the first half of 2025 shows significant declines in revenue and net profit, indicating challenges in the smart terminal business and overall financial health [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 4.095 billion yuan, a decrease of 8.04% year-on-year [1]. - Net profit attributable to shareholders was 53.59 million yuan, down 70.53% compared to the previous year [1]. - The gross margin was 12.92%, a decline of 7.95% year-on-year, while the net margin fell to 1.19%, down 69.64% [1]. - The total of selling, administrative, and financial expenses was 263 million yuan, accounting for 6.43% of revenue, an increase of 5.47% year-on-year [1]. - Earnings per share decreased to 0.05 yuan, a drop of 70.56% year-on-year [1]. Balance Sheet Insights - Accounts receivable increased to 2.98 billion yuan, representing a 7.64% rise, with accounts receivable to net profit ratio reaching 1188.31% [1][6]. - Cash and cash equivalents decreased to 3.007 billion yuan, down 13.93% year-on-year [1]. - Interest-bearing debt rose to 1.107 billion yuan, an increase of 16.79% [1]. Operational Changes - Inventory levels increased by 36.04% due to strategic material preparation and customer stockpiling [3]. - Fixed assets increased by 14.08% due to the completion of the first phase of the Huizhou Skyworth Digital Industrial Park [3]. - Short-term borrowings rose by 29.9% due to increased foreign currency loans [3]. Cash Flow Analysis - Net cash flow from operating activities decreased by 160.09%, attributed to reduced revenue and slower sales collections [3]. - Net cash flow from investing activities increased by 53.84%, as there were no significant investments in structured deposits this period [3]. - Net cash flow from financing activities increased by 132.31%, driven by higher bank loan inflows [3]. Business Model Evaluation - The company's return on invested capital (ROIC) was 2.31%, indicating weak capital returns [5]. - The net profit margin was 2.71%, suggesting low added value in products or services [5]. - Historical data shows a median ROIC of 6.97% over the past decade, with a notable low of 1.94% in 2017 [5].

Financial Performance - The company's total revenue for the first half of 2025 was 4.095 billion yuan, a decrease of 8.04% year-on-year [1] - The net profit attributable to shareholders was 53.59 million yuan, down 70.53% year-on-year [1] - The gross margin was 12.92%, a decline of 7.95% compared to the previous year [1] - The net profit margin was 1.19%, a significant drop of 69.64% year-on-year [1] - The total of selling, administrative, and financial expenses was 263 million yuan, accounting for 6.43% of revenue, an increase of 5.47% year-on-year [1] - Earnings per share decreased to 0.05 yuan, down 70.56% year-on-year [1] Accounts Receivable and Cash Flow - Accounts receivable reached 2.98 billion yuan, representing a 7.64% increase year-on-year, with accounts receivable to net profit ratio at 1188.31% [1][2] - Operating cash flow per share was -0.17 yuan, a decrease of 160.55% year-on-year [1] - The net increase in cash and cash equivalents was down 77.83%, attributed to reduced operating cash flow [3] Operational Changes - Inventory increased by 36.04% due to strategic material preparation and early stocking by customers [1] - Fixed assets rose by 14.08% due to the completion of the first phase of the Huizhou Skyworth Digital Industrial Park [1] - Short-term borrowings increased by 29.9% due to an increase in foreign currency loans [1] Investment and Returns - The company's return on invested capital (ROIC) was 2.31%, indicating weak capital returns [3] - The historical median ROIC over the past decade was 6.97%, suggesting generally poor investment returns [3] - The company has had one loss year since its IPO, indicating a need for careful analysis of underlying factors [3] Business Model and Strategy - The company's performance relies heavily on research and development as well as marketing efforts [3] - A detailed examination of the drivers behind these efforts is necessary to understand their effectiveness [3]

Group 1 - The core viewpoint of the article is that Skyworth Digital (000810.SZ) has reported an increase in institutional ownership in its half-year report for 2025, indicating growing confidence among institutional investors [1] - As of August 22, 2025, five institutional investors hold a total of 639 million shares, accounting for 55.97% of Skyworth Digital's total share capital, which reflects an increase of 0.98 percentage points compared to the previous quarter [1] - The newly disclosed public fund during this period is the Southern CSI 1000 ETF, indicating a slight increase in public fund interest [1] Group 2 - Foreign investment sentiment shows a slight increase, with one foreign fund, Hong Kong Central Clearing Limited, increasing its holdings by 0.11% compared to the previous period [1]

Core Insights - The company reported a significant decline in its main revenue and net profit for the first half of 2025, with main revenue at 4.095 billion yuan, down 8.04% year-on-year, and net profit attributable to shareholders at 53.59 million yuan, down 70.53% year-on-year [1][4] Financial Performance - The company's main revenue for Q2 2025 was 2.296 billion yuan, showing a year-on-year increase of 5.85 [1] - The net profit attributable to shareholders for Q2 2025 was 48.26 million yuan, a decrease of 36.18% year-on-year [1][4] - The non-recurring net profit for Q2 2025 was 45.44 million yuan, down 22.13% year-on-year [1][4] - The overall debt ratio stood at 43.5%, with investment income reported at -146.89 million yuan and financial expenses at -449.37 million yuan [1] Profitability Metrics - The gross profit margin for the company was 12.92%, reflecting a year-on-year decrease of 7.94% [6] - The return on equity was 0.84%, down 70.21% year-on-year [6] - Earnings per share were reported at 0.05 yuan, a decline of 70.55% year-on-year [6] Shareholder Information - The largest shareholder is Shenzhen Skyworth-RGB Electronics Co., Ltd., holding 52.64% of shares [10] - Other notable shareholders include Suining Xingye Investment Group Co., Ltd. and Xie Xiongqing, holding 1.97% and 1.93% respectively [10]

Core Viewpoint - Skyworth Digital (000810.SZ) reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first half of 2025 was 4.095 billion yuan, a year-on-year decrease of 8.04% [1] - The net profit attributable to shareholders of the listed company was 53.5907 million yuan, representing a significant year-on-year decline of 70.53% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 47.5409 million yuan, down 69.51% year-on-year [1] - Basic earnings per share were reported at 0.0469 yuan [1]

创维数字股份有限公司 2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 控股股东、实际控制人 及其附属企业 | 其他关联资金往来 | 资金往来方名称 | 往来方与上市公司的关联关系 | 上市公司核算的会计 | 2025年期初占用资金余 | 2025年半年度占用累计 | 2025年半年度占用资金 | 2025年半年度偿还累计 | 2025年06月30日期末占 | 往来形成原因 | 往来性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 科目 | 额 | 发生金额（不含利息） | 的利息（如有） | 发生金额 | 用资金余额 | | | | | 深圳创维光伏科技有限公司 | 控股股东、实际控制人直接控制的其他附属企业 | 预付款项 | 95.01 | - | - | 43.76 | | 51.25 预付材料款 | 经营性往来 | | | 深圳创维光伏科技有限公司 | 控股股东、实际控制人直接控制的其他附属企业 | 其他应收款 | 1,545.76 | - | - | 36.00 | | 1,5 ...

证券代码：000810 证券简称：创维数字 公告编号：2025-034 创维数字股份有限公司 关于 2025 年半年度计提信用减值及 资产减值准备的公告 单位：万元 | 应收账款坏账准备 | 35,325.03 | 1,086.32 | 523.31 | 432.52 | 15.83 | 35,471.35 | | --- | --- | --- | --- | --- | --- | --- | | 其他应收款坏账准备 | 315.60 | 48.11 | 184.52 | 0.00 | 0.88 | 180.07 | | 长期应收款坏账准备 | 19.81 | 10.80 | 30.96 | 1.68 | 2.03 | 0.00 | | 合计 | 48,499.25 | 4,147.98 | 743.02 | 2,123.76 | 59.62 | 49,840.07 | （二）本次计提资产减值准备的确认标准及计提方法 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 创维数字股份有限公司（以下简称"公司"）根据《企业会计准则》及公司会 计政策等相关规定，基于 ...

创维数字股份有限公司 关于 2025 年半年度募集资金存放与使用情况的专项报告 根据《上市公司募集资金监管规则》及《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》，公司董事会对创维数字股份有限公司（以下简称"公司"） 2025 年半年度募集资金存放与使用情况报告如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 （二）募集资金使用及结余情况 截至 2025 年 6 月 30 日，募集资金专户累计取得银行利息及支出银行手续费净额 16,521.97 万元，累计投入募集资金项目 91,738.49 万元（含以募集资金置换预先投入募投项 目 8,148.99 万元），赎回"创维转债"使用资金 460.69 万元，在募集资金账户中用于现金管 理的资金余额为 27,000.00 万元，募集资金专户活期存款余额为 451.43 万元。 二、募集资金存放和管理情况 为规范募集资金管理，提高募集资金的使用效率，切实保证募集资金安全，公司根据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司募集资金监管规则》《深圳证券 交易所上市公司自律监管指引第 1 号——主板上市公司规范运 ...

创维数字股份有限公司 2025 年半年度财务报告 创维数字股份有限公司 2025 年半年度财务报告 （未经审计） 2025 年 08 月 1 创维数字股份有限公司 2025 年半年度财务报告 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：创维数字股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 3,007,234,894.37 | 3,322,249,094.51 | | 结算备付金 | 0.00 | 0.00 | | 拆出资金 | 0.00 | 0.00 | | 交易性金融资产 | 0.00 | 0.00 | | 衍生金融资产 | 0.00 | 0.00 | | 应收票据 | 195,630,681.96 | 327,825,278.24 | | 应收账款 | 2,980,247,265.00 | 2,637,689,257.44 | | 应收款项融资 | 0. ...

关于对创维集团财务有限公司 的风险持续评估报告 根据《企业集团财务公司管理办法》、深圳证券交易所相关规定，创维数 字股份有限公司（以下简称"公司"）审阅了创维集团财务有限公司（以下简称 "创维财务公司"）2025 年半年度未经审计的财务报表及相关数据指标，并对 创维财务公司进行了相关的风险评估；同时对创维财务公司的《金融许可证》《企 业法人营业执照》等的合法有效性进行了查验，出具本风险持续评估报告。 一、创维财务公司的基本情况 1.创维财务公司是经原中国银行业监督管理委员会[2013]第 446 号文件批准 成立的非银行金融机构，于 2013 年 9 月 5 日取得营业执照及《中华人民共和国 金融许可证》。 2.注册地址：深圳市前海深港合作区前湾一路鲤鱼门街一号前海深港合作区 管理局综合办公楼 A 栋 201 室（入驻深圳市前海商务秘书有限公司）；经营场 所：广东省深圳市南山区高新南四道创维半导体设计大厦东座 21 楼。 3.金融许可证机构编码：L0177H244030001 4.统一社会信用代码：9144030007804891X5 5.法定代表人：顾铿 6.注册资本：122,345 万元人民币，股东构成： ...