证券代码：000948 证券简称：南天信息 公告编号：2025-038 云南南天电子信息产业股份有限公司 第九届董事会第二十二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 （一）会议通知时间及方式：会议通知已于 2025 年 8 月 8 日以 邮件方式送达。 （二）会议时间、地点和方式：本次会议于 2025 年 8 月 18 日以 现场+视频方式召开，现场会议地点为昆明本公司三楼会议室。 （三）会议应到董事九名，实到董事九名。 （四）会议由公司董事长徐宏灿先生主持，公司监事及高级管理 人员列席会议。 （五）会议的召开符合有关法律、行政法规、部门规章、规范性 文件和《公司章程》的规定。 二、 董事会会议审议情况 （一）审议《南天信息 2025 年半年度报告》全文及摘要； 表决情况：九票同意、零票反对、零票弃权。 （二）审议《关于修订<公司章程>的议案》； 公司根据《公司法》《中国证监会关于新<公司法>配套制度规则 实施相关过渡期安排》《上市公司章程指引》《深圳证券交易所股票上 市规则》等相关法律法规、规范性文件的规定，公 ...

南天信息公告，公司原计划向特定对象发行A股股票，募集资金总额不超过6.5亿元。由于市场环境及公 司实际情况，公司决定终止该计划。此举不会对公司日常经营产生重大不利影响。 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, the report's structure, and definitions of key terms for clarity [Important Notice](index=2&type=section&id=Important%20Notice) The company's board guarantees the report's accuracy, warns about forward-looking statements, and outlines key risks and dividend policy - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content [3](index=3&type=chunk) - Future plans and performance forecasts in the report do not constitute substantial commitments, and investors should be aware of investment risks [4](index=4&type=chunk) - The company faces risks from industry policies, market competition, talent loss, technology, and the economic environment [4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period [5](index=5&type=chunk) [Directory of Reference Documents](index=4&type=section&id=Directory%20of%20Reference%20Documents) This section lists financial statements signed by responsible personnel and all publicly disclosed company documents, stored at the Board Office - Reference documents include signed and sealed financial statements and all publicly disclosed company documents and announcements [10](index=10&type=chunk) - Documents are stored at the company's Board of Directors Office [11](index=11&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines common terms used in the report, including company names, regulatory bodies, major subsidiaries, and relevant laws - This section defines key terms used in the report, such as "Company," "CSRC," and "SZSE" [13](index=13&type=chunk) - Major related parties and subsidiaries like "Gongtou Group," "Gongtou Digital Tech," and "Guangzhou Nantian" are clearly defined [13](index=13&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information, contact details, and a summary of its key financial performance and position [Company Profile](index=6&type=section&id=Company%20Profile) Yunnan Nantian Electronics Information Industry Co., Ltd. (Stock Abbreviation: Nantian Information, Stock Code: 000948) is listed on the Shenzhen Stock Exchange, with Xu Hongcan as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Nantian Information | | Stock Code | 000948 | | Listed Exchange | Shenzhen Stock Exchange | | Chinese Name | 云南南天电子信息产业股份有限公司 | | Legal Representative | Xu Hongcan | [Contact Persons and Contact Information](index=6&type=section&id=Contact%20Persons%20and%20Contact%20Information) This section discloses contact details for the Board Secretary and Securities Affairs Representatives for investor communication Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Zhao Qigao | No. 455 Huancheng East Road, Kunming | (0871)63366327 | (0871)63317397 | 000948@nantian.com.cn | | Securities Affairs Representative | Shen Shuo, Yin Baojian | No. 455 Huancheng East Road, Kunming | (0871)63366327、68279182 | (0871)63317397 | shensh@nantian.com.cn、yinbaojian@nantian.com.cn | [Other Information](index=6&type=section&id=Other%20Information) This section confirms no changes in the company's registered address, office address, website, email, or information disclosure locations during the reporting period - Company contact information remained unchanged during the reporting period, refer to the 2024 Annual Report [17](index=17&type=chunk) - Information disclosure and storage locations remained unchanged during the reporting period, refer to the 2024 Annual Report [18](index=18&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's operating revenue increased by **16.75%** year-on-year, but net profit attributable to shareholders and non-recurring net profit both significantly declined, with operating cash flow remaining negative Key Accounting Data and Financial Indicators (Year-on-Year) | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,579,927,243.09 | 3,922,702,181.58 | 16.75% | | Net Profit Attributable to Shareholders of Listed Company | -5,002,840.27 | 25,363,666.52 | -119.72% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | -7,968,200.53 | 23,401,049.25 | -134.05% | | Net Cash Flow from Operating Activities | -2,038,474,919.47 | -1,677,458,573.30 | -21.52% | | Basic Earnings Per Share | -0.0127 | 0.0656 | -119.36% | | Diluted Earnings Per Share | -0.0127 | 0.0644 | -119.72% | | Weighted Average Return on Net Assets | -0.18% | 0.96% | -1.14% | Key Accounting Data and Financial Indicators (Period-End Comparison) | Indicator | Current Period End (yuan) | Prior Year End (yuan) | Period-End Change | | :--- | :--- | :--- | :--- | | Total Assets | 8,747,735,200.74 | 10,159,851,622.69 | -13.90% | | Net Assets Attributable to Shareholders of Listed Company | 2,690,277,812.74 | 2,702,153,412.77 | -0.44% | [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&type=section&id=Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company reports no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards - No differences in net profit and net assets between international accounting standards and Chinese accounting standards during the reporting period [21](index=21&type=chunk) - No differences in net profit and net assets between overseas accounting standards and Chinese accounting standards during the reporting period [22](index=22&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Total non-recurring gains and losses amounted to **2.96536026 million yuan**, primarily from government subsidies and reversal of impairment provisions for receivables Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | -8,428.31 | | Government grants recognized in current profit or loss | 2,539,564.08 | | Reversal of impairment provisions for receivables subject to separate impairment testing | 816,929.80 | | Other non-operating income and expenses apart from the above | 58,958.58 | | Less: Income tax impact | 146,834.83 | | Less: Impact on minority interests (after tax) | 294,829.06 | | Total | 2,965,360.26 | - The company has no other profit and loss items that meet the definition of non-recurring gains and losses [24](index=24&type=chunk) - The company has not reclassified non-recurring gains and losses items as recurring gains and losses [25](index=25&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) This section discusses the company's main business operations, core competencies, financial performance, investment activities, and risks, along with management's strategies [Main Businesses Engaged by the Company During the Reporting Period](index=9&type=section&id=Main%20Businesses%20Engaged%20by%20the%20Company%20During%20the%20Reporting%20Period) Nantian Information, a leading financial technology and digital solution provider, focuses on financial technology and digital services, expanding into non-financial sectors and increasing R&D in AI and trusted computing - The company is a leading financial technology digital comprehensive solution and service provider, with "financial technology" and "digital services" as its business main line [27](index=27&type=chunk)[33](index=33&type=chunk) - The company's main businesses include software development and services, intelligent channel solutions, integrated solutions, and IT product sales and industrial internet [33](index=33&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) - During the reporting period, the company achieved operating revenue of **4.58 billion yuan**, a **16.75% year-on-year increase**, but net profit attributable to the parent company was a **loss of 5.0028 million yuan**, mainly due to intensified market competition and declining gross profit margin [42](index=42&type=chunk) - The company continuously increased R&D innovation efforts, especially in the AI large model field, launching multiple products and solutions to promote the implementation of "AI+Finance" applications [43](index=43&type=chunk) [Industry Development Policies and Trends](index=9&type=section&id=(I)%20Industry%20Development%20Policies%20and%20Trends) National policies like the "Financial Technology Development Plan" and "Digital China Construction" provide a favorable environment and market for the company's software and information technology services - The "Financial Technology Development Plan (2022-2025)" emphasizes high-quality promotion of financial digital transformation and a sound modern financial system adapted to the digital economy [27](index=27&type=chunk) - The "Action Plan for Promoting High-Quality Development of Digital Finance" aims to basically establish a financial system highly adapted to digital economic development by the end of 2027 [28](index=28&type=chunk) - The "Guiding Opinions of the General Office of the State Council on Doing a Good Job in the 'Five Major Articles' of Finance" proposes significant achievements in the development of the "Five Major Articles" of finance by 2027 [28](index=28&type=chunk) - The "Key Work Points for Digital Economy Development in 2025" and "Action Plan for Digital China Construction in 2025" deploy key tasks such as enhancing digital economy core competitiveness and promoting deep integration of the real economy and digital economy [29](index=29&type=chunk)[30](index=30&type=chunk) - The "Several Policy Measures to Accelerate the Construction of a Technology Finance System to Strongly Support High-Level Scientific and Technological Self-Reliance and Self-Improvement" aims to provide full life-cycle and full-chain financial services for scientific and technological innovation [31](index=31&type=chunk) - In the first half of 2025, China's software and information technology service industry showed good operating momentum, with software business revenue reaching **7.0585 trillion yuan**, a **11.9% year-on-year increase** [32](index=32&type=chunk) - IDC predicts that China's banking IT investment scale will reach **169.315 billion yuan** in 2024 and is expected to reach **266.227 billion yuan** in 2028, indicating strong demand for digital transformation in financial institutions [32](index=32&type=chunk) [Company's Main Businesses, Products, and Uses](index=10&type=section&id=(II)%20Company%27s%20Main%20Businesses%2C%20Products%2C%20and%20Uses) The company offers a comprehensive digital service system for the financial industry, including software development, intelligent channel solutions, integrated solutions, and IT product sales, expanding into non-financial sectors - The company takes "financial technology" and "digital services" as its business main line, providing a layered and phased digital service system [33](index=33&type=chunk) - Software development and services business provides digital services to financial institutions, covering core, channel, management, and data fields, and actively expands into non-bank financial and non-financial markets [33](index=33&type=chunk)[35](index=35&type=chunk) - Intelligent channel solutions provide smart and channel-oriented solutions for the financial industry, including self-service terminals, channel management, and integrated software and hardware products, also expanding to non-financial industries like pharmacies, education, and judiciary [33](index=33&type=chunk)[36](index=36&type=chunk) - Integrated solutions focus on data centers, providing overall solutions for cloud construction, business migration to cloud, and operation management, serving customers in finance, government, transportation, and power [33](index=33&type=chunk)[36](index=36&type=chunk) - IT product sales and industrial internet business sells intelligent terminals, servers, and other products, aggregating manufacturers and partners, with future plans to empower channel enterprises [37](index=37&type=chunk)[38](index=38&type=chunk) - Innovation business focuses on emerging technologies such as cloud computing, big data, blockchain, artificial intelligence, and digital RMB, forming diverse innovation capabilities with "platform + scenario + solution," and prioritizing the development of industry application trusted computing business [39](index=39&type=chunk) [Nantian Information's Industry Position](index=11&type=section&id=(III)%20Nantian%20Information%27s%20Industry%20Position) Nantian Information is a leading financial industry digital solution provider in China, recognized by IDC, with extensive experience, a broad customer base, and national service network - The company is one of the leading financial industry digital comprehensive solution and service providers in China, deeply engaged in industry informatization and digitalization for nearly **40 years** [40](index=40&type=chunk) - The company has a strong customer base, covering all policy banks, six major banks, most joint-stock banks, and numerous rural credit cooperatives, city commercial banks, rural commercial banks, and large insurance companies [40](index=40&type=chunk) - The company has been selected for **5 consecutive years** in the IDC Global FinTech Top 100 (Top 50) and for **6 consecutive years** in the IDC China Banking IT Solutions Report, ranking fourth in China's banking IT solutions market [41](index=41&type=chunk) - The company obtained the first batch of "Information System Construction and Service Capability CS5 (Outstanding Level)" enterprise qualification nationwide and passed the highest level (LS4) assessment for localized information system integration and service capability [41](index=41&type=chunk) [Key Work Progress During the Reporting Period](index=11&type=section&id=(IV)%20Key%20Work%20Progress%20During%20the%20Reporting%20Period) In H1 2025, the company focused on financial technology, expanded into non-financial markets, invested **203 million yuan** in R&D for AI models, and advanced trusted computing and state-owned enterprise reforms - In the first half of 2025, the company achieved operating revenue of **4.58 billion yuan**, a **16.75% year-on-year increase**; net profit attributable to the parent company was a **loss of 5.0028 million yuan**, mainly affected by intensified market competition and declining gross profit margin [42](index=42&type=chunk) - The company continuously consolidated its financial technology business, deeply cultivated strategic clients such as banks, and continued to exert efforts in banking solutions, financial technology resource services, financial trusted computing ecosystem, and AI applications [42](index=42&type=chunk) - Actively expanded non-financial businesses, providing products and solutions for smart energy, smart healthcare, smart education, and smart transportation [43](index=43&type=chunk) - Deeply cultivated R&D innovation, with R&D investment of **203 million yuan** in the first half of 2025, launching a full-chain AI large model platform, AI Agent assistant platform, and other artificial intelligence products [43](index=43&type=chunk) - Collaborated to build an industrial ecosystem, deeply implemented the national trusted computing strategy, accelerated product and solution certification and adaptation, and deepened cooperation with leading manufacturers such as Huawei and H3C [44](index=44&type=chunk) - Continuously promoted deepening reforms, fully advancing various tasks of the "Three-Year Action Plan for State-Owned Enterprise Reform and Development" and "Science and Technology Reform Demonstration Action," and optimizing capital structure [44](index=44&type=chunk) - Continuously strengthened management support, revised and improved the "Articles of Association" and other systems, and enhanced lean operations and refined management capabilities [45](index=45&type=chunk) [Core Competitiveness Analysis](index=13&type=section&id=Core%20Competitiveness%20Analysis) Nantian Information's core competitiveness stems from its nearly four decades of industry experience, extensive technology accumulation, broad customer base, continuous R&D, leading financial industry position, stable talent, regional advantages, and comprehensive service network - The company has been deeply engaged in industry informatization and digitalization for nearly **40 years**, cumulatively launching **1000+** software and hardware products and solutions, implementing **60000+** information system projects, and serving **10000+** customers [49](index=49&type=chunk) - Comprehensive advantages: Based on its own core technologies and key applications, combined with the latest technologies such as cloud computing, big data, and artificial intelligence, the company provides comprehensive digital services [50](index=50&type=chunk) - Technological advantages: National recognized enterprise technology center, obtained CS5, LS4, ITSS operation and maintenance service capability maturity level 1 and other qualifications, maintaining industry technological leadership [50](index=50&type=chunk)[51](index=51&type=chunk) - Financial industry position advantage: Continuously ranked among the top 50 in IDC Global FinTech Top 100 for many years, and fourth in China's banking IT solutions market [52](index=52&type=chunk) - Talent advantage: Possesses a large number of stable, experienced, and composite talents, and ensures the stability of its talent team through a sound performance appraisal and incentive mechanism and talent development plans [53](index=53&type=chunk) - Regional advantage: The only main board IT listed company in Yunnan Province, actively seizing opportunities for digital economic development in Yunnan Province, backed by a state-owned controlling shareholder [54](index=54&type=chunk) - Comprehensive business and service network advantage: Possesses a nationwide sales and service system covering over **120 locations**, supporting multi-business national expansion [54](index=54&type=chunk) - Industrial penetration advantage: Relying on its leading position in the financial industry, the company continuously expands into industry digitalization, trusted computing, and "Digital Yunnan" businesses, expanding into energy, power, transportation, and other fields [55](index=55&type=chunk) [Main Business Analysis](index=14&type=section&id=Main%20Business%20Analysis) The company's main business revenue grew by **16.75%** to **4.58 billion yuan**, but cost growth outpaced revenue, leading to a decline in gross profit margin, with IT product sales significantly increasing Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 4,579,927,243.09 | 3,922,702,181.58 | 16.75% | | | Operating Cost | 4,147,767,737.68 | 3,462,199,988.19 | 19.80% | | | Financial Expenses | 16,021,398.51 | 10,729,353.99 | 49.32% | Decrease in cash management income | | Income Tax Expenses | -8,014,800.04 | -2,330,676.53 | -243.88% | Increase in income tax refunds year-on-year | | Net Cash Flow from Investing Activities | -126,060,294.47 | 45,451,524.75 | -377.35% | Purchase of structured deposits | | Net Cash Flow from Financing Activities | 528,105,640.08 | 319,610,694.42 | 65.23% | Expansion of market scale, increased demand for funds | Operating Revenue Composition (by Product) | Product | Current Reporting Period Amount (yuan) | Proportion of Operating Revenue | Prior Year Period Amount (yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Software Development and Services | 899,192,000.88 | 19.63% | 880,711,860.15 | 22.45% | 2.10% | | Intelligent Channel Solutions | 46,510,731.41 | 1.02% | 47,565,642.87 | 1.21% | -2.22% | | Integrated Solutions | 1,438,358,433.04 | 31.41% | 1,703,706,672.55 | 43.43% | -15.57% | | IT Product Sales and Industrial Internet | 2,179,464,017.70 | 47.58% | 1,276,138,716.13 | 32.54% | 70.79% | Operating Revenue Composition (by Region) | Region | Current Reporting Period Amount (yuan) | Proportion of Operating Revenue | Prior Year Period Amount (yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | North China | 2,261,104,831.38 | 49.36% | 2,074,788,354.48 | 52.89% | 8.98% | | East China | 894,594,682.78 | 19.53% | 782,595,879.37 | 19.95% | 14.31% | | South China | 640,214,040.54 | 13.98% | 419,527,659.75 | 10.69% | 52.60% | | Central China | 284,647,598.85 | 6.22% | 154,120,750.39 | 3.93% | 84.69% | | Northwest China | 63,958,941.55 | 1.40% | 31,623,439.15 | 0.81% | 102.25% | | Southwest China | 435,407,147.99 | 9.51% | 460,046,098.44 | 11.73% | -5.36% | Main Business Cost Composition | Cost Component | Current Reporting Period Amount (yuan) | Proportion of Operating Cost | Prior Year Period Amount (yuan) | Proportion of Operating Cost | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Labor Cost | 322,810,981.19 | 7.78% | 321,869,960.74 | 9.30% | 0.29% | | Project Implementation Cost | 3,818,361,419.27 | 92.06% | 3,135,844,408.15 | 90.57% | 21.77% | [Non-Main Business Analysis](index=16&type=section&id=Non-Main%20Business%20Analysis) Non-main business activities negatively impacted total profit, primarily due to **28.5823877 million yuan** in credit impairment losses and a **3.38391304 million yuan** negative investment income Impact of Non-Main Business on Total Profit | Item | Amount (yuan) | Proportion of Total Profit | Explanation of Cause | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | -3,383,913.04 | 25.80% | Investment income recognized under equity method | Yes | | Asset Impairment | -1,873,394.02 | 14.28% | Provision for impairment of contract assets | No | | Credit Impairment | -28,582,387.70 | 217.88% | Provision for bad debts on receivables | No | | Other Income | 7,268,266.44 | -55.41% | Government grants | Yes | [Asset and Liability Status Analysis](index=17&type=section&id=Asset%20and%20Liability%20Status%20Analysis) Total assets decreased by **13.90%**, and net assets attributable to shareholders decreased by **0.44%**. Monetary funds significantly reduced, while accounts receivable and inventory increased, and short-term borrowings rose Significant Changes in Asset Composition | Item | Current Period End Amount (yuan) | Proportion of Total Assets | Prior Year End Amount (yuan) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 1,155,275,495.51 | 13.21% | 2,914,290,109.65 | 28.68% | -15.47% | | Accounts Receivable | 2,130,330,109.29 | 24.35% | 1,899,644,534.52 | 18.70% | 5.65% | | Inventory | 3,519,969,055.64 | 40.24% | 3,533,651,705.05 | 34.78% | 5.46% | | Long-Term Equity Investments | 203,599,916.76 | 2.33% | 150,649,549.87 | 1.48% | 0.85% | | Short-Term Borrowings | 1,311,099,286.30 | 14.99% | 573,687,561.40 | 5.65% | 9.34% | | Contract Liabilities | 1,427,381,599.78 | 16.32% | 1,941,211,346.39 | 19.11% | -2.79% | | Long-Term Borrowings | 40,500,000.00 | 0.46% | 225,000,000.00 | 2.21% | -1.75% | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | | Other Non-Current Financial Assets | 157,849,214.39 | 157,849,214.39 | | Receivables Financing | 16,784,319.57 | 5,761,875.76 | | Total | 174,633,533.96 | 163,611,090.15 | Restricted Asset Status | Item | Period-End Book Balance (yuan) | Type of Restriction | Restriction Details | | :--- | :--- | :--- | :--- | | Monetary Funds | 301,074,788.70 | Bank acceptance bill deposits, letter of guarantee deposits, frozen funds, etc. | Not freely withdrawable | [Investment Status Analysis](index=18&type=section&id=Investment%20Status%20Analysis) The company did not engage in significant equity investments, non-equity investments, securities investments, derivative investments, or use of raised funds during the reporting period - The company had no securities investments during the reporting period [71](index=71&type=chunk) - The company had no derivative investments during the reporting period [72](index=72&type=chunk) - The company had no use of raised funds during the reporting period [73](index=73&type=chunk) [Significant Asset and Equity Sales](index=18&type=section&id=Significant%20Asset%20and%20Equity%20Sales) No significant asset or equity sales occurred during the reporting period, indicating stable asset structure - The company did not sell significant assets during the reporting period [74](index=74&type=chunk) - The company did not sell significant equity during the reporting period [75](index=75&type=chunk) [Analysis of Major Holding and Participating Companies](index=19&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Major subsidiaries include Beijing Nantian Software Co., Ltd., Beijing Starlink Nantian Technology Co., Ltd., Shanghai Nantian Computer System Co., Ltd., and Guangzhou Nantian Computer System Co., Ltd., with Beijing Nantian Software being profitable while others incurred losses Major Subsidiary Financial Status | Company Name | Company Type | Main Business | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Beijing Nantian Software Co., Ltd. | Subsidiary | Software, integration, services, etc. | 200,000,000.00 | 827,321,519.69 | 494,633,415.85 | 523,563,879.68 | 23,989,388.61 | 30,052,179.95 | | Beijing Starlink Nantian Technology Co., Ltd. | Subsidiary | IT product sales and industrial internet business | 20,000,000.00 | 2,211,734,785.58 | -44,922,083.15 | 2,179,726,567.10 | -2,706,507.90 | -3,381,822.78 | | Shanghai Nantian Computer System Co., Ltd. | Subsidiary | Software, integration, products, services, etc. | 102,094,284.50 | 243,018,860.42 | 162,392,728.91 | 165,487,013.08 | -5,670,151.63 | -5,676,150.64 | | Guangzhou Nantian Computer System Co., Ltd. | Subsidiary | Software, integration, products, services, etc. | 100,230,000.00 | 309,635,572.33 | 117,489,142.72 | 132,092,639.33 | -5,736,947.76 | -5,718,360.79 | [Structured Entities Controlled by the Company](index=19&type=section&id=Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period, indicating a traditional business structure - The company had no structured entities under its control during the reporting period [79](index=79&type=chunk) [Risks Faced by the Company and Countermeasures](index=19&type=section&id=Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from policy changes, market competition, talent loss, technological updates, and economic environment, addressed by policy monitoring, innovation, marketing, talent incentives, R&D, and risk control - Industry policy risks: Adjustments in software industry policies may lead to decreased demand, and financial system reforms may change financial institutions' demands [75](index=75&type=chunk) - Market competition risks: Intensified competition in the financial informatization sector, entry of internet companies, and emergence of new technologies and models [77](index=77&type=chunk) - Talent loss risks: Fierce competition for information technology talent, rising labor costs, loss of core technical personnel, or insufficient human resource supply [80](index=80&type=chunk) - Technology risks: Rapid advancements in emerging technologies such as cloud computing, big data, and artificial intelligence require the company to maintain technological updates and new product R&D speed [81](index=81&type=chunk) - Economic environment risks: Complex and volatile international economic environment, including exchange rate fluctuations, trade frictions, and supply chain uncertainties, affecting company operations [82](index=82&type=chunk) - Countermeasures: Timely grasp of policies, continuous innovation, strengthened market marketing, improved talent incentive mechanisms, increased R&D investment, and enhanced risk control capabilities [76](index=76&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=20&type=section&id=Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has not formulated a market value management system or disclosed a valuation enhancement plan during the reporting period - The company has not formulated a market value management system during the reporting period [83](index=83&type=chunk) - The company has not disclosed a valuation enhancement plan during the reporting period [83](index=83&type=chunk) [Implementation of "Quality and Return Dual Enhancement" Action Plan](index=20&type=section&id=Implementation%20of%20%E2%80%9CQuality%20and%20Return%20Dual%20Enhancement%E2%80%9D%20Action%20Plan) The company has not disclosed an action plan for "Quality and Return Dual Enhancement" during the reporting period - The company has not disclosed an action plan for "Quality and Return Dual Enhancement" during the reporting period [83](index=83&type=chunk) [Corporate Governance, Environment, and Society](index=21&type=section&id=Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details changes in the board and management, profit distribution policy, equity incentive plans, environmental disclosures, and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=21&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Director and CFO Yan Chunguang resigned due to job transfer, and Zheng Yongyong was elected as a director and appointed as CFO Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Yan Chunguang | Director, CFO | Resignation | March 17, 2025 | Job transfer | | Zheng Yongyong | Director | Elected | April 07, 2025 | Job transfer | | Zheng Yongyong | CFO | Appointed | March 18, 2025 | Job transfer | [Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=21&type=section&id=Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital reserve conversions for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period [86](index=86&type=chunk) [Implementation of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=21&type=section&id=Implementation%20of%20Company%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company completed the second unlocking period of its 2021 restricted stock incentive plan, repurchased and cancelled some shares due to departures or performance, and is processing the third unlocking period's cancellation - In January 2025, the conditions for the second unlocking period of the company's 2021 restricted stock incentive plan were met, and **3,703,853 restricted shares** for **285 incentive recipients** were listed for circulation on February 5, 2025 [93](index=93&type=chunk)[94](index=94&type=chunk) - Due to personal performance appraisals and position changes of **10 incentive recipients**, the company repurchased and cancelled **127,162 restricted shares**, changing the total share capital to **393,617,825 shares** [95](index=95&type=chunk) - In April 2025, the company approved the proposal that the conditions for the third unlocking period of the 2021 restricted stock incentive plan were not met, and to repurchase and cancel a portion of restricted shares [95](index=95&type=chunk) - The company did not implement employee stock ownership plans or other employee incentive measures during the reporting period [97](index=97&type=chunk) [Environmental Information Disclosure](index=23&type=section&id=Environmental%20Information%20Disclosure) The company and its major subsidiaries are not listed as enterprises required to disclose environmental information - The listed company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law [97](index=97&type=chunk) [Social Responsibility](index=23&type=section&id=Social%20Responsibility) The company prioritizes social responsibility, adhering to its mission of "digitalization promoting China's progress," ensuring integrity, compliance, and protecting stakeholder interests - The company takes "digitalization promoting China's progress" as its corporate mission and actively fulfills its social responsibilities [97](index=97&type=chunk) - The company complies with laws and regulations, social ethics, and business ethics, adhering to honest operation and standardized procedures [97](index=97&type=chunk) - The company continuously improves and perfects its corporate governance structure and internal control system, effectively protecting the legitimate rights and interests of investors [97](index=97&type=chunk) [Significant Matters](index=24&type=section&id=Significant%20Matters) This section covers the fulfillment of commitments, non-operating fund occupation, external guarantees, auditor appointments, litigation, penalties, integrity, related party transactions, and major contracts [Fulfillment of Commitments](index=24&type=section&id=Fulfillment%20of%20Commitments) The company and its controlling shareholder fulfilled all commitments regarding competition, related party transactions, independence, shareholding, and return enhancement measures - The controlling shareholder, Yunnan Provincial Industrial Investment Holding Group Co., Ltd., committed to avoiding horizontal competition, regulating related party transactions, and maintaining the company's independence, and has fulfilled these commitments [99](index=99&type=chunk) - The company committed to disclosing information truthfully, accurately, completely, fairly, and timely, and has fulfilled this commitment [99](index=99&type=chunk) - Gongtou Group and Nantian Electronics Information Industry Group Co., Ltd. committed not to reduce their shareholdings and have fulfilled this commitment [99](index=99&type=chunk) - The company committed to strengthening the promotion of fundraising projects, improving corporate governance, strengthening the management of raised funds, and improving profit distribution policies, and has fulfilled these commitments [100](index=100&type=chunk) - All commitment matters have been fulfilled on time, with no overdue unfulfilled commitments [100](index=100&type=chunk) [Non-Operating Occupation of Funds](index=25&type=section&id=Non-Operating%20Occupation%20of%20Funds) No non-operating occupation of funds by controlling shareholders or related parties occurred during the reporting period - The company had no non-operating occupation of funds by controlling shareholders or other related parties during the reporting period [101](index=101&type=chunk) [Irregular External Guarantees](index=26&type=section&id=Irregular%20External%20Guarantees) No irregular external guarantees were made during the reporting period - The company had no irregular external guarantees during the reporting period [102](index=102&type=chunk) [Appointment and Dismissal of Accounting Firms](index=26&type=section&id=Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The semi-annual financial report was unaudited, so no appointment or dismissal of accounting firms occurred - The company's semi-annual report was unaudited [103](index=103&type=chunk) [Board of Directors' and Supervisory Board's Explanation on "Non-Standard Audit Report" for the Current Period](index=26&type=section&id=Board%20of%20Directors%27%20and%20Supervisory%20Board%27s%20Explanation%20on%20%E2%80%9CNon-Standard%20Audit%20Report%E2%80%9D%20for%20the%20Current%20Period) As the semi-annual report is unaudited, no explanation for a "non-standard audit report" is required - The company had no non-standard audit report during the reporting period [104](index=104&type=chunk) [Board of Directors' Explanation on "Non-Standard Audit Report" for the Previous Year](index=26&type=section&id=Board%20of%20Directors%27%20Explanation%20on%20%E2%80%9CNon-Standard%20Audit%20Report%E2%80%9D%20for%20the%20Previous%20Year) The Board of Directors does not need to explain a "non-standard audit report" for the previous year, indicating no such report was issued - The company had no non-standard audit report during the reporting period [104](index=104&type=chunk) [Bankruptcy and Reorganization Matters](index=26&type=section&id=Bankruptcy%20and%20Reorganization%20Matters) No bankruptcy or reorganization matters occurred during the reporting period - The company had no bankruptcy or reorganization matters during the reporting period [104](index=104&type=chunk) [Litigation Matters](index=26&type=section&id=Litigation%20Matters) No major litigation or arbitration matters occurred, but other cases totaling **173.1542 million yuan** are ongoing, with the company as plaintiff in **148.9130 million yuan** and defendant in **24.2412 million yuan** - The company had no major litigation or arbitration matters during this reporting period [105](index=105&type=chunk) Overview of Other Litigation Matters | Amount Involved (million yuan) | Provision for Liabilities Formed | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | | :--- | :--- | :--- | :--- | | 173.1542 | No | Cases are in different stages such as acceptance, filing, hearing, judgment, and settlement, with settled cases involving principal of **24.5171 million yuan** and unsettled cases involving principal of **148.6371 million yuan**. The company is the plaintiff (applicant) in cases with a principal amount of **148.9130 million yuan**; the company is the defendant in cases with a principal amount of **24.2412 million yuan**. | The company will continue to monitor the progress of litigation and arbitration cases and actively take relevant measures to protect the legitimate rights and interests of the company and its shareholders. | [Penalties and Rectification](index=26&type=section&id=Penalties%20and%20Rectification) No penalties or rectification situations occurred during the reporting period - The company had no penalties or rectification situations during the reporting period [105](index=105&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=27&type=section&id=Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) The company, its controlling shareholder, and actual controller maintained good integrity status - The company had no integrity issues during the reporting period [106](index=106&type=chunk) [Significant Related Party Transactions](index=27&type=section&id=Significant%20Related%20Party%20Transactions) No significant related party transactions occurred in daily operations, asset/equity sales, joint investments, or related debt/credit. However, the company projected **58.27 million yuan** in related party transactions for 2025 with Gongtou Group - The company had no related party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or related party debt/credit during the reporting period [106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk) - The company had no deposits, loans, credit lines, or other financial business with related financial companies [110](index=110&type=chunk)[111](index=111&type=chunk) - The company projected daily related party transactions for 2025 and signed a framework contract for integrated procurement of informatization and digitalization construction with Gongtou Group, with an estimated total amount of **58.27 million yuan** [112](index=112&type=chunk)[113](index=113&type=chunk) [Significant Contracts and Their Performance](index=28&type=section&id=Significant%20Contracts%20and%20Their%20Performance) No significant entrustment, contracting, or leasing matters. The company provided a guarantee of **18.9459 million yuan** to Beijing Nantian Software, representing **0.70%** of net assets - The company had no entrustment, contracting, leasing matters, or other significant contracts during the reporting period [115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk)[122](index=122&type=chunk) Significant Guarantees | Name of Guaranteed Party | Guarantee Limit (yuan) | Actual Guarantee Amount (yuan) | Type of Guarantee | Guarantee Period | Fulfilled | Related Party Guarantee | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Beijing Nantian Software Co., Ltd. | 50,000,000.00 | 18,945,900.00 | Joint and several liability guarantee | 1 year | No | Yes | - As of the end of the reporting period, the total actual guarantee balance was **18.9459 million yuan**, accounting for **0.70%** of the company's net assets [120](index=120&type=chunk) - The company had no entrusted wealth management during the reporting period [121](index=121&type=chunk) [Explanation of Other Significant Matters](index=29&type=section&id=Explanation%20of%20Other%20Significant%20Matters) No other significant matters requiring explanation occurred during the reporting period - The company had no other significant matters requiring explanation during the reporting period [123](index=123&type=chunk) [Significant Matters of Company Subsidiaries](index=29&type=section&id=Significant%20Matters%20of%20Company%20Subsidiaries) No significant matters occurred at the subsidiary level during the reporting period - The company had no significant matters of subsidiaries during the reporting period [124](index=124&type=chunk) [Share Changes and Shareholder Information](index=30&type=section&id=Share%20Changes%20and%20Shareholder%20Information) This section details changes in share capital due to restricted stock repurchases, and provides information on shareholder numbers and major shareholders [Share Change Status](index=30&type=section&id=Share%20Change%20Status) Total share capital decreased by **127,162 shares** to **393,617,825 shares** due to restricted stock repurchases and cancellations, affecting both restricted and unrestricted shares - The company's total share capital decreased by **127,162 shares**, changing to **393,617,825 shares**, due to the repurchase and cancellation of restricted shares [127](index=127&type=chunk)[130](index=130&type=chunk)[131](index=131&type=chunk) - Restricted shares decreased by **3,432,809 shares**, while unrestricted shares increased by **3,305,647 shares** [130](index=130&type=chunk) - Share changes were primarily due to the unlocking of the second restricted period of the 2021 restricted stock incentive plan, and the repurchase and cancellation of restricted shares due to individual performance appraisals or position changes of some incentive recipients [127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk)[131](index=131&type=chunk)[133](index=133&type=chunk) - Restricted shares of the company's directors and senior management changed due to resignation or unlocking [127](index=127&type=chunk)[135](index=135&type=chunk)[136](index=136&type=chunk) [Securities Issuance and Listing](index=33&type=section&id=Securities%20Issuance%20and%20Listing) No securities issuance or listing occurred during the reporting period - The company had no securities issuance or listing during the reporting period [137](index=137&type=chunk) [Shareholder Numbers and Shareholding Status](index=33&type=section&id=Shareholder%20Numbers%20and%20Shareholding%20Status) As of the reporting period end, the company had **75,506** common shareholders. Controlling shareholder Yunnan Provincial Industrial Investment Holding Group Co., Ltd. held **34.59%**, with some shares pledged - The total number of common shareholders at the end of the reporting period was **75,506** [138](index=138&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at Period-End (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | Share Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yunnan Provincial Industrial Investment Holding Group Co., Ltd. | State-owned legal person | 34.59% | 136,142,507.00 | 0 | 136,142,507.00 | Pledged | 67,373,700.00 | | Hong Kong Securities Clearing Company Limited | Overseas legal person | 0.74% | 2,928,048.00 | 0 | 2,928,048.00 | Not applicable | 0 | | Yunnan Gongtou Digital Technology Development Co., Ltd. | State-owned legal person | 0.63% | 2,488,233.00 | 0 | 2,488,233.00 | Not applicable | 0 | - Gongtou Group and Gongtou Digital Tech are parties acting in concert; Gongtou Group accepts entrusted share management from Gongtou Digital Tech [139](index=139&type=chunk) - Some of the top 10 common shareholders hold company shares through investor credit securities accounts [139](index=139&type=chunk) [Shareholding Changes of Directors, Supervisors, and Senior Management](index=34&type=section&id=Shareholding%20Changes%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) No changes in shareholding of directors, supervisors, and senior management occurred during the reporting period - The shareholding of the company's directors, supervisors, and senior management did not change during the reporting period; refer to the 2024 Annual Report for details [141](index=141&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=35&type=section&id=Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) No changes in the controlling shareholder or actual controller occurred during the reporting period - The company's controlling shareholder did not change during the reporting period [142](index=142&type=chunk) - The company's actual controller did not change during the reporting period [142](index=142&type=chunk) [Preferred Share Related Information](index=35&type=section&id=Preferred%20Share%20Related%20Information) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period [143](index=143&type=chunk) [Bond Related Information](index=36&type=section&id=Bond%20Related%20Information) The company had no bond-related situations during the reporting period, indicating a financing structure primarily based on equity and bank loans - The company had no bond-related situations during the reporting period [145](index=145&type=chunk) [Financial Report](index=37&type=section&id=Financial%20Report) This section presents the company's unaudited semi-annual consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity [Audit Report](index=37&type=section&id=Audit%20Report) The semi-annual financial report was unaudited, thus no audit report is attached - The company's semi-annual financial report was unaudited [147](index=147&type=chunk) [Financial Statements](index=37&type=section&id=Financial%20Statements) This section provides the company's H1 2025 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, showing revenue growth but net loss and negative operating cash flow Major Data from Consolidated Balance Sheet | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | Total Assets | 8,747,735,200.74 | 10,159,851,622.69 | | Total Liabilities | 6,052,046,890.57 | 7,389,712,287.93 | | Total Owners' Equity | 2,695,688,310.17 | 2,770,139,334.76 | Major Data from Consolidated Income Statement | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 4,579,927,243.09 | 3,922,702,181.58 | | Operating Profit | -13,168,846.66 | 16,187,602.24 | | Net Profit | -5,103,516.35 | 18,540,380.78 | | Net Profit Attributable to Parent Company Shareholders | -5,002,840.27 | 25,363,666.52 | | Basic Earnings Per Share | -0.0127 | 0.0656 | Major Data from Consolidated Cash Flow Statement | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -2,038,474,919.47 | -1,677,458,573.30 | | Net Cash Flow from Investing Activities | -126,060,294.47 | 45,451,524.75 | | Net Cash Flow from Financing Activities | 528,105,640.08 | 319,610,694.42 | | Net Increase in Cash and Cash Equivalents | -1,636,478,691.66 | -1,312,341,098.72 | [Company Basic Information](index=55&type=section&id=Company%20Basic%20Information) Yunnan Nantian Electronics Information Industry Co., Ltd., established on December 21, 1998, is listed on the SZSE, headquartered in Kunming, and operates in software and IT services - The company was established on December 21, 1998, with its registered and headquarters office located in Kunming [177](index=177&type=chunk) - The company belongs to the software and information technology service industry, primarily engaged in software development and services, integrated solutions, intelligent channel solutions, and IT product sales and industrial internet businesses [177](index=177&type=chunk) - As of June 30, 2025, the company's share capital was **393,617,825.00 yuan** [177](index=177&type=chunk) [Basis of Financial Statement Preparation](index=55&type=section&id=Basis%20of%20Financial%20Statement%20Preparation) Financial statements are prepared in accordance with Chinese Accounting Standards and CSRC regulations, with no significant going concern doubts identified - Financial statements are prepared in accordance with "Enterprise Accounting Standards" and relevant regulations issued by the Ministry of Finance, as well as the "Information Disclosure and Reporting Rules for Companies Issuing Securities to the Public No. 15 - General Provisions for Financial Reports (Revised in 2023)" issued by the China Securities Regulatory Commission [178](index=178&type=chunk) - The Group has evaluated its ability to continue as a going concern and has not identified any significant doubts [179](index=179&type=chunk) [Significant Accounting Policies and Accounting Estimates](index=55&type=section&id=Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the company's accounting policies and estimates for financial statement preparation, covering areas like enterprise accounting standards, financial instruments, inventory, revenue recognition, and share-based payments - The company adheres to enterprise accounting standards, truthfully, accurately, and completely reflecting its financial position and operating results [182](index=182&type=chunk) - Financial assets are classified as measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss [192](index=192&type=chunk) - Inventory includes raw materials, work-in-progress, finished goods, goods in transit, and contract performance costs, valued using the weighted average method or specific identification method, and impairment provisions are made for inventory [205](index=205&type=chunk)[206](index=206&type=chunk) - Revenue recognition principle is to recognize revenue when the customer obtains control of the related goods or services, with specific methods varying by business type (software development, integrated solutions, intelligent channels, services, IT product sales) [229](index=229&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk) - Share-based payments are measured at fair value on the grant date and recognized as costs or expenses over the vesting period based on the best estimate of the number of exercisable shares [228](index=228&type=chunk) [Taxation](index=70&type=section&id=Taxation) The company's main taxes include VAT, urban maintenance and construction tax, corporate income tax, education surcharges, and property tax, with some subsidiaries enjoying a **15%** corporate income tax rate due to high-tech status or Western Development policy Major Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable income | 13%、9%、6%、0% | | Urban Maintenance and Construction Tax | Actual turnover tax paid | 7% | | Corporate Income Tax | Corporate taxable income | 15%、25% | | Education Surcharge | Actual turnover tax paid | 3% | | Local Education Surcharge | Actual turnover tax paid | 2% | | Property Tax | Residual value of self-used properties or rental income from leased properties | 1.2% or 4%/12% | - The company and several subsidiaries (such as Beijing Nantian Software, Shanghai Nantian Computer System, Guangzhou Nantian Computer System, etc.) enjoy a **15%** corporate income tax rate due to high-tech enterprise certification or Western Development policy [247](index=247&type=chunk)[248](index=248&type=chunk)[249](index=249&type=chunk)[250](index=250&type=chunk) - Beijing Starlink Nantian Technology Co., Ltd., Yunnan Electronic Equipment Co., Ltd., Yunnan Nantian Kaima Technology Co., Ltd., and Wuhan Nantian Computer System Co., Ltd. apply a **25%** corporate income tax rate [246](index=246&type=chunk) [Notes to Consolidated Financial Statement Items](index=72&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on consolidated financial statement items, highlighting significant changes such as a substantial decrease in monetary funds, increases in accounts receivable and inventory, and a rise in short-term borrowings Monetary Funds | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | Cash on hand | 14,525.51 | 156,982.81 | | Bank deposits | 871,025,231.73 | 2,510,211,466.09 | | Other monetary funds | 284,235,738.27 | 403,921,660.75 | | Total | 1,155,275,495.51 | 2,914,290,109.65 | Accounts Receivable and Impairment Provisions | Item | Period-End Book Balance (yuan) | Period-End Impairment Provision (yuan) | Period-Beginning Book Balance (yuan) | Period-Beginning Impairment Provision (yuan) | | :--- | :--- | :--- | :--- | :--- | | Total Accounts Receivable | 2,359,511,372.14 | 229,181,262.85 | 2,107,675,547.71 | 208,031,013.19 | | Of which: Individually assessed | 29,809,018.24 | 29,809,018.24 | 30,646,739.12 | 30,646,739.12 | | Of which: Group assessed | 2,329,702,353.90 | 199,372,244.61 | 2,077,028,808.59 | 177,384,274.07 | Short-Term Borrowings | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | Pledged borrowings | 0 | 153,164,952.61 | | Guaranteed borrowings | 6,470,000.00 | 9,000,000.00 | | Credit borrowings | 1,303,099,300.95 | 411,126,138.97 | | Accrued interest not yet due | 1,529,985.35 | 396,469.82 | | Total | 1,311,099,286.30 | 573,687,561.40 | Operating Revenue and Operating Costs | Item | Current Period Revenue (yuan) | Current Period Cost (yuan) | Prior Period Revenue (yuan) | Prior Period Cost (yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 4,563,525,183.03 | 4,141,172,400.46 | 3,908,122,891.70 | 3,457,714,368.89 | | Other Business | 16,402,060.06 | 6,595,337.22 | 14,579,289.88 | 4,485,619.30 | | Total | 4,579,927,243.09 | 4,147,767,737.68 | 3,922,702,181.58 | 3,462,199,988.19 | Research and Development Expenses | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Employee compensation | 154,116,356.80 | 163,242,960.32 | | Amortization of intangible assets | 30,822,435.85 | 29,353,915.83 | | Technical service fees | 2,877,432.75 | 6,950,299.06 | | Travel expenses | 1,291,185.51 | 2,281,146.59 | | Depreciation expenses | 2,347,972.75 | 2,292,673.44 | | Material consumption | 497,437.32 | 425,274.48 | | Lease expenses | 312,245.97 | 462,358.16 | | Office expenses | 370,672.72 | 413,000.76 | | Intermediary agency fees | 165,154.47 | 188,564.76 | | Other | 236,121.65 | 205,057.53 | | Total | 193,037,015.79 | 205,815,250.93 | [Research and Development Expenses](index=104&type=section&id=Research%20and%20Development%20Expenses) Total R&D investment was **202.59656183 million yuan**, a **2.83%** year-on-year decrease, with **193.03701579 million yuan** expensed and **9.55954604 million yuan** capitalized, focusing on AI large model applications Overview of R&D Expenses | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Employee compensation | 163,069,031.14 | 165,363,521.47 | | Amortization of intangible assets | 30,822,435.85 | 29,353,915.83 | | Technical service fees | 3,106,593.97 | 7,502,715.59 | | Travel expenses | 1,359,338.61 | 2,291,282.59 | | Depreciation expenses | 2,350,309.89 | 2,292,673.44 | | Material consumption | 530,478.79 | 429,709.11 | | Lease expenses | 312,245.97 | 462,358.16 | | Office expenses | 370,914.41 | 413,000.76 | | Intermediary agency fees | 427,711.87 | 188,564.76 | | Other | 247,501.33 | 205,359.75 | | Total | 202,596,561.83 | 208,503,101.46 | | Of which: Expensed R&D expenditure | 193,037,015.79 | 205,815,250.93 | | Capitalized R&D expenditure | 9,559,546.04 | 2,687,850.53 | - The company has capitalized R&D investments in projects such as the LLM application support library platform, intelligent accounting middle-office assistant, and large model-based intelligent document review system [462](index=462&type=chunk)[463](index=463&type=chunk) [Changes in Consolidation Scope](index=105&type=section&id=Changes%20in%20Consolidation%20Scope) In March 2025, Nantian Zhilian and its two sub-subsidiaries were deconsolidated as the company lost control due to a board reshuffle - In March 2025, after the board reshuffle of Nantian Zhilian, the company no longer controlled Nantian Zhilian's board of directors and operations [464](index=464&type=chunk) - The company's equity interest in Nantian Zhilian is **48.19%**, which is below **50%**, thus the company no longer has control [464](index=464&type=chunk) - This resulted in Nantian Zhilian and its two third-tier subsidiaries no longer being included in the Group's consolidated financial statements [464](index=464&type=chunk) [Interests in Other Entities](index=105&type=section&id=Interests%20in%20Other%20Entities) The company holds interests in several wholly-owned or controlled subsidiaries, primarily in the information industry, and also has investments in associates like Beijing Star Cube Technology Development Co., Ltd Overview of Major Subsidiaries | Subsidiary Name | Registered Capital (yuan) | Business Nature | Shareholding Ratio (Direct) | Method of Acquisition | | :--- | :--- | :--- | :--- | :--- | | Beijing Nantian Software Co., Ltd. | 200,000,000.00 | Information industry | 100.00% | Establishment | | Beijing Starlink Nantian Technology Co., Ltd. | 20,000,000.00 | Information industry | 51.00% | Establishment | | Shanghai Nantian Computer System Co., Ltd. | 102,094,284.50 | Information industry | 100.00% | Establishment | | Guangzhou Nantian Computer System Co., Ltd. | 100,230,000.00 | Information industry | 100.00% | Establishment | - Nantian Zhijie Technology (Yunnan) Co., Ltd. has a **40%** shareholding ratio, but control is achieved through the appointment of an executive director and general manager [466](index=466&type=chunk) Major Financial Information of Important Non-Wholly Owned Subsidiary (Beijing Starlink Nantian Technology Co., Ltd.) | Indicator | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Operating Revenue | 2,179,726,567.10 | 1,274,287,572.52 | | Net Profit | -3,381,822.78 | 18,247,700.72 | | Total Comprehensive Income | -3,381,822.78 | 18,247,700.72 | | Net Cash Flow from Operating Activities | 149,947.43 | -56,771,826.20 | Major Financial Information of Important Associate (Beijing Star Cube Technology Development Co., Ltd.) | Indicator | Current Period Amount (yuan) | Prior Period Amount (yuan) | | :--- | :--- | :--- | | Total Assets | 381,600,163.61 | 386,586,717.23 | | Total Liabilities | 28,282,488.34 | 24,981,195.89 | | Total Net Assets | 353,317,675.27 | 361,605,521.34 | | Operating Revenue | 19,033,079.76 | 14,278,383.57 | | Net Profit | -8,286,913.23 | -2,048,827.17 | | Total Comprehensive Income | -8,287,846.07 | -2,047,278.03 | [Government Grants](index=107&type=section&id=Government%20Grants) The company recognized **18.80945959 million yuan** in deferred income from government grants, with **1.05 million yuan** added and **0.211875 million yuan** transferred to other income this period, related to various industry and technology projects Liability Items Involving Government Grants | Accounting Account | Beginning Balance (yuan) | Amount of New Grants in Current Period (yuan) | Amount Transferred to Other Income in Current Period (yuan) | Ending Balance (yuan) | Related to Assets/Income | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 17,971,334.59 | 1,050,000.00 | 211,875.00 | 18,809,459.59 | | | Of which: 2009 Electronic Information Industry Revitalization and Technology Transformation | 8,713,505.13 | 0 | 162,500.00 | 8,551,005.13 | Related to assets | | Key Technology Research Project for Intelligent Financial Equipment Facing Cross-Border Trade | 0 | 900,000.00 | 0 | 900,000.00 | Related to assets | - Government grants recognized in current profit or loss amounted to **5,456,827.64 yuan** [481](index=481&type=chunk) [Risks Related to Financial Instruments](index=108&type=section&id=Risks%20Related%20to%20Financial%20Instruments) The company faces market risks (exchange rate, interest rate), credit risk, and liquidity risk, managed through credit limits, monitoring, and maintaining unused bank credit lines - The company's main financial instruments include monetary funds, equity investments, borrowings, receivables, and payables, facing credit risk, liquidity risk, and market risk [482](index=482&type=chunk) - Market risks primarily include exchange rate risk (USD and HKD) and interest rate risk (floating rate interest-bearing liabilities) [482](index=482&type=chunk)[483](index=483&type=chunk) - Credit risk mainly arises from monetary funds, notes receivable, accounts receivable, receivables financing, other receivables, and contract assets, managed through credit limit approval and provision for bad debts [483](index=483&type=chunk) Credit Risk Exposure | Item | Book Balance (yuan) | Impairment Provision (yuan) | | :--- | :--- | :--- | | Accounts Receivable | 2,359,511,372.14 | 229,181,262.85 | | Other Receivables | 260,051,988.33 | 51,668,861.90 | | Notes Receivable | 46,355,117.97 | 879,497.11 | | Total | 2,665,918,478.44 | 281,729,621.86 | - Liquidity risk is managed by monitoring the use of bank borrowings and maintaining credit lines; as of June 30, 2025, the company's unused bank borrowing limit was **3.063 billion yuan** [485](index=485&type=chunk) Analysis of Financial Liabilities by Undiscounted Remaining Contractual O

Core Insights - Recent changes in senior management at Yunnan Nantian Electronic Information Industry Co., Ltd. (referred to as "Nantian Information") have been reported [1] - Zheng Yongyong has been added as a senior management personnel, while Yan Chunguang has exited from his previous position [2] Company Overview - Yunnan Nantian Electronic Information Industry Co., Ltd. was established in 1998 and is located in Kunming City, primarily engaged in the manufacturing of computers, communications, and other electronic devices [2] - The company has a registered capital of 3,936.17825 million RMB and a paid-in capital of 15 million RMB [2] Investment and Intellectual Property - Nantian Information has invested in a total of 31 enterprises and has participated in 5,000 bidding projects [2] - The company holds 83 trademark registrations and 188 patents, along with 21 administrative licenses [2]

（文章来源：证券日报） 证券日报网讯 8月12日晚间，南天信息发布公告称，公司第九届董事会第二十一次会议审议通过了《关 于清算注销控股子公司南天智杰科技（云南）有限公司的议案》《关于清算注销控股子公司云南南天凯 玛科技有限责任公司的议案》。 ...

证券代码：000948 证券简称：南天信息 公告编号：2025-037 云南南天电子信息产业股份有限公司 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。 一、董事会会议召开情况： （一）会议通知时间及方式：会议通知已于 2025 年 8 月 8 日以 邮件方式送达。 （二）会议时间、地点和方式：本次会议于 2025 年 8 月 12 日以 通讯方式召开。 （三）会议应到董事九名，实到董事九名。 （四）会议由公司董事长徐宏灿先生主持，公司监事及高级管理 人员列席会议。 公司与上海程铭咨询管理中心、山西智杰软件工程有限公司于 天智杰"），注册资本 1000 万元，公司认缴出资 400 万元，持有南 天智杰 40%股权。根据约定，公司在南天智杰其他股东首期出资到位 后完成首期出资。因南天智杰其他股东未履行出资义务，公司亦尚未 实际出资，且南天智杰并无实际经营，为提高公司运营效率，优化组 织结构，同意南天智杰清算注销。公司后续将依据最终清算结果及会 计准则的规定进行相应会计处理；本次清算前后，导致公司合并报表 范围变动；本次清算不会对公司的正常生产经营和财务状况产生重 ...

证券代码：000948 证券简称：南天信息 公告编号：2025-037 云南南天电子信息产业股份有限公司 第九届董事会第二十一次会议决议公告 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。 表决情况：九票同意、零票反对、零票弃权。 一、董事会会议召开情况： （一）会议通知时间及方式：会议通知已于 2025 年 8 月 8 日以 邮件方式送达。 （二）会议时间、地点和方式：本次会议于 2025 年 8 月 12 日以 通讯方式召开。 （三）会议应到董事九名，实到董事九名。 （四）会议由公司董事长徐宏灿先生主持，公司监事及高级管理 人员列席会议。 （五）会议的召开符合有关法律、行政法规、部门规章、规范性 文件和《公司章程》的规定。 二、 董事会会议审议情况 （一）《关于清算注销控股子公司南天智杰科技（云南）有限公 司的议案》； 公司与上海程铭咨询管理中心、山西智杰软件工程有限公司于 2020 年 8 月共同设立南天智杰科技（云南）有限公司（以下简称"南 天智杰"），注册资本 1000 万元，公司认缴出资 400 万元，持有南 天智杰 40%股权。根据约定，公司在南 ...

（编辑 李家琪） 证券日报网讯 8月8日晚间，南天信息发布公告称，公司于2025年1月14日召开第九届董事会第十六次会 议、于2025年2月7日召开2025年第一次临时股东大会审议通过了《关于修改部分条款的议案》，对公司 注册资本等相关条款进行了修改。公司已完成相关工商变更登记以及《公司章程》的备案手续，并于 2025年8月8日取得了云南省市场监督管理局换发的《营业执照》。 ...

证券代码：000948 证券简称：南天信息 公告编号：2025-036 云南南天电子信息产业股份有限公司 关于完成工商变更登记的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 云南南天电子信息产业股份有限公司（以下简称"公司"或"南 天信息"）回购注销完成部分限制性股票，公司总股本由 393,744,987 股变更为 393,617,825 股。公司于 2025 年 1 月 14 日召开第九届董事 会第十六次会议、于 2025 年 2 月 7 日召开 2025 年第一次临时股东大 会审议通过了《关于修改<南天信息章程>部分条款的议案》，对公司 注册资本等相关条款进行了修改。具体内容详见公司分别于 2025 年 1 月 15 日、2025 年 2 月 8 日在巨潮资讯网（http://www.cninfo.com.cn） 上披露的相关决议公告及《公司章程修订对照表》《公司章程（2025 年 2 月）》。 公司已完成相关工商变更登记以及《公司章程》的备案手续，并 于 2025 年 8 月 8 日取得了云南省市场监督管理局换发的《营业执照》， 变更登记后的公司 ...

Core Points - Nantian Information (000948) closed at 19.75 yuan on August 5, 2025, with a slight decline of 0.2% [1] - The company experienced a net outflow of main funds amounting to 23.82 million yuan, representing 14.72% of the total transaction amount [1] - The latest quarterly report shows total revenue of 1.993 billion yuan, a year-on-year increase of 1.70%, while net profit attributable to shareholders decreased by 228.98% to 30.08 million yuan [1] Financial Performance - Total revenue for Q1 2025 was 1.993 billion yuan, reflecting a 1.70% year-on-year growth [1] - Net profit attributable to shareholders was 30.08 million yuan, down 228.98% compared to the previous year [1] - The company's non-recurring net profit was 32.11 million yuan, a decrease of 198.09% year-on-year [1] - Current ratio stands at 1.326, quick ratio at 0.710, and debt-to-asset ratio at 68.63% [1] Company Background - Nantian Information, officially known as Yunnan Nantian Electronic Information Industry Co., Ltd., was established in 1998 and is based in Kunming [2] - The company primarily engages in the manufacturing of computers, communications, and other electronic equipment [2] - The registered capital of the company is approximately 393.74 million yuan [1][2] Investment and Intellectual Property - The company has made investments in 31 enterprises and participated in 5,000 bidding projects [2] - Nantian Information holds 83 trademark registrations and 188 patents [2] - The company has obtained 21 administrative licenses [2]