Group 1 - The core viewpoint of the article is that *ST Yushun (002289.SZ) reported a significant increase in revenue for the first half of 2025, despite posting a net loss [1] - The company achieved an operating income of 134 million yuan, representing a year-on-year growth of 44.89% [1] - The net profit attributable to shareholders of the listed company was a loss of 4.4648 million yuan, and the net profit after deducting non-recurring gains and losses was a loss of 5.5267 million yuan [1] - The basic earnings per share were reported at -0.0159 yuan [1]

Group 1 - The core viewpoint of the article is that ST Yushun (002289) reported significant growth in revenue but continued to face challenges with net profit in the first half of 2025 [1] Group 2 - In the first half of 2025, the company achieved operating revenue of 134 million yuan, representing a year-on-year increase of 44.89% [1] - The net profit for the same period was -4.4648 million yuan, showing a year-on-year improvement of 46.67% [1] - The basic earnings per share were -0.0159 yuan, and the weighted average return on equity (ROE) was -1.95% [1]

深圳市宇顺电子股份有限公司 2025 年半年度财务报告（未经审计） 深圳市宇顺电子股份有限公司 （SHENZHEN SUCCESS ELECTRONICS. CO., LTD.） 2025 年半年度财务报告 （未经审计） 2025 年 8 月 1 深圳市宇顺电子股份有限公司 2025 年半年度财务报告（未经审计） 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：深圳市宇顺电子股份有限公司 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 | 10,008,542.10 | 26,114,261.47 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | 11,099,627.31 | 2,143,753.33 | | 应收账款 | 135,415,497.66 | 110,039,005.15 | | ...

深圳市宇顺电子股份有限公司 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 上市公司 2025 年半年度非经营性资金占用及其他关联资金往来 编制单位：深圳市宇顺电子股份有限公司 单位：人民币万元 情况汇总表 深圳市宇顺电子股份有限公司 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 | 其他关联资金往来 | 资金往来方名称 | 往来方与上 | 上市公司核算 | 2025 年期初 | 2025 半年度往来 | 2025 | 半年度往 | 2025 | 半年度偿 | 2025 年半年度 | 往来形成 | 往来性质（经营性 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 市公司的关 | 的会计科目 | 往来资金余 | 累计发生金额 | | 来资金的利息 | | 还累计发生金 | 期末占用资金 | 原因 | 往来、非经营性往 | | | | 联关系 | | 额 | （不含利息） | | （如有） | | 额 | 余额 | | 来） | | 控股股东、实际控制人 ...

证券代码：002289 证券简称：*ST宇顺 公告编号：2025-082 深圳市宇顺电子股份有限公司 （1）应收账款 公司基于单项和组合评估应收款项的预期信用损失。如果有客观证据表明应 收款项已经发生信用减值，则本公司对应收款项在单项资产的基础上确定预期信 用损失。对于划分为组合的应收款项，本公司参考历史信用损失经验，结合当前 状况以及对未来经济状况的预测，依据信用风险特征将应收账款划分为若干组合， 在组合基础上计算预期信用损失，确定组合的依据如下： 关于2025年半年度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、计提资产减值准备情况概述 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指南第 1 号——业务办理》《企业会计准则》和深圳市宇顺电子股份有限公司（以 下简称"公司"）会计政策等相关规定，为更加真实、准确地反映公司截至 2025 年 6 月 30 日的资产状况和财务状况，公司及下属子公司基于谨慎性原则，对各 类资产进行了清查、分析和评估，对可能发生减值的资产计提了减值准备。 经公司财务部初步测算，公 ...

深圳市宇顺电子股份有限公司 2025 年半年度报告全文 深圳市宇顺电子股份有限公司 （SHENZHEN SUCCESS ELECTRONICS. CO., LTD.） 2025 年 08 月 1 深圳市宇顺电子股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人嵇敏、主管会计工作负责人嵇敏及会计机构负责人(会计主管 人员)张丽丽声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中如有涉及公司未来计划、业绩预测等方面的内容，均不构成本 公司对任何投资者及相关人士的承诺，投资者及相关人士应对此保持足够的 风险认识，并且应当理解计划、预测与承诺之间的差异。 公司在本报告"第三节 管理层讨论与分析"之"十、公司面临的风险和 应对措施"描述了公司未来经营中可能面临的主要风险和应对措施，敬请广 大投资者查阅并注意投资风险。 2025 年半年度报告 公司计划不派发现金红利，不送红股， ...

Market Overview - The optical and optoelectronic sector experienced a decline of 1.99% on August 27, with Infinet 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 optical and optoelectronic sector included: - Dongtian Micro (301183) with a closing price of 96.23, up 20.00% on a trading volume of 153,800 shares and a transaction value of 1.347 billion [1] - Changyang Technology (6628889) closed at 20.69, up 8.67% with a trading volume of 543,100 shares and a transaction value of 1.115 billion [1] - Conversely, significant decliners included: - Infinet (300582) closed at 15.03, down 6.47% with a trading volume of 260,300 shares and a transaction value of 401 million [2] - Ruifeng Optoelectronics (300241) closed at 6.26, down 6.15% with a trading volume of 870,000 shares and a transaction value of 559 million [2] Capital Flow - The optical and optoelectronic sector saw a net outflow of 4.444 billion from institutional investors, while retail investors contributed a net inflow of 3.619 billion [2] - The sector's overall capital flow indicates a mixed sentiment, with retail investors showing a stronger presence compared to institutional investors [2] Individual Stock Capital Flow - Dongtian Micro (301183) had a net inflow of 1.79 billion from institutional investors, but faced outflows from both retail and speculative investors [3] - Other stocks like Su Da Weige (300331) and Tengjing Technology (688195) also experienced similar patterns of net inflows from institutional investors but outflows from retail and speculative investors [3]

Market Performance - Since April 7, A-shares have experienced a continuous upward trend, with the Shanghai Composite Index rising from 3040 points to over 3800 points, marking a cumulative increase of 25.82% over the period [1] - As of August 22, the Shanghai Composite Index closed at 3825.76 points, reaching a 10-year high with a 1.45% increase; the Shenzhen Component Index rose by 2.07% to 12166.06 points, and the ChiNext Index increased by 3.36% to 2682.55 points [1] - The total market capitalization of A-shares reached 102.81 trillion yuan, reflecting a significant increase from 85.68 trillion yuan at the end of the previous year, adding 17.13 trillion yuan in 2023 [3] Individual Stock Performance - From April 7 to August 22, 742 A-shares saw price increases exceeding 50%, with 197 stocks rising over 100%, and 43 stocks increasing over 200% [2] - Notably, the stock Weiye New Materials on the Sci-Tech Innovation Board achieved a remarkable increase of 1009.78%, becoming the first tenfold stock of the year [2] - Other significant gainers include Shutai Shen and *ST Yushun, with increases of 596.42% and 439.96% respectively [2] Industry Performance - All 31 primary industries in the Shenwan index experienced growth from April 7 to August 22, with 27 industries rising over 10% and 16 industries over 20% [2] - The top three performing industries were Electronics, Comprehensive, and Communications, with increases of 51.62%, 48.42%, and 45.76% respectively [2] Investor Participation - Individual investors hold approximately 33% of the A-share market, indicating a net increase of 5.653 trillion yuan in their market value this year [3] - With around 240 million retail investors, the average net gain per investor this year is approximately 23,500 yuan [3]

Group 1 - The Shenzhen Stock Exchange has taken self-regulatory measures against 147 instances of abnormal trading behavior this week, involving activities such as price manipulation and false declarations [1] - The stock "*ST Yushun" is under continued close monitoring due to price anomalies, with self-regulatory measures implemented to suspend trading for accounts that disrupt normal trading order and mislead other investors [1] - Three significant matters related to listed companies have been investigated, and one case suspected of illegal activities has been reported to the China Securities Regulatory Commission [1]

Core Insights - The overall activity level of the A-share merger and acquisition market in China has slightly decreased, characterized by high frequency, diverse participants, and broad sectors [1] - A total of 80 merger and acquisition events were disclosed during the period, with a total transaction amount of 601.88 billion RMB, showing a significant increase in both the number and value of major M&A events compared to the previous period [2] - The real estate management and development, other metals and mining, semiconductor products, electronic equipment, instruments and components, electrical equipment, and automotive parts sectors are particularly active in M&A activities [2][3] - Private enterprises and local state-owned enterprises are actively engaging in horizontal integration and strategic cooperation, indicating diverse motivations for mergers and acquisitions [1][2] - The M&A market is expected to further release integration and value reconstruction potential, supported by regulatory policy optimization, economic recovery, policy encouragement, and capital market reforms [1] M&A Market Overview - The number of major M&A events in the A-share market increased by 60% compared to the previous period, with a total disclosed transaction amount of 601.88 billion RMB, representing a 187.97% increase [2] - Key sectors for M&A activities include real estate management and development, other metals and mining, semiconductor products, electronic equipment, instruments and components, electrical equipment, and automotive parts [2] - The market is entering a new phase characterized by "efficiency improvement + structural optimization," driven by policy and proactive corporate adjustments [2] Listed Companies' M&A Plans - A total of 44 listed companies announced or planned M&A activities, with an average stock price fluctuation of 7.53% over two weeks [2] - 22 companies made significant progress after announcing M&A plans, with an average stock price fluctuation of 3.76% [2] - The number of major restructuring events increased by 60% compared to the previous period, with research enthusiasm rising by 11.54% [2] Companies with Significant Progress - Companies such as Yunnan Cheng Investment and AnYuan Coal Industry have made notable advancements in their M&A plans, with various strategic objectives including asset adjustments and diversification [10][11] - The progress of these companies reflects a broader trend of active restructuring and strategic realignment within the A-share market [10][11] Market Sentiment and Performance - The restructuring index showed a fluctuation of 5.10% over the two-week period, indicating a positive sentiment in the M&A market [12] - The average price-to-earnings (PE) ratios and market values of companies involved in M&A activities vary significantly, reflecting diverse market conditions and investor sentiments [7][8]