Section 1 Important Notes, Table of Contents, and Definitions [Important Notes](index=2&type=section&id=Important%20Notes) The board and management guarantee report accuracy, acknowledge future uncertainties, and confirm no dividend or bonus share distribution. - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) - Forward-looking statements regarding future plans and development strategies in this report may be subject to uncertainties influenced by macroeconomic and market environments[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the report's overall structure, including nine main chapters and their starting page numbers for quick navigation. - The report comprises nine main chapters, covering important notes, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, financial reports, and other submitted data[7](index=7&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms and entities used in the report, including company name changes, major related parties, and IoT technology terms, ensuring clear understanding. - Sunsea AIoT refers to Sunsea AIoT Technology Co., Ltd., formerly Shenzhen Sunsea Communication Technology Co., Ltd[11](index=11&type=chunk) - Wireless communication modules refer to components providing network information transmission capabilities for various IoT terminal devices[12](index=12&type=chunk) - The report also defines mobile communication technologies such as 4G and 5G, and currency units like Yuan and 10,000 Yuan[12](index=12&type=chunk) Section 2 Company Profile and Key Financial Indicators [I. Company Profile](index=7&type=section&id=I.%20Company%20Profile) This section introduces the company's basic information, including stock ticker, code, listing exchange, legal representative, and contact details, confirming no changes during the reporting period. - The company's stock ticker is 'Sunsea AIoT', stock code '**002313**', listed on the Shenzhen Stock Exchange[14](index=14&type=chunk) - The company's legal representative is Xiao Jianbo, and the Board Secretary is Huang Yunpeng[14](index=14&type=chunk)[15](index=15&type=chunk) - During the reporting period, there were no changes to the company's registered address, office address, website, email, or information disclosure location[16](index=16&type=chunk)[17](index=17&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=8&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Revenue decreased by 18.51%, net loss attributable to shareholders expanded to -43.49 million Yuan, total assets slightly declined, but operating cash flow significantly improved. Key Accounting Data and Financial Indicators (Consolidated Statements) | Indicator | Current Period (million Yuan) | Prior Year (million Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,314.22 | 1,612.72 | -18.51% | | Net Profit Attributable to Listed Company Shareholders | -43.49 | -38.02 | -14.40% | | Net Cash Flow from Operating Activities | 174.25 | -104.21 | 267.20% | | Basic EPS (Yuan/share) | -0.1162 | -0.1015 | -14.48% | | Weighted Average ROE | -97.24% | -20.95% | -76.29% | | **Period-End Indicator** | **Current Period-End (million Yuan)** | **Prior Year-End (million Yuan)** | **Period-End Change from Prior Year-End** | | Total Assets | 3,237.97 | 3,315.32 | -2.33% | | Net Assets Attributable to Listed Company Shareholders | 23.64 | 66.47 | -64.43% | [V. Accounting Data Differences Under Domestic and Overseas Accounting Standards](index=8&type=section&id=V.%20Accounting%20Data%20Differences%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company's net profit and net assets showed no differences between international, overseas, and Chinese accounting standards during the reporting period. - The company's financial reports for the reporting period showed no differences in net profit and net assets between international accounting standards and Chinese accounting standards[20](index=20&type=chunk) - The company's financial reports for the reporting period showed no differences in net profit and net assets between overseas accounting standards and Chinese accounting standards[21](index=21&type=chunk) [VI. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses totaled 1.11 million Yuan, primarily from non-current asset disposal, government grants, and reversal of impairment provisions for receivables. Non-Recurring Gains and Losses Items and Amounts | Item | Amount (Yuan) | | :--- | :--- | | Gains/losses on disposal of non-current assets | 224,348.21 | | Government grants recognized in current profit/loss | 881,394.09 | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains/losses from disposal of financial assets and liabilities, excluding effective hedge accounting related to normal business operations | -33,564.26 | | Reversal of impairment provisions for receivables subject to individual impairment testing | 13,548,276.05 | | Gains/losses from debt restructuring | -995,454.60 | | Other non-operating income and expenses apart from the above items | -14,982,423.36 | | Other profit/loss items meeting the definition of non-recurring gains/losses | 263,542.44 | | Less: Income tax impact | -2,224,951.09 | | Impact on minority interests (after tax) | 19,796.36 | | Total | 1,111,273.30 | - The company does not classify non-recurring gains and losses as recurring gains and losses[24](index=24&type=chunk) Section 3 Management Discussion and Analysis [I. Main Business Activities During the Reporting Period](index=10&type=section&id=I.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company's main businesses are wireless communication modules, communication equipment, and engineering services, offering diverse products, expanding into energy storage, and providing integrated solutions across 28 provinces. - The company's main businesses include wireless communication modules, communication equipment, and communication engineering services[26](index=26&type=chunk) - Wireless communication module business covers various communication standards from **2G to 5G+V2X**, widely applied in connected vehicles, mobile payments, and security monitoring[27](index=27&type=chunk) - Communication equipment business actively launched energy storage container transformers, industrial and commercial energy storage, and battery cabinets, while maintaining traditional product sales, in response to national energy policies[28](index=28&type=chunk) - Communication engineering services cover communication networks, information networks, and computing centers, offering integrated solutions including "consulting, survey and design, construction, maintenance, network optimization, and system integration"[29](index=29&type=chunk) [II. Analysis of Core Competencies](index=10&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company builds core competitiveness through continuous innovation in technology, management, and organization, focusing on key customers, diverse product lines, top industry qualifications, and international certifications. - The company continuously provides competitive products, solutions, and services to customers through ongoing comprehensive innovation, including technological innovation, management innovation, and organizational reform[30](index=30&type=chunk) - The company deeply cultivates large-scale key industries such as automotive, network communication, metering, and payment, with customers including the three major operators, China Tower, Ericsson, and Alibaba[31](index=31&type=chunk) - The company has established R&D centers in Shenzhen, Zhuhai, Shanghai, Chongqing, Shenyang, and Xi'an, boasting a rich product line including 5G modules, LTE-A modules, and smart modules, and pioneered explosion-proof cabinets[32](index=32&type=chunk)[33](index=33&type=chunk) - The company holds top industry qualifications, including **"Class A Communication Engineering General Contracting"** and **"Class A Engineering Design Qualification Certificate"**, possessing full-service technical capabilities in "procurement, design, construction, maintenance, and operation"[33](index=33&type=chunk) - The company has obtained multiple international authoritative certifications such as **ISO9001, ISO14001, ISO45001, ISO50001, ISO27001**, and successfully passed the **ISO/IEC 80079-34** explosion-proof product manufacturing quality management system certification in 2024[36](index=36&type=chunk) [III. Analysis of Main Business](index=12&type=section&id=III.%20Analysis%20of%20Main%20Business) Operating revenue decreased by 18.51% due to market competition, with wireless communication modules as the largest revenue source, while operating cash flow significantly improved. Major Financial Data Year-over-Year Change | Indicator | Current Period (million Yuan) | Prior Year (million Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,314.22 | 1,612.72 | -18.51% | Intensified market competition led to a decrease in operating revenue across all business segments | | Operating Costs | 1,097.81 | 1,318.68 | -16.75% | Operating revenue decreased, and operating costs decreased accordingly | | R&D Investment | 95.89 | 149.19 | -35.73% | Continued implementation of cost reduction and efficiency improvement measures, strengthening R&D

Core Insights - The wireless communication module is a crucial connection hub between the perception layer and the network layer of the Internet of Things (IoT) [1] - The global market size for wireless communication modules is projected to reach $6.12 billion in 2024, with a year-on-year growth of 9.2% [10][12] - China's wireless communication module market is expected to reach 24.9 billion yuan in 2024, with a compound annual growth rate (CAGR) of 9.4% from 2020 to 2024 [14] Industry Overview - Wireless communication modules integrate various chips and components on a PCB to facilitate radio wave transmission, noise filtering, and signal conversion [1][6] - The industry is characterized by high market concentration, with the top five companies holding over 75% of the market share by 2024 [18] Market Size and Growth - The application scale of wireless communication modules in the IoT sector is projected to be $3.09 billion in 2024, growing by 11.6% [12] - The wireless broadband application scale is expected to be $1.52 billion, with a growth of 6.9% [12] - The smart connected vehicle application scale is anticipated to reach $700 million, growing by 15.1% [12] Competitive Landscape - The leading companies in the global wireless communication module market include Quectel (移远通信) and Gree (广和通), with market shares of 42.6% and 18.1% respectively [18] - The first-tier companies generate revenues exceeding 5 billion yuan, while second-tier companies have revenues over 1 billion yuan [16] Industry Trends - Wireless communication modules are evolving from traditional connection devices to intelligent components that integrate communication, computing, and management functions [20] - The integration of AI technology is transforming communication modules into intelligent terminals capable of data analysis and decision support [21] - There is a trend towards smaller sizes and lower power consumption in wireless communication modules, catering to the needs of portable and embedded systems [23]

证券之星消息，8月14日通信设备板块较上一交易日下跌2.74%，日海智能领跌。当日上证指数报收于 3666.44，下跌0.46%。深证成指报收于11451.43，下跌0.87%。通信设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688159 | 有方科技 | 71.86 | 20.01% | 13.26万 | | 8.95 亿 | | 002491 | 通鼎互联 | 5.58 | 10.06% | 56.92万 | | 3.10亿 | | 002104 | 恒宝股份 | 27.02 | 10.02% | 199.35万 | | 52.84亿 | | 000070 | 特发信息 | 66'01 | 10.01% | 164.02万 | | 16.98亿 | | 600775 | 南京熊猫 | 13.41 | 10.01% | 132.32万 | | 16.59亿 | | 002017 | 东信和平 | 32.39 | 5.16% | 121.18万 | ...

New Stock Listings - Zhigao Machinery listed on August 14, 2025, with an issuance price of 17.41[1] - China Shipbuilding (stock code: 600150) has a buyout request period from August 13 to August 15, 2025[1] - Shinke Co. (stock code: 002633) has a tender offer period from July 29 to August 27, 2025[1] Tender Offers and Mergers - ST Kelly (stock code: 300326) has a tender offer period from July 17 to August 15, 2025[1] - Fushun Special Steel (stock code: 600399) has a tender offer period from August 12 to September 10, 2025[1] - China Heavy Industry (stock code: 601989) is involved in a merger announcement[1] Market Volatility - Longhua Technology (stock code: 603280) reported severe abnormal fluctuations[1] - Guochuang Gold Control (stock code: 002670) has been flagged for abnormal trading activity[1] - ST Keli Da (stock code: 600410) is also noted for significant price volatility[1]

日海智能今日下跌5.67%，全天换手率24.24%，成交额11.87亿元，振幅7.13%。龙虎榜数据显示，机构 净买入1112.37万元，营业部席位合计净卖出445.44万元。 深交所公开信息显示，当日该股因日跌幅偏离值达-7.00%上榜，机构专用席位净买入1112.37万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交1.74亿元，其中，买入成交额为9058.37 万元，卖出成交额为8391.43万元，合计净买入666.94万元。 具体来看，今日上榜的营业部中，共有1家机构专用席位现身，即买四，买入金额1271.58万元，卖出金 额159.21万元，合计净买入1112.37万元。 近半年该股累计上榜龙虎榜5次，上榜次日股价平均涨2.33%，上榜后5日平均跌7.56%。 资金流向方面，今日该股主力资金净流出1222.81万元，其中，特大单净流入353.77万元，大单资金净流 出1576.58万元。近5日主力资金净流出1.73亿元。（数据宝） 日海智能8月13日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | ...

Market Overview - On August 13, the communication equipment sector rose by 6.06% compared to the previous trading day, with Guangku Technology leading the gains [1] - The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index closed at 11551.36, up 1.76% [1] Top Gainers in Communication Equipment Sector - Guangku Technology (300620) closed at 79.30, up 20.01% with a trading volume of 281,600 shares and a transaction value of 2.204 billion [1] - Xinyi Technology (300502) closed at 236.56, up 15.45% with a trading volume of 601,100 shares and a transaction value of 13.529 billion [1] - Dingtong Technology (688668) closed at 115.36, up 13.10% with a trading volume of 111,200 shares [1] - Other notable gainers include Zhongji Xuchuang (300308) up 11.66%, Jiexun Feihong (300213) up 10.79%, and Tefa Information (000070) up 10.02% [1] Market Capital Flow - The communication equipment sector saw a net inflow of 2.48 billion from institutional investors, while retail investors experienced a net outflow of 6.38 billion [2] - The top stocks by net inflow from institutional investors include Tianfu Communication (300394) with a net inflow of 619 million, and ZTE Corporation (000063) with a net inflow of 313 million [3] Underperformers in Communication Equipment Sector - Dayhai Intelligent (002313) closed at 12.81, down 5.67% with a trading volume of 907,500 shares and a transaction value of 1.187 billion [2] - ST Gaohong (000851) closed at 1.90, down 5.00% with a trading volume of 13,900 shares [2] - Other underperformers include Cheng Tian Wei Ye (300689) down 4.73% and ST Lu Tong (300555) down 1.67% [2]

截至2025年8月11日15时，日海智能股价报14.49元，较前一交易日下跌0.47元，跌幅3.14%。当日开盘 价为14.43元，最高触及14.85元，最低下探至13.71元，成交量为103.06万手，成交额达14.71亿元。 日海智能主营业务涵盖通信设备、物联网及大数据等领域，公司注册地位于广东省深圳市。 资金流向方面，8月11日主力资金净流出1358.28万元，占流通市值的0.25%。近五个交易日主力资金累 计净流入4791.77万元，占流通市值的0.88%。 风险提示：股市有风险，投资需谨慎。 8月11日，日海智能发布公告称，公司股票在8月7日和8月8日连续两个交易日收盘价格涨幅偏离值累计 达到20%。 ...

New Stock Issuance - Hongyuan Co., Ltd. (stock code: 920018) issued shares at a price of 9.17 on August 11, 2025[1] - China Shipbuilding Industry Corporation (stock code: 600150) has a cash acquisition request period from August 13 to August 15, 2025[1] - ST Kelly (stock code: 300326) has a tender offer period from July 17 to August 15, 2025[1] Rights and Announcements - China Heavy Industry (stock code: 601989) has a cash option declaration period starting August 13, 2025[1] - Fushun Special Steel (stock code: 600399) has a tender offer period from August 12 to September 10, 2025[1] - North Long Dragon (stock code: 301357) has an announcement link for further details[1] Market Volatility - Several stocks, including ST Xifa (stock code: 000752) and ST Aowei (stock code: 002231), are under observation for significant price fluctuations[1] - The report highlights abnormal fluctuations in stocks such as ST Songfa (stock code: 603268) and ST Yancheng (stock code: 603063)[2]

Investment Rating - The report gives a "Recommended" rating for the telecommunications industry, considering the sustained high prosperity of the sector driven by AI, 5.5G, and satellite communications [2][5]. Core Insights - The overall market performance for the week (August 4-10, 2025) saw the Shanghai Composite Index rise by 2.11%, the Shenzhen Component Index by 1.25%, and the ChiNext Index by 0.74%. The telecommunications sector index increased by 1.30% during the same period [2][11]. - Among the sub-sectors, the highest increase was seen in telecommunications cables and supporting equipment, which rose by 4.43%, while telecommunications network equipment and devices had the lowest increase at 0.11% [2][14]. - Notable individual stock performances included a 49.15% increase for Rihai Intelligent, 33.62% for Beiwai Technology, and 31.01% for Chengtian Weiye, marking them as the top gainers in the telecommunications sector [2][16]. Summary by Sections Market Overview - The telecommunications sector experienced a positive trend with a 1.30% increase in the index for the week [11]. - The sub-sector of telecommunications cables and supporting equipment led the gains with a 4.43% increase, while telecommunications network equipment and devices lagged with only a 0.11% increase [14]. Key Developments - The release of GPT-5 is expected to enhance AI applications, with ChatGPT's monthly active users projected to reach 700 million, a fourfold increase from the previous year [3][21]. - The successful launch of the low-orbit satellite internet GW constellation's 07 group of satellites marks a significant advancement in satellite internet infrastructure [3][18][19]. - North American hyperscalers reported a quarterly capital expenditure exceeding 680 billion, indicating strong growth in AI and cloud services [18]. Company Announcements - Key announcements from the telecommunications sector for the week included the completion of a share acquisition by Zhuhai Guangku Technology and the release of mid-year reports by several companies, including China Mobile, which reported a revenue of 543.769 billion, a slight decrease of 0.54% year-on-year [25][27].

Market Performance - The main board led the gains with notable increases in stocks such as Jishi Media (+10.20%), Desheng Technology (+10.02%), and Rihai Intelligent (+10.00%) [1] - The ChiNext board saw significant rises with Aerospace Intelligent Equipment (+10.64%) and Jiebang Technology (+9.61%) [1] - The Sci-Tech Innovation board was led by China Shipbuilding Gas (+7.31%) and Gaohua Technology (+7.08%) [1] - Active sub-industries included SW Communication Cables and Accessories (+2.25%) and SW Brand Consumer Electronics (+1.70%) [1] Domestic News - Aibang ARAI launched agricultural smart AR glasses with various functions including pest identification and remote guidance, already piloted in over 300 regions [1] - TSMC reported July revenue of NT$323.166 billion, a month-on-month increase of 22.5% and a year-on-year increase of 25.8%, with cumulative revenue from January to July reaching NT$2.096 trillion, up 37.6% year-on-year [1] - Sanan Optoelectronics announced that its SiC MOSFET products have been supplied in bulk to major data center and AI server power clients [1] - CINNO reported a 10% year-on-year decline in TV sales in Q2, attributed to the suspension of national subsidies in several provinces, but anticipates a mild recovery in demand as subsidy funds are fully allocated [1] Company Announcements - Wifang Optoelectronics reported H1 2025 total revenue of CNY 612 million, a year-on-year increase of 7.32%, but a net profit decrease of 32.33% to CNY 28 million [3] - Changguang Huaxin announced government subsidies totaling CNY 10.3768 million received from May 6, 2025, to the announcement date [3] - Furi Electronics reported H1 2025 total revenue of CNY 5.333 billion, a year-on-year increase of 0.42%, with net profit increasing by 123.62% to CNY 22 million [3] - Longli Technology received a patent for an injection mold that enhances OLED module strength and reliability [3] Overseas News - Skywater Technology completed a significant acquisition of a semiconductor factory in Texas for $93 million to boost domestic semiconductor manufacturing capacity [4] - AMD's CEO Lisa Su noted positive signals across all products and progress in obtaining U.S. government approval for market exports [4] - OpenAI released its most powerful AI model, GPT-5, which reportedly has a 45% lower chance of factual errors compared to GPT-4 [4] - A UK startup is focusing on developing next-generation wide bandgap semiconductor materials and devices, aiming to launch prototypes in the next 2-3 years [4]