Core Viewpoint - The financial performance of Wantong Technology (002331) for the first half of 2025 shows significant declines in revenue and net profit, indicating potential challenges in the company's operations and financial health [1]. Financial Performance Summary - Total revenue for the first half of 2025 was 324 million yuan, a decrease of 5.66% compared to the same period in 2024 [1]. - The net profit attributable to shareholders was -37.44 million yuan, representing a decline of 409.89% year-on-year [1]. - In Q2 2025, total revenue was 192 million yuan, down 1.99% year-on-year, with a net profit of -21.86 million yuan, a decrease of 1947.19% [1]. - The gross margin was 23.27%, down 17.52% year-on-year, while the net margin was -13.03%, a decrease of 287.87% [1]. - Total expenses (selling, administrative, and financial) amounted to 80.90 million yuan, accounting for 24.96% of revenue, an increase of 18.43% year-on-year [1]. Balance Sheet and Cash Flow Summary - Cash and cash equivalents decreased by 21.21% due to payments for goods and investments in financial products [3]. - Accounts receivable increased by 15.15%, reaching 881 million yuan, with accounts receivable to net profit ratio at 2386.38% [1][5]. - The company reported a significant increase in other current assets by 127.6%, attributed to an increase in unrecoverable input tax [3]. - The net cash flow from operating activities has been negative for the past three years, with an average cash flow to current liabilities ratio of -0.93% [5]. Business Evaluation - The company's return on invested capital (ROIC) was 2.33% last year, indicating weak capital returns, with a historical median ROIC of 3.91% over the past decade [4]. - The company has experienced four years of losses since its listing, suggesting a lack of investor interest in companies with such performance metrics [4]. - The business model relies heavily on research and marketing, necessitating a thorough examination of the underlying drivers of these operations [4].

Group 1 - The stock price of Wantong Technology is reported at 9.06 yuan as of August 19, 2025, with a decrease of 0.04 yuan, representing a decline of 0.44% from the previous trading day [1] - The company’s main business includes system integration, technical services, technology transfer, and product sales, primarily in industries such as highways, smart environmental protection, port shipping, urban intelligent transportation, and smart security [1] - In the first half of 2025, the highway business accounted for 48.31% of total revenue, smart environmental protection for 19.28%, and port shipping for 18.17% [1] Group 2 - The company recently announced the approval of its 2025 semi-annual report and the initiation of foreign exchange hedging by its wholly-owned subsidiary [1] - The semi-annual report for 2025 shows total operating revenue of 324 million yuan, a year-on-year decrease of 5.66%, and a net loss attributable to shareholders of 37.44 million yuan, which is an increase in loss compared to the same period last year [1] - In the first half of 2025, the company made a credit impairment provision of approximately 11.36 million yuan, reducing the net profit attributable to shareholders by about 7.01 million yuan [1] Group 3 - On August 19, 2025, the net outflow of main funds for Wantong Technology was 34.82 million yuan, accounting for 0.97% of the circulating market value [1] - Over the past five days, the cumulative net outflow of main funds reached 98.16 million yuan, representing 2.74% of the circulating market value [1]

Core Viewpoint - Anhui Wantong Technology Co., Ltd. announced the approval of its 2025 semi-annual report and summary by the board of directors during the 36th meeting of the sixth board session [2] Group 1 - The company held its 36th meeting of the sixth board session on August 19 [2] - Multiple proposals were reviewed and approved, including the semi-annual report for 2025 [2]

Core Viewpoint - Wantuo Technology announced the approval of its wholly-owned subsidiary, Yantai Huadong Electronic Software Technology Co., Ltd., to engage in foreign exchange hedging and swap business to mitigate exchange rate risks [1] Group 1 - The board meeting for Wantuo Technology is scheduled for August 18, 2025, to review the proposal for foreign exchange hedging [1] - The foreign exchange swap business will be conducted with banks and financial institutions, based on normal production operations and following a prudent approach [1] - The maximum contract value held on any trading day will not exceed RMB 36 million (or equivalent foreign currency), and the authorization can be reused within the specified period [1]

Core Viewpoint - The company reported a significant decline in both revenue and net profit for the first half of 2025, attributed to various factors including cash flow issues and impairment provisions [1][6]. Financial Performance - The company's operating revenue for the reporting period was CNY 324,099,377.81, a decrease of 5.66% compared to the same period last year [1][6]. - The net profit attributable to shareholders decreased by 409.89%, resulting in a loss of CNY 138,888,478.16 [1][6]. - The net cash flow from operating activities was negative, amounting to CNY -145,115,001.21 [1]. - Basic and diluted earnings per share were both CNY -0.0179, reflecting a decline of 400.56% [1]. Asset and Equity Position - Total assets at the end of the reporting period were CNY 3,000,303,853.61, down 2.93% from the previous year [1]. - The net assets attributable to shareholders were CNY 1,683,715,379.83, a decrease of 1.91% compared to the end of the previous year [1]. Key Events and Challenges - The company implemented a restricted stock incentive plan, incurring stock incentive expenses of approximately CNY 16.38 million [6]. - A subsidiary faced cash flow constraints due to delayed payments from downstream customers, impacting both revenue and net profit [6]. - The company made impairment provisions for certain assets based on prudence, which further reduced the current period's profit [6].

证券代码：002331 证券简称：皖通科技 公告编号：2025-042 安徽皖通科技股份有限公司 第六届董事会第三十六次会议决议公告 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。 一、董事会会议召开情况 安徽皖通科技股份有限公司（以下简称"公司"）第六届董事会 第三十六次会议于 2025 年 8 月 18 日以现场和通讯相结合的方式在公 司会议室召开。本次会议的通知及会议资料已于 2025 年 8 月 8 日以 纸质文件及电子邮件形式送达各位董事。本次会议应到董事 9 人，实 到董事 9 人，其中杨洋先生、帅红梅女士、毛志苗先生、杨波先生、 许年行先生、张桂森先生、王忠诚先生以通讯方式出席会议，会议由 公司董事长陈翔炜先生主持，公司部分高级管理人员列席了本次会议。 本次会议符合法律法规及《公司章程》的有关规定。 二、董事会会议审议情况 摘要》 公司第六届董事会审计委员会于 2025 年 8 月 18 日召开 2025 年 第四次会议，全票审议通过了《关于 2025 年半年度报告及摘要的议 案》，审计委员会对公司 2025 年半年度财务会计报告及财务信息无 异 ...

（文章来源：每日经济新闻） 皖通科技（SZ 002331，收盘价：9.06元）8月19日晚间发布半年度业绩报告称，2025年上半年营业收入 约3.24亿元，同比减少5.66%；归属于上市公司股东的净利润亏损约3744万元；基本每股收益亏损 0.0896元。2024年同期营业收入约3.44亿元；归属于上市公司股东的净利润亏损约734万元；基本每股收 益亏损0.0179元。 ...

皖通科技（SZ 002331，收盘价：9.06元）8月19日晚间发布公告称，2025年上半年，公司对应收票据、 应收账款、其他应收款计提坏账准备，累计计提信用减值准备约1136万元，该项信用减值损失计入公司 2025年半年度损益，考虑所得税及少数股东损益的影响，相应减少了公司2025年半年度归属于上市公司 股东的净利润约701万元。本次计提信用减值准备事宜不会对公司的正常经营产生重大影响。 2025年1至6月份，皖通科技的营业收入构成为：高速公路占比48.31%，智慧环保占比19.28%，港口航 运占比18.17%，城市智能交通占比9.68%，智能安防占比2.96%。 （文章来源：每日经济新闻） ...

第一章 总 则 第一条 为规范安徽皖通科技股份有限公司（以下简称"公司"）对外提供 财务资助行为，防范财务风险，确保公司经营稳健，根据《中华人民共和国公司 法》《中华人民共和国证券法》《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引第1号——主板上市公司规范运作》和 《公司章程》 等法律、法规和规章，特制定本制度。 第二条 本制度所称对外提供财务资助，是指公司及其控股子公司有偿或者 无偿对外提供资金、委托贷款等行为，但下列情况除外： （一）提供财务资助属于公司的主营业务； 安徽皖通科技股份有限公司 对外提供财务资助管理制度（2025 年 8 月） （二）资助对象为公司合并报表范围内的、持股比例超过50%的控股子公司， 且该控股子公司其他股东中不包含上市公司的控股股东、实际控制人及其关联人。 （三）中国证监会或者深圳证券交易所认定的其他情形。 第二章 对外提供财务资助的审批程序 第三条 公司及控股子公司原则上不主动对外提供财务资助（相互提供财务 资助除外），确需对外提供财务资助的，应先由被财务资助企业提出申请。 第四条 拟接受被财务资助企业申请的，或拟主动对外提供财务资助的，均 应征得董事长 ...

安徽皖通科技股份有限公司 董事和高级管理人员所持公司股份及其变动管理制度 （2025 年 8 月） 第一章 总则 第一条 为加强安徽皖通科技股份有限公司（以下简称"公司"）董事和高 级管理人员所持本公司股份及其变动的管理，进一步明确办理程序，根据《中华 人民共和国公司法》《中华人民共和国证券法》《上市公司董事和高级管理人员 所持本公司股份及其变动管理规则》《深圳证券交易所上市公司自律监管指引第 10号——股份变动管理》《深圳证券交易所上市公司自律监管指引第18号——股 东及董事、高级管理人员减持股份》等法律、法规、规范性文件以及《公司章程》 的有关规定，结合公司的实际情况，特制定本制度。 第二条 公司董事、高级管理人员在买卖公司股票及其衍生品种前，应知悉 《中华人民共和国公司法》《中华人民共和国证券法》等法律、法规关于内幕交 易、操纵市场等禁止行为的规定，不得进行违法违规的交易。 公司董事和高级管理人员就其所持股份变动相关事项作出承诺的，应当严格 遵守。 第二章 股份的登记、锁定及解锁 第三条 公司董事、高级管理人员所持本公司股份，是指登记在其名下和利 用他人账户持有的所有本公司股份。 公司董事、高级管理人员 ...