Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company reported a main business revenue of 2.784 billion yuan in the first half of 2025, a year-on-year decrease of 5.2%, while the net profit attributable to shareholders increased by 23.7% to 237 million yuan [1][5] - Profitability improved due to effective cost and expense management, with an overall gross margin of 87.8%, up 1.1 percentage points year-on-year [1] - The digital cost business generated revenue of 2.286 billion yuan, down 7.1% year-on-year, but the decline in new cloud contracts has narrowed significantly in Q2 [1] - The digital construction business achieved revenue of 312 million yuan, growing 8.2% year-on-year, with a notable 19.5% growth in Q2 [2] - The company is fully embracing AI, with over 40 million yuan in contracts directly attributed to AI, and has developed over 80 AI products [2] Financial Forecasts - Expected revenues for 2025-2027 are 6.252 billion yuan, 6.447 billion yuan, and 6.671 billion yuan respectively, with net profits projected at 480 million yuan, 577 million yuan, and 660 million yuan [2][3] - The company anticipates a significant recovery in profitability, with net profit growth rates of 91.5% in 2025 and 20.2% in 2026 [3][10]

广联达最新一期业绩显示，截至2025中报，公司营业总收入28.00亿元、同比减少5.37%，归属净利润 2.37亿元，同比增长23.65%，扣非净利润2.14亿元，同比增长22.67%，流动比率1.256、速动比率 1.237、资产负债率35.97%。 天眼查商业履历信息显示，广联达科技股份有限公司，成立于1998年，位于北京市，是一家以从事软件 和信息技术服务业为主的企业。企业注册资本166486.9506万人民币，实缴资本6730万人民币。公司法 定代表人为袁正刚。 金融界消息 截至2025年8月25日收盘，广联达（002410）报收于13.96元，上涨0.87%，换手率3.37%， 成交量53.54万手，成交金额7.45亿元。 资金流向方面，今日主力资金净流出4309.55万元，占比成交额5.79%。其中，超大单净流入1760.80万 元、占成交额2.36%，大单净流出6070.35万元、占成交额8.15%，中单净流出流出935.78万元、占成交 额1.26%，小单净流入5245.33万元、占成交额7.04%。 通过天眼查大数据分析，广联达科技股份有限公司共对外投资了46家企业，参与招投标项目5000次 ...

计算机/软件开发 广联达（002410.SZ） 2025 年 08 月 26 日 投资评级：买入（维持） | 日期 | 2025/8/25 | | --- | --- | | 当前股价(元) | 13.96 | | 一年最高最低(元) | 16.25/8.81 | | 总市值(亿元) | 230.61 | | 流通市值(亿元) | 221.70 | | 总股本(亿股) | 16.52 | | 流通股本(亿股) | 15.88 | | 近 3 个月换手率(%) | 114.3 | 股价走势图 -20% 0% 20% 40% 60% 80% 2024-08 2024-12 2025-04 广联达 沪深300 数据来源：聚源 相关研究报告 《Q4 业绩增速向好，成本费用管控成 效显著 — 公 司 信 息 更 新 报 告 》 -2025.3.27 《降本控费成效显现，数字成本业务 稳 健 发 展 — 公 司 信 息 更 新 报 告 》 -2024.8.25 陈宝健（分析师） 刘逍遥（分析师） chenbaojian@kysec.cn 证书编号：S0790520080001 建筑信息化龙头，维持"买入"评级 我们维持公 ...

Group 1 - The core viewpoint of the news highlights the active performance of the big data industry, particularly in the data security sector, driven by the upcoming China International Big Data Industry Expo [1][3] - The China International Big Data Industry Expo will take place from August 28 to 30, featuring 375 companies including major players like Huawei and Baidu, showcasing advancements in digital infrastructure, AI models, data security, and smart terminals [3] - The big data industry is characterized by its large capacity, diverse types, rapid speed, high precision, and significant value, serving as a crucial driver for new industrialization [3] Group 2 - The Chinese government has implemented several policies to support the development of the big data industry, including the "14th Five-Year" plans and the "Data Element x" three-year action plan, providing strong policy backing for growth [3] - According to research from the National Data Development Research Institute, the number of data enterprises in China is expected to exceed 400,000 by 2024, with the industry scale reaching 5.86 trillion yuan, representing a 117% increase from the end of the 13th Five-Year Plan [3] - Long-term growth in the big data sector is anticipated, with significant improvements in model computing power and algorithm capabilities, addressing the challenges of high-quality data supply [4] Group 3 - The focus on data security within the big data industry ETF (516700) is emphasized, which tracks the CSI Big Data Industry Index and invests heavily in sectors like data centers and cloud computing [5] - Key stocks in the ETF include leading companies such as Inspur Information and China Software, with a positive outlook for investments in technology self-reliance [5] - The article suggests that the current environment is conducive for breakthroughs in new productive forces, driven by top-level design for digital China and accelerated domestic substitution processes [5]

Core Viewpoint - Guanglianda Technology Co., Ltd. has shown significant improvement in key operational metrics, including net profit, gross margin, cash flow, and asset turnover efficiency in the first half of 2025, driven by strategic adjustments and AI integration [1][2][3][4]. Financial Performance - The company reported a net profit of 237 million yuan, representing a year-on-year increase of 23.65% [1]. - Gross margin improved by 1.11 percentage points to 87.79% due to a strategic shift in product mix, focusing on core high-margin products [1]. - Cash received from sales increased by 162 million yuan year-on-year, with a 19% reduction in net cash outflow from operating activities [1]. - Accounts receivable decreased by 231 million yuan compared to the same period last year, indicating improved cash flow management [1]. AI Integration and Product Development - The company has embraced AI across multiple product areas, achieving significant results in design integration, cost precision, and construction refinement [2]. - AI-driven contracts exceeded 40 million yuan, contributing to revenue growth and enhancing product competitiveness [2]. - The AI and BIM technology integration in the road quantity calculation product led to a 68.49% year-on-year revenue increase [2]. Business Transformation and Market Expansion - The company is actively expanding its application scenarios for pricing and quantity products, focusing on urban renewal and municipal projects [3]. - The construction business has shown a turnaround with a 19.49% year-on-year revenue growth in the second quarter, supported by a shift towards standardized project-level products [3]. - The gross margin for the construction business rose to 52.01%, an increase of 26.03 percentage points compared to the same period last year [3]. International Business Development - The company has established a strong presence in overseas markets, particularly in Asia and Europe, with a dedicated customer department in Hong Kong [4]. - International revenue reached 64.75 million yuan in the second quarter, a year-on-year increase of 21.62%, reversing the decline seen in the first quarter [4]. - The customer renewal rate in the Asian region improved significantly, with a more than 10 percentage point increase in the second quarter compared to the first [4]. Future Outlook - The company aims to continue advancing its strategic initiatives in design integration, cost precision, construction refinement, and global expansion in the second half of 2025 [4].

2025年8月26日，广联达(002410.SZ)发布2025年中报。 公司营业总收入为28.00亿元。归母净利润为2.37亿元，较去年同报告期归母净利润增加4536.62万元， 同比较去年同期上涨23.65%。经营活动现金净流入为-5.54亿元，较去年同报告期经营活动现金净流入 增加1.30亿元，实现2年连续上涨。 公司最新资产负债率为35.97%。 公司股东户数为9.00万户，前十大股东持股数量为7.93亿股，占总股本比例为48.03%，前十大股东持股 情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | 刁志中 J | | 16.11% | | 香港中央结算有限公司 2 | | 11.61% | | 陈晓红 3 | | 4.74% | | 4 王金洪 | | 4.32% | | 5 | 全国社保基金一零二组合 | 2.42% | | ଚ 浅建花 | | 2.27% | | 安景合 7 | | 1.93% | | 8 壬晓芳 | | 1.69% | | 9 | 中国农业银行股份有限公司-中证500交易型开放式指数证券投资基金 | 1.48% | | 10 | 平 ...

对于社保基金，本期较上一季度持股减少的社保基金共计1个，即全国社保基金一零二组合，，持股减 少占比达0.13%。 2025年8月26日，广联达(002410.SZ)发布2025年半年度报告。截至2025年8月25日，共有47个机构投资 者披露持有广联达A股股份，合计持股量达3.84亿股，占广联达总股本的23.24%。其中，前十大机构投 资者包括香港中央结算有限公司、全国社保基金一零二组合、中国农业银行股份有限公司-中证500交易 型开放式指数证券投资基金、平安银行股份有限公司-博时成长领航灵活配置混合型证券投资基金、嘉 实新兴产业股票、嘉实核心成长混合A、嘉实泰和混合、嘉实增长混合、嘉实远见精选两年持有期混 合、华安中小盘成长混合，前十大机构投资者合计持股比例达20.72%。相较于上一季度，前十大机构 持股比例合计下跌了0.93个百分点。 公募基金方面，本期较上一期持股增加的公募基金共计13个，主要包括南方中证500ETF、嘉实核心成 长混合A、嘉实泰和混合、华夏中证信息技术应用创新产业ETF、嘉实增长混合等，持股增加占比达 0.98%。本期较上一季度持股减少的公募基金共计9个，主要包括博时成长优势混合A、博 ...

Core Viewpoint - Guanglian Da's half-year report for 2025 shows a decrease in revenue but an increase in net profit, indicating improved operational quality and potential for future growth through AI and international expansion [1][2]. Financial Performance - The company's revenue for the first half of the year was 2.784 billion yuan, a year-on-year decrease of 5.23% [1]. - Net profit attributable to shareholders was 237 million yuan, a year-on-year increase of 23.65% [1]. - Basic earnings per share were 0.1442 yuan, reflecting a growth of 23.67% year-on-year [1]. - Gross margin improved by 1.11 percentage points to 87.79% due to adjustments in product structure [2]. - Cash flow from operating activities saw a net outflow reduction of 19% year-on-year, with cash received from sales increasing by 162 million yuan [2]. Business Segment Analysis - Digital construction, digital design, and overseas business accounted for 16.49% of total revenue, an increase of nearly 2 percentage points [2]. - Digital cost business revenue was 2.286 billion yuan, down 7.06% year-on-year, primarily due to a decrease in revenue from previously signed cloud contracts [2]. - Digital construction revenue increased by 8.21% to 312 million yuan [2]. - Digital design revenue decreased by 13.11% to 31 million yuan [2]. - Overseas business revenue grew by 9.62% to 116 million yuan [2]. Operational Improvements - The company has seen a comprehensive improvement in key operational metrics, including net profit, gross margin, cash flow, and asset turnover efficiency [2]. - The digital construction business has shown signs of recovery, with a 19.49% year-on-year revenue growth in the second quarter [3]. - The gross margin for the construction business rose to 52.01%, an increase of 26.03 percentage points compared to the same period last year [3]. AI and International Expansion - AI has become a significant growth driver, with over 4,000 AI service calls and 143 billion tokens consumed in model service [5]. - AI directly contributed over 40 million yuan in contract amounts, enhancing product competitiveness and revenue growth [5]. - The company is focusing on international market development, with a 21.62% year-on-year revenue increase in the second quarter [6]. - The renewal rate for Asian clients improved significantly, indicating growing market acceptance [6]. Future Outlook - The company plans to continue advancing its strategic initiatives in design integration, cost precision, construction refinement, and globalization in the second half of the year [6].

报告期内，公司实现营业收入27.84亿元，同比下降5.23%，收入结构拓宽，数字施工、数字设计及海外 业务占营业收入的比重提升近2个百分点，达16.49%。具体分业务来看，数字成本业务实现营业收入 22.86亿元，同比减少7.06%，收入的变动超60%是由于前期签订云合同分期结转的收入减少所致，第二 季度新签云合同降幅已明显收窄;数字施工业务实现营业收入3.12亿元，同比增加8.21%;数字设计业务实 现营业收入0.31亿元，同比减少13.11%;海外业务实现营业收入1.16亿元，同比增加9.62%。 智通财经APP讯，广联达(002410.SZ)发布2025年半年度报告，该公司营业收入为27.84亿元，同比减少 5.23%。归属于上市公司股东的净利润为2.37亿元，同比增长23.65%。归属于上市公司股东的扣除非经 常性损益的净利润为2.14亿元，同比增长22.67%。基本每股收益为0.1442元。 ...

南财智讯8月25日电，广联达发布2025年半年度报告，报告期实现营业收入27.84亿元，同比下降 5.23%；归属上市公司股东的净利润2.37亿元，同比增长23.65%；扣除非经常性损益后的归属于上市公 司股东的净利润2.14亿元，同比增长22.67%；基本每股收益0.1442元。 ...