Group 1 - The core point of the article is that Dasin Intelligent (002421.SZ) reported a significant decline in revenue and incurred a net loss in the first three quarters of 2025 [1] Group 2 - The company achieved an operating income of 1.473 billion yuan, representing a year-on-year decrease of 31.36% [1] - The net loss attributable to shareholders of the listed company was 415 million yuan [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 161 million yuan [1]

Core Insights - Shenzhen Das Intelligent Co., Ltd. reported a significant decline in revenue and a net loss for the third quarter of 2025, indicating ongoing challenges in its traditional business operations [1][2] - The company is undergoing a strategic transformation, focusing on the commercialization of its AIoT platform, which is expected to drive future growth [2] Financial Performance - For the year-to-date period, the company achieved approximately 1.473 billion yuan in revenue, a year-on-year decrease of 31.36% [1] - The net profit attributable to shareholders was a loss of 415 million yuan [1] Management Changes - A new management team has been appointed, with Su Junfeng taking over as General Manager on September 2, 2025, aiming to enhance internal governance and strategic implementation [1] - The new team has clear divisions of responsibility, with daily operations managed by the General Manager and the board focusing on strategic direction and major decisions [1] AIoT Platform Development - The AIoT platform has shown initial commercial success, generating related revenue of 19.35 million yuan in the first three quarters, a year-on-year increase of 1.65% [2] - The signed contract amount for the AIoT platform reached 37.81 million yuan, reflecting a substantial year-on-year growth of 102.9% [2] - The platform has been deployed in several key projects, including a commercial bank and factories for BYD and Longi Green Energy, demonstrating strong brand effect and replicability [2] Future Outlook - The company plans to increase investment in AIoT platform research and development, aiming to apply a "generative AI + real-time data" dual-engine architecture across various sectors such as smart space, smart energy, and smart transportation [2] - As the revenue share from the AIoT business increases, it is expected to become a core driver of the company's future performance rebound [2]

Group 1 - The core viewpoint of the article highlights the financial performance of Dasan Intelligent (SZ 002421), which reported a significant decline in revenue and a net loss for the third quarter of 2025 [1] Group 2 - Dasan Intelligent's revenue for the first three quarters of 2025 was approximately 1.473 billion yuan, representing a year-on-year decrease of 31.36% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 415 million yuan [1] - The basic earnings per share showed a loss of 0.1956 yuan [1] - As of the report, Dasan Intelligent's market capitalization stood at 7 billion yuan [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥482,846,096.59, a decrease of 39.13% compared to the same period last year[5] - The net profit attributable to shareholders was -¥325,924,188.24, representing a decline of 942.64% year-on-year[5] - Basic and diluted earnings per share were both -¥0.1537, a decrease of 944.51% year-on-year[5] - The company's operating revenue for the reporting period was CNY 1,473,076,989.83, a decrease of 31.36% compared to CNY 2,146,036,825.96 in the same period last year[13] - The net profit attributable to shareholders was -415 million RMB, primarily due to asset disposal losses and debt restructuring losses[20] - The net profit for the current period was a loss of ¥425,849,092.26, compared to a profit of ¥46,743,679.34 in the previous period[29] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥387,541,745.02, down 31.17% compared to the previous year[5] - The company’s cash flow from financing activities increased by 307.10% to CNY 79,384,095.86, driven by loans received from shareholders[14] - The company’s cash received from operating activities decreased by 81.81% to CNY 5,054,377.93, compared to CNY 27,789,440.68 in the previous year[14] - Cash paid for debt repayment was CNY 447,706,000.00, reflecting a normal repayment of due borrowings[14] - Cash inflow from operating activities totaled $1,816,794,641.99, a decrease of 17.5% from $2,204,237,235.38 in the previous period[32] - Cash outflow from operating activities was $2,204,336,387.01, down 11.8% from $2,499,689,396.76 in the prior period[32] - The ending cash and cash equivalents balance was $790,397,399.59, down 29.7% from $1,123,452,916.86 in the previous period[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,475,633,454.67, a reduction of 22.42% from the end of the previous year[5] - The company's total assets decreased to ¥7,475,633,454.67 from ¥9,636,207,465.82, reflecting a decline of 22.4%[26] - Total liabilities decreased to ¥4,476,573,933.38 from ¥6,074,323,188.98, a reduction of 26.3%[25] - The equity attributable to shareholders of the parent company decreased to ¥2,970,304,230.30 from ¥3,395,705,743.19, a decline of 12.5%[26] - The asset-liability ratio decreased from 63.04% at the beginning of the period to 59.88%[21] Investments and Expenses - The company reported a significant loss of ¥126,332,559.09 from the disposal of non-current assets, primarily due to investment losses from the disposal of Hongze Lake Dashi equity[7] - Investment losses were reported at CNY -129,660,335.86, a significant drop of 2249.44% from CNY -5,518,785.85 in the previous year, primarily due to the disposal of equity in Hongze Lake Dashi[13] - Research and development expenses decreased by 41.32% to CNY 44,105,069.44 from CNY 75,166,538.36 year-on-year, attributed to nearing completion of R&D projects[13] - The company reported a significant increase in financial expenses, totaling ¥39,110,268.83, compared to ¥48,302,500.60 in the previous period[29] Project and Shareholder Information - The total amount of signed and awarded projects during the reporting period was 2.19 billion RMB, down 5.64% from 2.32 billion RMB year-on-year[20] - The company achieved AIoT platform product revenue of 19.35 million RMB, with a signed amount increasing by 102.9% to 37.81 million RMB compared to the previous year[21] - The number of common shareholders at the end of the reporting period was 129,542[17] - The largest shareholder, Changdu Shida Enterprise Management (Group) Co., Ltd., holds 12.78% of the shares, amounting to 270,966,881 shares[17]

Core Viewpoint - The stock of Dasin Intelligent has experienced a decline, with a current price of 3.29 CNY per share, reflecting a year-to-date drop of 3.94% and a significant decrease in revenue and profit for the first half of 2025 [1][2]. Company Overview - Dasin Intelligent, established on March 17, 1995, and listed on June 3, 2010, is based in Shenzhen, Guangdong Province. The company specializes in building intelligence and energy-saving services, as well as green building public engineering, industrial automation, and the development, production, and sales of IC card reading and writing devices [1]. - The main business revenue composition includes: 79.25% from smart space overall solutions, 12.60% from smart space products and technical services, and 8.15% from smart space operation services and other businesses [1]. Financial Performance - For the first half of 2025, Dasin Intelligent reported a revenue of 990 million CNY, a year-on-year decrease of 26.80%. The net profit attributable to the parent company was -88.76 million CNY, a significant decline of 1053.51% compared to the previous year [2]. - Since its A-share listing, the company has distributed a total of 540 million CNY in dividends, with 180 million CNY distributed over the past three years [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Dasin Intelligent was 119,600, a decrease of 4.20% from the previous period. The average circulating shares per person increased by 4.39% to 16,781 shares [2]. - The top ten circulating shareholders include Southern CSI 1000 ETF, which holds 19.64 million shares, an increase of 3.76 million shares from the previous period. Other notable shareholders include Hong Kong Central Clearing Limited and Huaxia CSI 1000 ETF, with varying changes in their holdings [2].

证券代码：002421 证券简称：达实智能 公告编号：2025-099 深圳达实智能股份有限公司 关于持股 5%以上股东减持股份触及 1%整数倍的公告 | 1．基本情况 | | | | | | --- | --- | --- | --- | --- | | 信息披露义务人 | 刘磅 | | | | | 住所 | | 广东省深圳市福田区 | | | | 权益变动时间 | 2025 | 年 10 月 20 | 日-2025 年 10 月 | 23 日 | | 权益变动过程 | | 通过集中竞价及大宗交易方式累计减持公司股份合计 15,628,050 | 股，累计权益变动比例为 | 0.74%。 | | 股票简 称 | 达实智能 | | 股票代码 | 002421 | | 变动方 向 | 上升□ | 下降 | 一致行动人 | 有 无□ | | 是否为第一大股东或实际控制人 | | | 是 | 否□ | | 2．本次权益变动情况 | | | | | | 股份种类 | | 减持变动股数（万股） | | 减持变动比例（%） | | A 股 | | | 1,562.81 | 0.74 | | 合 计 | | | 1, ...

Core Insights - On October 23, 2023, Dashi Intelligent's stock rose by 1.51%, with a trading volume of 151 million yuan [1] - The company reported a net financing purchase of 6.69 million yuan for the same day, with a total financing and securities balance of 439 million yuan [1][2] Financing Summary - Dashi Intelligent had a financing purchase of 23.47 million yuan on October 23, 2023, with a current financing balance of 437 million yuan, representing 6.14% of its market capitalization [1] - The financing balance is below the 40th percentile level over the past year, indicating a relatively low position [1] - On the same day, the company repaid 800 shares of securities and sold 7,800 shares, with a selling amount of 26,200 yuan [1] Company Overview - Dashi Intelligent, established on March 17, 1995, and listed on June 3, 2010, is based in Shenzhen, Guangdong Province [2] - The company specializes in building intelligence and energy-saving services, contributing 79.25% of its revenue from smart space solutions, 12.60% from products and technical services, and 8.15% from operational services [2] - As of June 30, 2023, the company had 119,600 shareholders, a decrease of 4.20% from the previous period [2] Financial Performance - For the first half of 2023, Dashi Intelligent reported a revenue of 990 million yuan, a year-on-year decrease of 26.80%, and a net profit attributable to shareholders of -88.76 million yuan, a decline of 1053.51% [2] Dividend Information - Since its A-share listing, Dashi Intelligent has distributed a total of 540 million yuan in dividends, with 180 million yuan distributed over the past three years [3] Institutional Holdings - As of June 30, 2023, the top ten circulating shareholders included Southern CSI 1000 ETF, which increased its holdings by 3.76 million shares to 19.64 million shares [3] - Hong Kong Central Clearing Limited reduced its holdings by 5.59 million shares to 16.49 million shares [3] - Other ETFs, such as Huaxia CSI 1000 ETF and GF CSI 1000 ETF, also increased their holdings [3]

Core Points - The company, Dash Intelligent, has signed a project contract with Shanghai Construction Group and China State Construction Engineering Corporation for the production and R&D base project in Jiading District, Shanghai [2] Summary by Category - **Contract Details** - The total contract amount is 38.3295 million yuan [2]

Core Points - The company, Dash Intelligent (002421.SZ), has signed a project contract with Shanghai Construction Group and China State Construction Engineering Corporation for the production and R&D base project in Jiading District, Shanghai [1] - The total contract amount is 38.3295 million yuan [1] Company Summary - Dash Intelligent has reached an agreement with major construction firms for a significant project, indicating potential growth and collaboration opportunities in the industry [1] - The contract value reflects the company's engagement in substantial projects, which may enhance its market position and operational capacity [1]

Core Points - The company, Dashijizhineng (002421.SZ), has signed a project contract with Shanghai Construction Group and China State Construction Engineering Corporation for the production and R&D base project in Jiading District, Shanghai [1] - The total contract amount is 38.3295 million yuan [1] Company Summary - Dashijizhineng has reached an agreement with major construction firms for a significant project, indicating potential growth and collaboration opportunities in the industry [1] - The contract value reflects the company's engagement in substantial projects, which may enhance its market position and operational capabilities [1]