Buyback Overview - On February 6, 2024, the company approved a share buyback plan using its own funds, with a total buyback amount not less than 50 million and not exceeding 100 million yuan, at a price not exceeding 7.5 yuan per share [1] - The buyback period is set to end on May 7, 2024, with a total of 11.2432 million shares repurchased, accounting for 1.77% of the total share capital, with a total transaction amount of 60.5127 million yuan and an average price of 5.38 yuan per share [1] Reduction Plan and Initial Reduction Details - On August 4, 2025, the company approved a plan to reduce its repurchased shares, intending to reduce no more than 6.3576 million shares, which is up to 1% of the total share capital, during the period from August 27, 2025, to November 27, 2025 [2] - On August 27, 2025, the company executed its first reduction, selling 917,500 shares, which is 0.14% of the total share capital, generating total proceeds of 7.8325 million yuan, with a maximum price of 8.57 yuan per share and an average price of 8.54 yuan per share [2]

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。 北京雪迪龙科技股份有限公司（以下简称"公司"）于2025年8月4日召开第五 届董事会第二十次会议，审议通过了《关于回购股份集中竞价减持计划的议案》， 根据公司于2024年2月7日披露的《关于回购公司股份方案的公告》（公告号：2024-006） 和《回购报告书》（公告号：2024-007）中的回购股份用途约定，同意公司以集中 竞价交易方式减持部分已回购股份，拟减持数量不超过6,357,609股，即不超过公司 总股本1%，减持期间为自减持计划公告发布之日起15个交易日之后三个月内（即 2025年8月27日至2025年11月27日，根据中国证监会及深圳证券交易所相关规定禁止 减持的期间除外），减持价格根据减持时的二级市场价格确定。具体内容详见公司 于2025年8月5日在《证券时报》和巨潮资讯网(http://www.cninfo.com.cn)发布的《关 于回购股份集中竞价减持计划的公告》（公告号：2025-031）。 证券代码：002658 证券简称：雪迪龙 公告号：2025-039 北京雪迪龙科技股份有限公司 关于 ...

Core Viewpoint - The company demonstrated steady revenue growth and significant improvement in profitability during the first half of 2025, with net profit growth outpacing revenue growth, indicating enhanced operational efficiency [2] Financial Performance - In the first half of 2025, the company achieved operating revenue of 596 million yuan, a year-on-year increase of 4% [1] - The net profit attributable to shareholders reached 61.97 million yuan, reflecting a year-on-year growth of 26% [1] - The net profit after deducting non-recurring items was 50.73 million yuan, up 37% year-on-year [1] Profitability Improvement - The growth in net profit (25.51%) exceeded the revenue growth rate (3.70%), highlighting improved profitability [2] - Cost control measures led to a decrease in sales and management expenses by 2.27% and 8.22% respectively [2] - The optimization of product structure contributed to a 1.18 percentage point increase in gross margin, with the industrial process analysis system business revenue growing by 19.17% [2] - Improvement in asset quality resulted in a positive contribution to profits, with credit impairment losses shifting from -7.38 million yuan in the previous year to 2.91 million yuan this period [2] Strategic Initiatives - The company is positioning its carbon monitoring business as a "second growth engine," developing an integrated solution for carbon emission monitoring and management [3] - The expansion of the national carbon market and mandatory installation policies in industries like thermal power and steel are expected to accelerate market growth [3] - The company is capitalizing on domestic substitution opportunities in high-end manufacturing, with successful applications in advanced fields such as semiconductor gas purity detection and nuclear power gas analysis [3] Operational Strategy - The company has optimized its operational strategy by focusing on cash flow-positive industrial enterprises (To B) while strategically managing longer payment cycles in government contracts (To G) [4] - It has established R&D centers in Beijing, the UK, and Belgium, leveraging five core technologies to support international market expansion [4] - The development of data collection and IoT platforms aims to transform environmental monitoring data into a commercial asset, potentially opening new business growth avenues [4] Earnings Forecast - Projected operating revenues for 2025-2027 are 1.527 billion, 1.682 billion, and 1.869 billion yuan, with year-on-year growth rates of 7.53%, 10.11%, and 11.17% respectively [5] - Expected net profits for the same period are 224 million, 241 million, and 267 million yuan, with growth rates of 33.15%, 7.34%, and 10.82% respectively [5] - Corresponding PE ratios based on the closing price on August 22, 2025, are projected to be 23.97, 22.33, and 20.15 [5]

Investment Rating - The report does not specify a current investment rating for the company [1]. Core Insights - The company reported a total revenue of 596 million yuan for H1 2025, representing a year-on-year growth of 3.7%. The net profit attributable to shareholders was 62 million yuan, up 25.5% year-on-year, and the non-recurring net profit was 51 million yuan, reflecting a growth of 37.27% [1]. - The company is positioned to benefit from the accelerating demand in the carbon monitoring and measurement market, following the Ministry of Ecology and Environment's announcement to include steel, cement, and aluminum industries in the national carbon emissions trading market [4]. - The company has been actively developing scientific instruments, including mass spectrometers, chromatographs, and portable instruments, with a strong focus on R&D, investing around 100 million yuan annually [4]. Financial Performance - For H1 2025, the company's main business segments generated revenues of 471 million yuan from ecological environment monitoring systems and 84 million yuan from industrial process analysis systems, with year-on-year growth rates of 2.15% and 19.17%, respectively [4]. - The gross margin for the instrument industry was 43.93%, an increase of 1.18 percentage points year-on-year, with specific margins for ecological environment monitoring systems and industrial process analysis systems at 44.42% and 41.16%, respectively [4]. - The company forecasts revenues of 1.491 billion yuan, 1.690 billion yuan, and 1.878 billion yuan for 2025, 2026, and 2027, with growth rates of 5.0%, 13.4%, and 11.1% respectively [6]. Market Outlook - The carbon monitoring and measurement market is expected to accelerate, driven by the expansion of the national carbon emissions trading market and the development of carbon peak and carbon neutrality standards [4]. - The company has established three R&D centers in Beijing, the UK, and Belgium, focusing on five core technologies, which enhances its ability to shorten the R&D cycle and commercialize results effectively [4].

Core Viewpoint - The recent financial report of Xuedilong (002658) shows a moderate increase in revenue and a significant rise in net profit, indicating improved profitability despite a slight decline in quarterly revenue [1] Financial Performance Summary - Total revenue for the first half of 2025 reached 596 million yuan, a year-on-year increase of 3.7% [1] - Net profit attributable to shareholders was 61.97 million yuan, up 25.51% year-on-year [1] - Gross margin improved to 42.28%, reflecting a 3.05% increase compared to the previous year [1] - Net margin increased to 10.43%, showing a year-on-year growth of 21.63% [1] - Total expenses (selling, administrative, and financial) amounted to 137 million yuan, accounting for 23.0% of revenue, a decrease of 7.84% year-on-year [1] Cash Flow and Financial Position - Cash and cash equivalents decreased by 14.71% to 601 million yuan [1] - Accounts receivable increased by 3.78% to 540 million yuan [1] - Interest-bearing debt rose significantly by 65.27% to 6.97 million yuan [1] - The net cash flow from financing activities increased by 39.01%, attributed to reduced dividend payments compared to the previous year [3] Operational Insights - The company's return on invested capital (ROIC) was 5.82%, indicating average capital returns [4] - The net profit margin for the previous year was 11.94%, suggesting average value addition from products or services [4] - The company relies heavily on marketing-driven performance, necessitating further analysis of the underlying drivers [4] - The accounts receivable situation is concerning, with accounts receivable to profit ratio reaching 320.26% [4]

Group 1 - The company reported a revenue of 596 million yuan, representing a year-on-year growth of 3.70%, and a net profit attributable to shareholders of 61.97 million yuan, with a year-on-year increase of 25.51% [2] - The company focuses on environmental monitoring, carbon monitoring and measurement, and industrial process analysis, providing a comprehensive solution of "intelligent equipment + smart operation + digital application" to support environmental quality improvement and the achievement of carbon neutrality goals [2] - The industry environment is favorable, with accelerated construction of a modern industrial system and digital China, leading to new opportunities for the instrument and meter industry as digital technology integrates with the real economy [2] Group 2 - In the second half of 2025, the company will continue to implement its business strategy of "deepening customer value and achieving high-quality development," focusing on profit and optimizing resource allocation [3] - The company aims to consolidate its core competitiveness by leveraging its rich product reserves and market presence in the analysis instrument market and ecological environment monitoring industry [2] - The company has established five core technology platforms and two basic software platforms, continuously engaging in technological research and innovation to meet market demands [2]

2025年8月22日，雪迪龙(002658.SZ)发布2025年中报。 公司营业总收入为5.96亿元，较去年同报告期营业总收入增加2127.83万元，同比较去年同期上涨 3.70%。归母净利润为6197.41万元，较去年同报告期归母净利润增加1259.46万元，同比较去年同期上 涨25.51%。经营活动现金净流入为6105.78万元。 公司最新资产负债率为13.79%，较去年同期资产负债率减少0.74个百分点。 公司最新毛利率为42.28%，较上季度毛利率增加2.89个百分点，较去年同期毛利率增加1.25个百分点。 最新ROE为2.48%，较去年同期ROE增加0.48个百分点。 公司摊薄每股收益为0.10元，较去年同报告期摊薄每股收益增加0.02元，同比较去年同期上涨25.00%。 公司最新总资产周转率为0.20次，较去年同期总资产周转率增加0.01次，实现2年连续上涨，同比较去年 同期上涨5.47%。最新存货周转率为0.82次，较去年同期存货周转率增加0.09次，实现5年连续上涨，同 比较去年同期上涨12.85%。 公司股东户数为3.55万户，前十大股东持股数量为4.01亿股，占总股本比例为63.03%，前 ...

Group 1 - The latest stock price of Xuedilong is 8.60 yuan, an increase of 0.35 yuan from the previous trading day, with a highest intraday price of 8.62 yuan and a lowest of 8.23 yuan, and a trading volume of 502,360 hands, amounting to 426 million yuan [1] - Xuedilong operates in the instrumentation industry, focusing on the research, production, and sales of environmental monitoring equipment, with 92.99% of the company's revenue from instrumentation in the first half of 2025 [1] - On August 21, the company held its 21st meeting of the fifth board of directors, approving the proposal to convene the first extraordinary shareholders' meeting of 2025, and the supervisory board also approved several proposals including the half-year report for 2025 [1] Group 2 - On the same day, the net inflow of main funds was 54.30 million yuan, with a cumulative net inflow of 38.02 million yuan over the past five trading days [2]

2025年1至6月份，雪迪龙的营业收入构成为：仪器仪表占比92.99%，其他占比7.01%。 （文章来源：每日经济新闻） 雪迪龙（SZ 002658，收盘价：8.6元）8月21日晚间发布公告称，公司第五届第二十一次董事会会议于 2025年8月21日在公司会议室，以远程视频与现场会议结合的方式召开。会议审议了《关于召开公司 2025年第一次临时股东会的议案》等文件。 ...

证券日报网讯 8月21日晚间，雪迪龙发布公告称，公司第五届监事会第二十次会议审议通过了《2025年 半年度报告全文及其摘要的议案》等多项议案。 （文章来源：证券日报） ...