Core Viewpoint - Zhejiang Shibao (002703.SZ) announced that its controlling shareholder, Shibao Holdings, plans to reduce its holdings of A-shares by up to 16,452,647 shares, which represents no more than 2% of the company's total share capital, within three months starting from 15 trading days after the announcement. The reason for the reduction is the shareholder's own funding needs, and the shares are sourced from those issued prior to the company's initial public offering and from capital reserve conversion. This reduction plan will not lead to a change in the company's control or significantly impact its governance structure and ongoing operations [1]. Summary by Relevant Sections - **Share Reduction Plan** - Shibao Holdings intends to reduce its holdings by a maximum of 16,452,647 shares [1] - This reduction accounts for up to 2% of the total share capital of the company [1] - **Reason for Reduction** - The reduction is driven by the funding needs of the shareholder [1] - Shares involved are from pre-IPO issuance and capital reserve conversion [1] - **Impact on Company** - The reduction will not result in a change of control for the company [1] - There will be no significant impact on the company's governance structure or its ongoing operations [1]

证券代码：002703 证券简称：浙江世宝 公告编码：2025-036 浙江世宝股份有限公司 关于公司控股股东减持股份预披露的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 浙江世宝股份有限公司（以下简称"浙江世宝"、"公司"）于近日收到公司 控股股东浙江世宝控股集团有限公司（以下简称"世宝控股"）发来的《关于计 划减持公司股份的告知函》，世宝控股计划自本公告披露之日起 15 个交易日后的 3 个月内（即 2025 年 9 月 19 日至 2025 年 12 月 17 日，敏感期不减持）减持公 司 A 股股份合计不超过 16,452,647 股，不超过公司总股本的 2%。 现将相关情况公告如下： 一、股东基本情况 | 股东名称 | 持股数量（股） | 占公司总股本比例 | | --- | --- | --- | | 浙江世宝控股集团有限公司 | 287,110,598 | 34.90% | 应对该数量进行相应调整），拟减持股份比例不超过上市公司总股本的 2%（含）。 按照相关规定，通过大宗交易方式减持的，在任意连续 90 个自然日内，减持股 份的 ...

Core Viewpoint - Zhejiang Shibao (002703) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit, although there were some declines in profit margins and an increase in accounts receivable [1] Financial Performance Summary - Total revenue for the first half of 2025 reached 1.524 billion yuan, a year-on-year increase of 35.32% compared to 1.126 billion yuan in 2024 [1] - Net profit attributable to shareholders was 93.03 million yuan, up 39.09% from 66.89 million yuan in the previous year [1] - The second quarter alone saw total revenue of 806 million yuan, a 27.4% increase year-on-year, but net profit decreased by 1.79% to 44.30 million yuan [1] - Gross margin was 18.01%, down 8.96% from the previous year, while net margin was 6.7%, a slight decrease of 0.86% [1] - Total accounts receivable increased by 38.61%, reaching 1.181 billion yuan [1] Key Financial Metrics - Operating cash flow per share increased significantly by 484.21% to 0.11 yuan [1] - Earnings per share rose by 36.27% to 0.11 yuan [1] - The company's total liabilities with interest surged by 847.89% to 10.4 million yuan [1] - The ratio of selling, administrative, and financial expenses to revenue decreased by 15.66% to 6.33% [1] Expense Analysis - Sales expenses increased by 5.67% due to business expansion [2] - Management expenses rose by 19.23% attributed to business growth and increased employee compensation [2] - Financial expenses decreased significantly by 199.55% due to reduced interest expenses [2] Cash Flow and Asset Management - Net cash flow from operating activities increased by 484.21% due to higher cash receipts from product sales [2] - Cash flow from investing activities decreased by 28.74% due to increased cash outflows for fixed asset purchases [2] - Cash flow from financing activities dropped by 120.23% due to increased cash outflows for dividend payments [2] Business Evaluation - The company's return on invested capital (ROIC) was 9.15%, indicating average capital returns [3] - Historical data shows a median ROIC of 2.23% over the past decade, with a notable low of -12.19% in 2019 [3] - The business model relies heavily on research and development, necessitating further investigation into the underlying drivers of this growth [3] Recommendations - Attention is advised on the company's cash flow situation, with a cash ratio of 88.19% and a three-year average operating cash flow to current liabilities ratio of only 7.12% [3] - Monitoring of accounts receivable is crucial, as it has reached 791.79% of profit [3]

2025年8月27日，浙江世宝(002703.SZ)发布2025年半年度报告。截至2025年8月26日，共有6个机构投资 者披露持有浙江世宝A股股份，合计持股量达3.03亿股，占浙江世宝总股本的36.79%。其中，机构投资 者包括浙江世宝控股集团有限公司、中国建设银行股份有限公司-景顺长城研究精选股票型证券投资基 金、香港中央结算(代理人)有限公司、BARCLAYS BANK PLC、北京汐合精英私募基金管理有限公司- 汐合AI策略1号私募证券投资基金、上海粒子跃动私募基金管理有限公司-粒子希格斯5号私募证券投资 基金，机构投资者合计持股比例达36.79%。相较于上一季度，机构持股比例合计上涨了0.46个百分点。 外资态度来看，本期较上一季度新披露的外资机构有 2 家 ，包括香港中央结算(代理人)有限公司、 BARCLAYS BANK PLC。本期较上一季未再披露的外资机构即香港中央结算有限公司。 公募基金方面，本期较上一季度新披露的公募基金共计1个，即景顺长城研究精选股票A。 ...

Group 1 - The core point of the article is that Zhejiang Shibao reported significant financial growth for the first half of 2025, with a revenue of 1,524,160,127.15 yuan, representing a year-on-year increase of 35.32% [1] - The net profit attributable to shareholders of the listed company reached 93,034,442.81 yuan, marking a year-on-year growth of 39.09% [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而産生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Zhejiang Shibao Company Limited* 浙江世寶股份有限公司 （於中華人民共和國註冊成立的股份有限責任公司） （股份代號：1057） 海外監管公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為浙江 世寶股份有限公司於深圳證券交易所網站所刊發之「浙江世寶股份有限公司 2025 年半年度募 集資金存放與使用情況的專項報告」。 承董事會命 浙江世寶股份有限公司 董事長 張世權 中國•浙江•杭州 2025年8月26日 於本公告刊發日期，本公司董事會包括執行董事張寶義先生、湯浩瀚先生、張蘭君女士及周裕 先生，非執行董事張世權先生及張世忠先生，以及獨立非執行董事龔俊傑先生、閔海濤先生及 徐晋誠先生。 * 僅供識別 证券代码：002703 证券简称：浙江世宝 公告编码：2025-035 浙江世宝股份有限公司 2025 年半年度募集资金存放与使用情况的专 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而産生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Zhejiang Shibao Company Limited* 浙江世寶股份有限公司 （於中華人民共和國註冊成立的股份有限責任公司） （股份代號：1057） 海外監管公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為浙江 世寶股份有限公司於深圳證券交易所網站所刊發之「非經營性資金佔用及其他關聯資金往來情 況匯總表」。 承董事會命 浙江世寶股份有限公司 董事長 張世權 中國•浙江•杭州 2025年8月26日 | 编制单位：浙江世宝股份有限公司 | | | | | | | | | 单位：人民币元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 | 上市公司核算的 | 2025年期初 | 2025年1-6月往来累 | 2025年 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而産生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Zhejiang Shibao Company Limited* 浙江世寶股份有限公司 （於中華人民共和國註冊成立的股份有限責任公司） （股份代號：1057） 海外監管公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第 13.10B 條發出。以下為浙江 世寶股份有限公司於深圳證券交易所網站所刊發之「浙江世寶股份有限公司 2025 年半年度財 務報告」。 承董事會命 浙江世寶股份有限公司 董事長 張世權 中國•浙江•杭州 2025年8月26日 於本公告刊發日期，本公司董事會包括執行董事張寶義先生、湯浩瀚先生、張蘭君女士及周裕 先生，非執行董事張世權先生及張世忠先生，以及獨立非執行董事龔俊傑先生、閔海濤先生及 徐晋誠先生。 * 僅供識別 浙江世宝股份有限公司 2025 年半年度财务报告 浙江世宝股份有限公司 ZHEJIANG SHIBAO COMPANY LIMITED 2025 年半年度财务报告 ...

Group 1 - The core viewpoint of the article highlights Zhejiang Shibao's significant growth in its mid-year performance for 2025, with a notable increase in both revenue and net profit [1] - The company's operating revenue reached approximately 1.524 billion yuan, reflecting a year-on-year growth of 35.32% [1] - The net profit attributable to shareholders was about 93.0344 million yuan, marking a year-on-year increase of 39.09% [1] - The basic earnings per share stood at 0.1131 yuan [1]

Group 1 - The company Zhejiang Shibao (01057) reported a mid-year performance for 2025, with operating revenue of approximately 1.524 billion yuan, representing a year-on-year increase of 35.32% [1] - The net profit attributable to shareholders of the listed company was approximately 93.0344 million yuan, reflecting a year-on-year growth of 39.09% [1] - The basic earnings per share were reported at 0.1131 yuan [1]