Core Viewpoint - Zhejiang Weixing Intelligent Instrument Co., Ltd. has approved the use of idle self-owned funds for entrusted wealth management, with a single investment limit of up to RMB 100 million, which can be rolled over within one year from the date of approval by the shareholders' meeting [1]. Group 1: Wealth Management Activities - The company signed an agreement with Ningbo Bank to purchase structured deposit products using RMB 50 million of idle self-owned funds, with an annualized yield ranging from 1.00% to 2.30% [1]. - The principal of RMB 50 million from the structured deposit product was redeemed on September 4, 2025, along with the investment returns [2]. - The company has utilized a total of RMB 30 million in cash management products that are still outstanding, ensuring that all investments remain within the authorized limits set by the shareholders' meeting [4]. Group 2: Financial Performance - The company has successfully recovered the principal and returns from all matured wealth management products as of the date of the announcement [4]. - The company has engaged in various wealth management products with different banks, including structured deposits with varying annualized yields, demonstrating a diversified approach to cash management [2][3].

证券代码：002849 证券简称：威星智能 公告编号：2025-043 公司于 2025 年 5 月与宁波银行股份有限公司签订了单位结构性存款产品认 购 协 议 ， 使 用 闲 置 自 有 资 金 5,000 万 元 人 民 币 购 买 其 单 位 结 构 性 存 款 7202502462 产品，产品起息日为 2025 年 5 月 21 日，到期日为 2025 年 9 月 2 日， 年化收益率为 1.00%-2.30%。具体内容详见刊登于 2025 年 5 月 21 日的《证券时 报》《中国证券报》《上海证券报》和巨潮资讯网（www.cninfo.com.cn）上的《关 于使用闲置自有资金进行委托理财的进展公告》（公告编号：2025-029）。公司按 期赎回上述理财产品的本金 5,000 万元，并于 2025 年 9 月 4 日取得理财收益 327,671.23 元。本金及理财收益已返还至公司账户。 浙江威星智能仪表股份有限公司 关于使用闲置自有资金进行委托理财到期赎回的公告 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。 浙江威星智能仪表股份有限公司（以下简 ...

Group 1 - The core viewpoint of the article highlights the financial performance of Weixing Intelligent, showing a significant increase in revenue and net profit for the first half of 2025 compared to the previous year [1] - The total operating revenue for the reporting period reached 794 million yuan, representing a year-on-year increase of 17.53% [1] - The net profit attributable to the parent company was 51.97 million yuan, up 32.35% year-on-year [1] Group 2 - In Q2, the operating revenue was 429 million yuan, reflecting a year-on-year growth of 21.68% [1] - The net profit for Q2 was 24.88 million yuan, which is a remarkable increase of 103.35% year-on-year [1] - The company's gross margin was 29.83%, showing a decrease of 14.3% year-on-year, while the net profit margin improved by 14.78% to 7.36% [1] Group 3 - The company has a high accounts receivable ratio, with accounts receivable amounting to 2595.46% of the latest annual net profit [1] - Total selling, administrative, and financial expenses were 132 million yuan, accounting for 16.67% of revenue, which is a decrease of 9.03% year-on-year [1] - The earnings per share increased by 32.58% to 0.24 yuan, while the operating cash flow per share was -0.23 yuan, a significant decrease of 1128.96% year-on-year [1] Group 4 - The company's return on invested capital (ROIC) was 3.24% last year, indicating a weak capital return [2] - The historical median ROIC since the company went public is 10.65%, with the worst year being 2023 at 2.76% [2] - The business model relies heavily on research and marketing efforts, necessitating a deeper analysis of these driving factors [2] Group 5 - The company aims to empower the digital transformation of public utilities through a dual-driven model of "smart terminals + system platforms" [3] - In the smart gas sector, the company offers a full range of products for both residential and commercial applications, utilizing IoT technology for remote data transmission and security control [3] - In the smart water sector, the company has developed high-end metering products that support pipeline leakage monitoring, contributing to cost reduction and efficiency in water usage [3]

Core Insights - Weixing Intelligent (002849.SZ) reported its semi-annual results for 2025, revealing that as of August 27, 2025, a total of 9 institutional investors held shares amounting to 30.4993 million shares, representing 13.82% of the total share capital [1] - The institutional holding ratio increased by 0.32 percentage points compared to the previous quarter [1] Institutional Investors - The institutional investors include Shenzhen Zhongran Technology Co., Ltd., Tibet Born Asset Management Co., Ltd. - Born Tianfu No. 7 Private Securities Investment Fund, Anhui Jingxi Private Fund Management Co., Ltd. - Jingxi Changsheng No. 2 Private Securities Investment Fund, UBS AG, and several Rongtong funds [1] - Five new public funds were disclosed this period compared to the previous quarter, including Rongtong New Energy Flexible Allocation Mixed A/B, Rongtong Growth 30 Flexible Allocation Mixed A/B, Rongtong Industry Trend Selection Mixed A, Rongtong Huixin Mixed A, and Rongtong Dividend Opportunity Theme Selection A [1] Foreign Investment - One new foreign institution, UBS AG, was disclosed this period compared to the previous quarter [2]

Core Viewpoint - The company, Weixing Intelligent, reported a decline in stock price and significant financial performance improvements in the first half of 2025, indicating a mixed market response to its operational results [1] Financial Performance - For the first half of 2025, Weixing Intelligent achieved operating revenue of 794 million yuan, representing a year-on-year growth of 17.53% [1] - The net profit attributable to shareholders of the listed company was 51.97 million yuan, showing a year-on-year increase of 32.35% [1] Stock Market Activity - As of August 27, 2025, Weixing Intelligent's stock price closed at 15.66 yuan, down by 0.42 yuan, a decrease of 2.61% from the previous trading day [1] - The trading volume on that day was 139,500 hands, with a total transaction amount of 224 million yuan [1] - On August 27, the net outflow of main funds was 39.33 million yuan, with a cumulative net outflow of 93.14 million yuan over the past five days [1] Business Overview - Weixing Intelligent specializes in the research, development, production, and sales of smart gas meters and systems, operating within the instrumentation industry [1] - The company's products are primarily used in urban gas sectors, providing intelligent metering solutions for gas operators [1] Corporate Governance - On August 27, the company announced that the third meeting of the sixth board of directors approved several proposals, including the special report on the use of raised funds for the first half of 2025 [1]

浙江威星智能仪表股份有限公司 2025 年半年度财务报告 （未经审计） 2025 年 08 月 第一节 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：浙江威星智能仪表股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 471,807,372.04 | 598,983,715.54 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 58,645,997.99 | 8,645,997.99 | | 衍生金融资产 | | | | 应收票据 | 2,558,123.29 | 9,197,395.01 | | 应收账款 | 872,922,755.27 | 671,890,743.20 | | 应收款项融资 | 116,760,781.80 | 140,902,049.97 | | 预付款项 | 14,521,684.03 | 3,569,26 ...

Core Viewpoint - Weixing Intelligent announced the approval of multiple proposals, including the special report on the use of raised funds for the first half of 2025, during the third meeting of its sixth supervisory board [2] Group 1 - The third meeting of the sixth supervisory board was held on August 27 [2] - The company reviewed and approved the special report regarding the storage and usage of raised funds [2]

Group 1 - The company announced the approval of multiple resolutions during the third meeting of the sixth board of directors, including the special report on the use of raised funds for the first half of 2025 [2]

Financial Performance - The company's operating revenue for the first half of 2025 reached ¥794,111,736.95, representing a 17.53% increase compared to ¥675,645,866.31 in the same period last year[21]. - The net profit attributable to shareholders was ¥51,965,070.43, up 32.35% from ¥39,262,673.65 in the previous year[21]. - The net cash flow from operating activities was ¥50,529,405.23, reflecting a 40.21% increase compared to ¥36,039,298.69 in the same period last year[21]. - Basic earnings per share rose to ¥0.236, marking a 32.58% increase from ¥0.178 in the same period last year[21]. - The company's revenue for the current period reached ¥794,111,736.95, representing a year-over-year increase of 17.53% compared to ¥675,645,866.31 in the same period last year[50]. - Operating costs increased by 26.51% to ¥557,207,041.94 from ¥440,439,003.96, primarily due to the expansion of sales scale[50]. - The net cash flow from operating activities decreased significantly to -¥50,802,996.18, a decline of 1,128.96% from ¥4,937,329.72 in the previous year, mainly due to increased salary payments[50]. - The company reported a significant increase in cash received from sales, totaling ¥690,849,903.12 in the first half of 2025, compared to ¥617,295,099.58 in the previous year, marking a growth of 11.9%[150]. Assets and Liabilities - The total assets of the company at the end of the reporting period amounted to ¥2,621,905,942.75, an 8.19% increase from ¥2,423,377,148.51 at the end of the previous year[21]. - The net assets attributable to shareholders increased to ¥1,347,530,619.64, a 3.29% rise from ¥1,304,560,342.40 at the end of the previous year[21]. - The company's cash and cash equivalents decreased to -¥127,441,343.50, a 40.25% improvement from -¥213,291,423.38, primarily due to increased cash flow from investment activities[50]. - The accounts receivable increased to ¥872,922,755.00, which is 33.29% of total assets, up from ¥671,890,743.00, representing a 5.56% increase[57]. - Total liabilities amounted to CNY 1,199,915,701.48, up from CNY 1,069,609,386.50, which is an increase of approximately 12.2%[140]. - Short-term borrowings rose significantly to CNY 123,066,362.50 from CNY 38,227,101.39, reflecting an increase of about 221%[140]. Investment and Financing Activities - Investment activities generated a net cash flow of -¥96,086,701.63, an improvement of 53.69% from -¥207,480,538.50, attributed to increased cash recovered from investments[50]. - The company raised a total of ¥37,938.34 million through a non-public offering, with a net amount of ¥37,218.97 million after deducting fees[69]. - The company invested ¥1,674.72 million from the raised funds during the reporting period, with a remaining balance of ¥21,766.73 million[69]. - The company reported a significant increase in financing activities, with net cash flow of ¥19,757,561.73, a 283.82% increase from -¥10,748,214.60, mainly due to increased borrowings during the period[50]. - Cash inflow from financing activities reached ¥120,000,000.00, compared to ¥50,000,000.00 in the prior period, marking a 140% increase[154]. Research and Development - The company has accumulated 636 intellectual property rights, including 39 invention patents and 262 utility model patents[42]. - The company has established a research and development center for advanced metering industry with a committed investment of ¥7,069.55 million, achieving a progress rate of 17.10%[70]. - Research and development expenses remained stable at approximately ¥37,349,337.68, slightly down from ¥37,477,344.18[146]. Market Position and Strategy - The company focuses on smart water and gas information systems, smart gas meters, and new generation electronic metering instruments, providing comprehensive solutions for urban smart metering[28]. - The company has established a strong market position, being one of the leading enterprises in the domestic smart gas metering field, with products sold in over 30 provincial-level regions and exported to Southeast Asia and Latin America[39]. - The company aims to innovate and contribute to the stability of the Chinese economy by focusing on its core business and seizing opportunities[40]. - The company is focusing on the construction of a smart metering terminal factory, which is facing delays due to the rapid development of smart technology and the need for market adaptability[71]. Risks and Challenges - The company has highlighted potential risks and countermeasures in its management discussion section, which investors should review[4]. - The company faces industry cyclical risks, with potential demand reduction for smart gas meters if infrastructure construction lags or real estate sales decline[78]. - Market competition risks are increasing as domestic and international competitors enter the smart gas meter industry, potentially leading to a decrease in gross margin[79]. Corporate Governance and Compliance - The semi-annual financial report was not audited[98]. - The company reported no commitments that were not fulfilled by the actual controllers, shareholders, related parties, acquirers, or other related parties during the reporting period[95]. - There were no non-operating fund occupations by controlling shareholders or other related parties during the reporting period[96]. - The company had no violations regarding external guarantees during the reporting period[97]. Social Responsibility and Environmental Compliance - The company adheres to environmental regulations and implements a pollution prevention system throughout its production cycle[92]. - The company actively engages in social responsibility initiatives, contributing to local economic development and creating job opportunities[93].

威星智能 2025 半年度非经营性资金占用及其他关联资金往来情况表 2025 年 1-6 月 | 编制单位：浙江威星智能仪表股份有限公司 | | | | | | | | | | 单位：人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上 市公司的关 联关系 | 上市公司核算 的会计科目 | 2025 年期初 占用资金余 额 | 2025 年 1-6 月占 用累计发生金额 （不含利息） | 2025 年 1-6 月占 用资金的 利息 （如有） | 2025 年 1-6 月偿还累 计发生金 额 | 2025 年 1-6 月期末 占用资金余 额 | 占用形成 原因 | 占用性质 | | 控股股东、实际控制人 | | | | | | | | | | 非经营性占用 | | 及其附属企业 | | | | | | | | | | 非经营性占用 | | 小 计 | - | - | - | | | | | | | - | | 前控股股东、实际控制 | | | | | | | ...