Core Insights - The company Liancheng Precision (002921) reported a revenue increase and a reduction in losses for the first half of 2025, with total revenue reaching 550 million yuan, a year-on-year increase of 2.6% [1] - The net profit attributable to shareholders was -12.03 million yuan, showing a year-on-year improvement of 36.03% [1] Financial Performance - Total revenue for Q2 2025 was 289 million yuan, up 5.25% year-on-year [1] - Q2 net profit attributable to shareholders was -4.23 million yuan, an increase of 65.47% year-on-year [1] - Gross margin stood at 12.91%, down 11.08% year-on-year, while net margin improved to -2.17%, a 38.52% increase year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 66.83 million yuan, accounting for 12.15% of revenue, a decrease of 14.68% year-on-year [1] Key Ratios and Metrics - Earnings per share (EPS) was -0.1 yuan, reflecting a 36.97% improvement year-on-year [1] - The company's net asset per share was 7.9 yuan, up 2.08% year-on-year [1] - Operating cash flow per share was 0.45 yuan, down 30.95% year-on-year [1] Historical Context - The company's return on invested capital (ROIC) was 0.3% last year, indicating historically low capital returns [3] - The median ROIC since the company went public is 6.93%, suggesting average investment returns [3] - The company has reported a loss in one of the seven annual reports since its IPO, warranting further investigation into potential underlying issues [3] Cash Flow and Debt Analysis - The cash flow situation is concerning, with cash and cash equivalents covering only 47.14% of current liabilities [3] - The average operating cash flow over the past three years is only 19.87% of current liabilities [3] - The interest-bearing debt ratio has reached 35.62%, indicating a significant level of debt [3]

Group 1 - The core viewpoint of the article is that Liancheng Precision (002921.SZ) reported a decrease in institutional investor holdings in its A-shares, with a total of 13.514 million shares held by three institutions, representing 9.75% of the total share capital, down by 1.56 percentage points from the previous quarter [1] Group 2 - As of August 22, 2025, the institutional investors include Cuili Holdings Limited, J.P. Morgan Securities PLC - proprietary funds, and Citigroup Global Markets Limited, with a combined holding ratio of 9.75% [1] - There was an increase in foreign investment from Citigroup Global Markets Limited, while J.P. Morgan Securities PLC - proprietary funds saw a decrease in holdings by 0.66% compared to the previous quarter [1] - Goldman Sachs International - proprietary funds did not disclose holdings in the current period, indicating a potential shift in foreign institutional interest [1]

Core Insights - The company, Liancheng Precision (002921), reported a revenue of 550 million yuan for the first half of 2025, reflecting a year-on-year growth of 2.60% [1] - The net profit for the same period was -12.03 million yuan, which represents a year-on-year increase of 36.03% [1] - The basic earnings per share were -0.0953 yuan, and the weighted average return on equity (ROE) was -1.07% [1] Financial Performance - Revenue: 550 million yuan, up 2.60% year-on-year [1] - Net Profit: -12.03 million yuan, up 36.03% year-on-year [1] - Basic Earnings per Share: -0.0953 yuan [1] - Weighted Average ROE: -1.07% [1]

山东联诚精密制造股份有限公司 2025 年半年度财务报告 2025 年 8 月 山东联诚精密制造股份有限公司 2025 年半年度财务报告 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 山东联诚精密制造股份有限公司 2025 年半年度财务报告 | 一年内到期的非流动负债 | 60,995,618.98 | 53,297,256.27 | | --- | --- | --- | | 其他流动负债 | 2,054,992.15 | 4,335,737.80 | | 流动负债合计 | 772,304,391.90 | 783,272,326.33 | | 非流动负债： | | | | 保险合同准备金 | | | | 长期借款 | 116,692,928.57 | 136,164,571.43 | | 应付债券 | 169,472,902.34 | 248,307,481.61 | | 其中：优先股 | | | | 永续债 | | | | 租赁负债 | 26,436,792.28 | 27,288,920.88 | | 长期应 ...

| 证券代码：002921 | 证券简称：联诚精密 | 公告编号：2025-072 | | --- | --- | --- | | 债券代码：128120 | 债券简称：联诚转债 | | 山东联诚精密制造股份有限公司 2025年半年度募集资金存放与使用情况的专项报告 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。 根据《上市公司募集资金监管规则》《深圳证券交易所上市公司自律监管指 引第 1 号——主板上市公司规范运作》等相关法律法规规定，山东联诚精密制 造股份有限公司（以下简称"公司"或"本公司"）将 2025 年半年度募集资金存 放与实际使用情况专项说明如下： 一、募集资金基本情况 (一) 公开发行可转换公司债券 1．实际募集资金金额和资金到账时间 根据中国证券监督管理委员会证监许可[2020]802 号文核准，公司公开发行 人民币 260,000,000.00 元的可转换公司债券，募集资金总额人民币 260,000,000.00 元，扣除承销及保荐费用含税人民币 7,200,000.00 元（含税承销及保荐费用为人 民币 8,000,000.00 元，公司 ...

山东联诚精密制造股份有限公司 ②无控股股东、实际控制人的公司，存在第一大股东或第一大股东关联人非经营性占用资金的，也应填写本表非经营性占用部分。 法定代表人：郭元强 主管会计工作负责人：邱秀梅 会计机构负责人：张祥梅 注：①表中非经营性占用部分，关联方范围依照《股票上市规则》确定； 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：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 | 上市公司核 算的会计科 | 2025 年 期初占 | 2025 年半 年度占用 累计发生 | 2025 年半 年度占用资 | 2025 年半 年度偿还 | 2025 年 期末占 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关联关 | 目 | 用资金 余额 | 金额（不 | 金的利息 (如有) | 累计发生 金额 | 用资金 余额 | | | | | | 系 | | | 含利息） | | | | | | | 控股股东、实际控制 | | | | | ...

二、董事会会议审议情况 与会董事对本次会议审议的全部议案进行审核，审议通过了以下议案： 1、关于《2025年半年度报告及其摘要》的议案 根据公司 2025 年半年度实际情况，根据《公司法》等法律、法规、规范性 文件以及《公司章程》的相关规定，编制了公司《2025 年半年度报告及其摘 要》。 | 证券代码：002921 | 证券简称：联诚精密 | 公告编号：2025-070 | | --- | --- | --- | | 债券代码：128120 | 债券简称：联诚转债 | | 山东联诚精密制造股份有限公司 第三届董事会第二十四次会议决议公告 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。 一、董事会会议召开情况 山东联诚精密制造股份有限公司（以下简称"公司"）第三届董事会第二 十四次会议于 2025 年 8 月 22 日在山东省济宁市兖州区经济开发区北环城路 6 号公司会议室以现场及通讯相结合方式召开，会议由董事长郭元强先生主持。 通知于 2025 年 8 月 11 日以书面通知方式向全体董事发出，应出席会议董事 7 人，实际出席会议董事 7 人，本次董事会会议 ...

Core Viewpoint - Liancheng Precision (002921.SZ) reported a slight increase in revenue for the first half of 2025, but faced significant net losses [1] Financial Performance - The company achieved operating revenue of 549.8 million yuan, representing a year-on-year growth of 2.60% [1] - The net profit attributable to shareholders was a loss of 12.03 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of 17.41 million yuan [1] - Basic earnings per share were reported at -0.0953 yuan [1]

山东联诚精密制造股份有限公司 2025 年半年度报告 2025 年 8 月 山东联诚精密制造股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人郭元强、主管会计工作负责人邱秀梅及会计机构负责人(会计 主管人员)张祥梅声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 报告涉及未来计划等前瞻性陈述，并不代表公司对 2025 年度的盈利预测， 不构成公司对投资者的实质性承诺，请投资者注意投资风险。 公司已在本报告中描述了可能存在的相关风险，敬请投资者查阅本报告第 三节"管理层讨论与分析"之"十、公司面临的风险和应对措施"。敬请广大投 资者注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 1 （http://www.cninfo.com.cn)公开披露过的所有公司文件正本及公告原稿。 上述文件置备地点：公司证券部 3 | 第一节 | 重要提示、目录和释义 1 | ...

联诚精密公告，2025年上半年营业收入5.5亿元，同比增长2.60%。归属于上市公司股东的净亏损 1203.03万元，上年同期亏损1880.54万元。公司计划不派发现金红利，不送红股，不以公积金转增股 本。 ...