金融界消息 截至2025年8月25日收盘，恒华科技（300365）报收于7.1元，下跌1.11%，换手率6.69%， 成交量34.21万手，成交金额2.43亿元。 资金流向方面，今日主力资金净流出2915.36万元，占比成交额11.99%。其中，超大单净流出525.30万 元、占成交额2.16%，大单净流出2390.05万元、占成交额9.83%，中单净流出流入2054.61万元、占成交 额8.45%，小单净流入860.75万元、占成交额3.54%。 恒华科技最新一期业绩显示，截至2025中报，公司营业总收入3.73亿元、同比增长78.31%，归属净利润 606.24万元，同比减少3.98%，扣非净利润59.94万元，同比减少82.44%，流动比率3.837、速动比率 2.757、资产负债率22.90%。 天眼查商业履历信息显示，北京恒华伟业科技股份有限公司，成立于2000年，位于北京市，是一家以从 事科技推广和应用服务业为主的企业。企业注册资本59985.5469万人民币，实缴资本22458.0071万人民 币。公司法定代表人为罗新伟。 通过天眼查大数据分析，北京恒华伟业科技股份有限公司共对外投资了20家企业 ...

Core Viewpoint - Henghua Technology (300365) reported a significant increase in revenue for the first half of 2025, but a decline in net profit, indicating mixed financial performance amid growing operational challenges [1] Financial Performance - Total revenue reached 373 million yuan, up 78.31% year-on-year, while net profit attributable to shareholders was 6.06 million yuan, down 3.98% [1] - In Q2 alone, revenue was 132 million yuan, reflecting a 36.35% increase year-on-year, but net profit dropped 49.63% to 2.05 million yuan [1] - The gross margin was 22.34%, down 9.59% year-on-year, and the net margin was 1.58%, down 26.99% year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 40.21 million yuan, accounting for 10.79% of revenue, a decrease of 49.63% year-on-year [1] Accounts Receivable and Cash Flow - Accounts receivable were notably high, representing 104.8% of the latest annual revenue, indicating potential liquidity issues [1] - Cash flow from operating activities showed a negative figure of -0.37 yuan per share, although it improved by 8.13% year-on-year [1] Changes in Financial Items - Cash and cash equivalents decreased by 31.61% due to lower collections from accounts receivable compared to operational expenditures [2] - Inventory increased by 104.81% as some projects were not yet confirmed by clients, leading to unrecognized costs [2] - Contract liabilities rose by 54.9% due to increased progress payments received [2] Cost and Profitability Analysis - Operating costs increased by 83.92%, correlating with the rise in revenue [6] - Financial expenses decreased significantly by 173.48% due to reduced interest costs [7] - Income tax expenses saw a drastic change of -4449.43% due to the impact of prior years' deductible losses [8] Business Evaluation - The company's historical return on invested capital (ROIC) has been relatively low, with a median of 8.51% over the past decade, and a particularly poor performance in 2022 with a ROIC of -9.12% [8] - The company has faced two years of losses since its IPO, indicating a fragile business model [8] Industry Position and Standards - The company has actively participated in the formulation of industry standards in the smart grid and smart energy sectors, enhancing its professional influence [8] - It has developed differentiated capabilities in the electric grid design sector, focusing on integrating industry standards into its software products, which are widely used in domestic power transmission and renewable energy projects [8]

在中报营收实现近八成狂飙式增长的同时，恒华科技（300365）(SZ300365，股价7.16元，市值42.95亿 元)的归母净利润却同比下滑，呈现出令人费解的"剪刀差"。 8月19日晚间，恒华科技发布的2025年半年报显示，公司上半年营业收入达到3.73亿元，同比增幅达 78.31%；归母净利润仅606.24万元，同比微降3.98%，扣非净利润更是大幅下滑82.44%，仅59.94万元。 《每日经济新闻》记者注意到，营收高歌猛进与利润不升反降的尴尬局面，暴露出恒华科技在业务结构 调整、成本控制方面面临挑战，也使得其在AI(人工智能)赋能下的增长质量受到市场关注。另外，报告 期内经营活动产生的现金流量净额持续为负，加之应收账款和存货高企，或进一步加剧市场对其资金周 转和盈利可持续性的担忧。 AI技术作为公司战略核心，究竟能否真正转化为实实在在的盈利能力？这无疑是摆在恒华科技面前亟 待解答的关键命题。 AI布局拉动增长 2025年上半年，恒华科技实现营业收入3.73亿元，同比增长高达78.31%。公司对此解释称，这主要得益 于本期承接的大型系统集成项目竣工验收。 恒华科技作为软件和信息技术服务企业，近年来积极布 ...

Group 1 - The core viewpoint of the news is that Henghua Technology has experienced significant revenue growth in the first half of 2025, but its net profit has declined, indicating challenges in profitability despite increased sales [1] - In the first half of 2025, the company achieved an operating income of 373 million yuan, a year-on-year increase of 78.31%, while the net profit attributable to shareholders was 6.06 million yuan, a decrease of 3.98% [1] - The decline in net profit after deducting non-recurring gains and losses was more pronounced, with a drop of 82.44%, resulting in a net profit of 599,400 yuan [1] Group 2 - The increase in revenue is attributed to the completion and acceptance of large system integration projects, which also led to a corresponding increase in costs [1] - The gross profit margin for the first half of 2025 was 22.34%, down 2.37 percentage points year-on-year [1] - As of the end of the reporting period, accounts receivable reached 1 billion yuan, accounting for 40.97% of total assets, while inventory was 580 million yuan, making up 23.77% of total assets, with a year-on-year increase of 11.51% [1] Group 3 - In 2024, the company projected an operating income of 960 million yuan, a year-on-year increase of 15.42%, but reported a loss due to increased costs from fixed-price contracts and intensified competition in the software industry [2] - The company plans to focus on core business areas and selectively undertake quality projects to stabilize revenue, while also optimizing resource allocation and enhancing cost management to improve profitability [2] - Future strategies include leveraging market opportunities in areas such as carbon neutrality, artificial intelligence, and power market transactions to drive innovation and efficiency [2]

Core Viewpoint - Henghua Technology announced the approval of the proposal regarding the 2025 semi-annual report and its summary by the fourth meeting of the sixth board of directors [2] Group 1 - The company held its fourth meeting of the sixth board of directors on August 19 [2] - The meeting resulted in the approval of the proposal for the 2025 semi-annual report [2] - The announcement was made public through the Securities Daily [2]

Group 1 - The company announced that its sixth supervisory board's fourth meeting approved the proposal regarding the 2025 semi-annual report and its summary [2]

Core Viewpoint - The company, Henghua Technology, reported a significant increase in revenue but a decline in net profit, indicating challenges in business structure adjustment and cost control, raising concerns about the sustainability of its growth driven by AI technology [1][2][3]. Revenue and Profit Performance - In the first half of 2025, Henghua Technology achieved a revenue of 373 million yuan, a year-on-year increase of 78.31%, attributed to the completion of large system integration projects [2][3]. - The net profit attributable to shareholders was 6.06 million yuan, a decrease of 3.98% year-on-year, while the net profit after deducting non-recurring gains and losses plummeted by 82.44% to 599,400 yuan [3][4]. Cost and Margin Analysis - The company's operating costs surged by 83.92% to 289 million yuan, outpacing revenue growth, leading to a decline in overall gross margin from 24.71% to 22.34% [3][4]. - The system integration business generated 165 million yuan in revenue, accounting for 44.20% of total revenue, but had a low gross margin of 5.66%, significantly lower than other service segments [4]. Cash Flow and Accounts Receivable - Henghua Technology reported a negative net cash flow from operating activities of -221 million yuan, indicating insufficient cash generation to cover operational costs [6][7]. - As of June 30, 2025, accounts receivable reached 1 billion yuan, an increase of approximately 69 million yuan from the end of 2024, raising concerns about cash flow and potential liquidity issues [7][8]. Inventory and Market Competition - The company's inventory increased significantly to 582 million yuan, representing 23.77% of total assets, which may affect asset turnover efficiency and pose a risk of price declines [7][8]. - The intensifying competition in the software and information technology services industry is leading to increased operational costs and potential market risks due to aggressive marketing and pricing strategies [8].

证券代码：300365 证券简称：恒华科技 公告编码：2025（025）号 北京恒华伟业科技股份有限公司 第六届董事会第四次会议决议公告 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。 北京恒华伟业科技股份有限公司（以下简称"公司"）第六届董事会第四次 会议于 2025 年 8 月 19 日在公司 12 层会议室以现场及通讯方式召开。会议通知 已于 2025 年 8 月 8 日通过电话、邮件方式送达至董事、监事和高级管理人员。 本次会议应出席董事 5 人，实际出席董事 5 人，公司部分监事、高级管理人员 列席会议。会议由董事长江春华先生召集并主持。本次会议召开符合《公司法》 《公司章程》以及有关法律、法规的规定。 经出席会议的董事审议，通过了如下议案： 《2025 年半年度报告》及其摘要详见公司于 2025 年 8 月 20 日在中国证监 会指定创业板信息披露媒体巨潮资讯网发布的公告。 表决结果：同意伍票；反对零票；弃权零票。 特此公告。 北京恒华伟业科技股份有限公司董事会 ...

北京恒华伟业科技股份有限公司 2025 年半年度报告全文 北京恒华伟业科技股份有限公司 北京恒华伟业科技股份有限公司 2025 年半年度报告全文 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。 公司负责人罗新伟、主管会计工作负责人孟令军及会计机构负责人(会计 主管人员)张红雨声明：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。 本报告中如有涉及未来计划、业绩预测等方面内容，均不构成本公司对 任何投资者及相关人士的承诺，投资者及相关人士均应对此保持足够的风险 认识，并且应当理解计划、预测与承诺之间的差异。 公司在发展的过程中面临技术创新风险、营业收入季节性波动风险、应 收账款发生坏账风险等，公司在本报告"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"中详细描述了公司经营中可能存在的风 险和应对措施，敬请广大投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 限公司 2025 年半年度报告全文 北京恒华伟业科技股份有限 ...

Core Viewpoint - Beijing Henghua Weiye Technology Co., Ltd. reported a significant increase in operating revenue for the first half of 2025, while net profit showed a slight decline, indicating a mixed performance amidst a challenging economic environment [1][5]. Financial Performance - Operating revenue reached CNY 372,748,777.85, representing a 78.31% increase compared to CNY 209,049,360.38 in the same period last year [1]. - Net profit attributable to shareholders was CNY 6,062,434.91, down 3.98% from CNY 6,313,437.08 year-on-year [1]. - The net profit after deducting non-recurring gains and losses was CNY 599,421.31, a significant decrease of 82.44% from CNY 3,414,283.99 in the previous year [1]. - The net cash flow from operating activities was negative at CNY -220,659,249.74, an improvement of 8.13% compared to CNY -240,175,943.51 in the same period last year [1]. - Basic and diluted earnings per share were both CNY 0.0101, down 3.81% from CNY 0.0105 [1]. Company Strategy and Focus - The company continues to focus on its core strategic goal of being a "BIM platform software and industry digital application service provider," particularly in the power industry [5]. - It emphasizes the development of BIM platforms and software, design consulting, and digital twin applications, while also integrating artificial intelligence technology into its business scenarios [5]. - The company aims to enhance the quality of its development through technological innovation, despite facing a complex macroeconomic environment and increasing industry competition [5].