Group 1 - The company reported a total operating revenue of 289 million yuan for the first half of 2025, with a net profit attributable to shareholders of 16.47 million yuan [1] - The net cash flow from operating activities was negative at -40.68 million yuan [1] Group 2 - The latest debt-to-asset ratio is 29.78%, which is an increase of 0.16 percentage points compared to the previous quarter [3] - The latest gross profit margin is 40.98%, a decrease of 6.94 percentage points compared to the same period last year [3] - The latest return on equity (ROE) is 1.03% [3] - The diluted earnings per share (EPS) is 0.04 yuan [3] - The latest total asset turnover ratio is 0.12 times, and the inventory turnover ratio is 0.52 times [3] Group 3 - The number of shareholders is 19,200, with the top ten shareholders holding a total of 187 million shares, accounting for 42.04% of the total share capital [3] - The largest shareholder is Yunda Innovation (Chengdu) Investment Co., Ltd., holding 33% of the shares [3]

Group 1 - The company reported operating revenue of 288.695 million yuan, an increase of 23.65% compared to the same period last year, and a net profit attributable to shareholders of 16.4656 million yuan, a year-on-year growth of 13.65% [3][4] - The company plans to cancel a total of 350.8 thousand shares of the second category of restricted stock that have been granted but not yet vested due to performance targets not being met and some incentive targets no longer qualifying [4] - The company has decided to deregister its subsidiary Tangshan Xijiao Zhida Rail Transit Equipment Co., Ltd. to optimize resource allocation and reduce management costs [4] Group 2 - The company acquired a 40% stake in Yangsi (Chengdu) Technology Co., Ltd. for a consideration of 80 million yuan, completing the share transfer procedures on July 8, 2025 [4]

Core Insights - The company, Yunda Technology, reported a revenue of 288,695,017.91 yuan for the first half of 2025, reflecting a year-on-year growth of 23.65% [2] - The net profit attributable to shareholders of the listed company was 16,465,606.55 yuan, showing a year-on-year increase of 13.65% [2] Financial Performance - Revenue for the first half of 2025: 288.70 million yuan, up 23.65% year-on-year [2] - Net profit for the same period: 16.47 million yuan, up 13.65% year-on-year [2]

Core Insights - The company reported a revenue of 288.695 million yuan for the first half of the year, representing a year-on-year increase of 23.65% [1] - The net profit attributable to shareholders reached 16.4656 million yuan, showing a year-on-year growth of 13.65% [1] Business Performance - The company has focused on closely engaging with customers and exploring new market demands, leading to successful project acquisitions [1] - In the smart training sector, the company secured multiple significant projects, reinforcing its leading position in the training market [1] - In the intelligent operation and maintenance sector, the company upgraded core product technologies and steadily expanded the market for equipment renovation [1] Project Achievements - The company signed multiple new orders for subsystems such as 6A high-definition video and 6A fire prevention, with contract amounts exceeding ten million yuan [1] - The company also won a significant contract for the modification of foreign model CMD equipment, marking a breakthrough in the rail transit equipment renovation market [1]

Group 1 - The core viewpoint of the article is that Yunda Technology (SZ 300440) held its 20th meeting of the fifth board of directors on August 19, 2025, to discuss the election of company directors and other documents [1] - For the fiscal year 2024, Yunda Technology's revenue composition is as follows: software and information technology services account for 99.84%, while other businesses account for 0.16% [1] - As of the time of reporting, Yunda Technology has a market capitalization of 5.9 billion yuan [1]

Group 1 - The company, Yunda Technology, reported a revenue of approximately 289 million yuan for the first half of 2025, representing a year-on-year increase of 23.65% [2] - The net profit attributable to shareholders of the listed company was approximately 16.47 million yuan, reflecting a year-on-year increase of 13.65% [2] - The basic earnings per share were 0.038 yuan, which is a year-on-year increase of 13.43% [2]

上市公司名称：成都运达科技股份有限公司 单位：万元 上市公司2025年1-6月非经营性资金占用及其他关联资金往 来情况汇总表 | 非经营性资金占 | 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 | 2025年1-6月往来累计 | 2025年1-6月往来 | 2025年1-6月偿还 | 2025年6月末往来资 | | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 用 | | | | 金余额 | 发生金额（不含利息） | 资金的利息 | 累计发生金 | 金余额 | | | | | | | | | | | （如有） | 额 | | | | | | 控股股东、实际控制人及其附属企业 | | | | | | | | | | | | | 小计 | - | - | - | | | | | | - | | - | | 前控股股东、实际控制人及其附属企业 | | | | | | | | | | | | | 小计 | - | - | ...

证券代码：300440 证券简称：运达科技 公告编号：2025-045 成都运达科技股份有限公司 关于召开2025年第二次临时股东会的通知 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、召开会议的基本情况 1. 股东会届次：2025年第二次临时股东会。 2. 股东会的召集人：公司董事会。2025年8月19日，公司第五届董事会第二 十次会议审议通过了《关于召开2025年第二次临时股东会的议案》。 3. 会议召开的合法、合规性：本次股东会的召开符合有关法律、行政法规、 部门规章、规范性文件、深交所业务规则和公司章程等的相关规定。 4. 会议召开的日期、时间： （1） 现场会议召开时间为：2025年9月5日 14:00 （2） 网络投票时间为：2025年9月5日，其中，通过深圳证券交易所交易系 统进行网络投票的具体时间为：2025年9月5日9:15—9:25，9:30—11:30和13:00— 15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2025年9月5日 9:15-15:00。 5. 会议的召开方式：本次股东会采用现场表决与网络投票相结合的 ...

证券代码：300440 证券简称：运达科技 公告编号：2025-044 成都运达科技股份有限公司 第五届董事会第二十次会议决议公告 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 1.发出董事会会议通知的时间和方式：成都运达科技股份有限公司（以下简 称"公司"）第五届董事会第二十次会议通知及补充会议通知分别于 2025 年 8 月 8 日、8 月 15 日以电子邮件方式发出。 2.召开董事会会议的时间、地点和方式：本次董事会会议于 2025 年 8 月 19 日在成都高新区康强四路 99 号成都运达科技股份有限公司会议室以现场及通讯 表决方式召开。 3.会议出席人数：本次董事会会议应出席董事 7 名，实际出席董事 7 名，其 中何鸿云、朱金陵、王玉松以现场表决方式出席，徐总茂、顾诚、黄庆、吉利以 通讯表决方式出席。 半年度报告》全文及摘要。 2.审议通过了《关于选举公司董事的议案》。 4.会议的主持人：本次董事会会议由公司董事长何鸿云先生主持。 5.会议的召开合法合规：本次董事会会议的召集、召开符合法律法规、部门 规章、规范性文件及《公 ...

Important Notice, Table of Contents, and Definitions [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board ensures the truthfulness, accuracy, and completeness of this semi-annual report, with no false records or misleading statements 2025 Half-Year Core Financial Indicators | Indicator | Amount | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 289 million Yuan | +23.65% | | Net Profit Attributable to Shareholders | - | +13.65% | - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the half-year period[9](index=9&type=chunk) [Risk Factors](index=2&type=section&id=%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company faces significant risks including a large balance of accounts receivable, challenges in technology and product development, and market concentration Accounts Receivable Balance and Proportion of Total Assets | Time Point | Accounts Receivable (million Yuan) | Proportion of Total Assets | | :--- | :--- | :--- | | End of 2023 | 1,174.1967 | 45.14% | | End of 2024 | 1,099.9474 | 43.99% | | End of H1 2025 | 933.5574 | 40.42% | - Product sales are highly dependent on the railway and urban rail transit markets, which accounted for **99.65%** of revenue in H1 2025[7](index=7&type=chunk) - The company faces technology and product development risks if it fails to accurately judge future technological trends or if R&D investment is insufficient[6](index=6&type=chunk) [Definitions](index=7&type=section&id=%E9%87%8A%E4%B9%89) This chapter defines key terms and abbreviations used in the report, including company entities, related parties, industry terms, and regulatory bodies, to facilitate investor understanding Company Profile and Key Financial Indicators [Company Profile](index=9&type=section&id=%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Chengdu Yunda Technology Co., Ltd. (stock code: 300440) is listed on the Shenzhen Stock Exchange, with its legal representative and basic information remaining unchanged during the reporting period Company Basic Information | Item | Content | | :--- | :--- | | Stock Abbreviation | Yunda Technology | | Stock Code | 300440 | | Listing Exchange | Shenzhen Stock Exchange | | Full Chinese Name | 成都运达科技股份有限公司 | | Legal Representative | He Hongyun | [Key Accounting Data and Financial Indicators](index=10&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In H1 2025, the company achieved 289 million Yuan in operating revenue, a 23.65% increase, and 16.47 million Yuan in net profit attributable to shareholders, up 13.65%, with operating cash flow significantly improving by 40.57% despite remaining negative, while total assets decreased by 7.64% to 2.31 billion Yuan 2025 Half-Year Key Financial Data | Indicator | Current Reporting Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 288,695,017.91 | 233,468,426.88 | 23.65% | | Net Profit Attributable to Shareholders (Yuan) | 16,465,606.55 | 14,487,723.70 | 13.65% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (Yuan) | 13,563,467.97 | 13,249,974.66 | 2.37% | | Net Cash Flow from Operating Activities (Yuan) | -40,678,563.88 | -68,447,278.94 | 40.57% | | Basic Earnings Per Share (Yuan/share) | 0.0380 | 0.0335 | 13.43% | | Weighted Average Return on Net Assets | 1.02% | 0.92% | Increased by 0.10 percentage points | | **Indicator** | **Current Period-End** | **Prior Year-End** | **Period-End vs. Prior Year-End Change** | | Total Assets (Yuan) | 2,309,697,062.34 | 2,500,664,167.60 | -7.64% | | Net Assets Attributable to Shareholders (Yuan) | 1,604,665,688.18 | 1,609,653,523.37 | -0.31% | 2025 Half-Year Non-Recurring Gains and Losses | Item | Amount (Yuan) | | :--- | :--- | | Government Subsidies | 2,740,583.87 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets | 1,581,353.49 | | Gains/Losses from Disposal of Non-Current Assets | 90,424.00 | | Net Other Non-Operating Income/Expenses | -952,037.83 | | **Total** | **2,902,138.58** | Management Discussion and Analysis [Business Overview](index=12&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) As a smart system provider for rail transit, the company maintains stable operations, serving national railways, urban rail, and vocational colleges, implementing a "3351" strategy with strong market prospects driven by national policies - The company implements a "3351" strategic plan, targeting **3** customer groups (national railways, urban rail, vocational colleges), exploring **3** business segments (locomotive and rolling stock, traction power supply, railway transportation), offering **5** system solutions (smart training, smart O&M, smart depot, smart traction power supply, smart freight), and providing **1** transport and maintenance service business[36](index=36&type=chunk)[43](index=43&type=chunk) - National policies, including the "National Comprehensive Three-Dimensional Transportation Network Plan" and the "Action Plan for Large-Scale Equipment Renewal and Trade-in of Consumer Goods," are key performance drivers, explicitly supporting the innovative development and upgrading of rail transit equipment, presenting high-growth opportunities for the company[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) [Smart Training Solutions](index=13&type=section&id=%EF%BC%881%EF%BC%89%E6%99%BA%E6%85%A7%E5%9F%B9%E8%AE%AD%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88) This solution leverages digital twin and AI technologies to provide intelligent training systems for national railways, urban rail, and vocational institutions, covering scenarios such as train driving, maintenance, and emergency response, with successful expansion into "Belt and Road" projects like the Jakarta-Bandung High-Speed Railway [Smart O&M Solutions](index=15&type=section&id=%EF%BC%882%EF%BC%89%E6%99%BA%E8%83%BD%E8%BF%90%E7%BB%B4%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88) This solution utilizes physical sensing, image recognition, and big data analytics, centered on the full lifecycle health management of vehicles, to achieve intelligent perception, fault early warning, and O&M decision-making, ensuring safe, reliable, efficient, and energy-saving train operations, widely applied in major urban rail units [Smart Depot Solutions](index=16&type=section&id=%EF%BC%883%EF%BC%89%E6%99%BA%E6%85%A7%E8%BD%A6%E8%BE%86%E6%AE%B5%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88) This solution focuses on enhancing depot operational quality and efficiency by integrating IoT, AI, and digital twin technologies to build a unified intelligent management and control platform, enabling information interoperability across vehicle operation, preparation, and maintenance stages, and promoting a shift towards condition-based intelligent maintenance [Smart Traction Power Supply Solutions](index=17&type=section&id=%EF%BC%884%EF%BC%89%E6%99%BA%E8%83%BD%E7%89%B5%E5%BC%95%E4%BE%9B%E7%94%B5%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88) This solution provides intelligent power distribution management and efficient regenerative energy utilization for traction catenary systems to national and urban rail clients, ensuring reliable power supply for trains, with products widely applied domestically and in "Belt and Road" countries like Belarus and Egypt [Smart Freight Solutions](index=18&type=section&id=%EF%BC%885%EF%BC%89%E6%99%BA%E8%83%BD%E8%B4%A7%E8%BF%90%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88) This solution integrates IoT, big data, and AI to drive the digital and intelligent transformation of railway freight systems, building intelligent dispatching and unified smart control platforms that significantly enhance yard operation efficiency and reduce operating costs, widely deployed across 18 national railway bureaus - The smart freight solution, through technological innovation, improves yard operation efficiency by **30%-50%**, reduces operating costs by **15%-25%**, decreases cargo damage rate by **80%**, and contributes to a **30%-50%** reduction in carbon emissions[60](index=60&type=chunk) [Core Competitiveness Analysis](index=22&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness stems from its profound scientific research foundation, elite team, technological leadership achieved through independent innovation, extensive accumulation in the smart industry, and excellent product quality and brand reputation, with its core team possessing over 30 years of industry experience and technical personnel exceeding 70% - The company's core team originated from Southwest Jiaotong University, boasting over **30 years** of industry experience, with technical personnel accounting for over **70%**[76](index=76&type=chunk) - The company adheres to independent innovation, earning recognition as a National "Little Giant" enterprise specializing in new technologies, a National Enterprise Technology Center, and participating in the formulation of multiple international and domestic industry standards[78](index=78&type=chunk) - The company operates over **200** service outlets nationwide, is ISO/TS 22163 system certified to a silver standard, and has established a "product + service" sales model[80](index=80&type=chunk) [Main Business Analysis](index=23&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In H1 2025, the company's operating revenue reached 289 million Yuan, a 23.65% increase, and net profit attributable to shareholders was 16.47 million Yuan, up 13.65%, driven by strong market performance across all business segments, particularly smart O&M with a 63.98% revenue growth, while the company further solidified its technological leadership by launching the "Yunda Agent Platform" and deploying the "Vehicle Maintenance Expert Large Model" at Guangzhou Metro - In the smart O&M sector, core product technologies were upgraded, securing multi-million Yuan orders for new 6A HD video and 6A fire prevention systems, and winning a multi-million Yuan retrofit project for foreign vehicle models, achieving breakthroughs in both new and existing markets[81](index=81&type=chunk) - The company officially launched the "Yunda Agent Platform" and deployed the "Vehicle Maintenance Expert Large Model" at Guangzhou Metro for the first time, empowering core products with AI for intelligent upgrades[83](index=83&type=chunk)[84](index=84&type=chunk) Operating Revenue by Product/Service (Yuan) | Product/Service | Operating Revenue | Operating Cost | Gross Margin | YoY Change in Operating Revenue | | :--- | :--- | :--- | :--- | :--- | | Smart O&M | 106,058,436.68 | 60,814,660.50 | 42.66% | 63.98% | | Smart Training | 88,605,709.86 | 51,323,089.30 | 42.08% | 5.15% | | Smart Traction Power Supply | 37,911,152.15 | 23,051,784.13 | 39.20% | 40.95% | Reasons for Changes in Key Financial Data | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Operating Cost | 40.13% | Orderly delivery of ongoing projects led to a year-on-year increase in costs | | Financial Expenses | 37.96% | Increase in interest expenses during the current period | | Income Tax Expense | 71.95% | Due to increased profit | | Net Cash Flow from Investing Activities | -659.11% | Increased purchase of wealth management products during the current period | | Net Cash Flow from Financing Activities | 63.34% | No repayment of borrowings or share repurchase in the current period, unlike the prior period | [Non-Core Business Analysis](index=26&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Non-core operations significantly impacted profit during the reporting period, with other income (primarily software VAT refunds and government subsidies) and credit impairment loss reversals (reversal of bad debt provisions for accounts receivable) constituting 44.59% and 76.97% of total profit, respectively Non-Core Business Profit and Loss (Yuan) | Item | Amount | Proportion of Total Profit | Reason for Formation | | :--- | :--- | :--- | :--- | | Investment Income | 1,444,597.58 | 5.97% | Primarily investment income from wealth management products | | Other Income | 10,789,047.11 | 44.59% | Primarily software VAT refunds and government subsidies received | | Credit Impairment Loss | 18,621,654.31 | 76.97% | Primarily reversal of bad debt provision for accounts receivable | [Asset and Liability Status Analysis](index=27&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) As of the end of the reporting period, the company's total assets were 2.31 billion Yuan, a 7.64% decrease from the beginning of the year, with accounts receivable remaining the largest asset component at 40.42% (though its proportion decreased), while inventory proportion increased, and accounts payable constituted the primary liability at 17.15% of total assets Major Balance Sheet Item Changes | Item | Period-End Amount (Yuan) | Proportion of Total Assets | Year-Beginning Amount (Yuan) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 108,483,195.77 | 4.70% | 199,485,843.43 | 7.98% | -3.28% | | Accounts Receivable | 933,557,396.96 | 40.42% | 1,099,947,364.78 | 43.99% | -3.57% | | Inventory | 353,325,702.75 | 15.30% | 305,368,998.32 | 12.21% | 3.09% | | Accounts Payable | 396,133,872.81 | 17.15% | 482,155,450.02 | 19.28% | -2.13% | [Investment Status Analysis](index=28&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company's investment amount significantly increased to 437 million Yuan, an 862.27% year-on-year growth, primarily due to entrusted wealth management using proprietary funds, with a total outstanding balance of 158 million Yuan at period-end - The investment amount for the reporting period was **437 million Yuan**, a significant increase of **862.27%** compared to 45.43 million Yuan in the prior year[102](index=102&type=chunk) Entrusted Wealth Management Overview (million Yuan) | Specific Type | Source of Funds | Amount Incurred | Outstanding Balance | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Proprietary Funds | 367.14 | 128.17 | | Brokerage Wealth Management Products | Proprietary Funds | 30.00 | 30.00 | | **Total** | | **397.14** | **158.17** | [Analysis of Major Holding and Participating Companies](index=30&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) During the reporting period, key subsidiaries such as Sichuan Huiyou (traction power), Guangzhou Yunda (smart O&M), and Chengdu Huoan (smart freight) operated steadily, contributing 8.43 million Yuan, 4.41 million Yuan, and 3.98 million Yuan in net profit respectively, while the company deregistered Tangshan Xijiao Zhida Rail Transit Equipment Co., Ltd. to optimize resource allocation Major Subsidiary Operating Performance (Yuan) | Company Name | Main Business | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | | Sichuan Huiyou | Traction Power Equipment | 27,234,752.59 | 9,575,929.76 | 8,426,732.74 | | Guangzhou Yunda | Smart O&M | 39,025,728.81 | 4,407,337.18 | 4,407,337.77 | | Chengdu Huoan | Smart Freight | 15,297,516.48 | 6,923,953.95 | 3,982,618.97 | Corporate Governance, Environment, and Society [Implementation of Equity Incentive Plans](index=32&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) During the reporting period, the company adjusted its 2023 restricted stock incentive plan, canceling a total of **3.508 million** granted but unvested second-class restricted shares due to employee departures and the failure to meet 2024 company-level performance targets - Due to the departure of some incentive recipients, the company canceled a total of **394,000** granted but unvested second-class restricted shares[122](index=122&type=chunk) - Due to the failure to meet the 2024 performance targets, the company canceled a total of **3.114 million** (2.7105 million + 0.4035 million) restricted shares corresponding to the assessment year from both initial and reserved grants[123](index=123&type=chunk) Significant Matters [Significant Contracts and Their Performance](index=36&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) This chapter details the company's significant contracts, primarily involving leasing and guarantees, including an office lease agreement with related party Yunda Innovation and 111.15 million Yuan in guarantees provided to several subsidiaries to support their development - The company signed a **5-year** office lease contract with its controlling shareholder, Yunda Innovation, for an office area of **31,914 sqm**, with an annual rent of **8.4189 million Yuan**[142](index=142&type=chunk) Summary of Guarantees to Subsidiaries (million Yuan) | Guaranteed Party | Actual Guaranteed Amount | | :--- | :--- | | Sichuan Huiyou | 10.00 | | Chengdu Huoan | 30.00 | | Hunan Hengxin | 20.40 | | Guangzhou Yunda | 40.75 | | Technical Services | 10.00 | | **Total Actual Guarantee Balance at Period-End** | **111.15** | [Significant Matters of Subsidiaries](index=38&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E5%AD%90%E5%85%AC%E5%8F%B8%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) During the reporting period, the company deregistered its subsidiary, Tangshan Xijiao Zhida Rail Transit Equipment Co., Ltd., to optimize resource allocation, while a project contract awarded to its controlling subsidiary, Guangzhou Yunda, in July 2023 is proceeding normally - To optimize resource allocation and reduce management costs, the company deregistered its subsidiary, Tangshan Xijiao Zhida Rail Transit Equipment Co., Ltd., on April 29, 2025[151](index=151&type=chunk) Share Changes and Shareholder Information [Share Changes](index=39&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) As of the end of the reporting period, the company's total share capital remained unchanged at 443.9186 million shares, with unrestricted shares accounting for 99.62% and restricted shares for 0.38% Share Structure | Share Type | Number of Shares | Proportion | | :--- | :--- | :--- | | Restricted Shares | 1,695,035 | 0.38% | | Unrestricted Shares | 442,223,565 | 99.62% | | **Total Share Capital** | **443,918,600** | **100.00%** | [Shareholder Numbers and Shareholding](index=40&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had 19,184 common shareholders, with controlling shareholder Yunda Innovation (Chengdu) Investment Co., Ltd. holding 33.07% of shares, approximately half of which were pledged, and the company's share repurchase account holding 2.37% of total shares - At the end of the reporting period, the company had **19,184** common shareholders[157](index=157&type=chunk) Top Two Shareholders' Shareholding | Shareholder Name | Nature | Shareholding Proportion | Number of Shares Held | Pledge/Mark or Freeze Status | | :--- | :--- | :--- | :--- | :--- | | Yunda Innovation (Chengdu) Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 33.07% | 146,809,324 | Pledged 73,980,000 shares | | Liu Zhiqiang | Domestic Natural Person | 3.32% | 14,757,400 | Not Applicable | - The company's share repurchase special securities account held **10,521,800** shares, accounting for **2.37%** of the company's total share capital[158](index=158&type=chunk) Bond-Related Information [Bond-Related Information](index=44&type=section&id=%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related activities during the reporting period - The company had no bond-related activities during this reporting period[164](index=164&type=chunk) Financial Report [Audit Report](index=45&type=section&id=%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's 2025 half-year financial report is unaudited - This half-year financial report is unaudited[166](index=166&type=chunk) [Financial Statements](index=45&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's unaudited consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, accompanied by detailed notes on accounting policies, estimates, and major statement items [Consolidated Balance Sheet](index=45&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the company's total assets were 2.31 billion Yuan, total liabilities were 688 million Yuan, and owners' equity attributable to the parent company was 1.605 billion Yuan, resulting in a debt-to-asset ratio of 29.78% Consolidated Balance Sheet Summary (2025-06-30) | Item | Period-End Balance (Yuan) | | :--- | :--- | | **Total Assets** | **2,309,697,062.34** | | Total Current Assets | 1,844,458,922.68 | | Total Non-Current Assets | 465,238,139.66 | | **Total Liabilities** | **687,809,929.72** | | Total Current Liabilities | 666,675,858.16 | | Total Non-Current Liabilities | 21,134,071.56 | | **Total Owners' Equity** | **1,621,887,132.62** | | Owners' Equity Attributable to Parent Company | 1,604,665,688.18 | [Consolidated Income Statement](index=49&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In H1 2025, the company achieved total operating revenue of 289 million Yuan, incurred total operating costs of 295 million Yuan, resulting in a total profit of 24.19 million Yuan, a net profit of 17.52 million Yuan, and net profit attributable to parent company shareholders of 16.47 million Yuan Consolidated Income Statement Summary (H1 2025) | Item | Amount (Yuan) | | :--- | :--- | | Total Operating Revenue | 288,695,017.91 | | Total Operating Cost | 294,779,422.68 | | Total Profit | 24,193,936.20 | | Net Profit | 17,515,378.90 | | Net Profit Attributable to Parent Company Shareholders | 16,465,606.55 | [Consolidated Cash Flow Statement](index=53&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In H1 2025, the company's net cash flow from operating activities was -40.68 million Yuan (an improvement), from investing activities was -20.91 million Yuan (primarily due to wealth management product purchases), and from financing activities was -30.41 million Yuan, with cash and cash equivalents totaling 90.08 million Yuan at period-end Consolidated Cash Flow Statement Summary (H1 2025) | Item | Amount (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | -40,678,563.88 | | Net Cash Flow from Investing Activities | -20,910,580.01 | | Net Cash Flow from Financing Activities | -30,411,639.60 | | **Net Increase in Cash and Cash Equivalents** | **-92,000,783.49** | | Cash and Cash Equivalents at Period-End | 90,083,939.21 |