Group 1 - The core point of the article is that Youxunda (300514.SZ) has been shortlisted for a major tender by China Southern Power Grid for metering equipment, with a pre-winning bid amount of approximately RMB 161 million [1] Group 2 - The tender was published on September 1, 2025, under the project number CG2700022002051852 [1] - The announcement indicates a significant opportunity for Youxunda in the energy sector, particularly in the supply of metering devices [1] - This development may enhance Youxunda's market position and revenue potential in the coming years [1]

证券代码：300514 证券简称：友讯达 公告编号：2025-037 深圳友讯达科技股份有限公司 南方电网公司2025年计量设备第一批框架招标项目（招标编号：CG270002 2002051852），由中国南方电网有限责任公司委托南方电网供应链集团有限公司 为招标代理机构，采用公开招标方式进行，已于2025年7月8日在南方电网公司供 应链统一服务平台发布了详细的公开招标信息。 二、项目预中标的主要内容 根据南方电网公司2025年计量设备第一批框架招标项目中标公示显示，公司 本次共中4个包，分别为： | 品类 | 地区 | 标包 | 比例 | 标包金额 （万元） | | --- | --- | --- | --- | --- | | 级单相智能电能表 A | 全网 | 14 | 3.8% | 4762.27427 | | 宽带双模通信模块 | 全网 | 1 | 8% | 5516.90404 | | 智能量测终端（公变 型） | 广东 | 3 | 25% | 3701.95 | 1 | 智能台区终端 | 广东云南 | 4 | 15% | 2075.9625 | | --- | --- | --- | --- | ...

Group 1 - The company's total revenue for the first half of 2025 is 380 million yuan, a year-on-year decrease of 25.34% [1] - The net profit attributable to the parent company is 53.62 million yuan, down 38.25% year-on-year [1] - In Q2, the total revenue is 246 million yuan, a decline of 22.99% year-on-year, with a net profit of 44.82 million yuan, down 21.18% year-on-year [1] Group 2 - The company's accounts receivable is significant, with accounts receivable accounting for 125.56% of the latest annual net profit [1][2] - The gross profit margin is 40.85%, an increase of 2.92% year-on-year, while the net profit margin is 14.13%, a decrease of 17.29% year-on-year [1] - Total selling, administrative, and financial expenses amount to 63.12 million yuan, representing 16.63% of revenue, an increase of 26.97% year-on-year [1] Group 3 - The company's return on invested capital (ROIC) for the previous year was 19.57%, indicating strong capital returns [2] - The historical median ROIC since the company went public is 16.42%, reflecting good investment returns [2] - The company has a history of relatively good financial reports, with the worst ROIC recorded in 2020 at 4.1% [2]

Core Viewpoint - Shenzhen Youxunda Technology Co., Ltd. reported a decline in both revenue and net profit for the first half of 2025, indicating challenges in its business operations [1][2]. Financial Performance - The company achieved operating revenue of 380 million yuan, a year-on-year decrease of 25.34% [1]. - The net profit attributable to shareholders was 53.6165 million yuan, down 38.25% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 47.5716 million yuan, reflecting a 42.53% decline compared to the previous year [1]. Business Segments - The revenue from the power terminal business segment decreased by 30.89% year-on-year [2]. - The revenue from the electric meter business segment saw a decline of 3.11% year-on-year [2]. - The revenue from the wireless network business segment dropped by 16.34% year-on-year [2]. Project Delivery - The progress of project delivery has slowed down for the company in the first half of the year [2].

Group 1 - The company reported a revenue of 380 million yuan, representing a year-on-year decline of 25.34% [1] - The net profit attributable to shareholders was 53.6165 million yuan, down 38.25% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 47.57 million yuan, a decrease of 42.53% year-on-year [1]

| 属企业 | | | | | | --- | --- | --- | --- | --- | | 其他关联方及其附属企业 | | | | | | 总计 | - | - | - | - | 注：①表中非经营性占用部分，关联方范围依照《创业板上市规则》确定。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。 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 年半年度 占用累计发生 金额（不含利 息） 2025 年半年 度占用资金的 利息（如有） 2025 年半年 度偿还累计 发生金额 2025 年半年 度期末占用 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 - - - 其他关联方及附属企业 小计 - - - - - 总计 - - - - - 其它关联资金往来 资金往来 方名称 往来方与上 市公司的 ...

证券代码：300514 证券简称：友讯达 公告编号：2025-034 二、董事会会议审议情况 1、审议并通过关于《2025年半年度报告》及其摘要的议案 深圳友讯达科技股份有限公司 第四届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，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 深圳友讯达科技股份有限公司（以下简称"公司"）第四届董事会第二次会议 于2025年8月25日（星期一）上午10：00以通讯表决方式召开。会议通知已于2025 年8月15日以电子邮件、电话方式送达全体董事，与会的各位董事已知悉与所议 事项相关的必要信息。 本次董事会会议应出席董事5名，实际出席董事5名，公司部分高级管理人员 列席了本次会议。会议由公司董事长崔涛先生主持，会议的召开和表决程序符合 《中华人民共和国公司法》和《公司章程》的有关规定。 董事会认为：公司《2025年半年度报告》及其摘要的编制和审核的程序符合 法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司 2025年上半年经营的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 本议案已经公司董事会 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section presents important notices, the report's directory, and definitions of key terms [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The board of directors and senior management guarantee the report's truthfulness, accuracy, and completeness, and the company plans no dividend distribution or capital increase - The company's board of directors and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility[3](index=3&type=chunk) - Company head Cui Tao and chief accountant Liao Dongli declare the financial report is true, accurate, and complete[3](index=3&type=chunk) - The company faces key risks including technology and industry risks, intensified market competition, single business structure, raw material price fluctuations, and management risks from expansion[3](index=3&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from capital reserves[4](index=4&type=chunk) [Directory of Reference Documents](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) This section lists the reference documents for the 2025 semi-annual report, including signed report texts and publicly disclosed files - Reference documents include the 2025 semi-annual report text signed by legal representative Cui Tao[8](index=8&type=chunk) - Reference documents also include financial report texts signed and sealed by the legal representative, chief accountant, and head of accounting[8](index=8&type=chunk) - All original company documents and announcements publicly disclosed on the CSRC-designated website during the reporting period are also listed as reference documents[8](index=8&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, covering company names, subsidiaries, shareholders, reporting periods, and various technical terms - "Friendcom Technology" refers to Shenzhen Friendcom Technology Co., Ltd[9](index=9&type=chunk) - The reporting period is from January 1, 2025, to June 30, 2025[9](index=9&type=chunk) - Definitions include various power communication technologies such as HPLC (High-speed Power Line Carrier), CFDA (Cellular Fixed Wireless Digital Access), and MuCoFAN (Multi-mode Deep Coverage Field Area Network)[9](index=9&type=chunk) [Company Profile and Key Financial Indicators](index=7&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information and presents its key accounting data and financial indicators [Company Profile](index=7&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) This section outlines the company's fundamental information, including its stock details, official names, and legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Friendcom | | Stock Code | 300514 | | Stock Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | 深圳友讯达科技股份有限公司 | | Company's Chinese Abbreviation | 友讯达科技 | | Company's Foreign Name | FRIENDCOM | | Company's Legal Representative | Cui Tao | [Contact Persons and Information](index=7&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section provides contact details for the company's Board Secretary and Securities Affairs Representative Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Shen Zhengzhao | 3rd Floor, Building 6, Guangqian Industrial Zone, Longzhu 3rd Road, Longguang Community, Taoyuan Street, Nanshan District, Shenzhen | 0755-23230588 | 0755-86026300 | yxd@friendcom.com | | Securities Affairs Representative | Luo Wei | 3rd Floor, Building 6, Guangqian Industrial Zone, Longzhu 3rd Road, Longguang Community, Taoyuan Street, Nanshan District, Shenzhen | 0755-23230588 | 0755-86026300 | yxd@friendcom.com | [Other Information](index=7&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) This section confirms that there were no changes in the company's contact details, information disclosure, or registration during the reporting period - The company's registered address, office address, website, and email address remained unchanged during the reporting period[14](index=14&type=chunk) - Information disclosure and placement locations remained unchanged during the reporting period[15](index=15&type=chunk) - The company's registration status remained unchanged during the reporting period[16](index=16&type=chunk) [Key Accounting Data and Financial Indicators](index=8&type=section&id=%E5%9B%9B%E3%80%81%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) The company's revenue and net profit attributable to shareholders decreased, while net cash flow from operating activities significantly improved Key Accounting Data and Financial Indicators (Current Reporting Period vs. Prior Year Period) | Indicator | Current Reporting Period (RMB) | Prior Year Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 379,540,237.87 | 508,360,272.70 | -25.34% | | Net Profit Attributable to Shareholders | 53,616,524.17 | 86,822,061.43 | -38.25% | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains/Losses | 47,571,554.98 | 82,777,883.00 | -42.53% | | Net Cash Flow from Operating Activities | -26,804,570.29 | -104,190,101.93 | 74.27% | | Basic Earnings Per Share (RMB/share) | 0.2681 | 0.4341 | -38.24% | | Diluted Earnings Per Share (RMB/share) | 0.2681 | 0.4341 | -38.24% | | Weighted Average Return on Net Assets | 5.02% | 9.37% | -4.35% | | **Current Reporting Period End vs. Prior Year End** | | | | | Total Assets | 1,527,218,940.23 | 1,461,218,688.34 | 4.52% | | Net Assets Attributable to Shareholders | 1,095,319,712.31 | 1,041,593,161.07 | 5.16% | [Differences in Accounting Data Under Domestic and International Accounting Standards](index=8&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company reports no differences in net profit and net assets between international/overseas and Chinese accounting standards during the reporting period - The company reports no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[18](index=18&type=chunk) - The company reports no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[19](index=19&type=chunk) [Non-recurring Gains and Losses and Amounts](index=8&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Total non-recurring gains and losses for the period amounted to **RMB 6.04 million**, primarily from government grants and fair value changes of financial assets Non-recurring Gains and Losses and Amounts | Item | Amount (RMB) | | :--- | :--- | | Disposal gains/losses on non-current assets | -223,752.48 | | Government grants recognized in current profit/loss | 2,331,920.03 | | Fair value changes and disposal gains/losses from financial assets/liabilities held by non-financial enterprises | 5,026,916.67 | | Other non-operating income and expenses | -23,355.76 | | Less: Income tax impact | 1,066,759.27 | | Total | 6,044,969.19 | - The company has no other profit or loss items that meet the definition of non-recurring gains and losses[22](index=22&type=chunk) - The company has not classified non-recurring gains and losses as recurring profit or loss items[22](index=22&type=chunk) [Management Discussion and Analysis](index=10&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section discusses the company's business operations, financial condition, and future outlook, including key performance drivers, risks, and mitigation strategies [Main Business Activities During the Reporting Period](index=10&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) The company focuses on smart IoT technology, providing comprehensive solutions for public utilities and smart city construction, driven by innovation and policy support - The company is dedicated to the application and innovation of smart IoT technology, providing comprehensive IoT solutions for various industries[30](index=30&type=chunk) - Key business areas include public utilities (water, electricity, gas, heating) and smart city construction (smart transportation, smart streetlights)[30](index=30&type=chunk) [Industry Development Overview](index=10&type=section&id=1%E3%80%81%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E6%83%85%E5%86%B5) The power industry is undergoing significant transformation driven by national energy transition and digitalization, with substantial investments in smart grid construction - State Grid Corporation's "14th Five-Year Plan" explicitly aims to build new digital infrastructure, with grid construction investment expected to exceed **RMB 650 billion** in 2025[25](index=25&type=chunk) - China Southern Power Grid's "14th Five-Year Plan" investment reached **RMB 670 billion**, a 33% year-on-year increase, with 2025 fixed asset investment around **RMB 175 billion**[25](index=25&type=chunk) - The "Three-Year Action Plan for New IoT Infrastructure Construction" mandates accelerating IoT technology innovation and industrial application, with global IoT device connections expected to exceed **24.6 billion** by 2025[26](index=26&type=chunk) - The company's MuCoFAN IoT field area network technology can provide ubiquitous smart IoT solutions for power grid companies and society[29](index=29&type=chunk) [Company's Main Business Activities](index=11&type=section&id=2%E3%80%81%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) The company's core businesses include low-voltage power, low/medium-voltage distribution smart IoT, transmission and transformation smart IoT, and public utility metering solutions - Low-voltage power business provides smart energy meters, electricity information collection equipment, and dual-mode MESH network solutions for industrial, commercial, and residential use[30](index=30&type=chunk) - Low-voltage distribution smart IoT business ensures efficient smart distribution network operation through edge IoT agents, smart terminal devices, and multi-mode communication units[32](index=32&type=chunk) - Medium-voltage distribution smart IoT business offers primary-secondary integrated products, secondary smart distribution automation equipment, and smart IoT solutions[35](index=35&type=chunk) - Transmission and transformation smart IoT business enhances intelligent management of transmission and transformation systems via edge IoT agents, collection terminals, and multi-mode tree+star network communication solutions[38](index=38&type=chunk)[39](index=39&type=chunk) - Public utility metering business focuses on ultrasonic gas metering modules and comprehensive solutions, also providing smart gas cloud platform solutions[43](index=43&type=chunk)[45](index=45&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk) [Company's Main Business Model](index=18&type=section&id=3%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company operates on a direct sales model, primarily through negotiations and tenders, with a nationwide and international sales and service network - All company products and services are sold via direct sales, primarily through negotiation and bidding processes[52](index=52&type=chunk) - The company has established offices across the country responsible for marketing, customer relations, and building/maintaining product sales channels[52](index=52&type=chunk) - The company has established overseas business units for international market expansion, with a sales and service network covering all provinces, municipalities, and autonomous regions nationwide[52](index=52&type=chunk) [Company Performance Drivers](index=18&type=section&id=4%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) Performance is driven by global digitalization, IoT infrastructure, smart utility market growth, accelerated smart power grid construction, and the smart city development boom - The national "14th Five-Year Plan" explicitly includes IoT among seven key digital economy industries, promoting intelligent social governance, industrial upgrading, and consumer services[53](index=53&type=chunk)[54](index=54&type=chunk) - Smart water informationization investment will exceed **RMB 10 billion**, and the smart gas market is also poised for explosive growth[55](index=55&type=chunk) - State Grid's "163" digital empowerment project is expected to invest over **RMB 6 trillion**, with over **RMB 70 billion** specifically for digitalization[56](index=56&type=chunk) - China Southern Power Grid is fully advancing intelligent construction, aiming for "measurable, observable, controllable" distribution networks, with a total investment of **RMB 323 billion**[57](index=57&type=chunk) - The "14th Five-Year Plan" designates smart cities as a core pillar of digital economic development, driving digital transformation in urban governance, public services, and industrial upgrading[58](index=58&type=chunk)[59](index=59&type=chunk) [Analysis of Core Competencies](index=20&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 builds comprehensive core competencies through continuous technological innovation, strong R&D, brand reputation, and stringent product quality management - The company closely aligns with strategic development plans, focusing on customer needs to deeply integrate R&D, production, and sales, enhancing operational efficiency, strengthening customer loyalty, and continuously solidifying core competitiveness[60](index=60&type=chunk) [Technological Innovation Advantage](index=20&type=section&id=1%E3%80%81%E6%8A%80%E6%9C%AF%E5%88%9B%E6%96%B0%E4%BC%98%E5%8A%BF) The company possesses proprietary IoT communication technologies and actively contributes to industry standards, holding numerous patents and software copyrights - The company possesses core IoT communication technologies such as CFDA, L-CFDA, and MuCoFAN[61](index=61&type=chunk) - As of June 30, 2025, the company and its subsidiaries have obtained **123 authorized invention patents**, **109 utility model patents**, **46 design patents**, and **151 software copyrights**[61](index=61&type=chunk) [R&D Advantage](index=20&type=section&id=2%E3%80%81%E7%A0%94%E5%8F%91%E4%BC%98%E5%8A%BF) The company employs a "produce, develop, pre-research" strategy, maintaining a high-caliber R&D team and achieving national and industry recognition for its innovations - The company adheres to a "produce one generation, develop one generation, pre-research one generation" product R&D strategy, continuously investing in technological innovation[62](index=62&type=chunk) - The company is a member of the European Association for Open Metering Systems and the Wi-SUN Alliance[62](index=62&type=chunk) - The company's R&D achievements have received multiple science and technology progress awards, including the Shenzhen Science and Technology Progress Award Second Prize and State Grid Sichuan Electric Power Company Science and Technology Progress Award First Prize[63](index=63&type=chunk) [Brand Reputation Advantage](index=22&type=section&id=3%E3%80%81%E5%93%81%E7%89%8C%E5%95%86%E8%AA%89%E4%BC%98%E5%8A%BF) The company has established a strong brand image in wireless information collection, recognized with provincial famous trademark and product awards, and as a national "Little Giant" enterprise - The "Friendcom" trademark was recognized as a Guangdong Famous Trademark, and its products received the Guangdong Famous Brand Product title[64](index=64&type=chunk) - The company has been continuously recognized as a "Guangdong Province Contract-Abiding and Credit-Worthy Enterprise" for many years and designated as a national "Little Giant" enterprise specializing in niche sectors[64](index=64&type=chunk) [Product Quality Advantage](index=22&type=section&id=4%E3%80%81%E4%BA%A7%E5%93%81%E8%B4%A8%E9%87%8F%E4%BC%98%E5%8A%BF) Adhering to a "quality first" philosophy, the company maintains a robust quality management system with international certifications and advanced tools, ensuring high product standards - The company holds authoritative certifications such as ISO9001, ISO14001, OHSAS18000, and China 3C certification, ensuring product quality meets high domestic and international standards[65](index=65&type=chunk) - The company employs advanced international quality management tools like SPC, FMEA, MSA, and has adopted Huawei's structured development model to strictly control all stages of product R&D, production, testing, and delivery[67](index=67&type=chunk) - The company has established a stringent "Quality Management System" covering key aspects such as raw material procurement, manufacturing, and quality inspection[70](index=70&type=chunk) [Analysis of Main Business](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) Operating revenue decreased by **25.34%** due to slower project delivery, while R&D investment increased, and operating cash flow significantly improved by **74.27%** Key Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (RMB) | Prior Year Period (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 379,540,237.87 | 508,360,272.70 | -25.34% | Slower delivery of winning bids | | Operating Cost | 224,513,383.35 | 306,614,636.13 | -26.78% | Decreased revenue | | R&D Investment | 39,999,078.04 | 35,614,422.21 | 12.31% | Increased R&D investment | | Net Cash Flow from Operating Activities | -26,804,570.29 | -104,190,101.93 | 74.27% | Increased collection of goods payments | | Net Cash Flow from Investing Activities | -68,938,206.74 | -11,289,112.78 | -510.66% | Purchase of large-denomination certificates of deposit | | Net Cash Flow from Financing Activities | -1,745,861.95 | -39,347,635.46 | 95.56% | Undistributed dividends | Products or Services Accounting for Over 10% | By Product or Service | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Profit Margin | YoY Change in Operating Revenue | | :--- | :--- | :--- | :--- | :--- | | Power Terminal Products | 105,038,867.51 | 67,194,888.20 | 36.03% | -30.89% | | Energy Meters | 174,639,450.00 | 97,741,262.66 | 44.03% | -3.11% | | Wireless Network Products | 70,539,893.95 | 36,403,550.60 | 48.39% | -16.34% | | **By Region** | | | | | | Southwest China | 60,697,571.72 | 33,699,871.31 | 44.48% | 1,504.19% | - There were no significant changes in the company's profit composition or sources during the reporting period[73](index=73&type=chunk) [Analysis of Non-Core Business](index=24&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 business impacted total profit, with investment income contributing **8.54%** and other income **13.99%**, while asset and credit impairment losses had a negative effect Impact of Non-Core Business on Total Profit | Item | Amount (RMB) | Percentage of Total Profit | Explanation of Formation Reason | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 5,026,916.67 | 8.54% | Accrued investment income from large-denomination certificates of deposit | No | | Asset Impairment | -1,030,090.18 | -1.75% | Inventory impairment loss | No | | Credit Impairment Loss | -2,296,640.42 | -3.90% | Provision for bad debts on accounts receivable | No | | Other Income | 8,235,607.36 | 13.99% | VAT software refund and government grants | VAT software refund is sustainable | [Analysis of Assets and Liabilities](index=25&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) Total assets and net assets attributable to shareholders increased, while cash and equivalents decreased, and accounts receivable and inventory increased Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (RMB) | Percentage of Total Assets | Amount at End of Prior Year (RMB) | Percentage of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 435,371,902.57 | 28.51% | 529,738,244.61 | 36.25% | -7.74% | | Accounts Receivable | 248,815,841.17 | 16.29% | 188,207,647.33 | 12.88% | 3.41% | | Inventory | 98,770,560.40 | 6.47% | 72,068,002.52 | 4.93% | 1.54% | | Total Assets | 1,527,218,940.23 | 100.00% | 1,461,218,688.34 | 100.00% | 4.52% | | Net Assets Attributable to Shareholders | 1,095,319,712.31 | 71.72% | 1,041,593,161.07 | 71.28% | 5.16% | Asset Rights Restriction Status as of End of Reporting Period | Item | Balance (RMB) | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 11,710.94 | Margin deposit | | Debt Investments | 200,000,000.00 | Pledged for bill issuance | | Total | 200,011,710.94 | | - The company had no major overseas assets or assets and liabilities measured at fair value during the reporting period[79](index=79&type=chunk)[80](index=80&type=chunk) [Analysis of Investment Status](index=26&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) The company reported no significant equity or non-equity investments, fair value changes in financial assets, use of raised funds, wealth management, derivative investments, or entrusted loans - The company had no use of raised funds during the reporting period[82](index=82&type=chunk) - The company had no entrusted wealth management, derivative investments, or entrusted loans during the reporting period[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk) [Significant Asset and Equity Sales](index=26&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not engage in any significant asset or equity sales during the reporting period - The company did not sell significant assets during the reporting period[87](index=87&type=chunk) - The company did not sell significant equity during the reporting period[88](index=88&type=chunk) [Analysis of Major Holding and Participating Companies](index=27&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) Wuhan Friendcom Technology Co., Ltd. is a key subsidiary, and the company established two new overseas wholly-owned subsidiaries to expand its global presence Major Subsidiary Information | Company Name | Company Type | Main Business | Registered Capital (RMB) | Total Assets (RMB) | Net Assets (RMB) | Operating Revenue (RMB) | Operating Profit (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wuhan Friendcom Technology Co., Ltd. | Subsidiary | Public Utilities | 170,000,000.00 | 120,596,767.89 | 99,239,188.10 | 12,602,160.76 | 9,096,134.64 | 9,091,197.43 | - During the reporting period, the company established two new overseas wholly-owned subsidiaries: Friendcom International (Hong Kong) Company Limited and Friendcom Technology (SG) Pte. Ltd[89](index=89&type=chunk) - The newly established subsidiaries had no significant impact on overall production, operations, or performance[89](index=89&type=chunk) [Structured Entities Controlled by the Company](index=27&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company had no controlled structured entities during the reporting period[90](index=90&type=chunk) [Risks Faced by the Company and Countermeasures](index=27&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company addresses risks from technology, market competition, business concentration, raw material prices, and expansion through R&D, diversification, and improved management - The company faces technology and industry risks such as rapid technological iteration, core technology leakage and infringement, and loss of key technical personnel[91](index=91&type=chunk) - The company faces market competition risks such as intensified industry competition and product homogenization[94](index=94&type=chunk) - The company's main revenue comes from power industry clients, posing risks of single market dependence and sales impact from industry fluctuations[97](index=97&type=chunk) - Raw material price fluctuations may lead to production cost volatility, affecting the company's gross profit margin and profitability[100](index=100&type=chunk) - The company's business expansion may bring management risks such as outdated management models, insufficient talent reserves, and untimely organizational structure adjustments[104](index=104&type=chunk) [Technology and Industry Risks](index=27&type=section&id=1%E3%80%81%E6%8A%80%E6%9C%AF%E5%8F%8A%E8%A1%8C%E4%B8%9A%E9%A3%8E%E9%99%A9) The company addresses risks from rapid technological updates, intellectual property infringement, and talent loss through increased R&D, IP protection, and talent incentives - Key risks: rapid technological iteration, core technology leakage and infringement, loss of key technical personnel[91](index=91&type=chunk) - Countermeasures: increase R&D investment, improve intellectual property protection system, optimize talent incentive mechanisms[92](index=92&type=chunk) [Risk of Intensified Market Competition](index=28&type=section&id=2%E3%80%81%E5%B8%82%E5%9C%BA%E7%AB%9E%E4%BA%89%E5%8A%A0%E5%89%A7%E7%9A%84%E9%A3%8E%E9%99%A9) The company mitigates risks from increased industry competition and product homogenization by strengthening its brand, expanding markets, and continuously upgrading products - Key risks: intensified industry competition, increasing competitors, potential market share erosion; risk of product homogenization[94](index=94&type=chunk) - Countermeasures: enhance brand advantage, deepen market expansion, continuously upgrade products[95](index=95&type=chunk) [Sales Dependence Risk Due to Single Business Structure](index=28&type=section&id=3%E3%80%81%E4%B8%9A%E5%8A%A1%E7%BB%93%E6%9E%84%E5%8D%95%E4%B8%80%E5%AF%BC%E8%87%B4%E7%9A%84%E9%94%80%E5%94%AE%E4%BE%9D%E8%B5%96%E9%A3%8E%E9%99%A9) To counter reliance on the power industry, the company plans to diversify business, increase smart IoT R&D, and expand into overseas markets - Key risks: over-reliance on power industry clients, weaker risk resistance; power industry investment cycle fluctuations may affect company orders[97](index=97&type=chunk) - Countermeasures: expand diversified businesses (public utility metering in water, gas, heat, etc.), increase R&D for smart IoT products, strengthen overseas market development[98](index=98&type=chunk) [Risk of Raw Material Price Fluctuations](index=28&type=section&id=4%E3%80%81%E5%8E%9F%E6%9D%90%E6%96%99%E4%BB%B7%E6%A0%BC%E6%B3%A2%E5%8A%A8%E7%9A%84%E9%A3%8E%E9%99%A9) The company manages raw material price volatility by strengthening supply chain management, diversifying suppliers, and maintaining reasonable inventory levels - Key risks: high proportion of raw material costs, significant impact on product pricing and profit margins; unstable supply chain, potentially leading to material shortages or cost increases[101](index=101&type=chunk) - Countermeasures: strengthen supply chain management, optimize procurement strategies; expand supply channels, establish a multi-supplier system; maintain reasonable inventory reserves[102](index=102&type=chunk) [Management Risks from Scale Expansion](index=29&type=section&id=5%E3%80%81%E8%A7%84%E6%A8%A1%E6%89%A9%E5%BC%A0%E5%B8%A6%E6%9D%A5%E7%9A%84%E7%AE%A1%E7%90%86%E9%A3%8E%E9%99%A9) The company addresses management risks from expansion by optimizing organizational structure, enhancing talent development, adopting modern management tools, and implementing incentive mechanisms - Key risks: outdated management models, difficulty matching rapid expansion needs; insufficient talent reserves, leading to decreased management execution; untimely organizational structure adjustments, affecting corporate operational efficiency[104](index=104&type=chunk) - Countermeasures: optimize organizational structure, establish a scientific and efficient management system; strengthen talent cultivation and reserves; introduce modern management tools; implement incentive mechanisms[105](index=105&type=chunk) [Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=30&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) On April 11, 2025, the company hosted an online performance briefing for 2024, engaging with investors on its operations, financials, and future plans - On April 11, 2025, the company hosted an online exchange via the Value Online network platform, engaging with all investors participating in the 2024 annual online performance briefing[106](index=106&type=chunk) - Key topics discussed included the company's operational status, financial condition, and future development plans[106](index=106&type=chunk) [Implementation of Market Value Management System and Valuation Enhancement Plan](index=30&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period - The company did not formulate a market value management system during the reporting period[107](index=107&type=chunk) - The company did not disclose a valuation enhancement plan during the reporting period[107](index=107&type=chunk) [Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=30&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E2%80%9C%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%E2%80%9D%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period - The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period[107](index=107&type=chunk) [Corporate Governance, Environment, and Society](index=31&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section covers changes in the company's governance, profit distribution, employee incentives, environmental disclosures, and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=31&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, several directors, supervisors, and senior management members left due to the expiration of their terms Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Zhang Mingsheng | Chairman of the Supervisory Board | Term expired | June 26, 2025 | Re-election | | Zhao Jin | Supervisor | Term expired | June 26, 2025 | Re-election | | Xu Xing | Supervisor | Term expired | June 26, 2025 | Re-election | | Meng Xiangjuan | Deputy General Manager | Term expired | June 26, 2025 | Re-election | | Dong Yinfeng | Deputy General Manager | Term expired | June 26, 2025 | Re-election | [Profit Distribution and Capital Reserve Conversion to Share Capital in Current Reporting Period](index=31&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the semi-annual period - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the semi-annual period[110](index=110&type=chunk) [Implementation of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=31&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) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[111](index=111&type=chunk) [Environmental Information Disclosure](index=31&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The listed company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[112](index=112&type=chunk) [Social Responsibility](index=31&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company actively fulfills its social responsibilities by enhancing governance, protecting stakeholder rights, engaging in philanthropy, and promoting sustainable development - The company adheres to its core values, focusing on providing wireless sensing network solutions and striving to become a respected field area network expert[112](index=112&type=chunk) - During the reporting period, the company actively fulfilled its social responsibilities towards customers, employees, society, and other stakeholders[112](index=112&type=chunk) [Enhancing Corporate Governance](index=31&type=section&id=1%E3%80%81%E6%8F%90%E5%8D%87%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E6%B0%B4%E5%B9%B3) The company revised and formulated 34 corporate governance systems, including the Articles of Association, to standardize operations and improve governance - The company consistently adheres to legal and compliant operations, strictly abides by national laws and regulations, and establishes a sound internal control system[114](index=114&type=chunk) - During the reporting period, the company revised and formulated **34 corporate governance systems**, including the "Articles of Association," to enhance its governance level[114](index=114&type=chunk) [Protecting Shareholders' Legitimate Rights and Interests](index=32&type=section&id=2%E3%80%81%E4%BF%9D%E9%9A%9C%E8%82%A1%E4%B8%9C%E7%9A%84%E5%90%88%E6%B3%95%E6%9D%83%E7%9B%8A) The company ensures transparent decision-making and protects shareholders' legitimate rights by adhering to dividend policies outlined in its Articles of Association - The company strictly adheres to the dividend provisions in its "Articles of Association" to formulate reasonable and feasible profit distribution plans[115](index=115&type=chunk) - Decision-making processes are transparent, effectively safeguarding shareholders' legitimate rights and interests[115](index=115&type=chunk) [Actively Fulfilling Corporate Social Mission](index=32&type=section&id=3%E3%80%81%E5%88%87%E5%AE%9E%E5%B1%A5%E8%A1%8C%E4%BC%81%E4%B8%9A%E7%A4%BE%E4%BC%9A%E4%BD%BF%E5%91%BD) The company actively engages in philanthropy, including a **RMB 100,000** donation for scholarships and establishing university-enterprise internship bases, to contribute to community harmony and talent development - The company actively participates in public welfare, demonstrating deep care and responsibility for society through community activities and caring for vulnerable groups[116](index=116&type=chunk) - The company donated **RMB 100,000** in dedicated educational funds to the Zhou Keding Foundation of Hubei University of Technology, establishing the "Dream Realization Scholarship" to precisely assist underprivileged students[117](index=117&type=chunk) - The company simultaneously co-built university-enterprise employment internship bases, creating a platform for industry-education integration to promote talent development in sync with social progress[117](index=117&type=chunk) [Protecting the Rights and Interests of Suppliers and Customers](index=32&type=section&id=4%E3%80%81%E4%BF%9D%E6%8A%A4%E4%BE%9B%E5%BA%94%E5%95%86%E5%92%8C%E5%AE%A2%E6%88%B7%E7%9A%84%E6%9D%83%E7%9B%8A) The company adheres to principles of honesty and mutual benefit, providing reliable products and

证券日报网讯友讯达（300514）8月21日在互动平台回答投资者提问时表示，公司2023年至2024年均有 欧盟出口业务，但相关收入占公司总营收比例较低，对整体经营业绩影响不大。 ...

Group 1 - The latest stock price of the company is 13.93 yuan, an increase of 0.07 yuan from the previous trading day, with a trading range between 13.80 yuan and 13.96 yuan, and a total transaction amount of 0.42 billion yuan for the day [1][1][1] - The company operates in the power grid equipment industry, focusing on the research, development, production, and sales of smart grid communication modules and electricity information collection terminals, primarily used in the construction of electricity information collection systems in the power industry [1][1][1] Group 2 - As of July 31, the number of shareholders is 15,600, a decrease of 263 from July 18, representing a decline of 1.66%, marking the second consecutive decline since May 20, with a cumulative decline of 5.3% during this period [1][1][1] - The average number of shares held per shareholder is 10,200 shares, with an average holding value of 136,900 yuan [1][1][1] Group 3 - On August 6, the net outflow of main funds was 18,200 yuan, with a cumulative net outflow of 21,093,300 yuan over the past five trading days [1][1][1]