（编辑 袁冠琳） 证券日报网讯 万集科技9月8日在互动平台回答投资者提问时表示，截至2025年6月末，公司尚未使用的 募集资金余额为7，449.28万元。车载激光雷达方面，公司192线车载激光雷达已构建起涵盖设计、制 造、测试的国产化一体化体系，并通过多家主流车企厂平台验证，具备前装量产能力。公司将积极进行 项目推介，力争获得前装量产项目定点。 ...

（编辑 王雪儿） 证券日报网讯 万集科技9月8日在互动平台回答投资者提问时表示，公司重大事项均以公司通过指定信 息披露媒体发布的正式公告为准。公司深度参与全国车路云一体化试点城市建设，围绕城市智慧化发展 与车路协同基础设施建设协同复用需求，打造多感合一基础设施建设方案，推动车路协同数据在交通管 理业务中的高效转化，为交通治理提供更加丰富的管理评价指标与事件数据支撑。公司方案也应用在海 南、无锡、苏州、成都等城市，公司将持续关注车路云一体化项目的进展与商机，积极把握市场机会。 ...

证券日报网讯 万集科技（300552）9月8日在互动平台回答投资者提问时表示，公司将持续关注行业政 策，积极把握行业发展机遇，为公司带来新的增长点。 ...

证券日报网讯万集科技9月8日在互动平台回答投资者提问时表示，2025年半年度公司激光雷达营收5， 877.20万元，较上年同期增长54.56%。公司激光雷达广泛应用于工业机器人以及商用服务机器人，出货 量持续增长。同时，公司也在积极探索激光雷达在其他行业的应用，如智能割草机、低空经济及具身机 器人等，将公司更多激光雷达送测并不断优化改进。 （文章来源：证券日报） ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问公司作为国内激光雷达龙头企业，有没有对车载 舱内激光雷达产品的研究以及开发呢？ 万集科技（300552.SZ）9月8日在投资者互动平台表示，公司当前车载激光雷达产品以车规级前装应用 为核心，研发重点围绕车外环境感知，未来将根据行业技术大趋势和客户需求，持续拓展产品应用场 景。 ...

Summary of the Conference Call for Wanji Technology Company Overview - **Company**: Wanji Technology - **Industry**: Intelligent Transportation and Automation Solutions Key Financial Metrics - **Revenue**: 421 million CNY in H1 2025, a year-on-year increase of over 10% [2][4] - **Net Profit**: -100 million CNY, a year-on-year improvement of 32% [4][23] - **Gross Margin**: 31.42% in H1 2025, up 3.3% year-on-year [2][9] Business Segments Performance - **ETC (Electronic Toll Collection)**: Revenue of 252 million CNY, with a gross margin of 29.7%, up 5.05% [4][9] - **Dynamic Weighing**: Revenue of 85.63 million CNY, with a gross margin of 38.14%, up 3.55% [4][9] - **LiDAR (Laser Radar)**: Revenue of 58.77 million CNY, with a stable gross margin of 32.05% [4][9] - **Intelligent Networking**: Revenue of 24.19 million CNY, with a gross margin of 23.41%, showing a decline [4][9][17] Market Position and Competitive Advantage - **ETC Market Share**: Over 80% [2][7] - **Dynamic Weighing Market Position**: Among the top three [2][7] - **LiDAR Breakthroughs**: Significant advancements in the industrial sector [2][7] Technological Capabilities - **Integrated Vehicle-Road-Cloud Solutions**: Comprehensive technical capabilities in vehicle, road, cloud, network, and mapping technologies [2][5] - **Core Competencies**: Real-time dynamic digital twin capabilities, vehicle-road collaboration, and safety warning systems [5][11] Strategic Initiatives - **Cost Control**: Focus on enhancing product gross margins and managing operational costs [11][24] - **Investment in Emerging Fields**: Increased focus on industrial LiDAR and intelligent networking [11] - **Ecosystem Collaboration**: Partnerships with AI, autonomous driving, and traffic simulation sectors to drive innovation [6][11] Policy Impact - **Equipment Update Policies**: Benefiting from government initiatives aimed at digital transformation in transportation, leading to the establishment of over 50 digital tunnels and numerous digital toll stations [12][13] R&D and Future Outlook - **R&D Investment**: 119 million CNY in H1 2025, a decrease of 6.6% year-on-year, reflecting improved efficiency in converting R&D into revenue [8][21] - **Future Plans**: Continued focus on core business development and market expansion, particularly in intelligent networking and industrial applications [11][12] Challenges and Risks - **Fluctuating Margins**: Variability in gross margins across different business segments, particularly in intelligent networking due to project-specific costs [17] - **Cash Flow Management**: Cash flow net amount of -120 million CNY, with plans to enhance revenue and accelerate receivables collection [24] Conclusion - **Overall Performance**: The company is on a path to recovery with a focus on strategic growth areas, cost management, and leveraging technological advancements to enhance market position and operational efficiency [23][24]

Financial Performance - In the first half of 2025, the company's revenue reached 421,132,031.03 yuan, representing a year-on-year increase of 11.47% compared to 377,798,744.64 yuan in the same period last year [2] - The net loss attributable to shareholders narrowed to 100,325,453.64 yuan, a 32.98% improvement from a loss of 149,691,342.08 yuan in the previous year [2] - The net loss after excluding non-recurring gains and losses was 119,211,217.61 yuan, a reduction of 24.4% from 157,686,042.73 yuan in the same period last year [2] - The net cash flow from operating activities was -120,371,178.66 yuan, improving by 18.88% from -148,389,845.51 yuan year-on-year [2] - Basic and diluted earnings per share were both -0.4707 yuan, showing a 32.98% improvement from -0.7023 yuan in the previous year [2] - Total assets as of the end of the reporting period were 2,820,705,805.12 yuan, down 3.78% from 2,931,470,228.46 yuan at the end of the previous year [2] - Net assets attributable to shareholders decreased by 5.25% to 1,811,756,928.57 yuan from 1,912,088,386.42 yuan at the end of the previous year [2] Industry Applications - The company actively participated in integrated vehicle-road-cloud pilot city projects, including initiatives in Hainan, Wuxi, Chengdu, and Suzhou, enhancing smart infrastructure for intelligent connected vehicles [3] - A three-tier smart governance system was established, aiding in the creation of an industry-leading "AI + perception + Internet" traffic control optimization demonstration area in Jinan [3] - The company launched various digital traffic solutions, such as network operation monitoring and proactive control of mainline channels, which have been recognized by the market and clients [3] - The digital tunnel solutions have been implemented in multiple provinces, improving safety management and emergency response efficiency in tunnels [3] - The company is expanding its market share in smart station scenarios, with digital toll station solutions gaining consensus among provinces undergoing digital transformation [3] Automotive Electronics - The company capitalized on the opportunity of end-to-end assisted driving in the new energy vehicle sector by integrating front-mounted ETC and intelligent driving systems [4] - Long-term collaborations were established with several international car manufacturers for the standardization of front-mounted ETC in their vehicles [4] - The company’s solid-state laser radar products have been applied in low-speed autonomous driving scenarios, addressing blind spots and enhancing navigation accuracy [4] - A comprehensive domestic production system for 192-line vehicle-mounted laser radar has been developed, validated by major automotive platforms, and is ready for mass production [4] - The company is accelerating the R&D of silicon-based solid-state laser radar OPA products to enhance chip integration and achieve more technological breakthroughs [4]

Core Viewpoint - Wanji Technology (300552) reported a revenue increase of 11.47% year-on-year for the first half of 2025, with total revenue reaching 421 million yuan, while the net profit attributable to shareholders improved by 32.98% to -100 million yuan [1] Financial Performance - Total revenue for the second quarter of 2025 was 231 million yuan, reflecting a year-on-year increase of 5.82% [1] - Gross profit margin increased by 11.87% year-on-year to 31.42%, while the net profit margin improved by 39.55% to -23.41% [1] - Total expenses (selling, administrative, and financial) amounted to 155 million yuan, accounting for 36.69% of revenue, a decrease of 4.98% year-on-year [1] - Earnings per share improved by 32.98% to -0.47 yuan, while operating cash flow per share increased by 18.88% to -0.56 yuan [1] Cash Flow and Financial Health - Cash and cash equivalents increased by 148.96% to 132.9 million yuan, while accounts receivable decreased by 14.78% to 88.8 million yuan [1] - The company’s net cash flow from investment activities decreased significantly by 925.59% due to increased cash outflows for investments [2] - The net increase in cash and cash equivalents rose by 33.97%, influenced by the combined effects of operating, investing, and financing activities [2] Business Model and Historical Performance - The company relies heavily on research and development for its business performance, which requires careful examination of the underlying drivers [2] - Historical data indicates a median Return on Invested Capital (ROIC) of 8.24%, with the worst year being 2024, showing a ROIC of -16.8% [2] - The company has reported losses in three out of eight years since its listing, indicating a fragile business model [2]

Group 1 - The company, Wanjie Technology, announced the appointment of Mr. Yuan Zhiwei as the Deputy General Manager, approved by the board of directors [1] - For the first half of 2025, the company's revenue composition is entirely from the intelligent transportation industry, accounting for 100.0% [1]

Group 1 - The company, Wanji Technology, announced the acquisition of 10 invention patents from the National Intellectual Property Administration, covering multiple technology areas including intelligent connected vehicles, ETC, and laser technology [2] - The patents were awarded to both the company and its subsidiaries, Wuhan Wanji Optoelectronic Technology Co., Ltd. and Suzhou Wanji Vehicle Networking Technology Co., Ltd. [2] - This development indicates the company's commitment to innovation and strengthening its position in the technology sector [2] Group 2 - The patents are expected to enhance the company's technological capabilities and potentially lead to new business opportunities in the intelligent transportation and connected vehicle markets [2] - The focus on areas such as intelligent networking and laser technology aligns with current industry trends towards automation and smart transportation solutions [2] - This strategic move may also improve the company's competitive edge in the rapidly evolving tech landscape [2]