| 证券代码：300556 | 证券简称：丝路视觉 | 公告编号：2025-062 | | --- | --- | --- | | 债券代码：123138 | 债券简称：丝路转债 | | 丝路视觉科技股份有限公司 关于为全资子公司提供担保的进展公告 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、担保情况概述 1、担保人：丝路视觉科技股份有限公司（以下简称"公司"或"丝路视觉"） 2、被担保人：公司全资子公司深圳市丝路蓝创意展示有限公司（以下简称 "丝路蓝"） 3、担保基本情况介绍：丝路视觉于 2025 年 9 月 2 日与中国光大银行股份有 限公司深圳分行签署了《最高额保证合同》，约定为丝路蓝向中国光大银行股份 有限公司深圳分行申请金额不超过 5,000 万元的授信额度提供连带责任保证担 保。 1、被担保人名称：深圳市丝路蓝创意展示有限公司 2、成立日期：2013 年 5 月 27 日 4、公司于 2025 年 4 月 25 日召开的第五届董事会第五次会议及 2025 年 5 月 19 日召开的 2024 年年度股东大会审议通过了《关于公司为子公司提供担 ...

Core Insights - Silk Road Vision (SZ300556) reported a narrowing loss in the first half of 2025 compared to the previous year, with a net profit attributable to shareholders of -80.26 million yuan, an improvement of 26.14% year-on-year [1] - The company's revenue for the first half of 2025 was 277 million yuan, a decrease of 6.28% compared to the same period last year [1] - The gross margin for the first half of 2025 was 12.00%, an increase of 9.21 percentage points year-on-year [2] Financial Performance - The net profit attributable to shareholders for the first half of 2025 was -80.26 million yuan, compared to -108.66 million yuan in the previous year, showing a year-on-year improvement of 26.14% [1] - The net cash flow from operating activities was -26.80 million yuan, a significant improvement of 85.71% from -187.49 million yuan in the same period last year [1] - Basic earnings per share for the first half of 2025 were -0.66 yuan, an improvement of 26.67% from -0.90 yuan in the previous year [1] Expense Management - Total operating expenses for the first half of 2025 were 110 million yuan, a decrease of 17.57 million yuan compared to the previous year [2] - The expense ratio was 39.74%, down 3.45 percentage points year-on-year [2] - Sales expenses decreased by 25.45%, while management expenses increased by 6.78%, R&D expenses decreased by 36.75%, and financial expenses increased by 43.56% [2] Company Overview - Silk Road Vision was established on March 23, 2000, and is located in Shenzhen, Guangdong Province, specializing in digital visual comprehensive services based on CG creativity and technology [5] - The company was listed on November 4, 2016 [5]

Core Viewpoint - Silk Road Vision reported a decline in revenue but a narrowing of losses in the first half of 2025, continuing a trend of losses for four consecutive years, indicating ongoing profitability pressure [1]. Financial Performance - The net profit margin improved from -37.48% in the first half of 2024 to -29.47% in 2025, while the gross profit margin increased from 2.80% to 12.00%. However, the return on equity decreased to -14.61%, down 2.47 percentage points year-on-year [3]. Operational Stability - The company faced challenges with inventory turnover efficiency, with inventory turnover days increasing by 19.29% to 53.63 days compared to the first half of 2024. The net cash flow from operating activities improved to -0.27 billion from -1.87 billion in the same period last year. The debt-to-asset ratio rose to 67.91%, an increase of 11.15 percentage points year-on-year, indicating a heavier debt burden [5]. Institutional Holdings - As of the first half of 2025, the number of institutions holding Silk Road Vision's stock decreased to 2 from 28 in the same period of 2024, reflecting a decline in investor confidence. The company's market capitalization peaked at 96.20 billion in December 2016, and the current market cap of 26.50 billion would require a 262.99% increase in stock price to reach that historical high, while still being in a loss position [7].

Core Insights - The company's total revenue is 277 million yuan, with a net profit attributable to shareholders of -80.26 million yuan, an increase of 28.40 million yuan compared to the same period last year [1] - The net cash flow from operating activities is -26.80 million yuan, which is an increase of 161 million yuan compared to the same period last year [1] Financial Metrics - The latest debt-to-asset ratio is 67.91% [3] - The latest gross profit margin is 12.00%, which is an increase of 8.52 percentage points from the previous quarter and an increase of 9.21 percentage points from the same period last year [3] - The latest return on equity (ROE) is -15.71% [3] - The diluted earnings per share are -0.66 yuan, an increase of 0.24 yuan compared to the same period last year [3] - The latest total asset turnover ratio is 0.16 times, an increase of 0.02 times compared to the same period last year, representing a year-on-year increase of 14.59% [3] - The latest inventory turnover ratio is 3.36 times [3] Shareholder Information - The number of shareholders is 23,700, with the top ten shareholders holding 22.95 million shares, accounting for 18.88% of the total share capital [3] - The top shareholder is Li Mengdi, holding 13.53% of the shares [3]

Core Insights - The company, Silk Road Vision (300556), reported a total revenue of 277 million yuan for the first half of 2025, a decrease of 6.28% year-on-year, while the net profit attributable to shareholders was -80.26 million yuan, an increase of 26.14% year-on-year [1] - The company's gross margin improved significantly, with a year-on-year increase of 328.94%, reaching 12.0%, while the net margin also improved by 21.37%, reaching -29.47% [1] - The financial report indicates a mixed performance, with total expenses (selling, administrative, and financial) amounting to 86.47 million yuan, accounting for 31.22% of revenue, which is a slight increase of 2.14% year-on-year [1] Financial Performance - Revenue for Q2 2025 was 168 million yuan, down 18.93% year-on-year, and the net profit for the same period was -53.23 million yuan, a decrease of 22.4% year-on-year [1] - The company reported a significant decrease in cash and cash equivalents, down 51.79%, attributed to investments in financial products and repayment of short-term bank loans [3] - The company’s total liabilities increased by 8.72%, with interest-bearing debt reaching 410 million yuan [1][3] Cash Flow and Investment - The net cash flow from operating activities showed a significant improvement, increasing by 85.71%, due to higher cash receipts from sales and reduced cash payments to employees [3] - Investment activities saw a substantial decrease in cash flow, down 64.17%, primarily due to increased purchases of financial products [3] - The company’s cash flow from financing activities increased by 75.27%, driven by higher short-term bank loans [3] Business Model and Historical Performance - The company’s historical return on invested capital (ROIC) has been relatively low, with a median of 9.57% since its listing, and a particularly poor ROIC of -29.53% in 2024 [4] - The business model relies heavily on marketing-driven performance, necessitating further investigation into the underlying drivers of this approach [4] - The company has experienced one loss year since its IPO, indicating a need for careful analysis of its financial history [4]

Group 1 - The core viewpoint of the announcement is the disclosure of the 2025 semi-annual report by Silk Road Vision Technology Co., Ltd. on August 19, 2025, ensuring the accuracy and completeness of the information provided [1][2] - The company emphasizes that the board of directors guarantees the truthfulness, accuracy, and completeness of the disclosed information, with no false records, misleading statements, or significant omissions [1] - Investors are advised to review the semi-annual report published on the designated information disclosure website for the Growth Enterprise Market [1]

Group 1 - The company, Silk Road Vision, reported a revenue of 276,947,974.55 yuan for the first half of 2025, representing a year-on-year decrease of 6.28% [2] - The net profit attributable to shareholders of the listed company was -80,260,288.91 yuan [2]

Group 1 - The company, Silk Road Vision, announced that it will hold its first extraordinary general meeting of shareholders for 2025 on September 3, 2025 [2] - The agenda for the meeting includes the proposal to change the use of part of the raised funds among other resolutions [2]

Core Viewpoint - Silk Road Vision announced the decision to reappoint Zhengdan Zhiyuan (Shenzhen) Accounting Firm as the financial statement audit institution and internal control audit institution for the fiscal year 2025 during the seventh meeting of the fifth board of directors held on August 18, 2025 [2] Group 1 - The board meeting took place on August 18, 2025 [2] - The proposal for reappointment was approved during the meeting [2] - The reappointment is specifically for the fiscal year 2025 [2]

Core Viewpoint - Silk Road Vision announced a change in the use of raised funds due to the delay in the "Chongqing Fuling Exhibition Center" project, reallocating 28 million yuan to the "Shenzhen Natural History Museum Project" instead [2]. Group 1: Fund Allocation Changes - The company held meetings on August 18, 2025, to approve the proposal to change the use of part of the raised funds [2]. - The "Chongqing Fuling Exhibition Center" project has not started as scheduled, prompting the decision to improve the efficiency of fund usage [2]. - The company’s wholly-owned subsidiary, Silk Road Blue, received a bid notification for the "Shenzhen Natural History Museum Project" with a bid amount of 68.1251 million yuan [2]. Group 2: Compliance and Transactions - The change in fund allocation does not constitute a related party transaction [2]. - The decision does not fall under the significant asset restructuring regulations as per the "Measures for the Administration of Major Asset Restructuring of Listed Companies" [2].