杭州平治信息技术股份有限公司 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 编制单位：杭州平治信息技术股份有限公司 单位：人民币元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 司的 | 上市公司核算的 | 2025 年期初 | 2025年1-6月占用累计 | 2025年1-6月占用资 | 2025 年 1-6 月偿还累 | 2025 年 6 月末 | 占用形 | 占用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 会计 | 占用资金余额 | 发生金额 | 金的利息（如有） | 计发生金额 | 占用资金余额 | 成原因 | 性质 | | | | 关联关系 | 科目 | | （不含利息） | | | | | | | 现大股东及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前大股东及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 总计 | ...

| 务关系的具有法律约束力的文件，对 | 务关系的具有法律约束力的文件，对 | | --- | --- | | 公司、股东、董事、监事、高级管理 | 公司、股东、董事、高级管理人员具 | | 人员具有法律约束力的文件。依据本 | 有法律约束力。依据本章程，股东可 | | 章程，股东可以起诉股东，股东可以 | 以起诉股东，股东可以起诉公司董事、 | | 起诉公司董事、监事、总经理和其他 | 高级管理人员，股东可以起诉公司， | | 高级管理人员，股东可以起诉公司， | 公司可以起诉股东、董事和高级管理 | | 公司可以起诉股东、董事、监事、总 | 人员。 | | 经理和其他高级管理人员。 | | | 第十三条 本章程所称其他高级 | 第十四条 本章程所称高级管理 | | 管理人员是指公司的总经理、副总经 | 人员是指公司的总经理、副总经理、 | | 理、董事会秘书、财务负责人。 | 董事会秘书、财务负责人 | | 第十六条 经依法登记，公司的经 | 第十七条 经依法登记，公司的经 | | 营范围服务：许可项目：第一类增值 | 营范围：许可项目：第一类增值电信 | | 电信业务；第二类增值电信业务；网 | 业务； ...

杭州平治信息技术股份有限公司 章程修正案 根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上市公司 章程指引》、《深圳证券交易所创业板股票上市规则》、《上市公司独立董事管 理办法》、《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司 规范运作》等法律、法规和规范性文件的有关规定，结合公司实际情况，对《公 司章程》进行系统性的梳理、增减与修改，并提请股东大会授权董事会办理章程 修订后的工商变更事宜，公司章程具体修订情况如下： | 修订前 | 修订后 | | --- | --- | | 第一条 为维护杭州平治信息技 | 第一条 为维护杭州平治信息技 | | 术股份有限公司（以下简称"公司" | 术股份有限公司（以下简称"公司" | | 或"本公司"）、公司股东和债权人 | 或"本公司"）、公司股东、职工和 | | 的合法权益，规范公司的组织和行为， | 债权人的合法权益，规范公司的组织 | | 根据《中华人民共和国公司法》（以 | 和行为，根据《中华人民共和国公司 | | 下简称"《公司法》"）、《中华人 | 法》（以下简称""《公司法》""）、 | | 民共和国证券法》（以下简称《证券 | ...

1、股东大会届次：2025年第二次临时股东大会 2、股东大会的召集人：公司董事会。 3、会议召开的合法、合规性：本次股东大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规定 证券代码：300571 证券简称：平治信息 公告编号：2025-047 杭州平治信息技术股份有限公司 关于召开 2025 年第二次临时股东大会的通知 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 杭州平治信息技术股份有限公司（以下简称"公司"）第五届董事会第三次 会议决定于2025年9月15日（星期一）召开2025年第二次临时股东大会，现将本 次会议有关事项通知如下： 一、会议基本情况 4、会议召开的日期、时间： （1）现场会议召开时间为：2025年9月15日（星期一）下午14：00 （2）网络投票时间为：2025年9月15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15日上午9:15-9:25，9:30-11:30和下午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15日上午9: ...

证券代码：300571 证券简称：平治信息 公告编号：2025-043 杭州平治信息技术股份有限公司 第五届监事会第三次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 该议案具体内容详见同日刊登在巨潮资讯网（www.cninfo.com.cn）的《杭 州平治信息技术股份有限公司 2025 年半年度报告》（公告编号：2025-044）及《杭 州平治信息技术股份有限公司 2025 年半年度报告摘要》（公告编号：2025-045）。 一、监事会会议召开情况 杭州平治信息技术股份有限公司（以下简称"公司"）第五届监事会第三次 会议的会议通知于2025年8月18日以电话、即时通讯及电子邮件等方式发出。本 次会议于2025年8月28日以现场会议的方式在公司会议室召开，会议应参加监事3 人，实际参加监事3人。 本次会议由监事会主席高鹏先生主持，公司董事会秘书列席了本次会议。 本次监事会会议的召开符合有关法律、行政法规、部门规章、规范性文件和 公司章程的规定。 会议审议并通过以下议案： 二、监事会会议审议情况 （一）审议通过《公司2025年半年度报告及其摘要的议案》 ...

证券代码：300571 证券简称：平治信息 公告编号：2025-042 杭州平治信息技术股份有限公司 第五届董事会第三次会议决议公告 本公司及董事会全体成员保证公告内容真实、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 杭州平治信息技术股份有限公司（以下称"公司"）第五届董事会第三次会议 的会议通知于2025年8月18日以电话、即时通讯及电子邮件等方式发出。本次会 议于2025年8月28日以现场会议方式在公司会议室召开。会议应参加董事5人，实 际参加董事5人。 本次会议由董事长郭庆先生主持，公司监事、高级管理人员列席了本次会议。 本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性文件和 公司章程的规定。 二、董事会会议审议情况 （一）审议通过《公司2025年半年度报告及其摘要的议案》 经过认真审议，董事会认为公司编制的杭州平治信息技术股份有限公司2025 年半年度报告的程序符合法律、行政法规和中国证监会的规定，报告内容真实、 准确、完整地反映了上市公司的实际情况，不存在任何虚假记载、误导性陈述或 者重大遗漏。该议案具体内容详见同日刊登在巨潮资讯网（www.cninfo. ...

Section I Important Notice, Table of Contents, and Definitions This section presents crucial disclaimers, the report's structure, reference documents, 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 company's board, supervisory board, and senior management guarantee the semi-annual report's accuracy and completeness, and plan no cash dividends or bonus shares. - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[3](index=3&type=chunk) - Company Person in Charge Guo Qing, Chief Accountant Pan Aibin, and Head of Accounting Department Pan Aibin declare that the financial report in this semi-annual report is true, accurate, and complete[3](index=3&type=chunk) - The company plans **not to distribute cash dividends**, **not to issue bonus shares**, and **not to convert capital reserves into share capital**[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section lists the report's structure, including eight main chapters such as company profile, management discussion and analysis, corporate governance, significant events, share changes, bond information, and financial reports. [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 semi-annual report text, accounting statements, publicly disclosed documents, and other related materials as reference documents, specifying the company's board office as the storage location. - Reference documents include the semi-annual report text signed by the legal representative, signed and sealed accounting statements, originals of all publicly disclosed company documents and announcements, and other relevant materials[8](index=8&type=chunk)[9](index=9&type=chunk)[10](index=10&type=chunk)[11](index=11&type=chunk) - The aforementioned reference documents are available at the company's Board of Directors Office[12](index=12&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section provides definitions for common terms used in the report, including company names, regulatory bodies, laws, reporting period, currency units, and communication and technology-related professional terms. - The reporting period refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) - Communication operators refer to companies providing fixed-line, mobile, and internet access communication services, including China Mobile, China Telecom, and China Unicom[13](index=13&type=chunk) - New infrastructure primarily refers to new types of infrastructure represented by 5G, artificial intelligence, industrial internet, and the Internet of Things[13](index=13&type=chunk) Section II Company Profile and Key Financial Indicators This section presents the company's profile, contact details, and key financial performance indicators for the reporting period. [I. Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) The company, Hangzhou Pingzhi Information Technology Co., Ltd., with stock code 300571, is listed on the Shenzhen Stock Exchange, and its legal representative is Guo Qing. Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Pingzhi Information | | Stock Code | 300571 | | Stock Exchange | Shenzhen Stock Exchange | | Chinese Name | Hangzhou Pingzhi Information Technology Co., Ltd. | | Legal Representative | Guo Qing | [II. Contact Persons and Information](index=6&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) The company's Board Secretary is Pan Aibin and Securities Affairs Representative is Dai Wenwen, both located at 101 Qinguo Street, Fuyang District, Hangzhou, Zhejiang, with consistent contact numbers and email. Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Pan Aibin | 101 Qinguo Street, Fuyang District, Hangzhou, Zhejiang Province | 0571-88939703 | 0571-88939705 | pingzhi@tiansign.com | | Securities Affairs Representative | Dai Wenwen | 101 Qinguo Street, Fuyang District, Hangzhou, Zhejiang Province | 0571-88939703 | 0571-88939705 | pingzhi@tiansign.com | [III. Other Information](index=6&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) The company's registered address, office address, website, email, information disclosure, and registration status remained unchanged during the reporting period, as detailed in the 2024 annual report. - The company's registered address, office address, website, and email remained unchanged during the reporting period[18](index=18&type=chunk) - Information disclosure and storage locations remained unchanged during the reporting period[19](index=19&type=chunk) - The company's registration status remained unchanged during the reporting period[20](index=20&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&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) This reporting period saw a 34.64% decrease in operating revenue, but a significant **331.48% increase in net profit** attributable to shareholders and a **733.23% increase in non-recurring net profit**, alongside an 18.16% rise in net operating cash flow and a 32.61% increase in total assets. Key Accounting Data and Financial Indicators (Current Reporting Period vs. Prior Year Period) | Indicator | Current Reporting Period (Yuan) | Prior Year Period (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 579,877,945.14 | 887,196,531.41 | -34.64% | | Net Profit Attributable to Shareholders of Listed Company | 13,097,754.78 | 3,035,539.67 | 331.48% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | 19,461,395.80 | 2,335,667.29 | 733.23% | | Net Cash Flow from Operating Activities | 185,814,483.05 | 157,251,592.38 | 18.16% | | Basic Earnings Per Share (Yuan/share) | 0.09 | 0.02 | 350.00% | | Diluted Earnings Per Share (Yuan/share) | 0.09 | 0.02 | 350.00% | | Weighted Average Return on Net Assets | 0.90% | 0.19% | 0.71% | Key Accounting Data and Financial Indicators (End of Current Reporting Period vs. End of Prior Year) | Indicator | End of Current Reporting Period (Yuan) | End of Prior Year (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 4,715,334,270.23 | 3,555,781,214.00 | 32.61% | | Net Assets Attributable to Shareholders of Listed Company | 1,458,717,452.93 | 1,445,619,698.15 | 0.91% | [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&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) During the reporting period, the company reported no differences in net profit and net assets between financial statements prepared under international or overseas accounting standards and those under Chinese accounting standards. - The company's financial reports for the reporting period show no differences in net profit and net assets between international accounting standards and Chinese accounting standards[22](index=22&type=chunk) - The company's financial reports for the reporting period show no differences in net profit and net assets between overseas accounting standards and Chinese accounting standards[23](index=23&type=chunk) [VI. Non-recurring Gains and Losses and Amounts](index=7&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) Non-recurring gains and losses for this reporting period primarily include government subsidies, other non-operating income and expenses, and income tax impact, totaling **-6,363,641.02 Yuan**. Non-recurring Gains and Losses and Amounts | Item | Amount (Yuan) | | :--- | :--- | | Government subsidies included in current profit and loss (excluding those closely related to normal business operations, compliant with national policies, enjoyed according to established standards, and having a continuous impact on the company's profit and loss) | 200,120.00 | | Other non-operating income and expenses apart from the above items | -6,818,817.42 | | Less: Income tax impact | -254,999.27 | | Impact on minority interests (after tax) | -57.13 | | **Total** | **-6,363,641.02** | - The company has no other profit and loss items that meet the definition of non-recurring gains and losses, nor does it classify non-recurring gains and losses as recurring profit and loss items[26](index=26&type=chunk) Section III Management Discussion and Analysis This section analyzes the company's main business, core competencies, financial performance, investments, and risk factors during the reporting period. [I. Main Business Activities During the Reporting Period](index=9&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) In the first half of 2025, the company actively transformed into a computing power service provider for the three major communication operators, while continuing to develop communication equipment and operator equity businesses, making significant progress in computing power, AI applications, and communication network construction. [(I) Industry Overview During the Reporting Period](index=9&type=section&id=(%E4%B8%80)%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) In H1 2025, computing power became a core digital economy productivity, with China's intelligent computing power expected to reach 2781.9 EFLOPS by 2028, driven by increased investment from operators and cloud service providers, AI application breakthroughs, and expanding 5G and IoT user bases. - In the first half of 2025, computing power has become the core productivity of the digital economy, with China's intelligent computing power scale projected to reach **2781.9 EFLOPS by 2028**, representing a compound annual growth rate of **46.2% from 2023-2028**[28](index=28&type=chunk) - Communication operators and cloud service providers are increasing capital investment in computing power, with China Mobile planning to invest **37.3 billion Yuan** in pre-training resources by 2025, and Alibaba investing **380 billion Yuan** in cloud and AI hardware infrastructure over the next three years[29](index=29&type=chunk) - In the first half of 2025, the AI application field showed vigorous development, driven by technological breakthroughs, market demand, and policy support, with the State Council passing the "Opinions on Deeply Implementing the 'AI+' Action"[30](index=30&type=chunk) - As of the end of June, the total number of 5G base stations nationwide reached **4.549 million**, a net increase of **298,000** from the end of last year; gigabit optical fiber access (FTTH/O) ports reached **1.193 billion**, a net increase of **32.64 million** from the end of last year[31](index=31&type=chunk) [(II) Main Businesses Engaged in by the Company During the Reporting Period](index=10&type=section&id=(%E4%BA%8C)%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company has transformed into a computing power service provider for the three major communication operators, focusing on computing power services and general server sales, alongside traditional communication equipment (smart terminals, 5G products) and operator equity businesses. - The company began its transformation into the computing power business in 2023 and has now become a computing power service provider for the three major communication operators[32](index=32&type=chunk) - The company's computing power business primarily includes two models: general server sales and computing power services, with computing power services being the main development direction[32](index=32&type=chunk) - The company's other communication business products mainly include communication equipment (smart terminal devices, 5G communication products) and operator equity businesses[33](index=33&type=chunk) [(III) Company's Business Model During the Reporting Period](index=10&type=section&id=(%E4%B8%89)%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company adopts a "production-to-order" model, developing new products based on market demand and new technology trends, collaborating with universities and research institutions for innovation, and primarily selling directly to domestic communication operators through bidding. - The company relies on business development needs, combined with industry new technology trends, to continuously research and develop new products, and actively seeks technical cooperation with universities and research institutes[34](index=34&type=chunk) - The company implements a "production-to-order" production model, arranging production plans based on orders[35](index=35&type=chunk) - The company's sales model is primarily direct sales, with domestic communication operators as its main customers, acquiring orders through bidding[38](index=38&type=chunk) [(IV) Company's Market Position](index=11&type=section&id=(%E5%9B%9B)%E5%85%AC%E5%8F%B8%E5%B8%82%E5%9C%BA%E5%9C%B0%E4%BD%8D) The company is recognized by communication operators for its quality products, comprehensive marketing and service network, and technological advantages, being a top-tier supplier for smart home products and having shipped 5G base station antennas and small base stations on a large scale, with over **2.2 billion Yuan** in computing power service orders. - The company's smart home business series products are among the **first-tier suppliers** for China Mobile and China Telecom[39](index=39&type=chunk) - The company's 5G base station antenna and 5G small base station products have been shipped on a large scale, with continuous expansion of its product lines[39](index=39&type=chunk) - As of the disclosure date of this report, the company has cumulatively signed over **2.2 billion Yuan** in computing power business orders, with customer types mainly including communication operators and cloud service providers[39](index=39&type=chunk)[41](index=41&type=chunk) [(V) Analysis of Company's Main Business and Performance Drivers](index=11&type=section&id=(%E4%BA%94)%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90%E5%8F%8A%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) In H1 2025, the company achieved **580 million Yuan** in operating revenue and **13.10 million Yuan** in net profit attributable to shareholders, a **331.48% year-on-year increase**, driven by rapid development of computing power business, continuous R&D innovation, active deployment of AI companion products, and establishment of urban low-altitude drone intelligent service systems. - From January to June 2025, the company achieved operating revenue of **580 million Yuan** and net profit attributable to shareholders of **13.10 million Yuan**, a **331.48% increase** compared to the same period last year[40](index=40&type=chunk) - The rapid development of the computing power business, with cumulative signed orders exceeding **2.2 billion Yuan**, contributes stable revenue to the company[41](index=41&type=chunk) - The company continues to increase R&D investment, constantly advancing product iteration in broadband network terminal equipment such as smart home gateways and smart set-top boxes, while its subsidiary Tianxin Electronics focuses on R&D of domestic general servers and industrial computer products[42](index=42&type=chunk) - The company is actively deploying AI companion products, having completed sample development, and signed a strategic cooperation agreement with China Mobile Zhejiang Huzhou Branch to jointly build an urban low-altitude drone intelligent service system[43](index=43&type=chunk)[44](index=44&type=chunk) [II. Analysis of Core Competencies](index=13&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 competencies include deep cooperation with communication operators, a comprehensive qualification and certification system, continuous product and technology R&D innovation, a nationwide marketing and after-sales service network, and efficient supply chain and cost management capabilities. - The company with domestic communication operators established a deep, mutually beneficial cooperation model, being one of their qualified and main suppliers[47](index=47&type=chunk) - The company has obtained relevant qualifications and certifications required for communication equipment production and sales, including ISO9000 series, radio transmission equipment type approval certificates, network access licenses, and 3C certification[48](index=48&type=chunk)[49](index=49&type=chunk) - The company adheres to a market-oriented and customer-centric approach, forming a rapid response and efficient R&D system, and has signed a strategic cooperation agreement with Zhipu AI to deploy embodied intelligent robots; as of the end of the reporting period, the company cumulatively holds **205 patents**[50](index=50&type=chunk) - The company possesses a comprehensive marketing service network, with products and after-sales services covering **31 provinces and municipalities nationwide**[51](index=51&type=chunk) - The company has a robust supply chain assurance management system, establishing long-term strategic cooperative relationships with suppliers to ensure priority material supply and price support[52](index=52&type=chunk) [III. Analysis of Main Business](index=14&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) This reporting period, the company's operating revenue decreased by **34.64%** due to intense competition in broadband network terminal equipment manufacturing, yet R&D investment increased by **34.44%**, net operating cash flow grew by **18.16%**, and computing power business gross margin significantly improved by **27.68%**. Year-on-Year Changes in Key Financial Data | Item | Current Reporting Period (Yuan) | Prior Year Period (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 579,877,945.14 | 887,196,531.41 | -34.64% | Intense market competition in broadband network terminal equipment manufacturing business, leading to decreased revenue | | Operating Cost | 503,184,057.89 | 808,248,813.03 | -37.74% | Decreased revenue, corresponding reduction in costs | | Selling Expenses | 6,575,797.35 | 13,473,825.43 | -51.20% | Decreased revenue from communication equipment manufacturing business, reduced salaries and marketing expenses | | Financial Expenses | 27,081,946.71 | 21,883,446.24 | 23.76% | Increased financing interest year-on-year | | Income Tax Expense | 11,368,701.13 | 2,149,958.38 | 428.79% | Increased deferred income tax expense | | R&D Investment | 19,121,614.23 | 14,222,962.62 | 34.44% | Increased depreciation of R&D equipment | | Net Cash Flow from Operating Activities | 185,814,483.05 | 157,251,592.38 | 18.16% | Recovered more receivables | | Net Cash Flow from Investing Activities | -1,008,161,521.07 | -385,820,540.49 | 161.30% | Increased investment in computing power business year-on-year | | Net Cash Flow from Financing Activities | 885,313,900.91 | 142,703,373.38 | 520.39% | Increased financing | | Net Increase in Cash and Cash Equivalents | 63,117,264.19 | -85,799,521.01 | 173.56% | Increased collection of receivables and increased financing | Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Communication Equipment Manufacturing | 401,787,745.35 | 379,808,780.66 | 5.47% | -32.26% | -30.50% | -2.40% | | Operator Equity Business | 102,951,686.29 | 79,507,315.75 | 22.77% | -39.00% | -48.36% | 14.00% | | Computing Power Business | 75,138,513.50 | 43,867,961.48 | 41.62% | -40.01% | -59.30% | 27.68% | - The company's profit composition or sources of profit have not undergone significant changes during the reporting period[55](index=55&type=chunk) [IV. Analysis of Non-Core Business](index=16&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) During the reporting period, the company had no non-core business activities to analyze. [V. Analysis of Assets and Liabilities](index=16&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) At the end of the reporting period, the company's total assets increased by **32.61%** year-on-year, primarily due to increased investment in computing power projects, leading to significant growth in fixed assets and construction in progress, while accounts receivable and inventory decreased, and both short-term and long-term borrowings increased. Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (Yuan) | Proportion of Total Assets | Amount at End of Prior Year (Yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 230,165,348.42 | 4.88% | 141,024,728.17 | 3.97% | 0.91% | | | Accounts Receivable | 1,252,872,213.64 | 26.57% | 1,411,269,402.06 | 39.69% | -13.12% | Recovery of accounts receivable and growth in company assets | | Inventories | 356,606,183.90 | 7.56% | 592,764,088.60 | 16.67% | -9.11% | Acceptance and transfer of some computing power projects | | Fixed Assets | 1,502,329,869.11 | 31.86% | 355,225,570.88 | 9.99% | 21.87% | Increased investment in company's computing power projects | | Construction in Progress | 250,000,353.55 | 5.30% | 313,025.82 | 0.01% | 5.29% | Increased investment in company's computing power projects | | Short-term Borrowings | 881,779,029.17 | 18.70% | 681,830,410.07 | 19.18% | -0.48% | Increased bank borrowings | | Long-term Borrowings | 405,749,191.97 | 8.60% | 248,600,000.00 | 6.99% | 1.61% | Increased bank borrowings | - The company had no significant overseas assets during the reporting period[60](index=60&type=chunk) Assets and Liabilities Measured at Fair Value | Item | Opening Balance (Yuan) | Fair Value Change in Current Period (Yuan) | Cumulative Fair Value Change Included in Equity (Yuan) | Amount Purchased in Current Period (Yuan) | Closing Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Other Equity Instrument Investments | 80,667,914.48 | 1,130,997.08 | | 3,000,000.00 | 83,667,914.48 | | **Total** | **80,667,914.48** | **1,130,997.08** | | **3,000,000.00** | **83,667,914.48** | - Details of restricted asset rights as of the end of the reporting period are provided in Section VIII, Item 7, Note 31[62](index=62&type=chunk) [VI. Analysis of Investment Status](index=17&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 amounted to **1,013,617,454.07 Yuan**, a **168.81% year-on-year increase**, primarily due to increased investment in computing power business, with no significant equity investments, non-equity investments, financial assets measured at fair value, use of raised funds, entrusted wealth management, derivative investments, or entrusted loans. Year-on-Year Changes in Investment Amount | Indicator | Investment Amount in Current Reporting Period (Yuan) | Investment Amount in Prior Year Period (Yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Investment Amount | 1,013,617,454.07 | 377,082,390.00 | 168.81% | - The company had no significant equity investments, non-equity investments, financial assets measured at fair value, use of raised funds, entrusted wealth management, derivative investments, or entrusted loans during the reporting period[64](index=64&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk)[67](index=67&type=chunk) [VII. Significant Asset and Equity Sales](index=18&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) During the reporting period, the company did not engage in any significant asset or equity sales. - The company did not sell significant assets during the reporting period[68](index=68&type=chunk) - The company did not sell significant equity during the reporting period[69](index=69&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=18&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) Shenzhen Zhaoneng Xuntong Technology Co., Ltd., a major subsidiary focusing on smart home business, reported a net profit of **30,093,163.29 Yuan**; during the reporting period, the company transferred Pingzhi Ruiying Microelectronics Technology (Nanjing) Co., Ltd. and deregistered Beijing Nanying Beiqi Technology Co., Ltd., neither of which had a significant impact. Financial Performance of Major Subsidiaries | Company Name | Company Type | Main Business | Registered Capital (Yuan) | Total Assets (Yuan) | Net Assets (Yuan) | Operating Revenue (Yuan) | Operating Profit (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Zhaoneng Xuntong Technology Co., Ltd. | Subsidiary | Smart Home Business | 458,200,000.00 | 1,997,260,828.43 | 741,379,134.37 | 522,642,517.10 | 40,153,164.77 | 30,093,163.29 | - During the reporting period, the company transferred Pingzhi Ruiying Microelectronics Technology (Nanjing) Co., Ltd. and deregistered Beijing Nanying Beiqi Technology Co., Ltd., neither of which had a significant impact on overall production, operations, or performance[70](index=70&type=chunk) [IX. Information on Structured Entities Controlled by the Company](index=18&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) During the reporting period, the company had no structured entities under its control. [X. Risks Faced by the Company and Countermeasures](index=18&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 faces risks including high customer concentration, bidding failures, product price fluctuations, rapid technological updates and talent loss, raw material price volatility, accounts receivable recovery, and product quality control, which it addresses through market expansion, product structure optimization, internal management, and R&D investment. - The company's computing power service business and communication business primarily serve domestic communication operators, posing a risk of high revenue concentration; the company will strengthen market expansion and actively develop new customers[71](index=71&type=chunk)[72](index=72&type=chunk) - Communication operators' procurement mainly adopts bidding policies, exposing the company to risks of performance fluctuations due to unsuccessful bids or decreased bid success rates; the company will increase market and new customer development efforts, optimize product structure, and strengthen bidding management[73](index=73&type=chunk) - The company faces the risk of product price decreases or fluctuations; the company will mitigate risks by strengthening internal management, technological and product innovation, and improving supply chain procurement mechanisms[74](index=74&type=chunk) - The communication equipment manufacturing industry experiences rapid technological updates, posing risks of technological iteration and loss for the company; the company will continuously track the latest technologies, increase R&D investment, and attract core talent[75](index=75&type=chunk)[76](index=76&type=chunk) - Prices of major raw materials for communication equipment and computing power service businesses fluctuate, exposing the company to raw material price volatility risks; the company will control risks through product and technology R&D and diversified procurement models[77](index=77&type=chunk) - The company's accounts receivable balance was substantial at the end of the reporting period, posing collection risks; the company will strengthen accounts receivable collection assessments to reduce collection risks[78](index=78&type=chunk) - The company faces product quality control risks; the company will strictly adhere to quality management system requirements in its production and operation activities and establish a full-process quality control system[79](index=79&type=chunk) [XI. Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=20&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) During the reporting period, the company hosted three research activities, including online and on-site visits, primarily for institutional and individual investors, discussing computing power development plans, leasing models, humanoid robots, and 2024 operational performance and business progress. - On February 14, 2025, the company conducted an online exchange via a network platform, hosting **30 institutions** including Penghua Fund and Zhongjia Fund, discussing future computing power development plans and other issues[80](index=80&type=chunk) - On February 20, 2025, the company conducted an on-site survey at the Xixi Century Center conference room, hosting institutions such as Guoyuan Securities and Bank of China Securities, discussing computing power leasing models, humanoid robots, and other issues[81](index=81&type=chunk) - On May 15, 2025, the company conducted an online exchange via the Value Online network platform, introducing its 2024 operating performance to all investors and discussing business progress and other issues[81](index=81&type=chunk) [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=21&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 has not formulated a market value management system nor disclosed a valuation enhancement plan. - The company has not formulated a market value management system[82](index=82&type=chunk) - The company has not disclosed a valuation enhancement plan[82](index=82&type=chunk) [XIII. Implementation of "Quality and Return Dual Enhancement" Action Plan](index=21&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 has not disclosed an announcement regarding the "Quality and Return Dual Enhancement" action plan. - The company has not disclosed an announcement regarding the "Quality and Return Dual Enhancement" action plan[82](index=82&type=chunk) Section IV Corporate Governance, Environment, and Society This section covers changes in governance, profit distribution, employee incentives, environmental disclosure, and social responsibility. [I. Changes in Company Directors, Supervisors, and Senior Management](index=21&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, the company experienced multiple changes in its directors, supervisors, and senior management, including the departure of Chen Lianyong, Zhang Yinan, and He Xia due to term expiration, and the election or appointment of Jin Xiaogang, Wu Haiyan, Gao Peng, Yu Keman, Shi Jingjie, and Pan Aibin due to work transfers or elections. Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Chen Lianyong | Independent Director | Term Expired | February 07, 2025 | Re-election | | Zhang Yinan | Independent Director | Term Expired | February 07, 2025 | Re-election | | He Xia | Supervisor | Term Expired | February 07, 2025 | Re-election | | Jin Xiaogang | Independent Director | Elected | February 07, 2025 | Re-election | | Yu Keman | Deputy General Manager | Appointed | February 07, 2025 | Work Transfer | | Shi Jingjie | Deputy General Manager | Appointed | February 07, 2025 | Work Transfer | | Wu Haiyan | Supervisor | Elected | February 07, 2025 | Re-election | | Pan Aibin | Director, Board Secretary, CFO | Elected | February 07, 2025 | Work Transfer | | Gao Peng | Supervisor | Elected | February 07, 2025 | Re-election | [II. Profit Distribution and Capital Reserve Conversion to Share Capital in This Reporting Period](index=22&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 **not to distribute cash dividends**, **not to issue bonus shares**, and **not to convert capital reserves into share capital** for the semi-annual period. - The company plans **not to distribute cash dividends**, **not to issue bonus shares**, and **not to convert capital reserves into share capital** for the semi-annual period[84](index=84&type=chunk) [III. Implementation of Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=22&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 had no equity incentive plans, employee stock ownership plans, or other employee incentive measures, nor any implementation details to report. - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[85](index=85&type=chunk) [IV. Environmental Information Disclosure](index=23&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 by law to disclose environmental information. - The listed company and its major subsidiaries are not included in the list of enterprises required by law to disclose environmental information[86](index=86&type=chunk) [V. Social Responsibility](index=23&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) Adhering to the philosophy of a harmonious society and people-oriented principles, the company actively fulfills its corporate social responsibilities by creating wealth, prioritizing shareholder returns, fostering employee growth, and engaging in social welfare activities, while ensuring sound corporate governance and stable relationships with stakeholders. - The company adheres to the philosophy of a harmonious society and people-oriented principles, integrating social responsibility awareness throughout its business operations[86](index=86&type=chunk) - The company fully protects investors' rights and interests and creates good investment returns by improving its corporate governance structure and internal control system[86](index=86&type=chunk) - The company continuously improves its labor employment and welfare guarantee systems, respects and safeguards employee rights, and emphasizes talent training and development[86](index=86&type=chunk) - The company has established long-term stable strategic partnerships with suppliers and customers, protecting customer interests and building a good corporate image through technological R&D, product upgrades, and quality control[86](index=86&type=chunk) Section V Significant Matters This section details significant commitments, related party transactions, and other material events, confirming the absence of major issues in most areas. [I. Commitments Fulfilled and Overdue Unfulfilled by Actual Controllers, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=24&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no commitments from its actual controllers, shareholders, related parties, acquirers, or the company itself that were either fulfilled or overdue and unfulfilled as of the end of the reporting period. - During the reporting period, the company had no commitments from its actual controllers, shareholders, related parties, acquirers, or the company itself that were either fulfilled or overdue and unfulfilled as of the end of the reporting period[88](index=88&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties of the Listed Company](index=24&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, there was no non-operating occupation of funds by controlling shareholders or other related parties of the listed company. - During the reporting period, there was no non-operating occupation of funds by controlling shareholders or other related parties of the listed company[89](index=89&type=chunk) [III. Irregular External Guarantees](index=24&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) During the reporting period, the company had no irregular external guarantees. - The company had no irregular external guarantees during the reporting period[90](index=90&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=24&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was unaudited. - The company's semi-annual report was unaudited[91](index=91&type=chunk) [V. Board of Directors, Supervisory Board, and Audit Committee's Explanation of the Accounting Firm's "Non-Standard Audit Report" for This Reporting Period](index=24&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E3%80%81%E5%AE%A1%E8%AE%A1%E5%A7%94%E5%91%98%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9A%84%E8%AF%B4%E6%98%8E) As the company's semi-annual report was unaudited, there is no explanation regarding a "non-standard audit report" from the accounting firm for this reporting period. [VI. Board of Directors' Explanation of Matters Related to the "Non-Standard Audit Report" for the Previous Year](index=24&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) As the company's semi-annual report was unaudited, there is no explanation regarding matters related to the "non-standard audit report" for the previous year. [VII. Bankruptcy and Reorganization Matters](index=24&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no bankruptcy and reorganization matters. - The company had no bankruptcy and reorganization matters during the reporting period[92](index=92&type=chunk) [VIII. Litigation Matters](index=24&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) This reporting period, the company had no significant litigation or arbitration matters, though other minor lawsuits exist, one dismissed with **87,000 Yuan** involved and another pending with **2.714 million Yuan** involved, neither having a significant impact on the company. - This reporting period, the company had no significant litigation or arbitration matters[93](index=93&type=chunk) Other Litigation Matters | Basic Information of Litigation (Arbitration) | Amount Involved (10,000 Yuan) | Provision for Estimated Liabilities Formed | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | | :--- | :--- | :--- | :--- | :--- | | Litigation matters not reaching significance (as defendant) | 8.7 | No | Judgment rejected the opposing party's claim | This litigation matter has no significant impact on the company | | Litigation matters not reaching significance (as plaintiff) | 271.4 | No | Case filed, not yet heard | This litigation matter has no significant impact on the company | [IX. Penalties and Rectification](index=25&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) During the reporting period, the company had no penalties or rectification situations. - The company had no penalties or rectification situations during the reporting period[95](index=95&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers](index=25&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) During the reporting period, the company, its controlling shareholders, and actual controllers had no unfulfilled court judgments or large overdue debts. - During the reporting period, the company had no unfulfilled court judgments or large overdue debts[96](index=96&type=chunk) [XI. Significant Related Party Transactions](index=25&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company had no related party transactions concerning daily operations, asset/equity acquisition/disposal, or joint external investments, but did have related party debt with actual controllers Guo Qing and Zhang Hui, with end-of-period balances of **226.7867 million Yuan** and **91.9182 million Yuan**, respectively, and no dealings with affiliated financial companies or other significant related party transactions. - During the reporting period, the company did not engage in related party transactions related to daily operations, asset or equity acquisitions/disposals, or joint external investments[96](index=96&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk) Payables to Related Parties | Related Party | Relationship | Reason for Formation | Opening Balance (10,000 Yuan) | Amount Newly Added in Current Period (10,000 Yuan) | Amount Recovered in Current Period (10,000 Yuan) | Interest Rate | Interest in Current Period (10,000 Yuan) | Closing Balance (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Guo Qing | Actual Controller | Fund Borrowing | 24,153.48 | 8,995 | 10,795 | 3.10% | 325.19 | 22,678.67 | | Zhang Hui | Actual Controller | Fund Borrowing | 11,061.5 | 0 | 2,000 | 3.10% | 130.31 | 9,191.82 | - The company has no deposits, loans, credit lines, or other financial business with affiliated financial companies or financial companies controlled by the company and related parties[101](index=101&type=chunk)[102](index=102&type=chunk) - The company had no other significant related party transactions during the reporting period[103](index=103&type=chunk) [XII. Significant Contracts and Their Performance](index=26&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) During the reporting period, the company had no entrustment, contracting, or leasing matters, but provided multiple significant guarantees for subsidiaries totaling **833.82 million Yuan**, representing **57.16%** of its net assets, including **200 million Yuan** for entities with a debt-to-asset ratio exceeding 70% and **50.2776 million Yuan** for the portion exceeding 50% of net assets. - The company had no entrustment, contracting, or leasing situations during the reporting period[104](index=104&type=chunk)[105](index=105&type=chunk)[106](index=106&type=chunk) Company Guarantees for Subsidiaries | Name of Guaranteed Party | Guarantee Limit (10,000 Yuan) | Actual Guarantee Amount (10,000 Yuan) | Guarantee Type | Guarantee Period | Fulfilled | Related Party Guarantee | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hangzhou Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 4,400 | Joint and Several Liability Guarantee | 2024.9.30 to 2027.9.30 | No | Yes | | Hangzhou Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 25,957 | Joint and Several Liability Guarantee | 2024.9.30 to 2028.9.27 | No | Yes | | Hangzhou Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 1,825 | Joint and Several Liability Guarantee | 2025.1.21 to 2028.9.27 | No | Yes | | Hangzhou Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 5,100 | Joint and Several Liability Guarantee | 2024.11.20-2028.11.20 | No | Yes | | Hangzhou Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 600 | Joint and Several Liability Guarantee | 2025.1.23 to 2027.1.17 | No | Yes | | Shenzhen Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 5,000 | Joint and Several Liability Guarantee | 2024.12.27 to 2025.12.22 | No | Yes | | Shenzhen Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 3,000 | Joint and Several Liability Guarantee | 2025.1.17 to 2026.1.17 | No | Yes | | Shenzhen Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 4,000 | Joint and Several Liability Guarantee | 2024.8.26 to 2025.8.21 | No | Yes | | Shenzhen Zhaoneng Xuntong Technology Co., Ltd. | 210,000 | 1,400 | Joint and Several Liability Guarantee | 2025.1.23 to 2027.1.17 | No | Yes | | Hangzhou Pingzhi Funeng Smart Technology Co., Ltd. | 210,000 | 4,000 | Joint and Several Liability Guarantee | 2025.3.12 to 2028.3.12 | No | Yes | | Hangzhou Pingzhi Zhida Technology Co., Ltd. | 210,000 | 5,300 | Joint and Several Liability Guarantee | 2025.3.25 to 2029.2.28 | No | Yes | | Liangya Huizhi (Kunming) Artificial Intelligence Technology Co., Ltd. | 210,000 | 14,700 | Joint and Several Liability Guarantee | 2025.3.31 to 2030.3.28 | No | Yes | | Shenzhen Zhaoneng Xuntong Technology Co., Ltd. | 250,000 | 3,000 | Joint and Several Liability Guarantee | 2025.5.23 to 2025.11.23 | No | Yes | Total Guarantee Amount | Indicator | Amount (10,000 Yuan) | | :--- | :--- | | Total approved guarantee limit within the reporting period | 250,000 | | Total actual guarantee amount incurred within the reporting period | 33,825 | | Total approved guarantee limit at the end of the reporting period | 250,000 | | Total actual guarantee balance at the end of the reporting period | 83,382 | | Proportion of total actual guarantee amount to company's net assets | 57.16% | | Debt guarantee balance provided for guaranteed parties with asset-liability ratio exceeding 70% | 20,000 | | Amount of total guarantee exceeding 50% of net assets | 5,027.76 | | Total of the above three guarantee amounts | 25,207.76 | - The company had no significant contracts for daily operations or other significant contracts during the reporting period[112](index=112&type=chunk)[113](index=113&type=chunk) [XIII. Explanation of Other Significant Matters](index=29&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company had no other significant matters requiring explanation. - During the reporting period, the company had no other significant matters requiring explanation[114](index=114&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=29&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's subsidiaries had no significant matters. - During the reporting period, the company's subsidiaries had no other significant matters requiring explanation[115](index=115&type=chunk) Section VI Share Changes and Shareholder Information This section outlines share capital changes, shareholder structure, and changes in holdings of key personnel and controlling shareholders. [I. Share Change Information](index=30&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) During the reporting period, the company's restricted shares decreased by **8,426 shares**, while unrestricted shares increased by **8,426 shares**, with total share capital remaining unchanged, primarily due to the release of restricted shares for senior executives based on recalculated annual transferable quotas. Share Change Information | Item | Number Before This Change (shares) | Proportion Before This Change | Net Increase/Decrease in This Change (shares) | Number After This Change (shares) | Proportion After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 23,924,824 | 17.15% | -8,426 | 23,916,398 | 17.14% | | II. Unrestricted Shares | 115,603,470 | 82.85% | 8,426 | 115,611,896.00 | 82.86% | | III. Total Shares | 139,528,294 | 100.00% | 0 | 139,528,294 | 100.00% | - The reason for the share change is the recalculation of the annual transferable share quota for the company's directors, supervisors, and senior management based on their holdings as of December 31, 2024, with the remaining portion continuing to be locked as restricted shares for senior executives[119](index=119&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released in Current Period (shares) | Restricted Shares Increased in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Planned Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yin Xiaohua | 33,705 | 8,426 | 0 | 25,279 | Senior Executive Restricted Shares | August 7, 2025 | [II. Securities Issuance and Listing](index=31&type=section&id=%E4%BA%8C%E3%80%81%E8%AF%81%E5%88%B8%E5%8F%91%E8%A1%8C%E4%B8%8E%E4%B8%8A%E5%B8%82%E6%83%85%E5%86%B5) During the reporting period, the company had no securities issuance or listing activities. [III. Number of Shareholders and Shareholding Structure](index=31&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 **22,708** common shareholders; among the top ten shareholders, Guo Qing was the largest with **22.80%** ownership, and Fujian Qizhi Xing Enterprise Management Partnership (Limited Partnership) held **12.28%**, with Guo Qing and Fujian Qizhi Xing's actual controller Zhang Hui being spouses, and some of Guo Qing's shares pledged. - The total number of common shareholders at the end of the reporting period was **22,708**[122](index=122&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at End of Reporting Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | Share Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Guo Qing | Domestic Natural Person | 22.80% | 31,806,000 | 23,854,500 | 7,951,500 | Pledged | 9,770,000 | | Fujian Qizhi Xing Enterprise Management Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 12.28% | 17,141,000 | 0 | 17,141,000 | Not Applicable | 0 | | Wang Jina | Domestic Natural Person | 3.24% | 4,522,334 | 0 | 4,522,334 | Not Applicable | 0 | | Xu Guoxin | Domestic Natural Person | 2.61% | 3,646,207 | 0 | 3,646,207 | Not Applicable | 0 | | Zhejiang Daily Digital Culture Group Co., Ltd. | State-Owned Legal Person | 0.76% | 1,061,193 | 0 | 1,061,193 | Not Applicable | 0 | | Nanjing Wangdian Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 0.74% | 1,035,196 | 0 | 1,035,196 | Not Applicable | 0 | | Xinhua Net Co., Ltd. | State-Owned Legal Person | 0.67% | 935,196 | 0 | 935,196 | Not Applicable | 0 | | Bank of China Co., Ltd. - Huaxia Industry Prosperity Mixed Securities Investment Fund | Other | 0.67% | 933,800 | 0 | 933,800 | Not Applicable | 0 | | Chen Haihua | Domestic Natural Person | 0.57% | 800,300 | 0 | 800,300 | Not Applicable | 0 | | Sun Yongqin | Domestic Natural Person | 0.37% | 514,773 | 0 | 514,773 | Not Applicable | 0 | - Guo Qing and Zhang Hui, the actual controller and executive partner of Fujian Qizhi Xing Enterprise Management Partnership (Limited Partnership), are spouses[123](index=123&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=33&type=section&id=%E5%9B%9B%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) During the reporting period, there were no changes in the shareholdings of the company's directors, supervisors, and senior management, as detailed in the 2024 annual report. - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, as detailed in the 2024 annual report[125](index=125&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=34&type=section&id=%E4%BA%94%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E6%88%96%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's controlling shareholder or actual controller. - The company's controlling shareholder did not change during the reporting period[126](index=126&type=chunk) - The company's actual controller did not change during the reporting period[126](index=126&type=chunk) [VI. Preferred Share Information](index=35&type=section&id=%E5%85%AD%E3%80%81%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company had no preferred shares. - The company had no preferred shares during the reporting period[127](index=127&type=chunk) Section VII Bond-Related Information This section confirms that the company had no bond-related information during the reporting period. [Bond-Related Information](index=36&type=section&id=%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company had no bond-related information. - The company had no bond-related information during the reporting period[129](index=129&type=chunk) Section VIII Financial Report This section presents the company's unaudited semi-annual consolidated and parent company financial statements, including key statements and detailed notes on accounting policies and financial items. [I. Audit Report](index=37&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's semi-annual financial report was unaudited. - The company's semi-annual financial report was unaudited[131](index=131&type=chunk) [II. Financial Statements](index=37&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, presenting the financial position and operating results at the end of the reporting period. [1. Consolidated Balance Sheet](index=37&type=section&id=1%E3%80%81%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 consolidated total assets were **4,715,334,270.23 Yuan**, a **32.61% increase** from the beginning of the period, with total liabilities of **3,253,848,424.40 Yuan** and total owners' equity of **1,461,485,845.83 Yuan**. Consolidated Balance Sheet Key Data (End of Period Balance) | Item | End of Period Balance (Yuan) | | :--- | :--- | | Total Assets | 4,715,334,270.23 | | Total Current Assets | 2,360,548,156.79 | | Total Non-Current Assets | 2,354,786,113.44 | | Total Liabilities | 3,253,848,424.40 | | Total Current Liabilities | 1,971,190,952.67 | | Total Non-Current Liabilities | 1,282,657,471.73 | | Total Owners' Equity | 1,461,485,845.83 | | Total Owners' Equity Attributable to Parent Company | 1,458,717,452.93 | [2. Parent Company Balance Sheet](index=39&type=section&id=2%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the parent company's total assets were **4,086,123,701.60 Yuan**, a **17.28% increase** from the beginning of the period, with total liabilities of **2,576,092,595.48 Yuan** and total owners' equity of **1,510,031,106.12 Yuan**. Parent Company Balance Sheet Key Data (End of Period Balance) | Item | End of Period Balance (Yuan) | | :--- | :--- | | Total Assets | 4,086,123,701.60 | | Total Current Assets | 1,728,431,471.34 | | Total Non-Current Assets | 2,357,692,230.26 | | Total Liabilities | 2,576,092,595.48 | | Total Current Liabilities | 1,689,170,101.34 | | Total Non-Current Liabilities | 886,922,494.14 | | Total Owners' Equity | 1,510,031,106.12 | [3. Consolidated Income Statement](index=41&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) For the first half of 2025, the company's consolidated total operating revenue was **579,877,945.14 Yuan**, a **34.64% year-on-year decrease**, while net profit was **13,140,226.88 Yuan**, a **225.36% year-on-year increase**, and net profit attributable to parent company shareholders was **13,097,754.78 Yuan**, a **331.48% year-on-year increase**. Consolidated Income Statement Key Data (H1 2025) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 579,877,945.14 | 887,196,531.41 | | Total Operating Costs | 586,475,859.97 | 893,875,735.65 | | Operating Profit | 31,327,625.43 | 6,662,286.49 | | Total Profit | 24,508,928.01 | 6,189,751.17 | | Net Profit | 13,140,226.88 | 4,039,792.79 | | Net Profit Attributable to Parent Company Shareholders | 13,097,754.78 | 3,035,539.67 | | Basic Earnings Per Share | 0.09 | 0.02 | | Diluted Earnings Per Share | 0.09 | 0.02 | [4. Parent Company Income Statement](index=43&type=section&id=4%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) For the first half of 2025, the parent company's operating revenue was **539,546,581.97 Yuan**, a **42.76% year-on-year increase**, and net profit was **27,330,809.66 Yuan**, an **81.23% year-on-year increase**. Parent Company Income Statement Key Data (H1 2025) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 539,546,581.97 | 377,895,090.77 | | Operating Costs | 505,622,983.59 | 322,544,227.84 | | Operating Profit | 37,664,453.20 | 16,331,840.32 | | Total Profit | 36,084,581.24 | 16,150,884.03 | | Net Profit | 27,330,809.66 | 15,080,915.76 | [5. Consolidated Cash Flow Statement](index=45&type=section&id=5%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For the first half of 2025, the company's net cash flow from operating activities was **185,814,483.05 Yuan**, an **18.16% year-on-year increase**, while net cash flow from investing activities showed a significant outflow of **-1,008,161,521.07 Yuan**, and net cash flow from financing activities showed a significant inflow of **885,313,900.91 Yuan**, resulting in a net increase in cash and cash equivalents of **63,117,264.19 Yuan**. Consolidated Cash Flow Statement Key Data (H1 2025) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 185,814,483.05 | 157,251,592.38 | | Net Cash Flow from Investing Activities | -1,008,161,521.07 | -385,820,540.49 | | Net Cash Flow from Financing Activities | 885,313,900.91 | 142,703,373.38 | | Net Increase in Cash and Cash Equivalents | 63,117,264.19 | -85,799,521.01 | | Cash and Cash Equivalents at End of Period | 184,194,632.21 | 183,075,175.28 | [6. Parent Company Cash Flow Statement](index=46&type=section&id=6%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For the first half of 2025, the parent company's net cash flow from operating activities turned negative at **-85,057,889.73 Yuan**, net cash flow from investing activities showed a significant outflow of **-687,701,878.76 Yuan**, and net cash flow from financing activities showed a significant inflow of **817,322,005.68 Yuan**, resulting in a net increase in cash and cash equivalents of **44,562,237.19 Yuan**. Parent Company Cash Flow Statement Key Data (H1 2025) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -85,057,889.73 | 976,648.29 | | Net Cash Flow from Investing Activities | -687,701,878.76 | -59,906,082.81 | | Net Cash Flow from Financing Activities | 817,322,005.68 | 31,371,490.64 | | Net Increase in Cash and Cash Equivalents | 44,562,237.19 | -27,557,943.88 | | Cash and Cash Equivalents at End of Period | 76,684,835.71 | 83,613,471.19 | [7. Consolidated Statement of Changes in Owners' Equity](index=47&type=section&id=7%E3%80%81%E5%90%88%E5%B9%B6%E6%89%80%E6%9C%89%E8%80%85%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) For the first half of 2025, the company's consolidated total owners' equity increased by **12,734,025.76 Yuan**, with owners' equity attributable to the parent company increasing by **13,097,754.78 Yuan** and minority interests decreasing by **363,729.02 Yuan**. Consolidated Statement of Changes in Owners' Equity (H1 2025) | Item | Share Capital (Yuan) | Capital Reserve (Yuan) | Other Comprehensive Income (Yuan) | Surplus Reserve (Yuan) | Retained Earnings (Yuan) | Total Owners' Equity Attributable to Parent Company (Yuan) | Minority Interests (Yuan) | Total Owners' Equity (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Opening Balance | 139,528,294.00 | 545,154,842.71 | 2,036,747.37 | 58,917,537.79 | 699,982,276.28 | 1,445,619,698.15 | 3,132,121.92 | 1,448,751,820.07 | | Change in Current Period | 0.00 | 0.00 | 0.00 | 0.00 | 13,097,754.78 | 13,097,754.78 | -363,729.02 | 12,734,025.76 | | Closing Balance | 139,528,294.00 | 545,154,842.71 | 2,036,747.37 | 58,917,537.79 | 713,080,031.06 | 1,458,717,452.93 | 2,768,392.90 | 1,461,485,845.83 | [8. Parent Company Statement of Changes in Owners' Equity](index=51&type=section&id=8%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E6%89%80%E6%9C%89%E8%80%85%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) For the first half of 2025, the parent company's total owners' equity increased by **27,330,809.66 Yuan**, primarily due to an increase in retained earnings. Parent Company Statement of Changes in Owners' Equity (H1 2025) | Item | Share Capital (Yuan) | Capital Reserve (Yuan) | Other Comprehensive Income (Yuan) | Surplus Reserve (Yuan) | Retained Earnings (Yuan) | Total Owners' Equity (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Opening Balance | 139,528,294.00 | 758,916,181.81 | -5,132,584.96 | 63,718,216.20 | 525,670,189.41 | 1,482,700,296.46 | | Change in Curr

Core Viewpoint - The communication services sector experienced a notable increase of 1.98% on August 22, with Chaoxun Communication leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3825.76, up 1.45% [1] - The Shenzhen Component Index closed at 12166.06, up 2.07% [1] Group 2: Top Gainers in Communication Services - Chaoxun Communication (603322) closed at 41.86, with a rise of 7.03% and a trading volume of 249,400 shares [1] - Putian Technology (002544) closed at 25.13, up 6.80% with a trading volume of 604,100 shares [1] - Runze Technology (300442) closed at 59.33, increasing by 5.51% with a trading volume of 487,600 shares [1] - Pingzhi Information (300571) closed at 34.83, up 5.19% with a trading volume of 125,700 shares [1] - China Unicom (600050) closed at 5.89, rising by 4.06% with a trading volume of 11,842,800 shares [1] Group 3: Market Capital Flow - The communication services sector saw a net inflow of 863 million yuan from institutional investors, while retail investors experienced a net outflow of 305 million yuan [2] - Speculative funds recorded a net outflow of 558 million yuan from the communication services sector [2]

Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Pingzhi Information Technology Co., Ltd. as of August 22, 2025, showing a stock price increase of 5.19% to 34.83 yuan with a trading volume of 12.57 million shares and a transaction amount of 428 million yuan [1] - The company reported a total operating revenue of 342 million yuan for Q1 2025, representing a year-on-year decrease of 51.82%, while the net profit attributable to shareholders was 10.52 million yuan, showing a significant year-on-year increase of 287.38% [1] - The company has a current ratio of 1.317, a quick ratio of 1.104, and a debt-to-asset ratio of 66.23%, indicating its liquidity and financial leverage status [1] Group 2 - Pingzhi Information has made investments in 52 companies and participated in 80 bidding projects, showcasing its active engagement in the market [2] - The company holds 40 trademark registrations and 90 patents, reflecting its focus on intellectual property and innovation [2] - Additionally, it possesses 26 administrative licenses, indicating compliance and operational capabilities within its industry [2]

金融界消息 截至2025年8月15日收盘，平治信息（300571）报收于32.54元，上涨1.56%，换手率 4.76%，成交量5.50万手，成交金额1.78亿元。 资金流向方面，今日主力资金净流入1401.45万元，占比成交额7.87%。其中，超大单净流出70.78万 元、占成交额0.4%，大单净流入1472.23万元、占成交额8.26%，中单净流出流出1267.05万元、占成交 额7.11%，小单净流出134.40万元、占成交额0.75%。 通过天眼查大数据分析，杭州平治信息技术股份有限公司共对外投资了52家企业，参与招投标项目80 次，知识产权方面有商标信息40条，专利信息90条，此外企业还拥有行政许可27个。 来源：金融界 平治信息最新一期业绩显示，截至2025一季报，公司营业总收入3.42亿元、同比减少51.82%，归属净利 润1052.23万元，同比增长287.38%，扣非净利润1154.53万元，同比增长200.07%，流动比率1.317、速动 比率1.104、资产负债率66.23%。 天眼查商业履历信息显示，杭州平治信息技术股份有限公司，成立于2002年，位于杭州市，是一家以从 事计算机、通信 ...