Financial Performance - The company's total revenue for the first half of 2025 was 219 million yuan, a decrease of 7.11% year-on-year [1] - The net profit attributable to shareholders was -15.68 million yuan, a decline of 316.25% compared to the previous year [1] - The gross profit margin was 17.52%, down 16.77% year-on-year, while the net profit margin was -7.19%, a decrease of 336.31% [1] - The total of selling, administrative, and financial expenses reached 43.61 million yuan, accounting for 19.94% of total revenue, an increase of 46.09% year-on-year [1] Cash Flow and Debt - The company reported cash and cash equivalents of 336 million yuan, an increase of 6.67% year-on-year [1] - The company’s interest-bearing liabilities rose to 328 million yuan, a significant increase of 69.41% [1] - The cash flow situation is concerning, with the cash assets to current liabilities ratio at 68.08% and the average operating cash flow over the past three years being -12.98% [3] Return on Investment - The company's return on invested capital (ROIC) for the previous year was 0.46%, indicating weak capital returns [3] - The historical median ROIC since the company went public is 6.44%, suggesting average investment returns [3] - The net profit margin for the previous year was 0.96%, indicating low added value for products or services [3] Accounts Receivable - The accounts receivable to profit ratio has reached 8255.06%, highlighting potential issues in collections [3]

Core Viewpoint - Jida Communication (300597.SZ) is in a "strategic investment period" as it navigates short-term performance pressures while focusing on new business development, R&D innovation, and international expansion, which are expected to drive long-term growth [1] Group 1: Financial Performance - In the first half of 2025, Jida Communication achieved revenue of 219 million yuan, with communication network design service revenue at 95 million yuan, a year-on-year increase of 1.8% [1] - R&D investment reached 13.79 million yuan, up 23.27% year-on-year, indicating a commitment to innovation despite short-term revenue fluctuations [1][4] - The company reported stable cash flow, showcasing its strategic determination and growth potential during the industry's adjustment period [1] Group 2: Business Development - The telecommunications industry in China saw a 9.3% year-on-year growth in total telecom business volume, reaching 905.5 billion yuan, with 5G base stations totaling 4.55 million and mobile phone users at 1.118 billion, indicating a robust market environment [2] - Jida Communication is pursuing a "four-wheel drive" business model, focusing on communication technology services, information product integration, international business, and investment, while traditional core businesses remain significant [2][3] - Engineering service revenue was 116 million yuan, and design service revenue was 95 million yuan, although traditional business revenue saw a slight decline due to increased competition and reduced project bid discount rates [2] Group 3: Innovation and Technology - Jida Communication has maintained a consistent increase in R&D investment since its listing in 2017, with 137.9 million yuan in the first half of 2025, and has secured 129 patents and 210 software copyrights [4] - The company is actively exploring cutting-edge technologies such as AI, big data, and IoT, and has launched the upgraded "Smart Canteen 3.0" product, enhancing user experience and gaining recognition from government and enterprise clients [3][4] - Jida Communication's strategic focus on computing network infrastructure aligns with national initiatives, opening opportunities in the trillion-level computing infrastructure service market [4] Group 4: Project Achievements - In June 2025, Jida Communication won multiple segments of the "China Mobile 2025-2027 Communication Engineering Design and Feasibility Study Centralized Procurement Project," with an estimated service fee of approximately 788.08 million yuan [5] - This project spans five provinces and covers critical areas such as transmission networks and core networks, providing a stable revenue stream and valuable project experience for future market expansion [5] - The company's project wins from July to August 2025 have already exceeded the total amount from the first half of the year, indicating strong momentum [5] Group 5: Future Outlook - With accelerated project construction, further R&D outcomes, and expanding market share in new businesses, Jida Communication is expected to see a recovery in overall performance [6] - The company aims to leverage technological innovation and industrial upgrades, focusing on high-growth potential markets and enhancing profitability and competitive advantage through AI applications in key sectors [6]

Core Insights - The company reported a total operating revenue of 219 million yuan, ranking 32nd among disclosed peers, which represents a decrease of 16.73 million yuan or 7.11% year-on-year [1] - The net profit attributable to shareholders was -15.68 million yuan, ranking 30th among peers, a decline of 22.93 million yuan or 316.25% year-on-year [1] - The net cash flow from operating activities was -96.39 million yuan, ranking 32nd among peers, with a slight increase of 24,500 yuan compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio is 37.53%, ranking 12th among peers, which is an increase of 5.19 percentage points from the previous quarter and 9.95 percentage points from the same period last year [3] - The latest gross profit margin is 17.52%, ranking 17th among peers, with an increase of 1.23 percentage points from the previous quarter but a decrease of 3.53 percentage points year-on-year [3] - The latest return on equity (ROE) is -1.64%, ranking 30th among peers, a decrease of 2.34 percentage points from the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is -0.06 yuan, ranking 34th among peers, a decrease of 0.09 yuan or 326.69% year-on-year [3] - The latest total asset turnover ratio is 0.14 times, ranking 29th among peers, a decrease of 0.02 times or 12.73% year-on-year [3] - The latest inventory turnover ratio is 0.40 times, ranking 36th among peers, a decrease of 0.12 times or 23.53% year-on-year [3]

Core Viewpoint - Jida Communication is in a "strategic investment period," focusing on new business development, R&D innovation, and international expansion despite short-term performance pressures [1] Financial Performance - In the first half of 2025, Jida Communication achieved revenue of 219 million yuan, with communication network design service revenue of 95 million yuan, a year-on-year increase of 1.8% [1] - R&D investment reached 13.79 million yuan, up 23.27% year-on-year [1] Business Development Strategy - The company adopts a "four-wheel drive" business model, including communication technology services, information product integration, international business, and investment [2] - Traditional core business remains strong, with engineering service revenue of 116 million yuan and design service revenue of 95 million yuan, although there was a slight decline in revenue due to increased competition [2] Innovation and Technology - Jida Communication has maintained a consistent increase in R&D investment since its listing, with 137.9 million yuan in the first half of 2025, and has obtained 129 patents and 210 software copyrights [4] - The company is actively exploring cutting-edge technologies such as AI, big data, and IoT, and has launched the upgraded "Smart Canteen 3.0" product [3][4] Project Achievements - In the first half of 2025, Jida Communication won several significant projects, including a major contract with China Mobile worth approximately 78.81 million yuan, covering multiple provinces [5] - The project spans from 2025 to 2027, providing stable revenue and valuable project experience for future market expansion [5] Future Outlook - With the acceleration of project construction and the expansion of new business markets, the company is expected to see a recovery in overall performance [6] - Jida Communication aims to leverage technological innovation and industry upgrades to explore high-growth potential markets and enhance profitability [6]

Group 1 - The core point of the article is that Jida Communication (SZ 300597) held its fifth board meeting on August 27, 2025, to review the semi-annual report for 2025 [1] - For the first half of 2025, Jida Communication's revenue composition was 97.13% from the telecommunications industry and 2.87% from other businesses [1]

吉林吉大通信设计院股份有限公司 2025 年 1-6 月非经营性资金占用及其他关联资金往来情况汇总表 编制单位：吉林吉大通信设计院股份有限公司 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 | 上市公司 | 2024 年期初占 | 2024年1-6月占 用累计发生金额 | 2024年1-6月 占用资金的利 | 2024年1-6月 偿还累计发生 | 年 月 2024 1-6 期末占用资金余 | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 司的关联关系 | 核算的会计科目 | 用资金余额 | | | | | 原因 | 占用性质 | | | | | | | （不含利息） | 息（如有） | 金额 | 额 | | | | 控股股东、实际控 | | | | | | | | | | | | 制人及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前控股股东、实际 | | | | | | | | | | | ...

证券代码：300597 证券简称：吉大通信 公告编号：2025-038 投 资 者 可 于 2025 年 9 月 10 日 （ 星 期 三 ） 15:30-16:30 通 过 网 址 https://eseb.cn/1qE2JAz0ALu 或使用微信扫描下方小程序码即可进入参与互 动交流。 为充分尊重投资者、提升交流的针对性，现就公司 2025 年半年度网上业绩 说明会提前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2025 年 9 月 9 日（星期二）17：00 前访问 https://eseb.cn/1qE2JAz0ALu，或 扫描下方小程序码进行会前提问。公司将在 2025 年半年度网上业绩说明会上， 对投资者普遍关注的问题进行回答。欢迎广大投资者积极参与。 1 特此公告。 吉林吉大通信设计院股份有限公司 吉林吉大通信设计院股份有限公司 关于举办 2025 年半年度网上业绩说明会的公告 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。 吉林吉大通信设计院股份有限公司（以下简称"公司"）已于 2025 年 8 月 29 日在巨潮资讯网上披露 ...

证券代码：300597 证券简称：吉大通信 公告编号：2025-037 吉林吉大通信设计院股份有限公司 关于2025年半年度募集资金存放、管理与使用情况的专项报告 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、募集资金基本情况 （一）实际募集资金金额和资金到位时间 为了规范募集资金的管理和使用，保护投资者权益，本公司依照相关法律、 法规和规范性文件的规定，公司及全资子公司中浦慧联信息科技（上海）有限公 司与存放募集资金的商业银行及保荐机构海通证券股份有限公司分别签署了《募 集资金三方监管协议》和《募集资金四方监管协议》。具体内容详见 2022 年 12 月 5 日刊登于中国证监会指定创业板信息披露网站巨潮资讯网的《吉林吉大通信 设计院股份有限公司关于签署募集资金三方和四方监管协议的公告》。 经中国证券监督管理委员会《关于同意吉林吉大通信设计院股份有限公司向 特定对象发行股票注册的批复》（证监许可[2022]1850 号）同意注册，公司向 特定对象发行股票 32,570,030 股，每股面值人民币 1 元，发行价格为 6.55 元/ 股，募集资金总额为人民 ...

证券代码：300597 证券简称：吉大通信 公告编号：2025-036 吉林吉大通信设计院股份有限公司 第五届董事会2025年第五次会议决议公告 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、《关于<2025 年半年度报告>及其摘要的议案》 经全体董事审议，11 票赞成、0 票反对、0 票弃权。 经董事会全体董事审议后认为：公司 2025 年半年度报告及其摘要的编制和 审核符合法律法规的要求，报告内容真实、准确、完整地反映了公司的实际情况， 不存在虚假记载、误导性陈述或者重大遗漏。 本议案已经公司第五届董事会审计委员会 2025 年第四次会议审议通过。 《2025 年半年度报告》及其摘要详见公司信息披露网站巨潮资讯网 http://www.cninfo.com.cn。 《2025 年半年度报告摘要》将于 2025 年 8 月 29 日刊登在《中国证券报》《证 券时报》。 经全体董事审议，11 票赞成、0 票反对、0 票弃权。 经董事会全体董事审议后认为：公司严格按照《深圳证券交易所创业板股票 上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创 ...

[Section 1 Important Notices, 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) [Important Notices](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board and senior management guarantee the report's authenticity and accuracy, confirming no dividend distribution for the period - The Board of Directors, directors, and senior management guarantee the authenticity, accuracy, and completeness of the semi-annual report, with no false records, misleading statements, or major omissions[4](index=4&type=chunk) - The company's responsible person Zhou Wei, chief financial officer Li Dianyu, and head of the accounting department Li Dianyu declare the authenticity, accuracy, and completeness of the financial report[4](index=4&type=chunk) - The company **plans no cash dividend distribution**, no bonus shares, and no capitalization of public reserves[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section outlines the report's structure, covering nine main chapters including company profile and financial analysis [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines key terms used in the report, covering company names, related parties, and technical terminology - Jilin Jida Communication Design Institute Co, Ltd is referred to as the Company, This Company, the Issuer, or Jida Communication[10](index=10&type=chunk) - Definitions cover key communication technologies such as 5G, 4G, 3G, LTE, MIMO, OTN, SPN, and IP RAN[12](index=12&type=chunk)[13](index=13&type=chunk) - Definitions also include information technology concepts like smart city, cloud computing, big data, internet, and edge computing[10](index=10&type=chunk)[12](index=12&type=chunk) [Section 2 Company Profile and Key Financial Indicators](index=8&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) [I. Company Profile](index=8&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Jilin Jida Communication Design Institute Co, Ltd (Stock Symbol: 300597) is listed on the Shenzhen Stock Exchange - The company's stock short name is "Jida Communication" and the stock code is "300597", listed on the Shenzhen Stock Exchange[15](index=15&type=chunk) - The company's legal representative is Zhou Wei[15](index=15&type=chunk) [II. Contacts and Contact Information](index=8&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 Board Secretary is Geng Yan and the Securities Affairs Representative is Liu Dianrong - The Board Secretary is Geng Yan, and the Securities Affairs Representative is Liu Dianrong[16](index=16&type=chunk) - The contact address is Room 701, Building 9, Nanhu Xuefu Jingdian Community, Chaoyang District, Changchun City, with contact details provided[16](index=16&type=chunk) [III. Other Information](index=8&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) No changes occurred in the company's registered address, office location, website, or information disclosure venues during the period - The company's registered address, office address, postal code, website, and email address remained unchanged during the reporting period[17](index=17&type=chunk) - The locations for information disclosure and document preparation remained unchanged during the reporting period[18](index=18&type=chunk) - The company's registration details remained unchanged during the reporting period[19](index=19&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=9&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) In H1 2025, operating revenue fell 7.11% YoY, while net profit attributable to shareholders turned to a loss, down 316.25% Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (RMB) | Same Period Last Year (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 218,710,203.02 | 235,442,128.24 | -7.11% | | Net Profit Attributable to Shareholders of the Listed Company | -15,678,097.54 | 7,249,922.09 | -316.25% | | Net Profit Attributable to Shareholders of the Listed Company after Deducting Non-recurring Gains and Losses | -18,390,968.51 | 7,235,788.32 | -354.17% | | Net Cash Flow from Operating Activities | -96,391,156.36 | -96,415,698.25 | 0.03% | | Basic Earnings Per Share (RMB/share) | -0.0603 | 0.0266 | -326.69% | | Diluted Earnings Per Share (RMB/share) | -0.0603 | 0.0269 | -324.16% | | Weighted Average Return on Equity | -1.62% | 0.67% | -2.29% | | **End of Current Period** | **End of Last Year** | **Change from End of Last Year** | | | Total Assets | 1,556,767,377.34 | 1,510,094,215.45 | 3.09% | | Net Assets Attributable to Shareholders of the Listed Company | 957,930,874.58 | 973,622,258.60 | -1.61% | [V. Differences in Accounting Data under Domestic and Foreign Accounting Standards](index=9&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) No discrepancies exist between financial reports prepared under Chinese accounting standards and international or foreign standards - The company has no discrepancies in net profit or net assets between financial reports disclosed under international accounting standards and Chinese accounting standards[21](index=21&type=chunk) - The company has no discrepancies in net profit or net assets between financial reports disclosed under foreign accounting standards and Chinese accounting standards[22](index=22&type=chunk) [VI. Non-recurring Profit and Loss Items and Amounts](index=9&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 profit and loss totaled RMB 2,712,870.97, mainly from asset disposals, government grants, and investment income Non-recurring Profit and Loss Items and Amounts for H1 2025 | Item | Amount (RMB) | Description | | :--- | :--- | :--- | | Gains and losses from the disposal of non-current assets (including the write-off portion of asset impairment provisions) | 28,211.46 | | | Government grants included in current profit or loss (excluding those closely related to the company's normal business operations, compliant with national policies, and enjoyed based on established standards with a continuous impact on the company's profit or loss) | 605,868.79 | | | Gains and losses from entrusting others with investments or asset management | 30,000.00 | | | Other non-operating income and expenses besides the above items | 2,558,468.10 | | | Less: Income tax effects | 489,649.46 | | | Minority interest effects (after tax) | 20,027.92 | | | Total | 2,712,870.97 | | [Section 3 Management Discussion and Analysis](index=11&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) [I. Principal Business Activities During the Reporting Period](index=11&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 provides communication and IT services, driven by a four-pillar business model and key growth factors - The company is a high-tech enterprise specializing in providing communication and information technology services to domestic and international telecom operators, government agencies, and enterprises[27](index=27&type=chunk) - During the reporting period, the company advanced its strategic transformation, forming a "four-wheel drive" business structure: communication technology services, information product integration and operation, international business, and investment business[27](index=27&type=chunk) - Key performance drivers include **digital development** (new digital infrastructure, 5G deployment), **international market expansion** (growth in Southeast Asia and Africa, strong performance of the Philippine subsidiary), and **innovation** (smart canteen products, IoT, AI, big data, and cloud computing applications)[31](index=31&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk) [Main Business](index=11&type=section&id=%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's main business comprises communication technology services, IT product integration, international FTK services, and investment management - The company's main businesses include communication technology services, information product integration and operation, international business, and investment business[27](index=27&type=chunk) - The international business operates as a Full Turnkey (FTK) company, serving overseas operators with comprehensive project contracting and maintenance services[28](index=28&type=chunk) - The investment business involves external investment, investment management, asset management, and equity investment using proprietary funds[29](index=29&type=chunk) [Key Performance Drivers](index=11&type=section&id=%E4%B8%BB%E8%A6%81%E7%9A%84%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) Performance is driven by national digitalization strategies, 5G deployment, international market growth, and innovation in areas like smart canteens - **Digital Development Driver**: The construction of new digital infrastructure, accelerated deployment of 5G networks, and supportive policies like the "14th Five-Year Plan for National Informatization" provide a strong foundation for the company[31](index=31&type=chunk)[32](index=32&type=chunk) - **International Market Driver**: Chinese communication enterprises are accelerating internationalization, with Southeast Asia's 5G users growing over 40% annually and Africa's submarine cable expansion creating opportunities for network construction and services; the company's Philippine subsidiary is performing well[33](index=33&type=chunk)[34](index=34&type=chunk) - **Innovation Driver**: The company focuses on technological innovation, independently developing a series of smart canteen products using IoT, AI, big data, and cloud computing to achieve precise and intelligent catering services[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk) [Company's Business Model](index=13&type=section&id=%E5%85%AC%E5%8F%B8%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company secures contracts through bidding to provide communication and IT services, supported by comprehensive internal management systems - The company primarily provides communication and information technology services to domestic and international telecom operators, government agencies, and enterprises through a competitive bidding process[37](index=37&type=chunk) - The company has independent and complete systems for R&D, quality control, occupational health and safety, and environmental management, with an operational flow covering the entire project lifecycle[37](index=37&type=chunk) - Key 5G performance indicators include user experience rates (0.1-1Gbps), connection density (1 million per sq km), and end-to-end latency (millisecond-level), requiring significant improvements in efficiency[37](index=37&type=chunk) [Industry Overview During the Reporting Period](index=15&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E7%9A%84%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The communication technology service industry is expanding due to national digitalization, with stable domestic growth and global advancements toward 6G - The domestic communication technology service industry benefits from accelerated social informatization, expanding its scope to various sectors and gaining strong policy support for digital transformation[47](index=47&type=chunk)[48](index=48&type=chunk) - In H1 2025, China's total optical cable length reached **73.77 million km** (up 9.9% YoY), and the number of 5G base stations reached **4.549 million** (a net increase of 298,000)[49](index=49&type=chunk) - The global communication industry is at a key stage of 5G-A commercialization and 6G standardization, with deep integration of AI, edge computing, and satellite communications driving a transition to low-carbon networks[51](index=51&type=chunk)[52](index=52&type=chunk) [Company's Industry Position](index=17&type=section&id=%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E7%9A%84%E8%A1%8C%E4%B8%9A%E5%9C%B0%E4%BD%8D) The company is a specialized service provider with high-level qualifications, extensive intellectual property, and a strong client base - The company has become a specialized communication and information technology service provider with strong service capabilities, high technical standards, and a complete business chain[59](index=59&type=chunk) - As of the end of the reporting period, the company held numerous high-level qualifications, **129 patents**, and **210 software copyrights**, and participated in drafting 14 national and 10 industry standards[59](index=59&type=chunk) - Key clients include major telecom operators like China Mobile, China Telecom, China Unicom, and China Broadnet, with active expansion into non-operator and international markets; its Philippine subsidiary is a mainstream service provider locally[59](index=59&type=chunk)[60](index=60&type=chunk) [Applicable Policy Documents](index=18&type=section&id=%E9%80%82%E7%94%A8%E6%94%BF%E7%AD%96%E6%96%87%E4%BB%B6) This section lists national policies guiding the company's development in digital economy, 5G, big data, and other key areas - The "14th Five-Year Plan for National Informatization" aims for decisive progress in building a digital China by 2025, with a significant leap in informatization levels[62](index=62&type=chunk) - The "14th Five-Year Plan for Digital Economy Development" identifies the digital economy as the main economic form following agricultural and industrial economies, driving profound changes[62](index=62&type=chunk) - The "Overall Layout Plan for Digital China Construction" aims to establish an integrated and efficient digital infrastructure by 2025[63](index=63&type=chunk) [Industry Development Drivers](index=21&type=section&id=%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) Industry growth is driven by policies promoting high-quality network construction, the digital economy, and digitalization in the catering sector - **Policy-driven network development**: The "14th Five-Year Plan" calls for accelerating the large-scale deployment of 5G, upgrading gigabit fiber networks, and preparing for 6G technology[64](index=64&type=chunk) - **Digital economy driving multi-industry growth**: Rapid advancements in information technology are profoundly impacting economic and social progress, with the scale of IoT connections expected to create **$5.5 to $12.6 trillion** in economic value globally by 2030[65](index=65&type=chunk) - **Digitalization enhancing the catering industry**: The large but competitive group catering market is turning to digitalization to improve efficiency and reduce costs, creating opportunities for smart canteen solutions[66](index=66&type=chunk)[67](index=67&type=chunk) [II. Core Competitiveness Analysis](index=22&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's competitiveness stems from its brand, R&D innovation, quality, experienced teams, and strategic industry position - The company has a **40-year brand advantage**, earning a strong reputation and a large, high-quality client base in the domestic communication and IT service industry[69](index=69&type=chunk) - The company invests heavily in R&D and innovation, holding **129 patents and 210 software copyrights** as of June 30, 2025, and has participated in drafting numerous national and industry standards[70](index=70&type=chunk) - The company holds multiple high-level qualifications, including **Grade A for engineering design and survey** and **Grade A for information and communication network system integration**, enhancing its market competitiveness[77](index=77&type=chunk) - Positioned at the upstream of the industry chain, the company possesses core technology in top-level information design, giving it a technical advantage in shortening project cycles and reducing costs for EPC projects[78](index=78&type=chunk) [Brand Advantage](index=22&type=section&id=%E5%93%81%E7%89%8C%E4%BC%98%E5%8A%BF) With 40 years of history, the company has built a strong reputation and client base in the communication and IT service industry [Technology and R&D Innovation Advantage](index=22&type=section&id=%E6%8A%80%E6%9C%AF%E5%8F%8A%E7%A0%94%E5%8F%91%E5%88%9B%E6%96%B0%E4%BC%98%E5%8A%BF) The company prioritizes R&D, holding 129 patents and 210 software copyrights, and collaborates with universities to maintain its technological edge [Product Quality Advantage](index=22&type=section&id=%E4%BA%A7%E5%93%81%E8%B4%A8%E9%87%8F%E4%BC%98%E5%8A%BF) The company adheres to strict quality management systems, consistently ranking high in post-evaluations and winning multiple engineering awards [Management Team Advantage](index=22&type=section&id=%E7%AE%A1%E7%90%86%E5%9B%A2%E9%98%9F%E4%BC%98%E5%8A%BF) The core management team's professionalism, strategic vision, and collaborative spirit are key drivers of the company's sustainable development [Technical Team Advantage](index=23&type=section&id=%E6%8A%80%E6%9C%AF%E5%9B%A2%E9%98%9F%E4%BC%98%E5%8A%BF) A well-structured and highly skilled technical team provides strong support for business expansion and maintains the company's industry influence [Service Advantage](index=23&type=section&id=%E6%9C%8D%E5%8A%A1%E4%BC%98%E5%8A%BF) The company offers customized, cross-regional services and 24-hour technical support through its national network, focusing on service excellence [Platform and Background Advantage](index=23&type=section&id=%E5%B9%B3%E5%8F%B0%E5%8F%8A%E8%83%8C%E6%99%AF%E4%BC%98%E5%8A%BF) As a listed company with a university background, it benefits from enhanced visibility, financial strength, and access to talent and R&D support [Qualification Advantage](index=23&type=section&id=%E8%B5%84%E8%B4%A8%E4%BC%98%E5%8A%BF) The company and its subsidiaries hold numerous high-level qualifications, including Grade A engineering design and survey licenses [Industry Chain Position Advantage](index=23&type=section&id=%E4%BA%A7%E4%B8%9A%E9%93%BE%E6%89%80%E5%A4%84%E4%BD%8D%E7%BD%AE%E4%BC%98%E5%8A%BF) Positioned upstream in the industry chain, the company's core technology in top-level design provides a strategic advantage in project execution [III. Main Business Analysis](index=23&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In H1 2025, revenue fell 7.11% and net profit turned to a loss of RMB 15.68 million due to market competition and rising costs Key Financial Data for H1 2025 | Indicator | Amount (RMB 10,000) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 21,871.02 | -7.11% | | Operating Costs | 18,038.56 | -2.95% | | Selling Expenses | 866.14 | 39.64% | | Administrative Expenses | 3,144.04 | 25.97% | | R&D Investment | 1,379.06 | 23.27% | | Net Profit Attributable to Shareholders of the Listed Company | -1,567.81 | -316.25% | | Net Cash Flow from Operating Activities | -9,639.12 | 0.03% | | Net Cash Flow from Financing Activities | 9,852.44 | 170.39% | - The company continues to integrate technology and business scenarios, strengthening its traditional services while developing new strategic areas like smart canteens and data resource management[81](index=81&type=chunk) - The net loss in H1 was mainly due to **intensified competition** leading to lower bid-winning discount rates, **concentrated project implementation** causing a short-term drop in gross margin, and **increased expenses** for new business expansion[86](index=86&type=chunk) [Overview](index=23&type=section&id=%E6%A6%82%E8%BF%B0) In H1 2025, revenue was RMB 218.71 million, down 7.11% YoY, while net profit attributable to shareholders was a loss of RMB 15.68 million [Main Operations](index=24&type=section&id=%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) The company is advancing new strategic initiatives in smart canteens and digital transformation while building a national service network [Performance During the Reporting Period](index=24&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%9A%E7%BB%A9%E6%83%85%E5%86%B5) The net loss was caused by intensified competition, concentrated project costs, and increased spending on new business development [Changes in Key Financial Data Year-over-Year](index=25&type=section&id=%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%E5%90%8C%E6%AF%94%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Selling expenses rose 39.64% due to market expansion, and financial expenses increased 260.90% from higher loan interest Year-over-Year Changes in Key Financial Data | Indicator | Current Period (RMB) | Same Period Last Year (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 8,661,371.84 | 6,202,720.10 | 39.64% | Primarily due to increased investment in market layout, product expansion, and brand building for smart application products | | Financial Expenses | 3,504,678.48 | 971,106.84 | 260.90% | Primarily due to an increase in interest on credit loans | | Net Cash Flow from Investing Activities | -2,858,260.93 | -9,717,327.15 | 70.59% | Primarily due to a decrease in purchases of fixed assets and long-term assets | | Net Cash Flow from Financing Activities | 98,524,419.71 | 36,438,526.69 | 170.39% | Primarily due to an increase in financing during the reporting period | [Products or Services Accounting for Over 10% of Revenue](index=25&type=section&id=%E5%8D%A0%E6%AF%94%2010%25%E4%BB%A5%E4%B8%8A%E7%9A%84%E4%BA%A7%E5%93%81%E6%88%96%E6%9C%8D%E5%8A%A1%E6%83%85%E5%86%B5) Design and engineering services are the main revenue sources, with design service revenue up 1.80% and engineering service revenue down 11.98% Products or Services Accounting for Over 10% | Product or Service | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin | YoY Change in Revenue | YoY Change in Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Design Services | 95,009,307.65 | 69,277,815.93 | 27.08% | 1.80% | 19.80% | -10.96% | | Engineering Services | 115,880,267.25 | 104,906,145.75 | 9.47% | -11.98% | -12.69% | 0.73% | [Industries Accounting for Over 10% of Revenue or Profit](index=26&type=section&id=%E5%8D%A0%E5%85%AC%E5%8F%B8%E8%90%A5%E4%B8%9A%E6%94%B6%E5%85%A5%E6%88%96%E8%90%A5%E4%B8%9A%E5%88%A9%E6%B6%A6%2010%25%E4%BB%A5%E4%B8%8A%E7%9A%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The communication industry is the primary revenue source, with revenue down 6.71% YoY; Northeast China and overseas are key regions By Customer Industry | Customer Industry | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin | YoY Change in Revenue | YoY Change in Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Communication Industry | 212,439,715.14 | 175,073,912.80 | 17.59% | -6.71% | -2.59% | -3.48% | By Product and Region | Product | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin | YoY Change in Revenue | YoY Change in Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Design Services | 95,009,307.65 | 69,277,815.93 | 27.08% | 1.80% | 19.80% | -10.95% | | Engineering Services | 115,880,267.25 | 104,906,145.75 | 9.47% | -11.98% | -12.69% | 0.73% | | Smart Canteen Products | 1,550,140.24 | 889,951.12 | 42.59% | -43.50% | -49.35% | 6.63% | | **By Region** | | | | | | | | Northeast China | 105,715,788.15 | 87,630,770.69 | 17.11% | -6.22% | -9.32% | 2.84% | | Overseas | 47,778,257.30 | 41,679,046.41 | 12.77% | -10.09% | -5.55% | -4.19% | [Main Business Cost Composition](index=26&type=section&id=%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%88%90%E6%9C%AC%E6%9E%84%E6%88%90) Main business costs are dominated by outsourced engineering labor (42.02%) and employee compensation (23.11%) Main Business Cost Composition | Cost Component | Current Period Amount (RMB) | % of Operating Cost | Same Period Last Year Amount (RMB) | % of Operating Cost | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Outsourced Engineering Labor | 73,574,686.75 | 42.02% | 80,416,176.83 | 44.74% | -8.51% | | Employee Compensation | 40,465,706.31 | 23.11% | 39,130,616.58 | 21.77% | 3.41% | | Travel and Transportation | 10,059,151.28 | 5.75% | 9,065,462.03 | 5.04% | 10.96% | | Outsourced Design Labor | 6,957,760.29 | 3.97% | 6,723,940.63 | 3.74% | 3.48% | | Material Costs | 13,273,874.59 | 7.58% | 13,554,319.99 | 7.54% | -2.07% | | Engineering Vehicle Usage | 16,722,394.95 | 9.55% | 17,079,752.91 | 9.50% | -2.09% | | Others | 11,971,779.77 | 6.84% | 11,932,664.31 | 6.64% | 0.33% | | Depreciation and Amortization | 2,048,558.86 | 1.17% | 1,834,212.90 | 1.02% | 11.69% | - The company operates in a knowledge and technology-intensive industry, with labor costs accounting for **69.10%** of the main business costs[93](index=93&type=chunk) [R&D Investment](index=26&type=section&id=%E7%A0%94%E5%8F%91%E6%8A%95%E5%85%A5%E6%83%85%E5%86%B5) R&D investment was RMB 13.79 million, up 23.27% YoY, focusing on communication technology and "Smart Canteen" products - During the reporting period, the company's R&D investment amounted to **RMB 13,790,577.71**, accounting for **6.31%** of operating revenue, an increase of **23.27%** year-over-year[94](index=94&type=chunk) - R&D investment was directed towards projects related to the main business, including communication and information technology, and "Smart Canteen" products[94](index=94&type=chunk) [IV. Non-Core Business Analysis](index=27&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 income stems from volatile and non-sustainable sources like investment gains, government grants, and litigation compensation Non-Core Business Profit and Loss Items and Amounts | Item | Amount (RMB) | % of Total Profit | Reason | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 30,000.00 | -0.19% | Income from wealth management products | No | | Asset Impairment | 6,580.00 | -0.04% | Mainly due to a decrease in contract asset impairment | No | | Non-operating Income | 2,560,240.74 | -16.53% | Mainly from litigation compensation | No | | Non-operating Expenses | 1,772.64 | -0.01% | Mainly charitable donation expenses | No | | Credit Impairment Loss | -205,136.68 | 1.32% | Mainly bad debt provisions for accounts receivable and other receivables | No | | Other Income | 605,868.79 | -3.91% | Mainly government grants | No | [V. Analysis of Assets and Liabilities](index=27&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total assets grew 3.09%, with inventories and short-term borrowings increasing; restricted assets include litigation-related funds and guarantee deposits Significant Changes in Asset Composition | Item | Amount at Period End (RMB) | % of Total Assets | Amount at Year End (RMB) | % of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Inventories | 486,648,222.32 | 31.26% | 410,761,006.21 | 27.20% | 4.06% | | Short-term Borrowings | 327,207,148.00 | 21.02% | 271,889,140.08 | 18.00% | 3.02% | | Total Assets | 1,556,767,377.34 | | 1,510,094,215.45 | | 3.09% | - The main overseas asset is Jida Communication (Philippines) Inc, a medium-sized entity operating independently in the Philippines with normal profitability, accounting for **12.78%** of the company's net assets[99](index=99&type=chunk) - As of the period end, **RMB 1,150,000.09** was restricted due to litigation pledges or freezes, and **RMB 14,853,047.23** in other monetary funds served as guarantee deposits[101](index=101&type=chunk) [1. Significant Changes in Asset Composition](index=27&type=section&id=1%E3%80%81%E8%B5%84%E4%BA%A7%E6%9E%84%E6%88%90%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Total assets grew 3.09%, with the proportion of inventories and short-term borrowings increasing by 4.06% and 3.02% respectively [2. Major Overseas Assets](index=27&type=section&id=2%E3%80%81%E4%B8%BB%E8%A6%81%E5%A2%83%E5%A4%96%E8%B5%84%E4%BA%A7%E6%83%85%E5%86%B5) The main overseas asset is the independently operated and profitable Philippine subsidiary, accounting for 12.78% of the company's net assets [3. Assets and Liabilities Measured at Fair Value](index=28&type=section&id=3%E3%80%81%E4%BB%A5%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E8%AE%A1%E9%87%8F%E7%9A%84%E8%B5%84%E4%BA%A7%E5%92%8C%E8%B4%9F%E5%80%BA) The company had no assets or liabilities measured at fair value during the reporting period [4. Restricted Asset Rights as of the Reporting Period End](index=28&type=section&id=4%E3%80%81%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%B5%84%E4%BA%A7%E6%9D%83%E5%88%A9%E5%8F%97%E9%99%90%E6%83%85%E5%86%B5) Restricted assets include RMB 1.15 million frozen due to litigation and RMB 14.85 million held as guarantee deposits [VI. Investment Status Analysis](index=28&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) No major investments were made; 43.84% of raised funds have been used for projects currently under construction Overall Use of Raised Funds | Year of Fundraising | Method | Total Funds Raised (RMB 10,000) | Net Funds Raised (RMB 10,000) | Funds Used This Period (RMB 10,000) | Cumulative Funds Used (RMB 10,000) | Usage Ratio at Period End | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 2022 | Private Placement | 21,333.37 | 20,071.89 | 64.16 | 8,800.09 | 43.84% | - Committed projects for raised funds include the Government and Enterprise Digital Intelligence Business Center, "Smart Canteen" Industrialization, and Smart Mid-end Platform, all under construction and not yet operational as of November 28, 2025[107](index=107&type=chunk) - The company had no wealth management, derivatives investment, or entrusted loan activities during the reporting period[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk) [1. Overall Situation](index=28&type=section&id=1%E3%80%81%E6%80%BB%E4%BD%93%E6%83%85%E5%86%B5) The company had no major investment activities during the reporting period [2. Significant Equity Investments Acquired During the Reporting Period](index=28&type=section&id=2%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%8E%B7%E5%8F%96%E7%9A%84%E9%87%8D%E5%A4%A7%E7%9A%84%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84%E6%83%85%E5%86%B5) The company did not acquire any significant equity investments during the reporting period [3. Significant Non-Equity Investments in Progress During the Reporting Period](index=28&type=section&id=3%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%AD%A3%E5%9C%A8%E8%BF%9B%E8%A1%8C%E7%9A%84%E9%87%8D%E5%A4%A7%E7%9A%84%E9%9D%9E%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84%E6%83%85%E5%86%B5) The company had no significant ongoing non-equity investments during the reporting period [4. Financial Assets Measured at Fair Value](index=28&type=section&id=4%E3%80%81%E4%BB%A5%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E8%AE%A1%E9%87%8F%E7%9A%84%E9%87%91%E8%9E%8D%E8%B5%84%E4%BA%A7) The company held no financial assets measured at fair value during the reporting period [5. Use of Raised Funds](index=28&type=section&id=5%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) Net proceeds of RMB 200.72 million were raised in 2022, with 43.84% used for projects still under construction Overall Use of Raised Funds | Year of Fundraising | Method | Total Funds Raised (RMB 10,000) | Net Funds Raised (RMB 10,000) | Funds Used This Period (RMB 10,000) | Cumulative Funds Used (RMB 10,000) | Usage Ratio at Period End | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 2022 | Private Placement | 21,333.37 | 20,071.89 | 64.16 | 8,800.09 | 43.84% | Committed Projects for Raised Funds | Project Name | Total Committed Investment (RMB 10,000) | Amount Invested This Period (RMB 10,000) | Cumulative Amount Invested (RMB 10,000) | Investment Progress | Expected Completion Date | Benefits This Period | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Government and Enterprise Digital Intelligence Business Center Project | 9,675.33 | 49.3 | 3,156.13 | 32.62% | Nov 28, 2025 | 0 | | "Smart Canteen" Industrialization Project | 7,246.8 | 4.55 | 4,093.37 | 56.49% | Nov 28, 2025 | 0 | | Smart Mid-end Platform Construction Project | 3,149.75 | 10.32 | 1,550.59 | 49.23% | Nov 28, 2025 | 0 | - The Government and Enterprise Digital Intelligence Business Center and "Smart Canteen" projects are under construction; the Smart Mid-end Platform is for internal use and will not directly generate revenue but will enhance core competitiveness[107](index=107&type=chunk) [6. Entrusted Wealth Management, Derivatives Investment, and Entrusted Loans](index=32&type=section&id=6%E3%80%81%E5%A7%94%E6%89%98%E7%90%86%E8%B4%A2%E3%80%81%E8%A1%8D%E7%94%9F%E5%93%81%E6%8A%95%E8%B5%84%E5%92%8C%E5%A7%94%E6%89%98%E8%B4%B7%E6%AC%BE%E6%83%85%E5%86%B5) The company had no entrusted wealth management, derivatives investment, or entrusted loan activities during the reporting period [VII. Major Asset and Equity Sales](index=32&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) No major sales of assets or equity occurred during the reporting period - The company did not sell any major assets during the reporting period[114](index=114&type=chunk) - The company did not sell any major equity during the reporting period[115](index=115&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=32&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) The company's main subsidiaries include entities in construction, technology, and investment, with two reporting net losses Major Subsidiaries and Associates with >10% Impact on Net Profit | Company Name | Type | Main Business | Registered Capital (RMB) | Total Assets (RMB) | Net Assets (RMB) | Operating Revenue (RMB) | Operating Profit (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jilin Changyou Communication Construction Co, Ltd | Subsidiary | Communication Network Engineering | 150,000,000.00 | 338,301,476.32 | 190,158,733.93 | 84,716,950.07 | 855,998.40 | 687,687.43 | | Zhongpu Huilian Information Technology (Shanghai) Co, Ltd | Subsidiary | Smart and Information Business | 113,000,000.00 | 226,033,234.54 | 79,124,315.23 | 6,009,059.81 | -10,981,490.13 | -10,979,341.25 | | JIDA COMMUNICATION(PHILIPPINES) INC. | Subsidiary | Communication Network Engineering | 19,817,372.70 | 124,321,787.52 | 34,429,266.95 | 35,495,215.69 | -406,094.99 | -406,094.99 | - Jilin Changyou Communication Construction Co, Ltd specializes in communication engineering construction, electronic and intelligent engineering, and system integration[117](index=117&type=chunk) - Zhongpu Huilian Information Technology (Shanghai) Co, Ltd focuses on smart and information businesses and reported a **net loss** for the period[117](index=117&type=chunk)[118](index=118&type=chunk) - Jida Communication (Philippines) Inc provides communication engineering, broadband installation, and maintenance services, and reported a **net loss** for the period[118](index=118&type=chunk) [IX. Structured Entities Controlled by the Company](index=34&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 did not control any structured entities during the reporting period[122](index=122&type=chunk) [X. Risks and Countermeasures](index=34&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 from market competition, declining margins, and high receivables, which it plans to mitigate through various strategies - **Market Competition Risk**: Increased demands from telecom operators require the company to adapt to market changes and explore new business areas[122](index=122&type=chunk) - **Gross Margin Decline Risk**: Intensifying competition and rising labor costs necessitate a focus on policy alignment, service quality, and cost control[123](index=123&type=chunk) - **High Accounts Receivable Risk**: As of June 30, 2025, accounts receivable balance was **RMB 404.26 million**, representing **25.97%** of total assets, requiring strengthened collection efforts[123](index=123&type=chunk)[124](index=124&type=chunk) - **International Business Risk**: Political instability, economic fluctuations, and policy changes require close monitoring, early warning systems, and risk mitigation through tools like export credit insurance[124](index=124&type=chunk)[125](index=125&type=chunk) - **Smart Product Business Risk**: Market competition and changing customer demands require building core competitiveness through product innovation, R&D, and enhanced marketing[125](index=125&type=chunk) [XI. Record of Investor Relations Activities](index=35&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) The company held an online investor communication event on May 27, 2025, with details available on designated platforms - The company hosted an online communication session for other types of recipients on May 27, 2025[126](index=126&type=chunk) - Details of the discussion and materials provided are available on Cninfo (www.cninfo.com.cn) and the SZSE's "Easy IR" platform (http://irm.cninfo.com.cn)[126](index=126&type=chunk) [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=35&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) A market value management system was approved on July 2, 2025, but a valuation enhancement plan has not yet been disclosed - The company has formulated a market value management system[127](index=127&type=chunk) - The "Market Value Management System" was reviewed and approved at the fourth meeting of the fifth Board of Directors on July 2, 2025[127](index=127&type=chunk) - The company has not yet disclosed a valuation enhancement plan[127](index=127&type=chunk) [XIII. Implementation of the "Dual Improvement of Quality and Return" Action Plan](index=35&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%22%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%22%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 yet disclosed its "Dual Improvement of Quality and Return" action plan - The company has not yet disclosed an announcement regarding its "Dual Improvement of Quality and Return" action plan[128](index=128&type=chunk) [Section 4 Corporate Governance, Environment, and Society](index=36&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) [I. Changes in Directors, Supervisors, and Senior Management](index=36&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) No changes occurred among the company's directors, supervisors, or senior management during the reporting period - There were no changes in the company's directors, supervisors, or senior management during the reporting period[130](index=130&type=chunk) [II. Profit Distribution and Capitalization of Capital Reserves for the Current Reporting Period](index=36&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 does not plan to distribute cash dividends, issue bonus shares, or capitalize capital reserves for the semi-annual period - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from capital reserves for the semi-annual period[131](index=131&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=36&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 2024 Employee Stock Ownership Plan completed a non-trading transfer of 6.77 million shares, representing 2.48% of total equity - The company had no specific implementation of equity incentives during this reporting period[132](index=132&type=chunk) All Effective Employee Stock Ownership Plans During the Reporting Period | Scope of Employees | Number of Employees | Total Shares Held (shares) | % of Total Share Capital | Source of Funds | | :--- | :--- | :--- | :--- | :--- | | Core Company Personnel | 276 | 6,769,652 | 2.48% | Employee's legal remuneration, self-raised funds, and other methods permitted by laws and regulations | - The company's employee stock ownership plan exercised shareholder rights for the 2024 annual cash dividend and voting rights at the general meeting[134](index=134&type=chunk) [IV. Environmental Information Disclosure](index=37&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 main subsidiaries are not listed as enterprises required to disclose environmental information by law - The listed company and its main subsidiaries are not included in the list of enterprises required to disclose environmental information by law[135](index=135&type=chunk) [V. Social Responsibility](index=37&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 is committed to protecting stakeholder rights, ensuring employee welfare, and engaging in social公益 activities - The company adheres to laws and regulations, improves corporate governance, protects shareholder rights, and actively communicates with investors[135](index=135&type=chunk) - The company respects its employees, focuses on their health, safety, and satisfaction, and continuously improves its welfare and care systems[137](index=137&type=chunk) - In H1 2025, the company donated supplies to the Changchun Children's Welfare Institute, fulfilling its social obligations[138](index=138&type=chunk) [Section 5 Important Matters](index=39&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [I. Commitments Fulfilled or Overdue by Relevant Parties](index=39&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) No commitments were fulfilled or remained overdue by the company's controlling persons, shareholders, or other related parties - The company reports no commitments fulfilled or overdue by its actual controller, shareholders, related parties, acquirers, or the company itself during the reporting period[140](index=140&type=chunk) [II. Non-operational Fund Occupation by Controlling Shareholders and Other Related Parties](index=39&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) No non-operational funds of the company were occupied by its controlling shareholder or other related parties - The company reports no non-operational occupation of its funds by the controlling shareholder or other related parties during the reporting period[141](index=141&type=chunk) [III. Irregular External Guarantees](index=39&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) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[142](index=142&type=chunk) [IV. Appointment and Dismissal of Accounting Firm](index=39&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 has not been audited - The company's semi-annual report has not been audited[143](index=143&type=chunk) [V. Explanation on "Non-standard Audit Report" by the Board, Supervisory Committee, and Audit Committee](index=39&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%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9A%84%E8%AF%B4%E6%98%8E) No "non-standard audit report" was issued by the accounting firm for the reporting period - No "non-standard audit report" was issued by the accounting firm for the reporting period[144](index=144&type=chunk) [VI. Board's Explanation on Last Year's "Non-standard Audit Report"](index=39&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%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) No explanation regarding a "non-standard audit report" from the previous year was applicable - No explanation regarding a "non-standard audit report" from the previous year was applicable[144](index=144&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=39&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) No bankruptcy or reorganization matters occurred during the reporting period - No bankruptcy or reorganization matters occurred during the reporting period[144](index=144&type=chunk) [VIII. Litigation Matters](index=39&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company had no major litigation or arbitration, while other ongoing lawsuits are not expected to have a significant impact - The company had no major litigation or arbitration matters during this reporting period[145](index=145&type=chunk) Other Litigation Matters | Litigation (Arbitration) Details | Amount Involved (RMB 10,000) | Provision Formed | Progress | Impact | | :--- | :--- | :--- | :--- | :--- | | Jida Communication (Parent) as plaintiff in other non-material litigation/arbitration | 389.63 | No | Cases are progressing as scheduled | No significant impact | | Jida Communication (Parent) as defendant in other non-material litigation/arbitration | 46.18 | No | Cases are progressing as scheduled | No significant impact | | Changyou Communication as plaintiff in other non-material litigation/arbitration | 2,434.39 | No | Cases are progressing as scheduled | No significant impact | | Changyou Communication as defendant in other non-material litigation/arbitration | 514.11 | No | Cases are progressing as scheduled | No significant impact | | Philippine subsidiary as defendant in other non-material litigation/arbitration | 21.74 | No | Cases are progressing as scheduled | No significant impact | | Zhixin No. 2 as plaintiff in other non-material litigation/arbitration | 2,148.35 | No | Cases are progressing as scheduled | No significant impact | [IX. Penalties and Rectifications](index=40&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) No penalties or rectifications occurred during the reporting period - No penalties or rectifications occurred during the reporting period[147](index=147&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholders, and Actual Controller](index=40&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) The company's controlling shareholder and actual controller maintained a good integrity record with no major defaults - During the reporting period, the company's controlling shareholder and actual controller had no integrity issues such as failure to comply with effective court judgments or large overdue debts[148](index=148&type=chunk) [XI. Major Related-Party Transactions](index=41&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) No major related-party transactions related to daily operations, asset acquisitions, or debt occurred during the period - The company had no related-party transactions related to daily operations during the reporting period[149](index=149&type=chunk) - The company had no related-party transactions involving the acquisition or sale of assets or equity during the reporting period[150](index=150&type=chunk) - The company had no related-party credit or debt transactions during the reporting period[152](index=152&type=chunk) [XII. Major Contracts and Their Performance](index=41&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) No major contracts concerning custody, contracting, leasing, guarantees, or other significant matters were reported - The company had no custody arrangements during the reporting period[156](index=156&type=chunk) - The company had no contracting arrangements during the reporting period[158](index=158&type=chunk) - The company had no leasing arrangements during the reporting period[159](index=159&type=chunk) - The company had no major guarantee arrangements during the reporting period[160](index=160&type=chunk) - The company had no major contracts related to daily operations during the reporting period[161](index=161&type=chunk) - The company had no other major contracts during the reporting period[162](index=162&type=chunk) [XIII. Explanation of Other Major Matters](index=42&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) The company disclosed its 2024 performance forecast, completed the employee stock ownership plan transfer, and approved changes to its business scope - The company disclosed its "2024 Annual Performance Forecast" on January 21, 2025[163](index=163&type=chunk) - The company announced the completion of the non-trading transfer of shares for its 2024 Employee Stock Ownership Plan on March 25, 2025[163](index=163&type=chunk) - The Board of Directors approved the "Proposal on Changing the Business Scope and Amending the Articles of Association" on June 26, 2025[165](index=165&type=chunk) [XIV. Major Matters of Company Subsidiaries](index=42&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) No major matters concerning the company's subsidiaries occurred during the reporting period - No major matters concerning the company's subsidiaries occurred during the reporting period[166](index=166&type=chunk) [Section 6 Changes in Share Capital and Shareholders](index=43&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) [I. Changes in Share Capital](index=43&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) The total number of shares remained unchanged at 272,570,030, with 6.77 million repurchased shares transferred to the employee stock plan Share Capital Changes | Category | Quantity Before Change | Proportion Before Change | Change (+, -) | Quantity After Change | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Shares with Selling Restrictions | 1,197,792 | 0.44% | 0 | 1,197,792 | 0.44% | | II. Shares without Selling Restrictions | 271,372,238 | 99.56% | 0 | 271,372,238 | 99.56% | | III. Total Shares | 272,570,030 | 100.00% | 0 | 272,570,030 | 100.00% | - As of November 7, 2024, the company's repurchase-dedicated securities account held **12,757,700 shares**, representing **4.68%** of the total share capital[169](index=169&type=chunk) - On March 24, 2025, **6,769,652 shares** from the repurchase account were transferred to the "Jilin Jida Communication Design Institute Co, Ltd - 2024 Employee Stock Ownership Plan" account, representing approximately **2.48%** of the total share capital[169](index=169&type=chunk) [II. Securities Issuance and Listing](index=47&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) No securities were issued or listed during the reporting period - No securities were issued or listed during the reporting period[172](index=172&type=chunk) [III. Number of Shareholders and Shareholding Status](index=45&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) The company had 23,090 common shareholders, with Jilin Jida Holding Co, Ltd being the largest shareholder at 17.61% - The total number of common shareholders at the end of the reporting period was **23,090**[173](index=173&type=chunk) Shareholding of Top 10 Shareholders or Those with >5% Stake | Shareholder Name | Nature | Shareholding Ratio | Shares Held at Period End | Number of Unrestricted Shares | | :--- | :--- | :--- | :--- | :--- | | Jilin Jida Holding Co, Ltd | State-owned Legal Person | 17.61% | 48,000,000 | 48,000,000 | | Zhou Shuang | Domestic Natural Person | 4.32% | 11,765,300 | 11,765,300 | | Jilin Jida Communication Design Institute Co, Ltd - 2024 Employee Stock Ownership Plan | Other | 2.48% | 6,769,652 | 6,769,652 | | Wu Liangchun | Domestic Natural Person | 1.83% | 4,988,743 | 4,988,743 | - The company's repurchase-dedicated securities account held **5,988,048 shares**, representing **2.20%** of the total, ranking as the 4th largest shareholder[174](index=174&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=47&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) There were no changes in the shareholdings of directors, supervisors, or senior management during the reporting period - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period[176](index=176&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=47&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) No changes occurred in the company's controlling shareholder or actual controller during the reporting period - The company's controlling shareholder did not change during the reporting period[177](index=177&type=chunk) - The company's actual controller did not change during the reporting period[177](index=177&type=chunk) [VI. Preferred Shares](index=47&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) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[178](index=178&type=chunk) [Section 7 Bond-related Matters](index=48&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) [Bond-related Matters](index=48&type=section&id=%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[180](index=180&type=chunk) [Section 8 Financial Report](index=49&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) [I. Audit Report](index=49&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 has not been audited - The company's semi-annual financial report has not been audited[182](index=182&type=chunk) [II. Financial Statements](index=49&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the consolidated and parent company financial statements for H1 2025 Consolidated Balance Sheet Highlights (June 30, 2025) | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 335,982,255.32 | 334,593,210.90 | | Accounts Receivable | 404,259,717.44 | 442,966,766.17 | | Inventories | 486,648,222.32 | 410,761,006.21 | | Total Current Assets | 1,284,109,883.64 | 1,235,405,837.70 | | Total Assets | 1,556,767,377.34 | 1,510,094,215.45 | | Short-term Borrowings | 327,207,148.00 | 271,889,140.08 | | Total Liabilities | 584,241,799.40 | 521,834,217.29 | | Total Equity Attributable to Parent Company Shareholders | 957,930,874.58 | 973,622,258.60 | | Total Equity | 972,525,577.94 | 988,259,998.16 | Consolidated Income Statement Highlights (H1 2025) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 218,710,203.02 | 235,442,128.24 | | Total Operating Costs | 237,226,102.71 | 227,624,649.45 | | Operating Profit | -18,050,376.12 | 8,158,308.38 | | Total Profit | -15,491,908.02 | 8,147,109.34 | | Net Profit | -15,721,133.74 | 7,161,778.70 | | Net Profit Attributable to Parent Company Shareholders | -15,678,097.54 | 7,249,922.09 | | Basic Earnings Per Share | -0.0603 | 0.0266 | Consolidated Cash Flow Statement Highlights (H1 2025) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -96,391,156.36 | -96,415,698.25 | | Net Cash Flow from Investing Activities | -2,858,260.93 | -9,717,327.15 | | Net Cash Flow from Financing Activities | 98,524,419.71 | 36,438,526.69 | | Net Increase in Cash and Cash Equivalents | -690,182.45 | -69,860,357.41 | [1. Consolidated Balance Sheet](index=49&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, total consolidated assets were RMB 1.56 billion, up 3.09%, driven by increased inventories and short-term borrowings [2. Parent Company Balance Sheet](index=52&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 RMB 1.42 billion, up 6.37%, with notable increases in other receivables and short-term borrowings [3. Consolidated Income Statement](index=54&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) For H1 2025, consolidated revenue was RMB 219 million, down 7.11% YoY, with net profit attributable to shareholders turning to a loss of RMB 15.68 million [4. Parent Company Income Statement](index=55&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 H1 2025, the parent company's revenue was RMB 93.86 million, and net profit turned to a loss of RMB 6.16 million from a profit of RMB 10.07 million last year [5. Consolidated Cash Flow Statement](index=56&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 H1 2025, net operating cash outflow was RMB 96.39 million, while net financing cash inflow increased significantly due to more financing [6. Parent Company Cash Flow Statement](index=58&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 H1 2025, the parent company's net operating cash outflow was RMB 57.83 million, while net financing cash inflow increased substantially [7. Consolidated Statement of Changes in Equity](index=59&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) As of June 30, 2025, total consolidated equity was RMB 973 million, a slight decrease due to the net loss for the period [8. Parent Company Statement of Changes in Equity](index=66&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) As of June 30, 2025, the parent company's total equity was RMB 944 million, slightly down due to the net loss, offset by an increase in capital reserve from share-based payments [III. Company Basic Information](index=68&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Jilin Jida Communication Design Institute Co, Ltd was established in 2010, listed in 2017, and operates in four main business segments - Jilin Jida Communication Design Institute Co, Ltd was listed on the Shenzhen Stock Exchange on January 23, 2017, with the stock symbol "300597"[213](index=213&type=chunk) - The company's total share capital increased from 240,000,000 shares to **272,570,030 shares**[213](index=213&type=chunk) - The company's main business activities are communication technology services, information product integration and operation, international business, and investment business[215](index=215&type=chunk) [IV. Basis of Preparation for Financial Statements](index=68&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The financial statements are prepared on a going concern basis in accordance with China's Accounting Standards for Business Enterprises - These financial statements are prepared on a going concern basis, in accordance with the "Accounting Standards for Business Enterprises - Basic Standard" and other specific accounting standards issued by the Ministry of Finance[217](index=217&type=chunk) - The company has the ability to continue as a going concern for at least 12 months from the end of the reporting period, with no major events affecting this ability[218](index=218&type=chunk) [V. Significant Accounting Policies and Estimates](index=68&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the accounting policies for key areas such as revenue recognition, financial instruments, and consolidation - The financial statements comply with the requirements of the "Accounting Standards for Business Enterprises," truly and completely reflecting the company's financial position, operating results, and cash flows[219](index=219&type=chunk) - Financial assets are classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss[239](index=239&type=chunk)[240](index=240&type=chunk) - Revenue is recognized when the customer obtains control of the related goods or services, at the transaction price allocated to that performance obligation, either over time or at a point in time[276](index=276&type=chunk)[277](index=277&type=chunk)[278](index=278&type=chunk)