Core Viewpoint - The company, Sitergy, is facing significant operational challenges, with a notable decline in revenue and persistent losses over the past decade, indicating ongoing profitability issues [1][3]. Financial Performance - In the first half of 2025, Sitergy reported an operating revenue of 180 million yuan, a year-on-year decrease of 24.27%, and a net profit loss of 88 million yuan [1]. - The net profit margin further declined from -33.13% in the first half of 2024 to -49.74% in 2025, while the gross profit margin decreased from 20.01% to 15.47% [3]. - The return on equity stood at -5.89% [3]. Operational Efficiency - The inventory turnover days increased to 396.13 days, a rise of 32.2% compared to the first half of 2024, indicating heightened inventory management pressure [5]. - The net cash flow from operating activities was 69 million yuan, showing a positive turnaround from negative in the same period of 2024 [5]. - The asset-liability ratio for the first half of 2025 was 39.82%, an increase of 0.75 percentage points year-on-year [5]. Institutional Investment - As of the first half of 2025, the number of institutions holding Sitergy's stock decreased to 6, down from 26 in the same period of 2024, reflecting a significant decline in institutional investor confidence [7]. - The company's market capitalization peaked at 6.533 billion yuan on November 15, 2023, but has since fallen to 4.488 billion yuan, requiring a 45.56% increase in stock price to reach its historical high [7].

Financial Performance - The company reported total revenue of 180 million yuan for the first half of 2025, a decrease of 24.27% year-on-year [1] - The net profit attributable to shareholders was -88.06 million yuan, down 13.88% compared to the previous year [1] - The gross margin was 15.47%, reflecting a decline of 22.67% year-on-year, while the net margin was -49.74%, a decrease of 50.12% [1] - The total of selling, administrative, and financial expenses reached 107 million yuan, accounting for 59.38% of total revenue, which is an increase of 50.08% year-on-year [1] Cash Flow and Debt - The company reported operating cash flow per share of 0.21 yuan, a significant increase of 3655.35% year-on-year [1] - The cash and cash equivalents decreased to 461 million yuan, down 29.56% from the previous year [1] - The company’s interest-bearing liabilities increased to 765 million yuan, a rise of 2.87% [1] Historical Performance and Investment Return - The company's historical median Return on Invested Capital (ROIC) since its listing is 10.54%, with the worst year being 2024, which recorded an ROIC of -1.28% [3] - The company has reported a negative net profit in one of the seven annual reports since its listing, indicating potential underlying issues [3] - The average cash flow from operating activities over the past three years has been negative, raising concerns about the company's financial health [3]

Group 1 - The company has announced that the "Si Te Convertible Bond" may meet the redemption conditions due to the stock price being above 130% of the current conversion price for ten trading days from August 4 to August 15, 2025, which is 12.844 CNY per share [1][6] - The initial issuance of the "Si Te Convertible Bond" was approved by the China Securities Regulatory Commission, with a total of 2.71 million bonds issued at a face value of 100 CNY each, totaling 271 million CNY [2] - The conversion price has been adjusted multiple times, with the current conversion price set at 9.88 CNY per share effective from May 23, 2024 [4][3] Group 2 - The company has the right to redeem all or part of the unconverted bonds if the stock price remains above 130% of the conversion price for at least 15 out of 30 consecutive trading days or if the unconverted bond balance is less than 30 million CNY [5][6] - The calculation for the accrued interest upon redemption is specified, taking into account the bondholder's total face value, the annual coupon rate, and the number of days from the last interest payment to the redemption date [5]

Group 1 - The company, Sitergy (SZ 300608), announced the convening of its fifth board meeting on August 15, 2025, to review the semi-annual report and its summary for 2025 [2] - For the first half of 2025, the company's revenue composition was 91.6% from telecommunications and 8.4% from other businesses [2]

思特奇（SZ 300608，收盘价：13.55元）8月15日晚间发布半年度业绩报告称，2025年上半年营业收入 约1.8亿元，同比减少24.27%；归属于上市公司股东的净利润亏损约8806万元；基本每股收益亏损0.27 元。2024年同期营业收入约2.38亿元；归属于上市公司股东的净利润亏损约7733万元；基本每股收益亏 损0.23元。 （文章来源：每日经济新闻） ...

Group 1 - The company announced that from August 4, 2025, to August 15, 2025, its stock price has closed at or above 130% of the current conversion price of "Si Tech Convertible Bonds" (9.88 CNY/share), which is 12.844 CNY/share for ten trading days [1] - If the conditions for the redemption of "Si Tech Convertible Bonds" are triggered, the company has the right to decide whether to redeem all or part of the unconverted convertible bonds at face value plus accrued interest [1] - The redemption condition requires that during the conversion period, the company's stock must close at or above 130% of the current conversion price for at least 15 out of any 30 consecutive trading days [1]

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating revenue of 180 million yuan, representing a year-on-year decrease of 24.27% [1] - The net profit attributable to shareholders of the listed company was -88.0583 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -106 million yuan [1] - The basic earnings per share were -0.27 yuan [1]

| 证券代码：300608 | 证券简称：思特奇 | 公告编号：2025-048 | | --- | --- | --- | | 债券代码：123054 | 债券简称：思特转债 | | 北京思特奇信息技术股份有限公司 第五届董事会第二次会议决议公告 北京思特奇信息技术股份有限公司（以下简称"公司"）第五届董事会第二 次会议于 2025 年 8 月 15 日在公司会议室以现场表决和通讯表决相结合的方式召 开。本次会议已于 2025 年 8 月 4 日以电话、电子邮件等方式通知全体董事。 会议由公司董事长吴飞舟先生主持，会议应出席董事 8 人，实际出席董事 8 人，公司高级管理人员列席了本次会议。会议的召集、召开符合相关法律、行政 法规、规范性文件及《北京思特奇信息技术股份有限公司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过《关于公司 2025 年半年度报告及其摘要的议案》 经与会董事审议，同意公司《2025 年半年度报告》及其摘要。 具体内容详见公司在指定信息披露媒体巨潮资讯网(www.cninfo.com.cn)披 露的《2025 年半年度报告》及其摘要。 表决结果为：8 票同意、0 票反对、0 ...

| 证券代码：300608 | 证券简称：思特奇 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：123054 | 债券简称：思特转债 | | 北京思特奇信息技术股份有限公司 关于计提及转回减值准备的公告 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。 一、本次计提及转回减值准备情况概述 1、本次计提及转回减值准备的原因 北京思特奇信息技术股份有限公司（以下简称"公司"）根据《企业会计准则》 及《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》 等相关规定的要求，为真实、准确反映公司资产价值及经营成果，对截至 2025 年6月30日合并范围内的各类资产进行了全面检查和减值测试。根据测试结果， 基于谨慎性原则，公司对可能发生减值损失的资产计提减值准备。 2、本次计提及转回减值准备的资产范围、总金额和计入的报告期间 公司对截至 2025 年 6 月 30 日存在可能发生减值迹象的资产进行全面清查和 减值测试。截至 2025 年 6 月 30 日，公司转回信用减值损失 15,438,390.70 元， ...

| 证券代码：300608 | 证券简称：思特奇 | 公告编号：2025-051 | | --- | --- | --- | | 债券代码：123054 | 债券简称：思特转债 | | 北京思特奇信息技术股份有限公司 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 经中国证券监督管理委员会《关于核准北京思特奇信息技术股份有限公司公 开发行可转换公司债券的批复》（证监许可[2020]590 号）核准，公司于 2020 年 6 月 10 日公开发行可转换公司债券 271.00 万张，每张面值人民币 100 元，期限 6 年，募集资金总额为人民币 271,000,000.00 元，扣除承销保荐费及其他发行费 用（不含税）人民币 9,176,509.43 元后实际募集资金净额为人民币 261,823,490.57 元。上述募集资金于 2020 年 6 月 16 日到位，已经立信会计师事务所（特殊普通 合伙）审验，并出具了信会师报字【2020】第 ZB11447 号《验证报告》。 2、向特定对象发行股票 根据中国证券监督管理委员会《关于同意北京思特奇信息技术股份有限公司 向特定对象发行股票注册的批复》（ ...