[Section I Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Section%20I%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial disclaimers, the report's structural overview, and key term definitions for clarity [Important Notes](index=2&type=section&id=Important%20Notes) The company's board and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's board and senior management guarantee the semi-annual report's truthfulness, accuracy, completeness, and assume legal responsibility[5](index=5&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[6](index=6&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the report's overall structure, covering company profile, financial indicators, MD&A, governance, and financial reports [List of Reference Documents](index=4&type=section&id=List%20of%20Reference%20Documents) Reference documents include signed financial statements and originals of all publicly disclosed company documents from the reporting period - Reference documents include financial statements signed and sealed by the company's legal representative, chief accountant, and head of the accounting department[10](index=10&type=chunk) - Originals of all publicly disclosed company documents and announcements during the reporting period are also included as reference documents[11](index=11&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines common terms used in the report, ensuring accurate understanding of its content - "Company", "the Company", and "Creator Information" all refer to Hunan Creator Information Technology Co, Ltd[13](index=13&type=chunk) - Multiple subsidiary names and their abbreviations, such as Creator Integration and Jiangxi Chain Creator, are listed[13](index=13&type=chunk) - "Reporting Period" is defined as **January 1, 2025, to June 30, 2025**[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=6&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company and its key financial performance metrics for the reporting period [Company Profile](index=6&type=section&id=Company%20Profile) Hunan Creator Information Technology Co, Ltd (stock code: 300730) is listed on the Shenzhen Stock Exchange, with Fei Yaoping as its legal representative - Company stock abbreviation: Creator Information, stock code: **300730**[15](index=15&type=chunk) - The company is listed on the Shenzhen Stock Exchange, and its legal representative is Fei Yaoping[15](index=15&type=chunk) [Contact Persons and Information](index=6&type=section&id=Contact%20Persons%20and%20Information) The company's Board Secretary is Zhang Yuanmei, and Securities Affairs Representative is Zhang Yuhong, both located in Changsha - The Board Secretary is Zhang Yuanmei, and the Securities Affairs Representative is Zhang Yuhong[16](index=16&type=chunk) - Contact address: No. 678 Qingshan Road, Yuelu District, Changsha City, phone: **0731-82068690**, email: creator@chinacreator.com[16](index=16&type=chunk) [Other Information](index=6&type=section&id=Other%20Information) No changes occurred in the company's contact or disclosure information, but its registration status changed during the period - The company's registered address, office address, website, and email remained unchanged during the reporting period[17](index=17&type=chunk) - Information disclosure and document storage locations remained unchanged during the reporting period[18](index=18&type=chunk) - The company's registration status changed during the reporting period, with the period-end registration date being **June 17, 2025**, in Changsha, Hunan Province[20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) Operating revenue decreased by 53.01%, net loss attributable to shareholders expanded by 27.51%, and total assets declined Key Accounting Data and Financial Indicators (Consolidated Statements) | Indicator | Current Period (Yuan) | Prior Period (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 54,064,509.07 | 115,067,083.14 | -53.01% | | Net Profit Attributable to Shareholders | -51,049,945.23 | -40,036,304.83 | -27.51% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | -51,034,463.38 | -40,380,915.72 | -26.38% | | Net Cash Flow from Operating Activities | -100,603,088.24 | -125,208,643.79 | 19.65% | | Basic EPS (Yuan/Share) | -0.21 | -0.17 | -23.53% | | Diluted EPS (Yuan/Share) | -0.21 | -0.17 | -23.53% | | Weighted Average ROE | -17.97% | -11.46% | -6.51% | | Indicator | Period-End (Yuan) | Prior Year-End (Yuan) | Period-End vs Prior Year-End Change | | :--- | :--- | :--- | :--- | | Total Assets | 767,474,023.74 | 799,084,503.11 | -3.96% | | Net Assets Attributable to Shareholders | 258,461,820.44 | 309,511,765.67 | -16.49% | [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&type=section&id=Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company reported no differences in net profit and net assets between financial reports prepared under various accounting standards - The company reported no differences in net profit and net assets between IFRS and Chinese accounting standards during the reporting period[22](index=22&type=chunk) - The company reported no differences in net profit and net assets between overseas accounting standards and Chinese accounting standards during the reporting period[23](index=23&type=chunk) [Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) Total non-recurring losses were -15,481.85 yuan, while certain recurring items were reclassified due to their operational nature Non-Recurring Gains and Losses and Amounts | Item | Amount (Yuan) | Description | | :--- | :--- | :--- | | Disposal Gains/Losses of Non-Current Assets | -38,268.00 | | | Government Grants Recognized in Current P&L (Excluding Recurring) | 46.37 | | | Other Non-Operating Income and Expenses (Excluding Above) | 22,739.78 | | | **Total** | **-15,481.85** | | Items Classified as Recurring Gains and Losses | Item | Amount Involved (Yuan) | Reason | | :--- | :--- | :--- | | Software VAT Refund | 1,554,031.89 | Closely related to normal operations and continuous | | Portion of Asset-Related Government Grants Recognized in Current Period | 686,439.86 | Closely related to normal operations and continuous | | Individual Income Tax Handling Fee Refund | 74,467.34 | Closely related to normal operations and continuous | | VAT Deduction for Employing Registered Impoverished Individuals | 17,732.00 | Closely related to normal operations and continuous | | Small Amount of Tax Exemption | 0.24 | Closely related to normal operations and continuous | | **Total** | **2,332,671.33** | | [Section III Management Discussion and Analysis](index=9&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section analyzes the company's operations, financial condition, and future outlook, including risks and opportunities [Principal Businesses During the Reporting Period](index=9&type=section&id=Principal%20Businesses%20During%20the%20Reporting%20Period) The company focuses on digital government and smart enterprise digitalization, with AI and data elements as core strategic drivers - The company focuses on digital government and smart enterprise digitalization, with artificial intelligence and data elements as core strategic drivers for transformation[27](index=27&type=chunk) - In "AI+", the company hosted an innovation competition to accelerate the development of industry-specific intelligent agents and applications, deeply integrating large models and AI technologies with its main business[27](index=27&type=chunk) - In "Data Elements×", the company researches data element policies, technologies, and model innovations, building industry-trusted data space solutions and exploring data element operations[27](index=27&type=chunk) [Building Government Large Models, Deepening "AI+" Digital Government Scenario Applications](index=9&type=section&id=Building%20Government%20Large%20Models%2C%20Deepening%20%22AI%2B%22%20Digital%20Government%20Scenario%20Applications) The company developed Creator Government Large Models, exploring intelligent applications in various government sectors across over 20 provinces - The company developed Creator Government Large Models, providing intelligent application products and services, exploring applications in government services, social governance, medical insurance, and provident funds[28](index=28&type=chunk) - The "Government Vertical Large Model Development and Application Project Based on Large Language Models and Knowledge Graph Fusion" was selected for the "Hunan Province 'Digital New Infrastructure' 100 Landmark Projects List (2025)"[32](index=32&type=chunk) - The "Hunan Province One-Stop Online Service Platform Based on Government Large Models" was shortlisted for the 2024 Hunan Province Top Ten Digitalization Excellent Cases[32](index=32&type=chunk) [Focusing on Multiple Aspects of Enterprise Operations and Production, Continuously Expanding Core Clients in Advantageous Fields](index=11&type=section&id=Focusing%20on%20Multiple%20Aspects%20of%20Enterprise%20Operations%20and%20Production%2C%20Continuously%20Expanding%20Core%20Clients%20in%20Advantageous%20Fields) The company's smart enterprise business leverages AI, big data, and IoT to enhance management and production efficiency for large enterprises - The company's smart enterprise business aims to enhance management capabilities and accelerate production efficiency for large enterprises using artificial intelligence, big data, and IoT digital technologies[38](index=38&type=chunk) - In advanced manufacturing, the glass defect detection business, based on machine vision technology, maintains a leading position, with products successfully exported to Europe for the first time[38](index=38&type=chunk) - In financial technology, the company launched an integrated intelligent assistant solution and products based on large models, assisting financial institutions with efficient operations and services[39](index=39&type=chunk) [Analysis of Core Competencies](index=12&type=section&id=Analysis%20of%20Core%20Competencies) The company's core competencies include continuous innovation, an agile business model, deep industry experience, and a high-caliber talent team - The company owns **836 software copyrights**, **27 national invention patents**, 12 utility model patents, and 1 design patent[41](index=41&type=chunk) - The company was selected as one of the "2025 Top 100 Brand Software Enterprises in Central China's Hubei, Hunan, and Henan Provinces," and received multiple provincial landmark projects and excellent cases[41](index=41&type=chunk) - The company achieved CMMI-DEV 3.0 Level 5 certification and holds CCRC information security service qualifications (Software Security Development Level 1, Information System Security Operations Level 1, Information System Security Integration Level 1)[45](index=45&type=chunk) [Analysis of Main Business](index=13&type=section&id=Analysis%20of%20Main%20Business) Operating revenue decreased by 53.01% due to fewer project acceptances, while operating costs also declined significantly Year-on-Year Changes in Key Financial Data | Indicator | Current Period (Yuan) | Prior Period (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 54,064,509.07 | 115,067,083.14 | -53.01% | Mainly due to reduced revenue recognition from project acceptances in the current period | | Operating Cost | 40,238,415.16 | 93,221,053.60 | -56.84% | Mainly due to reduced cost recognition from project acceptances in the current period | | Income Tax Expense | -1,564,404.95 | 1,148,935.56 | -236.16% | Mainly due to increased deferred income tax in the current period | | R&D Investment | 17,677,767.77 | 25,935,209.85 | -31.84% | Mainly due to a reduction in R&D personnel in the current period | | Credit Impairment Loss | -12,669,534.48 | 937,448.49 | -1,451.49% | Mainly due to increased bad debt losses in the current period | | Asset Impairment Loss | -69,268.18 | 4,995,702.71 | -101.39% | Mainly due to increased contract asset impairment losses in the current period | Product or Service 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 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Digital Government | 33,375,978.69 | 24,564,438.48 | 26.40% | -42.95% | -49.34% | 9.28% | | Smart Enterprise | 20,441,815.90 | 15,561,828.27 | 23.87% | -63.56% | -65.12% | 3.41% | - Direct materials, direct labor, and indirect costs in main business costs all changed by over **30%** year-on-year, mainly due to reduced project acceptance revenue[55](index=55&type=chunk) [Analysis of Non-Principal Business](index=15&type=section&id=Analysis%20of%20Non-Principal%20Business) The company had no non-principal business during the reporting period - The company had no non-principal business during the reporting period[56](index=56&type=chunk) [Analysis of Assets and Liabilities](index=15&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) Total assets and net assets attributable to shareholders decreased, with significant changes in monetary funds, inventory, and borrowings Significant Changes in Asset Composition | Item | Period-End Amount (Yuan) | Proportion of Total Assets | Prior Year-End Amount (Yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 43,058,423.32 | 5.61% | 100,672,908.46 | 12.60% | -6.99% | Mainly due to negative net cash flow from operating activities in the current period | | Inventory | 341,100,325.18 | 44.44% | 292,662,215.75 | 36.62% | 7.82% | No significant change | | Right-of-Use Assets | | | 332,099.70 | 0.04% | -0.04% | Mainly due to a decrease in right-of-use assets in the current period | | Short-Term Borrowings | 218,497,661.90 | 28.47% | 173,029,600.00 | 21.65% | 6.82% | No significant change | | Contract Liabilities | 166,232,443.09 | 21.66% | 138,445,193.85 | 17.33% | 4.33% | No significant change | | Notes Receivable | 4,513,834.43 | 0.59% | 12,022,393.00 | 1.50% | -0.91% | Mainly due to a decrease in low-credit-rated notes held in the current period | | Financing Receivables | 628,979.37 | 0.08% | 1,213,548.88 | 0.15% | -0.07% | Mainly due to a decrease in high-credit-rated notes held in the current period | | Prepayments | 8,910,069.15 | 1.16% | 5,689,727.98 | 0.71% | 0.45% | Mainly due to increased prepayments for project procurement in the current period | | Other Receivables | 12,097,499.56 | 1.58% | 7,907,483.87 | 0.99% | 0.59% | Mainly due to increased payments for intercompany balances and deposits in the current period | | Notes Payable | 29,789,240.37 | 3.88% | 56,875,940.66 | 7.12% | -3.24% | Mainly due to reduced use of notes for settlement of goods in the current period | | Employee Compensation Payable | 10,433,363.48 | 1.36% | 20,961,256.45 | 2.62% | -1.26% | Mainly due to payment of prior year-end bonuses and a reduction in personnel in the current period | | Taxes Payable | 6,295,064.53 | 0.82% | 10,404,124.33 | 1.30% | -0.48% | Mainly due to payment of prior year's taxes in the current period | | Retained Earnings (Accumulated Losses) | -57,873,957.17 | -7.54% | -6,824,011.94 | -0.85% | -6.69% | Mainly due to negative net profit in the current period | - Restricted fixed assets had a book value of **51,885,411.17 yuan** at period-end, used as collateral for bank borrowings[62](index=62&type=chunk) - Restricted other monetary funds had a book value of **7,825,373.74 yuan** at period-end, used for bank acceptance bill deposits and letter of guarantee deposits[62](index=62&type=chunk) [Analysis of Investment Status](index=17&type=section&id=Analysis%20of%20Investment%20Status) The company had no significant equity or non-equity investments, fair value financial assets, or entrusted financial activities during the reporting period - The company had no use of raised funds during the reporting period[63](index=63&type=chunk) - The company had no 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) [Significant Asset and Equity Disposals](index=17&type=section&id=Significant%20Asset%20and%20Equity%20Disposals) The company did not undertake any significant asset or equity disposals during the reporting period - The company did not dispose of any significant assets during the reporting period[67](index=67&type=chunk) - The company did not dispose of any significant equity during the reporting period[68](index=68&type=chunk) [Analysis of Major Holding and Participating Companies](index=18&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The company had no important holding or participating company information requiring disclosure during the reporting period - The company had no important holding or participating company information requiring disclosure during the reporting period[68](index=68&type=chunk) [Structured Entities Controlled by the Company](index=18&type=section&id=Structured%20Entities%20Controlled%20by%20the%20Company) The company had no structured entities under its control during the reporting period - The company had no structured entities under its control during the reporting period[69](index=69&type=chunk) [Risks Faced by the Company and Countermeasures](index=18&type=section&id=Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from policy changes, market competition, talent shortages, and financial exposures, actively implementing countermeasures - The company faces risks from industry policy changes due to reduced investment in digital government, and intensified market competition in smart city and intelligent manufacturing sectors[69](index=69&type=chunk)[70](index=70&type=chunk) - The company experiences risks of high-end professional talent shortage and revenue regional concentration, with most operating revenue concentrated in Hunan[71](index=71&type=chunk)[72](index=72&type=chunk) - The company also faces technological innovation risks from rapid software and information technology service industry updates, and financial risks from high accounts receivable and large inventory[73](index=73&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk) [Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=19&type=section&id=Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) On May 8, 2025, the company held its 2024 annual online performance briefing, engaging with online investors - On **May 8, 2025**, the company held its 2024 annual online performance briefing via the Value Online platform, engaging with online investors[77](index=77&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=19&type=section&id=Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) 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[78](index=78&type=chunk) - The company has not disclosed a valuation enhancement plan[78](index=78&type=chunk) ["Dual Improvement in Quality and Returns" Action Plan Implementation](index=19&type=section&id=%E2%80%9CDual%20Improvement%20in%20Quality%20and%20Returns%E2%80%9D%20Action%20Plan%20Implementation) The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan - The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan[78](index=78&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=20&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section covers changes in governance, profit distribution, employee incentives, environmental disclosures, and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=20&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Several supervisors, including the Chairman, resigned due to term expiration and job reassignments during the reporting period - Supervisor Board Chairman Xie Shiwei and Supervisors Liu Xingsha, Wu Xu, Zhong Lian, and Wu Xianwei resigned due to term expiration[80](index=80&type=chunk) - The reason for their resignation was job reassignment[80](index=80&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=20&type=section&id=Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[81](index=81&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=20&type=section&id=Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[82](index=82&type=chunk) [Environmental Information Disclosure](index=20&type=section&id=Environmental%20Information%20Disclosure) Neither the listed company nor its major subsidiaries are required to disclose environmental information by law - Neither the listed company nor its major subsidiaries are included in the list of enterprises required to disclose environmental information by law[83](index=83&type=chunk) [Social Responsibility](index=20&type=section&id=Social%20Responsibility) The company maintains robust investor protection, adheres to information disclosure, and prioritizes employee welfare and safety - The company established a sound investor protection mechanism, clarifying investor rights and setting up an audit committee, independent directors, and board secretary[83](index=83&type=chunk) - The company strictly convenes shareholder meetings in accordance with laws and regulations, diligently fulfills information disclosure obligations, and communicates with investors through various channels[83](index=83&type=chunk) - The company adheres to "people-oriented" core values, strictly complies with labor laws and regulations, providing a healthy, safe, and comfortable working environment, and safeguarding employees' legitimate rights and interests[83](index=83&type=chunk)[84](index=84&type=chunk) [Section V Significant Matters](index=22&type=section&id=Section%20V%20Significant%20Matters) This section details important events, transactions, and legal proceedings affecting the company during the reporting period [Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=22&type=section&id=Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) No commitments by the company's controlling shareholder, shareholders, related parties, acquirers, or the company were either fulfilled or overdue and unfulfilled during the reporting period - No commitments by the company's controlling shareholder, shareholders, related parties, acquirers, or the company were either fulfilled or overdue and unfulfilled during the reporting period[86](index=86&type=chunk) [Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company](index=22&type=section&id=Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) No non-operating funds were occupied by the controlling shareholder or other related parties from the listed company during the reporting period - No non-operating funds were occupied by the controlling shareholder or other related parties from the listed company during the reporting period[87](index=87&type=chunk) [Illegal External Guarantees](index=22&type=section&id=Illegal%20External%20Guarantees) The company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[88](index=88&type=chunk) [Appointment and Dismissal of Accounting Firms](index=22&type=section&id=Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual report was not audited - The company's semi-annual report was not audited[89](index=89&type=chunk) [Board of Directors' and Audit Committee's Explanation on "Non-Standard Audit Report" for the Current Period](index=22&type=section&id=Board%20of%20Directors'%20and%20Audit%20Committee's%20Explanation%20on%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Current%20Period) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[90](index=90&type=chunk) [Board of Directors' Explanation on "Non-Standard Audit Report" for the Prior Year](index=22&type=section&id=Board%20of%20Directors'%20Explanation%20on%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Prior%20Year) The company had no non-standard audit report for the prior year during the reporting period - The company had no non-standard audit report for the prior year during the reporting period[90](index=90&type=chunk) [Bankruptcy and Reorganization Related Matters](index=22&type=section&id=Bankruptcy%20and%20Reorganization%20Related%20Matters) The company did not experience any bankruptcy and reorganization related matters during the reporting period - The company did not experience any bankruptcy and reorganization related matters during the reporting period[90](index=90&type=chunk) [Litigation Matters](index=22&type=section&id=Litigation%20Matters) The company had no significant litigation during the reporting period, with other cases closed and under enforcement - The company had no significant litigation or arbitration matters during the reporting period[91](index=91&type=chunk) Other Litigation Matters | Basic Information of Litigation (Arbitration) | Amount Involved (10,000 Yuan) | Whether Provision for Liabilities Formed | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | Litigation (Arbitration) Judgment Enforcement Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Other Litigation Matters where the Company is Plaintiff | 285.06 | No | Closed | Closed | Partial fulfillment, partial enforcement ongoing | | Other Litigation Matters where the Company is Defendant | 34.41 | No | Closed | Closed | Under enforcement | [Penalties and Rectification](index=23&type=section&id=Penalties%20and%20Rectification) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[93](index=93&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=23&type=section&id=Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) No issues regarding the integrity status of the company, its controlling shareholder, or actual controller were reported during the period - No issues regarding the integrity status of the company, its controlling shareholder, or actual controller were reported during the period[94](index=94&type=chunk) [Significant Related Party Transactions](index=23&type=section&id=Significant%20Related%20Party%20Transactions) The company engaged in IT service sales with a major shareholder and received significant interest-free guarantees from key management Related Party Transactions Related to Daily Operations | Related Party | Relationship | Transaction Type | Transaction Content | Transaction Amount (10,000 Yuan) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | :--- | :--- | | Hunan Data Industry Group Co, Ltd | Legal entity holding over 5% of company shares | Sales of Goods, Provision of Services | Information Technology Services | 617.79 | 100.00% | | Fei Yaoping | Legal Representative, Director | Guarantee | Provided guarantee for the company | 40,550 | 100.00% | | **Total** | | | | **41,167.79** | | - Chairman Fei Yaoping, Director, General Manager, and CFO Li Jie, Director and Deputy General Manager Li Jianhua, and major shareholder Liu Xingsha provided interest-free guarantees for the company's bank credit lines[100](index=100&type=chunk) - Fei Yaoping, Li Jie, Li Jianhua, and Liu Xingsha pledged **6.5 million shares**, **6.5 million shares**, **6.5 million shares**, and **4.5 million shares** respectively, for a one-year guarantee period[100](index=100&type=chunk) [Significant Contracts and Their Performance](index=25&type=section&id=Significant%20Contracts%20and%20Their%20Performance) The company had no entrustment, contracting, or leasing matters, but provided a fulfilled guarantee to its subsidiary Creator Integration - The company had no entrustment, contracting, or leasing situations during the reporting period[102](index=102&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk) Company's Guarantees to Subsidiaries | Guaranteed Party Name | Guarantee Limit (10,000 Yuan) | Actual Occurrence Date | Actual Guarantee Amount (10,000 Yuan) | Guarantee Type | Whether Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Creator Integration | 6,000 | 2023年08月16日 | 1,000 | Joint and Several Liability Guarantee | Yes | - The company had no other significant contracts during the reporting period[107](index=107&type=chunk) [Explanation of Other Significant Matters](index=26&type=section&id=Explanation%20of%20Other%20Significant%20Matters) The company reported suspected illegal activities by a client, leading to a police investigation to minimize losses - The company discovered suspected illegal and criminal activities while collecting payments from client Dayou Digital Technology (Beijing) Co, Ltd[108](index=108&type=chunk) - On **April 19, 2024**, the company reported the matter to the Changsha Public Security Bureau High-tech Zone Branch Economic Crime Investigation Detachment[108](index=108&type=chunk) - On **July 9, 2024**, the company received a "Case Acceptance Decision," and the case is currently under investigation[108](index=108&type=chunk) [Significant Matters of Company Subsidiaries](index=26&type=section&id=Significant%20Matters%20of%20Company%20Subsidiaries) The company had no significant matters concerning its subsidiaries during the reporting period - The company had no significant matters concerning its subsidiaries during the reporting period[109](index=109&type=chunk) [Section VI Share Changes and Shareholder Information](index=27&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in share capital, restricted shares, and the shareholding structure of major shareholders [Share Change Status](index=27&type=section&id=Share%20Change%20Status) Total share capital remained unchanged, but restricted shares increased due to supervisors' resignations, leading to a corresponding decrease in unrestricted shares Share Change Status | Share Type | Quantity Before Change (Shares) | Proportion Before Change | Change (Increase/Decrease) Subtotal (Shares) | Quantity After Change (Shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 44,460,795 | 18.44% | 3,359,073 | 47,819,868 | 19.83% | | II. Unrestricted Shares | 196,678,152 | 81.56% | -3,359,073 | 193,319,079 | 80.17% | | III. Total Shares | 241,138,947 | 100.00% | 0 | 241,138,947 | 100.00% | - Supervisors Xie Shiwei, Liu Xingsha, and Wu Xu's shares became **100% locked** after their terms expired and they resigned, leading to an increase of **3,359,073 restricted shares** for senior executives[113](index=113&type=chunk) - The above share changes were approved by the Board of Directors, Supervisory Board, and Annual General Meeting[114](index=114&type=chunk) [Changes in Restricted Shares](index=28&type=section&id=Changes%20in%20Restricted%20Shares) At period-end, total restricted shares were 47,819,868, primarily senior executive restricted shares, with increases for specific individuals due to resignations Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Increased During Period | Restricted Shares at End of Period | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | Fei Yaoping | 11,911,392 | 0 | 11,911,392 | Senior Executive Restricted Shares | | Li Jie | 11,656,885 | 0 | 11,656,885 | Senior Executive Restricted Shares | | Li Jianhua | 10,416,375 | 0 | 10,416,375 | Senior Executive Restricted Shares | | Liu Xingsha | 9,841,924 | 3,280,642 | 13,122,566 | Senior Executive Restricted Shares | | Xie Shiwei | 212,794 | 70,931 | 283,725 | Senior Executive Restricted Shares | | Tan Liqiu | 205,875 | 0 | 205,875 | Senior Executive Restricted Shares | | Li Dianbin | 71,100 | 0 | 71,100 | Senior Executive Restricted Shares | | Su Lihong | 63,000 | 0 | 63,000 | Senior Executive Restricted Shares | | Xiao Guorong | 58,950 | 0 | 58,950 | Senior Executive Restricted Shares | | Wu Xu | 22,500 | 7,500 | 30,000 | Senior Executive Restricted Shares | | **Total** | **44,460,795** | **3,359,073** | **47,819,868** | | [Securities Issuance and Listing](index=29&type=section&id=Securities%20Issuance%20and%20Listing) The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing activities during the reporting period[116](index=116&type=chunk) [Number of Shareholders and Shareholding Status](index=29&type=section&id=Number%20of%20Shareholders%20and%20Shareholding%20Status) At period-end, the company had 36,454 common shareholders, with Hunan Data Industry Group as the largest, and several major shareholders having pledged shares - The total number of common shareholders was **36,454** at period-end[117](index=117&type=chunk) Shareholding Status of Shareholders Holding Over 5% or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Shares Held at Period-End (Shares) | Restricted Shares Held (Shares) | Unrestricted Shares Held (Shares) | Pledged, Marked, or Frozen Status (Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hunan Data Industry Group Co, Ltd | State-owned Legal Entity | 13.33% | 32,154,636 | 0 | 32,154,636 | 0 | | Fei Yaoping | Domestic Natural Person | 6.59% | 15,881,856 | 11,911,392 | 3,970,464 | 6,500,000 (Pledged) | | Li Jie | Domestic Natural Person | 6.45% | 15,542,514 | 11,656,885 | 3,885,629 | 6,500,000 (Pledged) | | Li Jianhua | Domestic Natural Person | 5.76% | 13,888,500 | 10,416,375 | 3,472,125 | 6,500,000 (Pledged) | | Liu Xingsha | Domestic Natural Person | 5.44% | 13,122,566 | 13,122,566 | 0 | 4,500,000 (Pledged) | - The company is unaware of any associated relationships or concerted actions among the aforementioned shareholders[117](index=117&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=30&type=section&id=Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the shareholdings of the company's directors, supervisors, and 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[119](index=119&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=30&type=section&id=Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) There were no changes 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[120](index=120&type=chunk) - The company's actual controller did not change during the reporting period[120](index=120&type=chunk) [Preferred Share Related Matters](index=30&type=section&id=Preferred%20Share%20Related%20Matters) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[121](index=121&type=chunk) [Section VII Bond Related Matters](index=31&type=section&id=Section%20VII%20Bond%20Related%20Matters) This section confirms the absence of any bond-related activities or issues for the company during the reporting period [Bond Related Matters](index=31&type=section&id=Bond%20Related%20Matters) The company had no bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[123](index=123&type=chunk) [Section VIII Financial Report](index=32&type=section&id=Section%20VIII%20Financial%20Report) This section presents the company's unaudited financial statements, including balance sheets, income statements, and cash flow statements [Audit Report](index=32&type=section&id=Audit%20Report) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[125](index=125&type=chunk) [Financial Statements](index=32&type=section&id=Financial%20Statements) This section provides the company's 2025 semi-annual consolidated and parent company financial statements, detailing financial position, operating results, and cash flow changes [Consolidated Balance Sheet](index=32&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, total consolidated assets were **767 million yuan**, a 3.96% decrease, with shifts in current and non-current assets and liabilities - Period-end monetary funds were **43,058,423.32 yuan**, a significant decrease from **100,672,908.46 yuan** at the beginning of the period[127](index=127&type=chunk) - Period-end inventory was **341,100,325.18 yuan**, an increase from **292,662,215.75 yuan** at the beginning of the period[127](index=127&type=chunk) - Period-end short-term borrowings were **218,497,661.90 yuan**, an increase from **173,029,600.00 yuan** at the beginning of the period[128](index=128&type=chunk) [Parent Company Balance Sheet](index=34&type=section&id=Parent%20Company%20Balance%20Sheet) As of June 30, 2025, the parent company's total assets were **768 million yuan**, with similar trends in key accounts as the consolidated statements - Parent company period-end monetary funds were **35,261,952.08 yuan**, a significant decrease from **92,227,843.13 yuan** at the beginning of the period[132](index=132&type=chunk) - Parent company period-end inventory was **319,952,645.76 yuan**, an increase from **278,601,665.94 yuan** at the beginning of the period[132](index=132&type=chunk) - Parent company period-end short-term borrowings were **212,497,661.90 yuan**, an increase from **169,640,000.00 yuan** at the beginning of the period[133](index=133&type=chunk) [Consolidated Income Statement](index=37&type=section&id=Consolidated%20Income%20Statement) For H1 2025, total operating revenue decreased by 53.01%, with net profit attributable to parent company shareholders showing an expanded loss - Total operating revenue for H1 2025 was **54,064,509.07 yuan**, a **53.01% decrease** from **115,067,083.14 yuan** in H1 2024[134](index=134&type=chunk) - Net profit attributable to parent company shareholders was **-51,049,945.23 yuan**, an expanded loss compared to **-40,036,304.83 yuan** in the prior year[135](index=135&type=chunk) - Basic and diluted EPS were both **-0.21 yuan**, an expanded loss compared to **-0.17 yuan** in the prior year[135](index=135&type=chunk) [Parent Company Income Statement](index=39&type=section&id=Parent%20Company%20Income%20Statement) For H1 2025, parent company operating revenue decreased by 52.34%, with net profit showing an expanded loss and significant credit impairment - Parent company operating revenue for H1 2025 was **44,675,366.49 yuan**, a decrease from **93,738,742.33 yuan** in H1 2024[136](index=136&type=chunk) - Parent company net profit was **-44,717,000.04 yuan**, an expanded loss compared to **-33,985,633.20 yuan** in the prior year[136](index=136&type=chunk) - Credit impairment loss was **-11,528,408.57 yuan**, a significant deterioration from **231,140.30 yuan** in the prior year[136](index=136&type=chunk) [Consolidated Cash Flow Statement](index=40&type=section&id=Consolidated%20Cash%20Flow%20Statement) Net cash flow from operating activities improved to -101 million yuan, while investing activities significantly improved, and financing activities slightly increased - Net cash flow from operating activities was **-100,603,088.24 yuan**, an improvement from **-125,208,643.79 yuan** in the prior year[139](index=139&type=chunk) - Net cash flow from investing activities was **-350,371.72 yuan**, a significant improvement from **-4,267,885.67 yuan** in the prior year[139](index=139&type=chunk) - Net cash flow from financing activities was **41,994,011.11 yuan**, a slight increase from **39,859,575.35 yuan** in the prior year[139](index=139&type=chunk) [Parent Company Cash Flow Statement](index=41&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) Parent company operating cash flow improved to -95.75 million yuan, investing cash flow turned positive, and financing cash flow decreased - Parent company net cash flow from operating activities was **-95,747,584.43 yuan**, an improvement from **-129,530,328.16 yuan** in the prior year[141](index=141&type=chunk) - Parent company net cash flow from investing activities was **2,804,924.96 yuan**, turning positive from **-14,497,240.67 yuan** in the prior year[141](index=141&type=chunk) - Parent company net cash flow from financing activities was **34,631,804.71 yuan**, a decrease from **50,045,437.29 yuan** in the prior year[141](index=141&type=chunk) [Consolidated Statement of Changes in Owners' Equity](index=42&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Owners'%20Equity) Total owners' equity attributable to the parent company decreased by 16.49% due to negative net profit, significantly reducing retained earnings - Period-end total owners' equity attributable to the parent company was **258,461,820.44 yuan**, a decrease from **309,511,765.67 yuan** at the beginning of the period[145](index=145&type=chunk) - Retained earnings changed from **-6,824,011.94 yuan** at the beginning of the period to **-57,873,957.17 yuan** at period-end, indicating a significant expansion of losses[145](index=145&type=chunk) - Minority interests increased from **8,003,177.95 yuan** at the beginning of the period to **8,638,411.36 yuan**[145](index=145&type=chunk) [Parent Company Statement of Changes in Owners' Equity](index=45&type=section&id=Parent%20Company%20Statement%20of%20Changes%20in%20Owners'%20Equity) The parent company's total owners' equity decreased, with retained earnings showing a significant expansion of losses - Period-end parent company total owners' equity was **256,858,730.63 yuan**, a decrease from **301,575,730.67 yuan** at the beginning of the period[151](index=151&type=chunk) - Retained earnings changed from **-15,868,931.44 yuan** at the beginning of the period to **-60,585,931.48 yuan** at period-end, indicating a significant expansion of losses[151](index=151&type=chunk) [Company Basic Information](index=48&type=section&id=Company%20Basic%20Information) The company, a joint-stock entity in the software and IT services industry, has no parent or actual controller, with its financial report approved on August 27, 2025 - The company's registered and headquarters address: No. 678 Qingshan Road, Yuelu District, Changsha City, organizational form: Joint-stock company (listed, invested or controlled by natural persons)[154](index=154&type=chunk) - The company's main business is product development and services in digital government and smart enterprise, belonging to the software and information technology service industry[154](index=154&type=chunk) - The company has no parent company or actual controller, and the financial report was approved for issuance by the Board of Directors on **August 27, 2025**[154](index=154&type=chunk) [Basis of Financial Statement Preparation](index=49&type=section&id=Basis%20of%20Financial%20Statement%20Preparation) These financial statements are prepared on a going concern basis, adhering to enterprise accounting standards, with no significant doubts about the company's ability to continue operations - These financial statements are prepared on a going concern basis, in accordance with relevant provisions of enterprise accounting standards[155](index=155&type=chunk) - The company possesses the ability to continue as a going concern for **12 months** from the end of the reporting period, with no significant doubts about its going concern ability[156](index=156&type=chunk) [Significant Accounting Policies and Estimates](index=49&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's accounting policies and estimates for key financial items, adhering to enterprise accounting standards and using RMB as its functional currency - The company has specific accounting policies and estimates for impairment provisions for accounts receivable and contract assets, fixed asset depreciation, intangible asset amortization, and revenue recognition[157](index=157&type=chunk) - The company uses RMB as its functional currency, with a normal operating cycle of **12 months**[160](index=160&type=chunk)[161](index=161&type=chunk) - The company identifies accounts receivable with individual impairment provisions exceeding **0.5%** (inclusive) of total assets as significant[162](index=162&type=chunk) [Taxation](index=69&type=section&id=Taxation) The company's main taxes include VAT and enterprise income tax, benefiting from various preferential tax policies for software and high-tech enterprises Major Taxes and Tax Rates | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | VAT | Value-added from sales of goods or provision of services | 13%, 9%, 6% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7% | | Enterprise Income Tax | Taxable income | 25%, 20%, 15% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - Sales of self-developed software products are subject to **13%** statutory VAT, with the portion exceeding **3%** immediately refunded[276](index=276&type=chunk) - Technology development services approved by tax authorities are exempt from VAT, and R&D expenses enjoy a **100%** pre-tax super deduction policy[277](index=277&type=chunk) - The company obtained its high-tech enterprise certificate on **October 16, 2023**, making it eligible for a **15%** preferential enterprise income tax rate for 2025[278](index=278&type=chunk) [Notes to Consolidated Financial Statement Items](index=70&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed explanations for various asset, liability, equity, income, cost, and expense items in the consolidated financial statements - Period-end monetary funds were **43,058,423.32 yuan**, of which **7,825,373.74 yuan** were restricted funds for bank acceptance bill deposits and letter of guarantee deposits[280](index=280&type=chunk) - Period-end accounts receivable book balance was **251 million yuan**, with impairment provisions of **87.36 million yuan**, a book value of **164 million yuan**, and an impairment provision ratio of **34.75%**[290](index=290&type=chunk) - Period-end short-term borrowings were **218 million yuan**, primarily including pledged borrowings, guaranteed borrowings, credit borrowings, and mortgage-guaranteed borrowings, with multiple borrowings guaranteed by company executives[384](index=384&type=chunk) [R&D Expenses](index=102&type=section&id=R%26D%20Expenses) Total R&D expenses for H1 2025 decreased by 31.84% to 17.68 million yuan, primarily due to reduced employee compensation R&D Expense Details | Item | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Employee Compensation | 17,386,800.97 | 25,748,806.39 | | Depreciation and Amortization | 283,419.63 | 186,403.46 | | Other | 7,547.17 | | | **Total** | **17,677,767.77** | **25,935,209.85** | | Of which: Expensed R&D | 17,677,767.77 | 25,935,209.85 | - Current period R&D expenses decreased by **31.84%** year-on-year, mainly due to a reduction in R&D personnel[50](index=50&type=chunk) [Changes in Consolidation Scope](index=103&type=section&id=Changes%20in%20Consolidation%20Scope) The company reported no changes in its consolidation scope during the reporting period - The company reported no changes in consolidation scope due to non-same control business combinations, same control business combinations, reverse acquisitions, disposal of subsidiaries, or other reasons during the reporting period[492](index=492&type=chunk)[493](index=493&type=chunk) [Interests in Other Entities](index=103&type=section&id=Interests%20in%20Other%20Entities) The company controls multiple subsidiaries and holds interests in associates, including Hunan Shutu Creator Information Technology Co, Ltd, which it effectively controls despite a 49% shareholding Composition of Enterprise Group (Partial) | Subsidiary Name | Registered Capital (Yuan) | Business Nature | Shareholding Proportion (Direct) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | | Hunan Creator Information System Integration Co, Ltd | 20,000,000.00 | IT | 100.00% | Investment Establishment | | Beijing Creator Xinyuan Information Technology Co, Ltd | 5,000,000.00 | IT | 88.00% | Investment Establishment | | Hunan Shutu Creator Information Technology Co, Ltd | 20,000,000.00 | IT | 49.00% | Investment Establishment | - The company holds **49%** of Hunan Shutu Creator Information Technology Co, Ltd, but actually controls it by appointing two directors and holding **two-thirds** of the board's voting rights[494](index=494&type=chunk) Important Joint Ventures or Associates | Joint Venture or Associate Name | Business Nature | Shareholding Proportion (Direct) | Accounting Method | | :--- | :--- | :--- | :--- | | Hunan Huazi Zhuochuang Intelligent Technology Co, Ltd | Software and Information Technology Services | 19.00% | Equity Method | | Xiangtan Digital Economy Industry Co, Ltd | Internet and Related Services | 9.00% | Equity Method | [Government Grants](index=105&type=section&id=Government%20Grants) The company had no government grants recognized at receivable amounts, with deferred income of 2,823,090.82 yuan related to assets - The company had no government grants recognized at receivable amounts at period-end[503](index=503&type=chunk) Liability Items Related to Government Grants | Account Title | Beginning Balance (Yuan) | Amount Transferred to Other Income in Current Period (Yuan) | Ending Balance (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 3,509,530.68 | 686,439.86 | 2,823,090.82 | Asset-related | - Government grants recognized in current period profit or loss (other income) amounted to **1,571,810.26 yuan**[506](index=506&type=chunk) [Risks Related to Financial Instruments](index=106&type=section&id=Risks%20Related%20to%20Financial%20Instruments) The company's financial instruments expose it to credit, liquidity, and market risks, which are managed through various strategies - The company's financial instruments are primarily for operational financing, with main risks being credit risk, liquidity risk, and market risk[507](index=507&type=chunk) - Credit risk mainly arises from customers' failure to repay accounts receivable, but monetary funds and financing receivables are considered to have low credit risk[509](index=509&type=chunk) - The company manages liquidity risk through rolling liquidity plans and believes financial liabilities do not pose significant market interest rate change risks, with no significant foreign exchange rate change risks due to no export sales revenue[510](index=510&type=chunk)[512](index=512&type=chunk) [Fair Value Disclosure](index=109&type=section&id=Fair%20Value%20Disclosure) Period-end assets measured at fair value primarily consisted of financing receivables (bank acceptance bills) totaling 628,979.37 yuan, measured at face amount Fair Value of Assets and Liabilities Measured at Fair Value at Period-End | Item | Level 3 Fair Value Measurement (Yuan) | Total (Yuan) | | :--- | :--- | :--- | | (I) Financing Receivables | 628,979.37 | 628,979.37 | | Of which: Bank Acceptance Bills | 628,979.37 | 628,979.37 | | Total Assets Continuously Measured at Fair Value | 628,979.37 | 628,979.37 | - Financing receivables are bank acceptance bills from highly-rated banks, measured at fair value based on their face amount[517](index=517&type=chunk) [Related Parties and Related Party Transactions](index=110&type=section&id=Related%20Parties%20and%20Related%20Party%20Transactions) The company, without a parent or actual controller, engaged in IT service sales with a major shareholder and received guarantees from key management - The company has no parent company or actual controller[518](index=518&type=chunk) Sales of Goods/Provision of Services | Related Party | Related Party Transaction Content | Amount for Current Period (Yuan) | | :--- | :--- | :--- | | Hunan Data Industry Group Co, Ltd | Information Technology Services | 3,947,846.69 | | Digital Hunan Co, Ltd | Information Technology Services | 0 | Key Management Personnel Compensation | Item | Amount for Current Period (Yuan) | | :--- | :--- | | Key Management Personnel Compensation | 1,724,962.19 | [Share-Based Payment](index=112&type=section&id=Share-Based%20Payment) This section does not provide specific information on share-based payment [Commitments and Contingencies](index=112&type=section&id=Commitments%20and%20Contingencies) As of the balance sheet date, the company had no significant commitments or contingencies requiring disclosure - As of the balance sheet date, the company had no significant commitments requiring disclosure[532](index=532&type=chunk) - As of the balance sheet date, the company had no significant contingencies requiring disclosure[533](index=533&type=chunk) [Events After the Balance Sheet Date](index=112&type=section&id=Events%20After%20the%20Balance%20Sheet%20Date) As of the financial statement approval date, the company had no other non-adjusting events after the balance sheet date requiring disclosure - As of the financial statement approval date, the company had no other non-adjusting events after the balance sheet date requiring disclosure[536](index=536&type=chunk) [Other Significant Matters](index=113&type=section&id=Other%20Significant%20Matters) The company determines operating segments based on internal structure but does not report detailed segment information due to similar economic characteristics across its IT service projects - The company determines operating segments based on internal organizational structure, management requirements, and internal reporting systems[538](index=538&type=chunk) - Due to the company's revenue and assets primarily relating to the software and information technology service industry, with similar economic characteristics across different projects, more detailed operating segment information is not required[540](index=540&type=chunk) [Notes to Parent Company Financial Statement Items](index=113&type=section&id=Notes%20to%20Parent%20Company%20Financial%20Statement%20Items) This section details key items in the parent company's financial statements, including accounts receivable, other receivables, and long-term equity investments - Parent company period-end accounts receivable book balance was **251 million yuan**, with impairment provisions of **93.09 million yuan**, a book value of **158 million yuan**, and an impairment provision ratio of **37.09%**[114](index=114&type=chunk)[546](index=546&type=chunk) - Parent company other receivables period-end book balance was **146 million yuan**, with impairment provisions of **102 million yuan**, a book value of **44.48 million yuan**, and amounts from Dayou Digital Technology (Beijing) Co, Ltd fully provisioned for bad debts[115](index=115&type=chunk)[559](index=559&type=chunk)[560](index=560&type=chunk) - Parent company long-term equity investments had a period-end book value of **15.87 million yuan**, including **15.72 million yuan** in investments in subsidiaries and **0.1493 million yuan** in investments in associates and joint ventures[118](index=118&type=chunk)[572](index=572&type=chunk) [Supplementary Information](index=121&type=section&id=Supplementary%20Information) This section provides details on non-recurring gains and losses, net asset return, and earnings per share, confirming no accounting data differences under various standards Current Period Non-Recurring Gains and Losses Details | Item | Amount (Yuan) | | :--- | :--- | | Disposal Gains/Losses of Non-Current Assets | -38,268.00 | | Government Grants Recognized in Current P&L (Excluding Recurring) | 46.37 | | Other Non-Operating Income and Expenses (Excluding Above) | 22,739.78 | | **Total** | **-15,481.85** | Net Asset Return and Earnings Per Share | Profit for the Reporting Period | Weighted Average ROE | Basic EPS (Yuan/Share) | Diluted EPS (Yuan/Share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders | -17.98% | -0.21 | -0.21 | | Net Profit Attributable to Common Shareholders After Deducting Non-Recurring Gains and Losses | -17.97% | -0.21 | -0.21 | - The company reported no differences in accounting data under domestic and overseas accounting standards during the reporting period[587](index=587&type=chunk)

Group 1 - The core viewpoint highlights the significant growth and performance of the Sci-Tech Information Technology ETF, which has seen a 110.55% increase in net value over the past year, ranking in the top 4.15% among comparable index funds [3] - The ETF has experienced a notable increase in trading volume, with a daily average transaction of 42.96 million yuan over the past week, ranking first among comparable funds [3] - The ETF's scale has grown by 37.91 million yuan in the past two weeks, also leading among comparable funds [3] Group 2 - The research team indicates that the Chinese government's emphasis on AI's role in economic development is increasing, as evidenced by the recent policy document outlining key actions in six areas, including technology and global cooperation [4] - The document sets ambitious targets for AI penetration rates of 70% by 2027 and 90% by 2030, suggesting significant growth potential in various traditional industries [4] - The top ten weighted stocks in the new generation information technology index include major companies like SMIC and Cambricon, collectively accounting for 55.76% of the index [4] Group 3 - The Sci-Tech Information Technology Index consists of stocks from the Sci-Tech Innovation Board, focusing on sectors such as chips, software, cloud computing, big data, and artificial intelligence, providing comprehensive coverage from hardware to application layers [6] - The index is positioned to benefit from trends in AI computing power, chips, computers, and communications, making it a diversified investment option in the AI sector [6]

科创信息8月26日收盘报22.23元，较前一交易日下跌0.67%。当日股价波动明显，最高触及22.87元，最 低下探21.60元，振幅达5.67%。早盘9点35分曾出现快速反弹，五分钟内拉升超过2%。 该公司主营业务为软件开发及相关技术服务，涉及物联网、云计算等领域。作为湖南地区企业，科创信 息在行业内具有一定知名度。 从资金流向来看，8月26日主力资金净流出629.35万元，近五个交易日累计净流出1880.40万元。当日成 交量为47.22万手，成交金额10.51亿元，换手率达到24.01%。 风险提示：股市有风险，投资需谨慎。 ...

Company Overview - Kexin Information Technology Co., Ltd. is located in Changsha, Hunan Province, established on January 13, 1998, and listed on December 5, 2017. The company's main business involves product development and services in the fields of digital government and smart enterprises [1][2]. - The revenue composition of the company is as follows: digital government 58.84%, smart enterprises 40.94%, and others 0.22% [1]. Financial Performance - As of August 8, Kexin Information had 28,100 shareholders, a decrease of 1.67% from the previous period, with an average of 7,006 circulating shares per shareholder, an increase of 1.70% [2]. - For the first quarter of 2025, the company reported operating revenue of 15.35 million yuan, a year-on-year decrease of 80.57%, and a net profit attributable to shareholders of -25.69 million yuan, a year-on-year decrease of 51.99% [2]. Stock Performance - On August 26, Kexin Information's stock price fell by 2.14%, closing at 21.90 yuan per share, with a trading volume of 242 million yuan and a turnover rate of 5.55%, resulting in a total market capitalization of 5.281 billion yuan [1]. - Year-to-date, the stock price has increased by 79.95%, with a 5-day increase of 8.85%, a 20-day increase of 47.97%, and a 60-day increase of 64.66% [1]. - The company has appeared on the "Dragon and Tiger List" six times this year, with the most recent appearance on August 25, where the net buying on that day was -62.68 million yuan [1]. Dividend Information - Since its A-share listing, Kexin Information has distributed a total of 51.03 million yuan in dividends, with 3.61 million yuan distributed over the past three years [3].

Group 1: ETF Performance - The Sci-Tech Information Technology ETF has a turnover rate of 13.03% and a trading volume of 35.94 million yuan, indicating active market participation [3] - As of August 22, the ETF's one-year average daily trading volume is 28.26 million yuan, ranking first among comparable funds [3] - The latest scale of the ETF reached 265 million yuan, marking a one-month high and also ranking first among comparable funds [3] - In the past week, the ETF's shares increased by 3.5 million, leading in new share growth among comparable funds [3] - The ETF's net value has risen by 102.16% over the past year, placing it in the top 3.94% of index equity funds [3] - Since its inception, the ETF has achieved a maximum monthly return of 26.31% and an average monthly return of 8.19% [3] Group 2: Domestic AI Chip Development - Domestic AI chips are continuously improving in performance, supporting the localization of AI computing power [4] - Progress in design and manufacturing of domestic AI chips enhances compatibility with domestic large models, contributing to a more complete domestic computing ecosystem [4] - The advancements in domestic chips help reduce AI training and inference costs, providing long-term technical support for the domestic AI ecosystem [4] - The top ten weighted stocks in the new generation information technology index as of July 31, 2025, include major companies like SMIC and Cambricon, accounting for 55.76% of the index [4] Group 3: Index Composition - The Sci-Tech Information Technology Index consists of stocks from the Sci-Tech Board, focusing on various fields such as chips, software, cloud computing, big data, and artificial intelligence [6] - The index covers all layers from AI hardware to algorithms, models, and applications, positioning it as a comprehensive "AI all-in-one" investment opportunity [6]

Market Overview - The Shanghai Composite Index increased by 3.49% this week, with 92 stocks having a turnover rate exceeding 100% [1] - Among the stocks with a turnover rate over 100%, the machinery equipment sector had the highest representation with 23 stocks, followed by electronics and computers with 15 and 14 stocks respectively [1] High Turnover Stocks - Guangdong Jianke had the highest turnover rate at 251.47%, with a slight price decline of 0.14% over the week. The stock appeared on the daily trading list three times due to significant turnover and price movements [1] - Hengbao Co., Ltd. followed with a turnover rate of 215.75% and a price drop of 0.55%. It also appeared on the trading list multiple times due to high turnover and price deviations [1] - Kexin Information ranked third with a turnover rate of 214.55% and a price increase of 33.94%, indicating strong investor interest [2] Fund Flow Analysis - Guangdong Jianke experienced a net outflow of 33 million yuan in principal funds, while Hengbao Co., Ltd. saw a significant net outflow of 1.798 billion yuan [1][2] - Kexin Information had a net inflow of 10 million yuan in principal funds, reflecting positive market sentiment towards the stock [2] Performance Metrics - Stocks with a turnover rate over 100% averaged a weekly increase of 6.65%, with 62 stocks rising and 30 stocks declining [2] - The top gainers included Yuyin Co. with a 46.20% increase, Kexin Information with a 33.94% increase, and Haidaer with a 33.78% increase [2] Earnings Reports - Among the high turnover stocks, 34 have released mid-year reports, with Hanyu Pharmaceutical showing the highest net profit growth of 1504.30% year-on-year [2] - 18 stocks have announced half-year performance forecasts, with 8 expecting profit increases and 4 expecting to turn profitable [2]

Market Overview - As of August 22, the Shanghai Composite Index closed at 3825.76 points, up by 54.66 points, representing a 1.45% increase [1] - The Shenzhen Component Index closed at 12166.06 points, up by 246.30 points, with a 2.07% increase [1] - The ChiNext Index closed at 2682.55 points, up by 87.09 points, reflecting a 3.36% increase [1] Stock Performance - A total of 98 A-shares had a turnover rate exceeding 20%, with Nengzhiguang reaching over 50% [1] - The stock with the highest turnover rate was Nengzhiguang (920056), with a turnover rate of 73.08% and a price increase of 344.38% to close at 32.04 yuan [1] - Other notable stocks included: - Southern Precision (002553) with a turnover rate of 44.69% and a price increase of 5.50% [1] - Kexin Information (300730) with a turnover rate of 44.60% and a price increase of 9.56% [1] - Cross-Border Communication (002640) with a turnover rate of 42.59% but a price decrease of 2.15% [1] Additional Stock Highlights - Other stocks with significant turnover rates included: - Zhuoyue Technology (002369) with a turnover rate of 41.78% and a price increase of 4.07% [1] - Zhun Oil (002207) with a turnover rate of 39.64% and a price increase of 4.44% [1] - Zhongdian Xindong (002298) with a turnover rate of 38.90% and a price increase of 0.74% [1] - The performance of stocks varied, with some experiencing significant gains while others faced declines despite high turnover rates [1][2][3][4]

Group 1 - The innovation sector led the market with an increase of 3.12% [1] - Among the top performers, Yuntian Lifeng rose by 20.0%, while Gaoweida increased by 14.64% [1] - Haiguang Information saw a rise of 14.5%, and other companies like Pinggao Co., Sanwei Xinan, and Kechuang Information all experienced gains exceeding 10% [1]

Core Viewpoint - On August 21, the Shanghai Composite Index rose by 0.13%, with institutional investors appearing on the trading lists of 33 stocks, net buying 13 and net selling 20 [1][2]. Institutional Trading Summary - Institutional investors had a net selling amount of 150 million yuan across 33 stocks, marking the third consecutive day of net selling [1][3]. - The stock with the highest net buying was Zhongdian Xindong, which closed at the daily limit down with a turnover rate of 38.26% and a transaction volume of 2.807 billion yuan [2][5]. - Chuangyitong saw a significant increase of 15.01%, with a turnover rate of 19.77% and a transaction volume of 633 million yuan, resulting in a net buying of 62.8285 million yuan by institutions [2][6]. - Nanfang Jinggong experienced a decline of 1.36% with a turnover rate of 52.71% and a transaction volume of 4.497 billion yuan, where institutional investors net bought 60.5757 million yuan [2][6]. Market Performance Analysis - Stocks that institutions net bought averaged a rise of 4.65%, outperforming the Shanghai Composite Index [3]. - Strong performers included Hangzhou Gaoxin and Beixin Source, which closed at the daily limit up [3]. - Historical data indicates a 50% probability of stocks that institutions net bought rising the next day, with a 48.82% chance of outperforming the index [3]. Earnings Reports - Among the stocks net bought by institutions, three have reported a decline in net profit year-on-year [3]. - Five stocks have released half-year performance forecasts, with two expected to report profits. Nanfang Jinggong is projected to have a net profit of 225 million yuan, reflecting a year-on-year increase of 32,215.50% [3]. Stocks with Significant Institutional Activity - Hengbao Co. had the highest net selling amount among stocks, with a net selling of 109.801 million yuan due to a turnover rate of 41.62% [3][6]. - Other notable stocks include Chuanrun Co. and Kecai Information, which also saw significant net selling by institutions [4][6]. Deep and Hong Kong Stock Connect Activity - On August 21, 18 stocks on the trading list had participation from the Shenzhen and Hong Kong Stock Connect, with net buying in stocks like Jingbeifang and Wolong Electric Drive [7][8]. - Jingbeifang had a net buying amount of 176.236 million yuan, while Hengbao Co. faced the highest net selling of 262.6036 million yuan [7][8].

Market Performance - The ChiNext Index fell by 0.47%, closing at 2595.47 points, with a total trading volume of 656.375 billion yuan, an increase of 5.838 billion yuan compared to the previous trading day [2] - Among the tradable ChiNext stocks, 453 stocks closed higher, with 17 stocks rising over 10%, including Hangzhou High-tech and Beixin Source, which hit the daily limit [2] - The average turnover rate for ChiNext stocks today was 5.72%, with 45 stocks having a turnover rate exceeding 20% [2] High Turnover Stocks - The highest turnover rate was for Kexin Information, which closed up 13.17% with a turnover rate of 47.05% and a trading volume of 1.975 billion yuan [2][6] - Other notable high turnover stocks included Zhihua Power, which rose 2.54% with a turnover rate of 44.68%, and Boyuan Shares, which increased by 10.25% with a turnover rate of 40.62% [2][6] Institutional Activity - Seven high turnover ChiNext stocks appeared on the Dragon and Tiger List, with institutional participation noted in all of them [4] - Boyuan Shares saw a net institutional purchase of 37.8327 million yuan, while Beixin Source had a net purchase of 4.4452 million yuan [4] Fund Flow - Among high turnover stocks, 26 experienced net inflows of main funds, with Beixin Source leading at 825 million yuan, followed by Meiri Interactive and Sifang Precision with 356 million yuan and 333 million yuan, respectively [5] - Conversely, stocks like Chuanhuan Technology and Gaolan Shares faced significant net outflows of 227 million yuan and 177 million yuan, respectively [5] Earnings Reports - Nine high turnover stocks released semi-annual reports, with notable profit growth from Liyuan Information, Jinlu Electronics, and Tianyuan Dike, showing increases of 65.79%, 32.19%, and 13.97% in net profit, respectively [5] - Four stocks issued earnings forecasts, with three expecting profit increases, including Huacan Optoelectronics, which anticipates a net profit of -120 million yuan, reflecting a 51.30% year-on-year increase [5]