[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Item%201.%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, outlines the report's structure, lists reference documents, and defines key terms for clarity [Important Notes](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board of directors, supervisory board, and senior management guarantee the report's truthfulness, accuracy, and completeness, affirming the financial report's authenticity, with no interim cash dividends, bonus shares, or capital increase from capital reserves planned - The company's board of directors, supervisory board, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false records, misleading statements, or major omissions, and assume individual and joint legal liabilities[5](index=5&type=chunk) - Company head Zheng LeGuan, chief accountant Yang ShouHe, and head of accounting department (accounting supervisor) Xu MengLin declare that the financial report in this semi-annual report is true, accurate, and complete[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=%E7%9B%AE%E5%BD%95) The report's table of contents clearly lists eight main sections, covering important notes, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, and financial reports - The report comprises eight main sections: Important Notes, Table of Contents, and Definitions; Company Profile and Key Financial Indicators; Management Discussion and Analysis; Corporate Governance, Environment, and Society; Significant Matters; Share Changes and Shareholder Information; Bond-Related Information; and Financial Report[8](index=8&type=chunk) [Reference Documents](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) Reference documents include financial statements signed by the legal representative and chief accountant, original drafts of publicly disclosed documents on the CSRC-designated website, and the original semi-annual report, all available at the company's securities affairs management department - Reference documents include financial statements bearing the signatures and seals of the company's legal representative, chief accountant, and accounting supervisor[10](index=10&type=chunk) - Reference documents include the originals and drafts of all company documents publicly disclosed on the CSRC-designated website during the reporting period[11](index=11&type=chunk) - Reference documents include the original text of the 2025 semi-annual report signed by the company's legal representative, available at the company's securities affairs management department[12](index=12&type=chunk)[13](index=13&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) The report provides definitions for key terms, including company names, laws and regulations, technical concepts (e.g., computer simulation, VR/AR/MR, 3D engine, visual simulation, virtual scenario training), subsidiary names, and the reporting period, ensuring consistent understanding - Basic concepts such as the Company, Jiean Gaoke, Parent Company, Articles of Association, and Company Law are defined[14](index=14&type=chunk) - Technical and industry terms such as computer simulation, virtual reality/VR, augmented reality/AR, visual simulation, virtual scenario training, safety supervision, 3D engine, urban rail transit, and MR are explained[14](index=14&type=chunk) - Subsidiary names including Beijing Shenmou, Zhengzhou Jungong, Jiean Sales, Zhengzhou Jieshuo, Jiean Technology, Jiean Zhichuang, and Jiean Training are listed, and the reporting period is defined as January 1, 2025, to June 30, 2025[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information, contact details, and a summary of its key financial performance and position during the reporting period [Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Zhengzhou Jiean Gaoke Co., Ltd. (stock code: 300845) is listed on the Shenzhen Stock Exchange, with Zheng LeGuan as its legal representative - Company stock abbreviation: Jiean Gaoke, stock code: **300845**, stock exchange: Shenzhen Stock Exchange[16](index=16&type=chunk) - Company Chinese name: Zhengzhou Jiean Gaoke Co., Ltd., legal representative: Zheng LeGuan[16](index=16&type=chunk) [Contact Persons and Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The report discloses contact information for Board Secretary Wang JianJun and Securities Affairs Representative He DongDong, including address, phone, fax, and email, with no changes during the reporting period - The Board Secretary is Wang JianJun, and the Securities Affairs Representative is He DongDong[17](index=17&type=chunk) - Contact address: No. 56 Xuemei Street, Zhengzhou High-tech Industrial Development Zone; Phone: **0371-86589303**; Fax: **0371-60937778**; Email: dongshihui@jiean.net[17](index=17&type=chunk) [Other Information](index=6&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) The company's registered address, office address, website, email, information disclosure and storage locations, and registration status remained unchanged during the reporting period, with details available in the 2024 annual report - The company's registered address, office address and postal code, website, email, etc., remained unchanged during the reporting period, with details available in the 2024 annual report[18](index=18&type=chunk) - Information disclosure and storage locations remained unchanged during the reporting period, with details available in the 2024 annual report[19](index=19&type=chunk) - The company's registration status remained unchanged during the reporting period, with details available in the 2024 annual report[20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company's operating revenue decreased by **7.98%** year-on-year, net profit attributable to shareholders significantly dropped by **91.39%**, non-recurring net profit decreased by **107.12%**, and net cash flow from operating activities was negative, declining by **150.79%** year-on-year, with total assets and net assets attributable to shareholders also decreasing Key Accounting Data and Financial Indicators (Current Reporting Period vs. Prior Year Period) | Indicator | Current Period (Yuan) | Prior Year Period (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 101,731,213.32 | 110,558,696.33 | -7.98% | | Net Profit Attributable to Shareholders | 864,497.59 | 10,039,228.52 | -91.39% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | -598,590.83 | 8,412,416.89 | -107.12% | | Net Cash Flow from Operating Activities | -52,257,165.12 | -20,837,113.93 | -150.79% | | Basic Earnings Per Share (Yuan/share) | 0.0042 | 0.07 | -94.00% | | Diluted Earnings Per Share (Yuan/share) | 0.0042 | 0.07 | -94.00% | | Weighted Average Return on Net Assets | 0.10% | 1.25% | -1.15% | Key Accounting Data and Financial Indicators (End of Current Reporting Period vs. End of Prior Year) | Indicator | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 974,087,894.88 | 1,060,578,293.24 | -8.16% | | Net Assets Attributable to Shareholders | 789,637,902.89 | 835,564,515.69 | -5.50% | [Differences in Accounting Data Under Domestic and International Accounting Standards](index=7&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) During the reporting period, the company reported no differences in net profit and net assets between financial statements prepared under international or foreign accounting standards and those prepared under Chinese accounting standards - The company reported no differences in net profit and net assets between financial statements disclosed under International Accounting Standards 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 financial statements disclosed under foreign accounting standards and Chinese Accounting Standards during the reporting period[23](index=23&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=7&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **1,463,088.42 Yuan**, primarily comprising government subsidies, non-operating income and expenses, and other items defined as non-recurring gains and losses Non-Recurring Gains and Losses Items and Amounts | Item | Amount (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets (including reversal of impairment provisions) | -69,159.04 | | Government Subsidies Recognized in Current Profit or Loss (excluding those closely related to normal operations, compliant with national policies, enjoyed by fixed standards, and with a continuous impact on company profit or loss) | 546,415.09 | | Other Non-Operating Income and Expenses Apart from the Above | 367,019.18 | | Other Profit and Loss Items Meeting the Definition of Non-Recurring Gains and Losses | 617,273.95 | | Less: Income Tax Impact | -1,996.01 | | Minority Interest Impact (After Tax) | 456.77 | | Total | 1,463,088.42 | - The company has no specific situations involving other profit and loss items that meet the definition of non-recurring gains and losses[26](index=26&type=chunk) - The company has not classified any non-recurring gains and losses items listed in "Interpretive Announcement No. 1 on Information Disclosure by Companies Issuing Securities to the Public—Non-Recurring Gains and Losses" as recurring gains and losses[27](index=27&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section analyzes the company's business operations, financial performance, core competencies, and risks during the reporting period, along with management's strategies and outlook [Principal Business Activities During the Reporting Period](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company primarily provides virtual simulation training solutions for vocational education and training, with core businesses in rail transit training and emergency safety, also covering aviation transport, marine vessels, and equipment simulation, with no significant changes in principal business or products during the reporting period - The company primarily provides virtual simulation training solutions, promoting the application of virtual reality and simulation technologies in vocational education and training to enhance training effectiveness and cultivate highly skilled professionals for economic development[29](index=29&type=chunk) - During the reporting period, there were no significant changes in the company's principal business or main products, with operations still primarily focused on rail transit training and emergency safety, while also covering aviation transport, marine vessels, and equipment simulation[29](index=29&type=chunk) [Industry Development Overview](index=9&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E6%83%85%E5%86%B5) The rail transit industry continues to grow, with steady progress in high-speed rail networks and new training demands driven by increased intelligence, while in vocational education, vocational undergraduate education is rapidly developing, digital and AI technologies are deepening, skill training is emphasized, and industry-education integration is a key trend - As of the end of 2024, the national railway operating mileage reached **162,000 kilometers**, with high-speed rail accounting for **48,000 kilometers**; urban rail transit had **326 operating lines** and **10,923.8 kilometers** of operating mileage[30](index=30&type=chunk) - National strategic planning proposes that by 2035, the national railway network will reach **200,000 kilometers**, with high-speed rail network construction steadily advancing, forming a framework of "eight vertical and eight horizontal" high-speed rail main corridors, with a planned total scale of approximately **45,000 kilometers**[31](index=31&type=chunk) - Vocational undergraduate education is rapidly developing, with **87 vocational undergraduate universities** accumulated in China, and a planned enrollment scale of **550,000 students** for vocational undergraduate institutions[32](index=32&type=chunk) - In the first half of 2025, the application of digitalization and AI technologies in vocational education and the transportation industry accelerated, with the Ministry of Education issuing "Henan Province's 'AI+Education' Three-Year Action Plan (2025-2027)" and "Opinions on Accelerating the Promotion of Education Digitalization," fostering deep integration of AI and education[32](index=32&type=chunk)[34](index=34&type=chunk) - Virtual simulation technology is increasingly applied in vocational education and training, serving as a crucial bridge between theory and practice, effectively enhancing skill training outcomes[36](index=36&type=chunk) [Main Products and Uses](index=11&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E5%8F%8A%E7%94%A8%E9%80%94) The company's main products include rail transit simulation training systems (covering eight series for railway and urban rail transit), emergency safety simulation training systems (special operations safety training, public safety experience), marine vessel simulation training systems (ship operation, military simulation), and aviation transport professional skill training products (basic skills, aircraft maintenance, etc.) - Rail transit simulation training business primarily targets institutions offering rail transit-related majors, China State Railway Group and its subsidiaries, and subway companies, providing comprehensive computer simulation training system solutions covering railway and urban rail transit, divided into two major series: railway transit and urban rail transit[39](index=39&type=chunk) - Emergency safety business, guided by the concept of "smart emergency response, forging safety," creates comprehensive service solutions for professional special operations personnel safety training and on-the-job assessment within the emergency management system, and builds in-depth safety experience centers covering various scenarios such as fire safety, emergency self-rescue, traffic safety, home safety, and natural disasters[40](index=40&type=chunk) - Marine vessel simulation training business primarily provides various ship operation simulation training systems and military simulation training systems for shipping companies and military academies[41](index=41&type=chunk) - Aviation transport products primarily provide professional skill training products for aviation professional colleges, airlines, and industry training institutions, currently including five series: basic skill training, aircraft maintenance, system maintenance, engine maintenance, and aircraft inspection[43](index=43&type=chunk) [Business Model](index=12&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company's business model remained largely unchanged, featuring independent sales, procurement, production, and R&D systems, with sales primarily through bidding, procurement following a "production-driven" approach with cost optimization, production being "sales-driven" focusing on self-developed software and outsourced hardware, and R&D centering on independent development combined with cutting-edge industry technologies - During the reporting period, the company's business model did not undergo significant changes, and the company maintains independent sales, procurement, production, and R&D systems[44](index=44&type=chunk) - On the sales side, orders are primarily obtained through participation in bidding, with professional teams assigned based on client nature and region[44](index=44&type=chunk) - On the procurement side, a "production-driven procurement" model is implemented, reducing procurement costs through centralized purchasing, brand substitution, and framework integration of suppliers[44](index=44&type=chunk) - On the production side, "production is determined by sales," with the software portion of products primarily self-developed and the hardware portion mainly outsourced[44](index=44&type=chunk) - On the R&D side, independent research and development is primary, involving market research, customer needs analysis, and guidance from industry experts for developing new products and solutions, while also introducing new technologies to empower the company[44](index=44&type=chunk) [Company Market Position and Key Performance Drivers](index=12&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E5%85%AC%E5%8F%B8%E5%B8%82%E5%9C%BA%E5%9C%B0%E4%BD%8D%E5%8F%8A%E4%B8%BB%E8%A6%81%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) Leveraging its self-developed JANVR engine platform, the company holds a leading market position in virtual simulation education and training, with operations spanning **31 provinces, municipalities, and autonomous regions** domestically and **7 countries** internationally, serving over **1,500 clients**, with performance primarily driven by vocational education reform policies, industry-education integration models, technical support for competitions, and core product technology upgrades - The company is committed to empowering high-skilled talent training through digitalization and intelligence, relying on its self-developed JANVR engine platform to integrate virtual reality, mixed reality, system simulation, and other technologies with WorldSkills technical standards, national occupational standards, and industry technical specifications[45](index=45&type=chunk) - The company's business covers **31 provinces, municipalities, and autonomous regions** in China and **7 countries** across **3 continents** overseas, serving over **1,500 industry enterprises and higher education institutions**, establishing itself as a pioneer in the domestic rail transit virtual simulation training industry[45](index=45&type=chunk) - During the reporting period, the company and its subsidiaries collectively held **595 software copyrights**, **184 patents**, **15 provincial/ministerial level scientific and technological achievements**, and **7 CRCC test reports**[46](index=46&type=chunk) - Performance drivers include a deep understanding of policy mainlines such as vocational education reform and skilled talent cultivation, forming a "policy-business" linkage effect; achieving precise matching of technical value and market demand through a "school-enterprise cooperation + industry alliance + government engagement" model; the company serving as the sole technical support unit for competitions like rail vehicle technology for three consecutive sessions; and achieving scenario-based and intelligent breakthroughs in core products by integrating virtual simulation technology with AI and other advanced technologies[47](index=47&type=chunk) [Analysis of Core Competencies](index=13&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies lie in its integrated technology R&D advantage (JANVR technology system), comprehensive product line advantage (full-professional rail transit solutions and "concentric diversification" product matrix), and global brand influence (participation in industry standard setting, international talent training programs, and WorldSkills Global Industry Partner status) - The company, with VR/AR/MR and other virtual reality technologies at its core, integrates system simulation, distributed collaborative simulation, big data, and artificial intelligence technologies to build its independently developed JANVR technology system, featuring a complete development platform and toolchain[49](index=49&type=chunk) - The company has focused on serving the rail transit vocational education sector for over **20 years**, with rail transit product solutions now covering **9 major specialties** including vehicle, machinery, engineering, electrical, rolling stock, power supply, communication, passenger, and freight, supporting multi-position collaborative drills, making it the only company in the domestic relevant field with full-professional solution capabilities[50](index=50&type=chunk) - Leveraging its national-level R&D center for the transportation industry, the company actively participates in **12 industry standard constructions**, deeply serves national strategies like "Transportation Power" and "Belt and Road," participates in "Belt and Road" talent training projects such as South Africa, China-Thailand, China-Laos, Pakistan Lahore Orange Line, and Jakarta-Bandung High-Speed Rail, became a WorldSkills Global Industry Partner in **2021**, and established a service network covering **7 countries** across **3 continents**, forming a global brand influence[51](index=51&type=chunk) [Analysis of Principal Business](index=13&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) During the reporting period, the company's operating revenue and net profit both declined, primarily due to extended project delivery cycles, increased industry competition leading to lower gross margins, and higher depreciation of fixed assets and financial expenses, with the company defining "empowering high-skilled talent training with digital intelligence technology" as its strategic direction and actively participating in domestic and international skill competitions and safety operations to drive technological innovation and product upgrades Key Financial Indicators for H1 2025 | Indicator | Amount (Thousands of Yuan) | Year-on-Year Change | | :--- | :--- | :--- | | Operating Revenue | 10,173.12 | -7.98% | | Net Profit Attributable to Shareholders | 86.45 | -91.39% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | -59.86 | -107.12% | - Reasons for the decline in revenue and net profit during the reporting period include: extended delivery cycles for some projects, preventing acceptance in the first half; increased industry competition, leading to a **4.99%** year-on-year decrease in gross margin for the rail transit industry; significant year-on-year increase in fixed asset depreciation; and higher financial expenses due to decreased wealth management income[52](index=52&type=chunk)[53](index=53&type=chunk) - The company collaborated with consulting firms for strategic planning and decoding, defining "empowering high-skilled talent training with digital intelligence technology" as its strategic direction, and initially focusing on strengthening core businesses, expanding international presence, and deepening industry-education integration[54](index=54&type=chunk) - As the exclusive technical support unit, the company has participated deeply in the National Vocational Skills Competition for three consecutive sessions, covering four major events during the reporting period: aircraft maintenance, intelligent connected vehicle assembly and commissioning, integrated circuit engineering technology and rail vehicle technology, serving selection competitions in over **10 provinces**[55](index=55&type=chunk) - In international competitions, the company provided full technical support for the 2025 Rail Vehicle Technology International Training Camp, promoting the international output of vocational education with Chinese characteristics, and served as a co-organizer for the "Belt and Road and BRICS Skills Competition," providing review services for the technical solution of the rail transit vehicle electrical comprehensive inspection skill event[55](index=55&type=chunk) - During the reporting period, the company constructed Zhengzhou's first intelligent education and experience base for work injury prevention and participated in the 2025 National "Safety Publicity and Consultation Day" event, showcasing its MR hazard identification experience system and other products to popularize safety knowledge[56](index=56&type=chunk) - The company launched an integrated aircraft maintenance training platform based on domestic large aircraft, integrating intelligence, scenario-based learning, and integration, achieving full-process digitalization from "fault simulation - disassembly and assembly training - assessment and evaluation," and gaining recognition from leading enterprises[57](index=57&type=chunk) [Year-on-Year Changes in Key Financial Data](index=15&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) During the reporting period, the company's operating revenue decreased by **7.98%** year-on-year, primarily due to delayed delivery and acceptance of major projects; net cash flow from operating activities decreased by **150.79%** year-on-year, mainly due to increased maturity payments of notes payable and tax payments at the beginning of the year; and net cash flow from investing activities increased by **86.29%** year-on-year, primarily due to the capitalization of construction in progress and reduced capital expenditure on fundraising projects Year-on-Year Changes in Key Financial Data | Indicator | Current Period (Yuan) | Prior Year Period (Yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 101,731,213.32 | 110,558,696.33 | -7.98% | Primarily due to longer delivery periods for some major projects, not yet delivered and accepted in the semi-annual period | | Operating Cost | 54,612,604.61 | 58,595,654.11 | -6.80% | Proportional change with revenue | | Selling Expenses | 17,415,785.60 | 18,215,591.82 | -4.39% | | | Administrative Expenses | 20,478,419.45 | 17,378,332.59 | 17.84% | Primarily due to increased depreciation and amortization | | Financial Expenses | -2,171,949.24 | -4,539,057.35 | -52.15% | Primarily due to decreased bank wealth management interest rates | | Income Tax Expense | 409,833.06 | 1,902,549.69 | -78.46% | Primarily due to decreased profit in the current period, leading to lower current income tax | | R&D Investment | 17,642,269.01 | 16,492,047.02 | 6.97% | | | Net Cash Flow from Operating Activities | -52,257,165.12 | -20,837,113.93 | -150.79% | Primarily due to increased maturity payments of notes payable and tax payments at the beginning of the year | | Net Cash Flow from Investing Activities | -4,908,150.68 | -35,808,671.89 | 86.29% | Primarily due to capitalization of construction in progress and reduced capital expenditure on fundraising projects | | Net Cash Flow from Financing Activities | -20,541,126.15 | -43,864,025.52 | 53.17% | Primarily due to discounted notes and increased short-term financing | | Net Increase in Cash and Cash Equivalents | -77,706,441.95 | -100,509,811.34 | 22.69% | | | Investment Income | 1,361,109.56 | 1,206,335.23 | 12.83% | | [Products or Services Accounting for Over 10% of Revenue](index=15&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) Rail transit simulation training systems remain the primary revenue source, but operating revenue decreased by **12.99%** year-on-year, with gross margin declining by **4.99%**, while safety operation simulation training system revenue increased by **46.42%** year-on-year, and gross margin improved by **9.68%**, with vocational education sector revenue growing by **12.39%**, but gross margin decreasing by **11.35%**, and transportation sector revenue declining by **27.37%** Breakdown by Product or Service | Product or Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Rail Transit Simulation Training System | 74,679,375.05 | 40,522,893.23 | 45.74% | -12.99% | -4.18% | -4.99% | | Safety Operation Simulation Training System | 18,536,399.75 | 9,062,036.13 | 51.11% | 46.42% | 22.22% | 9.68% | Breakdown by Customer Industry | Customer Industry | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Vocational Education Industry | 41,513,508.85 | 22,848,563.73 | 44.96% | 12.39% | 41.57% | -11.35% | | Transportation Industry | 39,469,751.24 | 21,656,558.11 | 45.13% | -27.37% | -26.30% | -0.79% | Composition of Principal Business Costs | Cost Component | Amount in Current Period (Yuan) | Proportion of Operating Cost | Amount in Prior Year Period (Yuan) | Proportion of Operating Cost | Year-on-Year Change (Percentage Points) | | :--- | :--- | :--- | :--- | :--- | :--- | | Direct Materials | 38,535,532.06 | 70.56% | 41,252,964.72 | 70.58% | -0.02% | | Direct Labor | 3,553,386.32 | 6.51% | 4,858,083.93 | 8.31% | -1.80% | | Outsourcing Expenses | 10,845,365.07 | 19.86% | 9,372,233.86 | 16.03% | 3.83% | | Manufacturing Overhead | 1,678,321.16 | 3.07% | 2,969,364.75 | 5.08% | -2.01% | | Total | 54,612,604.61 | 100.00% | 58,452,647.26 | 100.00% | | [Analysis of Non-Principal Business](index=16&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company had no non-principal business analysis during the reporting period - The company had no non-principal business analysis during the reporting period[66](index=66&type=chunk) [Analysis of Assets and Liabilities](index=16&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, the company's total assets and net assets attributable to shareholders both decreased, with the reduction in monetary funds primarily due to year-end bonus payments, dividends, and supplier payments; inventory increased mainly due to stock preparation for existing orders; short-term borrowings rose due to discounted bank acceptance bills; and contract liabilities increased due to higher advance receipts for goods Significant Changes in Asset Composition | Item | Amount at End of Current Period (Yuan) | Proportion of Total Assets | Amount at End of Prior Year (Yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 204,141,398.36 | 20.96% | 282,004,542.07 | 26.59% | -5.63% | Primarily due to year-end bonus payments, dividends, supplier payments, and tax expenses leading to a decrease in monetary funds | | Accounts Receivable | 200,979,658.20 | 20.63% | 219,334,941.76 | 20.68% | -0.05% | | | Contract Assets | 19,751,588.44 | 2.03% | 31,932,773.18 | 3.01% | -0.98% | | | Inventories | 149,478,682.96 | 15.35% | 138,707,835.92 | 13.08% | 2.27% | Primarily due to increased existing orders and increased project stock preparation | | Short-term Borrowings | 25,107,200.00 | 2.58% | 0.00 | 0.00% | 2.58% | Due to discounted bank acceptance bills, increasing short-term financing | | Contract Liabilities | 14,439,574.74 | 1.48% | 8,148,578.01 | 0.77% | 0.71% | Primarily due to increased advance receipts for goods in the current period | | Notes Receivable | 5,641,722.16 | 0.58% | 5,320,739.47 | 0.50% | 0.08% | | | Financing for Receivables | 6,878,371.83 | 0.71% | 1,996,697.79 | 0.19% | 0.52% | Primarily due to an increase in bank acceptance bills on hand | | Prepayments | 6,959,604.13 | 0.71% | 3,631,434.57 | 0.34% | 0.37% | Increased prepayments for project stock preparation | | Other Current Assets | 23,175,260.96 | 2.38% | 15,726,865.87 | 1.48% | 0.90% | Primarily due to increased interest receivable and increased prepaid taxes | | Accounts Payable | 105,667,783.18 | 10.85% | 129,245,135.81 | 12.19% | -1.34% | Primarily due to payments to suppliers | | Other Current Liabilities | 3,203,948.56 | 0.33% | 2,336,467.16 | 0.22% | 0.11% | Primarily due to increased advance receipts for goods in the current period | - The company had no significant overseas assets during the reporting period[69](index=69&type=chunk) - At the end of the reporting period, the company's financial assets measured at fair value had a balance of **0**, and financial liabilities had a balance of **0**[70](index=70&type=chunk) - As of the end of the reporting period, restricted asset rights included: **17.49 Yuan** in other monetary funds as interest on letter of guarantee deposits; **35,915,080.42 Yuan** as funds frozen due to litigation; and **1,493,546.12 Yuan** as temporarily restricted funds of Jiean Technology, held in a tripartite co-managed account[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) [Analysis of Investment Status](index=18&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) The company had no significant equity or non-equity investments during the reporting period, with the overall utilization rate of raised funds at **63.01%** and **36.85%** of funds having their purposes cumulatively changed, while some fundraising projects deviated from original plans, and the "Safety Operation Simulation Industrialization Project" was terminated, with remaining funds reallocated to the "AI Vocational Education Platform Construction Project Based on Vertical Large Models for Vocational Education", and the balance of entrusted wealth management at period-end was **70 million Yuan** - The company had no significant equity investments acquired or significant non-equity investments in progress during the reporting period[74](index=74&type=chunk) Overall Utilization of Raised Funds | Indicator | Amount (Thousands of Yuan) | | :--- | :--- | | Total Raised Funds | 40,707.67 | | Net Raised Funds | 34,017.12 | | Total Raised Funds Used in Current Period | 1,167.97 | | Total Raised Funds Cumulatively Used | 21,435.31 | | Proportion of Raised Funds Used at End of Reporting Period | 63.01% | | Total Raised Funds with Changed Purpose in Current Period | 6,251.22 | | Total Raised Funds with Cumulatively Changed Purpose | 12,536.10 | | Proportion of Total Raised Funds with Cumulatively Changed Purpose | 36.85% | | Total Unused Raised Funds | 6,296.92 | - The "Rail Transit Virtual Simulation Training System Technology Transformation Project" and "R&D Center Project" have been completed, and the remaining funds (including interest income) of approximately **75.0673 million Yuan** (actual amount subject to the special account balance on the transfer date) will be fully invested in the "AI Vocational Education Platform Construction Project Based on Vertical Large Models for Vocational Education"[78](index=78&type=chunk) - The company has terminated the "Safety Operation Simulation Industrialization Project," primarily due to factors such as the macroeconomic environment and changes in market demand[77](index=77&type=chunk) Overview of Entrusted Wealth Management | Specific Type | Source of Entrusted Wealth Management Funds | Amount of Entrusted Wealth Management (Thousands of Yuan) | Unmatured Balance (Thousands of Yuan) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 4,500 | 0 | | Bank Wealth Management Products | Raised Funds | 8,000 | 7,000 | | Total | | 12,500 | 7,000 | - The company had no derivative investments or entrusted loans during the reporting period[82](index=82&type=chunk)[83](index=83&type=chunk) [Significant Asset and Equity Sales](index=22&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) The company did not sell any significant assets or equity during the reporting period - The company did not sell any significant assets during the reporting period[84](index=84&type=chunk) - The company did not sell any significant equity during the reporting period[85](index=85&type=chunk) [Analysis of Major Holding and Participating Companies](index=22&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 had no significant holding or participating company information requiring disclosure during the reporting period - The company had no significant holding or participating company information requiring disclosure during the reporting period[85](index=85&type=chunk) [Information on Structured Entities Controlled by the Company](index=22&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 had no controlled structured entities during the reporting period - The company had no controlled structured entities during the reporting period[86](index=86&type=chunk) [Risks Faced by the Company and Countermeasures](index=23&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 such as long accounts receivable collection cycles, intensified industry competition, loss and shortage of highly skilled talent, seasonal revenue fluctuations, and declining product competitiveness, with countermeasures including strengthening accounts receivable management, increasing R&D investment, enhancing talent acquisition and development, reinforcing budget management, and conducting market research - Risk of untimely collection of accounts receivable: Customer settlement approval and fund disbursement are affected by process progress, leading to longer collection cycles. Countermeasures: Strengthen accounts receivable management, analyze customer creditworthiness, regularly analyze aging, make collection an important performance indicator for the sales department, and take legal action when necessary[87](index=87&type=chunk) - Industry competition risk: Rapid development of AI technology combined with industry applications makes cross-industry competition more feasible. Countermeasures: Closely follow technological developments, accelerate the introduction of highly skilled talent, increase R&D investment, enhance product user experience, and meet diverse customer needs[88](index=88&type=chunk) - Risk of talent loss and shortage: The high-tech industry has a high demand for highly skilled talent. Countermeasures: Continuously strengthen talent acquisition efforts, establish a systematic training system, offer competitive compensation and benefits, and foster a positive, open, and inclusive corporate culture[89](index=89&type=chunk) - Risk of seasonal revenue fluctuations: The company's clients are primarily educational institutions, government departments, or fiscally supported entities, with procurement planning and acceptance concentrated in the second half of the year, leading to uneven revenue. Countermeasures: Strive to mitigate seasonal revenue fluctuations, explore virtual simulation markets in other industries, strengthen budget management, and plan funds in advance[90](index=90&type=chunk)[91](index=91&type=chunk) - Product competitiveness risk: Technological development, especially the continuous integration of AI technology with various industries, leads to evolving customer product demands. Countermeasures: Embrace technological changes, strengthen market research and analysis, deeply understand target market demands and competitive landscape, and ensure products address customer pain points[92](index=92&type=chunk) [Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=24&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) During the reporting period, the company engaged with the public and investors through online platform discussions; the main topics and materials provided are detailed in the investor relations activity records disclosed on Juchao Information Network - Reception dates: **April 30, 2025**, and **May 22, 2025**[93](index=93&type=chunk) - Reception method: Online platform communication[93](index=93&type=chunk) - Type of reception objects: Public, investors, etc[93](index=93&type=chunk) - Main topics discussed and materials provided: Refer to Juchao Information Network's "Jiean Gaoke 2024 Annual and Q1 2025 Online Performance Briefing Investor Relations Activity Record" and "Investor Relations Activity Record 20250522"[93](index=93&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=24&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period - The company has not formulated a market value management system[94](index=94&type=chunk) - The company has not disclosed a valuation enhancement plan[94](index=94&type=chunk) [Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=25&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E2%80%9C%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%E2%80%9D%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period - The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan[95](index=95&type=chunk) [Corporate Governance, Environment, and Society](index=25&type=section&id=Item%204.%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details changes in the company's directors, supervisors, and senior management, profit distribution plans, employee incentive measures, environmental information disclosure, and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=25&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there was a change in the company's senior management, with Yang ShouHe newly appointed as Chief Financial Officer on **January 20, 2025** Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Yang ShouHe | Chief Financial Officer | Appointment | 2025年01月20日 | Newly Appointed | [Profit Distribution and Capital Reserve to Share Capital Conversion in Current Period](index=25&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company plans no interim cash dividends, bonus shares, or capital increase from capital reserves for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[97](index=97&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=25&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 company has reviewed and approved the vesting of the third vesting period for the initial grant of the 2022 Restricted Stock Incentive Plan, involving **1,509,225 restricted shares** for **45 incentive recipients**, with **1,423,612 shares** from the first batch already registered and listed for circulation - On **June 24, 2025**, the company convened the 17th meeting of the Fifth Board of Directors and the 15th meeting of the Fifth Supervisory Board, reviewing and approving "Proposals on Adjusting Matters Related to the 2022 Restricted Stock Incentive Plan and the 2022 Second Phase Restricted Stock Incentive Plan," "Proposals on Canceling Partially Granted but Unvested Restricted Shares from the Initial Grant of the 2022 Restricted Stock Incentive Plan," and "Proposals on the Fulfillment of Vesting Conditions for the Third Vesting Period of the Initial Grant of the 2022 Restricted Stock Incentive Plan"[98](index=98&type=chunk) - The company approved the vesting registration for a total of **1,509,225 Class II restricted shares** for **45 incentive recipients** who met the vesting conditions for the third vesting period of the initial grant of the 2022 Restricted Stock Incentive Plan, to be processed in two batches[98](index=98&type=chunk) - Of these, **1,423,612 shares** for **44 incentive recipients** in the first batch were registered and listed for circulation on **July 15**[98](index=98&type=chunk) [Environmental Information Disclosure](index=26&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The listed company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[100](index=100&type=chunk) [Social Responsibility](index=26&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 actively fulfills its social responsibilities by improving corporate governance, strengthening information disclosure, actively engaging with investors, and maintaining stable dividend policies to protect shareholder and creditor rights; by standardizing employment, enhancing employee capabilities, and improving compensation and welfare systems to protect employee rights; by ensuring fair procurement and enhancing product and service quality to protect supplier and customer rights; and by obtaining occupational health and safety management system certification and promoting green office practices to ensure safe production and environmental protection - The company strictly adheres to the requirements of laws and regulations such as the "Company Law" and "Securities Law," continuously improving its corporate governance structure, establishing and perfecting internal management and control systems, promoting standardized operations, and effectively enhancing its governance level[102](index=102&type=chunk) - The company strictly implements management systems related to information disclosure and internal information transmission, standardizes information disclosure procedures, ensures the truthfulness, accuracy, and completeness of company information disclosure, and treats all investors fairly[103](index=103&type=chunk) - Since its listing, the company has adhered to the philosophy of actively rewarding shareholders and continuously implemented a cash dividend policy. The 2024 profit distribution plan involved a cash dividend of **3.50 Yuan** (tax inclusive) per **10 shares** and a conversion of capital reserves to **4 bonus shares** per **10 shares**, which was completed on **May 28, 2025**[106](index=106&type=chunk) - The company and its subsidiaries strictly comply with laws and regulations such as the "Labor Law" and "Labor Contract Law," legally signing labor contracts with employees, paying social insurance (pension, medical, unemployment, work injury, maternity), and housing provident funds for employees, effectively safeguarding their legitimate rights and interests[108](index=108&type=chunk) - The company has obtained GB/T45001-2020/ISO45001:2018 Occupational Health and Safety Management System certification and GB/T24001-2016 / ISO14001:2015 Environmental Management System certification, strictly establishing safety production and occupational health management measures in accordance with system standards, and effectively managing employee safety and environmental protection[114](index=114&type=chunk) [Significant Matters](index=29&type=section&id=Item%205.%20Significant%20Matters) This section covers the company's commitments, related party transactions, external guarantees, auditor appointments, litigation, penalties, integrity status, and other significant events during the reporting period [Commitments](index=29&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, there were no commitments by the company's actual controllers, shareholders, related parties, acquirers, or the company itself that were either fulfilled or overdue - During the reporting period, there were no commitments by the company's actual controllers, shareholders, related parties, acquirers, or the company itself that were either fulfilled or overdue as of the end of the reporting period[116](index=116&type=chunk) [Non-Operating Occupation of Funds](index=29&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, there was no non-operating occupation of listed company funds by controlling shareholders or other related parties - During the reporting period, there was no non-operating occupation of listed company funds by controlling shareholders or other related parties[117](index=117&type=chunk) [Irregular External Guarantees](index=29&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[118](index=118&type=chunk) [Appointment and Dismissal of Accounting Firms](index=29&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was unaudited - The company's semi-annual report was unaudited[119](index=119&type=chunk) [Explanation of Non-Standard Audit Report](index=29&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E3%80%81%E5%AE%A1%E8%AE%A1%E5%A7%94%E5%91%98%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[120](index=120&type=chunk) [Explanation of Prior Year's Non-Standard Audit Report](index=29&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) 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[120](index=120&type=chunk) [Bankruptcy and Reorganization Matters](index=29&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) The company had no bankruptcy and reorganization matters during the reporting period - The company had no bankruptcy and reorganization matters during the reporting period[120](index=120&type=chunk) [Litigation Matters](index=29&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 significant litigation or arbitration matters during the reporting period, with other lawsuits not meeting the disclosure threshold for significant litigation including cases where the company was the plaintiff, involving **25.573 million Yuan**, with some concluded or in enforcement; and cases where the company was the defendant, involving **39.137 million Yuan**, with some concluded, mediated, or under trial, none of which had a significant impact - The company had no significant litigation or arbitration matters during the current reporting period[121](index=121&type=chunk) Other Litigation Matters | Basic Information on Litigation (Arbitration) | Amount Involved (Thousands of Yuan) | Whether Provision for Liabilities Formed | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | Enforcement Status of Litigation (Arbitration) Judgment | | :--- | :--- | :--- | :--- | :--- | :--- | | Other lawsuits not meeting the disclosure threshold for significant litigation (company as plaintiff) | 2,557.3 | No | Some cases concluded, some in enforcement, some still under trial | No significant impact | Some cases in enforcement, some cases completed | | Other lawsuits not meeting the disclosure threshold for significant litigation (company as defendant) | 3,913.7 | No | Some cases concluded, some arbitrations mediated, some cases still under trial | No significant impact | Some cases dismissed, some cases settled through mediation | [Penalties and Rectification](index=30&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) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[123](index=123&type=chunk) [Integrity Status](index=30&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) During the reporting period, there were no integrity issues concerning the company, its controlling shareholders, or actual controllers - During the reporting period, there were no integrity issues concerning the company, its controlling shareholders, or actual controllers[124](index=124&type=chunk) [Significant Related Party Transactions](index=30&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company had no related party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, related party debt/credit, or dealings with affiliated financial companies - The company had no related party transactions related to daily operations during the reporting period[124](index=124&type=chunk) - The company had no related party transactions involving asset or equity acquisitions/disposals during the reporting period[125](index=125&type=chunk) - The company had no related party transactions involving joint external investments during the reporting period[126](index=126&type=chunk) - The company had no related party debt or credit transactions during the reporting period[127](index=127&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company and affiliated financial companies, or between the company's controlled financial companies and related parties[128](index=128&type=chunk)[129](index=129&type=chunk) - The company had no other significant related party transactions during the reporting period[130](index=130&type=chunk) [Significant Contracts and Their Performance](index=31&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company had no trusteeship, contracting, leasing matters, or significant guarantees, nor any other major contracts - The company had no trusteeship situations during the reporting period[131](index=131&type=chunk) - The company had no contracting situations during the reporting period[132](index=132&type=chunk) - The company had no leasing situations during the reporting period[133](index=133&type=chunk) - The company had no significant guarantee situations during the reporting period[134](index=134&type=chunk) - The company had no other significant contracts during the reporting period[137](index=137&type=chunk) [Explanation of Other Significant Matters](index=32&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 had no other significant matters requiring explanation during the reporting period - The company had no other significant matters requiring explanation during the reporting period[138](index=138&type=chunk) [Significant Matters of Company Subsidiaries](index=32&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) 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[139](index=139&type=chunk) [Share Changes and Shareholder Information](index=33&type=section&id=Item%206.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital, securities issuance, shareholder structure, and holdings of directors, supervisors, and senior management, as well as any changes in controlling shareholders or actual controllers [Share Change Status](index=33&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company completed its 2024 profit distribution, converting capital reserves into **4 bonus shares per 10 shares**, increasing total share capital from **145,892,868 shares** to **203,629,095 shares**, which diluted earnings per share and net assets per share, and also increased restricted shares Share Change Status | Item | Quantity Before Change (Shares) | Proportion Before Change | Capital Reserve to Shares (Shares) | Quantity After Change (Shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 43,594,194.00 | 29.88% | 17,437,682.00 | 61,031,876.00 | 29.97% | | 3. Other Domestic Shares | 43,594,194.00 | 29.88% | 17,437,682.00 | 61,031,876.00 | 29.97% | | Domestic Natural Person Holdings | 43,594,194.00 | 29.88% | 17,437,682.00 | 61,031,876.00 | 29.97% | | II. Unrestricted Shares | 102,298,674.00 | 70.12% | 40,298,545.00 | 142,597,219.00 | 70.03% | | 1. RMB Ordinary Shares | 102,298,674.00 | 70.12% | 40,298,545.00 | 142,597,219.00 | 70.03% | | III. Total Shares | 145,892,868.00 | 100.00% | 57,736,227.00 | 203,629,095.00 | 100.00% | - During the reporting period, the company completed its 2024 profit distribution, converting capital reserves into **4 bonus shares per 10 shares** for all shareholders, with a maximum conversion of **57,736,227 shares**, resulting in a total share capital of **203,629,095 shares** after the conversion[143](index=143&type=chunk) - The proposal for the company's 2024 annual profit distribution plan was reviewed and approved by the 15th meeting of the Fifth Board of Directors, the 13th meeting of the Fifth Supervisory Board, and the 2024 Annual General Meeting of Shareholders, respectively[144](index=144&type=chunk) - After the conversion of capital reserves into share capital, the company's total share capital increased from **145,892,868 shares** to **203,629,095 shares**. As of the end of the reporting period, basic earnings per share were **0.0042 Yuan**, with a corresponding dilution of **0.0042 Yuan** in earnings per share and **0 Yuan** in net assets per share[144](index=144&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (Shares) | Shares Released from Restriction in Current Period (Shares) | Restricted Shares Increased in Current Period (Shares) | Restricted Shares at End of Period (Shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Zheng LeGuan | 16,306,409 | 0 | 6,522,564 | 22,828,973 | Senior Management Lock-up Shares | | Zhang AnQuan | 15,610,773 | 0 | 6,244,310 | 21,855,083 | Senior Management Lock-up Shares | | Gao ZhiSheng | 7,181,228 | 0 | 2,872,491 | 10,053,719 | Senior Management Lock-up Shares | | Wang JianJun | 70,200 | 0 | 28,080 | 98,280 | Senior Management Lock-up Shares | | Zhu YunLan | 69,498 | 0 | 27,800 | 97,298 | Senior Management Lock-up Shares | | Jin DengGe | 32,994 | 0 | 13,198 | 46,192 | Senior Management Lock-up Shares | | Du YanQi | 4,077,743 | 0 | 1,631,097 | 5,708,840 | Senior Management Lock-up Shares | | Zhai YanChen | 69,498 | 0 | 27,800 | 97,298 | Senior Management Lock-up Shares | | Song Yang | 90,558 | 0 | 36,224 | 126,782 | Senior Management Lock-up Shares | | Cui ZhiBin | 69,498 | 0 | 27,800 | 97,298 | Senior Management Lock-up Shares | | Zhang DaJian | 15,795 | 0 | 6,318 | 22,113 | Senior Management Lock-up Shares | | Total | 43,594,194 | 0 | 17,437,682 | 61,031,876 | | [Securities Issuance and Listing](index=35&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) The company had no securities issuance or listing during the reporting period - The company had no securities issuance or listing during the reporting period[147](index=147&type=chunk) [Number of Shareholders and Shareholding Status](index=35&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) At the end of the reporting period, the total number of ordinary shareholders was **18,007**, with Zheng LeGuan and Zhang AnQuan as controlling shareholders, actual controllers, and parties acting in concert, holding **14.95%** and **14.31%** respectively among the top ten shareholders, while Nanjing Jiajing Enterprise Management Partnership (Limited Partnership) held **5.54%**, and the company's dedicated share repurchase account held **1,552,300 shares**, accounting for **0.76%** of the total share capital - At the end of the reporting period, the total number of ordinary shareholders was **18,007**[148](index=148&type=chunk) Shareholding Status of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Number of Shares Held at End of Reporting Period (Shares) | Number of Restricted Shares Held (Shares) | Number of Unrestricted Shares Held (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Zheng LeGuan | Domestic Natural Person | 14.95% | 30,438,631 | 22,828,973 | 7,609,658 | | Zhang AnQuan | Domestic Natural Person | 14.31% | 29,140,11

捷安高科最新一期业绩显示，截至2025一季报，公司营业总收入2490.75万元、同比增长4.85%，归属净 利润679.56万元，同比减少41.61%，扣非净利润735.86万元，同比减少24.43%，流动比率3.932、速动比 率3.026、资产负债率16.46%。 金融界消息 截至2025年8月25日收盘，捷安高科（300845）报收于12.91元，下跌4.09%，换手率 11.89%，成交量17.12万手，成交金额2.22亿元。 资金流向方面，今日主力资金净流出1413.66万元，占比成交额6.35%。其中，超大单净流出1603.92万 元、占成交额7.21%，大单净流入190.26万元、占成交额0.86%，中单净流出流入904.26万元、占成交额 4.06%，小单净流入509.40万元、占成交额2.29%。 通过天眼查大数据分析，郑州捷安高科股份有限公司共对外投资了5家企业，参与招投标项目2764次， 知识产权方面有商标信息67条，专利信息258条，此外企业还拥有行政许可9个。 来源：金融界 天眼查商业履历信息显示，郑州捷安高科股份有限公司，成立于2002年，位于郑州市，是一家以从事软 件和信息技术服 ...

证券日报网讯捷安高科（300845）8月22日在互动平台回答投资者提问时表示，公司结合在应急安全领 域的技术积累和行业经验，按新标要求推出低压电工、高压电工、熔化焊接与热切割作业、高处作业、 登高架设作业的新一代考培设备，且具备量产条件。公司将积极开拓相关市场，挖掘客户需求，促进相 关订单落地。公司应急安全产品收入在公司整体收入中占比不高，2024年收入占比为10.07%，请注意 投资风险。 ...

Group 1 - The Ministry of Emergency Management officially released the "Regulations on the Management of Safety Production Examination Institutions and Examination Points" on May 6, 2025, which will be implemented nationwide starting October 9, 2025 [2] - The new examination and training separation policy is expected to enhance the company's business development in emergency safety [2] - The company has responded to the new regulations by launching a new generation of training equipment for various safety operations, which is ready for mass production [2] Group 2 - The company aims to actively explore related markets and identify customer needs to promote relevant order fulfillment [2] - The revenue from emergency safety products accounted for 10.07% of the company's total revenue in 2024 [2]

天眼查商业履历信息显示，郑州捷安高科股份有限公司，成立于2002年，位于郑州市，是一家以从事软 件和信息技术服务业为主的企业。企业注册资本14561.962万人民币，实缴资本3204万人民币。公司法 定代表人为郑乐观。 通过天眼查大数据分析，郑州捷安高科股份有限公司共对外投资了5家企业，参与招投标项目2759次， 知识产权方面有商标信息67条，专利信息258条，此外企业还拥有行政许可9个。 来源：金融界 金融界消息 截至2025年8月19日收盘，捷安高科（300845）报收于13.11元，下跌1.87%，换手率 16.57%，成交量23.86万手，成交金额3.13亿元。 资金流向方面，今日主力资金净流出1581.96万元，占比成交额5.05%。其中，超大单净流出143.08万 元、占成交额0.46%，大单净流出1438.87万元、占成交额4.6%，中单净流出流出745.89万元、占成交额 2.38%，小单净流入2327.84万元、占成交额7.44%。 捷安高科最新一期业绩显示，截至2025一季报，公司营业总收入2490.75万元、同比增长4.85%，归属净 利润679.56万元，同比减少41.61%，扣非净利 ...

来源：金融界 天眼查商业履历信息显示，郑州捷安高科股份有限公司，成立于2002年，位于郑州市，是一家以从事软 件和信息技术服务业为主的企业。企业注册资本14561.962万人民币，实缴资本3204万人民币。公司法 定代表人为郑乐观。 通过天眼查大数据分析，郑州捷安高科股份有限公司共对外投资了5家企业，参与招投标项目2756次， 知识产权方面有商标信息67条，专利信息258条，此外企业还拥有行政许可9个。 金融界消息 截至2025年8月14日收盘，捷安高科（300845）报收于11.43元，下跌3.46%，换手率 6.88%，成交量9.91万手，成交金额1.15亿元。 资金流向方面，今日主力资金净流出2107.07万元，占比成交额18.37%。其中，超大单净流出1540.58万 元、占成交额13.43%，大单净流出566.49万元、占成交额4.94%，中单净流出流入461.22万元、占成交 额4.02%，小单净流入1645.85万元、占成交额14.35%。 捷安高科最新一期业绩显示，截至2025一季报，公司营业总收入2490.75万元、同比增长4.85%，归属净 利润679.56万元，同比减少41.61%，扣非 ...

证券代码：300845 证券简称：捷安高科 公告编号：2025-045 郑州捷安高科股份有限公司 关于使用部分闲置募集资金及自有资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 郑州捷安高科股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日召开第 五届董事会第十五次会议和第五届监事会第十三次会议，审议通过了《关于使用 部分闲置募集资金及自有资金进行现金管理的议案》，同意公司在不影响募集资 金投资项目建设前提下，使用不超过 8,000 万元人民币的闲置募集资金进行现金 管理，同意公司及子公司（含孙公司）在正常运营前提下使用不超过 30,000 万 元人民币的闲置自有资金进行现金管理，使用期限自公司第五届董事会第十五次 会议审议通过之日起至下一年审议相同事项的董事会召开之日止，在前述额度和 期限范围内资金可以循环滚动使用。公司监事会发表了明确同意意见、保荐机构 民生证券股份有限公司发表了无异议意见，具体内容详见公司在巨潮资讯网披露 的《关于使用部分闲置募集资金及自有资金进行现金管理的公告》（公告编号： 2025-015）。 ...

近日公司收到控股股东、实际控制人郑乐观先生及张安全先生出具的《关 于股份减持情况的告知函》，获悉郑乐观先生及张安全先生于 2025 年 8 月 5 日 通过深圳证券交易所以集中竞价交易方式减持所持有的公司股份 585,820 股， 减持比例 0.2857%，本次权益变动后，控股股东、实际控制人郑乐观先生及张安 全先生合计持有公司股份由 59,578,741 股减少至 58,992,921 股，占公司总股 本的比例由 29.0553%下降至 28.7696%，变动触及 1%的整数倍。现将相关情况公 告如下： | 1．基本情况 | | | --- | --- | | 信息披露义务人 1 | 郑乐观 | | 住所 | 河南省郑州市****** | 1 证券代码：300845 证券简称：捷安高科 公告编号：2025-044 郑州捷安高科股份有限公司 关于控股股东、实际控制人权益变动触及 1%整数倍的提示性公告 控股股东、实际控制人郑乐观先生及张安全先生保证向本公司 提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或 重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 郑州捷安高科 ...

证券代码：300845 证券简称：捷安高科 公告编号：2025-043 郑州捷安高科股份有限公司 关于使用部分闲置自有资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 郑州捷安高科股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日召开第 五届董事会第十五次会议和第五届监事会第十三次会议，审议通过了《关于使用 部分闲置募集资金及自有资金进行现金管理的议案》，同意公司在不影响募集资 金投资项目建设前提下，使用不超过 8,000 万元人民币的闲置募集资金进行现金 管理，同意公司及子公司（含孙公司）在正常运营前提下使用不超过 30,000 万 元人民币的闲置自有资金进行现金管理，使用期限自公司第五届董事会第十五次 会议审议通过之日起至下一年审议相同事项的董事会召开之日止，在前述额度和 期限范围内资金可以循环滚动使用。公司监事会发表了明确同意意见、保荐机构 民生证券股份有限公司发表了无异议意见，具体内容详见公司在巨潮资讯网披露 的《关于使用部分闲置募集资金及自有资金进行现金管理的公告》（公告编号： 2025-015）。 近日，公 ...

Group 1 - On August 1, 2025, Jiean High-Tech executed a block trade of 521,400 shares, with a transaction value of 5.1931 million yuan, accounting for 2.8% of the total trading volume for that day [1][2] - The transaction price was 9.96 yuan per share, which represents a discount of 12.71% compared to the market closing price of 11.41 yuan [1][2]