Group 1 - The core viewpoint of the article highlights the financial performance of Shankai Intelligent, which reported a significant decline in revenue and net profit for the first half of 2025 [1] - The company's operating revenue for the first half of 2025 was approximately 236 million yuan, representing a year-on-year decrease of 28.96% [1] - The net profit attributable to shareholders was around 21.41 million yuan, reflecting a year-on-year decline of 48.36% [1] - Basic earnings per share were reported at 0.15 yuan, down 50% compared to the previous year [1] Group 2 - The article also mentions the booming pet industry, which is valued at 300 billion yuan, indicating a significant market opportunity for related companies [1] - The report suggests that the pet industry is experiencing a surge, with many listed companies in the sector seeing stock price increases [1]

单位：万元 | | 资金占用方 | 占用方与上市公 | 上市公司核算 | 2025年期初 | 2025年上半度 | 2025年上半年 | 2025年上半年 | 2025年上半年 | 占用形 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 名称 | 司的关联关系 | 的会计科目 | 占用资金余 额 | 占用累计发生 金额（不含利 | 占用资金的利 | 偿还累计发生 金额 | 期末占用资金 余额 | 成原因 | | | | | | | | 息） | 息（如有） | | | | | | 控股股东、实际控制 | - | - | - | - | - | - | - | - | - | - | | 人及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前控股股东、实际控 | - | - | - | - | - | - | - | - | - | - | | 制人及其附属企业 | | | | | | | | | | | | 小计 ...

证券代码：300897 证券简称：山科智能 公告编号：2025-054 杭州山科智能科技股份有限公司 关于 2025 年半年度募集资金存放与使用情况的专项报告 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 本公司经中国证券监督管理委员会证监许可[2020]2123 号核准，由主承销 商通过贵所系统采用主承销商余额包销方式，向社会公开发行了人民币普通股(A 股)股票 1,700 万股，发行价为每股人民币 33.46 元，共计募集资金总额为人民 币 56,882.00 万元，扣除券商承销佣金及保荐费 3,945.04 万元后，主承销商于 2020 年 9 月 22 日汇入本公司募集资金监管账户招行杭州解放支行账户(账号为： 571912207110401)人民币 19,000.00 万元、宁波银行杭州分行账户(账号为： 71010122002049867)人民币 2,000.00 万元、中信银行杭州玉泉支行账户(账号为： 8110801013502057930)人民币 3,100.00 万元、招行杭州高新 ...

杭州山科智能科技股份有限公司（以下简称"公司"）第四届监事会第七次 会议通知于2025年8月18日以电话、微信及邮件等方式送达全体监事。 证券代码：300897 证券简称：山科智能 公告编号：2025-053 杭州山科智能科技股份有限公司 第四届监事会第七次会议决议的公告 公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、监事会会议召开情况 1、会议通知时间与方式 具体内容详见巨潮资讯网（www.cninfo.com.cn）披露的相关公告。 表决结果：有效表决票3票，同意3票，反对0票，弃权0票。 2、会议召开的时间、地点和方式 （1）会议时间:2025年8月25日上午10:30 本次会议的召集和召开符合《中华人民共和国公司法》和《公司章程》等有 关规定，所作的决议合法有效。 二、监事会会议审议情况 经与会监事审议，以投票表决方式通过了所有议案并形成以下决议： （一）审议通过《关于公司2025年半年度报告及其摘要的议案》。 经审核，监事会认为董事会编制和审议公司2025年半年度报告的程序符合法 （2）召开地点：山科智慧园B座10楼大会议室 （3）召开方式：以现 ...

证券代码：300897 证券简称：山科智能 公告编号：2025-052 杭州山科智能科技股份有限公司 第四届董事会第九次会议决议的公告 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1、会议通知时间与方式 杭州山科智能科技股份有限公司（以下简称"公司"）第四届董事会第九次 会议通知于2025年8月18日以电话及邮件等方式送达全体董事。 2、会议召开的时间、地点和方式 （1）会议时间:2025 年 8 月 25 日上午 9:30 （5）主持人：董事长钱炳炯先生 本次会议的召集和召开符合《中华人民共和国公司法》和《公司章程》等有 关规定，所作的决议合法有效。 二、董事会会议审议情况 经与会董事审议，以投票表决方式通过了全部议案并形成以下决议： （一）审议通过《关于公司 2025 年半年度报告及其摘要的议案》； 公司根据《中华人民共和国证券法》《公开发行证券的公司信息披露内容与 格式准则第 3 号——半年度报告的内容与格式》《深圳证券交易所创业板股票上 1 杭州山科智能科技股份有限公司 董事会 2025年8月27日 （2）召开地点：山科智慧园 ...

Section I Important Notice, Table of Contents, and Definitions [Important Notice](index=2&type=section&id=Important%20Notice) The Board, Supervisory Board, and senior management guarantee report accuracy and completeness; the company plans no cash dividends or share transfers from capital reserves - The company's Board of Directors, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness[5](index=5&type=chunk) - The company's responsible person, head of accounting, and head of accounting department declare the financial report is true, accurate, and complete[5](index=5&type=chunk) - Development strategies and forward-looking statements in this report do not constitute substantial commitments to investors, who should be aware of the associated risks[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) [Catalogue of Reference Documents](index=4&type=section&id=Catalogue%20of%20Reference%20Documents) This section lists the company's reference documents for the reporting period, including signed financial statements, publicly disclosed company filings, and the original semi-annual report signed by the legal representative - Reference documents include financial statements signed and sealed by the company's responsible person, head of accounting, and head of accounting department[11](index=11&type=chunk) - Reference documents also include originals of all company filings and announcements publicly disclosed on the China Securities Regulatory Commission's designated website, Juchao Information Network, during the reporting period[12](index=12&type=chunk) - The original 2025 semi-annual report signed by Mr. Qian Bingjiong, the company's legal representative, is also listed as a reference document[13](index=13&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines common terms used in the report, covering company names, reporting periods, currency units, and specialized industry concepts like smart water meters and smart water management, ensuring accurate understanding - **Company**, **this Company**, and **Shanke Smart** all refer to Hangzhou Shanke Smart Technology Co., Ltd[16](index=16&type=chunk) - **Reporting Period** refers to January-June 2025, and **Prior Year Period** refers to January-June 2024[16](index=16&type=chunk) - **Smart Water Meter** is defined as a new type of water meter that uses modern microelectronics, sensing, and IC card technology to measure water consumption and transmit billing data[16](index=16&type=chunk) - **Smart Water Management** is defined as an integrated solution for sensing, IoT, information integration analysis, and intelligent decision-making execution in the water sector[16](index=16&type=chunk) Section II Company Profile and Key Financial Indicators [Company Profile](index=6&type=section&id=Company%20Profile) Hangzhou Shanke Smart Technology Co., Ltd. (stock code: 300897, stock abbreviation: Shanke Smart) is listed on the Shenzhen Stock Exchange, with Qian Bingjiong as its legal representative - The company's stock abbreviation is "**Shanke Smart**", stock code "**300897**", listed on the Shenzhen Stock Exchange[18](index=18&type=chunk) - The company's legal representative is **Qian Bingjiong**[18](index=18&type=chunk) - During the reporting period, there were no changes in the company's registered address, office address, website, email, information disclosure and placement locations, or registration status[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) This period's key financial indicators show significant year-on-year declines in operating revenue and net profit attributable to shareholders, while operating cash flow improved, and total assets and net assets slightly decreased Key Accounting Data and Financial Indicators for This Reporting Period | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 236,086,432.42 | 332,312,602.42 | -28.96% | | Net Profit Attributable to Shareholders of Listed Company | 21,413,117.88 | 41,466,970.83 | -48.36% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | 18,419,386.27 | 37,432,142.09 | -50.79% | | Net Cash Flow from Operating Activities | -21,890,627.35 | -44,543,859.24 | 50.86% | | Basic Earnings Per Share (CNY/share) | 0.15 | 0.30 | -50.00% | | Diluted Earnings Per Share (CNY/share) | 0.15 | 0.30 | -50.00% | | Weighted Average Return on Net Assets | 2.16% | 4.15% | -1.99% | | **Period-end Indicators** | **Current Period-end (CNY)** | **Prior Year-end (CNY)** | **Change from Prior Year-end** | | Total Assets | 1,206,612,058.38 | 1,291,960,145.91 | -6.61% | | Net Assets Attributable to Shareholders of Listed Company | 976,092,310.91 | 984,479,066.63 | -0.85% | - The company's financial reports for the period show no differences in net profit and net assets between International Accounting Standards and Chinese Accounting Standards[24](index=24&type=chunk)[25](index=25&type=chunk) [Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This period's total non-recurring gains and losses amounted to **CNY 2,993,731.61**, primarily from government grants, entrusted investment gains, and other non-operating income and expenses Non-recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | Description | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -53,440.09 | | | Government Grants Recognized in Current Period Profit/Loss | 3,167,850.00 | Government grants | | Gains and Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | -6,509.82 | Wealth management income | | Gains and Losses from Entrusted Investment or Asset Management | 168,719.14 | | | Other Non-operating Income and Expenses Apart from the Above | 112,818.17 | | | Other Profit/Loss Items Meeting the Definition of Non-recurring Gains and Losses | 60,333.15 | Individual income tax handling fees | | Less: Income Tax Impact | 455,825.25 | | | Minority Interest Impact (After Tax) | 213.69 | | | Total | 2,993,731.61 | | Items Classified as Recurring Gains and Losses | Item | Amount Involved (CNY) | Reason | | :--- | :--- | :--- | | Government Grants Recognized in Current Period Profit/Loss | 5,652,441.58 | VAT refund | Section III Management Discussion and Analysis [Company's Main Business Activities During the Reporting Period](index=9&type=section&id=Company%27s%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) Guided by national development plans, the company focuses on smart water metering and network detection, exploring AI applications in water management to offer integrated, scalable smart water solutions, driven by policy, industry trends, innovation, and service - The company is guided by national development plans, focusing on the "**Industrial Internet + Smart Sensors and Software + Artificial Intelligence**" technology roadmap, committed to energy conservation and emission reduction, and AI smart applications in water scenarios[31](index=31&type=chunk) - The company's product system covers **smart remote water meters**, **smart water network intelligent products**, **smart software integration products**, **smart water conservancy**, and **smart direct drinking water**, providing integrated water information management solutions[34](index=34&type=chunk) - The company's performance drivers include policy guidance, the penetration of new-generation information technologies like IoT and big data in the water industry, continuous technological innovation, and high-quality customer service[70](index=70&type=chunk)[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) [Main Business](index=9&type=section&id=Main%20Business) Guided by national strategies, the company specializes in smart water metering and network detection, leveraging "Industrial Internet + Smart Sensors + AI" to develop smart water management products and solutions - The company's business is guided by national development plans, focusing on **smart water meter metering** and **pipeline network detection technology**[31](index=31&type=chunk) - The company's technology roadmap is "**Industrial Internet + Smart Sensors and Software + Artificial Intelligence**", actively exploring AI applications in water scenarios[31](index=31&type=chunk) - The company is committed to **energy conservation and emission reduction**, meeting the needs of water utilities in safe operation, energy saving, efficiency improvement, and public service[31](index=31&type=chunk) [Main Products and Uses](index=9&type=section&id=Main%20Products%20and%20Uses) The company's product portfolio includes smart remote water meters, smart water network products, integrated software, smart water conservancy, and smart direct drinking solutions, leveraging IoT, big data, and AI for intelligent water management - The company's main product system includes **smart remote water meters**, **smart water network intelligent products**, **smart software integration products**, **smart water conservancy**, and **smart direct drinking water**[34](index=34&type=chunk) - **Smart remote water meters** solve the challenge of in-home meter reading, improve reading efficiency, reduce leakage rates, and identify abnormal water usage patterns[35](index=35&type=chunk) - **Smart water network intelligent products** include real-time monitoring and dispatch systems for water supply meters, water supply network leakage detection systems, large-diameter electronic meters, and electromagnetic water meters/flowmeters, used for network data collection, leakage detection, and flow monitoring[37](index=37&type=chunk)[38](index=38&type=chunk)[41](index=41&type=chunk)[43](index=43&type=chunk)[45](index=45&type=chunk) - **Smart software integration products** include the smart water metering cloud platform, leakage control system, intelligent hydraulic model for water supply, smart water plant platform, and smart water home management system, achieving full-process digital management and intelligent decision-making in water affairs[48](index=48&type=chunk)[49](index=49&type=chunk)[52](index=52&type=chunk)[54](index=54&type=chunk)[56](index=56&type=chunk)[58](index=58&type=chunk) - **Smart water conservancy integrated products** provide informatization and system integration services for water disasters, resources, environment, and ecology, building a forecast, early warning, simulation, and emergency plan platform based on AI tools and digital twin technology[60](index=60&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk)[65](index=65&type=chunk)[67](index=67&type=chunk) [Company Performance Drivers](index=20&type=section&id=Company%20Performance%20Drivers) The company's performance growth is primarily driven by national smart and digital construction policies, deep penetration of new-generation information technologies in the water industry, continuous technological innovation, and enhanced market competitiveness through flexible customization and comprehensive after-sales service - **National policies** continue to favor the development of smart water management and smart water conservancy industries, providing broad market opportunities[70](index=70&type=chunk) - New-generation information technologies such as **IoT, cloud computing, and big data** drive the rapid development of smart water management products, assisting water utilities in their informationization upgrade[71](index=71&type=chunk) - The company adheres to **technological innovation**, with R&D investment ranking among the top in the industry, promoting product iteration and upgrading, and consolidating core competitiveness[72](index=72&type=chunk) - The company secures customer recognition and stable performance through highly focused industry experience, **flexible product customization**, and comprehensive after-sales service[74](index=74&type=chunk) [Core Competitiveness Analysis](index=21&type=section&id=Core%20Competitiveness%20Analysis) The company's core competitiveness spans eight areas, including R&D, product innovation, quality management, smart manufacturing, brand influence, enterprise management, and comprehensive after-sales service, supported by significant R&D investment, leading technologies, and a strong market presence - The company emphasizes **technological innovation**, with R&D investment ranking among the top in the industry, possessing leading core technologies such as image recognition-based meter reading electromechanical conversion and thick-film resistor technology, and has obtained **93 patents** and **127 software copyrights** as of the end of the reporting period[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk) - The company's **product innovation advantage** is reflected in demand forecasting models, intelligent pressure regulation models, intelligent dosing algorithms, and floc visual monitoring models for smart water plant upgrades, as well as acoustic fingerprint recognition pipeline leakage monitoring systems in leakage prevention and control, achieving a technological revolution from "passive disposal" to "active prevention"[79](index=79&type=chunk) - The company has established a comprehensive **quality management system**, obtaining multiple certifications including ISO9001, ISO10012, ISO14001, and ISO45001, and utilizes the PLM system for visualized, standardized, and traceable product lifecycle management[81](index=81&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk) - The company has introduced multiple **flexible intelligent production lines** and MES systems, achieving smart manufacturing processes such as automated identification, welding, feeding, labeling, and marking, significantly improving production efficiency and product stability[84](index=84&type=chunk)[87](index=87&type=chunk) - The company's **brand influence** is significant, recognized as a "High-tech Enterprise" and "National Specialized, Refined, and New 'Little Giant' Enterprise", with products selected for the "Zhejiang Manufacturing Fine Products" list, establishing a strong reputation for quality and brand image domestically[92](index=92&type=chunk) - The company possesses an **experienced, efficient, and stable management team**, driving high-efficiency operations through a combination of strict systems and flexible incentive mechanisms[93](index=93&type=chunk) - The company has established a **comprehensive, all-time, and full-process after-sales service system**, obtaining the "After-sales Service Completeness Certification (Twelve Stars)", and setting up dedicated maintenance funds to ensure timely and satisfactory service[94](index=94&type=chunk) - The company boasts nearly a thousand **high-quality customer resources**, primarily water utilities, and has established a comprehensive sales network and service management system with marketing and after-sales service points across the country[96](index=96&type=chunk) [Main Business Analysis](index=26&type=section&id=Main%20Business%20Analysis) This period, the company's main business revenue decreased by **28.96%** year-on-year, with operating costs falling by **31.64%**; smart remote water meters remain the primary revenue source despite declines, while smart water network equipment revenue dropped by **52.41%** with improved gross margin Year-on-Year Changes in Key Financial Data | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 236,086,432.42 | 332,312,602.42 | -28.96% | | | Operating Cost | 139,383,066.89 | 203,893,037.87 | -31.64% | Mainly due to a decrease in revenue | | Selling Expenses | 39,189,319.21 | 41,172,842.43 | -4.82% | | | Administrative Expenses | 18,146,636.67 | 18,212,568.84 | -0.36% | | | Financial Expenses | -303,303.56 | 17,920.96 | -1,792.45% | Mainly due to a decrease in unrecognized financing expenses in this reporting period | | Income Tax Expense | 879,597.27 | 3,512,298.24 | -74.96% | Mainly due to a decrease in total profit in this reporting period | | R&D Investment | 22,653,449.88 | 29,668,423.83 | -23.64% | | | Net Cash Flow from Operating Activities | -21,890,627.35 | -44,543,859.24 | 50.86% | Mainly due to a decrease in cash paid for goods purchased and services received in this reporting period | | Net Cash Flow from Investing Activities | 6,116,506.06 | 43,530,804.10 | -85.95% | Mainly due to a decrease in cash recovered from matured wealth management products in this reporting period | | Net Cash Flow from Financing Activities | -36,855,100.67 | -13,323,834.96 | -176.61% | Mainly due to a decrease in matured bank acceptance bill deposits received in this reporting period | | Net Increase in Cash and Cash Equivalents | -52,629,221.96 | -14,336,890.10 | -267.09% | Mainly due to a decrease in cash recovered from matured wealth management products in this reporting period | Products or Services Accounting for Over 10% | Product or Service | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Smart Remote Water Meters and Measuring Sensors | 186,795,040.73 | 117,650,339.30 | 37.02% | -22.91% | -22.54% | -0.30% | | Smart Water Network Equipment | 22,173,386.43 | 8,848,342.04 | 60.09% | -52.41% | -57.37% | 4.64% | - The company's profit structure or sources of profit did not undergo significant changes during the reporting period[98](index=98&type=chunk) [Non-Core Business Analysis](index=27&type=section&id=Non-Core%20Business%20Analysis) Non-core business had a minor impact on total profit this period, with investment income from equity-method long-term investments, fair value changes from estimated unrealized wealth management gains, and asset impairment from contract asset provisions Non-Core Business Analysis | Item | Amount (CNY) | Proportion of Total Profit | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 483,103.08 | 2.22% | Mainly investment income from long-term equity investments accounted for by the equity method | Yes | | Gains and Losses from Fair Value Changes | -6,509.82 | -0.03% | Mainly estimated unrealized wealth management gains during the reporting period | Yes | | Asset Impairment | -325,892.32 | -1.50% | Mainly provision for impairment of contract assets | Yes | | Non-operating Income | 137,978.00 | 0.63% | Mainly income from breach of contract for leased properties | No | | Non-operating Expenses | 25,314.89 | 0.12% | Mainly donation expenses | No | [Analysis of Assets and Liabilities](index=27&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) At period-end, total assets and net assets attributable to shareholders decreased; key asset items remained stable, while short-term borrowings, notes payable, and accounts payable declined Significant Changes in Asset Composition (Current Period-end vs. Prior Year-end) | Item | Current Period-end Amount (CNY) | Proportion of Total Assets | Prior Year-end Amount (CNY) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 110,853,961.27 | 9.19% | 162,627,309.79 | 12.59% | -3.40% | | Accounts Receivable | 390,763,740.12 | 32.39% | 410,176,539.81 | 31.75% | 0.64% | | Contract Assets | 101,696,590.07 | 8.43% | 95,504,636.08 | 7.39% | 1.04% | | Inventories | 178,300,904.37 | 14.78% | 176,070,616.72 | 13.63% | 1.15% | | Investment Properties | 124,304,345.78 | 10.30% | 124,018,881.49 | 9.60% | 0.70% | | Long-term Equity Investments | 31,158,150.42 | 2.58% | 30,193,766.48 | 2.34% | 0.24% | | Fixed Assets | 185,756,217.04 | 15.39% | 192,570,117.81 | 14.91% | 0.48% | | Construction in Progress | 7,316,642.29 | 0.61% | 4,934,950.89 | 0.38% | 0.23% | | Short-term Borrowings | 0.00 | 0.00% | 6,352,864.19 | 0.49% | -0.49% | | Contract Liabilities | 18,874,640.81 | 1.56% | 22,028,366.97 | 1.71% | -0.15% | Assets and Liabilities Measured at Fair Value (Period-end) | Item | Beginning Balance (CNY) | Gains and Losses from Fair Value Changes in Current Period (CNY) | Amount Purchased in Current Period (CNY) | Amount Sold in Current Period (CNY) | Ending Balance (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Financial Assets Held for Trading | 15,053,625.00 | -53,625.00 | 54,000,000.00 | 69,000,000.00 | 0.00 | | Other Non-current Financial Assets | 3,251,264.43 | -70,732.03 | 0.00 | 0.00 | 3,180,532.40 | | Receivables Financing | 11,290,170.21 | 0.00 | 0.00 | 7,199,385.63 | 4,090,784.58 | | Total | 29,595,059.64 | -7,323,742.66 | 54,000,000.00 | 69,000,000.00 | 7,271,316.98 | Asset Restrictions as of the End of the Reporting Period | Item | Ending Balance (CNY) | Beginning Balance (CNY) | Reason for Restriction | | :--- | :--- | :--- | :--- | | Bank Guarantee Deposits | 5,024,584.29 | 4,145,828.13 | Issuance of performance and quality guarantees | | Bank Acceptance Bill Deposits | 0.00 | 22,882.72 | Issuance of bank acceptance bills | | Total | 5,024,584.29 | 4,168,710.85 | | [Investment Analysis](index=29&type=section&id=Investment%20Analysis) This period, the company's investment increased by **225.00%** year-on-year, primarily in fair value financial assets, with IPO net proceeds of **CNY 508.71 million** and **CNY 202.71 million** in over-raised funds, some of which were used to supplement working capital Investment Amount During the Reporting Period | Indicator | Investment Amount in Current Period (CNY) | Investment Amount in Prior Year Period (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | Investment Amount | 650,000.00 | 200,000.00 | 225.00% | Financial Assets Measured at Fair Value | Asset Category | Initial Investment Cost (CNY) | Amount Purchased in Current Period (CNY) | Amount Sold in Current Period (CNY) | Ending Balance (CNY) | Source of Funds | | :--- | :--- | :--- | :--- | :--- | :--- | | Other | 29,595,059.64 | 54,000,000.00 | 69,000,000.00 | 7,271,316.98 | Raised Funds & Own Funds | | Total | 29,595,059.64 | 54,000,000.00 | 69,000,000.00 | 7,271,316.98 | -- | - The company's net proceeds from its initial public offering were **CNY 508.71 million**, including **CNY 202.71 million** in over-raised funds[113](index=113&type=chunk) - Some fund-raising projects have been completed, and the remaining raised funds have been permanently used to supplement working capital for the company's daily operations and business development[113](index=113&type=chunk)[114](index=114&type=chunk) Overview of Entrusted Wealth Management During the Reporting Period | Specific Type | Source of Entrusted Wealth Management Funds | Amount of Entrusted Wealth Management (CNY 10,000) | Unmatured Balance (CNY 10,000) | Overdue Unrecovered Amount (CNY 10,000) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 4,000 | 0 | 0 | | Brokerage Wealth Management Products | Raised Funds | 1,700 | 0 | 0 | | Total | | 5,700 | 0 | 0 | [Disposal of Major Assets and Equity](index=31&type=section&id=Disposal%20of%20Major%20Assets%20and%20Equity) During the reporting period, the company did not engage in any significant disposals of assets or equity - The company did not dispose of any major assets during the reporting period[119](index=119&type=chunk) - The company did not dispose of any major equity during the reporting period[120](index=120&type=chunk) [Analysis of Major Controlled and Invested Companies](index=31&type=section&id=Analysis%20of%20Major%20Controlled%20and%20Invested%20Companies) The company controls six subsidiaries, including Jiaxing Shanke and Ningbo Shanke, whose main businesses span smart water meter R&D, park management, smart water platform software, and smart direct drinking water, all contributing to revenue and net profit Overview of Major Subsidiaries | Company Name | Company Type | Main Business | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiaxing Shanke Electronic Technology Development Co., Ltd. | Subsidiary | R&D and production of smart water meters and sensors | 500,000 | 28,136,397.80 | 26,286,453.17 | 4,694,968.20 | 787,759.37 | 787,762.99 | | Ningbo Shanke Electronic Technology Co., Ltd. | Subsidiary | R&D and production of smart water meters and sensors | 2,000,000 | 21,698,686.28 | 13,360,742.42 | 12,425,171.37 | 125,288.52 | 93,828.35 | | Hangzhou Shanke Electronic Technology Co., Ltd. | Subsidiary | R&D and production of smart water meters and sensors | 100,000,000 | 312,706,535.45 | 240,312,080.92 | 100,595,305.10 | 7,406,210.93 | 6,926,560.76 | | Hangzhou Shanke Park Management Co., Ltd. | Subsidiary | Park management services; non-residential real estate leasing | 2,000,000 | 15,609,224.50 | 7,744,828.43 | 8,625,151.21 | 2,072,146.31 | 2,098,391.18 | | Hangzhou Shanhaichain Smart Technology Co., Ltd. | Subsidiary | R&D and sales of smart water management platform software | 5,000,000 | 1,431,200.32 | 859,678.07 | 0.00 | -161,212.20 | -169,464.75 | | Quanxinquanyi (Hangzhou) Technology Co., Ltd. | Subsidiary | R&D, sales, and operation of smart direct drinking water | 2,100,000 | 1,195,813.94 | 295,873.80 | 0.00 | -1,206,455.40 | -1,206,453.82 | - The company neither acquired nor disposed of any subsidiaries during the reporting period[122](index=122&type=chunk) [Structured Entities Controlled by the Company](index=32&type=section&id=Structured%20Entities%20Controlled%20by%20the%20Company) During the reporting period, the company did not control any structured entities - The company did not control any structured entities during the reporting period[123](index=123&type=chunk) [Risks Faced by the Company and Countermeasures](index=32&type=section&id=Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks including technology, talent, accounts receivable, investment, raw material costs, and large inventory, which it addresses through continuous R&D, talent management, strengthened receivables, sustainable investment planning, supply chain optimization, and inventory control - The company faces **technology and innovation risks**, with countermeasures including continuous investment in new technology and product R&D, optimizing R&D processes, and strengthening talent cultivation and recruitment[123](index=123&type=chunk) - The company faces **technical risks due to talent shortage or loss**, with countermeasures including actively promoting talent strategies, intensifying efforts to attract talent, and improving talent introduction mechanisms and training programs[124](index=124&type=chunk)[125](index=125&type=chunk) - The company faces the **risk of bad debts from accounts receivable**, with countermeasures including strengthening reconciliation and collection efforts, implementing sales collection assessment and incentive mechanisms, and promptly reporting long-aged accounts receivable to the legal department for collection[126](index=126&type=chunk) - The company faces **investment risks**, with countermeasures including formulating investment plans aligned with sustainable development, strengthening pre- and post-investment management, and avoiding blind investments[127](index=127&type=chunk) - The company faces **raw material cost fluctuation risks**, with countermeasures including increasing R&D investment, optimizing the raw material supply chain, closely monitoring market prices, expanding procurement channels, and enhancing bargaining power[128](index=128&type=chunk)[129](index=129&type=chunk) - The company faces the **risk of large inventory scale**, with countermeasures including establishing a dedicated department to manage goods issued, promptly urging confirmation receipts, regularly confirming with customers via correspondence, analyzing reasons for unconfirmed revenue, and reducing inventory risk[130](index=130&type=chunk) [Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=34&type=section&id=Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) On May 6, 2025, the company participated in the 2024 online performance briefing via the Shenzhen Stock Exchange's "Interactive Easy" platform, engaging with investors, with details disclosed on Juchao Information Network - On **May 6, 2025**, the company participated in the **2024 online performance briefing** via the Shenzhen Stock Exchange's "**Interactive Easy**" platform[131](index=131&type=chunk) - This activity conveyed the company's development strategy, business philosophy, and long-term investment value to investors[135](index=135&type=chunk) - Relevant activity records have been disclosed on Juchao Information Network[131](index=131&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=34&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[132](index=132&type=chunk) - The company has not disclosed a valuation enhancement plan[132](index=132&type=chunk) [Implementation of 'Quality and Return Dual Enhancement' Action Plan](index=34&type=section&id=Implementation%20of%20%27Quality%20and%20Return%20Dual%20Enhancement%27%20Action%20Plan) The company has disclosed its "Quality and Return Dual Enhancement" action plan, aiming to protect shareholder interests and promote sustainable development through investor returns, a stable dividend policy, compliant disclosure, and continuous investor relations management - The company has disclosed the "Announcement on the 'Quality and Return Dual Enhancement' Action Plan" and its progress announcements, aiming to safeguard the interests of all shareholders and promote the company's long-term healthy and sustainable development[133](index=133&type=chunk) - The company implemented its 2024 annual profit distribution plan, distributing a cash dividend of **CNY 3 (tax inclusive)** per 10 shares to all shareholders, and converting **4 shares** from capital reserves per 10 shares[134](index=134&type=chunk) - The company continuously manages investor relations through various channels, including listed company announcements, investor communication meetings, performance briefings, investor email and telephone hotlines, and the Shenzhen Stock Exchange's "**Interactive Easy**" platform[135](index=135&type=chunk) Section IV Corporate Governance, Environment, and Society [Changes in Directors, Supervisors, and Senior Management](index=36&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there were changes in the company's directors, supervisors, and senior management, with Zeng Jia resigning as independent director, Zhou Changle elected as independent director, and Xu Ming dismissed as deputy general manager Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Zeng Jia | Independent Director | Resignation | April 18, 2025 | Personal reasons | | Zhou Changle | Independent Director | Elected | April 18, 2025 | Job transfer | | Xu Ming | Deputy General Manager | Dismissal | April 01, 2025 | Job transfer | [Profit Distribution and Capital Reserve to Share Capital Conversion in This Reporting Period](index=36&type=section&id=Profit%20Distribution%20and%20Capital%20Reserve%20to%20Share%20Capital%20Conversion%20in%20This%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital reserve to share capital conversions 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[138](index=138&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=36&type=section&id=Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) During the reporting period, the company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[139](index=139&type=chunk) [Environmental Information Disclosure](index=36&type=section&id=Environmental%20Information%20Disclosure) 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[140](index=140&type=chunk) [Social Responsibility](index=36&type=section&id=Social%20Responsibility) Guided by national plans, the company promotes energy conservation and AI in water management through smart water products, practices green production, enhances corporate governance and investor relations, and upholds employee rights while engaging in public welfare - The company is guided by national development plans, committed to **energy conservation and emission reduction**, actively exploring AI smart applications in water scenarios, and providing smart water management products[140](index=140&type=chunk) - The company's smart water management product series assists in **water resource management**, achieving precise metering, remote meter reading, and leakage control, contributing to ecological environment purification, green development, and the construction of a resource-saving society[141](index=141&type=chunk)[142](index=142&type=chunk) - The company implements **green production and green operation concepts**, establishes a comprehensive environmental management system, and its subsidiary, Hangzhou Shanke Electronic Technology Co., Ltd., has been recognized as a **Hangzhou Green Low-Carbon Factory**[143](index=143&type=chunk) - The company strictly adheres to laws and regulations to improve its **corporate governance structure**, establishing sound internal management and control systems, forming a "three meetings" corporate governance structure comprising the General Meeting of Shareholders, Board of Directors, and Supervisory Board[144](index=144&type=chunk) - The company highly values **investor relations management**, actively communicating with investors through various channels, disclosing company strategies and operational status, and enhancing corporate governance transparency[145](index=145&type=chunk) - Adhering to the core values of "**respecting talent and dedicated service**", the company fosters mutual growth between employees and the enterprise through internal training, external recruitment, optimizing compensation systems, safeguarding employee rights, and conducting employee care and training initiatives[147](index=147&type=chunk) - The company has long spontaneously organized the "**Beautiful Hangzhou, Starting with Me**" public welfare activity, promoting new moral trends, advocating positive social energy, and contributing to environmental protection[148](index=148&type=chunk) Section V Significant Matters [Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During the Reporting Period](index=39&type=section&id=Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20the%20Reporting%20Period) During the reporting period, the company's controlling shareholders, shareholders, and directors, supervisors, and senior management fulfilled all commitments made during IPO or refinancing, with no overdue unfulfilled commitments at period-end - The share reduction commitments of the company's actual controllers Qian Bingjiong, Cen Tengyun, Ji Yongcong, Wang Xuezho, Hu Shaoshui, and their controlled entities Hangzhou Shengjie Investment Management Partnership (Limited Partnership) and Hangzhou Shengying Investment Management Partnership (Limited Partnership) are being fulfilled normally, with the commitment period extending to **September 27, 2025**[150](index=150&type=chunk) - The concerted action agreement signed by the company's actual controllers Qian Bingjiong, Cen Tengyun, Ji Yongcong, Wang Xuezho, and Hu Shaoshui is being fulfilled normally and remains valid long-term[151](index=151&type=chunk) - The company's profit distribution policy commitment is being fulfilled normally and remains valid long-term[152](index=152&type=chunk)[153](index=153&type=chunk)[154](index=154&type=chunk) - The company and its actual controllers' commitment regarding the repurchase of shares due to fraudulent issuance is being fulfilled normally and remains valid long-term[159](index=159&type=chunk)[160](index=160&type=chunk) - The actual controllers' commitments regarding **non-compete** and **related-party transactions** are being fulfilled normally and remain valid long-term[155](index=155&type=chunk)[156](index=156&type=chunk)[157](index=157&type=chunk) - The commitments of the company's directors and senior management regarding measures to mitigate the dilution of immediate returns are being fulfilled normally and remain valid long-term[157](index=157&type=chunk)[158](index=158&type=chunk) - During the reporting period, the company had no overdue unfulfilled commitments[164](index=164&type=chunk) [Non-Operating Funds Occupied by Controlling Shareholders and Other Related Parties from the Listed Company](index=54&type=section&id=Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) During the reporting period, there were no instances of non-operating funds being occupied by controlling shareholders or other related parties from the listed company - During the reporting period, there were no instances of non-operating funds being occupied by controlling shareholders or other related parties from the listed company[165](index=165&type=chunk) [Illegal External Guarantees](index=54&type=section&id=Illegal%20External%20Guarantees) During the reporting period, the company had no illegal external guarantees - The company had no illegal external guarantees during the reporting period[166](index=166&type=chunk) [Appointment and Dismissal of Accounting Firms](index=54&type=section&id=Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual financial report was not audited - The company's semi-annual report was not audited[167](index=167&type=chunk) [Explanation by the Board of Directors, Supervisory Board, and Audit Committee on the 'Non-Standard Audit Report' for This Period](index=54&type=section&id=Explanation%20by%20the%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Audit%20Committee%20on%20the%20%27Non-Standard%20Audit%20Report%27%20for%20This%20Period) Not applicable, as the company's semi-annual report was not audited [Explanation by the Board of Directors on the 'Non-Standard Audit Report' for the Prior Year](index=54&type=section&id=Explanation%20by%20the%20Board%20of%20Directors%20on%20the%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Prior%20Year) Not applicable, as the company's semi-annual report was not audited [Bankruptcy and Reorganization Matters](index=54&type=section&id=Bankruptcy%20and%20Reorganization%20Matters) During the reporting period, the company had no bankruptcy or reorganization matters - The company had no bankruptcy or reorganization matters during the reporting period[168](index=168&type=chunk) [Litigation Matters](index=54&type=section&id=Litigation%20Matters) The company had no significant litigation or arbitration matters during this reporting period - The company had no significant litigation or arbitration matters during this reporting period[169](index=169&type=chunk) [Penalties and Rectification](index=54&type=section&id=Penalties%20and%20Rectification) During the reporting period, the company had no penalties or rectification situations - The company had no penalties or rectification situations during the reporting period[169](index=169&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=54&type=section&id=Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) During the reporting period, the company, its controlling shareholder, and actual controller maintained good integrity, with no outstanding overdue debts - During the reporting period, the company, its controlling shareholder, and actual controller maintained good integrity, with no unfulfilled effective court judgments or significant overdue debts[170](index=170&type=chunk) [Significant Related-Party Transactions](index=55&type=section&id=Significant%20Related-Party%20Transactions) During the reporting period, the company had no significant related-party transactions, including those related to daily operations, asset/equity acquisitions/disposals, joint external investments, or related-party debt, nor any financial dealings with affiliated finance companies - The company had no related-party transactions related to daily operations during the reporting period[171](index=171&type=chunk) - The company had no related-party transactions involving asset or equity acquisitions or disposals during the reporting period[172](index=172&type=chunk) - There were no related-party creditor-debtor transactions during the reporting period[174](index=174&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company and affiliated finance companies, or between the company's controlled finance companies and related parties[175](index=175&type=chunk)[176](index=176&type=chunk) - The company had no other significant related-party transactions during the reporting period[177](index=177&type=chunk) [Significant Contracts and Their Performance](index=55&type=section&id=Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company had no trusteeship or contracting arrangements, and its routine property leases for operations and marketing network expansion did not significantly impact profit - The company had no trusteeship situations during the reporting period[178](index=178&type=chunk) - The company had no contracting situations during the reporting period[180](index=180&type=chunk) - During the reporting period, the company's leasing activities primarily involved office, production, and storage facilities for its subsidiaries' daily operations, as well as property leases for national marketing network expansion, which did not have a significant impact on the company's profit for the period[181](index=181&type=chunk) - The company had no significant guarantee situations during the reporting period[182](index=182&type=chunk) - The company had no other significant contracts during the reporting period[184](index=184&type=chunk) [Explanation of Other Significant Matters](index=56&type=section&id=Explanation%20of%20Other%20Significant%20Matters) During the reporting period, the company had no other significant matters requiring explanation - The company had no other significant matters requiring explanation during the reporting period[185](index=185&type=chunk) [Significant Matters of Company Subsidiaries](index=56&type=section&id=Significant%20Matters%20of%20Company%20Subsidiaries) During the reporting period, the company's subsidiaries had no significant matters - The company's subsidiaries had no significant matters during the reporting period[186](index=186&type=chunk) Section VI Share Changes and Shareholder Information [Share Change Status](index=57&type=section&id=Share%20Change%20Status) At period-end, the company's total share capital increased to **140,219,804 shares** due to the 2024 annual equity distribution, with both restricted and unrestricted shares increasing, and **1,153,728 shares** successfully repurchased Share Change Status | Item | Number Before This Change (shares) | Proportion Before This Change | Capital Reserve to Shares (shares) | Other (shares) | Subtotal (shares) | Number After This Change (shares) | Proportion After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 37,544,410 | 37.36% | 15,017,763 | 237,763 | 15,255,526 | 52,799,936 | 37.66% | | II. Unrestricted Shares | 62,942,230 | 62.64% | 24,715,401 | -237,763 | 24,477,638 | 87,419,868 | 62.34% | | III. Total Shares | 100,486,640 | 100.00% | 39,733,164 | 0 | 39,733,164 | 140,219,804 | 100.00% | - On **June 16, 2025**, the company completed the implementation of its **2024 annual equity distribution**, including a cash dividend of **CNY 3 (tax inclusive)** per 10 shares and a conversion of **4 shares** from capital reserves per 10 shares[190](index=190&type=chunk) - The company has repurchased **1,153,728 shares** for employee stock ownership plans or equity incentives[191](index=191&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Released in Current Period | Restricted Shares Increased in Current Period | Restricted Shares at End of Period | Reason for Restriction | Planned Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qian Bingjiong | 11,159,084 | 0 | 4,463,635 | 15,622,719 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2023 | | Cen Tengyun | 8,588,547 | 0 | 3,435,417 | 12,023,964 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2023 | | Ji Yongcong | 7,246,573 | 0 | 2,898,629 | 10,145,202 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2023 | | Wang Xuezho | 6,499,385 | 0 | 2,599,754 | 9,099,139 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2023 | | Hu Shaoshui | 3,076,516 | 0 | 1,230,606 | 4,307,122 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2023 | | Xu Ming | 509,490 | 0 | 441,558 | 951,048 | Shares held by them shall not be transferred within six months after resignation; concurrently, shares transferred within six months after the expiration of their original term shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2021 | | Dong Liujun | 339,326 | 0 | 135,730 | 475,056 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2021 | | Zhou Qin | 125,489 | 0 | 50,197 | 175,686 | During their tenure, the number of shares transferred annually shall not exceed 25% of the total shares directly or indirectly held by them | Released on September 28, 2021 | | Total | 37,544,410 | 0 | 15,255,526 | 52,799,936 | | | [Securities Issuance and Listing](index=60&type=section&id=Securities%20Issuance%20and%20Listing) During the reporting period, the company had no securities issuance or listing activities [Shareholder Numbers and Shareholding](index=60&type=section&id=Shareholder%20Numbers%20and%20Shareholding) At period-end, the company had **8,553** common shareholders; the top ten included a concerted action group with significant holdings, and no voting right differences or agreed repurchase transactions were observed among the top ten shareholders - The total number of common shareholders at the end of the reporting period was **8,553**[195](index=195&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Number of Shares Held at Period-end (shares) | Changes in Shareholding During Reporting Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qian Bingjiong | Domestic Natural Person | 14.86% | 20,830,292.00 | 5,951,512 | 15,622,719 | 5,207,573 | | Cen Tengyun | Domestic Natural Person | 11.43% | 16,031,953.00 | 4,580,558 | 12,023,964 | 4,007,989 | | Ji Yongcong | Domestic Natural Person | 9.65% | 13,526,936.00 | 3,864,839 | 10,145,202 | 3,381,734 | | Wang Xuezho | Domestic Natural Person | 8.65% | 12,132,186.00 | 3,466,339 | 9,099,139 | 3,033,047 | | Liu Tao | Domestic Natural Person | 7.09% | 9,942,435.00 | 2,840,696 | 0 | 9,942,435 | | Li Yufeng | Domestic Natural Person | 5.99% | 8,395,386.00 | 2,398,682 | 0 | 8,395,386 | | Hangzhou Shengjie Investment Management Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 5.78% | 8,107,593.00 | 2,316,455 | 0 | 8,107,593 | | Hu Shaoshui | Domestic Natural Person | 4.10% | 5,742,829.00 | 1,640,808 | 4,307,122 | 1,435,707 | | Wei Ruiying | Domestic Natural Person | 1.97% | 2,756,523.00 | 787,578 | 0 | 2,756,523 | | Hangzhou Shengying Investment Management Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 1.38% | 1,939,055.00 | 554,016 | 0 | 1,939,055 | - Qian Bingjiong, Ji Yongcong, Cen Tengyun, Wang Xuezho, and Hu Shaoshui have signed a "**Concerted Action Agreement**"[196](index=196&type=chunk) - The company has no **voting right differential arrangements**, and the top 10 common shareholders and top 10 unrestricted common shareholders did not engage in agreed repurchase transactions during the reporting period[197](index=197&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=62&type=section&id=Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, shareholdings of directors, supervisors, and senior management generally increased due to capital reserve conversions, with significant increases for key management, while Xu Ming's holdings remained unchanged after resigning as deputy general manager Changes in Shareholdings of Directors, Supervisors, and Senior Management | Name | Position | Employment Status | Shares Held at Beginning of Period (shares) | Shares Increased in Current Period (shares) | Shares Held at End of Period (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Qian Bingjiong | Director | Current | 14,878,780 | 5,951,512 | 20,830,292 | | Cen Tengyun | Director, Senior Management | Current | 11,451,395 | 4,580,558 | 16,031,953 | | Ji Yongcong | Director, Senior Management | Current | 9,662,097 | 3,864,839 | 13,526,936 | | Wang Xuezho | Director, Senior Management | Current | 8,665,847 | 3,466,339 | 12,132,186 | | Hu Shaoshui | Director, Senior Management | Current | 4,102,021 | 1,640,808 | 5,742,829 | | Xu Ming | Senior Management | Resigned | 679,320 | 271,728 | 951,048 | | Dong Liujun | Senior Management | Current | 452,435 | 180,974 | 633,409 | | Zhou Qin | Senior Management | Current | 167,320 | 66,928 | 234,248 | | Total | -- | -- | 50,059,215 | 20,023,686 | 70,082,901 | [Changes in Controlling Shareholder or Actual Controller](index=62&type=section&id=Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) During the reporting period, there were no changes in the company's controlling shareholder or actual controller - The company's controlling shareholder did not change during the reporting period[199](index=199&type=chunk) - The company's actual controller did not change during the reporting period[199](index=199&type=chunk) Section VII Bond-Related Information [Bond-Related Information](index=64&type=section&id=Bond-Related%20Information) During the reporting period, the company had no bond-related situations - The company had no bond-related situations during the reporting period[202](index=202&type=chunk) Section VIII Financial Report [Audit Report](index=65&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[204](index=204&type=chunk) [Financial Statements](index=65&type=section&id=Financial%20Statements) This section presents the company's 2025 semi-annual consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity, showing total assets of **CNY 1.21 billion** and net profit of **CNY 20.91 million** Key Consolidated Balance Sheet Data (Period-end) | Item | Ending Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 1,206,612,058.38 | 1,291,960,145.91 | | Total Liabilities | 231,080,102.65 | 307,868,195.08 | | Total Owner's Equity | 975,531,955.73 | 984,091,950.83 | Key Consolidated Income Statement Data (Current Period) | Item | H1 2025 (CNY) | H1 2024 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 236,086,432.42 | 332,312,602.42 | | Operating Profit | 21,681,812.66 | 44,651,290.49 | | Total Profit | 21,794,475.77 | 44,775,916.10 | | Net Profit | 20,914,878.50 | 41,263,617.86 | | Net Profit Attributable to Parent Company Shareholders | 21,413,117.88 | 41,466,970.83 | Key Consolidated Cash Flow Statement Data (Current Period) | Item | H1 2025 (CNY) | H1 2024 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -21,890,627.35 | -44,543,859.24 | | Net Cash Flow from Investing Activities | 6,116,506.06 | 43,530,804.10 | | Net Cash Flow from Financing Activities | -36,855,100.67 | -13,323,834.96 | | Net Increase in Cash and Cash Equivalents | -52,629,221.96 | -14,336,890.10 | - The company's share capital increased by **CNY 39,733,164** due to the conversion of capital reserves into share capital as part of the 2024 annual equity distribution plan, reaching **CNY 140,219,804** at period-end[228](index=228&type=chunk)[562](index=562&type=chunk)[563](index=563&type=chunk)[565](index=565&type=chunk) [Company Basic Information](index=83&type=section&id=Company%20Basic%20Information) Established on June 15, 2015, Hangzhou Shanke Smart Technology Co., Ltd. has a registered capital and total share capital of **CNY 140.22 million**, listed on the Shenzhen Stock Exchange in 2020, and operates with a multi-tiered governance structure, six subsidiaries, and four branches, primarily in smart meter manufacturing and smart water solutions - The company was established on **June 15, 2015**, with both registered capital and total share capital of **CNY 140.22 million**[238](index=238&type=chunk)[239](index=239&type=chunk) - The company was listed on the ChiNext board of the Shenzhen Stock Exchange on **September 28, 2020** (stock code **300897**)[239](index=239&type=chunk) - The company has established a standardized multi-tiered governance structure comprising the General Meeting of Shareholders, Board of Directors, Supervisory Board, and management, with multiple functional departments, **6 subsidiaries**, and **4 branches**[240](index=240&type=chunk)[241](index=241&type=chunk) - The company's main business is **smart meter manufacturing**, with a broad business scope including smart water system development, manufacturing and sales of instruments for supply, smart control system integration, sales of environmental protection special equipment, water resource management, and big data services[242](index=242&type=chunk) [Basis of Financial Statement Preparation](index=84&type=section&id=Basis%20of%20Financial%20Statement%20Preparation) The company prepares its financial statements on a going concern basis, adhering to accounting standards issued by the Ministry of Finance and CSRC disclosure regulations, with no significant doubts about its ability to continue as a going concern for the next 12 months - The company prepares its financial statements on a **going concern basis**, in accordance with the Enterprise Accounting Standards issued by the Ministry of Finance and the "No. 15 Rules for Information Disclosure by Companies Issuing Securities Publicly - General Provisions on Financial Reports (Revised 2023)" issued by the China Securities Regulatory Commission[243](index=243&type=chunk) - There are no events or circumstances that would cast significant doubt on the company's ability to continue as a going concern for the 12 months from the end of the reporting period[244](index=244&type=chunk) [Significant Accounting Policies and Estimates](index=84&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates for financial statement preparation, covering business combinations, financial instruments, receivables, inventories, long-term equity investments, fixed assets, intangible assets, revenue recognition, government grants, deferred income tax, and leases - The financial statements prepared by the company comply with the requirements of Enterprise Accounting Standards, truthfully and completely reflecting the company's financial position, operating results, and cash flows, among other relevant information[247](index=247&type=chunk) - The company classifies financial assets based on the business model for managing them and their contractual cash flow characteristics into financial assets measured at amortized cost, financial assets measured at fair value through other comprehensive income, and financial assets measured at fair value through profit or loss[275](index=275&type=chunk) - The company uses the **transfer of control** as the criterion for revenue recognition, recognizing revenue when the customer obtains control of the related goods[377](index=377&type=chunk) - The company performs impairment treatment and recognizes loss provisions for notes receivable, accounts receivable, contract assets, etc., based on **expected credit losses**[297](index=297&type=chunk) - In applying accounting policies, the company makes judgments, estimates, and assumptions for financial statement items that cannot be measured accurately, and these are regularly reviewed, impacting the reported amounts of income, expenses, assets, and liabilities[408](index=408&type=chunk) [Taxation](index=123&type=section&id=Taxation) The company's main taxes include VAT, urban maintenance and construction tax, corporate income tax, property tax, education surcharge, and local education surcharge, with the company and its subsidiaries benefiting from various tax incentives, including VAT refunds for software products and a **15%** corporate income tax rate for high-tech enterprises Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Value-added amount generated during sales of goods or provision of taxable services | 6%, 9%, 13% | | Urban Maintenance and Construction Tax | Actual amount of turnover tax paid | 7%, 5% etc | | Corporate Income Tax | Taxable income | 15%, 20%, 25% | | Property Tax | For ad valorem taxation, calculated at 1.2% of the original value of the property after a one-time deduction of 30%; for rental taxation, calculated at 12% of rental income | 1.2%, 12% | | Education Surcharge | Actual amount of turnover tax paid | 3% | | Local Education Surcharge | Actual amount of turnover tax paid | 2% | - The company enjoys a **VAT refund policy** for software products, where the portion of actual tax burden exceeding **3%** is immediately refunded[420](index=420&type=chunk) - The company and Hangzhou Shanke Electronic Technology Co., Ltd., as high-tech enterprises, paid corporate income tax at a rate of **15%** for the year 2024[420](index=420&type=chunk) - The company's subsidiaries Jiaxing Shanke, Ningbo Shanke, Hangzhou Shanke Park, Hangzhou Shanhaichain Smart, and Quanxinquanyi (Hangzhou) Technology are eligible for **small and micro-profit enterprise income tax preferential policies** for the year 2024[420](index=420&type=chunk) [Notes to Consolidated Financial Statement Items](index=124&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes for each consolidated financial statement item, including cash, financial assets, receivables, inventories, investments, fixed assets, intangible assets, deferred taxes, borrowings, payables, equity, revenue, costs, expenses, other income, investment gains, impairment losses, and cash flow items - Cash and bank balances at period-end amounted to **CNY 110,853,961.27**, of which **CNY 5,024,584.29** is restricted as bank guarantee deposits[423](index=423&type=chunk) - Accounts receivable had a carrying value of **CNY 390,763,740.12** at period-end, with a bad debt provision rate of **19.26%**[439](index=439&type=chunk) - Contract assets had a carrying value of **CNY 101,696,590.07** at period-end, primarily consisting of warranty receivables, with a bad debt provision rate of **5.00%**[450](index=450&type=chunk)[455](index=455&type=chunk) - Inventories had a carrying value of **CNY 178,300,904.37** at period-end, primarily comprising raw materials, work-in-progress, finished goods, and goods issued[495](index=495&type=chunk) - Long-term equity investments had a carrying value of **CNY 31,158,150.42** at period-end, primarily representing investments in associates[502](index=502&type=chunk) - Fixed assets had a carrying value of **CNY 185,756,217.04** at period-end, primarily consisting of buildings and structures[512](index=512&type=chunk) - Operating revenue for the current period was **CNY 236,086,432.42**, and operating cost was **CNY 139,383,066.89**[572](index=572&type=chunk) - R&D expenses for the current period were **CNY 22,653,449.88**, a year-on-year decrease of **23.64%**[98](index=98&type=chunk)[582](index=582&type=chunk) - Net cash flow from operating activities for the current period was **-CNY 21,890,627.35**, showing an improvement compared to the prior year period[98](index=98&type=chunk)[607](index=607&type=chunk) [R&D Expenses](index=162&type=section&id=R%26D%20Expenses) This period, the company's total R&D expenses amounted to **CNY 22,653,449.88**, a **23.64%** year-on-year decrease, entirely expensed, primarily comprising employee compensation, direct materials, experimental design, and external R&D R&D Expense Details | Item | Amount Incurred in Current Period (CNY) | Amount Incurred in Prior Period (CNY) | | :--- | :--- | :--- | | Employee Compensation | 18,795,636.60 | 23,032,398.38 | | Direct Materials | 1,260,793.29 | 1,387,869.64 | | Experimental Design Fees | 302,650.19 | 573,895.25 | | Conference and Travel Expenses | 393,387.03 | 301,424.48 | | Depreciation and Amortization | 696,501.26 | 797,043.53 | | Entrusted External R&D | 458,679.25 | 2,780,000.00 | | Intellectual Property Fees | 182,589.49 | 119,601.55 | | Other Expenses | 563,212.77 | 676,191.00 | | Total | 22,653,449.88 | 29,668,423.83 | | Of which: Expensed R&D | 22,653,449.88 | 29,668,423.83 | - All R&D expenses for the current period were expensed and not capitalized[619](index=619&type=chunk) [Changes in Consolidation Scope](index=163&type=section&id=Changes%20in%20Consolidation%20Scope) During the reporting period, there were no changes in the company's consolidation scope [Interests in Other Entities](index=163&type=section&id=Interests%20in%20Other%20Entities) The company holds **six subsidiaries** with **100%**

证券代码：300897 证券简称：山科智能 公告编号：2025-049 杭州山科智能科技股份有限公司 关于实际控制人和5%以上股东签署《股份转让协议》、 实际控制人签署《表决权放弃协议》暨控制权拟发生 变更的进展公告 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。 杭州山科智能科技股份有限公司（以下简称"公司"）于近日收到湖北长江 航天科创产业投资有限公司（以下"长江航天"）发来的武汉市新洲区人民政府 国有资产监督管理局出具的《关于同意湖北长江航天科创产业投资有限公司取得 杭州山科智能科技股份有限公司控制权的批复》，具体情况如下： 一、控制权拟发生变更的基本情况 公司于2025年7月16日收到公司实际控制人钱炳炯先生、岑腾云先生、季永 聪先生、王雪洲先生、胡绍水先生、5%以上股东杭州晟捷投资管理合伙企业（有 限合伙）（以下简称"晟捷投资"）、李郁丰先生、杭州晟盈投资管理合伙企业 （有限合伙）（以下简称"晟盈投资"）与长江航天签署的《股份转让协议》以 及公司实际控制人钱炳炯先生、岑腾云先生、季永聪先生、王雪洲先生、胡绍水 先生与长江航天签署的《表决权放弃协议》。 ...

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。 杭州山科智能科技股份有限公司(以下简称"公司")分别于 2025 年 6 月 20 日、2025 年 7 月 7 日召开了第四届董事会第七次会议和 2025 年第二次临时股东 大会，审议通过了《关于变更公司注册资本、经营范围并修订〈公司章程〉的议 案》，具体内容详见于公司披露于巨潮资讯网（www.cninfo.com.cn）的相关公 告。 公司已于近日完成了上述事项工商变更登记，现已取得浙江省市场监督管理 局换发的《营业执照》。相关登记信息如下： 一、基本信息 1 证券代码：300897 证券简称：山科智能 公告编号：2025-048 杭州山科智能科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 1、统一社会信用代码：91330100719572130W 2、名称：杭州山科智能科技股份有限公司 3、类型：其他股份有限公司（上市） 4、住所：浙江省杭州市滨江区西兴街道启智街 89 号山科智能大厦 1602 室 5、法定代表人：钱炳炯 6、注册资本：14021.9804 万元 7、成立日期：1999 年 1 ...

证券之星消息，8月19日通用设备板块较上一交易日上涨0.63%，山科智能领涨。当日上证指数报收于 3727.29，下跌0.02%。深证成指报收于11821.63，下跌0.12%。通用设备板块个股涨跌见下表： 从资金流向上来看，当日通用设备板块主力资金净流出15.1亿元，游资资金净流出3.53亿元，散户资金净 流入18.62亿元。通用设备板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002046 | 国机精工 | 1.97 Z | 11.16% | -9067.93万 | -5.15% | -1.06 Z | -6.01% | | 301368 | 丰立智能 | 1.82 乙 | 11.50% | -9593.00万 | -6.05% | -8653.97万 | -5.46% | | 002158 汉钟精机 | | 1.38 Z 1 | 13.23% | -7642.02万 | -7.31 ...

山科智能股价创出历史新高，截至14:48，该股上涨8.49%，股价报31.19元，成交量962.33万股，成交金 额2.88亿元，换手率10.98%，该股最新A股总市值达43.73亿元，该股A股流通市值27.34亿元。 证券时报·数据宝统计显示，山科智能所属的机械设备行业，目前整体涨幅为0.29%，行业内，目前股价 上涨的有347只，涨停的有北矿科技、四方科技等14只。股价下跌的有231只，跌幅居前的有三德科技、 洪田股份、大元泵业等，跌幅分别为10.40%、10.00%、9.99%。 两融数据显示，该股最新（8月18日）两融余额为8370.40万元，其中，融资余额为8370.40万元，近10日 减少234.78万元，环比下降2.73%。 公司8月12日在交易所互动平台披露，截至最新（8月10日）股东户数为7763户，较上期（7月31日）减 少590户，环比下降7.06%。 公司发布的一季报数据显示，一季度公司共实现营业收入1.11亿元，同比下降17.62%，实现净利润 939.51万元，同比下降43.28%，基本每股收益为0.0900元，加权平均净资产收益率0.95%。（数据宝） （文章来源：证券时报网） ...