人民财讯9月9日电，蕾奥规划9月9日发布声明称，近期，公司发现有不法分子冒用公司及"蕾奥规划上 市公司首席战略官"、"蕾奥规划上市公司战略运营官"等名义开展项目股权融资及产品代理销售路演活 动，不法分子谎称公司拟收购其运作项目的股权，诱导投资者、代理商认购该项目股权及产品，该等行 为已严重损害公司声誉。为保护公众及投资者权益，维护公司声誉，特声明如下：公司未通过任何平 台、以任何形式向公众投资者进行募资、理财、销售代理等活动；未委托或授权他人代表公司宣传、开 展相应的募资、理财、销售代理等活动；该等股权融资及产品代理销售路演活动与公司无任何关系，公 司对该等活动不承担任何责任。截至目前，公司并未聘任"首席战略官"、"首席运营官"等职位。 转自：证券时报 ...

公开资料显示，美国缪斯设计大奖是全球创意领域最具影响力的国际奖项之一，被誉为"设计界的奥斯 卡"。该奖项创办于2015年，由国际奖项协会（International Awards Associate）主办。 据介绍，坪山中集片区项目涉及多个土地整备利益统筹、城市更新项目。蕾奥规划则以"未来山水住 区"为愿景，重点关注山水城绿空间打造及轨道站点的TOD开发（以公共交通为导向的开发），营造24 小时活力城。蕾奥规划在建筑设计上应用智慧表皮、低空经济、新型市政设施、第四代住宅等新技术和 新产品，打造集山水休闲、特色商业和高品质居住于一体的国际化绿色未来社区。 中证报中证网讯（王珞）近日，全球设计大奖美国缪斯设计大奖（Muse Design Awards）获奖名单揭 晓，蕾奥规划（300989）作品《深圳坪山中集片区城市设计》荣获"建筑设计-城市设计类"金奖。 蕾奥规划表示，目前公司已构建起规划设计、城市运营、智慧城市三位一体的服务体系。公司以打 造"智慧城市规划运营专家"为目标，以"行动规划+ 运营咨询"为技术理念，在巩固规划设计和工程设计 业务的同时，全面拓展城市运营业务与智慧城乡（数字经济）业务，并大力发展与智 ...

Core Insights - The company reported a total revenue of 156 million yuan for the first half of 2025, ranking 23rd among disclosed peers, which represents a decrease of 13.93 million yuan or 8.21% year-on-year [1] - The net profit attributable to shareholders was 8.39 million yuan, ranking 16th among peers [1] - The company experienced a negative cash flow from operating activities amounting to -39.52 million yuan [1] Financial Metrics - The latest debt-to-asset ratio is 19.82%, an increase of 2.85 percentage points compared to the same period last year [3] - The gross profit margin stands at 47.49%, down by 0.19 percentage points from the previous quarter [3] - The return on equity (ROE) is 0.85%, ranking 15th among disclosed peers [3] - The diluted earnings per share (EPS) is 0.04 yuan, ranking 16th among peers [3] - The total asset turnover ratio is 0.13 times, ranking 17th and showing a decrease of 0.01 times or 3.93% year-on-year [3] Shareholder Structure - The number of shareholders is 9,688, with the top ten shareholders holding a total of 108 million shares, accounting for 51.10% of the total share capital [3] - The largest shareholder is Wang Fuhai, holding 10.9% of the shares [3] - Other significant shareholders include Shenzhen Leao Enterprise Management Consulting Partnership (Limited Partnership) at 8.16%, Zhu Xuhui at 5.19%, and Chen Hongjun at 5.16% [3]

Core Insights - The company reported a revenue of 156 million yuan for the first half of 2025, representing a year-on-year decrease of 8.21% [1] - The net profit attributable to shareholders increased to 8.39 million yuan, showing a significant year-on-year growth of 238.10% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.61 million yuan [1] - The basic earnings per share were reported at 0.04 yuan [1]

Core Viewpoint - The company reported a decline in revenue for the first half of 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - The company achieved operating revenue of 156 million yuan, representing a year-on-year decrease of 8.21% [1] - The net profit attributable to shareholders of the listed company was 8.39 million yuan, reflecting a year-on-year increase of 238.10% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.61 million yuan [1] - Basic earnings per share were reported at 0.04 yuan [1]

Group 1 - The company reported a revenue of 156 million yuan for the first half of the year, representing a year-on-year decrease of 8.21% [1] - The net profit attributable to shareholders was 8.39 million yuan, showing a significant year-on-year increase of 238.10% [1] - The basic earnings per share were 0.04 yuan [1]

证券代码：300989 证券简称：蕾奥规划 公告编号：2025-031 深圳市蕾奥规划设计咨询股份有限公司 第三届董事会第二十二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市蕾奥规划设计咨询股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日以现场与通讯相结合的方式在公司会议室召开第三届董事会第二十二次会议， 会议通知及相关会议材料于 2025 年 8 月 15 日以专人送达、电子邮件等方式送达全 体董事。本次会议由公司董事长王富海先生主持，应出席董事 9 名，实际出席董事 9 名，公司监事和高级管理人员列席了会议。会议的召集、召开程序符合《公司法》 等相关法律法规和《公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 本议案已经公司第三届董事会审计委员会第十三次会议审议通过。 具体内容详见公司同日在巨潮资讯网（http://www.cninfo.com.cn）披露的《2025 年半年度报告》及《2025 年半年度报告摘要》。 第 1 页 共 2 页 2、会议以 9 票同意、0 票反对、0 ...

Important Notice, Table of Contents and Definitions This section provides essential disclaimers, the report's structured table of contents, and definitions of key terms for clarity [Important Notice](index=2&type=section&id=Important%20Notice) The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content - The company's person in charge, Wang Fuhai, head of accounting work, Jin Cheng, and head of accounting department, Lin Jingsi, declare the financial report is true, accurate, and complete[3](index=3&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or capitalize reserves[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the report's structured table of contents, comprising eight main chapters that cover important notices, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, and financial reports - The report contains eight main chapters, from Important Notice to Financial Report, with a clear structure[7](index=7&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section provides definitions for common terms used in the report, including regulatory bodies, exchanges, laws and regulations, company entities, business types (e.g., planning and design, urban renewal, TOD, smart city, AIGC), and reporting period dates, ensuring consistent understanding of professional terminology - The report defines regulatory and legal terms such as the China Securities Regulatory Commission (CSRC), Shenzhen Stock Exchange (SZSE), Securities Law, and Company Law[12](index=12&type=chunk) - It explains core business and technology concepts including Lay-out Planning and its subsidiaries, planning and design, national spatial planning, TOD, urban renewal, smart city, and AIGC[12](index=12&type=chunk) - The reporting period is clarified as January 1, 2025, to June 30, 2025, with the end of the reporting period being June 30, 2025[12](index=12&type=chunk) Company Profile and Key Financial Indicators This section presents the company's fundamental information and a summary of its key financial performance metrics [Company Profile](index=6&type=section&id=I.%20Company%20Profile) This section introduces the company's basic information, including stock abbreviation, code, listing exchange, Chinese and English names, and legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Lay-out Planning | | Stock Code | 300989 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | Shenzhen Lay-out Planning and Design Consulting Co., Ltd | | Legal Representative | Wang Fuhai | [Contact Persons and Contact Information](index=6&type=section&id=II.%20Contact%20Persons%20and%20Contact%20Information) This section provides contact information for the company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, faxes, and email addresses, to facilitate investor communication - Contact information for Board Secretary Jin Cheng and Securities Affairs Representative Lü Yaping has been disclosed, with both addresses at 8th Floor, Tower A, Tianjian Innovation Center, Nanshan District, Shenzhen[15](index=15&type=chunk) [Other Information](index=6&type=section&id=III.%20Other%20Information) This section states that the company's contact information, information disclosure, and report availability locations remained unchanged during the reporting period, and details the changes in total share capital and registered capital due to the repurchase and cancellation of restricted shares - The company's registered address, office address, website, email, and other contact information remained unchanged during the reporting period[16](index=16&type=chunk) - The securities exchange website and media name and URL for the company's semi-annual report disclosure, as well as the report's availability location, remained unchanged during the reporting period[17](index=17&type=chunk) - Due to the repurchase and cancellation of **380,855** restricted shares, the total share capital changed from **211.34 million shares** to **210.96 million shares**, with registered capital changing accordingly, and industrial and commercial change registration procedures are in progress[18](index=18&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the company's key accounting data and financial indicators for the current reporting period compared to the same period last year, showing a year-on-year decrease in operating revenue but significant growth in net profit attributable to shareholders and non-recurring net profit, with a narrowing loss in net cash flow from operating activities Key Accounting Data and Financial Indicators (Year-on-Year) | Indicator | Current Reporting Period (yuan) | Prior Year (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 155,815,688.22 | 169,743,118.17 | -8.21% | | Net Profit Attributable to Shareholders of Listed Company | 8,391,096.14 | 2,481,852.17 | 238.10% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | 2,608,797.71 | -2,003,480.92 | 230.21% | | Net Cash Flow from Operating Activities | -39,523,223.07 | -124,668,108.73 | 68.30% | | Basic Earnings Per Share (yuan/share) | 0.04 | 0.01 | 300.00% | | Diluted Earnings Per Share (yuan/share) | 0.04 | 0.01 | 300.00% | | Weighted Average Return on Net Assets | 0.85% | 0.24% | 0.61% | | Total Assets (End of Period) | 1,232,234,138.13 | 1,219,965,673.91 | 1.01% | | Net Assets Attributable to Shareholders of Listed Company (End of Period) | 990,299,661.91 | 981,296,229.04 | 0.92% | [Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=7&type=section&id=V.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company had no differences in net profit and net assets between financial reports disclosed under International Accounting Standards or overseas accounting standards and Chinese Accounting Standards during the reporting period - The company had no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[20](index=20&type=chunk) - The company had no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[21](index=21&type=chunk) [Non-recurring Gains and Losses Items and Amounts](index=8&type=section&id=VI.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the non-recurring gains and losses items and their amounts for the reporting period, totaling **5.78 million yuan**, primarily including gains/losses from disposal of non-current assets, government grants, fair value changes, and entrusted investment income Non-recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 708,123.71 | | Government grants recognized in current profit or loss | 1,816,590.17 | | Gains or losses from changes in fair value and disposal of financial assets and liabilities | 1,776,146.11 | | Gains or losses from entrusted investments or asset management | 2,427,818.02 | | Other non-operating income and expenses | -16,895.61 | | Less: Income tax impact | 922,552.04 | | Impact on minority interests (after tax) | 6,931.93 | | **Total** | **5,782,298.43** | - The company does not classify 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[24](index=24&type=chunk) Management Discussion and Analysis This section offers an in-depth review of the company's operations, financial condition, and future outlook during the reporting period [Main Businesses of the Company During the Reporting Period](index=9&type=section&id=I.%20Main%20Businesses%20of%20the%20Company%20During%20the%20Reporting%20Period) During the reporting period, the company focused on its "smart city planning and operation expert" strategic goal, building four business segments: planning and design, urban operations, smart urban-rural development, and investment, while actively addressing industry challenges through R&D innovation, overseas market expansion, and participation in standard setting to consolidate its industry position - The company's strategic goal is to be a **"smart city planning and operation expert"**, with its service system expanding from planning and design to a three-in-one model of planning and design, urban operation, and smart city[26](index=26&type=chunk) - The company's business covers four major segments: planning and engineering design, urban operations, smart urban-rural development (digital economy), and investment[26](index=26&type=chunk) - The company actively responds to national policies such as national spatial planning, "AI+" initiatives, digital economy development, low-altitude economy, and "Three Major Projects" construction to seize industry development opportunities[43](index=43&type=chunk)[45](index=45&type=chunk)[47](index=47&type=chunk)[49](index=49&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk) [(I) Main Businesses of the Company](index=9&type=section&id=(I)%20Main%20Businesses%20of%20the%20Company) The company's main businesses include planning and engineering design (e.g., urban renewal, TOD), urban operations (e.g., integrated operation consulting, industrial park operations), smart urban-rural development (e.g., smart diagnosis for urban health checks, AI model applications), and investment business (focusing on strategic emerging industries like intelligent manufacturing and semiconductors) - Planning and engineering design business emphasizes the "action planning + operation consulting" concept, covering national spatial planning, urban renewal, TOD, etc., with urban renewal being a flagship product[26](index=26&type=chunk)[27](index=27&type=chunk) - Urban operations business provides systematic smart operation solutions, covering industrial planning, urban investment banking, REITs incubation, etc., having initially formed a layout and created demonstration projects[28](index=28&type=chunk)[29](index=29&type=chunk) - Smart urban-rural business relies on digital transformation to provide solutions for data value mining, spatial digital governance, and industrial smart empowerment, while fully advancing the "AI+" development strategy[30](index=30&type=chunk)[31](index=31&type=chunk) - Investment business focuses on strategic cooperation, industrial chain qualification layout, and Pre-REITs, having partnered with professional institutions to establish a **500 million yuan** equity investment fund, with **11** projects cumulatively invested, totaling **78.49 million yuan**[32](index=32&type=chunk)[33](index=33&type=chunk) [(II) Company Operating Model](index=10&type=section&id=(II)%20Company%20Operating%20Model) The company's planning and engineering design business is primarily acquired through bidding and direct client engagement; its operation consulting business adopts a new "platform + template" marketing model; its service model emphasizes chief planner-led continuous growth and quality control; and its procurement model is divided into routine and outsourced procurement - Planning and engineering design business is acquired through two methods: public/invited bidding and direct client engagement, with future expansion into P+F+EPC+O integrated services[34](index=34&type=chunk)[35](index=35&type=chunk) - Operation consulting business adopts a new **"platform + template"** marketing model, managing client needs through a digital platform and creating replicable template products[36](index=36&type=chunk) - Service model ensures overall project control and quality management by lead chief planners, promoting chief planner services to enhance client stickiness[37](index=37&type=chunk)[39](index=39&type=chunk) - Procurement model includes routine procurement (equipment, materials, design and production services) and outsourced procurement (consulting services, design services)[40](index=40&type=chunk) [(III) Company Industry Position](index=12&type=section&id=(III)%20Company%20Industry%20Position) The company holds a strong competitive advantage in the planning and design business, with a high revenue contribution, operations spanning **33** provinces (municipalities, autonomous regions, special administrative regions) nationwide, multiple Class A qualifications, and research centers, demonstrating outstanding scientific research capabilities and widespread industry recognition - The company's planning and design business revenue accounts for over **90%** of its main business, ranking among the top in the market[41](index=41&type=chunk) - Business covers **33** provinces (municipalities, autonomous regions, special administrative regions) nationwide, making it one of the few listed private planning and design enterprises capable of largely covering the national market[41](index=41&type=chunk) - Possesses multiple Class A qualifications in urban and rural planning, landscape architecture engineering design, and construction industry, and has established the Guangdong Digital TOD Planning Engineering Technology Research Center and Guangdong Urban Renewal Research Workstation[41](index=41&type=chunk)[42](index=42&type=chunk) [(IV) Impact of National Strategies and Industry Policies on the Company's Industry](index=12&type=section&id=(IV)%20Impact%20of%20National%20Strategies%20and%20Industry%20Policies%20on%20the%20Company's%20Industry) National policies profoundly impact the planning and design industry, with the comprehensive implementation of the national spatial planning system driving standardized development; artificial intelligence technology reshaping the industry's underlying logic; digital economy and smart city construction providing broad application scenarios; rapid development of the low-altitude economy bringing new opportunities; "Three Major Projects" creating incremental demand; and urban operations becoming a key driver for intrinsic urban development - The comprehensive implementation of the national spatial planning system promotes standardized industry development and provides new business growth points for planning and design enterprises[43](index=43&type=chunk)[44](index=44&type=chunk) - Artificial intelligence technology (e.g., generative AI) is reshaping the planning and design industry, with the government work report's first mention of **"AI+"** initiatives bringing both opportunities and challenges to the sector[45](index=45&type=chunk) - The digital economy continues to expand, reaching **53.9 trillion yuan** in 2023, projected to exceed **60 trillion yuan** by 2025, with smart city construction becoming a new engine for digital economy development[46](index=46&type=chunk)[47](index=47&type=chunk) - The low-altitude economy is listed as a strategic emerging industry, with a projected market size of **1.5 trillion yuan** by 2025 and **3.5 trillion yuan** by 2035, driving the transformation of urban spatial structures towards vertical and three-dimensional development[48](index=48&type=chunk)[49](index=49&type=chunk) - The **"Three Major Projects"** (affordable housing, urban village renovation, and dual-use public infrastructure for emergencies) continue to advance, providing stable and sufficient market space for urban renewal businesses[50](index=50&type=chunk)[51](index=51&type=chunk) - Urban development is shifting from incremental expansion to quality improvement of existing stock, with urban operations becoming a crucial path to achieve high-quality urban development and foster new productive forces[52](index=52&type=chunk) [(V) Company's Main Operating Conditions During the Reporting Period](index=15&type=section&id=(V)%20Company's%20Main%20Operating%20Conditions%20During%20the%20Reporting%20Period) During the reporting period, the company's operating revenue decreased by **8.21%** year-on-year, but net profit attributable to parent company shareholders increased by **238.10%**, mainly due to cost and expense control and business structure optimization; the company continued to advance its "smart city planning and operation expert" strategy, increasing R&D investment, expanding AI computing power services and overseas markets, and actively participating in industry standard setting Operating Performance in H1 2025 | Indicator | Amount (million yuan) | Year-on-Year Change | | :--- | :--- | :--- | | Operating Revenue | 155.82 | -8.21% | | Net Profit Attributable to Shareholders of Listed Company | 8.39 | 238.10% | | R&D Investment | 20.17 | -8.10% | | R&D Investment as % of Operating Revenue | 12.94% | - | | Planning and Design Business Revenue | 129.30 | - | | Planning and Design Business Revenue as % of Total | 82.98% | - | | Gross Margin of Planning and Design Business | 48.89% | Growth 9.09% | | Urban Renewal Business Revenue | 23.34 | - | | Urban Renewal Business Revenue as % of Total | 14.98% | - | | Gross Margin of Urban Renewal Business | 51.87% | Growth 15.11% | | Computing Power and Smart Products Revenue | 4.30 | - | | Computing Power and Smart Products Revenue as % of Total | 2.76% | - | | Gross Margin of Computing Power and Smart Products | 24.04% | - | - The company continuously strengthens internal management, optimizes business structure, adjusts resource allocation, focuses on core businesses, deepens informatization management, strengthens capital control, implements cost reduction and efficiency improvement measures, resulting in a year-on-year decrease in period expenses and enhanced overall profitability[54](index=54&type=chunk) - The company led the establishment of the "Urban Operations Lab" and "Urban Operations Industry Alliance" to integrate resources, accelerate business implementation, and expand international cooperation channels in Southeast Asia, the Middle East, and other regions[57](index=57&type=chunk)[58](index=58&type=chunk) - The AI product **"Lay-out AI Planning and Design Product"** has been officially sold and secured orders, and the company co-founded a low-altitude economy industry-university-research collaborative innovation community with Central University of Finance and Economics, also being elected as a member of the Guangdong Artificial Intelligence and Robotics Industry Alliance[58](index=58&type=chunk) - The company's R&D investment accounts for **12.94%** of revenue, with multiple R&D achievements applied, promoted, and commercialized, including the **"City Lay-out"** big data platform, CIM platform, and **"Lay-out AI Planning and Design Assistant"**[59](index=59&type=chunk)[60](index=60&type=chunk)[61](index=61&type=chunk) - The company is strategically positioning itself in the cutting-edge field of AI computing power services, having obtained an ICP value-added telecommunications business license and signed a computing power service cooperation agreement for smart computing projects with China Unicom (Guangdong) Industrial Internet Co., Ltd[62](index=62&type=chunk)[63](index=63&type=chunk) - The company established Lay-out International Development Co., Ltd., a holding subsidiary in Hong Kong, actively expanding into overseas markets and engaging in discussions with governments and enterprises in Nigeria and Turkey for urban planning and operation services[64](index=64&type=chunk)[65](index=65&type=chunk) - The company actively participates in the formulation of industry technical standards, with multiple standards approved for release or steadily advancing, enhancing its industry influence and technical standing[66](index=66&type=chunk)[67](index=67&type=chunk) [Core Competitiveness Analysis](index=18&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core competitiveness is reflected in its brand value, market demand insight and technological innovation capabilities, experienced operating team, diverse client resources, extensive branch network, strong R&D capabilities, significant research project expertise, rich project experience, and mature management model - The company has a strong brand advantage in planning and design, holding multiple Class A qualifications, with business covering the entire country, and has cumulatively received **423** design awards of various types[68](index=68&type=chunk) - The company's management team accurately grasps market demand, proposed the **"action planning + operation consulting"** technical concept, and published multiple academic books, gaining industry recognition[70](index=70&type=chunk)[71](index=71&type=chunk) - The company boasts an international, high-caliber integrated design team, including **16** professor-level senior engineers, **74** senior professional title employees, and **189** mid-level professional title employees, providing talent support for business development[72](index=72&type=chunk)[73](index=73&type=chunk) - Diverse client base, collaborating with various levels of government and large state-owned construction enterprises, and expanding into overseas markets such as Thailand, Malaysia, Nigeria, and Pakistan[74](index=74&type=chunk) - The company has established branches in over **20** cities including Beijing, Nanjing, and Ningbo, with service coverage across **33** provincial-level administrative units, transforming geographical limitations into advantages[76](index=76&type=chunk) - As a national high-tech enterprise, it possesses multiple research platforms such as the Guangdong Digital TOD Planning Engineering Technology Research Center, and has developed several intelligent platforms like **"City Lay-out"** and **"Lay-out AI Planning and Design Assistant"**[77](index=77&type=chunk) - The company has undertaken over **31** research projects at various levels, enhancing its industry influence and technical standing[78](index=78&type=chunk) - The company has cumulatively undertaken over **6,500** projects, receiving **28** international, **39** national, **158** provincial, and **198** municipal awards, demonstrating extensive project experience[79](index=79&type=chunk) - The company possesses mature management philosophies and an informatized management platform, effectively allocating information, personnel, technology, and data to ensure project quality and team expansion[81](index=81&type=chunk) [Main Business Analysis](index=21&type=section&id=III.%20Main%20Business%20Analysis) This section outlines the company's main business operations and details the year-on-year changes in key financial data, showing a decrease in operating revenue but a significant increase in net profit, along with explanations for these changes - For information on the company's main business, please refer to "I. Main Businesses of the Company During the Reporting Period"[82](index=82&type=chunk) Key Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (yuan) | Prior Year (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 155,815,688.22 | 169,743,118.17 | -8.21% | - | | Net Profit Attributable to Parent Company Shareholders | 8,391,096.14 | 2,481,852.17 | 238.10% | The company strengthened cost and expense control, leading to a decrease in costs and expenses during the reporting period | | Net Cash Flow from Operating Activities | -39,523,223.07 | -124,668,108.73 | 68.30% | Cash paid to and for employees, and various taxes and fees paid, decreased | | Financial Expenses | 1,250,413.41 | 205,913.15 | 507.25% | Decrease in interest income and increase in loan interest | | Income Tax Expense | 711,126.04 | -701,186.83 | 201.42% | Change in deferred income tax | | Net Cash Flow from Investing Activities | 69,644,521.82 | 118,459,299.50 | -41.21% | Amount of wealth management products redeemed at maturity was less than the amount purchased, and procurement of computing power servers | | Net Cash Flow from Financing Activities | 40,813,381.65 | -17,922,100.13 | 327.73% | Increase in cash received from borrowings | - There were no significant changes in the company's profit composition or sources of profit during the reporting period[84](index=84&type=chunk) [Non-Main Business Analysis](index=22&type=section&id=IV.%20Non-Main%20Business%20Analysis) This section analyzes the composition of the company's non-main businesses and their impact on total profit, primarily including investment income, fair value change gains/losses, other income, and credit impairment losses, with credit impairment losses having the largest impact on total profit Impact of Non-Main Business on Total Profit | Item | Amount (yuan) | % of Total Profit | Explanation of Formation Reason | Is it Sustainable | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 624,947.03 | 8.07% | Income from wealth management products and investment losses from associates | No | | Fair Value Change Gains/Losses | 1,776,146.11 | 22.94% | Fair value change gains from trading financial assets during the holding period | No | | Other Income | 1,818,491.17 | 23.49% | Various government subsidies and individual income tax refunds | No | | Credit Impairment Losses | -6,564,915.14 | -84.79% | Provision for bad debts on accounts receivable and other receivables | Yes | [Analysis of Assets and Liabilities](index=22&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) This section analyzes the composition and significant changes in the company's assets and liabilities, including major movements in cash and bank balances, accounts receivable, fixed assets, and short-term borrowings, and discloses information on financial assets measured at fair value and restricted assets Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (yuan) | % of Total Assets | Amount at End of Previous Year (yuan) | % of Total Assets | % Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 365,556,625.86 | 29.67% | 331,325,850.84 | 27.16% | 2.51% | No significant change | | Accounts Receivable | 246,404,221.63 | 20.00% | 214,347,032.88 | 17.57% | 2.43% | No significant change | | Fixed Assets | 42,710,174.03 | 3.47% | 14,942,860.59 | 1.22% | 2.25% | Primarily due to the procurement of computing power servers during the reporting period | | Short-term Borrowings | 50,000,000.00 | 4.06% | 0.00 | 0.00% | 4.06% | Primarily due to increased bank borrowings for the company's operational needs | | Employee Benefits Payable | 8,608,741.45 | 0.70% | 30,761,626.07 | 2.52% | -1.82% | Primarily due to the payment of prior year's bonuses during the reporting period | Financial Assets Measured at Fair Value | Item | End of Period (yuan) | Beginning of Period (yuan) | | :--- | :--- | :--- | | Trading Financial Assets | 262,423,916.19 | 341,754,053.38 | | Other Equity Instrument Investments | 42,141.05 | 42,233.44 | | **Total** | **262,466,057.24** | **341,796,286.82** | Restricted Asset Information | Item | Carrying Amount at End of Period (yuan) | Reason for Restriction | | :--- | :--- | :--- | | Other Cash and Bank Balances | 1,674,209.62 | Performance bond deposit | | Other Cash and Bank Balances | 904,000.00 | Advance payment bond deposit | | Fixed Assets | 916,364.77 | According to relevant affordable housing policies, the company currently only has the right to use | | **Total** | **3,494,574.39** | - | [Investment Status Analysis](index=24&type=section&id=VI.%20Investment%20Status%20Analysis) This section analyzes the company's investment status, including a year-on-year decrease in total investment during the reporting period, information on financial assets measured at fair value, the overall use of raised funds and progress of pledged projects, and details on entrusted wealth management Investment Amount During Reporting Period | Indicator | Investment Amount in Current Reporting Period (yuan) | Investment Amount in Prior Year (yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Investment Amount | 4,745,000.00 | 6,639,000.00 | -28.53% | Financial Assets Measured at Fair Value | Asset Category | End of Period (yuan) | Source of Funds | | :--- | :--- | :--- | | Other (Self-owned Funds) | 81,716,223.42 | Self-owned Funds | | Other (Idle Raised Funds) | 180,707,692.77 | Idle Raised Funds | | **Total** | **262,423,916.19** | - | Overall Use of Raised Funds | Fundraising Year | Fundraising Method | Total Raised Funds (million yuan) | Net Raised Funds (million yuan) | Total Raised Funds Cumulatively Used (million yuan) | % of Raised Funds Used at End of Reporting Period | | :--- | :--- | :--- | :--- | :--- | :--- | | 2021 | Initial Public Offering | 774.30 | 695.70 | 310.43 | 44.62% | - The pledged investment projects **"Planning and Design Service Network Construction Project"** and **"Planning and Design Intelligent Construction Project"** have been delayed due to factors such as the macroeconomic environment, real estate regulation policies, and optimization of construction plans[104](index=104&type=chunk) Overview of Entrusted Wealth Management | Specific Type | Amount of Entrusted Wealth Management Occurred (million yuan) | Unmatured Balance (million yuan) | | :--- | :--- | :--- | | Bank Wealth Management Products (Raised Funds) | 369.00 | 58.50 | | Brokerage Wealth Management Products (Raised Funds) | 58.50 | 122.00 | | Bank Wealth Management Products (Self-owned Funds) | 141.62 | 81.62 | | **Total** | **569.12** | **262.12** | [Significant Asset and Equity Sales](index=29&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Sales) The company did not engage in any significant asset or equity sales during the reporting period - The company did not sell significant assets during the reporting period[111](index=111&type=chunk) - The company did not sell significant equity during the reporting period[112](index=112&type=chunk) [Analysis of Major Holding and Participating Companies](index=29&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section analyzes the operating performance of the company's major holding and participating companies, including Shenzhen Lay-out Architectural Design Consulting Co., Ltd., Shenzhen Lay-out Investment Holding Co., Ltd., and Lay-out Industrial City (Shenzhen) Sci-tech Center Operation Management Co., Ltd., and discloses information on the acquisition and disposal of subsidiaries during the reporting period Operating Performance of Major Subsidiaries | Company Name | Main Business | Registered Capital (million yuan) | Total Assets (million yuan) | Net Assets (million yuan) | Operating Revenue (million yuan) | Net Profit (million yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Lay-out Architectural Design Consulting Co., Ltd | Architectural Design Consulting | 10.08 | 21.34 | 6.66 | 8.72 | 1.19 | | Shenzhen Lay-out Investment Holding Co., Ltd | Engaged in Investment Activities | 50.00 | 12.89 | 12.89 | - | -1.78 | | Lay-out Industrial City (Shenzhen) Sci-tech Center Operation Management Co., Ltd | Park Management Services, Non-residential Real Estate Leasing, Property Management | 2.00 | 54.06 | -1.22 | 1.29 | -3.18 | - During the reporting period, the company newly established Shenzhen Lay-out Qifu Urban Operation Management Service Co., Ltd. and Longhui Lay-out Qifu Urban Operation Management Co., Ltd., and transferred part of its equity in Lay-out (Tianjin) Investment Management Co., Ltd., Shenzhen Lay-out Artificial Intelligence Operation Co., Ltd., and Lay-out Urban Operation Technology (Shenzhen) Co., Ltd. through agreements[115](index=115&type=chunk) [Information on Structured Entities Controlled by the Company](index=30&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) The company had no controlled structured entities during the reporting period - The company had no controlled structured entities during the reporting period[116](index=116&type=chunk) [Risks Faced by the Company and Countermeasures](index=30&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from changes in macroeconomic policies and economic conditions, intensified market competition, technological innovation, and raised fund investment projects; to address these, the company will strengthen policy research, expand markets, enhance management and technical capabilities, optimize its R&D system, and closely monitor the progress of its investment projects - The company's business is affected by macroeconomic policies, urbanization processes, and fixed asset investments, facing the risk of slower budget growth from relevant departments; the company will strengthen policy research and national market expansion to address this[116](index=116&type=chunk) - Industry qualification management reforms and the external economic environment have intensified market competition; the company will respond by strengthening core competitiveness, expanding brand influence, and enhancing management and technical capabilities[117](index=117&type=chunk)[119](index=119&type=chunk) - Technological innovation is the company's core competitiveness, facing risks of untimely new technology development and unsuccessful R&D project advancement; the company will continuously optimize its R&D system, strengthening process supervision and outcome review[120](index=120&type=chunk) - Raised fund investment projects may experience extended construction periods or lower-than-expected benefits due to uncertainties such as macroeconomic conditions, industry policies, and market environment; the company will continuously monitor project progress and make timely adjustments[121](index=121&type=chunk) [Registration Form for Research, Communication, Interview and Other Activities During the Reporting Period](index=31&type=section&id=XI.%20Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%20and%20Other%20Activities%20During%20the%20Reporting%20Period) During the reporting period, the company hosted **5** research activities, including on-site visits and online platform exchanges, with participants including institutional and individual investors, primarily discussing the company's business, daily operations, and future development - During the reporting period, the company hosted **5** investor relations activities, including on January 21, May 9, June 5, June 18, and June 20, 2025[122](index=122&type=chunk)[123](index=123&type=chunk) - Reception methods included on-site visits at the company's conference room and online communication via the **"Value Online"** platform[122](index=122&type=chunk)[123](index=123&type=chunk) - The main topics discussed were the company's business, daily operations, and future development, with no written materials provided by the company[122](index=122&type=chunk)[123](index=123&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=32&type=section&id=XII.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period - The company did not formulate a market value management system during the reporting period[124](index=124&type=chunk) - The company did not disclose a valuation enhancement plan during the reporting period[124](index=124&type=chunk) [Implementation of "Quality and Return Dual Improvement" Action Plan](index=32&type=section&id=XIII.%20Implementation%20of%20%22Quality%20and%20Return%20Dual%20Improvement%22%20Action%20Plan) The company did not disclose an announcement regarding the "Quality and Return Dual Improvement" action plan during the reporting period - The company did not disclose an announcement regarding the **"Quality and Return Dual Improvement"** action plan during the reporting period[124](index=124&type=chunk) Corporate Governance, Environment and Society This section details the company's governance structure, profit distribution, employee incentives, environmental disclosures, and social responsibility efforts [Changes in Company's Directors, Supervisors, and Senior Management](index=33&type=section&id=I.%20Changes%20in%20Company's%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the company's directors, supervisors, and senior management during the reporting period, with specific details available in the 2024 annual report - There were no changes in the company's directors, supervisors, and senior management during the reporting period[126](index=126&type=chunk) [Profit Distribution and Capital Reserve to Share Capital Increase During the Reporting Period](index=33&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20to%20Share%20Capital%20Increase%20During%20the%20Reporting%20Period) The company plans not to distribute cash dividends, bonus shares, or capitalize reserves for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or capitalize reserves for the semi-annual period[127](index=127&type=chunk) [Implementation of Company's Equity Incentive Plan, Employee Stock Ownership Plan or Other Employee Incentive Measures](index=33&type=section&id=III.%20Implementation%20of%20Company's%20Equity%20Incentive%20Plan%2C%20Employee%20Stock%20Ownership%20Plan%20or%20Other%20Employee%20Incentive%20Measures) The company continued to implement its 2023 Restricted Stock Incentive Plan, with repurchases and cancellations of restricted shares that did not meet unlocking conditions or were held by departing incentive recipients during the reporting period, leading to changes in total share capital and registered capital - On February 24, 2023, the company initially granted **2.095 million** restricted shares to **65** incentive recipients; subsequently, the granted quantity and price were adjusted due to the implementation of the 2022 annual equity distribution plan[129](index=129&type=chunk)[131](index=131&type=chunk) - Due to the 2023 annual performance not meeting the unlocking conditions and the departure of incentive recipients, the company approved the repurchase and cancellation of **289,350** restricted shares on April 23, 2024[132](index=132&type=chunk) - Due to the implementation of the 2023 annual equity distribution plan, the number of repurchased and cancelled restricted shares was adjusted to **376,178 shares**, the repurchase price was adjusted to **5.05 yuan/share**, and the repurchase and cancellation were completed on August 1, 2024[133](index=133&type=chunk) - Due to the 2024 annual performance not meeting the unlocking conditions and the departure of incentive recipients, the company approved the repurchase and cancellation of **380,855** restricted shares on April 24, 2025, and completed the repurchase and cancellation on July 15, 2025, leading to another change in total share capital and registered capital[134](index=134&type=chunk) [Environmental Information Disclosure](index=34&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[135](index=135&type=chunk) [Social Responsibility](index=35&type=section&id=V.%20Social%20Responsibility) The company highly values its social responsibilities, committed to protecting the legitimate rights and interests of shareholders, creditors, suppliers, customers, and employees, and promotes sustainable enterprise development through measures such as improving corporate governance, strengthening risk management, fostering honest cooperation, and providing welfare benefits - The company strictly adheres to laws and regulations, establishes a sound internal control system, values investor relations management, and ensures timely, true, accurate, and complete information disclosure to protect shareholder interests[137](index=137&type=chunk) - The company fully considers creditor interests in major business decisions, strictly fulfills contractual obligations, maintains a stable financial structure, and achieves high credit ratings[137](index=137&type=chunk) - The company formulates standardized customer and supplier management systems, adheres to legal compliance and win-win principles, establishes long-term stable cooperative relationships with major suppliers, and ensures customer interests through high-quality services[138](index=138&type=chunk) - The company strictly complies with labor laws and regulations, pays social insurance and housing provident funds for employees, provides welfare benefits, and focuses on employee career development and training, achieving mutual growth between employees and the company through equity incentives and other means[139](index=139&type=chunk) Significant Matters This section covers all material events, commitments, related party transactions, and other significant disclosures impacting the company [Commitments Fulfilled and Overdue Unfulfilled Commitments by Company's Actual Controller, Shareholders, Related Parties, Acquirers and the Company During and as of the End of the Reporting Period](index=36&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20Commitments%20by%20Company's%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) This section details the commitments made by the company's actual controller, shareholders, related parties, and the company that were fulfilled during the reporting period or remain unfulfilled as of the end of the reporting period, including those related to control stability, share lock-up, holding intentions and reductions, investor protection, reduction and standardization of related party transactions, avoidance of horizontal competition, and shareholder information disclosure - The company's controlling shareholder and actual controller, Wang Fuhai, and others, committed not to increase their shareholding or seek control of the listed company within the next **12** months; this commitment has been fulfilled[141](index=141&type=chunk) - The company's directors, supervisors, and senior management committed not to transfer more than **25%** of their total shares held annually during their tenure, and not to transfer shares within six months after leaving office; this commitment is ongoing[141](index=141&type=chunk) - The controlling shareholder and actual controller, Wang Fuhai, committed that the selling price of the company's shares held by him would not be lower than the offering price within two years after the lock-up period expires, and to comply with reduction regulations; this commitment is ongoing[141](index=141&type=chunk) - The company committed that if the prospectus contains false records or other similar situations, it will legally repurchase all newly issued shares in the initial public offering and compensate investors for losses; this commitment is ongoing[143](index=143&type=chunk) - The company's controlling shareholder and actual controller, Wang Fuhai, committed to avoid horizontal competition and to offer business opportunities to the company; this commitment is ongoing[147](index=147&type=chunk) - The company committed to truthfully, accurately, and completely disclose shareholder information, and that there are no situations such as nominee shareholding, disputes, or improper benefit transfers; this commitment is ongoing[149](index=149&type=chunk) [Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties of Listed Companies](index=41&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20of%20Listed%20Companies) The company had no non-operating occupation of listed company funds by controlling shareholders or other related parties during the reporting period - During the reporting period, there was no non-operating occupation of listed company funds by controlling shareholders or other related parties[150](index=150&type=chunk) [Illegal External Guarantees](index=41&type=section&id=III.%20Illegal%20External%20Guarantees) The company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[151](index=151&type=chunk) [Appointment and Dismissal of Accounting Firms](index=41&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual financial report is unaudited - The company's semi-annual financial report is unaudited[152](index=152&type=chunk) [Board of Directors, Supervisory Board, and Audit Committee's Explanation on the "Non-Standard Audit Report" for the Current Reporting Period](index=41&type=section&id=V.%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Audit%20Committee's%20Explanation%20on%20the%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Current%20Reporting%20Period) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[153](index=153&type=chunk) [Board of Directors' Explanation on the "Non-Standard Audit Report" for the Previous Year](index=41&type=section&id=VI.%20Board%20of%20Directors'%20Explanation%20on%20the%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Previous%20Year) The company had no explanation regarding a non-standard audit report for the previous year during the reporting period - The company had no explanation regarding a non-standard audit report for the previous year during the reporting period[153](index=153&type=chunk) [Bankruptcy and Reorganization Matters](index=41&type=section&id=VII.%20Bankruptcy%20and%20Reorganization%20Matters) The company had no bankruptcy or reorganization matters during the reporting period - The company had no bankruptcy or reorganization matters during the reporting period[153](index=153&type=chunk) [Litigation Matters](index=41&type=section&id=VIII.%20Litigation%20Matters) The company had no significant litigation, arbitration, or other litigation matters during the current reporting period - The company had no significant litigation or arbitration matters during the current reporting period[154](index=154&type=chunk) - The company had no other litigation matters during the reporting period[154](index=154&type=chunk) [Penalties and Rectification](index=41&type=section&id=IX.%20Penalties%20and%20Rectification) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[154](index=154&type=chunk) [Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers](index=41&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholders%2C%20and%20Actual%20Controllers) The company had no integrity issues concerning itself, its controlling shareholders, or actual controllers during the reporting period - The company had no integrity issues concerning itself, its controlling shareholders, or actual controllers during the reporting period[155](index=155&type=chunk) [Significant Related Party Transactions](index=42&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company had no related party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or related party creditor-debtor transactions, nor did it engage in financial business with related financial companies - The company had no related party transactions related to daily operations during the reporting period[156](index=156&type=chunk) - The company had no related party transactions involving asset or equity acquisition or disposal during the reporting period[157](index=157&type=chunk) - The company had no related party creditor-debtor transactions during the reporting period[159](index=159&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company and related financial companies, or between financial companies controlled by the company and related parties[160](index=160&type=chunk)[161](index=161&type=chunk) [Significant Contracts and Their Performance](index=42&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no entrustment, contracting, significant guarantees, or significant daily operation contracts during the reporting period, but disclosed leasing matters as both lessee and lessor, including leasing out floors 6-23 of Yike Building B, totaling **11,908.03 square meters** of leased area - The company had no entrustment situations during the reporting period[163](index=163&type=chunk) - The company had no contracting situations during the reporting period[164](index=164&type=chunk) - The company leased multiple office spaces as a lessee and leased out floors 6-23 (excluding 603) of Yike Building B as a lessor, with **30** tenants and a total leased area of **11,908.03 square meters**[165](index=165&type=chunk)[166](index=166&type=chunk) - The company had no significant guarantee situations during the reporting period[167](index=167&type=chunk) - The company had no significant contracts related to daily operations or other significant contracts during the reporting period[168](index=168&type=chunk)[169](index=169&type=chunk) [Explanation of Other Significant Matters](index=44&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) During the reporting period, on June 4, 2025, company shareholder Wang Fuhai and **8** other transferors signed a share transfer agreement with Jiaoxin Huicheng (Jiaxing) Equity Investment Partnership (Limited Partnership), intending to transfer a total of **10,714,957** unrestricted tradable shares - On June 4, 2025, **9** transferors, including company shareholder Wang Fuhai, signed a share transfer agreement with Jiaoxin Huicheng (Jiaxing) Equity Investment Partnership (Limited Partnership)[170](index=170&type=chunk) - The transferors intend to transfer a total of **10,714,957** unrestricted tradable shares of the company to Jiaoxin Huicheng via agreement transfer[170](index=170&type=chunk) [Significant Matters of Company's Subsidiaries](index=44&type=section&id=XIV.%20Significant%20Matters%20of%20Company's%20Subsidiaries) The company had no significant matters concerning its subsidiaries during the reporting period - The company had no significant matters concerning its subsidiaries during the reporting period[171](index=171&type=chunk) Share Changes and Shareholder Information This section outlines changes in the company's share capital, shareholder structure, and the holdings of its directors, supervisors, and senior management [Share Changes](index=45&type=section&id=I.%20Share%20Changes) The company's total number of shares did not change during the reporting period, but due to the repurchase and cancellation of restricted shares, the total share capital and registered capital changed after the reporting period Share Changes (During Reporting Period) | Share Type | Quantity Before This Change (shares) | % Before This Change | Increase/Decrease in This Change (shares) | Quantity After This Change (shares) | % After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 60,727,229 | 28.73% | 0 | 60,727,229 | 28.73% | | II. Unrestricted Shares | 150,613,160 | 71.27% | 0 | 150,613,160 | 71.27% | | **III. Total Shares** | **211,340,389** | **100.00%** | **0** | **211,340,389** | **100.00%** | - On May 23, 2025, the company approved the repurchase and cancellation of **380,855** restricted shares; this matter was completed on July 15, 2025, resulting in a change in total share capital from **211.34 million shares** to **210.96 million shares**, with registered capital changing accordingly[174](index=174&type=chunk) - Changes in unrestricted shares during the reporting period[175](index=175&type=chunk) [Issuance and Listing of Securities](index=46&type=section&id=II.%20Issuance%20and%20Listing%20of%20Securities) The company had no issuance and listing of securities during the reporting period - The company had no issuance and listing of securities during the reporting period[175](index=175&type=chunk) [Number of Shareholders and Shareholding Information](index=46&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) As of the end of the reporting period, the total number of common shareholders was **9,688**; this section details the shareholdings of shareholders holding **5%** or more or the top **10** shareholders, including their shareholding percentages, quantities, changes, and pledge status, and explains the associated relationships between shareholders - The total number of common shareholders at the end of the reporting period was **9,688**[176](index=176&type=chunk) Top 10 Shareholders' Shareholding Information | Shareholder Name | Shareholder Nature | Shareholding % | Number of Shares Held at End of Reporting Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | Share Status | Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wang Fuhai | Domestic Natural Person | 10.91% | 23,049,802 | 17,287,351 | 5,762,451 | Pledged | 6,914,000 | | Shenzhen Lay-out Enterprise Management Consulting Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 8.16% | 17,255,563 | 0 | 17,255,563 | Not Applicable | 0 | | Zhu Xuhui | Domestic Natural Person | 5.19% | 10,976,104 | 8,232,078 | 2,744,026 | Not Applicable | 0 | | Chen Hongjun | Domestic Natural Person | 5.19% | 10,976,104 | 8,232,078 | 2,744,026 | Pledged | 3,000,000 | | Wang Xue | Domestic Natural Person | 5.19% | 10,976,103 | 0 | 10,976,103 | Not Applicable | 0 | | Jin Cheng | Domestic Natural Person | 3.64% | 7,683,320 | 5,762,490 | 1,920,830 | Pledged | 2,100,000 | | Niu Hui'en | Domestic Natural Person | 3.64% | 7,683,320 | 5,762,490 | 1,920,830 | Pledged | 1,920,000 | | Jiang Juntao | Domestic Natural Person | 3.29% | 6,948,695 | 5,211,521 | 1,737,174 | Pledged | 2,084,000 | | Guosen Securities Co., Ltd | State-owned Legal Person | 2.99% | 6,319,183 | 0 | 6,319,183 | Not Applicable | 0 | | Deng Jun | Domestic Natural Person | 2.90% | 6,135,895 | 0 | 6,135,895 | Not Applicable | 0 | - Wang Fuhai holds a **29.42%** stake in Shenzhen Lay-out Enterprise Management Consulting Partnership (Limited Partnership) and serves as its executive partner; both parties constitute a concerted action relationship[177](index=177&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=48&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, with specific details available in the 2024 annual report - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period[178](index=178&type=chunk) [Changes in Controlling Shareholders or Actual Controllers](index=48&type=section&id=V.%20Changes%20

Group 1 - The core viewpoint of the news is that Lei'ao Planning has shown fluctuations in its stock performance and financing activities, with a notable decrease in net financing and a mixed performance in revenue and profit [1][2]. - As of August 26, Lei'ao Planning's stock price increased by 1.28%, with a trading volume of 200 million yuan. The net financing amount was -3 million yuan, indicating more repayments than new purchases [1]. - The total financing and margin trading balance for Lei'ao Planning reached 124 million yuan, accounting for 3.38% of its market capitalization, which is above the 50th percentile level over the past year [1]. Group 2 - As of August 20, the number of shareholders for Lei'ao Planning was 9,895, a decrease of 1.96% from the previous period, while the average circulating shares per person increased by 2% to 15,221 shares [2]. - For the first quarter of 2025, Lei'ao Planning reported a revenue of 76.29 million yuan, a year-on-year decrease of 11.52%, while the net profit attributable to the parent company was 3.80 million yuan, reflecting a year-on-year increase of 9.32% [2]. - Since its A-share listing, Lei'ao Planning has distributed a total of 26.17 million yuan in dividends, with 13.57 million yuan distributed over the past three years [3].

Core Viewpoint - The company, Leo Planning (300989), is currently undergoing a compliance review process by the Shenzhen Stock Exchange regarding the transfer of shares, with uncertainties surrounding the final implementation and results [1] Group 1 - The share transfer matter is still in the normal procedural stage of compliance review by the Shenzhen Stock Exchange [1] - The company will announce any progress in accordance with regulations to keep investors informed [1] - Investors are advised to be aware of the investment risks associated with this uncertainty [1]