Group 1 - The core point of the news is that Guanshang Technology has experienced a significant decline in stock price, dropping 5.01% on September 3, with a total market value of 4.745 billion yuan and a cumulative decline of 11.91% over six consecutive days [1] - Guanshang Technology, established on February 11, 2009, and listed on December 6, 2021, focuses on the application of new generation information technology in the military industry, providing products and services related to equipment lifecycle management and intelligent weapon control [1] - The company's main business revenue composition includes 43.45% from artificial intelligence, 41.64% from equipment lifecycle management systems, and 14.91% from intelligent equipment [1] Group 2 - From the perspective of fund holdings, the Jiao Yin Schroder Fund has a significant position in Guanshang Technology, with its multi-strategy flexible allocation mixed fund holding 94,000 shares, accounting for 1.48% of the fund's net value [2] - The fund has incurred a floating loss of approximately 294,200 yuan today, with a total floating loss of 793,400 yuan during the six-day decline [2] - The Jiao Yin multi-strategy flexible allocation mixed fund has a total scale of 269 million yuan, with a year-to-date return of 8.96% and a one-year return of 11.15% [2]

Core Viewpoint - Guanshang Technology (301213.SZ) reported a revenue of 41.05 million yuan for the first half of 2025, marking a year-on-year growth of 9.19%, and a net profit attributable to shareholders of 1.43 million yuan, with a significant increase in non-recurring net profit by 372.29% [1] Group 1: Business Performance - The company has established a unique "AI+" core business model that integrates AI with lifecycle management systems and digital twin technology, enhancing its capabilities in the military and civilian sectors [2][3] - Guanshang Technology has successfully developed six models of small turbojet engines, with thrust levels ranging from 40 daN to 200 daN, expected to be completed for small batch trial production within the year [3] - The company signed a significant order worth 93.5 million yuan with a client, demonstrating strong customer recognition of its technology and products [3] Group 2: Technological Innovation - The company is advancing its capabilities in artificial intelligence and computing power, with a focus on integrating AI technology into defense applications [2][4] - Guanshang Technology has captured the strategic opportunity in the computing power sector, with a projected compound annual growth rate of 46.2% in China's intelligent computing power market from 2023 to 2028 [4][5] Group 3: Strategic Developments - The company plans to utilize unallocated fundraising for enhancing its digital capabilities, focusing on lifecycle management, digital twin technology, and intelligent equipment [6] - Guanshang Technology has established several subsidiaries to focus on artificial intelligence and related fields, indicating a commitment to innovation and market expansion [6] Group 4: Market Position and Future Outlook - The introduction of institutional investors is expected to enhance the company's governance structure and long-term development strategy [7][8] - The military industry is experiencing a growth phase, and Guanshang Technology is well-positioned to benefit from this trend due to its innovative capabilities and strategic focus on AI and computing power [8]

Group 1 - The core viewpoint of the article highlights that Guanshang Technology (301213) reported a mixed performance in its 2025 mid-year financial results, with revenue growth but a significant decline in net profit [1] - The total operating revenue for the period reached 41.05 million yuan, representing a year-on-year increase of 9.19%, while the net profit attributable to the parent company was 1.43 million yuan, down 52.74% year-on-year [1] - In the second quarter, the operating revenue was 23.71 million yuan, up 5.0% year-on-year, but the net profit attributable to the parent company fell sharply by 86.17% to 0.29 million yuan [1] Group 2 - The company's expense ratio has increased significantly, with total financial, sales, and management expenses amounting to 20.20 million yuan, which is 49.22% of total revenue, reflecting a year-on-year increase of 67.57% [1] - The gross profit margin was reported at 55.01%, showing a year-on-year increase of 21.87%, while the net profit margin decreased to 2.39%, down 63.0% year-on-year [1] - The company has a historical median ROIC of 10.73%, but faced a poor investment return in 2024 with a ROIC of -1.76%, indicating a fragile business model [2]

Core Insights - Guanshang Technology (301213.SZ) released its semi-annual report for 2025 on August 28, 2025, indicating a total of 4 institutional investors holding shares, amounting to 13.4848 million shares, which represents 16.86% of the total share capital [1] Institutional Holdings - The institutional investors include Sichuan Guanshang Development Technology Partnership (Limited Partnership), Chengdu Tongde Chuangke Investment Management Partnership (Limited Partnership) - Sichuan Xintongde Big Data Industry Venture Capital Partnership (Limited Partnership), and two mutual funds: Jiaoyin Multi-Strategy Return Flexible Allocation Mixed A and Wanjia Insight Progress Mixed Initiation A [1] - The total institutional holding percentage decreased by 1.43 percentage points compared to the previous quarter [1] Public Fund Disclosures - In this period, two new public funds were disclosed compared to the previous quarter, which are Jiaoyin Multi-Strategy Return Flexible Allocation Mixed A and Wanjia Insight Progress Mixed Initiation A [1] Social Security Fund - One social security fund, the National Social Security Fund 503 Portfolio, was not disclosed in this period compared to the previous quarter [1]

Group 1 - The core business of the company involves the application of self-controllable new generation information technology in the military industry, focusing on the informatization of defense equipment and equipment management [2] - As of June 30, the company had 17,700 shareholders, an increase of 102.54% compared to the previous period, with an average of 2,926 circulating shares per person, a decrease of 50.63% [2] - For the first half of 2025, the company achieved operating revenue of 41.05 million yuan, a year-on-year increase of 9.19%, while the net profit attributable to the parent company was 1.43 million yuan, a year-on-year decrease of 52.74% [2] Group 2 - On August 27, the company's stock price fell by 4.89%, with a trading volume of 179 million yuan [1] - The financing buy-in amount on that day was 16.48 million yuan, while the financing repayment was 26.42 million yuan, resulting in a net financing buy-in of -9.93 million yuan [1] - The total financing and securities lending balance as of August 27 was 92.77 million yuan, accounting for 1.78% of the circulating market value, which is above the 80th percentile level over the past year [1]

Core Viewpoint - The company reported a revenue of 41.05 million yuan for the first half of 2025, reflecting a year-on-year growth of 9.19% [1] - The net profit attributable to shareholders decreased by 52.74% to 1.43 million yuan [1] - The net profit excluding non-recurring gains and losses increased significantly by 372.79% to 1.12 million yuan [1] - Basic earnings per share stood at 0.0178 yuan [1] Financial Performance - Revenue for the first half of 2025: 41.05 million yuan, up 9.19% year-on-year [1] - Net profit attributable to shareholders: 1.43 million yuan, down 52.74% year-on-year [1] - Net profit excluding non-recurring items: 1.12 million yuan, up 372.79% year-on-year [1] - Basic earnings per share: 0.0178 yuan [1]

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 四川观想科技股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召开了第四届董事会第十六次会议，审议了《关于对控股子公司 减资的议案》。根据公司实际经营情况及发展规划需要，同意将控股 子公司观想传感（四川）科技有限公司（以下简称"观想传感"）的 注册资本由 7500 万元减至 450 万元。本次减资完成后，观想传感仍为 公司的控股子公司，公司合并报表的范围不会发生变动。 证券代码：301213 证券简称：观想科技 公告编号：2025-053 四川观想科技股份有限公司 关于对控股子公司减资的公告 6.经营范围：一般项目：机械设备研发；机电耦合系统研发；电子 专用材料研发；物联网技术研发；技术服务、技术开发、技术咨询、 技术交流、技术转让、技术推广；信息系统集成服务；工业互联网数 据服务；普通机械设备安装服务；环境保护监测；计算机软硬件及辅 助设备批发；计算机软硬件及辅助设备零售；工业控制计算机及系统 销售；电子产品销售；智能车载设备销售；货物进出口；技术进出口。 （除依法须经批准的项目外，凭营业执照依 ...

第一创业证券承销保荐有限责任公司 关于四川观想科技股份有限公司 使用部分闲置募集资金暂时补充流动资金的专项核查意见 第一创业证券承销保荐有限责任公司（以下简称"一创投行"或"保荐机构"） 作为四川观想科技股份有限公司（以下简称"观想科技"或"公司"）持续督导 的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管 规则》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监 管指引第 2 号——创业板上市公司规范运作》等有关规定，对观想科技使用部分 闲置募集资金暂时补充流动资金事项发表核查意见如下： 一、募集资金基本情况 四川观想科技股份有限公司（以下简称"公司"）经中国证券监督管理委员 会《关于同意四川观想科技股份有限公司首次公开发行股票注册的批复》（证监 许可【2021】3285 号）同意，并经深圳证券交易所同意，公司首次向社会公众 发行人民币普通股（A 股）股票 2,000.00 万股，每股面值人民币 1.00 元，每股 发行价格为 31.50 元。本次募集资金总额人民币 63,000.00 万元，扣除各项发行 费用人民币 6,089.98 万元，实际募集资金净额人民币 56 ...

四川观想科技股份有限公司 关联交易管理制度 四川观想科技股份有限公司 关联交易管理制度 第一章 总则 第一条 为保证四川观想科技股份有限公司（以下简称"公司"）与关联人 之间的关联交易符合公平、公正、公开的原则，确保公司的关联交易行为不损害 公司和非关联股东的合法权益，根据《中华人民共和国公司法》《中华人民共和 国证券法》《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"） 《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》等有关法 律法规、规范性文件及《四川观想科技股份有限公司章程》（以下简称"《公司 章程》"）的有关规定，制定本制度。 第二条 公司关联交易应当定价公允、审议程序合规、信息披露规范。公司 应当积极通过资产重组、整体上市等方式减少关联交易。 公司交易与关联交易行为应当合法合规，不得隐瞒关联关系，不得通过将关 联交易非关联化规避相关审议程序和信息披露义务。相关交易不得存在导致或者 可能导致公司出现被控股股东、实际控制人及其他关联人非经营性资金占用、为 关联人违规提供担保或者其他被关联人侵占利益的情形。 第三条 公司董事会下设的审计委员会，履行公司关联交易控制和日常管理 ...

四川观想科技股份有限公司 董事、高级管理人员持股及变动管理制度 四川观想科技股份有限公司 董事、高级管理人员持股及变动管理制度 第一章 总则 第一条 为规范四川观想科技股份有限公司（以下简称"公司"）董事、高 级管理人员所持本公司股份及其变动的管理，进一步明确管理程序，确保信息 披露工作合规，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《深圳证券交易所 创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创业 板上市公司规范运作》《上市公司董事和高级管理人员所持本公司股份及其变 动管理规则》等相关法律法规、规范性文件及《公司章程》的相关规定，并结 合公司实际管理需求，制定本制度。 第二条 本制度适用于公司董事和高级管理人员所持本公司股份及其变动 的管理。本制度所称高级管理人员指公司总经理、副总经理、董事会秘书和财 务负责人。 第三条 董事和高级管理人员所持公司股份，是指登记在其名下和利用他人 账户持有的所有本公司股份；董事和高级管理人员从事融资融券交易的，还包 括记载在其信用证券账户内的本公司股份。 第四条 董事、高级管理人员应 ...