北方国际合作股份有限公司 2025 年半年度报告 2025 年 8 月 22 日 北方国际合作股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 和连带的法律责任。 公司负责人纪巍、主管会计工作负责人倪静及会计机构负责人(会计主管 人员)陈磊声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 1 | 目录 | | --- | | 第一节 | 重要提示、目录和释义 | 1 | | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | 5 | | 第三节 | 管理层讨论与分析 | 8 | | 第四节 | 公司治理、环境和社会 | 21 | | 第五节 | 重要事项 | 23 | | 第六节 | 股份变动及股东情况 | 34 | | 第七节 | 债券相关情况 | 38 | | 第八节 | 财务报告 | 41 | 北方国际合作股份有限 ...

股票代码： 301091 202 5 深城交 半年度报告 2025-033 深圳市城市交通规划设计研究中心股份有限公司 深圳市城市交通规划设计研究中心股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 和连带的法律责任。 公司负责人林涛、主管会计工作负责人唐敏及会计机构负责人(会计主管 人员)唐敏声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 目录 | | --- | | 第一节 重要提示、目录和释义 1 | | --- | | 第二节 公司简介和主要财务指标 7 | | 第三节 管理层讨论与分析 10 | | 第四节 公司治理、环境和社会 43 | | 第五节 重要事项 47 | | 第六节 股份变动及股东情况 53 | | 第七节 债券相关情况 58 | | 第八节 财务报告 59 | 深圳市城市交通规划设计研究中心股份有限公司 202 ...

北京首都在线科技股份有限公司 2025 年半年度报告全文 1 北京首都在线科技股份有限公司 北京首都在线科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人曲宁、主管会计工作负责人张丽莎及会计机构负责人(会计主 管人员)翟栩超声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 2025 年半年度报告 2025 年 8 月 本报告中涉及未来的计划、业绩预测、发展战略等前瞻性陈述，均不构成 公司对任何投资者及相关人士的实质承诺，投资者及相关人士均应对此保持 足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | | | 第一节 重要提示、目录和释义 2 | | | --- | --- | | 第二节 公司简介和主要财务指标 9 | | | 一、公司简介 9 | | | 二、联系人和联系方式 9 | | | 三 ...

2025 年半年度报告 2025 年 8 月 杭州顺网科技股份有限公司 2025 年半年度报告全文 杭州顺网科技股份有限公司 1 杭州顺网科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人华勇、主管会计工作负责人郑巧玲及会计机构负责人(会计主 管人员)陆玉群声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 半年度报告中如有涉及未来计划等前瞻性陈述，均不构成公司对投资者 的实质承诺，投资者及相关人士均应当对此保持足够的风险认识，并且应当 理解计划、预测与承诺之间的差异，请投资者注意投资风险。 公司需遵守《深圳证券交易所上市公司自律监管指引第 4 号——创业板 行业信息披露》中的"互联网游戏业务"的披露要求。 公司在本报告第三节"管理层讨论与分析——公司面临的风险和应对措 施"部分，详细描述了公司经营中可能存在的风险与应对措施，敬请投资者 关注相关内容。 公司计划不派发现金红利，不送红股 ...

深圳市倍轻松科技股份有限公司2025 年半年度报告 公司代码：688793 公司简称：倍轻松 深圳市倍轻松科技股份有限公司 2025 年半年度报告 1 / 194 深圳市倍轻松科技股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述公司在生产经营过程中可能面临的各种风险及应对措施，敬请查 阅本报告"第三节管理层讨论与分析"之"四、风险因素"。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人马学军、主管会计工作负责人邓玲玲及会计机构负责人（会计主管人员）夏小 梅声明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 为保证公司正常经营，实现可持续发展，更好地维护全体股东的长远利益，公司拟 2025 年半 年度不进行利润分配，不派发现金股利，不送红股，不进行资本公积金转增股本和其他形式的利 润分配。 七、 是否存在公司 ...

Section I Important Notes, Table of Contents, and Definitions [Important Notes](index=2&type=section&id=Important%20Notes) The board and management assure report accuracy, highlight operating risks, and confirm no dividends or bonus shares for the period - The company's board of directors, supervisory board, and senior management commit to the truthfulness, accuracy, and completeness of the semi-annual report[5](index=5&type=chunk) - Investors are advised to pay attention to the operating risks and countermeasures described in Section III "Management Discussion and Analysis"[6](index=6&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for this half-year period[7](index=7&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section outlines the report's nine main chapters, covering operations, finance, governance, and key events - The report is divided into nine main chapters, covering various aspects such as company operations, finance, governance, and significant matters[10](index=10&type=chunk) [List of Documents for Inspection](index=4&type=section&id=List%20of%20Documents%20for%20Inspection) This section specifies the types and location of documents for inspection, including signed financial statements and original public disclosures - Documents for inspection include financial statements signed and sealed by the legal representative, chief accounting officer, and head of the accounting department[12](index=12&type=chunk) - Documents for inspection also include original copies of all company documents publicly disclosed on information disclosure media designated by the China Securities Regulatory Commission during the reporting period[13](index=13&type=chunk) - All documents for inspection are kept at the company's securities department[15](index=15&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms like reporting period, IoT, and mobile internet industrial park, ensuring clear understanding - "Reporting Period" refers to January 1, 2025, to June 30, 2025[16](index=16&type=chunk) - "Internet of Things" (IoT) is defined as a network enabling all ordinary objects with independent functions to interconnect[16](index=16&type=chunk) - "Beiwei Mobile Internet Industrial Park" refers to the high-end commercial office building center invested and constructed by the company, focusing on the mobile internet sector[16](index=16&type=chunk) Section II Company Profile and Key Financial Indicators [I. Company Profile](index=6&type=section&id=I.%20Company%20Profile) The company, listed on the Shenzhen Stock Exchange as 'Beiwei Technology' (002148), has Fu Lemin as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Beiwei Technology | | Stock Code | 002148 | | Listed Stock Exchange | Shenzhen Stock Exchange | | Chinese Name | Beijing Beiwei Communication Technology Co., Ltd. | | Legal Representative | Fu Lemin | [II. Contact Person and Information](index=6&type=section&id=II.%20Contact%20Person%20and%20Information) This section provides detailed contact information for the Board Secretary and Securities Affairs Representative, including names, addresses, and contact details Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Huang Xiao | 26th Floor, Guoxing Building, No. 22 South Capital Gymnasium Road, Haidian District, Beijing | 010-88356661 | 010-88356273 | ir@bw30.com | | Securities Affairs Representative | Feng Jingjing | 26th Floor, Guoxing Building, No. 22 South Capital Gymnasium Road, Haidian District, Beijing | 010-88356661 | 010-88356273 | ir@bw30.com | [III. Other Information](index=6&type=section&id=III.%20Other%20Information) The company's registered address, office address, website, email, and information disclosure locations remained unchanged, as detailed in the 2024 annual report - The company's contact information remained unchanged during the reporting period, as detailed in the 2024 annual report[20](index=20&type=chunk) - Information disclosure and storage locations remained unchanged during the reporting period, as detailed in the 2024 annual report[21](index=21&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2025, revenue grew **47.26%** to **CNY 194 million**, but net profit attributable to shareholders declined **129.52%** to **CNY -3.13 million**, resulting in a temporary loss H1 2025 Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period (CNY) | Prior Year Period (CNY) | Change from Prior Year Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 194,485,433.19 | 132,068,062.50 | 47.26% | | Net Profit Attributable to Shareholders of Listed Company | -3,130,489.92 | 10,604,799.86 | -129.52% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | -6,740,898.23 | 4,171,392.83 | -261.60% | | Net Cash Flow from Operating Activities | -7,036,188.84 | 11,911,925.26 | -159.07% | | Basic Earnings Per Share (CNY/share) | -0.01 | 0.02 | -150.00% | | Diluted Earnings Per Share (CNY/share) | -0.01 | 0.02 | -150.00% | | Weighted Average Return on Net Assets | -0.26% | 0.87% | -1.13% | | Indicator | End of Current Reporting Period (CNY) | End of Prior Year (CNY) | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 1,402,070,932.78 | 1,389,739,710.96 | 0.89% | | Net Assets Attributable to Shareholders of Listed Company | 1,217,855,292.20 | 1,227,413,385.91 | -0.78% | [V. Differences in Accounting Data under Domestic and International Accounting Standards](index=7&type=section&id=V.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20International%20Accounting%20Standards) The company reported no differences in net profit and net assets between financial reports under international/overseas and Chinese accounting standards - The company's financial reports for the reporting period showed no differences in net profit and net assets when disclosed under International Accounting Standards versus Chinese Accounting Standards[24](index=24&type=chunk) - The company's financial reports for the reporting period showed no differences in net profit and net assets when disclosed under overseas accounting standards versus Chinese Accounting Standards[25](index=25&type=chunk) [VI. Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) Total non-recurring gains and losses were **CNY 3.61 million**, mainly from fair value changes in financial assets, positively impacting net profit after tax H1 2025 Non-Recurring Gains and Losses and Amounts | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains or losses from disposal of non-current assets | -48,210.08 | | | Gains or losses from changes in fair value of financial assets and liabilities, and investment gains from disposal of financial assets and liabilities, excluding effective hedging activities related to normal business operations | 4,307,905.01 | Primarily investment income from wealth management products and equity investments classified as fair value through profit or loss | | Other non-operating income and expenses apart from the above | 104.38 | | | Less: Income tax impact | 577,071.95 | | | Minority interest impact (after tax) | 72,319.05 | | | Total | 3,610,408.31 | | - The company does not classify non-recurring gains and losses as recurring gains and losses[28](index=28&type=chunk) Section III Management Discussion and Analysis [I. Main Businesses Engaged by the Company During the Reporting Period](index=9&type=section&id=I.%20Main%20Businesses%20Engaged%20by%20the%20Company%20During%20the%20Reporting%20Period) In H1 2025, operating revenue grew **47.26%** to **CNY 194 million**, driven by IoT and mobile games, but increased marketing and share-based payment expenses led to a **CNY -3.13 million** net loss - In H1 2025, the company achieved operating revenue of **CNY 194,485,433.19**, a year-on-year increase of **47.26%**[30](index=30&type=chunk) - Revenue from IoT applications and other mobile communication services was **CNY 126,610,551.96**, a year-on-year increase of **64.08%**[30](index=30&type=chunk) - Mobile game revenue increased by **84.61%** year-on-year[30](index=30&type=chunk) - Net profit attributable to shareholders of the listed company was **CNY -3,130,489.92**, resulting in a temporary loss, primarily due to increased market marketing investment and share-based payment expenses for restricted stock[30](index=30&type=chunk) [ (I) IoT Applications and Other Mobile Communication Services](index=9&type=section&id=(I)%20IoT%20Applications%20and%20Other%20Mobile%20Communication%20Services) The company strengthens IoT connection management and services, building a multi-operator supply system and focusing on key industry clients to enhance platform capabilities and competitiveness - In H1 2025, mobile IoT terminal users reached **2.831 billion**, a net increase of **175 million**, indicating continued growth in the IoT market[31](index=31&type=chunk) - The company increased resource expansion efforts, building a supply guarantee system covering multiple operators, cities, and entities, flexibly responding to market price changes[31](index=31&type=chunk) - The company focuses on key industries, collaborating with leading clients in video media, autonomous driving, and surveying, and has developed replicable standardized solutions in the video media industry[32](index=32&type=chunk) [ (II) Mobile Game Business](index=9&type=section&id=(II)%20Mobile%20Game%20Business) In H1 2025, China's mobile game market grew, with mini-games strong; the company focuses on mini-games and integrated R&D-operations, with 'SimCity' stable and new titles promising long-term growth - In H1 2025, the actual sales revenue of China's domestic mobile game market was **CNY 125.309 billion**, a year-on-year increase of **16.55%**[33](index=33&type=chunk) - The mini-game market achieved actual sales revenue of **CNY 23.276 billion**, a year-on-year increase of **40.2%**[33](index=33&type=chunk) - The company's evergreen game "SimCity" maintained stable operations, and the mini-game "Simple Dungeon" performed well[35](index=35&type=chunk) [ (III) Beiwei Mobile Internet Industrial Park](index=10&type=section&id=(III)%20Beiwei%20Mobile%20Internet%20Industrial%20Park) Facing rising vacancies in Nanjing's office market, Beiwei International Center maintained stable occupancy through optimized rental strategies, facility upgrades, and one-stop services - At the end of H1 2025, the vacancy rate for premium office buildings in Nanjing rose to **29.0%**[36](index=36&type=chunk) - Beiwei International Center optimized its rental strategy, implemented intelligent upgrades to public areas, and added shared facilities such as meeting rooms and roadshow halls[37](index=37&type=chunk) - Through a smart building management system, the center provides one-stop services like business registration and policy application, and co-hosted industry matchmaking events, achieving stable occupancy in H1[37](index=37&type=chunk) [II. Analysis of Core Competencies](index=10&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core competencies in R&D, brand, operational licenses, management, and strategic layout establish competitive barriers and sustainable development in IoT and mobile games - The company has built a comprehensive R&D system, from underlying technology research and platform development to industry solution creation, deepening product and service integration with vertical industries[38](index=38&type=chunk) - The company has established solid strategic cooperation relationships with telecom operators and built a strong brand in mobile games and IoT applications[39](index=39&type=chunk) - The company holds multiple key operating licenses, including cross-regional value-added telecommunications business licenses (virtual operator licenses) and online publishing service licenses[41](index=41&type=chunk) - The company is committed to building an agile and efficient organizational structure and decision-making process, enhancing team cohesion, enthusiasm, and stability through long-term incentive mechanisms[42](index=42&type=chunk) - The company successfully seized three business transformation opportunities, focusing on IoT connection services as a strategic priority, demonstrating strong strategic planning capabilities from its management team[43](index=43&type=chunk) [III. Analysis of Main Business](index=11&type=section&id=III.%20Analysis%20of%20Main%20Business) In H1 2025, operating revenue grew **47.26%**, driven by IoT and mobile games, but increased costs and expenses led to a net loss; IT services accounted for **84.37%** of revenue, growing **68.36%** Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (CNY) | Prior Year Period (CNY) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 194,485,433.19 | 132,068,062.50 | 47.26% | Primarily driven by year-on-year growth in IoT application business and mobile game business revenue | | Operating Cost | 121,976,486.36 | 76,937,599.83 | 58.54% | Primarily due to increased costs driven by revenue growth | | Selling Expenses | 50,127,495.86 | 17,810,020.55 | 181.46% | Primarily due to increased market marketing efforts and business promotion expenses in the current period | | Administrative Expenses | 14,094,821.18 | 12,819,508.82 | 9.95% | Primarily due to increased restricted stock expenses recognized in the current period | | Net Cash Flow from Operating Activities | -7,036,188.84 | 11,911,925.26 | -159.07% | Primarily due to increased business promotion expenditures and increased prepayments to reduce procurement unit costs in the current period | Operating Revenue Composition (by Industry, Product, Region) | Category | Item | Current Reporting Period Amount (CNY) | Proportion of Operating Revenue | Prior Year Period Amount (CNY) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Information Technology Services | 164,091,812.01 | 84.37% | 97,466,215.09 | 73.80% | 68.36% | | | Industrial Park Services | 29,672,266.41 | 15.26% | 33,853,540.43 | 25.63% | -12.35% | | **By Product** | IoT Applications and Other Mobile Communication Services | 126,610,551.96 | 65.10% | 77,163,599.71 | 58.43% | 64.08% | | | Mobile Game Business | 37,481,260.05 | 19.27% | 20,302,615.38 | 15.37% | 84.61% | | | Mobile Internet Industrial Park | 29,672,266.41 | 15.26% | 33,853,540.43 | 25.63% | -12.35% | | **By Region** | North China | 59,413,082.55 | 30.55% | 38,906,362.26 | 29.46% | 52.71% | | | East China | 35,220,126.55 | 18.11% | 36,416,336.54 | 27.57% | -3.28% | | | Other Regions | 99,852,224.09 | 51.34% | 66,763,363.79 | 62.97% | 75.97% | Main Business Cost Composition | Cost Component | Current Reporting Period Amount (CNY) | Proportion of Operating Cost | Prior Year Period Amount (CNY) | Proportion of Operating Cost | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Information Resource Procurement | 88,349,275.33 | 72.43% | 44,742,951.72 | 58.15% | 97.46% | | Partner Revenue Share | 18,169,160.78 | 14.90% | 17,793,317.28 | 23.13% | 2.11% | | Production System Maintenance | 4,513,334.72 | 3.70% | 3,215,682.97 | 4.18% | 40.35% | | Property Maintenance | 4,312,269.60 | 3.54% | 6,346,596.54 | 8.25% | -32.05% | | Depreciation and Amortization | 5,404,438.37 | 4.43% | 4,727,881.12 | 6.15% | 14.31% | | Other Costs | 1,168,948.56 | 0.96% | 55,616.20 | 0.07% | 2,001.81% | - Other costs increased by **2001.81%** compared to the prior year, primarily due to increased warehousing and logistics costs[53](index=53&type=chunk) - Information resource procurement increased by **97.46%** compared to the prior year, primarily due to increased IoT business revenue and scale expansion[54](index=54&type=chunk) - Property maintenance costs decreased by **32.05%** compared to the prior year, primarily due to reduced revenue from the mobile internet industrial park[55](index=55&type=chunk) [IV. Analysis of Non-Core Business](index=14&type=section&id=IV.%20Analysis%20of%20Non-Core%20Business) During the reporting period, the company had no non-core businesses [V. Analysis of Assets and Liabilities](index=14&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At period-end, total assets slightly increased by **0.89%**, net assets attributable to shareholders slightly decreased by **0.78%**; long-term equity investments rose **30.32%**, while transactional financial assets decreased and liabilities increased Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (CNY) | Proportion of Total Assets | Amount at End of Prior Year (CNY) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 33,882,841.74 | 2.42% | 48,043,503.20 | 3.46% | -1.04% | No significant change | | Accounts Receivable | 32,917,462.29 | 2.35% | 14,512,210.21 | 1.04% | 1.31% | No significant change | | Long-Term Equity Investments | 145,970,310.50 | 10.41% | 112,010,290.01 | 8.06% | 2.35% | Primarily due to increased investments in the current period | | Transactional Financial Assets | 459,139,409.35 | 32.75% | 491,256,683.71 | 35.35% | -2.60% | Primarily due to a larger amount of redeemed wealth management products in the current period | | Contract Liabilities | 60,159,512.71 | 4.29% | 43,281,832.98 | 3.11% | 1.18% | No significant change | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (CNY) | Fair Value Change in Current Period (CNY) | Amount Purchased in Current Period (CNY) | Amount Sold in Current Period (CNY) | Ending Balance (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Transactional Financial Assets | 491,256,683.71 | 4,177,257.94 | 50,000,000.00 | 86,294,532.30 | 459,139,409.35 | | Other Non-Current Financial Assets | 24,410,000.00 | | | | 24,410,000.00 | | Subtotal of Financial Assets | 515,666,683.71 | 4,177,257.94 | 50,000,000.00 | 86,294,532.30 | 483,549,409.35 | | Financial Liabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - As of the end of the reporting period, there were no restrictions on the company's asset rights[62](index=62&type=chunk) [VI. Analysis of Investment Status](index=16&type=section&id=VI.%20Analysis%20of%20Investment%20Status) Total investment increased **250%** to **CNY 35 million**, mainly from capital injection into Beijing Baishi Hekang Pharmaceutical Technology; no securities, derivative, or raised fund investments were made Investment Amount During Reporting Period | Investment Amount in Reporting Period (CNY) | Investment Amount in Prior Year Period (CNY) | Change Percentage | | :--- | :--- | :--- | | 35,000,000.00 | 10,000,000.00 | 250.00% | Significant Equity Investments Acquired During Reporting Period | Investee Company Name | Main Business | Investment Method | Investment Amount (CNY) | Shareholding Ratio | Source of Funds | Investment Progress | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Beijing Baishi Hekang Pharmaceutical Technology Co., Ltd. | Biomedical Technology | Capital Increase | 35,000,000.00 | 10.79% | Own Funds | Completed | - The company had no securities investments during the reporting period[65](index=65&type=chunk) - The company had no derivative investments during the reporting period[67](index=67&type=chunk) - The company had no use of raised funds during the reporting period[68](index=68&type=chunk) [VII. Significant Asset and Equity Sales](index=17&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Sales) The company did not undertake any significant asset or equity sales during the reporting period - The company did not sell significant assets during the reporting period[69](index=69&type=chunk) - The company did not sell significant equity during the reporting period[70](index=70&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=17&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Beijing Beiwei Hive IoT Technology, an IoT subsidiary, reported a **CNY -2.74 million** net loss; the company invests in IoT supply chain firms like Tianyu Jingwei and Picocom to enhance industrial synergy Major Subsidiaries and Associate Companies with Net Profit Impact Exceeding 10% | Company Name | Company Type | Main Business | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Beijing Beiwei Hive IoT Technology Co., Ltd. | Subsidiary | IoT Business | 53,800,000.00 | 178,571,891.84 | 52,061,061.84 | 149,483,843.29 | -2,737,376.06 | -2,737,480.44 | - The company strategically invests in IoT sub-sectors such as Tianyu Jingwei (5G networked drones), TaosData (time-series big data analytics), Picocom Microelectronics (5G small cell chips), and Beijing Xinlian Chuangzhan (UHF RFID technology)[71](index=71&type=chunk) [IX. Structured Entities Controlled by the Company](index=17&type=section&id=IX.%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[72](index=72&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=18&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces market, macroeconomic, new business, technology, talent, and investment risks, responding with market monitoring, R&D, talent optimization, and refined investment decision systems - Market environment risks: The IoT industry faces accelerated technological iteration and intense competition; the gaming market sees declining demographic dividends and increased player demand for quality. Countermeasures: Establish market monitoring mechanisms, continuously optimize product performance and service differentiation; promote gameplay innovation and creative upgrades, enhance operational refinement[73](index=73&type=chunk) - Macroeconomic and policy risks: IoT and gaming businesses are affected by industry regulatory policies and changes in partner rules. Countermeasures: Closely monitor policy changes, strictly comply with regulations, and promptly adjust business strategies[74](index=74&type=chunk) - New business expansion uncertainty risks: Slow commercialization or long return cycles for new IoT businesses; deviations in game business segment selection. Countermeasures: Adopt a "technology pre-research + scenario validation" model, establish agile development mechanisms; optimize existing game products, improve project evaluation and revenue forecasting systems[75](index=75&type=chunk) - Technology R&D and iteration risks: Failure to timely advance technology upgrades and product iteration will weaken competitiveness. Countermeasures: Continuously increase R&D investment, consolidate technological barriers, and build a strong product moat[76](index=76&type=chunk) - Talent structure and succession planning risks: Talent supply and succession planning cannot meet development needs. Countermeasures: Continuously strengthen talent acquisition, training, and optimal allocation, enhance core backbone and management team building[77](index=77&type=chunk) - Investment and ecosystem integration risks: Capital operations in emerging fields may involve valuation deviations, liquidity restrictions, and sub-optimal post-investment synergy. Countermeasures: Adhere to safe and prudent investment principles, improve the investment decision-making system, and strengthen post-investment tracking and risk monitoring[78](index=78&type=chunk) [XI. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=18&type=section&id=XI.%20Formulation%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[79](index=79&type=chunk) - The company has not disclosed a valuation enhancement plan[79](index=79&type=chunk) [XII. Implementation of "Quality and Return Dual Improvement" Action Plan](index=19&type=section&id=XII.%20Implementation%20of%20%22Quality%20and%20Return%20Dual%20Improvement%22%20Action%20Plan) The company has not disclosed an announcement regarding the 'Quality and Return Dual Improvement' action plan - The company has not disclosed an announcement regarding the "Quality and Return Dual Improvement" action plan[80](index=80&type=chunk) Section IV Corporate Governance, Environment, and Society [I. Changes in Directors, Supervisors, and Senior Management](index=19&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Supervisory Board Chairman Wang Pengjin and Supervisors Zou Bin and Duan Jianming resigned due to termination of employment during the period Changes in Directors, Supervisors, and Senior Management | Name | Position | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Wang Pengjin | Chairman of the Supervisory Board | Resignation | April 29, 2025 | Termination of employment | | Zou Bin | Supervisor | Resignation | April 29, 2025 | Termination of employment | | Duan Jianming | Supervisor | Resignation | April 29, 2025 | Termination of employment | [II. Profit Distribution and Capital Reserve Conversion to Share Capital in This Reporting Period](index=19&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20in%20This%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital increase from capital reserves for this half-year period - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the half-year period[82](index=82&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=19&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The 2024 restricted stock incentive plan was adjusted, with **2.524 million** shares repurchased/cancelled due to departures/unmet conditions, and **510,000** reserved shares granted to 11 grantees and registered - The company repurchased and cancelled **280,000** restricted shares granted to 6 departing incentive recipients that had not yet been unlocked[84](index=84&type=chunk) - The company repurchased and cancelled **2,244,000** restricted shares due to the first unlocking condition of the initial grant under the 2024 restricted stock incentive plan not being met[84](index=84&type=chunk) - The company granted **510,000** reserved restricted shares to 11 incentive recipients on April 17, 2025, with registration completed in June 2025[85](index=85&type=chunk) - The company had no employee stock ownership plans or other employee incentive measures during the reporting period[86](index=86&type=chunk) [IV. Environmental Information Disclosure](index=20&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 listed company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law[86](index=86&type=chunk) [V. Social Responsibility](index=20&type=section&id=V.%20Social%20Responsibility) Adhering to its core values, the company actively fulfills social responsibilities, protecting shareholder, employee, supplier, and customer rights, and pursuing sustainable development with a low-carbon lifestyle - The company values the interests of shareholders, especially small and medium-sized shareholders, ensuring their right to know, participate, and vote through various means, and consistently distributing profits[86](index=86&type=chunk) - The company prioritizes employee rights protection, fully implementing the Labor Law, establishing a competitive compensation and benefits system, and focusing on employee career development and health management[87](index=87&type=chunk) - The company values the protection of supplier and customer rights, strengthening supervision in procurement and sales to create fair, just, and transparent transaction opportunities[87](index=87&type=chunk) - The company adheres to a sustainable development strategy, focusing on energy consumption and promoting a low-carbon lifestyle among employees[87](index=87&type=chunk) Section V Significant Matters [I. Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=21&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) No fulfilled or overdue unfulfilled commitments by the controlling shareholder, shareholders, related parties, acquirers, or the company were reported - During the reporting period, there were no fulfilled or overdue unfulfilled commitments by the controlling shareholder, shareholders, related parties, acquirers, or the company[90](index=90&type=chunk) [II. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company](index=21&type=section&id=II.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) During the reporting period, there were no non-operating funds occupied by the controlling shareholder or other related parties from the listed company - During the reporting period, there were no non-operating funds occupied by the controlling shareholder or other related parties from the listed company[91](index=91&type=chunk) [III. Illegal External Guarantees](index=21&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[92](index=92&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=21&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual financial report was unaudited - The company's semi-annual report was unaudited[93](index=93&type=chunk) [V. Explanation by the Board of Directors and Supervisory Board on "Non-Standard Audit Report" for This Reporting Period](index=21&type=section&id=V.%20Explanation%20by%20the%20Board%20of%20Directors%20and%20Supervisory%20Board%20on%20%22Non-Standard%20Audit%20Report%22%20for%20This%20Reporting%20Period) There was no non-standard audit report for the company during the reporting period - There was no non-standard audit report for the company during the reporting period[94](index=94&type=chunk) [VI. Explanation by the Board of Directors on "Non-Standard Audit Report" for the Previous Year](index=21&type=section&id=VI.%20Explanation%20by%20the%20Board%20of%20Directors%20on%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Previous%20Year) There was no non-standard audit report for the company during the reporting period - There was no non-standard audit report for the company during the reporting period[94](index=94&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=21&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[94](index=94&type=chunk) [VIII. Litigation Matters](index=21&type=section&id=VIII.%20Litigation%20Matters) The company had no significant litigation, arbitration, or other litigation matters during the reporting period - The company had no significant litigation or arbitration matters during this reporting period[95](index=95&type=chunk) - The company had no other litigation matters during this reporting period[95](index=95&type=chunk) [IX. Penalties and Rectification](index=22&type=section&id=IX.%20Penalties%20and%20Rectification) There were no penalties or rectification situations for the company during the reporting period - There were no penalties or rectification situations for the company during the reporting period[96](index=96&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=22&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) Mr. Fu Lemin, the controlling shareholder and actual controller, maintained good integrity, with no unfulfilled court judgments or overdue large debts - Mr. Fu Lemin, the company's controlling shareholder and actual controller, had no unfulfilled court judgments or overdue large debts during the reporting period[97](index=97&type=chunk) [XI. Significant Related Party Transactions](index=22&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) The company had no related party transactions concerning daily operations, asset/equity acquisitions/disposals, joint external investments, related party debts, or dealings with affiliated finance companies - The company had no related party transactions related to daily operations during the reporting period[98](index=98&type=chunk) - The company had no related party transactions involving asset or equity acquisition or disposal during the reporting period[99](index=99&type=chunk) - The company had no related party debt transactions during the reporting period[101](index=101&type=chunk) - The company had no other significant related party transactions during the reporting period[104](index=104&type=chunk) [XII. Significant Contracts and Their Performance](index=23&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no entrustment, contracting, leasing, or significant guarantee matters; wealth management had an outstanding balance of **CNY 540.77 million** with no overdue amounts, and no other significant contracts - The company had no entrustment situations during the reporting period[105](index=105&type=chunk) - The company had no contracting situations during the reporting period[106](index=106&type=chunk) - The company had no leasing situations during the reporting period[107](index=107&type=chunk) - The company had no significant guarantee situations during the reporting period[108](index=108&type=chunk) Wealth Management Status | Specific Type | Source of Wealth Management Funds | Amount of Wealth Management Transactions (CNY ten thousand) | Unexpired Balance (CNY ten thousand) | Overdue Unrecovered Amount (CNY ten thousand) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 19,881.56 | 54,077.33 | 0 | | Total | | 19,881.56 | 54,077.33 | 0 | - The company had no other significant contracts during the reporting period[111](index=111&type=chunk) [XIII. Explanation of Other Significant Matters](index=23&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) On April 17, 2025, the board approved amending the Articles of Association and abolishing the supervisory board, with the audit committee assuming its functions, a resolution approved by shareholders - On April 17, 2025, the company's board of directors approved the "Proposal on Amending the Articles of Association and Abolishing the Supervisory Board"[112](index=112&type=chunk) - The company will no longer establish a supervisory board, and the audit committee of the board of directors will exercise the functions of the supervisory board as stipulated by the Company Law[112](index=112&type=chunk) - This matter was approved by the 2024 Annual General Meeting of Shareholders on April 29, 2025[112](index=112&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=24&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) The company had no significant subsidiary matters during the reporting period - The company had no significant subsidiary matters during the reporting period[113](index=113&type=chunk) Section VI Share Changes and Shareholder Information [I. Share Change Status](index=25&type=section&id=I.%20Share%20Change%20Status) Total share capital decreased by **2,014,000** shares due to restricted stock repurchases, cancellations, and new grants; restricted shares decreased by **1,985,875** shares, and unrestricted shares by **28,125** shares Share Change Status | Item | Number Before This Change (shares) | Proportion Before This Change | Increase/Decrease in This Change (shares) | Number After This Change (shares) | Proportion After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 111,655,594 | 19.90% | -1,985,875 | 109,669,719 | 19.62% | | III. Total Shares | 561,001,330 | 100.00% | -2,014,000 | 558,987,330 | 100.00% | - Total share capital decreased by **2,014,000** shares, primarily due to the repurchase and cancellation of 2024 restricted shares and new grants[116](index=116&type=chunk) - The company repurchased and cancelled **2,524,000** restricted shares[117](index=117&type=chunk) - The company granted **510,000** reserved restricted shares[118](index=118&type=chunk) Impact of Share Changes on Financial Indicators | Item | Before Share Change | After Share Change | | :--- | :--- | :--- | | Total Share Capital (shares) | 561,001,330.00 | 558,987,330.00 | | H1 2025 Basic Earnings Per Share (CNY) | -0.01 | -0.01 | | H1 2025 Diluted Earnings Per Share (CNY) | -0.01 | -0.01 | | H1 2025 Net Assets Per Share (CNY) | 2.17 | 2.18 | [II. Securities Issuance and Listing](index=27&type=section&id=II.%20Securities%20Issuance%20and%20Listing) On April 17, 2025, the company granted **510,000** reserved restricted shares at **CNY 3.31/share** to 11 grantees, listed on June 17, 2025, and currently under lock-up Securities Issuance During Reporting Period | Stock and Derivative Securities Name | Issuance Date | Issuance Price (or Interest Rate) | Issuance Quantity | Listing Date | | :--- | :--- | :--- | :--- | :--- | | Restricted Shares | April 17, 2025 | 3.31 | 510,000 | June 17, 2025 | - These reserved restricted shares are currently in a lock-up period and will be unlocked according to the unlocking conditions stipulated in the incentive plan[124](index=124&type=chunk) [III. Shareholder Numbers and Shareholding Status](index=28&type=section&id=III.%20Shareholder%20Numbers%20and%20Shareholding%20Status) At period-end, common shareholders totaled **57,846**; Fu Lemin was the largest with **21.40%** and **89,710,187** restricted shares, while China Minsheng Bank - Huaxia CSI Animation Game ETF was the third largest - At the end of the reporting period, the total number of common shareholders was **57,846**[126](index=126&type=chunk) Shareholding Status of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at End of Reporting Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Fu Lemin | Domestic Natural Person | 21.40% | 119,613,584 | 89,710,187 | 29,903,397 | | Xu Jianguo | Domestic Natural Person | 3.63% | 20,283,309 | 15,212,482 | 5,070,827 | | China Minsheng Bank Co., Ltd. - Huaxia CSI Animation Game Exchange Traded Open-ended Index Securities Investment Fund | Other | 1.90% | 10,611,066 | 0 | 10,611,066 | - There are no related party relationships or concerted action relationships as defined in the "Measures for the Administration of the Acquisition of Listed Companies" among Fu Lemin, Xu Jianguo, and Peng Wei[127](index=127&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=30&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Shareholdings and restricted stock grants of some directors, supervisors, and senior management changed, with Liu Ning, Zhang Wentao, and Huang Xiao showing decreases due to restricted stock repurchases Changes in Shareholdings of Directors, Supervisors, and Senior Management | Name | Position | Employment Status | Beginning Shareholding (shares) | Shares Reduced in Current Period (shares) | Ending Shareholding (shares) | Restricted Shares Granted at Beginning (shares) | Restricted Shares Granted in Current Period (shares) | Restricted Shares Granted at End (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Fu Lemin | Chairman, General Manager | Current | 119,613,584 | 0 | 119,613,584 | 0 | 0 | 0 | | Xu Jianguo | Director | Current | 20,283,309 | 0 | 20,283,309 | 0 | 0 | 0 | | Liu Ning | Director, Deputy General Manager | Current | 942,200 | 120,000 | 822,200 | 300,000 | -120,000 | 180,000 | | Zhang Wentao | Chief Financial Officer | Current | 509,900 | 112,000 | 397,900 | 280,000 | -112,000 | 168,000 | | Huang Xiao | Board Secretary | Current | 449,300 | 64,000 | 385,300 | 160,000 | -64,000 | 96,000 | [V. Changes in Controlling Shareholder or Actual Controller](index=30&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company's controlling shareholder and actual controller remained unchanged during the reporting period - The company's controlling shareholder remained unchanged during the reporting period[130](index=130&type=chunk) - The company's actual controller remained unchanged during the reporting period[130](index=130&type=chunk) [VI. Preferred Share Information](index=31&type=section&id=VI.%20Preferred%20Share%20Information) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[131](index=131&type=chunk) Section VII Bond-Related Information [Bond-Related Information](index=32&type=section&id=Bond-Related%20Information) The company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[133](index=133&type=chunk) Section VIII Financial Report [I. Audit Report](index=33&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[135](index=135&type=chunk) [II. Financial Statements](index=33&type=section&id=II.%20Financial%20Statements) This section presents the company's H1 2025 consolidated and parent company financial statements, detailing financial position, operating results, and cash flows at period-end - The consolidated balance sheet shows total assets of **CNY 1,402,070,932.78**, total liabilities of **CNY 175,300,646.73**, and total owner's equity of **CNY 1,226,770,286.05** at period-end[137](index=137&type=chunk)[139](index=139&type=chunk) - The consolidated income statement shows total operating revenue of **CNY 194,485,433.19**, net profit of **CNY -5,236,721.12**, and net profit attributable to parent company shareholders of **CNY -3,130,489.92** for the current period[146](index=146&type=chunk)[147](index=147&type=chunk) - The consolidated cash flow statement shows net cash flow from operating activities of **CNY -7,036,188.84**, net cash flow from investing activities of **CNY 7,167,450.76**, and net cash flow from financing activities of **CNY -14,277,574.43**[151](index=151&type=chunk)[152](index=152&type=chunk) [III. Company Basic Information](index=51&type=section&id=III.%20Company%20Basic%20Information) Listed on Shenzhen Stock Exchange on August 10, 2007, the company's total issued share capital and registered capital were **558,987,330** shares and **CNY 558,987,330** as of June 30, 2025, with Fu Lemin as actual controller, focusing on IoT, mobile games, and industrial park services - The company was listed on the Shenzhen Stock Exchange on August 10, 2007[170](index=170&type=chunk) - As of June 30, 2025, the company's total issued share capital was **558,987,330.00** shares, registered capital was **CNY 558,987,330.00**, and the actual controller is Fu Lemin[170](index=170&type=chunk) - The company's main businesses are IoT applications and other mobile communication services, mobile game business, and mobile internet industrial park business[171](index=171&type=chunk) [IV. Basis of Financial Statement Preparation](index=51&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) Financial statements are prepared under CAS and CSRC disclosure rules, based on a going concern assumption, with no significant doubts about continued operations - The company's financial statements are prepared in accordance with the "Accounting Standards for Business Enterprises" issued by the Ministry of Finance and the relevant disclosure requirements of the China Securities Regulatory Commission's "Information Disclosure Compilation Rules for Companies Issuing Securities to the Public No. 15 - General Provisions for Financial Reports" (Revised in 2023)[173](index=173&type=chunk) - The company evaluated its ability to continue as a going concern for 12 months from the end of the reporting period and found no significant doubts or circumstances regarding its ability to continue as a going concern[174](index=174&type=chunk) [V. Significant Accounting Policies and Estimates](index=51&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details significant accounting policies and estimates for financial statement preparation, covering business combinations, financial instruments, receivables, long-term assets, revenue, share-based payments, and leases - The company determines specific accounting policies and estimates based on its production and operating characteristics, primarily reflected in revenue recognition and measurement, recognition and measurement of bad debt provisions for receivables, depreciation of fixed assets and amortization of intangible assets, and measurement models for investment properties[175](index=175&type=chunk) - The company classifies financial assets into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss[207](index=207&type=chunk) - The company performs impairment testing and recognizes loss provisions for notes receivable, accounts receivable, other receivables, and debt investments based on expected credit losses[220](index=220&type=chunk) - The company's revenue recognition principle is to recognize revenue when the customer obtains control of the related goods, and the progress of performance obligations is determined using either the input method or output method based on the nature of the performance obligation[338](index=338&type=chunk)[340](index=340&type=chunk) [VI. Taxation](index=82&type=section&id=VI.%20Taxation) Main taxes include VAT, urban maintenance tax, corporate income tax, education surcharges, and property tax; as a high-tech enterprise, it enjoys a **15%** corporate income tax rate, with some entities benefiting from small and micro-enterprise tax incentives Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Sales of goods, taxable sales services revenue, intangible assets or real estate leasing services | 13%, 9%, 6%, 5%, 3% | | Urban Maintenance and Construction Tax | Actual VAT and consumption tax paid | 7% | | Corporate Income Tax | Taxable income | 25%, 20%, 15% | | Education Surcharge | Actual VAT and consumption tax paid | 3% | | Local Education Surcharge | Actual VAT and consumption tax paid | 2% | | Property Tax | For properties leased externally, based on property rental income; for self-used properties, based on 70% of the original value of the property | 1.2%, 12% | - Beijing Beiwei Communication Technology Co., Ltd., as a high-tech enterprise, enjoys a **15%** corporate income tax preferential rate[391](index=391&type=chunk) - Other tax entities, in accordance with relevant policies, pay corporate income tax at a **20%** rate on the portion of annual taxable income not exceeding **CNY 1 million** (calculated at **25%** of taxable income) and on the portion exceeding **CNY 1 million** but not exceeding **CNY 3 million** (calculated at **25%** of taxable income)[391](index=391&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=83&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details period-end and period-start balances and changes for major consolidated financial statement items, including cash, financial assets, receivables, long-term equity investments, liabilities, and revenues, with explanations for significant changes - Cash and cash equivalents had an ending balance of **CNY 33,882,841.74** and a beginning balance of **CNY 48,043,503.20**, with no pledged, frozen, or other restricted situations[394](index=394&type=chunk)[396](index=396&type=chunk) - Transactional financial assets had an ending balance of **CNY 459,139,409.35**, primarily consisting of wealth management products[398](index=398&type=chunk) - Accounts receivable had an ending balance of **CNY 32,917,462.29**, an increase of **126.83%** from the beginning of the period, primarily due to the expansion of operating revenue[23](index=23&type=chunk)[407](index=407&type=chunk) - Long-term equity investments had an ending balance of **CNY 145,970,310.50**, an increase of **30.32%** from the beginning of the period, primarily due to increased investment in Baishi Hekang in the current period[46](index=46&type=chunk)[58](index=58&type=chunk)[455](index=455&type=chunk) - Operating revenue for the current period was **CNY 194,485,433.19**, and operating cost was **CNY 121,976,486.36**[543](index=543&type=chunk) - Selling expenses for the current period were **CNY 50,127,495.86**, a year-on-year increase of **181.46%**, primarily due to increased market marketing efforts in the current period[46](index=46&type=chunk)[554](index=554&type=chunk) - Net cash flow from operating activities was **CNY -7,036,188.84**, primarily due to increased business promotion expenditures and increased prepayments in the current period[46](index=46&type=chunk)[151](index=151&type=chunk) [VIII. Research and Development Expenses](index=118&type=section&id=VIII.%20Research%20and%20Development%20Expenses) Total R&D expenditure was **CNY 12.87 million**, a **5.45%** decrease year-on-year, all expensed; primarily employee compensation and technical service fees, with no capitalized R&D projects R&D Expenditure Composition | Item | Amount Incurred in Current Period (CNY) | Amount Incurred in Prior Period (CNY) | | :--- | :--- | :--- | | Employee Compensation | 12,177,878.88 | 11,562,583.39 | | Technical Service Fees | 481,220.10 | 1,876,829.51 | | Business Travel Expenses | 143,109.06 | 86,737.20 | | Daily Office Expenses | 17,713.12 | 38,622.52 | | Depreciation and Amortization | 18,233.44 | 19,644.66 | | Meeting and Training Expenses | 1,249.72 | 1,118.07 | | Intermediary Service Fees | 28,530.18 | 16,000.00 | | Total | 12,867,934.50 | 13,609,206.35 | | Of which: Expensed R&D Expenditure | 12,867,934.50 | 13,609,206.35 | - All R&D expenditures in the current period were expensed, with no R&D projects meeting capitalization criteria[609](index=609&type=chunk)[611](index=611&type=chunk) [IX. Changes in Consolidation Scope](index=119&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) The company did not undergo business combinations under common control or lose control over subsidiaries; other changes in consolidation scope are not applicable - The company did not undergo business combinations under non-common control during the reporting period[614](index=614&type=chunk) - The company had no transactions or events resulting in the loss of control over subsidiaries during the reporting period[617](index=617&type=chunk) - Changes in consolidation scope due to other reasons are not applicable[617](index=617&type=chunk) [X. Interests in Other Entities](index=121&type=section&id=X.%20Interests%20in%20Other%20Entities) The company holds interests in several subsidiaries, including Beijing Beiwei Hive IoT Technology (**82.59%** stake) with a **CNY -0.98 million** net loss attributable to minority shareholders; it also holds a **5.60%** stake in Picocom Microelectronics, exercising significant influence Composition of Enterprise Group (Partial) | Subsidiary Name | Registered Capital (CNY) | Business Nature | Shareholding Ratio (Direct) | | :--- | :--- | :--- | :--- | | Beijing Beiwei Hive IoT Technology Co., Ltd. | 53,800,000.00 | Information Technology Services | 82.59% | | Beiwei Communication Technology Nanjing Co., Ltd. | 100,000,000.00 | Mobile Internet Industrial Park Operations | 100.00% | | Hainan Beiwei Lecheng Venture Capital Co., Ltd. | 450,000,000.00 | Venture Capital | 100.00% | | Beijing Beiwei Hive Interactive Entertainment Technology Co., Ltd. | 17,500,000.00 | Information Technology Services | 100.00% | Important Non-Wholly Owned Subsidiaries | Subsidiary Name | Minority Shareholding Ratio | Net Profit Attributable to Minority Shareholders in Current Period (CNY) | Minority Shareholder Equity Balance at Period-End (CNY) | | :--- | :--- | :--- | :--- | | Beijing Beiwei Hive IoT Technology Co., Ltd. | 17.41% | -979,088.16 | 7,545,662.78 | - The company holds a **5.60%** equity stake in Picocom Microelectronics (Hangzhou) Co., Ltd. and has appointed a director to participate in decision-making, exercising significant influence; the book value of equity investment in associates at period-end was **CNY 81,863,835.38**[625](index=625&type=chunk)[627](index=627&type=chunk) - The total book value of investments in unimportant joint ventures and associates was **CNY 64,106,475.12**, with a total net profit of **CNY -648,870.96** for the current period[630](index=630&type=chunk) [XI. Government Grants](index=125&type=section&id=XI.%20Government%20Grants) Government grants recognized in current profit or loss primarily included employment stabilization subsidies of **CNY 11,509.40**; no government grants were recognized based on receivable amounts Government Grants Recognized in Current Profit or Loss | Accounting Account | Amount Incurred in Current Period (CNY) | Amount Incurred in Prior Period (CNY) | | :--- | :--- | :--- | | Employment Stabilization Subsidies | 11,509.40 | 0.00 | - As of the end of the reporting period, the company had no government grants recognized based on receivable amounts[633](index=633&type=chunk) [XII. Risks Related to Financial Instruments](index=126&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) The company faces credit, liquidity, and market risks, managed through credit policies, cash flow monitoring, diversified investments, and sensitivity analysis - The company's main financial instruments include cash and cash equivalents, transactional financial assets, equity investments, debt investments, and receivables, facing credit risk, liquidity risk, and market risk[635](index=635&type=chunk) - Credit risk management: The company only conducts transactions with creditworthy counterparties, assesses customer credit qualifications and sets credit terms, and continuously monitors accounts receivable balances and collection status[636](index=636&type=chunk) - Liquidity risk management: The company continuously monitors its short-term and long-term funding needs, ensures sufficient cash reserves, and obtains standby funding commitments from major financial institutions[639](index=639&type=chunk) - Exchange rate risk sensitivity analysis: If the RMB appreciates or depreciates by **10%** against the USD, with other factors remaining constant, the company's net profit would decrease or increase by approximately **CNY 2,817,333.84**[645](index=645&type=chunk) - Other price risk sensitivity analysis: If the value of equity instruments (non-listed company equity) increases or decreases by **5%**, the company's net profit would increase or decrease by **CNY 1,220,500.00**[646](index=646&type=chunk) [XIII. Fair Value Disclosure](index=127&type=section&id=XIII.%20Fair%20Value%20Disclosure) At period-end, total assets measured at fair value were **CNY 483.55 million**, primarily transactional financial assets and equity investments; wealth management products use Level 1 fair value, equity investments use Level 3, with no changes in valuation techniques Fair Value of Assets and Liabilities Measured at Fair Value at Period-End | Item | Level 1 Fair Value Measurement (CNY) | Level 3 Fair Value Measurement (CNY) | Total (CNY) | | :--- | :--- | :--- | :--- | | Transactional Financial Assets | 459,139,409.35 | 24,410,000.00 | 483,549,409.35 | | Wealth Management Products | 459,139,409.35 | 24,410,000.00 | 483,549,409.35 | - Net-value bank wealth management products are measured by selecting the company's held shares and the corresponding net value per share on the balance sheet date as a reasonable estimate of fair value[649](index=649&type=chunk) - Equity instrument investments are valued using the comparative method, with an unobservable input of liquidity discount ranging from **51.37%**[650](index=650&type=chunk) - The company's fair value valuation techniques for financial instruments did not change during the current year[651](index=651&type=chunk) [XIV. Related Parties and Related Party Transactions](index=128&type=section&id=XIV.%20Related%20Parties%20and%20Related%20Party%20Transactions) Fu Lemin is the ultimate controlling party; related party transactions included **CNY 245,587.74** for mobile game operations, housing leases with directors, and key management personnel compensation of **CNY 1.70 million** - The ultimate controlling party of the enterprise is Fu Lemin[654](index=654&type=chunk) - The company engaged in related party transactions with its associate, Beijing Qingyou Yile Technology Co., Ltd., for agency mobile game operations, with a current period transaction amount of **CNY 245,587.74**[658](index=658&type=chunk) - The company, as lessee, leased office buildings from Fu Lemin and Liu Ning, paying **CNY 256,107.00** in rent during the current period[663](index=663&type=chunk) - Key management personnel compensation for the current period amounted to **CNY 1,695,269.20**[671](index=671&type=chunk) [XV. Share-Based Payment](index=131&type=section&id=XV.%20Share-Based%20Payment) The company granted **510,000** restricted shares to sales, management, and R&D personnel, totaling **CNY 1.50 million**; equity-settled share-based payment expense was **CNY 1.78 million** Overall Share-Based Payment Status | Category of Grantees | Number Granted in Current Period (shares) | Amount Granted in Current Period (CNY) | | :--- | :--- | :--- | | Sales Personnel | 176,000 | 519,200.00 | | Management Personnel | 166,000 | 489,700.00 | | R&D Personnel | 168,000 | 495,600.00 | | Total | 510,000 | 1,504,500.00 | - The fair value of equity instruments on the grant date is determined by subtracting the grant price from the market price of the shares on the grant date[679](index=679&type=chunk) - The total expense recognized for equity-settled share-based payments in the current period was **CNY 1,776,769.75**[680](index=680&type=chunk) [XVI. Commitments and Contingencies](index=132&type=section&id=XVI.%20Commitments%20and%20Contingencies) As of the balance sheet date, the company had no significant commitments or contingencies requiring disclosure - As of the balance sheet date, the company had no significant commitments requiring disclosure[681](index=681&type=chunk) - As of the balance sheet date, the company had no significant contingencies requiring disclosure[682](index=682&type=chunk)[683](index=683&type=chunk) [XVII. Events After the Balance Sheet Date](index=132&type=section&id=XVII.%20Events%20After%20the%20Balance%20Sheet%20Date) The company plans no profit distribution, and no sales returns or other events after the balance sheet date were reported - The company plans no profit distribution, with 0 dividends, bonus shares, or capital increase from capital reserves per 10 shares[684](index=684&type=chunk)[685](index=685&type=chunk) - As of the reporting period, the company had no sales return matters[686](index=686&type=chunk) - The company had no other events after the balance sheet date[687](index=687&type=chunk) [XVIII. Other Significant Matters](index=133&type=section&id=XVIII.%20Other%20Significant%20Matters) No prior period accounting errors requiring restatement were found; due to business integration, management views all operations as a single entity, thus no segment information is presented in these financial statements - No prior period accounting errors requiring retrospective restatement were found at the end of this reporting period[689](index=689&type=chunk) - No prior period accounting errors requiring prospective application were found at the end of this reporting period[690](index=690&type=chunk) - The company determines reportable segments based on operating segments, but due to the integration of mobile game business, IoT applications and other mobile communication businesses, and mobile internet industrial park business, management views these businesses as a whole for management and performance evaluation, thus no segment information is presented in these financial statements[691](index=691&type=chunk)[692](index=692&type=chunk) [XIX. Notes to Parent Company Financial Statement Items](index=134&type=section&id=XIX.%20Notes%20to%20Parent%20Company%20Financial%20Statement%20Items) This section details period-end and period-start balances and changes for major parent company financial statement items, including accounts receivable, other receivables, long-term equity investments, and operating revenue and costs - The parent company's accounts receivable had an ending balance of **CNY 12,152,768.46**, with **92.98%** having an aging of less than 1 year[694](index=694&type=chunk)[695](index=695&type=chunk) - The parent company's other receivables had an ending balance of **CNY 240,131,174.81**, with intercompany balances accounting for **92.13%**[711](index=711&type=chunk)[715](index=715&type=chunk) - The parent company's long-term equity investments had an ending book value of **CNY 413,603,040.29**, including **CNY 286,675,886.51** in investments in subsidiaries and **CNY 126,927,153.78** in investments in associates and joint ventures[723](index=723&type=chunk) - The parent company's operating revenue for the current period was **CNY 36,540,826.59**, and operating cost was **CNY 25,484,681.03**[730](index=730&type=chunk) [XX. Supplementary Information](index=142&type=section&id=XX.%20Supplementary%20Information) This section provides supplementary information including non-recurring gains and losses, ROE, and EPS; total non-recurring gains and losses were **CNY 3.61 million**, with weighted average ROE for common shareholders of **-0.26%**, and basic/diluted EPS of **CNY -0.01/share** Current Period Non-Recurring Gains and Losses Detail | Item | Amount (CNY) | | :--- | :--- | | Gains or losses from disposal of non-current assets | -48,210.08 | | Gains or losses from changes in fair value of financial assets and liabilities, and investment gains from disposal of financial assets and liabilities, excluding effective hedging activities related to normal business operations | 4,307,905.01 | | Other non-operating income and expenses apart from the above | 104.38 | | Less: Income tax

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中材科技股份有限公司 2025 年半年度报告全文 中材科技股份有限公司 2025 年半年度报告 2025 年 8 月 1 中材科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、完整，不存在 虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | 6 | | 第三节 | 管理层讨论与分析 | 9 | | 第四节 | 公司治理、环境和社会 | 22 | | 第五节 | 重要事项 | 24 | | 第六节 | 股份变动及股东情况 | 32 | | 第七节 | 债券相关情况 | 36 | | 第八节 | 财务报告 | 39 | | 第九节 | 其他报送数据 | 155 | 中材科技股份有限公司 2025 年半年度报告全文 备查文件目录 公司负责人黄再满、主管会计工作负责人高岭及会计机构负责人（会计主管人员）毛 冉声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次 ...

稳健医疗用品股份有限公司 2025 半年度报告 品牌愿景 呵护健康、关爱生命、保护环境，让世界更美好！ 呵护健康 关爱生命 保护环境 让世界更美好！ 质量优先于利润、品牌优先于速度、社会价值优先于企业价值 品牌道德观 诚信经营、尊重消费者、公平竞争、社会责任、 尊重知识产权、持续改进 2024 年年度报告 01 致股东 第一节 重要提示、 目录和释义 不是棉田，就是沙漠 核心经营原则 第一节 重要提示、目录和释义 02 第一节 重要提示、目录和释义 03 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司负责人李建全、主管会计工作负责人方修元及会计机构负责人 (会计主管 人员 )赵燕声明 ：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告中涉及的未来发展战略、业绩规划等前瞻性内容是公司自己提出 的目标，属于计划性事项，能否实现取决于市场状况变化等多种因素，存在不 确定性，并不代表公司对未来年度的盈利预测，也不构成公司对投资者及相关 ...

新疆天顺供应链股份有限公司 2025 年半年度报告全文 新疆天顺供应链股份有限公司 2025 年半年度报告 2025-055 【2025.8】 1 新疆天顺供应链股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人丁治平、主管会计工作负责人赵燕及会计机构负责人（会计 主管人员）赵志成声明：保证本半年度报告中财务报告的真实、准确、完 整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告所涉及的未来计划等前瞻性陈述，不构成公司对投资者的实质承诺， 投资者及相关人士均应对此保持足够的风险认识，并且应当理解计划，预测 与承诺之间的差异。敬请投资者注意风险。 本报告"第三节 管理层讨论与分析—十、公司面临的风险和应对措施" 详述了公司未来可能面对的风险因素，敬请投资者关注相关内容并注意投资 风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | . | 5 | > | × | | --- | --- | --- | --- | ...