[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) Management guarantees the truthfulness, accuracy, and completeness of this semi-annual report, which contains no profit distribution plan[4](index=4&type=chunk)[5](index=5&type=chunk) - The Board of Directors, Supervisory Committee, and all senior executives ensure the **truthfulness, accuracy, and completeness** of the report and bear corresponding legal responsibilities[4](index=4&type=chunk) - Forward-looking statements regarding future plans and development strategies **do not constitute substantive commitments** to investors, who should be aware of the associated risks[4](index=4&type=chunk) - The company **does not plan to distribute cash dividends**, issue bonus shares, or convert capital reserves into share capital for the first half of 2025[5](index=5&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines key terminology and abbreviations used throughout the report, covering corporate entities and industry-specific technical terms - The reporting period is defined as **January 1, 2025, to June 30, 2025**[12](index=12&type=chunk) - Detailed explanations are provided for broadcasting industry terms such as **DVB, OTT, and IPTV**, clarifying their technical meanings and applications[12](index=12&type=chunk) - Definitions are provided for terms in the energy and technology sectors, including **high-power supplies, 18650 lithium batteries, IoT, and smart cities**[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=7&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) [Company Profile](index=7&type=section&id=%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Shenzhen Coship Electronics Co, Ltd is listed on the Shenzhen Stock Exchange, and its basic corporate information remained unchanged during the reporting period Corporate Information | Item | Content | | :--- | :--- | | **Stock Ticker** | Coship Electronics | | **Stock Code** | 002052 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Company Full Name** | Shenzhen Coship Electronics Co, Ltd | | **Legal Representative** | Zhang Chunyin | [Key Accounting Data and Financial Indicators](index=8&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company achieved explosive performance growth, with revenue and net profit soaring, though total assets and operating cash flow significantly declined Key Financial Indicators | Key Financial Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (Yuan)** | 539,769,532.34 | 76,397,876.23 | 606.52% | | **Net Profit Attributable to Shareholders (Yuan)** | 203,071,375.87 | -36,084,109.06 | 662.77% | | **Net Cash Flow from Operating Activities (Yuan)** | -115,415,860.89 | 2,029,955.74 | -5,785.63% | | **Basic Earnings Per Share (Yuan/Share)** | 0.2722 | -0.0484 | 662.40% | | **Weighted Average Return on Equity** | 107.66% | -399.07% | 506.73% | | **Total Assets (Yuan)** | 685,153,485.82 | 1,239,630,927.40 (Prior Year-End) | -44.73% | | **Net Assets Attributable to Shareholders (Yuan)** | 290,173,885.87 | 87,079,501.17 (Prior Year-End) | 233.23% | [Non-recurring Gains and Losses](index=8&type=section&id=%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) The company's non-recurring items resulted in a net loss of 5.37 million Yuan, primarily due to provisions for pending litigation Details of Non-recurring Gains and Losses | Item | Amount (Yuan) | Notes | | :--- | :--- | :--- | | Gain/Loss from Debt Restructuring | 1,123,667.93 | Debt reduction from creditor agreements | | Government Grants Included in Current Profit/Loss | 817,899.64 | - | | Other Non-operating Income and Expenses | -7,150,421.70 | Mainly provisions for pending litigation | | **Total** | **-5,372,807.65** | - | [Management Discussion and Analysis](index=10&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) [Principal Business Activities During the Reporting Period](index=10&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's business comprises energy and set-top box segments, with a strategic focus on high-power supplies for computing servers driving growth - The company's main business is divided into two segments: **the energy sector** (high-power supplies, lithium batteries) and **the set-top box sector** (set-top boxes, smart terminals)[30](index=30&type=chunk) - The current strategic focus is on the **high-power supply business**, with products primarily used in computing servers, which is the main reason for the significant improvement in revenue and profit[31](index=31&type=chunk) - The company employs a **"produce-to-order" manufacturing model** and a **direct sales-oriented marketing model**, serving domestic and international operators and customers directly[32](index=32&type=chunk)[33](index=33&type=chunk) [Core Competitiveness Analysis](index=11&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) Core competencies are built on brand, R&D, management, marketing, product quality, and supply chain integration, highlighted by a successful pivot to high-power supplies - The company has a **well-recognized brand** in the digital video industry, which provides a foundation for expanding into new business areas like energy[35](index=35&type=chunk) - High-power supply products feature advanced technologies like **high-efficiency circuit topology and full digital control**, ensuring stable operation in extreme environments[37](index=37&type=chunk) - The company successfully transformed its original "Power Supply Business Unit" into the "Power Supply and Server Business Unit," developing **technologically advanced high-power supply products** and establishing a stable business model[39](index=39&type=chunk) [Main Business Analysis](index=12&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Revenue surged due to the new high-power supply business, which now dominates sales and has shifted the company's focus to overseas markets Key Financial Data YoY Comparison | Key Financial Data | Current Period (Yuan) | Prior Year Period (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 539,769,532.34 | 76,397,876.23 | 606.52% | Significant growth from new high-power supply business | | **Operating Costs** | 294,373,724.50 | 79,596,788.64 | 269.83% | Costs increased in line with revenue growth | | **Financial Expenses** | 11,954,905.03 | 5,939,548.78 | 101.28% | Impact of exchange rate fluctuations | | **Net Cash Flow from Operating Activities** | -115,415,860.89 | 2,029,955.74 | -5,785.63% | Increased cash payments for operating activities | Revenue Breakdown by Business Segment | Business Segment | Current Period Revenue (Yuan) | % of Total Revenue | Prior Year Period Revenue (Yuan) | % of Total Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Energy Sector Business** | 507,600,480.89 | 94.04% | 47,824,213.36 | 62.60% | 961.39% | | Of which: High-Power Supply | 487,023,042.16 | 90.23% | - | - | - | | **Set-Top Box Sector Business** | 2,494,200.61 | 0.46% | 10,515,848.23 | 13.76% | -76.28% | Revenue Breakdown by Region | Region | Current Period Revenue (Yuan) | % of Total Revenue | Prior Year Period Revenue (Yuan) | % of Total Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Overseas** | 487,023,042.16 | 90.23% | 3,317,729.60 | 4.34% | 14,579.41% | | **Domestic** | 52,746,490.18 | 9.77% | 73,080,146.63 | 95.66% | -27.82% | [Analysis of Assets and Liabilities](index=14&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total assets decreased by 44.73% to 685 million Yuan, driven by a significant reduction in inventory following successful sales during the period Asset Composition Analysis | Asset Item | Period-End Balance (Yuan) | % of Total Assets | Prior Year-End Balance (Yuan) | % of Total Assets | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Accounts Receivable** | 223,218,837.60 | 32.58% | 455,705,063.40 | 36.76% | Collection of opening receivables during the period | | **Inventory** | 11,323,979.77 | 1.65% | 227,427,253.67 | 18.35% | Sale of opening inventory during the period | - As of the period-end, **45.94 million Yuan** of the company's assets were restricted, primarily including investment properties (45.23 million Yuan) and bank deposits (0.71 million Yuan) subject to litigation preservation measures[51](index=51&type=chunk) [Analysis of Major Subsidiaries and Investees](index=16&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) The Hong Kong subsidiary was a key platform for overseas business, while several new energy battery subsidiaries reported losses Performance of Major Subsidiaries | Company Name | Type | Main Business | Operating Revenue (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | :--- | | **Coship Technology (HK) Co, Limited** | Subsidiary | R&D consulting, import/export trade | 635,753,913.52 | 905,719.69 | | **Nanping Tongxin New Energy Technology Co, Ltd** | Subsidiary | New energy battery production and sales | 2,565,330.58 | -1,893,507.72 | | **Huizhou Changsheng Technology Co, Ltd** | Subsidiary | Battery manufacturing | 19,150,110.02 | -1,270,173.65 | [Company Risks and Countermeasures](index=17&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces market, management, technical, and currency risks, which it plans to mitigate through diversification, talent retention, R&D, and financial instruments - **Market Risk**: Macroeconomic slowdowns and industry shifts could impact business growth; the company will respond by optimizing its product mix and diversifying operations[60](index=60&type=chunk) - **Technical Risk**: The company faces risks from the loss of key technical personnel and poor R&D decisions; it will strengthen its talent pool and market trend analysis[60](index=60&type=chunk) - **Exchange Rate Risk**: With significant exports and raw material imports, currency fluctuations impact costs and profits; the company will use financial instruments and timely currency settlement to manage this risk[61](index=61&type=chunk) [Corporate Governance, Environment, and Society](index=19&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) [Changes in Directors, Supervisors, and Senior Management](index=19&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) The company underwent changes in its board and senior management due to term-of-office elections, including the appointment of a new General Manager Personnel Changes | Name | Position | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Zhang Chunyin | Director | Elected | 2025-03-31 | Term-of-office election | | You Xintang | General Manager | Appointed | 2025-04-02 | Term-of-office election | | Liu Yongteng | Director | Resigned upon term completion | 2025-03-31 | Term-of-office election | [Implementation of Equity Incentive Plan](index=19&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company canceled 2.61 million stock options due to employee departures, while conditions for the second exercise period of its 2023 plan were met - On April 18, 2025, the company approved the cancellation of **2.61 million stock options** held by 9 incentive recipients who had resigned[69](index=69&type=chunk) - The conditions for the **second exercise period** of the company's 2023 stock option incentive plan have been met[69](index=69&type=chunk) - Following the cancellation, the number of incentive recipients was reduced from 76 to 67, with **16.62 million stock options** remaining outstanding under the plan[69](index=69&type=chunk) [Social Responsibility](index=20&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company actively fulfilled its social responsibilities by improving corporate governance, protecting stakeholder rights, and focusing on environmental sustainability - The company continuously improves its internal control systems in compliance with laws and regulations to **protect the rights of investors and creditors**[70](index=70&type=chunk) - The company legally protects employee rights, provides support for employees in need, and organizes cultural activities to **enhance employee belonging**[72](index=72&type=chunk)[73](index=73&type=chunk) - Adhering to a "customer first, quality first" policy, the company maintains **ISO9001 and ISO14001 certifications** and strong relationships with suppliers and customers[73](index=73&type=chunk) [Significant Events](index=22&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Commitments](index=22&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) The company's largest shareholders fulfilled their commitments regarding non-competition, related-party transactions, share lock-ups, and maintaining corporate independence - The largest shareholder and their concerted parties committed **not to engage in business that competes** with the company and to prioritize giving business opportunities to the company[76](index=76&type=chunk) - A commitment was made **not to transfer shares for 18 months** following the equity change[78](index=78&type=chunk) - A commitment was made to ensure the company's **independence in personnel, assets, finance, business, and organization**[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) [Litigation](index=28&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company settled a major 413 million Yuan contract dispute, while other significant lawsuits related to contract disputes and securities misrepresentation remain ongoing Major Litigation Status | Case Details | Amount Involved (Yuan) | Provision Made | Status | Outcome & Impact | | :--- | :--- | :--- | :--- | :--- | | **Sales Contract Dispute with Terminus** | 412,609,500 | No | Closed | Parties reached a settlement; company withdrew the lawsuit | | **Contract Dispute with Xing Bao Trust** | 105,461,300 | Yes | First Instance | Awaiting judgment | | **Investor Securities Misrepresentation Lawsuits** | 125,704,000 | Yes | Partially judged, partially appealed | Some cases have been judged and compensated | [Significant Related-Party Transactions](index=30&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company engaged in 1.02 million Yuan of related-party transactions, including purchasing raw materials from and selling them to related entities at market prices Details of Related-Party Transactions | Related Party | Relationship | Transaction Type | Transaction Amount (Yuan) | | :--- | :--- | :--- | :--- | | Shenzhen Huayouxintai Technology Co, Ltd | Controlled by a close relative of a director | Purchase of raw materials | 841,000 | | Shenzhen Ailubang Technology Co, Ltd | Former shareholder of a subsidiary | Sale of raw materials | 174,500 | | **Total** | -- | -- | **1,015,500** | [Share Capital Changes and Shareholder Information](index=33&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) [Share Capital Changes](index=33&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Total share capital remained unchanged, but the proportion of restricted shares increased to 8.31% due to a senior executive's share acquisition - Director and General Manager Mr You Xintang increased his shareholding by **52,219,810 shares** through a transfer agreement during the reporting period[110](index=110&type=chunk) Share Structure Changes | Share Class | Before Change | After Change | Change in Shares | | :--- | :--- | :--- | :--- | | **Restricted Shares** | 22,875,182 (3.06%) | 62,040,039 (8.31%) | +39,164,857 | | **Unrestricted Shares** | 723,084,512 (96.94%) | 683,919,655 (91.69%) | -39,164,857 | | **Total Share Capital** | 745,959,694 (100%) | 745,959,694 (100%) | 0 | [Number and Shareholdings of Shareholders](index=35&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) The number of shareholders totaled 25,752, with the largest shareholder holding 16.50% and the General Manager becoming the second largest at 11.09% Top Shareholders | Shareholder Name | Shareholding Ratio | Shares Held at Period-End | | :--- | :--- | :--- | | Ding Xiaoli | 16.50% | 123,107,038 | | You Xintang | 11.09% | 82,720,053 | | Ruihong Life Insurance Co, Ltd - Universal Product | 8.16% | 60,849,000 | - The total number of common shareholders at the end of the reporting period was **25,752**[115](index=115&type=chunk) - Shareholders You Xintang and Wu Liping signed a **Concerted Action Agreement** on June 11, 2024, making them parties acting in concert[115](index=115&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=36&type=section&id=%E5%9B%9B%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) Director and General Manager Mr You Xintang significantly increased his holdings by over 52 million shares during the reporting period Executive Shareholding Changes | Name | Position | Opening Shareholding (Shares) | Shares Increased This Period (Shares) | Closing Shareholding (Shares) | | :--- | :--- | :--- | :--- | :--- | | You Xintang | Director, General Manager | 30,500,243 | 52,219,810 | 82,720,053 | [Bond-related Matters](index=38&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) [Bond-related Matters](index=38&type=section&id=%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related matters during the reporting period [Financial Report](index=39&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) [Financial Statements](index=39&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the unaudited semi-annual financial statements, showing significant profit growth alongside negative operating cash flow and reduced total assets - The company's semi-annual financial report is **unaudited**[125](index=125&type=chunk) [Consolidated Balance Sheet](index=39&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) Total assets decreased to 685 million Yuan, while total liabilities fell sharply, and equity attributable to parent company owners grew substantially due to current period profits Balance Sheet Summary | Item | Closing Balance (Yuan) | Opening Balance (Yuan) | | :--- | :--- | :--- | | **Total Assets** | 685,153,485.82 | 1,239,630,927.40 | | **Total Liabilities** | 432,624,910.28 | 1,189,465,933.53 | | **Total Equity Attributable to Parent Company Owners** | 290,173,885.87 | 87,079,501.17 | [Consolidated Income Statement](index=43&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) The company achieved a successful turnaround, with total operating revenue of 540 million Yuan and a net profit of 202 million Yuan for the first half of 2025 Income Statement Summary | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | **I. Total Operating Revenue** | 539,769,532.34 | 76,397,876.23 | | **II. Total Operating Costs** | 335,620,672.96 | 116,576,280.93 | | **III. Operating Profit** | 209,288,254.66 | -38,860,956.22 | | **V. Net Profit** | 202,126,684.12 | -43,925,834.73 | | **Net Profit Attributable to Parent Company Shareholders** | 203,071,375.87 | -36,084,109.06 | [Consolidated Cash Flow Statement](index=47&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Net cash flow from operating activities was negative 115 million Yuan due to increased payments for goods and services, resulting in a lower cash balance at period-end Cash Flow Statement Summary | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | -115,415,860.89 | 2,029,955.74 | | **Net Cash Flow from Investing Activities** | -1,282,820.41 | -1,157,082.82 | | **Net Cash Flow from Financing Activities** | -9,039,066.67 | -6,929,000.00 | | **Net Increase in Cash and Cash Equivalents** | -121,642,951.86 | -6,120,226.32 | [Notes to the Consolidated Financial Statements](index=91&type=section&id=%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section details the composition and changes in key financial statement items, including accounts receivable, inventory, revenue, and provisions [Accounts Receivable](index=93&type=section&id=%E5%BA%94%E6%94%B6%E8%B4%A6%E6%AC%BE) The carrying value of accounts receivable decreased significantly to 223 million Yuan, with a bad debt provision of 136 million Yuan Accounts Receivable by Aging | Aging | Closing Book Balance (Yuan) | | :--- | :--- | | Within 1 year (inclusive) | 207,079,926.77 | | 1 to 2 years | 32,038,172.69 | | 2 to 3 years | 8,705,563.81 | | Over 3 years | 110,989,503.81 | | **Total** | **358,813,167.08** | - The top five accounts receivable balances totaled **206 million Yuan**, representing 57.45% of the total balance[387](index=387&type=chunk) [Inventory](index=103&type=section&id=%E5%AD%98%E8%B4%A7) Inventory value plummeted by 95% to 11.32 million Yuan, primarily because opening stock of finished goods was sold during the period Inventory Breakdown | Item | Closing Carrying Value (Yuan) | Opening Carrying Value (Yuan) | | :--- | :--- | :--- | | Raw Materials | 4,252,221.13 | 4,327,099.53 | | Finished Goods | 6,377,021.04 | 204,371,627.87 | | Goods in Process | 330,595.75 | 17,492,754.09 | | **Total** | **11,323,979.77** | **227,427,253.67** | [Operating Revenue and Costs](index=121&type=section&id=%E8%90%A5%E4%B8%9A%E6%94%B6%E5%85%A5%E5%92%8C%E8%90%A5%E4%B8%9A%E6%88%90%E6%9C%AC) The company generated operating revenue of 540 million Yuan and operating costs of 294 million Yuan, driven primarily by its main business activities Revenue and Cost Breakdown | Item | Revenue (Yuan) | Cost (Yuan) | | :--- | :--- | :--- | | **Main Business** | 534,207,912.68 | 289,494,701.40 | | **Other Business** | 5,561,619.66 | 4,879,023.10 | | **Total** | **539,769,532.34** | **294,373,724.50** | [Provisions](index=119&type=section&id=%E9%A2%84%E8%AE%A1%E8%B4%9F%E5%80%BA) The closing balance of provisions was 34.79 million Yuan, a decrease from the opening balance, entirely related to pending litigation Breakdown of Provisions | Item | Closing Balance (Yuan) | Opening Balance (Yuan) | Reason | | :--- | :--- | :--- | :--- | | Pending Litigation | 34,790,404.31 | 44,722,079.92 | Provisions for pending lawsuits | [Other Submitted Data](index=152&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%85%B6%E4%BB%96%E6%8A%A5%E9%80%81%E6%95%B0%E6%8D%AE) [Fund Transactions with Related Parties](index=152&type=section&id=%E4%B8%89%E3%80%81%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E4%B8%8E%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E8%B5%84%E9%87%91%E5%BE%80%E6%9D%A5%E6%83%85%E5%86%B5) The company had significant fund transactions with related parties, including a 370 million Yuan operating balance with its Hong Kong subsidiary Related-Party Fund Transactions | Counterparty Name | Transaction Nature | Opening Balance (Yuan) | Current Period Amount (Yuan) | Closing Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | | **Coship Technology (HK) Co, Limited** | Operating | 347,971,300 | 502,396,200 | 369,600,500 | | **Shenzhen E-Hui Software Co, Ltd** | Non-operating | 184,109,100 | 396,515,900 | 442,918,900 |

[Performance Forecast Overview](index=1&type=section&id=I.%E3%80%81Current%20Period%20Performance%20Forecast) Puya Semiconductor anticipates 2025 H1 revenue of approximately **RMB 905 million**, a slight 1.00% increase, but expects net profit attributable to owners to decline significantly by 70.58% to **RMB 40 million**, with non-recurring adjusted net profit dropping 82.83% to **RMB 26 million** Performance Forecast Summary | Metric | 2025 H1 Forecast | 2024 H1 Actual | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | Approx. 905.00 million RMB | 896.02 million RMB | +1.00% approx | | Net Profit Attributable to Owners | Approx. 40.00 million RMB | 135.98 million RMB | -70.58% approx | | Non-Recurring Adjusted Net Profit Attributable to Owners | Approx. 26.00 million RMB | 151.44 million RMB | -82.83% approx | - This performance forecast is a preliminary estimate by the company's finance department and has not been audited by a certified public accountant[4](index=4&type=chunk) [Prior Period Performance Comparison](index=2&type=section&id=II.%E3%80%81Prior%20Period%20Performance) The report presents 2024 H1 performance as a comparative baseline, with **RMB 896 million** in revenue, **RMB 136 million** in net profit, and **RMB 151 million** in non-recurring adjusted net profit 2024 H1 Performance | Metric | 2024 H1 Amount (RMB Millions) | | :--- | :--- | | Operating Revenue | 896.02 | | Net Profit Attributable to Owners | 135.98 | | Non-Recurring Adjusted Net Profit Attributable to Owners | 151.44 | [Analysis of Performance Changes](index=2&type=section&id=III.%E3%80%81Main%20Reasons%20for%20Performance%20Changes) Performance decline primarily stems from core business profit pressure and non-recurring items; while 'Storage+' strategy slightly boosted revenue, increased R&D, rising expenses, and inventory impairment significantly reduced core profit, partially offset by government grants and investment income [Impact of Core Business](index=2&type=section&id=I.%EF%BC%89%20Impact%20of%20Core%20Business) While 'Storage+' new products (MCU, Driver) slightly increased overall revenue, core memory chip shipments declined due to slow consumer market recovery, with **RMB 60 million** in increased R&D, management, and sales expenses, and **RMB 58 million** in higher inventory impairment, significantly eroding profit - 'Storage+' strategy steadily implemented, with increased market share for new products like MCU and Driver, leading to a slight overall revenue increase in H1 compared to last year, offsetting the decline in main memory chip shipments[6](index=6&type=chunk) - Due to expanded personnel and deeper R&D projects, R&D, management, and sales expenses collectively increased by approximately **RMB 60 million** year-over-year, but new product revenue has not yet scaled to offset the negative impact of increased expenses on profit[6](index=6&type=chunk) - The company's proactive supply chain strategy resulted in high inventory levels, leading to an approximate **RMB 58 million** year-over-year increase in asset impairment losses recognized in this reporting period due to inventory impairment provisions based on prudence principles[6](index=6&type=chunk) [Impact of Non-Recurring Items](index=2&type=section&id=II.%EF%BC%89%20Other%20Impacts) Non-recurring items positively impacted profit, with government grants increasing by approximately **RMB 15 million** and investment income from Huada Jiutian shares rising by approximately **RMB 18 million** year-over-year, partially mitigating the net profit decline - During the reporting period, various government grants received by the company increased by approximately **RMB 15 million** year-over-year[8](index=8&type=chunk) - Investment income from the company's strategic placement shares in Huada Jiutian increased by approximately **RMB 18 million** year-over-year, influenced by secondary market stock price fluctuations[8](index=8&type=chunk) [Risk Warning and Other Notes](index=3&type=section&id=IV.%E3%80%81Risk%20Warning) The company explicitly states this performance forecast is a preliminary, unaudited financial department estimate, with final data subject to the official 2025 semi-annual report, urging investors to be aware of investment risks - This performance forecast is a preliminary calculation by the company's finance department based on its professional judgment and has not been audited by a certified public accountant[9](index=9&type=chunk) - The specific and accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report; investors are advised to be aware of investment risks[10](index=10&type=chunk)

东鹏饮料（集团）股份有限公司2025 年半年度报告 公司代码：605499 公司简称：东鹏饮料 东鹏饮料（集团）股份有限公司 2025 年半年度报告 二〇二五年七月 1 / 179 东鹏饮料（集团）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、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人林木勤 、主管会计工作负责人彭得新及会计机构负责人（会计主管人员）詹宏 辉声明：保证半年度报告中财务报告的真实、准确、完整。 五、 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 拟以公司2025年半年度股本总数520,013,000股为基数，向全体股东每10股派25元（含税）， 共计分派现金红利1,300,032,500元。 该预案仍需提交2025年第一次临时股东会审议。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，敬请 投资者注意投资风 ...

河南通达电缆股份有限公司 2025 年半年度报告全文 河 南 通 达 电 缆 股 份 有 限 公 司 HENAN TONG-DA CABLE CO., LTD. 2025年半年度报告 证券代码：002560 披露日期：二〇二五年七月 1 河南通达电缆股份有限公司 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。 公司负责人马红菊、主管会计工作负责人闫文鸽及会计机构负责人(会计 主管人员)焦启豪声明：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。 证券简称：通达股份 本年度报告涉及未来计划等前瞻性描述，不构成公司对投资者的实质承 诺，请投资者注意投资风险。 公司在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和 应对措施"，详细描述了公司经营中可能存在的风险及应对措施，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，不以公积金转增股本。 2 | 第一节 重要提示、目录和释义 2 | ...

证券代码：601665 证券简称：齐鲁银行 公告编号：2025-043 可转债代码：113065 可转债简称：齐鲁转债 齐鲁银行股份有限公司 2025年半年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 本公告所载2025年半年度主要财务数据为齐鲁银行股份有限公司（以下简称 "本行"）初步核算的合并口径数据，未经会计师事务所审计，具体数据以本行 2025年半年度报告中披露的数据为准，提请投资者注意投资风险。 一、2025年半年度主要财务数据和指标 注：1、非经常性损益根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》（2023 年 修订）的规定计算。 2、基本每股收益、加权平均净资产收益率根据《公开发行证券的公司信息披露编报规则第 9 号——净 资产收益率和每股收益的计算及披露》（2010 年修订）的规定计算。 3、"贷款总额""存款总额"均不包含应计利息。 二、经营业绩和财务状况情况说明 2025年上半年，本行紧紧围绕中央决策部署和省市工作安排，按照"稳中求 进、以进促稳，改革转型、协同发 ...

特别提示： 本公告所载 2025 年半年度的财务数据仅为初步核算数据，已经公司内部审计部 门审计，未经会计师事务所审计，与半年度报告中披露的最终数据可能存在差异， 请投资者注意投资风险。 一、2025 年半年度主要财务数据和指标 单位：人民币元 | 项目 | 本报告期 | 上年同期 | 增减变动 幅度 | | --- | --- | --- | --- | | 营业总收入 | 2,056,248,002.47 | 1,976,169,887.68 | 4.05% | | 营业利润 | 553,967,603.08 | 315,184,507.63 | 75.76% | | 利润总额 | 549,295,663.00 | 302,267,389.66 | 81.73% | | 归属于上市公司股东的净利润 | 435,396,878.41 | 226,215,063.52 | 92.47% | | 扣除非经常性损益后的归属于上市 公司股东的净利润 | 241,859,602.84 | 183,604,069.79 | 31.73% | | 基本每股收益（元） | 0.37 | 0.19 | 94.74% | | ...

[Key Financial Data](index=1&type=section&id=一、2025%20年半年度主要财务数据) The company's performance significantly declined in the first half of 2025, with total operating revenue decreasing by 18.86% year-over-year and net profit attributable to shareholders sharply falling by 42.90%, while total assets and owners' equity slightly increased from the beginning of the period Key Financial Data for H1 2025 (Unit: RMB) | Item | Current Period | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,488,837,616.11 | 1,834,933,350.11 | -18.86% | | Operating Profit | 270,575,242.08 | 539,358,465.90 | -49.83% | | Total Profit | 270,630,180.43 | 538,885,510.34 | -49.78% | | Net Profit Attributable to Shareholders of Listed Company | 257,359,767.42 | 450,724,131.03 | -42.90% | | Net Profit Attributable to Shareholders of Listed Company After Non-Recurring Gains/Losses | 247,987,208.19 | 424,911,867.66 | -41.64% | | Basic Earnings Per Share (RMB) | 0.4813 | 0.8429 | -42.90% | | Weighted Average Return on Net Assets | 5.99% | 11.62% | -5.63% | | **Item** | **End of Current Period** | **Beginning of Current Period** | **Change (%)** | | Total Assets | 6,166,043,098.03 | 6,035,772,658.47 | 2.16% | | Owners' Equity Attributable to Shareholders of Listed Company | 4,290,762,405.31 | 4,220,027,509.02 | 1.68% | | Share Capital | 534,724,139.00 | 534,724,139.00 | 0.00% | | Net Assets Per Share Attributable to Shareholders of Listed Company (RMB) | 8.02 | 7.89 | 1.65% | [Explanation of Operating Performance and Financial Position](index=1&type=section&id=二、经营业绩和财务状况情况说明) The company attributes its performance decline to external market conditions and internal cost factors, with reduced revenue from vacuum pump products due to weak demand in the photovoltaic industry being the primary cause of revenue decrease, compounded by declining gross margin and exchange losses leading to a significant drop in net profit - Total operating revenue decreased by **18.86%** year-over-year, primarily due to the photovoltaic industry being in a deep adjustment phase, leading to a decline in end-user demand and a corresponding reduction in the company's vacuum pump product revenue for this sector[4](index=4&type=chunk)[5](index=5&type=chunk) - Net profit attributable to shareholders decreased by **42.90%** year-over-year, mainly influenced by multiple factors including declining operating revenue, a decrease in gross margin, and exchange losses due to fluctuations in the New Taiwan Dollar exchange rate[5](index=5&type=chunk) [Explanation of Differences from Previous Performance Forecasts](index=2&type=section&id=三、与前次业绩预计的差异说明) The company had not previously disclosed any performance forecasts for the first half of 2025 prior to the release of this performance express report - This performance express report marks the company's first disclosure of its operating performance forecast for the first half of 2025[6](index=6&type=chunk) [Other Explanations and Reference Documents](index=2&type=section&id=四、业绩泄漏原因和股价异动情况分析) The report states no performance leakage or stock price anomalies require explanation and lists the reference documents for this announcement, including financial statements and internal audit reports signed and sealed by relevant responsible persons - The report states that analysis of reasons for performance leakage and stock price anomalies is not applicable[7](index=7&type=chunk) - Reference documents include comparative balance sheets and income statements signed and sealed by company executives, as well as an internal audit report[9](index=9&type=chunk)[10](index=10&type=chunk)

证券代码：601888 证券简称：中国中免 公告编号：临2025-022 中国旅游集团中免股份有限公司 2025年半年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 本公告所载2025年半年度主要财务数据为初步核算数据，未经会计师事务所 审计，具体数据以中国旅游集团中免股份有限公司（以下简称"公司"）2025 年半年度报告中披露的数据为准，提请投资者注意投资风险。 三、风险提示 | 项目 | 本报告期 | 上年同期 | 增减变动幅度 | | --- | --- | --- | --- | | | | | （%） | | 营业总收入 | 2,815,075.00 | 3,126,499.84 | -9.96 | | 营业利润 | 370,798.85 | 453,279.27 | -18.20 | | 利润总额 | 366,347.92 | 453,482.72 | -19.21 | | 归属于上市公司股东的净利润 | 259,975.29 | 328,289.65 | -20.81 | | 归属于上市公司股东的 ...

2024 年半年度报告 北京国联视讯信息技术股份有限公司 2024 年半年度报告 1 / 206 公司代码：603613 公司简称： 国联股份 2024 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、公司全体董事出席董事会会议。 三、本半年度报告未经审计。 四、公司负责人刘泉、主管会计工作负责人钱晓钧及会计机构负责人（会计主管人员）田涛声明： 保证半年度报告中财务报告的真实、准确、完整。 五、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 2024年半年度不进行利润分配，不实施分红和资本公积转增股本。 六、前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、是否存在违反规定决策程序对外提供担保的情况 否 九、是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、重大风险提示 ...

2024 年第一季度报告 证券代码：603613 证券简称：国联股份 北京国联视讯信息技术股份有限公司 2024 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 √适用 □不适用 单位:元 币种:人民币 | 非经常性损益项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动性资产处置损益，包括已计提资产减值准备的冲销部分 | -3,900.51 | | | 计入当期损益的政府补助，但与公司正常经营业务密切相关、符合国家政策 | 125,982,403.56 | | | 规定、按照确定的标准享有、对公司损益产生持续影响的政府补助除外 | | | | 除同公司正常经营业务相关的有 ...