WISCOM(SZ:002090)2025-04-29 08:20Financial Summary and Performance Analysis Core Financial Indicators Q1 2025 saw a 22.56% revenue decline to 311 million yuan and a 19.81% net profit decrease to 15.3 million yuan, primarily due to business restructuring, though operating cash flow improved by 73.84% Key Financial Indicators | Indicator | Current Period (RMB) | Prior Year Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 311,458,112.34 | 402,180,923.28 | -22.56% | | Net Profit Attributable to Shareholders | 15,296,857.29 | 19,075,097.92 | -19.81% | | Non-recurring Net Profit Attributable to Shareholders | 13,611,519.42 | 17,594,057.98 | -22.64% | | Net Cash Flow from Operating Activities | -49,920,715.99 | -190,814,910.59 | 73.84% | | Basic Earnings Per Share (RMB/share) | 0.0382 | 0.0476 | -19.75% | | Weighted Average Return on Net Assets | 1.01% | 1.30% | -0.29% | | Total Assets | 3,001,287,633.08 | 3,028,875,591.74 | -0.91% | | Shareholders' Equity Attributable to Parent | 1,519,183,885.51 | 1,503,887,028.22 | 1.02% | Non-recurring Gains and Losses During the reporting period, the company's total non-recurring gains and losses amounted to 1.6853 million yuan, primarily from 1.2526 million yuan in financial asset-related gains/losses and 0.559 million yuan in government subsidies Non-recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -346.81 | | Government Grants Recognized in Current Profit/Loss | 558,961.31 | | Gains/Losses from Financial Assets and Liabilities | 1,252,636.27 | | Other Non-operating Income and Expenses | 213,596.49 | | Less: Income Tax Impact | 341,939.57 | | Less: Impact on Minority Interests (After Tax) | -2,430.18 | | Total | 1,685,337.87 | Financial Indicator Variation Analysis Current period financial indicator changes are primarily due to business restructuring and operational strategies, with revenue and profit declines linked to subsidiary divestiture and reduced smart city business, while operating cash flow significantly improved from increased collections and controlled procurement - Operating revenue decreased by 22.56% year-on-year, and net profit attributable to the parent company decreased by 19.81%, primarily due to the transfer of 51% equity in Beijing Yipu at the end of last year, which is no longer consolidated, and reduced revenue from smart city business7 - Net cash flow from operating activities increased by 73.84% year-on-year, mainly due to increased cash received from sales of goods and services, and decreased cash paid for purchases of goods and services in the current period7 - Accounts receivable decreased by 14.01% from the beginning of the year, primarily due to the company's intensified efforts in collecting payments8 - Salaries and wages payable significantly decreased by 89.62% from the beginning of the year, mainly due to the payment of employee bonuses in the current period9 - Net cash flow from investing activities significantly increased by 961.82% year-on-year, primarily due to increased redemption of matured wealth management products in the current period9 Shareholder Information Shareholder Ownership Structure As of the end of the reporting period, the company had 50,406 common shareholders, with Jiangsu Jinzhi Group Co., Ltd. as the largest shareholder at 20.03%, and the top shareholder, along with certain executives, forming a concerted party - Total number of common shareholders at the end of the reporting period was 50,406 households12 Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Ratio (%) | Number of Shares Held | Shareholder Nature | | :--- | :--- | :--- | :--- | | Jiangsu Jinzhi Group Co., Ltd. | 20.03% | 80,252,460 | Domestic Non-state-owned Legal Person | | Chen Jianyou | 1.60% | 6,402,197 | Domestic Natural Person | | Lin Hui | 0.95% | 3,824,000 | Domestic Natural Person | | He Anyang | 0.79% | 3,147,592 | Domestic Natural Person | | Guo Wei | 0.70% | 2,814,520 | Domestic Natural Person | | Zhu Huaming | 0.50% | 1,990,090 | Domestic Natural Person | | Wang Yonghong | 0.39% | 1,557,300 | Domestic Natural Person | | Qi Haiyan | 0.36% | 1,431,800 | Domestic Natural Person | | Li Ming | 0.36% | 1,430,000 | Domestic Natural Person | | Zhang Wuwei | 0.29% | 1,165,000 | Domestic Natural Person | - Major shareholder Jiangsu Jinzhi Group Co., Ltd. has an associated relationship with company directors He Anyang, Zhu Huaming, and shareholder Guo Wei, forming a legally concerted party12 Quarterly Financial Statements Consolidated Balance Sheet As of March 31, 2025, total assets were 3.001 billion yuan, a slight 0.91% decrease from the beginning of the period, while total liabilities were 1.483 billion yuan, down 2.79%, and equity attributable to the parent increased by 1.02% to 1.519 billion yuan Consolidated Balance Sheet | Major Items | Period-end Balance (RMB) | Period-start Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 3,001,287,633.08 | 3,028,875,591.74 | | Total Current Assets | 2,389,603,028.39 | 2,376,043,743.88 | | Total Non-current Assets | 611,684,604.69 | 652,831,847.86 | | Total Liabilities | 1,482,523,673.50 | 1,525,147,013.49 | | Total Current Liabilities | 1,471,059,058.53 | 1,513,159,075.82 | | Total Non-current Liabilities | 11,464,614.97 | 11,987,937.67 | | Total Owners' Equity | 1,518,763,959.58 | 1,503,728,578.25 | | Total Owners' Equity Attributable to Parent Company | 1,519,183,885.51 | 1,503,887,028.22 | Consolidated Income Statement In Q1 2025, the company reported total operating revenue of 311 million yuan, down 22.56%, and total operating costs of 299 million yuan, down 23.37%, resulting in a net profit attributable to the parent company of 15.2969 million yuan, a 19.81% decrease Consolidated Income Statement | Major Items | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | I. Total Operating Revenue | 311,458,112.34 | 402,180,923.28 | | II. Total Operating Costs | 298,829,524.53 | 389,963,356.25 | | Including: Operating Costs | 228,294,531.21 | 304,869,427.47 | | Selling Expenses | 24,518,676.84 | 30,455,334.70 | | Administrative Expenses | 19,139,854.95 | 20,182,907.08 | | R&D Expenses | 28,608,276.73 | 35,411,103.46 | | III. Operating Profit | 19,403,226.18 | 18,588,699.96 | | IV. Total Profit | 19,416,425.78 | 18,652,249.19 | | V. Net Profit | 15,035,381.33 | 17,366,003.54 | | Net Profit Attributable to Parent Company | 15,296,857.29 | 19,075,097.92 | | VIII. Earnings Per Share | | | | (I) Basic Earnings Per Share | 0.0382 | 0.0476 | Consolidated Cash Flow Statement In Q1 2025, net cash flow from operating activities significantly improved to -49.92 million yuan from -191 million yuan year-on-year, while net cash flow from investing activities turned positive at 46.27 million yuan, and financing activities resulted in -6.34 million yuan, with cash and cash equivalents at 269 million yuan at period-end Consolidated Cash Flow Statement | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | I. Net Cash Flow from Operating Activities | -49,920,715.99 | -190,814,910.59 | | Subtotal of Cash Inflows from Operating Activities | 455,342,905.85 | 405,526,459.25 | | Subtotal of Cash Outflows from Operating Activities | 505,263,621.84 | 596,341,369.84 | | II. Net Cash Flow from Investing Activities | 46,272,687.50 | 4,357,867.57 | | Subtotal of Cash Inflows from Investing Activities | 680,840,485.06 | 240,670,637.29 | | Subtotal of Cash Outflows from Investing Activities | 634,567,797.56 | 236,312,769.72 | | III. Net Cash Flow from Financing Activities | -6,339,947.11 | 122,863,486.64 | | Subtotal of Cash Inflows from Financing Activities | 95,000,000.00 | 170,150,000.00 | | Subtotal of Cash Outflows from Financing Activities | 101,339,947.11 | 47,286,513.36 | | V. Net Increase in Cash and Cash Equivalents | -9,989,266.13 | -63,592,000.80 | | VI. Cash and Cash Equivalents at Period-end | 268,955,872.45 | 606,992,095.96 |