中科金财(002657) - 2025 Q2 - 季度财报

Important Notice, Table of Contents, and Definitions This section outlines key disclaimers, the report structure, and definitions of terms used herein Company Profile and Key Financial Indicators This section introduces the company's basic information and presents its key financial performance metrics Company Profile This section provides the company's basic information, including its stock abbreviation 'ZKJF', stock code '002657', full Chinese and English names, and legal representative | Item | Information | | :--- | :--- | | Stock Abbreviation | ZKJF | | Stock Code | 002657 | | Listing Exchange | Shenzhen Stock Exchange | | Company Name | Beijing Zhongke Jincai Technology Co., Ltd. | | Legal Representative | Zhu Yedong | Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue grew by 14.36% year-on-year, but net profit attributable to shareholders of the listed company saw a 71.51% increase in loss, and net cash outflow from operating activities increased by 54.78%; total assets and net assets both slightly decreased compared to the end of the prior year | Key Financial Indicators | Current Period (Yuan) | Prior Period (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 345,159,140.56 | 301,811,431.40 | 14.36% | | Net Profit Attributable to Shareholders (Yuan) | -84,945,843.08 | -49,529,121.23 | -71.51% | | Net Cash Flow from Operating Activities (Yuan) | -253,357,615.22 | -163,689,762.09 | -54.78% | | Basic EPS (Yuan/Share) | -0.2498 | -0.1500 | -66.53% | | Weighted Average ROE (%) | -4.73% | -2.67% | -2.06% | | Asset Indicators | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change from Prior Year-end (%) | | Total Assets (Yuan) | 2,210,628,233.99 | 2,471,026,433.23 | -10.54% | | Net Assets Attributable to Shareholders (Yuan) | 1,752,558,502.76 | 1,835,356,327.68 | -4.51% | Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to -349,635.97 Yuan, primarily comprising government grants, fair value changes in financial assets, and other non-operating income and expenses | Item | Amount (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -567,883.40 | | Government Grants Recognized in Current Profit/Loss | 1,846,423.26 | | Gains/Losses from Fair Value Changes of Financial Assets and Liabilities | 354,747.01 | | Other Non-Operating Income and Expenses | -1,968,228.92 | | Total | -349,635.97 | Management Discussion and Analysis This section provides an in-depth analysis of the company's operations, financial performance, and future outlook from management's perspective Principal Businesses The company provides FinTech, AI, and data center integrated services to financial, government, and enterprise clients, with significant growth in AI and data center service revenues during the period, while FinTech services experienced a decline, as the company actively explores AI Agent, computing infrastructure, and multimodal applications - The company's business aligns with national digital economy development, focusing on FinTech, AI, and data center integrated services to empower client digital and intelligent transformation[33] | Business Segment | Operating Revenue for the Period (Yuan) | | :--- | :--- | | FinTech Integrated Services | 109,284,462.99 | | AI Integrated Services | 48,351,358.59 | | Data Center Integrated Services | 175,363,383.70 | - The company has a comprehensive AI strategy covering computing power, large models, multimodal applications, and AI Agents, establishing ecological partnerships with industry leaders like Alibaba Cloud and Huawei[35][36] - The company has successfully implemented multimodal applications in scenarios such as digital IP overseas expansion and AI digital human live streaming, providing related services to over 200 brands[39] Analysis of Core Competencies The company's core competencies include its long-term digital economy strategy, strong brand recognition, close collaboration with global tech leaders, industry-leading 'AI+Data+Business Know-How' capabilities, comprehensive industry qualifications, and a unique 'multi-level partner operational responsibility system' for talent management - The company serves as the president unit of the Beijing Blockchain Technology Application Association and has participated in the formulation of 9 national and industry standards, demonstrating its industry position and brand image[41] - The company has established multi-level ecological partnerships with leading enterprises in infrastructure, model, and application layers, including Alibaba Cloud, Tencent Cloud, and Huawei, maintaining technological foresight[43] - Leveraging over 20 years of experience in the banking sector, the company has developed core 'AI+Data+Business Know-How' capabilities, forming a solid foundation for products like its AI business process intelligent agent native platform[44][45] - The company holds over 100 industry qualifications and more than 500 software copyrights and patents, ranking among the top in the software service industry for qualification completeness[45] Analysis of Principal Business During the reporting period, the company's total operating revenue increased by 14.36% year-on-year, but its business structure significantly shifted, with financial industry revenue decreasing by 42.12%, while government and public utilities and enterprise sector revenues surged by 135.81% and 172.09% respectively, leading to a 47.45% decline in FinTech services revenue and substantial growth of 189.34% and 101.85% in data center and AI services revenues | Financial Indicator | Current Period (Yuan) | Prior Period (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 345,159,140.56 | 301,811,431.40 | 14.36% | | Operating Cost | 288,436,894.17 | 233,491,735.54 | 23.53% | | R&D Expenditure | 98,327,859.61 | 81,611,152.27 | 20.48% | Operating Revenue by Industry | Industry | Current Period Revenue (Yuan) | % of Total Revenue | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Financial | 125,965,049.26 | 36.50% | -42.12% | | Government and Public Utilities | 63,998,490.12 | 18.54% | 135.81% | | Enterprise | 155,195,601.18 | 44.96% | 172.09% | Operating Revenue by Product | Product | Current Period Revenue (Yuan) | % of Total Revenue | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | FinTech Integrated Services | 109,284,462.99 | 31.66% | -47.45% | | Data Center Integrated Services | 175,363,383.70 | 50.81% | 189.34% | | AI Integrated Services | 48,351,358.59 | 14.01% | 101.85% | Analysis of Assets and Liabilities As of the end of the reporting period, the company's total assets were 2.211 billion Yuan, a 10.54% decrease from the prior year-end, with no significant changes in asset composition, primarily comprising cash and cash equivalents, inventories, long-term equity investments, and other non-current financial assets; contract liabilities decreased, and restricted assets amounted to 28.71 million Yuan, mainly for letter of guarantee deposits and trust custody funds | Asset/Liability Item | Period-end Amount (Yuan) | % of Total Assets | Change from Prior Year-end (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 381,069,445.40 | 17.24% | -5.51% | | Inventories | 374,148,786.61 | 16.92% | 2.28% | | Long-term Equity Investments | 299,298,122.01 | 13.54% | 0.67% | | Other Non-Current Financial Assets | 406,099,190.07 | 18.37% | 2.35% | | Contract Liabilities | 157,513,044.60 | 7.13% | -0.37% | - As of the end of the reporting period, the company had 28,714,076.77 Yuan in restricted assets, primarily consisting of letter of guarantee deposits and trust custody funds[63] Analysis of Investment Status During the reporting period, the company's investment amounted to 10.25 million Yuan, a significant 82.33% decrease from 58.02 million Yuan in the prior year, with no major equity or non-equity investments, and financial asset investments primarily consisting of trust products - Investment during the reporting period was 10.25 million Yuan, a significant 82.33% year-on-year decrease[64] Analysis of Major Holding and Participating Companies During the reporting period, key subsidiaries included Beijing Zhongke Jincai Information Technology Co., Ltd. with a net loss of 68.68 million Yuan and Hunan Zhongke Jincai Zhisu Technology Co., Ltd. with a net loss of 17.60 million Yuan; the company established three new subsidiaries and deregistered one, with no significant impact expected on overall operating performance | Company Name | Type | Net Profit for the Period (Yuan) | | :--- | :--- | :--- | | Beijing Zhongke Jincai Information Technology Co., Ltd. | Subsidiary | -68,678,260.67 | | Hunan Zhongke Jincai Zhisu Technology Co., Ltd. | Subsidiary | -17,595,137.27 | - During the reporting period, the company established Zhongke Jincai (Hong Kong) Technology Co., Ltd., Shanghai Zhike Jincai Digital Technology Co., Ltd., and Anqing Zhike Jincai Zhisu Technology Co., Ltd., while deregistering Zhongke Jincai Insurance Brokerage Co., Ltd[72] Risks and Countermeasures The company faces key risks including market competition, rapid industry technological updates, human resources (especially the scarcity of high-end AI talent), and industry policy changes, which it plans to address by accelerating business expansion, increasing R&D investment, improving talent retention mechanisms, and continuously monitoring policy developments - Market competition risk: The company will accelerate business expansion and increase market development efforts to mitigate this risk[75] - Industry technology risk: The company will increase technology R&D investment, improve its R&D system, and enhance innovation capabilities[76] - Human resource risk: The company will strengthen talent cultivation and recruitment by upgrading its multi-level partner operational responsibility system[77] - Policy risk: The company will strictly adhere to laws and regulations, continuously monitor and research relevant policy changes to prevent risks[78] Corporate Governance, Environment, and Society This section details the company's governance structure, environmental initiatives, and social responsibilities, including shareholder rights, employee development, and community engagement Corporate Governance and Social Responsibility During the reporting period, the company's governance structure remained stable with only one Vice General Manager appointed, and no semi-annual profit distribution is planned; regarding social responsibility, the company emphasizes protecting shareholder and creditor rights, fostering win-win cooperation with suppliers and clients, and prioritizing employee development through its 'multi-level partner operational responsibility system' and diverse training programs - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[84] - The company actively fulfills its social responsibilities, including protecting shareholder interests, achieving win-win outcomes with partners, and prioritizing employee development through its 'Zhongke Jincai Multi-level Partner Operational Responsibility System'[86][89] Significant Matters This section covers significant events and disclosures, including commitments, related party transactions, and ongoing legal proceedings Overview of Significant Matters During the reporting period, the company had no significant commitments, no controlling shareholder fund occupation, no illegal guarantees, no major asset sales, no significant related-party transactions, or other major contracts; the semi-annual financial report is unaudited, and there are 6 pending litigation or arbitration cases totaling 47.0942 million Yuan - During the reporting period, the company had no commitments from the actual controller, shareholders, or other related parties, no non-operating fund occupation, no illegal guarantees, and no significant related-party transactions[93][94][95][102] - The company's semi-annual financial report is unaudited[96] - As of the end of the reporting period, the company had 6 pending litigation or arbitration cases, with a total amount involved of 47.0942 million Yuan[99] Share Capital Changes and Shareholder Information This section details changes in the company's share capital structure and provides an overview of its shareholder base Share Capital Changes During the reporting period, the company's total share capital remained unchanged at 340,051,995 shares, with unrestricted shares accounting for 98.91%; the company completed a share repurchase on March 5, 2025, repurchasing a cumulative 1,476,155 shares, representing 0.43% of total share capital, for a total transaction amount of approximately 20 million Yuan - The company's total share capital remained unchanged at 340,051,995 shares during the reporting period[119][120] - The company completed its share repurchase plan, repurchasing a total of 1,476,155 shares (0.43% of total share capital), with a total amount of 20,000,955.55 Yuan[120] Shareholder Information As of the end of the reporting period, the company had 95,822 common shareholders, with the top two being domestic natural person Shen Sa (8.12% stake) and Hong Kong Securities Clearing Company Limited (2.30% stake); the actual controllers, Zhu Yedong and Shen Sa, are a married couple - As of the end of the reporting period, the total number of common shareholders was 95,822[125] | Shareholder Name | Shareholding Percentage | Number of Shares Held (Shares) | | :--- | :--- | :--- | | Shen Sa | 8.12% | 27,623,918 | | Hong Kong Securities Clearing Company Limited | 2.30% | 7,812,271 | | Wang Qinying | 1.85% | 6,301,600 | | Zhu Yedong | 0.96% | 3,264,533 | - Shareholders Zhu Yedong and Shen Sa are a married couple, forming a concerted party[126] Bond-Related Information This section provides details on the company's bond issuance and related financial instruments Bond Information During the reporting period, the company had no bond-related information Financial Report This section presents the company's consolidated financial statements, including the balance sheet, income statement, and cash flow statement, along with detailed notes Financial Statements The financial statements indicate that in the first half of 2025, the company experienced a decrease in total assets, year-on-year growth in operating revenue, but an expanded net loss; operating cash flow remained negative with increased outflow, net cash inflow from investing activities significantly decreased, and financing cash flow remained largely stable Consolidated Balance Sheet As of the end of the reporting period, the company's total assets were 2.211 billion Yuan, a 10.54% decrease from the beginning of the period; total liabilities were 458 million Yuan, a 27.94% decrease; and equity attributable to the parent company was 1.753 billion Yuan, a 4.51% decrease, maintaining a relatively stable asset and liability structure | Item | Period-end Balance (Yuan) | Beginning Balance (Yuan) | | :--- | :--- | :--- | | Total Assets | 2,210,628,233.99 | 2,471,026,433.23 | | Total Liabilities | 458,047,616.52 | 635,648,000.55 | | Total Equity Attributable to Parent Company | 1,752,558,502.76 | 1,835,356,327.68 | Consolidated Income Statement In the first half of 2025, the company achieved total operating revenue of 345 million Yuan, a 14.36% year-on-year increase; however, due to increased operating costs and R&D expenses, operating profit was -82.45 million Yuan, with losses expanding by 67.99% year-on-year, and net profit attributable to the parent company was -84.95 million Yuan, with losses expanding by 71.51% year-on-year | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 345,159,140.56 | 301,811,431.40 | | Total Operating Cost | 442,646,775.66 | 372,455,046.95 | | Of which: R&D Expenses | 98,327,859.61 | 81,611,152.27 | | Operating Profit | -82,450,234.08 | -49,080,977.70 | | Total Profit | -84,550,234.08 | -49,307,551.86 | | Net Profit Attributable to Parent Company Shareholders | -84,945,843.08 | -49,529,121.23 | Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was -253 million Yuan, with net outflow expanding by 54.78% year-on-year, primarily due to increased cash payments for goods and services; net cash flow from investing activities was 82.01 million Yuan, a 72.96% year-on-year decrease, mainly due to reduced wealth management investments; net cash outflow from financing activities was 1.99 million Yuan, resulting in a net decrease of 173 million Yuan in cash and cash equivalents | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -253,357,615.22 | -163,689,762.09 | | Net Cash Flow from Investing Activities | 82,011,695.30 | 303,289,697.93 | | Net Cash Flow from Financing Activities | -1,993,091.77 | -47,148,688.95 | | Net Increase/Decrease in Cash and Cash Equivalents | -173,339,011.69 | 92,451,246.89 | Notes to Consolidated Financial Statements This section provides detailed explanations for key items in the consolidated financial statements, noting an increase in accounts receivable book balance with stable bad debt provision, investment income of 3.57 million Yuan from long-term equity investment in Anliang Futures, goodwill original book value of 818 million Yuan with accumulated impairment of 794 million Yuan and no new impairment this period, and R&D expenses increasing by 20.48% to 98.33 million Yuan Accounts Receivable At the end of the period, the book balance of accounts receivable was 226 million Yuan, a slight increase from the beginning of the period; bad debt provisions of 42.52 million Yuan were made based on aging, representing an 18.91% provision rate, with the top five debtors accounting for 49.97% of the total accounts receivable | Aging | Period-end Book Balance (Yuan) | | :--- | :--- | | Within 1 Year | 170,467,644.16 | | 1 to 2 Years | 5,178,946.61 | | 2 to 3 Years | 14,493,903.76 | | Over 3 Years | 36,093,749.42 | | Total | 226,234,243.95 | Long-term Equity Investments At the end of the period, the book value of long-term equity investments was 299 million Yuan, a decrease from the beginning of the period, primarily comprising investments in associates such as Anliang Futures and Aihuaren Technology; during the reporting period, investment income recognized under the equity method was 3.27 million Yuan, and dividends of 22 million Yuan were received from Anliang Futures - For the investment in associate Anliang Futures Co., Ltd., investment income of 3,567,593.86 Yuan was recognized in the current period, and cash dividends of 22,000,000.00 Yuan were received[376] Goodwill At the end of the period, the original book value of goodwill was 818 million Yuan, primarily from the acquisitions of Tianjin Zhongke Jincai and Beijing Zhidongfang; accumulated impairment provisions amounted to 794 million Yuan, resulting in a goodwill book value of 23.76 million Yuan, with no new goodwill impairment recognized in the current reporting period | Item | Original Book Value (Yuan) | Impairment Provision (Yuan) | Book Value (Yuan) | | :--- | :--- | :--- | :--- | | Tianjin Zhongke Jincai | 624,031,391.94 | 624,031,391.94 | 0.00 | | Beijing Zhidongfang | 193,578,999.56 | 169,823,416.08 | 23,755,583.48 | | Total | 817,731,082.47 | 793,975,498.99 | 23,755,583.48 | R&D Expenses During the reporting period, the company's total R&D expenses amounted to 98.33 million Yuan, a 20.48% year-on-year increase, primarily composed of employee compensation, service fees, and depreciation expenses | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Employee Compensation Payable | 50,040,063.89 | 54,986,853.85 | | Service Fees | 19,014,620.06 | 4,860,479.00 | | Depreciation Expense | 16,956,843.45 | 10,641,357.19 | | Equity Incentive Expenses | 2,148,018.16 | 5,566,232.91 | | Total | 98,327,859.61 | 81,611,152.27 | Other Submitted Data This section includes additional data submitted by the company, such as investor relations activities Investor Relations Activities During the reporting period, the company engaged with various institutional and individual investors through multiple channels, including phone calls, online platforms, and on-site visits, primarily discussing the company's business development - During the reporting period (February to May), the company frequently communicated with institutional and individual investors through various methods, including phone calls, online platforms, and on-site research[597][598][599]