开普检测(003008) - 2025 Q2 - 季度财报

Important Notice, Table of Contents, and Definitions This section provides the company's important notices, outlines the report's structure, and defines key terms used throughout the document Important Notice The Board of Directors ensures the report's accuracy and completeness, with forward-looking statements not constituting commitments, and approved the semi-annual profit distribution plan - The Board of Directors approved a profit distribution plan to distribute a cash dividend of 3 yuan (tax inclusive) per 10 shares to all shareholders, based on 104,000,000 shares, with no bonus shares or capital reserve conversions[5] Table of Contents This report comprises nine chapters, covering the company's basic information, financial indicators, management discussion, corporate governance, and financial statements Definitions This section defines key abbreviations used in the report, such as 'Company' and 'Zhuhai Kaipu', and specifies the reporting period from January 1 to June 30, 2025 Company Profile and Key Financial Indicators This section introduces the company's basic information and presents its key financial performance indicators for the reporting period Company Profile Xuchang Kaipu Testing Research Institute Co., Ltd. (Kaipu Testing, stock code 003008) is a company listed on the Shenzhen Stock Exchange, with Yao Zhiqing as its legal representative Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue and net profit attributable to shareholders both saw slight year-on-year growth, with non-recurring adjusted net profit increasing by 14.23%, indicating enhanced core business profitability, while total assets slightly decreased from the end of the previous year H1 2025 Key Financial Indicators | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (million yuan) | 111.33 | 107.85 | 3.23% | | Net Profit Attributable to Shareholders (million yuan) | 40.79 | 39.32 | 3.73% | | Net Profit Attributable to Shareholders (Excl. Non-Recurring Items) (million yuan) | 38.87 | 34.03 | 14.23% | | Net Cash Flow from Operating Activities (million yuan) | 51.32 | 49.97 | 2.71% | | Basic EPS (yuan/share) | 0.39 | 0.38 | 2.63% | | Weighted Average ROE | 3.77% | 3.63% | 0.14% | | End of Current Period | End of Prior Year | YoY Change | | Total Assets (billion yuan) | 1.11 | 1.16 | -3.94% | | Net Assets Attributable to Shareholders (billion yuan) | 1.07 | 1.08 | -1.04% | Non-Recurring Gains and Losses and Amounts During the reporting period, the company's non-recurring gains and losses totaled 1.92 million yuan, primarily from fair value changes of financial assets held by non-financial enterprises, partially offset by non-operating expenses Non-Recurring Gains and Losses Items | Item | Amount (million yuan) | | :--- | :--- | | Fair value changes of financial assets and liabilities held by non-financial enterprises | 4.11 | | Government grants recognized in current profit/loss | 0.19 | | Other non-operating income and expenses | -2.11 | | Other non-recurring gains and losses | 0.07 | | Less: Income tax impact | 0.34 | | Total | 1.92 | Management Discussion and Analysis This section provides an in-depth analysis of the company's operations, financial condition, and future outlook Principal Businesses During the Reporting Period The company's core business is testing services for new power system equipment, benefiting from national industrial policy support in new energy and smart grids, offering broad industry prospects through 'technical marketing' and 'all-staff marketing' to provide independent third-party testing and impartial reports - The company's principal business is testing services for new power system equipment, primarily including power system protection and control devices, new energy control equipment and systems, and electric vehicle charging and swapping systems[26][31] - Industry development is strongly driven by national macro policies such as the '14th Five-Year Plan', dual carbon goals, and new power system construction, with increased investment from grid companies bringing broad market prospects for the power equipment testing industry[27][28][30] Analysis of Core Competencies The company's core competitiveness lies in its industry position, technological advantages, and innovation management, holding multiple national-level testing center qualifications, leading or participating in numerous standard revisions, and implementing a unique 'Double Five-Star' innovation management mechanism to enhance operational efficiency and customer satisfaction - The company holds multiple national-level testing center qualifications, including the 'National Relay Protection and Automation Equipment Quality Inspection and Testing Center', and is designated as a 'Mandatory Product Certification Laboratory for Electric Vehicle Power Supply Equipment' (CCC certification laboratory)[36] - During the reporting period, the company participated in the revision of 12 standards, and in recent years, has cumulatively led or participated in the revision of 151 international, national, industry, and group standards, demonstrating its technological leadership in the industry[37][38] - The company has established a 'Double Five-Star Support, Three Innovation Breakthroughs' innovation management mechanism aimed at 'creating new value for customers', and upgraded its corporate culture 2.0 system during the reporting period, establishing new missions, visions, and values[40][41] Analysis of Principal Business During the reporting period, the company maintained stable overall performance with year-on-year growth in revenue and net profit, driven by power system protection and control equipment testing and new energy testing, while EV charging system testing revenue significantly declined due to policy changes, and testing equipment sales saw explosive growth due to surging customized demand Financial Performance Overview In H1 2025, the company achieved 111.33 million yuan in operating revenue, up 3.23% year-on-year, and 40.79 million yuan in net profit attributable to shareholders, up 3.73%, realizing dual growth in revenue and profit H1 2025 Financial Overview | Indicator | Amount (million yuan) | YoY Growth | | :--- | :--- | :--- | | Operating Revenue | 111.33 | 3.23% | | Net Profit Attributable to Shareholders | 40.79 | 3.73% | Performance by Business Segment During the reporting period, core power system protection and control equipment testing grew by 7.23%, new energy control equipment testing by 17.74%, while EV charging system testing revenue significantly dropped by 55.33% due to new CCC certification policies, and testing equipment sales surged over 100 times due to increased customer demand H1 2025 Revenue by Business Segment | Business Segment | Revenue Amount (million yuan) | YoY Change | | :--- | :--- | :--- | | New Power System Equipment Testing Services | 104.83 | -2.01% | | - Power System Protection and Control Equipment Testing | 79.97 | 7.23% | | - Electric Vehicle Charging and Swapping System Testing | 8.12 | -55.33% | | - New Energy Control Equipment and System Testing | 16.74 | 17.74% | | Other Technical Services | 0.77 | 282.50% | | Testing Equipment Sales | 5.12 | 11465.40% | Business Expansion: Deepening Technical Marketing, Building Brand Value The company deepened technical marketing through standard setting and academic conferences, expanded new energy testing capacity for energy storage converters and PV inverters, obtained charging pile CCC certification, extended on-site testing to integrated solar-storage power station acceptance, and its Zhuhai subsidiary actively developed the Pearl River Delta market in distribution network and medical electrical equipment - The company obtained the first batch of 'Mandatory Product Certification Laboratory for Electric Vehicle Power Supply Equipment' (i.e., CCC certification laboratory) qualifications authorized by the National Certification and Accreditation Administration, and has already commenced CCC certification testing for multiple charging pile products[47] - Zhuhai Kaipu, a subsidiary, leveraging the 'National Smart Distribution Network Automation Equipment and System Quality Inspection and Testing Center' platform, has gradually expanded its testing market and client base in the Pearl River Delta region for distribution network and medical electrical equipment[48] Scientific Research and Innovation: Strengthening R&D Upgrades, Enhancing Independent Testing Capabilities During the reporting period, the company's R&D investment reached 5.97 million yuan, a 20.17% year-on-year increase, focusing on advanced areas like new energy controller simulation, multi-country grid-connection standard research, CMS protocol simulation, and electrical component traceability to enhance independent testing capabilities and market share - The company's R&D investment was 5.972 million yuan, a year-on-year increase of 20.17%[52] - R&D focuses include new energy controller simulation models, converter grid-connection technology based on European and American standards, CMS protocol simulation tools, and component traceability assessment methods[50] Analysis of Assets and Liabilities As of the end of the reporting period, the company's total assets were 1.11 billion yuan, a 3.94% decrease from the previous year-end, with a stable asset structure and no significant changes, and transactional financial assets (primarily wealth management products) accounting for over 50% of total assets, making them a key asset category - The ending balance of transactional financial assets was 581 million yuan, accounting for 52.29% of total assets, primarily comprising structured deposits and income certificates[59][61][225] Analysis of Investment Status During the reporting period, the company's investment activities primarily involved using its own funds to purchase wealth management products from banks and brokers, with no significant equity or non-equity investments, securities investments, or derivative investments Wealth Management Details | Type | Transaction Amount (million yuan) | Unmatured Balance (million yuan) | | :--- | :--- | :--- | | Bank Wealth Management Products | 500 | 470 | | Brokerage Wealth Management Products | 110 | 110 | | Total | 610 | 580 | Risks Faced by the Company and Countermeasures The company identified five major risks: macroeconomic and industry policy, quality control errors, management challenges from rapid business expansion, lack of a controlling shareholder, and changes in tax preferential policies, for which it has developed countermeasures such as strengthening policy research, strict quality management, and optimizing internal controls and management teams - The company faces major risks including: macroeconomic and policy changes, quality control, expansion management, absence of a controlling shareholder, and changes in tax preferential policies[71][72][73][74] Corporate Governance, Environment, and Society This section details the company's corporate governance structure, environmental initiatives, and social responsibility efforts Changes in Directors, Supervisors, and Senior Management During the reporting period, there were no changes in the company's directors, supervisors, or senior management, and the company proposed a profit distribution plan of 3 yuan (tax inclusive) cash dividend per 10 shares to reward shareholders - There were no changes in the company's directors, supervisors, or senior management during the reporting period[76] - A cash dividend of 3.00 yuan (tax inclusive) per 10 shares is proposed to all shareholders, totaling 31.20 million yuan (tax inclusive)[77] Social Responsibility The company actively fulfills its social responsibilities, investing in protecting shareholder, employee, customer, and supplier rights, environmental protection, and public welfare, notably with its campus microgrid system generating 600,000 kWh in H1, covering 25.2% of total campus electricity consumption, reflecting its sustainable development philosophy - The company actively fulfills its social responsibilities in protecting the rights of shareholders, employees, customers, and suppliers, as well as in environmental protection and social welfare[80] - The company's campus microgrid system generated 600,000 kWh in H1 2025, with self-generated and self-consumed electricity accounting for 25.2% of the campus's total electricity consumption, effectively reducing carbon emissions[86] Significant Matters This section covers significant events, commitments, and transactions that occurred during the reporting period Commitments, Guarantees, and Litigation During the reporting period, the company had no fulfilled or overdue unfulfilled commitments, no occupation of funds by controlling shareholders, no illegal external guarantees, and no significant litigation or arbitration matters - During the reporting period, the company had no significant commitments, illegal guarantees, or major litigation/arbitration matters[89][91][94] Related Party Transactions and Significant Contracts During the reporting period, the company had no significant related party transactions related to daily operations, and its major contracts primarily involved wealth management using its own funds, with a total transaction amount of 610 million yuan - The company had no significant related party transactions related to daily operations during the reporting period[96] - The company used its own funds for wealth management, with a total transaction amount of 610 million yuan during the reporting period and an unmatured balance of 580 million yuan[108] Share Changes and Shareholder Information This section outlines changes in the company's share capital and provides details on its shareholder structure Share Changes As of the end of the reporting period, the company's total share capital remained unchanged at 104,000,000 shares, with restricted shares accounting for 25.15% and unrestricted shares for 74.85% - The company's total share capital remained unchanged at 104,000,000 shares during the reporting period[114][115] Shareholder Information As of the end of the reporting period, the company had 10,094 common shareholders, with Xuchang Kaipu Electric Power Research Institute Co., Ltd. as the largest shareholder holding 22.50%, and the top three shareholders having similar stakes with no concerted action, resulting in no actual controlling shareholder - As of the end of the reporting period, the total number of common shareholders was 10,094[116] Top Three Shareholders' Shareholding | Shareholder Name | Shareholder Type | Shareholding Ratio | | :--- | :--- | :--- | | Xuchang Kaipu Electric Power Research Institute Co., Ltd. | State-owned Legal Person | 22.50% | | Yao Zhiqing | Domestic Natural Person | 16.76% | | Li Yaping | Domestic Natural Person | 11.23% | - The company has no actual controlling shareholder, and there are no related party relationships or concerted actions among the top three shareholders[73][118] Bond-Related Information This section provides information regarding the company's bond-related activities and status Bond-Related Information During the reporting period, the company had no bond-related information Financial Report This section presents the company's audited and unaudited financial statements and detailed notes Audit Report The company's 2025 semi-annual financial report is unaudited Financial Statements This section provides the company's consolidated and parent company balance sheets as of June 30, 2025, and consolidated and parent company income statements, cash flow statements, and statements of changes in owners' equity for H1 2025 Notes to Consolidated Financial Statements This section provides detailed notes on key items in the consolidated financial statements, including the composition, changes, and accounting policies for cash and cash equivalents, transactional financial assets, accounts receivable, fixed assets, operating revenue and costs, and various expenses - The ending balance of monetary funds was 89.59 million yuan, of which 26,500 yuan was restricted as letter of guarantee deposits[224] - The ending balance of transactional financial assets was 581 million yuan, primarily comprising structured deposits (471 million yuan) and income certificates (110 million yuan)[225] - The ending book balance of accounts receivable was 24.26 million yuan, primarily within 1 year of aging, with a bad debt provision ratio of 3.63%[238][240] - Operating revenue was 111 million yuan, of which principal business revenue was 110.7 million yuan; operating cost was 34.62 million yuan[444] 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 held online performance briefings and offline institutional research activities, engaging with investors on its business development - During the reporting period, the company held online performance briefings and offline institutional research activities, engaging with investors on its business development[629]