诚迈科技(300598) - 2025 Q2 - 季度财报

Important Notice, Table of Contents, and Definitions This section provides essential disclaimers, outlines the report's structure, and defines key terms for clarity Important Notice The Board of Directors, Supervisory Board, and senior management guarantee the report's accuracy and completeness, with financial officers affirming the financial statements - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming individual and joint legal responsibility[4] - Company head Wang Jiping, chief financial officer Huang Haiyan, and head of accounting Chen Xinyu declare that the financial report in this semi-annual report is true, accurate, and complete[4] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[5] Table of Contents This report's clear table of contents includes major sections such as company profile, key financial indicators, management discussion, corporate governance, and financial statements Definitions This section provides definitions for key terms and abbreviations used in the report, ensuring accurate understanding of its content - OpenHarmony: An open-source operating system for all scenarios, distributed, open, and operated by the Open Atom Open Source Foundation[10] - CMMI: Capability Maturity Model Integration, for which the company has achieved the highest Level 5 certification[10][11] - Reporting Period: Refers to January 1, 2025, to June 30, 2025[10] Company Profile and Key Financial Indicators This section provides an overview of the company, including its profile, key accounting data, and significant financial indicators Company Profile ArcherMind Technology (Nanjing) Co, Ltd, stock code 300598, is listed on the Shenzhen Stock Exchange, with its enterprise type changing from "Foreign-invested, Listed" to "Listed" during the reporting period Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | ArcherMind Technology | | Stock Code | 300598 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | 诚迈科技（南京）股份有限公司 | | English Name | ArcherMind Technology (Nanjing) Co., Ltd. | | Legal Representative | Wang Jiping | - The company's enterprise type changed from "Joint Stock Company (Foreign-invested, Listed)" to "Joint Stock Company (Listed)", with industrial and commercial registration completed on January 20, 2025[17][18] Key Accounting Data and Financial Indicators During this reporting period, the company's operating revenue increased by 17.86% to 1.019 billion Yuan, but net profit attributable to shareholders decreased by 2.11% to -56.72 million Yuan Key Accounting Data and Financial Indicators (Current Period vs Prior Year) | Indicator | Current Period (Yuan) | Prior Year (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,018,655,861.34 | 864,265,999.57 | 17.86% | | Net Profit Attributable to Shareholders | -56,717,647.61 | -55,546,983.88 | -2.11% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -64,960,196.82 | -70,710,359.27 | 8.13% | | Net Cash Flow from Operating Activities | -248,177,082.58 | -106,021,656.60 | -134.08% | | Basic Earnings Per Share (Yuan/share) | -0.2614 | -0.2561 | -2.07% | | Diluted Earnings Per Share (Yuan/share) | -0.2620 | -0.2561 | -2.30% | | Weighted Average Return on Net Assets | -3.74% | -3.65% | -0.09% | Key Accounting Data and Financial Indicators (Current Period End vs Prior Year End) | Indicator | Current Period End (Yuan) | Prior Year End (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,783,780,952.77 | 2,557,537,315.18 | 8.85% | | Net Assets Attributable to Shareholders | 1,493,529,268.57 | 1,544,314,932.07 | -3.29% | - Net cash flow from operating activities decreased by 134.08% year-on-year, primarily due to increased raw material procurement for the domestic PC business[19] Non-recurring Gains and Losses and Amounts Total non-recurring gains and losses for this reporting period amounted to 8.24 million Yuan, primarily from disposal of non-current assets, government grants, and fair value changes Non-recurring Gains and Losses and Amounts | Item | Amount (Yuan) | Explanation | | :--- | :--- | :--- | | Gains and losses from disposal of non-current assets | 18,553.34 | | | Government grants included in current profit and loss | 2,418,213.16 | | | Gains and losses from changes in fair value | -1,782,775.24 | | | Other non-operating income and expenses | -40,889.96 | | | Other gains and losses that meet the definition of non-recurring gains and losses | 8,120,429.64 | Non-recurring gains and losses of associates | | Less: Income tax impact | 96,363.05 | | | Minority interest impact (after tax) | 394,618.68 | | | Total | 8,242,549.21 | | Management Discussion and Analysis This section offers management's perspective on the company's operations, financial performance, and future outlook Main Businesses During the Reporting Period The company focuses on operating system technology, providing software services and solutions across mobile intelligent terminals, intelligent connected vehicles, IoT, and industrial digitalization - The company focuses on operating system technology, positioning itself as a leading operating system expert, with its main business being software technical services and solution R&D and sales[26] - During the reporting period, the company achieved operating revenue of 1.019 billion Yuan, a year-on-year increase of 17.86%; net profit attributable to ordinary shareholders of the parent company was -56.72 million Yuan, a year-on-year decrease of 2.11%[27] - Revenue from mobile intelligent terminal software reached 484.45 million Yuan, a year-on-year increase of 22.04%; revenue from intelligent connected vehicle software business was 228.19 million Yuan, a year-on-year decrease of 0.16%[27][28] - The OpenHarmony commercial distribution HongZOS has iterated to V5.0 and is being promoted for applications in industrial, energy, transportation, education, and security sectors[26][30] - The company launched high-performance domestic PCs based on the Loongson 3A6000 processor and UOS operating system, actively expanding into the domestic computing sector and potential markets[26][30] Company's Main Businesses, Products, and Their Uses The company's main businesses include mobile intelligent terminals, intelligent connected vehicles, ubiquitous IoT operating systems, and industrial digitalization solutions - In the intelligent connected vehicle software domain, the company continues to iterate and develop the cross-domain integrated vehicle operating system FusionEX8.0, central control domain software platform FusionWise3.0, and assisted driving domain software platform FusionDrive3.0, based on chips from Qualcomm, NVIDIA, and other manufacturers[26] - The company has developed the ArraymoAIOS AI agent product, enabling intelligent voice interaction and supporting navigation, music, air conditioning, and other scenario functions, upgrading automotive applications to AI applications[26] - In the OpenHarmony domain, the company's commercial distribution operating system HongZOS has released V5.0, and based on this, it has developed multiple categories of hardware products and industry applications[26] - The company actively explores the application of artificial intelligence technology in end-cloud integrated solutions for intelligent vehicles, intelligent terminals, and IoT devices[26] - The company and its controlled subsidiaries have launched high-performance domestic PCs based on the Loongson 3A6000 processor and UOS operating system[26] Company's Business Model The company primarily operates through three business models: software technical services, software customization services, and the development and sales of software and hardware products - Software Technical Services: The company deploys professional technical teams to provide technical development, consulting, and support services in client-designated product R&D stages, charging technical service fees based on personnel quotes and workload[31] - Software Customization Services: Clients commission the company to develop software, and the company delivers results according to strict procedures, charging customization development fees[31] - Software and Hardware Product Development and Sales: The company designs and develops complete software and hardware products based on client requirements, through procurement or self-development, and charges corresponding fees[31] Company's Main Performance Drivers The company's performance is driven by industry trends and its inherent strengths, including strong client relationships, technological leadership, and market insight - Mobile Intelligent Terminal Software: The company strengthens cooperation with leading industry clients, maintains steady business development, and actively focuses on R&D demands in new areas such as AI phones and AI applications[32] - Intelligent Connected Vehicle Software: The automotive industry is accelerating its transformation towards Software-Defined Vehicles (SDV), with electronic and electrical architecture upgrades, software architecture moving towards SOA, and central computing platforms becoming a new battleground[33] - IoT Operating Systems: OpenHarmony continues to iterate and gradually enters various industries, with the company actively seeking innovative application scenarios and providing HongZOS-based solutions[34] - Company's Own Advantages: Possesses high-quality client resources, primarily global renowned manufacturers, and has established good, stable, and long-term cooperative relationships with multiple clients[35] Industry Situation During the Reporting Period In the first half of 2025, China's software and information technology service industry achieved 7.0585 trillion Yuan in revenue, growing by 11.9% - In the first half of 2025, China's software business revenue was 7.0585 trillion Yuan, a year-on-year increase of 11.9%[36] - The Chinese intelligent vehicle industry is building a new ecosystem around AI technology, with AI technical strength becoming a core competitive factor for automakers[37] - The global industrial IoT market size is expected to reach 303.86 billion USD by 2027, with a compound annual growth rate of 20.74%[38] Core Competitiveness Analysis The company's core competitiveness lies in its efficient cooperation model, extensive client resources, technological leadership in key domains, and experienced team with robust project management - Efficient and Trustworthy Cooperation Model: Close collaboration with chip manufacturers, providing technical services and customized tasks, while protecting clients' core technologies and intellectual property[39] - Client Resources and Brand Advantage: Continuously serving globally renowned manufacturers, accumulating leading trend concepts and product goals, and establishing a strong brand reputation[40] - Technological Advantage: Possesses deep technological accumulation and innovative products in Android systems, intelligent connected vehicle AI agents (ArraymoAIOS), OpenHarmony commercial distribution (HongZOS V5.0), and artificial intelligence[41][42][43][44][47] - Team and R&D Talent Advantage: Employs approximately 9,367 staff, over 90% of whom are technical personnel, possessing a composite technical talent advantage[49] - Project Management Advantage: Certified with ISO9001, ISO27001, and CMMI Level 5, demonstrating multi-language communication and R&D delivery capabilities globally[51] Main Business Analysis During this reporting period, the company's operating revenue increased by 17.86%, but operating costs rose by 22.41%, leading to a decline in gross profit margin Major Financial Data Year-on-Year Changes | Item | Current Period (Yuan) | Prior Year (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,018,655,861.34 | 864,265,999.57 | 17.86% | | | Operating Cost | 889,065,073.61 | 726,312,272.05 | 22.41% | | | Selling Expenses | 49,034,269.85 | 33,370,601.14 | 46.94% | Primarily due to increased investment in domestic PC business | | Financial Expenses | 6,529,461.26 | 1,871,332.75 | 248.92% | Primarily due to decreased interest income and increased exchange losses | | R&D Investment | 78,072,028.20 | 67,533,237.79 | 15.61% | | | Net Cash Flow from Operating Activities | -248,177,082.58 | -106,021,656.60 | -134.08% | Primarily due to increased raw material procurement for domestic PC business | - In the profit composition, investment income for this reporting period was 3.33 million Yuan, with no share-based payment expenses, resulting in a net profit of -60.05 million Yuan after deducting investment income[55] By Product or Service | Product or Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Profit Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Software Customization Services | 816,836,066.27 | 725,074,072.74 | 11.23% | 12.49% | 16.61% | -3.14% | | Software Technical Services | 163,015,558.35 | 138,020,814.96 | 15.33% | 40.87% | 44.95% | -2.38% | By Client Industry | Industry | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Profit Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Software and Information Technology Services | 1,016,109,990.18 | 888,655,233.98 | 12.54% | 18.44% | 22.48% | -2.89% | | Of which: Intelligent Terminal Solutions | 484,449,414.64 | 424,886,267.04 | 12.30% | 22.04% | 25.47% | -2.39% | | Of which: Intelligent Connected Vehicle Software | 228,190,596.88 | 191,420,286.94 | 16.11% | -0.16% | 4.02% | -3.37% | | Of which: Industrial Digitalization Solutions | 270,001,757.26 | 242,953,294.67 | 10.02% | 18.89% | 21.77% | -2.13% | - Employee compensation accounted for 85.69% of main business costs, while technical service fees increased by 36.02% and material costs increased by 70.11%, primarily due to increased procurement for the domestic computing business[58][59] Non-Main Business Analysis Non-main businesses negatively impacted total profit this reporting period, with investment income of 3.33 million Yuan and fair value change losses of -1.78 million Yuan Impact of Non-Main Businesses on Total Profit | Item | Amount (Yuan) | Percentage of Total Profit | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 3,332,816.96 | -4.18% | Investment gains/losses from associates accounted for by equity method | Yes | | Gains and Losses from Changes in Fair Value | -1,782,775.24 | 2.24% | Gains and losses from fair value changes of other non-current financial assets | Yes | | Asset Impairment | -1,401,202.13 | 1.76% | Impact of impairment losses on contract performance costs | Yes | | Other Income | 3,997,769.92 | -5.02% | Government grants received | No | Analysis of Assets and Liabilities At the end of this reporting period, the company's total assets increased by 8.85%, with significant increases in inventory, intangible assets, short-term borrowings, and contract liabilities Major Changes in Asset Composition (Current Period End vs Prior Year End) | Item | Current Period End Amount (Yuan) | Percentage of Total Assets | Prior Year End Amount (Yuan) | Percentage of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 670,223,364.88 | 24.08% | 723,211,623.27 | 28.28% | -4.20% | | Inventories | 339,349,997.01 | 12.19% | 229,528,629.93 | 8.97% | 3.22% | | Intangible Assets | 153,971,172.10 | 5.53% | 87,868,119.09 | 3.44% | 2.09% | | Development Expenditures | 0.00 | 0.00% | 72,986,112.48 | 2.85% | -2.85% | | Short-term Borrowings | 855,688,821.68 | 30.74% | 588,520,977.48 | 23.01% | 7.73% | | Contract Liabilities | 80,351,830.98 | 2.89% | 49,638,821.93 | 1.94% | 0.95% | - The increase in inventories is mainly due to undelivered projects and increased inventories for the domestic PC business during the reporting period; the increase in intangible assets is mainly due to internal R&D forming intangible assets, with a corresponding decrease in development expenditures[54] - The increase in short-term borrowings is mainly due to increased working capital borrowings; the increase in contract liabilities is mainly due to increased contract prepayments received during the reporting period[54] Subtotal of Financial Assets Measured at Fair Value | Item | Period-end Amount (Yuan) | | :--- | :--- | | Other Equity Instrument Investments | 38,500,000.00 | | Other Non-current Financial Assets | 24,390,980.43 | | Accounts Receivable Financing | 39,324,433.33 | | Subtotal of Financial Assets | 102,215,413.76 | Asset Rights Restricted as of the End of the Reporting Period | Item | Book Balance (Yuan) | Type of Restriction | Restriction Status | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 3,523,464.80 | Margin Deposit | Guarantee | | Cash and Bank Balances | 326.86 | Account Freeze | Account Freeze | | Total | 3,523,791.66 | | | Investment Status Analysis Total investment for this reporting period was 393.61 million Yuan, a year-on-year increase of 34.09% Investment Amount for the Reporting Period | Indicator | Amount (Yuan) | | :--- | :--- | | Investment Amount for the Reporting Period | 393,614,732.54 | | Investment Amount for the Prior Year | 293,550,000.00 | | Change Percentage | 34.09% | Financial Assets Measured at Fair Value | Asset Category | Period-end Amount (Yuan) | Source of Funds | | :--- | :--- | :--- | | Other | 62,890,980.43 | Own Funds | Overall Use of Raised Funds | Net Raised Funds (1) | Total Raised Funds Used (2) | Percentage of Raised Funds Used at Period-end (3)=(2)/(1) | Total Unused Raised Funds | | :--- | :--- | :--- | :--- | | 196.20 million Yuan | 186.35 million Yuan | 94.98% | 13.20 million Yuan | - The "OpenHarmony-based HongZOS Operating System Industry Distribution Project" reached its intended usable state in January 2025, and the remaining raised funds of 13.20 million Yuan have been permanently used to supplement working capital[74][129] Analysis of Major Controlled and Invested Companies The company's major subsidiaries, Jiangsu ArcherMind Information Technology and Zhida Chengyuan Technology, both achieved profitability during the reporting period Major Subsidiaries and Associates | Company Name | Company Type | Operating Revenue (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | | Jiangsu ArcherMind Information Technology Co., Ltd. | Subsidiary | 938,159.71 | 11,422,893.98 | | Zhida Chengyuan Technology Co., Ltd. | Subsidiary | 203,609,200.64 | 4,298,206.73 | | BMW ArcherMind Information Technology Co., Ltd. | Associate | 182,925,333.00 | 11,808,191.94 | - During the reporting period, the company established 21 new subsidiaries, including Hangzhou ArcherMind Power Information Technology Co., Ltd. and Shaanxi ArcherMind Information Technology Co., Ltd., and deregistered 4 subsidiaries, such as Anhui Chengmai Chuangtong Technology Co., Ltd., with minor impact on overall operations and performance[82][141][142] Risks Faced by the Company and Countermeasures The company faces risks from market fluctuations, client concentration, high new business investment, accounts receivable, tax policy changes, and core talent retention - Risks of Industry Market Development Fluctuations: The traditional mobile intelligent terminal industry is slowing down, while emerging fields (intelligent connected vehicles, IoT, industrial digitalization) have varying industry maturity and competitive landscapes[83] - Risk of Client Concentration: The top five clients accounted for 41.12% of operating revenue during the reporting period[85] - Risks of Accounts Receivable Collection and High Initial Investment in New Businesses: Accounts receivable book balance at the end of the reporting period was 935 million Yuan, accounting for 33.58% of total assets; high initial investment in new businesses may lead to profitability pressure[86] - Risks of Changes in Tax Preferential Policies: The company and its subsidiaries enjoy a 15% corporate income tax preferential rate as high-tech enterprises, small and micro enterprises enjoy a 20% preferential rate, and VAT policies include exemptions or immediate refunds, so policy changes may affect profitability[88][89][90][92][93] - Risks of Insufficient or Loss of Core Technical Personnel: The software industry experiences rapid technological updates and high personnel turnover, which the company addresses through a robust human resource system and equity incentives[94] Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan The company approved its Market Value Management System on April 29, 2025, aiming to enhance development quality and intrinsic value through strategic development and improved governance - The company has formulated a market value management system aimed at continuously enhancing the company's development quality and intrinsic value through scientific development strategies, improved corporate governance, enhanced operational management, and cultivation of core competitiveness[96] - This system clarifies the purpose, principles, organization and responsibilities, management methods, monitoring and early warning mechanisms, and evaluation of implementation for market value management[96] Corporate Governance, Environment, and Society This section details the company's governance structure, environmental initiatives, and social responsibility efforts Profit Distribution and Capital Reserve Conversion to Share Capital for the Reporting Period The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[100] Social Responsibility The company actively fulfills its social responsibilities, prioritizing employee development, safety, and well-being, while contributing to local economic growth through legal operations and job creation - The company values employee career development planning, provides equal development opportunities, focuses on safety production, labor protection, and physical and mental health, and has established a comprehensive performance appraisal system[102] - The company operates legally, actively pays taxes, creates employment opportunities, and supports local economic development[102] Significant Matters This section highlights significant events and material transactions impacting the company during the reporting period Litigation Matters The company had no significant litigation or arbitration matters during this reporting period, with other lawsuits totaling 24.67 million Yuan not meeting the disclosure threshold for major litigation - The company had no significant litigation or arbitration matters during this reporting period[109] Summary of Other Litigation Amounts Involved | Basic Information of Litigation (Arbitration) | Amount Involved (ten thousand Yuan) | | :--- | :--- | | Summary of other litigation amounts not meeting the disclosure standard for major litigation | 2,467 | Major Related Party Transactions During the reporting period, the company engaged in routine related party transactions, including sales of services to BMW ArcherMind Information Technology Co., Ltd. for 12.76 million Yuan Related Party Transactions for Purchase and Sale of Goods, Provision and Acceptance of Services | Related Party | Related Transaction Content | Current Period Transaction Amount (ten thousand Yuan) | Approved Transaction Limit (ten thousand Yuan) | | :--- | :--- | :--- | :--- | | BMW ArcherMind Information Technology Co., Ltd. | Provision of Services | 1,276.31 | 2,500 | | UnionTech Software Technology Co., Ltd. | Purchase of Goods | 101.59 | 6,000 | | Taiyuan Avatar Robot Technology Co., Ltd. | Sale of Products, Services | 327.89 | 2,000 | Major Contracts and Their Performance During the reporting period, the company and its controlled subsidiaries incurred 9.74 million Yuan in rental expenses for properties leased from other companies or individuals - During the reporting period, the company and its controlled subsidiaries incurred 9.74 million Yuan in rental expenses for properties leased from other companies (individuals)[122] Company's Guarantees for Subsidiaries | Name of Guaranteed Party | Guarantee Limit (ten thousand Yuan) | Actual Guarantee Amount (ten thousand Yuan) | Guarantee Period | Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Zhida Chengyuan Technology Co., Ltd. | 3,000 | 3,000 | 2024/4/29 to 2025/6/26 | Yes | | Zhida Chengyuan Technology Co., Ltd. | 1,000 | 1,000 | 2024/11/14 to 2025/5/11 | Yes | | Zhida Chengyuan Technology Co., Ltd. | 1,000 | 1,000 | 2024/10/28 to 2025/5/30 | Yes | | Zhida Chengyuan Technology Co., Ltd. | 5,000 | 5,003.92 | 2024/2/29 to 2026/2/27 | No | | Zhida Chengyuan Technology Co., Ltd. | 3,000 | 2,502.02 | 2024/6/28 to 2025/12/10 | No | | Zhida Chengyuan Technology Co., Ltd. | 5,000 | 4,002.78 | 2025/4/28 to 2026/5/20 | No | | Zhida Chengyuan Technology Co., Ltd. | 3,000 | 1,000.37 | 2025/6/25 to 2026/6/24 | No | - As of the end of the reporting period, the total approved guarantee limit for subsidiaries was 160 million Yuan, with an actual guarantee balance of 125.09 million Yuan, accounting for 8.38% of the company's net assets[126] Explanation of Other Significant Matters The company has concluded the "OpenHarmony-based HongZOS Operating System Industry Distribution Project" and permanently allocated the remaining 13.20 million Yuan to working capital - The company has concluded the "OpenHarmony-based HongZOS Operating System Industry Distribution Project" and permanently allocated the remaining 13.20 million Yuan of raised funds to working capital for daily operations[129] - The company's controlling shareholder, Nanjing Debo Investment Management Co., Ltd., changed its name to Nanjing ArcherMind Technology Development Group Co., Ltd., and its registered capital increased from 5 million Yuan to 100 million Yuan, but there were no changes in equity structure or actual control[130] Changes in Shares and Shareholder Information This section outlines changes in share capital and provides details on the company's shareholder structure Changes in Shares At the end of this reporting period, the company's total shares were 216,981,741, with 60,766 restricted shares and 216,920,975 unrestricted shares Changes in Shares | Share Type | Number Before Change (shares) | Percentage Before Change | Number After Change (shares) | Percentage After Change | | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 60,766 | 0.03% | 60,766 | 0.03% | | II. Unrestricted Shares | 216,920,975 | 99.97% | 216,920,975 | 99.97% | | III. Total Shares | 216,981,741 | 100.00% | 216,981,741 | 100.00% | Changes in Restricted Shares The company's restricted shares primarily consist of executive lock-up shares, with no changes in the number of restricted shares during this reporting period Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released This Period (shares) | Restricted Shares Increased This Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Wang Kun | 37,366 | 0 | 0 | 37,366 | Executive Lock-up Shares | | Huang Haiyan | 11,700 | 0 | 0 | 11,700 | Executive Lock-up Shares | | Wang Jinfeng | 11,700 | 0 | 0 | 11,700 | Executive Lock-up Shares | | Total | 60,766 | 0 | 0 | 60,766 | | Company Shareholder Numbers and Shareholding Status As of the end of the reporting period, the company had 46,642 common shareholders, with Nanjing ArcherMind Technology Development Group Co., Ltd. holding 26.56% of shares - Total number of common shareholders at the end of the reporting period: 46,642[137] Shareholding Status of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held at Period-end (shares) | Number of Unrestricted Shares Held (shares) | Share Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Nanjing ArcherMind Technology Development Group Co., Ltd. | Domestic Non-state Legal Person | 26.56% | 57,639,069 | 57,639,069 | Pledged | 26,185,000 | | Nanjing Taize Investment Management Center (Limited Partnership) | Domestic Non-state Legal Person | 4.23% | 9,184,570 | 9,184,570 | Not Applicable | 0 | | Nanjing Guanchen Investment Management Center (Limited Partnership) | Domestic Non-state Legal Person | 1.80% | 3,901,436 | 3,901,436 | Not Applicable | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.87% | 1,892,966 | 1,892,966 | Not Applicable | 0 | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | Other | 0.74% | 1,605,376 | 1,605,376 | Not Applicable | 0 | | Huang Shilin | Domestic Natural Person | 0.69% | 1,502,300 | 1,502,300 | Not Applicable | 0 | | Xue Haigao | Domestic Natural Person | 0.46% | 987,500 | 987,500 | Not Applicable | 0 | | China Merchants Bank Co., Ltd. - Huaxia CSI 1000 ETF | Other | 0.44% | 946,981 | 946,981 | Not Applicable | 0 | | Wang Xinyan | Domestic Natural Person | 0.35% | 760,400 | 760,400 | Not Applicable | 0 | | Industrial and Commercial Bank of China Co., Ltd. - GF CSI 1000 ETF | Other | 0.35% | 759,672 | 759,672 | Not Applicable | 0 | - The company is unaware if there are any associated relationships or concerted actions among the above shareholders[139] Bond-Related Information This section addresses any bond-related information relevant to the company during the reporting period Bond-Related Information The company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[145] Financial Report This section presents the company's comprehensive financial statements, including balance sheets, income statements, and cash flow statements Audit Report The company's semi-annual financial report is unaudited - The company's semi-annual financial report is unaudited[147] Financial Statements This section includes the company's 2025 semi-annual consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity Consolidated Balance Sheet The consolidated balance sheet presents the combined financial position of the company and its subsidiaries, including period-end and period-beginning balances of assets, liabilities, and owners' equity Parent Company Balance Sheet The parent company balance sheet presents the standalone financial position of ArcherMind Technology (Nanjing) Co., Ltd., including period-end and period-beginning balances of assets, liabilities, and owners' equity Consolidated Income Statement The consolidated income statement presents the combined operating results of the company and its subsidiaries, including total operating revenue, total operating costs, total profit, net profit, and earnings per share Parent Company Income Statement The parent company income statement presents the standalone operating results of ArcherMind Technology (Nanjing) Co., Ltd., including operating revenue, operating costs, total profit, and net profit Consolidated Cash Flow Statement The consolidated cash flow statement presents the combined cash inflows and outflows of the company and its subsidiaries, categorized into operating, investing, and financing activities Parent Company Cash Flow Statement The parent company cash flow statement presents the standalone cash inflows and outflows of ArcherMind Technology (Nanjing) Co., Ltd., categorized into operating, investing, and financing activities Consolidated Statement of Changes in Owners' Equity The consolidated statement of changes in owners' equity presents the combined changes in owners' equity of the company and its subsidiaries during this reporting period, including share capital, capital reserves, other comprehensive income, and retained earnings Parent Company Statement of Changes in Owners' Equity The parent company statement of changes in owners' equity presents the standalone changes in owners' equity of ArcherMind Technology (Nanjing) Co., Ltd. during this reporting period Company Basic Information This section outlines ArcherMind Technology's history, including its establishment, stock listing, capital changes, registered location, industry, and business scope - The company was listed on the Shenzhen Stock Exchange on January 20, 2017, with stock code 300598[182] - As of the shareholders' meeting resolution on May 16, 2024, the company's paid-in capital increased to 216,981,741.00 Yuan[184] - The company's main business is software technical services and solution R&D and sales, with a business scope covering business process and software outsourcing services, technology development, and computer system integration[185] Basis of Financial Statement Preparation The company's financial statements are prepared on a going concern basis, adhering to accounting standards and regulations issued by the Ministry of Finance - The company prepares its financial statements on a going concern basis, recognizing and measuring transactions and events in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance and related regulations[187] - The company has sufficient operating funds and is expected to continue operating for at least 12 months from the approval date of these financial statements[188] Significant Accounting Policies and Estimates This section details the company's significant accounting policies and estimates for financial statement preparation, ensuring accuracy and comparability - The financial statements prepared by the company comply with the requirements of Accounting Standards for Business Enterprises, truly and completely reflecting the company's financial position, operating results, and cash flows[191] - The company classifies financial assets into those measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss, based on the business model for managing financial assets and their contractual cash flow characteristics[213] - For accounts receivable arising from the sale of products or provision of services, the company measures loss provisions at an amount equal to the expected credit losses over the entire lifetime[234] - The company recognizes revenue when it satisfies a performance obligation in the contract, i.e., when the customer obtains control of the related goods or services, at the transaction price allocated to that performance obligation[299] - Expenditures in the development phase are capitalized if they simultaneously meet conditions such as technical feasibility, intention to use or sell, ability to generate economic benefits, sufficient resource support, and reliable measurement of expenditures[276] Taxes This section details the company's and its subsidiaries' main tax categories and rates, including VAT, urban maintenance and construction tax, and corporate income tax Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | VAT taxable sales | 13%, 9%, 6%, 3% (small-scale taxpayer), 1% (small-scale taxpayer preferential rate) | | Urban Maintenance and Construction Tax | Turnover tax amount | 7% | | Corporate Income Tax | Taxable income | 25%, 20% (small and micro), 16.5%, 15%, 9% | - The parent company and subsidiaries such as Nanjing ArcherMind IoT Technology Co., Ltd., Xi'an ArcherMind Software Technology Co., Ltd., Wuhan ArcherMind Software Technology Co., Ltd., and Zhida Chengyuan Technology Co., Ltd. enjoy a 15% corporate income tax rate as high-tech enterprises[328][329][330] - Subsidiaries such as Beijing ArcherMind Chuangtong Technology Co., Ltd. are small and micro enterprises, with taxable income reduced by 25% and corporate income tax paid at a 20% rate, a policy extended until December 31, 2027[330][331] - Income from technology transfer, technology development, and related technical consulting and services is exempt from VAT after obtaining technology contract certification and filing with tax authorities[327] Notes to Consolidated Financial Statements This section provides detailed notes for each item in the consolidated financial statements, including cash and bank balances, accounts receivable, inventories, intangible assets, short-term borrowings, operating revenue and costs, R&D expenses, and supplementary cash flow information Cash and Bank Balances Composition | Item | Period-end Balance (Yuan) | Period-beginning Balance (Yuan) | | :--- | :--- | :--- | | Cash on Hand | 50,287.11 | 52,130.16 | | Bank Deposits | 665,933,298.36 | 721,663,649.49 | | Other Cash and Bank Balances | 4,239,779.41 | 1,495,843.62 | | Total | 670,223,364.88 | 723,211,623.27 | | Of which: Total Funds Deposited Overseas | 22,595,752.17 | 19,708,768.60 | Accounts Receivable by Age | Age | Period-end Book Balance (Yuan) | | :--- | :--- | | Within 1 year (inclusive) | 773,486,237.30 | | 1 to 2 years | 59,987,947.85 | | 2 to 3 years | 21,251,202.47 | | Over 3 years | 80,154,301.24 | | Total | 934,879,688.86 | Inventory Classification (Period-end Balance) | Item | Book Balance (Yuan) | Inventory Impairment Provision or Contract Performance Cost Impairment Provision (Yuan) | Book Value (Yuan) | | :--- | :--- | :--- | :--- | | Raw Materials | 115,812,317.96 | 0 | 115,812,317.96 | | Work in Progress | 528,597.30 | 0 | 528,597.30 | | Finished Goods | 27,078,277.81 | 0 | 27,078,277.81 | | Contract Performance Costs | 180,965,620.95 | 6,434,875.82 | 174,530,745.13 | | Goods in Transit | 8,107,446.18 | 0 | 8,107,446.18 | | Consigned Processing Materials | 12,325,518.30 | 0 | 12,325,518.30 | | Low-Value Consumables | 967,094.33 | 0 | 967,094.33 | | Total | 345,784,872.83 | 6,434,875.82 | 339,349,997.01 | Intangible Assets Book Value (Period-end) | Item | Book Value (Yuan) | | :--- | :--- | | Land Use Rights | 33,971,359.82 | | Software | 119,986,320.21 | | Franchise Rights | 13,492.07 | | Total | 153,971,172.10 | Short-term Borrowings Classification | Item | Period-end Balance (Yuan) | Period-beginning Balance (Yuan) | | :--- | :--- | :--- | | Guaranteed Borrowings | 125,090,930.55 | 127,101,780.54 | | Credit Borrowings | 730,597,891.13 | 461,419,196.94 | | Total | 855,688,821.68 | 588,520,977.48 | Operating Revenue and Operating Costs (Current Period) | Item | Revenue (Yuan) | Cost (Yuan) | | :--- | :--- | :--- | | Main Business | 1,016,109,990.18 | 888,655,233.98 | | Other Businesses | 2,545,871.16 | 409,839.63 | | Total | 1,018,655,861.34 | 889,065,073.61 | R&D Expense Composition (Current Period) | Item | Amount (Yuan) | | :--- | :--- | | Employee Compensation | 72,113,074.51 | | Material Consumption | 453,185.74 | | Depreciation and Amortization | 951,912.90 | | Technical Service Fees | 981,994.13 | | Rent, Property Management, and Utilities | 868,509.52 | | Other Expenses | 2,703,351.40 | | Total | 78,072,028.20 | Reconciliation of Net Cash Flow from Operating Activities | Supplementary Information | Current Period Amount (Yuan) | | :--- | :--- | | Net Profit | -61,889,811.44 | | Add: Asset Impairment Provisions | 5,691,925.72 | | Depreciation of Fixed Assets, Depletion of Oil and Gas Assets, Depreciation of Productive Biological Assets | 5,512,077.01 | | Depreciation of Right-of-Use Assets | 4,270,057.75 | | Amortization of Intangible Assets | 9,953,179.72 | | Amortization of Long-term Deferred Expenses | 1,891,143.49 | | Losses (Gains are indicated by "－") on Disposal of Fixed Assets, Intangible Assets, and Other Long-term Assets | 34,558.96 | | Losses (Gains are indicated by "－") on Scrapping of Fixed Assets | 16,005.62 | | Losses (Gains are indicated by "－") from Changes in Fair Value | 1,782,775.24 | | Financial Expenses (Gains are indicated by "－") | 10,016,837.08 | | Investment Losses (Gains are indicated by "－") | -3,332,816.96 | | Decrease (Increase is indicated by "－") in Deferred Income Tax Assets | -17,909,338.15 | | Decrease (Increase is indicated by "－") in Inventories | -109,821,367.08 | | Decrease (Increase is indicated by "－") in Operating Receivables | -348,557,868.82 | | Increase (Decrease is indicated by "－") in Operating Payables | 254,165,559.28 | | Net Cash Flow from Operating Activities | -248,177,082.58 | R&D Expenses During this reporting period, the company's total R&D expenditure was 80.53 million Yuan, with 78.07 million Yuan expensed and 2.45 million Yuan capitalized R&D Expenditure Status | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Employee Compensation | 74,312,099.46 | 76,895,799.55 | | Material Consumption | 476,329.98 | 1,143,737.27 | | Depreciation and Amortization | 1,096,981.50 | 2,597,473.72 | | Technical Service Fees | 981,994.13 | 6,490,471.99 | | Rent, Property Management, and Utilities | 868,509.52 | 240,962.34 | | Office, Transportation, and Travel Expenses | 87,551.35 | 2,764,979.16 | | Other | 2,703,351.40 | 1,304,233.73 | | Total | 80,526,817.34 | 91,437,657.76 | | Of which: Expensed R&D Expenditures | 78,072,028.20 | 67,533,237.79 | | Capitalized R&D Expenditures | 2,454,789.14 | 23,904,419.97 | - The significant capitalized R&D project "OpenHarmony-based HongZOS Operating System Industry Distribution Project" increased by 2.45 million Yuan this period and has been recognized as intangible assets totaling 75.44 million Yuan[558] Changes in Consolidation Scope During this reporting period, the company's consolidation scope changed, primarily through the establishment of 21 new subsidiaries and the deregistration of 4 subsidiaries, with minor impact on overall operations and performance - During this reporting period, the company established 21 new subsidiaries, including Hangzhou ArcherMind Power Information Technology Co., Ltd., Shaanxi ArcherMind Information Technology Co., Ltd., and Jiangxi ArcherMind Electronics Co., Ltd[569][570][571][572][573] - The company deregistered 4 subsidiaries: Anhui Chengmai Chuangtong Technology Co., Ltd., Guangxi ArcherMind Chuangtong Technology Co., Ltd., Shanxi ArcherMind Intelligent Technology Co., Ltd., and Guangzhou ArcherMind Information Technology Co., Ltd[573][575] Equity in Other Entities This section details the company's equity in subsidiaries, joint ventures, and associates, including important non-wholly-owned subsidiaries and key associates - The company owns wholly-owned or controlled subsidiaries such as Shanghai Chengmai Software Development Co., Ltd., Beijing ArcherMind Chuangtong Technology Co., Ltd., and Nanjing ArcherMind IoT Technology Co., Ltd[577] Financial Information of Important Non-Wholly-Owned Subsidiaries (Current Period) | Subsidiary Name | Minority Shareholding Percentage | Net Profit Attributable to Minority Shareholders (Yuan) | | :--- | :--- | :--- | | Zhida Chengyuan Technology Co., Ltd. | 20.00% | 806,800.39 | Key Financial Information of Important Associates (Current Period) | Associate Name | Operating Revenue (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | | UnionTech Software Technology Co., Ltd. | 190,282,029.60 | -3,443,247.34 | | BMW ArcherMind Information Technology Co., Ltd. | 182,925,333.00 | 11,808,191.94 | - The company holds a 50.00% equity stake in BMW ArcherMind Information Technology Co., Ltd., but its voting rights account for 49% of the total voting rights at the shareholders' meeting, thus it is accounted for as an associate using the equity method[587] Government Grants During this reporting period, the company received 0.40 million Yuan in government grants, with a period-end deferred income balance of 11.64 million Yuan for government grants Liability Items Involving Government Grants | Accounting Account | Period-beginning Balance (Yuan) | New Grants This Period (Yuan) | Period-end Balance (Yuan) | Related to Assets/Income | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 11,241,200.00 | 400,000.00 | 11,641,200.00 | Related to Income | Government Grants Included in Current Profit and Loss | Accounting Account | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Income-related Government Grants | 3,434,213.16 | 13,542,715.00 | Risks Related to Financial Instruments The company faces market risks (foreign exchange, interest rate, other price risks), credit risk, and liquidity risk, though management deems foreign exchange risk not significant - Foreign exchange risk is primarily related to foreign currency assets and liabilities in USD, JPY, TWD, HKD, and KRW, but management considers foreign exchange risk not significant[601][602][603][606] - Credit risk primarily arises from the failure of a counterparty to fulfill its obligations, leading to losses on financial assets, which the company manages by controlling credit limits, credit approvals, and making bad debt provisions[607] - Liquidity risk is low, as the company maintains sufficient cash and cash equivalents and monitors them to meet operational needs[609] Analysis of Financial Liabilities by Undiscounted Remaining Contractual Obligations (Within 1 Year) | Item | Within 1 Year (Yuan) | | :--- | :--- | | Notes Payable | 6,275,000.00 | | Short-term Borrowings | 855,688,821.68 | | Accounts Payable | 129,122,221.99 | | Employee Benefits Payable | 134,606,229.35 | | Lease Liabilities and Non-current Liabilities Due Within One Year | 7,414,091.61 | | Total | 1,133,106,364.63 | - The company derecognized 8.09 million Yuan of accounts receivable financing (bank acceptance bills) through endorsement and discounting, primarily because their credit and deferred payment risks are minimal, and interest rate risk has been transferred to the bank[614][616] Disclosure of Fair Value This section discloses the period-end fair value of the company's assets and liabilities measured at fair value, primarily including other equity instrument investments, accounts receivable financing, and other non-current financial assets Period-end Fair Value of Assets and Liabilities Measured at Fair Value | Item | Level 3 Fair Value Measurement (Yuan) | Level 2 Fair Value Measurement (Yuan) | Total (Yuan) | | :--- | :--- | :--- | :--- | | Other Equity Instrument Investments | 38,500,000.00 | | 38,500,000.00 | | Accounts Receivable Financing | | 39,324,433.33 | 39,324,433.33 | | Other Non-current Financial Assets | 24,390,980.43 | | 24,390,980.43 | | Total Liabilities Measured at Fair Value on a Recurring Basis | 62,890,980.43 | 39,324,433.33 | 102,215,413.76 | - Accounts receivable financing consists entirely of bank acceptance bills with short remaining maturities, for which book value is used as fair value[620] - For financial instruments not traded in an active market, valuation techniques such as the market approach or recent transaction prices are used to determine their fair value[621] Related Parties and Related Party Transactions This section discloses the company's related parties and detailed related party transactions during the reporting period, with Wang Jiping and Liu Heyi as the ultimate controlling parties - The ultimate controlling parties of the enterprise are Wang Jiping and Liu Heyi[625] Related Party Transactions for Purchase and Sale of Goods, Provision and Acceptance of Services (Current Period) | Related Party | Related Transaction Content | Current Period Amount (Yuan) | | :--- | :--- | :--- | | Shanxi Yanmenshan Winery Co., Ltd. | Purchase of Goods | 458,376.00 | | Nanjing Avatar Robot Technology Co., Ltd. | Purchase of Goods | 492,566.37 | | UnionTech Software Technology Co., Ltd. | Purchase of Goods | 1,015,929.21 | | BMW ArcherMind Information Technology Co., Ltd. | Provision of Services | 12,763,134.21 | | Taiyuan Avatar Robot Technology Co., Ltd. | Sale of Goods | 3,278,925.31 | Related Party Guarantees (Company as Guarantor) | Guaranteed Party | Guarantee Amount (Yuan) | Guarantee Start Date | Guarantee End Date | Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Zhida Chengyuan Technology Co., Ltd. | 30,000,000.00 | April 29, 2024 | June 26, 2025 | Yes | | Zhida Chengyuan Technology Co., Ltd. | 50,000,000.00 | February 29, 2024 | February 27, 2026 | No | Key Management Personnel Compensation | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Key Management Personnel Compensation | 2,382,704.55 | 2,521,000.00 | Related Party Receivables and Payables (Period-end Balance) | Item Name | Related Party | Book Balance (Yuan) | | :--- | :--- | :--- | | Accounts Receivable | Nanjing Avatar Robot Technology Co., Ltd. | 3,177,132.00 | | Accounts Receivable | BMW ArcherMind Information Technology Co., Ltd. | 6,662,894.02 | | Accounts Payable | UnionTech Software Technology Co., Ltd. | 8,318,372.50 | | Other Payables | Nanjing Avatar Robot Technology Co., Ltd. | 556,600.00 | Commitments and Contingencies As of June 30, 2025, the company had no significant commitments or important contingencies requiring disclosure - As of June 30, 2025, the company had no significant commitments requiring disclosure[644] - As of June 30, 2025, the company had no significant contingencies requiring disclosure[645] Post-Balance Sheet Events The company had no significant non-adjusting events, profit distribution, sales returns, or other post-balance sheet events during the reporting period - The company had no significant non-adjusting events during the reporting period[648] - The company had no profit distribution during the reporting period[649] Other Significant Matters The company had no prior period accounting error corrections, debt restructurings, asset exchanges, annuity plans, or discontinued operations during the reporting period - The company had no prior period accounting error corrections, debt restructurings, asset exchanges, annuity plans, or discontinued operations during the reporting period[650][653] Notes to Parent Company Financial Statements This section provides detailed notes for each item in the parent company's financial statements, including accounts receivable, other receivables, long-term equity investments, operating revenue and costs, and investment income Parent Company Accounts Receivable by Age | Age | Period-end Book Balance (Yuan) | | :--- | :--- | | Within 1 year (inclusive) | 805,751,756.17 | | 1 to 2 years | 56,936,719.63 | | 2 to 3 years | 21,214,782.47 | | Over 3 years | 67,252,875.41 | | Total | 951,156,133.68 | Parent Company Other Receivables by Nature of Payment | Nature of Payment | Period-end Book Balance (Yuan) | | :--- | :--- | | Margin Deposits, Security Deposits | 16,297,886.30 | | Petty Cash | 516,654.21 | | Equity Transfer Payments | 1,866,247.51 | | Intercompany Payables/Receivables | 325,479,101.56 | | Agency Business Payables/Receivables | 1,167,420.36 | | Total | 345,327,309.94 | Parent Company Long-term Equity Investment Composition | Item | Period-end Book Value (Yuan) | | :--- | :--- | | Investments in Subsidiaries | 406,063,039.63 | | Investments in Associates and Joint Ventures | 344,924,244.81 | | Total | 750,987,284.44 | Parent Company Operating Revenue and Operating Costs (Current Period) | Item | Revenue (Yuan) | Cost (Yuan) | | :--- | :--- | :--- | | Main Business | 916,247,916.65 | 865,585,970.33 | | Other Businesses | 2,856,678.87 | 551,112.66 | | Total | 919,104,595.52 | 866,137,082.99 | Parent Company Investment Income | Item | Current Period Amount (Yuan) | | :--- | :--- | | Investment Income from Long-term Equity Investments Accounted for by Equity Method | 3,332,816.96 | | Recovered Investment | -200,000.00 | | Total | 3,132,816.96 | Supplementary Information This section provides supplementary information, including a detailed statement of non-recurring gains and losses, net asset return, and earnings per share Current Period Non-recurring Gains and Losses Details | Item | Amount (Yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | 18,553.34 | | Government grants included in current profit and loss | 2,418,213.16 | | Gains and losses from changes in fair value | -1,782,775.24 | | Other non-operating income and expenses | -40,889.96 | | Other gains and losses that meet the definition of non-recurring gains and losses | 8,120,429.64 | | Less: Income tax impact | 96,363.05 | | Minority interest impact (after tax) | 394,618.68 | | Total | 8,242,549.21 | Net Asset Return and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets | Basic Earnings Per Share (Yuan/share) | Diluted Earnings Per Share (Yuan/share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders of the Company | -3.74% | -0.2614 | -0.2620 | | Net Profit Attributable to Ordinary Shareholders of the Company After Deducting Non-recurring Gains and Losses | -4.28% | -0.2994 | -0.3001 |