中创股份(688695) - 2025 Q2 - 季度财报

Definitions This chapter defines key terms used in the report, including company names, industry-specific terminology, and regulatory bodies, ensuring clarity and consistency in understanding the report content - Company, the Company, Inforbus Software refer to Shandong Inforbus Software Commercial Middleware Co., Ltd[10] - Middleware, middleware software refers to a type of foundational software for distributed systems, positioned between applications and operating systems/databases, primarily addressing data transmission, access, application scheduling, system construction, integration, and process management in distributed environments[10] - PaaS Platform refers to Platform as a Service, a cloud computing service model providing a platform for customers to develop, run, and manage applications without building and maintaining the underlying infrastructure[11] - Xinchuang refers to Information Technology Application Innovation[11] Company Profile and Key Financial Indicators This chapter outlines the company's basic information and details key accounting data and financial indicators for the reporting period, including operating revenue, profit, net assets, total assets, and non-recurring gains and losses, revealing performance changes amidst increased market expansion and R&D investment Company Basic Information This section introduces the company's basic information, including its Chinese name, abbreviation, legal representative, registered and office addresses, website, and email - Company Chinese Name: Shandong Inforbus Software Commercial Middleware Co., Ltd[13] - Company Chinese Abbreviation: Inforbus Software[13] - Legal Representative: Jing Xinhai[13] - Company Website: www.inforbus.com[13](index=13&type=chunk) Company Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue slightly decreased year-on-year, while total profit, net profit, and non-recurring net profit all incurred significant losses, primarily due to increased market expansion, R&D investment, and credit impairment losses; net assets and total assets declined due to cash dividends Key Accounting Data (January-June 2025 vs. Prior Year Period) | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | Period-on-period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 59,836,479.24 Yuan | 60,450,826.88 Yuan | -1.02 | | Total Profit | -10,158,362.15 Yuan | 1,357,794.85 Yuan | -848.15 | | Net Profit Attributable to Shareholders of Listed Company | -7,956,776.02 Yuan | 1,981,672.27 Yuan | -501.52 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | -13,315,886.43 Yuan | 1,017,537.37 Yuan | -1,408.64 | | Net Cash Flow from Operating Activities | -27,318,324.09 Yuan | -39,412,270.23 Yuan | Not Applicable | | End of Current Reporting Period vs. End of Prior Year: | | | | | Net Assets Attributable to Shareholders of Listed Company | 791,454,395.99 Yuan | 811,318,364.93 Yuan | -2.45 | | Total Assets | 832,549,846.39 Yuan | 859,989,449.60 Yuan | -3.19 | Key Financial Indicators (January-June 2025 vs. Prior Year Period) | Key Financial Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | Period-on-period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | -0.09 | 0.03 | -400.00 | | Diluted Earnings Per Share (Yuan/share) | -0.09 | 0.03 | -400.00 | | Basic Earnings Per Share Excluding Non-recurring Gains/Losses (Yuan/share) | -0.16 | 0.01 | -1,700.00 | | Weighted Average Return on Net Assets (%) | -0.99 | 0.33 | Decreased 1.32 percentage points | | Weighted Average Return on Net Assets Excluding Non-recurring Gains/Losses (%) | -1.65 | 0.17 | Decreased 1.82 percentage points | | R&D Investment as Percentage of Operating Revenue (%) | 53.83 | 43.17 | Increased 10.66 percentage points | - Total profit, net profit attributable to shareholders of the listed company, and net profit attributable to shareholders of the listed company excluding non-recurring gains/losses decreased compared to the prior year, primarily due to the company's sustained efforts in market expansion, increased expenditures such as sales personnel salaries, continuous investment in core technology R&D leading to higher depreciation expenses from new equipment, and increased credit impairment losses due to higher accounts receivable balances[19] - Net assets attributable to shareholders of the listed company and total assets decreased compared to the end of 2024, primarily due to the completion of the company's 2024 annual equity distribution, with cash dividends reducing net assets[20] Non-recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to 5,359,110.41 Yuan, primarily from government grants, disposal gains/losses of non-current assets, and fair value changes/investment income from financial assets Non-recurring Gains and Losses Items (Unit: Yuan) | Non-recurring Gains and Losses Item | Amount | Notes (if applicable) | | :--- | :--- | :--- | | Gains/losses from disposal of non-current assets, including the reversal of impairment provisions | 98,917.30 | | | Government grants recognized in current profit/loss, excluding those closely related to normal business operations, compliant with national policies, enjoyed under fixed standards, and having a continuous impact on the company's profit/loss | 4,722,182.38 | | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains/losses from disposal of financial assets and liabilities, excluding effective hedging activities related to normal business operations | 1,085,871.01 | Fair value changes and investment income from structured deposits and reverse repurchase agreements | | Other non-operating income and expenses apart from the above | 235.19 | | | Other profit/loss items meeting the definition of non-recurring gains/losses | 47,043.09 | Primarily individual income tax handling fee refunds | | Less: Income tax impact | 595,138.56 | | | Total | 5,359,110.41 | | Management Discussion and Analysis This chapter analyzes the company's industry development, main business, operating performance, core competencies, and risks during the reporting period, highlighting its R&D investment and product upgrades under Xinchuang opportunities, while facing macroeconomic, competitive, and R&D failure risks Industry and Main Business Overview for the Reporting Period The company's main business involves R&D, sales, and technical services of middleware software, falling under "I65 Software and Information Technology Services," offering both basic and generalized middleware products, customized development, and O&M services, with revenue primarily from product sales and related services - The company's main business is the R&D and sales of middleware software, and providing related technical services[27] - The company's industry is "I65 Software and Information Technology Services"[27] - The company has over 20 years of R&D experience and technological accumulation in the middleware industry, having obtained 165 invention patents and 240 software copyrights, forming a highly reliable, high-performance, high-availability, and high-security middleware product system that has broken the technological monopoly of mainstream foreign middleware vendors like IBM and Oracle[27] - The company has developed a synergistic pattern of basic middleware and generalized middleware, with fourteen major categories of middleware products including application server middleware, load balancing middleware, distributed data caching middleware, workflow middleware, message middleware, enterprise service bus, data access management middleware, middleware unified management platform, IoT supervision platform software, business information and electronic document exchange system, PaaS platform software, big data governance and intelligent analysis platform, Inforbus Yuanqiong AI model management platform, and Inforbus data stream processing platform[28][11] - The company's profitability primarily comes from selling its self-developed middleware products and providing middleware-related customized development and O&M services[33] Discussion and Analysis of Operations In the first half of 2025, the company's operating revenue decreased by 1.02% year-on-year, with a net loss of 7.9568 million Yuan, mainly due to increased market expansion and R&D investment; the company actively expanded the Xinchuang market, deepened industry-academia-research cooperation, and continuously upgraded core middleware products, strengthening the integration of domestic software and hardware ecosystems - In the first half of 2025, the company achieved total operating revenue of 59.8365 million Yuan, a year-on-year decrease of 1.02%; net profit attributable to shareholders of the listed company was -7.9568 million Yuan, a year-on-year decrease of 501.52%[34] - The loss was primarily due to the company's continuous increase in market expansion and R&D investment, leading to higher selling and R&D expenses, as well as increased credit impairment losses due to higher accounts receivable balances[34] - The company is actively expanding into promising new market segments such as information technology, telecommunications, healthcare, and education, while consolidating and deepening its market leadership and services in traditional advantageous areas like party, government, military, energy, finance, and transportation[34] - During the reporting period, the company's R&D investment was 32.2106 million Yuan, a year-on-year increase of 23.42%; it led the compilation of two middleware national standards officially released and to be implemented in November 2025; 7 new invention patent applications and 5 software copyright applications were filed; 9 invention patents and 5 software copyrights were authorized[35] - During the reporting period, the company signed an agreement with China Xiongan Group Digital City Technology Co., Ltd. to jointly establish the "Xiongan Digital City Innovation Research Institute"[35] - The company continuously upgraded its main basic middleware products, including application server middleware, load balancers, distributed caches, and message middleware, achieving comprehensive improvements in performance, user experience, and reliability[36] Analysis of Core Competencies for the Reporting Period The company has over two decades of experience in the middleware industry, mastering eight core technologies, participating in national standard setting and major scientific and technological projects, demonstrating outstanding R&D capabilities, and leading future market directions in big data, IoT, cloud computing, and AI with its products, possessing capabilities for domestic substitution - The company has been deeply involved in the middleware industry for over two decades, is among the first batch of members to join the Xinchuang Work Committee, and was recognized as an "Outstanding Contribution Member Unit of the Xinchuang Work Committee," helping to address the "bottleneck" issue in domestic middleware[37][38] - The company masters eight core technologies: high-performance application server series technology, communication and application collaboration series technology, business agile process platform technology, lightweight secure and efficient PaaS platform technology, complex IoT platform series technology, application secure and efficient protection technology, cloud-native integrated service management technology, and real-time stream processing technology[38][41][45] - The company is one of the main promoters and developers of middleware technical standards in China, having successively led or participated in the formulation of 19 national standards and 5 industry standards already released[38] - As a key support unit for national major scientific and technological projects, the company has repeatedly led or primarily participated in middleware-related special topics, with its products reaching international advanced levels and effectively supporting the substitution of foreign products in key national economic sectors[39] - Through continuous R&D innovation, the company enhances product technology content and enriches product functions, forming a synergistic development pattern of basic middleware and generalized middleware, and accelerating its deep strategic layout in big data, IoT, cloud computing, and artificial intelligence to build a new generation of infrastructure software[39][40] - During the reporting period, the company obtained 9 new invention patents and 5 software copyrights; as of the end of the reporting period, the company had accumulated 165 invention patents and 240 software copyrights[45] R&D Investment (Unit: Yuan) | Item | Current Period Amount | Prior Year Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 32,210,594.39 | 26,097,340.42 | 23.42 | | Total R&D Investment | 32,210,594.39 | 26,097,340.42 | 23.42 | | Total R&D Investment as Percentage of Operating Revenue (%) | 53.83 | 43.17 | Increased 10.66 percentage points | R&D Personnel (Unit: people) | Basic Information | Current Period Amount | Prior Year Period Amount | | :--- | :--- | :--- | | Number of Company R&D Personnel | 260 | 256 | | R&D Personnel as Percentage of Total Company Personnel (%) | 70.27 | 72.93 | | Education Level | | | | Master's | 49 | | | Bachelor's | 209 | | | Junior College and Below | 2 | | | Age Structure | | | | 20-29 | 176 | | | 30 (inclusive)-39 | 53 | | | 40 (inclusive) and Above | 31 | | Risk Factors The company faces risks from macroeconomic environment changes, intensifying industry competition, new technology R&D failures, seasonal fluctuations in operating performance, and accounts receivable bad debts - Macroeconomic environment risk: Changes in the national macroeconomic situation or adjustments in industrial policies may lead to fluctuations in the industry and downstream markets where the company operates, thereby impacting the company's future operations[60] - Intensifying industry competition risk: The Xinchuang market is gradually normalizing, and its continuous expansion attracts numerous manufacturers to actively engage in strategic布局; if the company fails to effectively translate its existing market position and core technological advantages into greater market share, it will adversely affect the company's business expansion and sustainable operations[61] - New technology and new product R&D failure risk: The software industry is characterized by rapid technological progress and product iteration, with new technologies and standards constantly evolving, iterating, and updating, posing feasibility, productization, and market demand risks[62][63] - Seasonal fluctuation risk in operating performance: The company's customers or their downstream customers are primarily government agencies, military units, public institutions, and state-owned enterprises, with project delivery and fund settlement mostly concentrated in the second half of the year, leading to the majority of the company's revenue recognition occurring in the third and fourth quarters[64] - Accounts receivable bad debt risk: As the company's operating scale expands, accounts receivable balances increase; if systemic risks arise in the macroeconomic environment or industry development, some of the company's customers may face operational issues, potentially preventing the company from timely or even fully recovering payments[65] Key Operating Performance for the Reporting Period Operating revenue for the current period remained largely flat year-on-year, while operating costs increased due to higher customized development business. Selling and R&D expenses rose due to increased market expansion and R&D investment. Administrative expenses decreased due to reduced intermediary fees, and financial expenses declined due to higher interest income. Net cash flow from operating activities increased, net cash flow from investing activities significantly increased, and net cash flow from financing activities significantly decreased Financial Statement Item Fluctuation Analysis (Unit: Yuan, Currency: RMB) | Item | Current Period Amount | Prior Year Period Amount | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 59,836,479.24 | 60,450,826.88 | -1.02 | Largely consistent with the prior year period | | Operating Cost | 12,339,974.81 | 8,306,100.96 | 48.57 | Primarily due to increased revenue from middleware customized development business, leading to higher corresponding cost recognition | | Selling Expenses | 19,131,662.17 | 17,957,802.74 | 6.54 | Primarily due to the company's increased market promotion efforts, strengthened sales team building, expanded sales personnel, and increased investment in marketing outlets | | Administrative Expenses | 10,290,781.41 | 12,220,173.72 | -15.79 | Primarily due to reduced intermediary fees incurred by the company in the current period compared to the prior year period | | Financial Expenses | -586,763.67 | -44,932.01 | Not Applicable | Primarily due to increased interest income of the company in the current period compared to the prior year period | | R&D Expenses | 32,210,594.39 | 26,097,340.42 | 23.42 | Primarily due to the company's continuous increase in investment in core technology R&D, leading to higher depreciation expenses from new R&D equipment | | Net Cash Flow from Operating Activities | -27,318,324.09 | -39,412,270.23 | Not Applicable | Primarily due to increased cash received from sales of goods and provision of services in the current period | | Net Cash Flow from Investing Activities | 151,583,978.84 | -31,021,575.58 | Not Applicable | Primarily due to increased redemption of wealth management products purchased with idle funds for cash management in the current period compared to the prior year period | | Net Cash Flow from Financing Activities | -21,785,199.15 | 375,480,238.88 | -105.80 | Primarily due to the company's payment of dividends during the reporting period | Asset and Liability Status Changes (Unit: Yuan) | Item Name | Amount at End of Current Period | Amount at End of Prior Year | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 50,117,123.30 | 135,388,152.58 | -62.98 | Primarily due to the redemption of wealth management products purchased with idle funds | | Other Receivables | 16,799,746.83 | 410,823.46 | 3,989.29 | Primarily due to the recognition of revenue for some projects using the net method in the current period, with corresponding intercompany balances recorded as other receivables | | Deferred Income Tax Assets | 6,153,343.90 | 3,547,914.08 | 73.44 | Primarily due to increased deferred income tax assets recognized for deductible losses in the current period | | Employee Remuneration Payable | 6,016,194.09 | 14,110,269.40 | -57.36 | Primarily due to the payment of bonuses accrued at the end of the prior year in the current period, reducing the balance of employee remuneration payable | | Taxes Payable | 513,153.29 | 4,870,877.98 | -89.46 | Primarily due to the settlement of income tax accrued at the end of the prior year in the current period, reducing the balance of income tax payable | | Other Payables | 8,558,445.54 | 901,184.02 | 849.69 | Primarily due to increased accruals for disability security funds and union fees compared to the beginning of the year, and the recognition of revenue for some projects using the net method in the current period, with corresponding intercompany balances recorded as other payables | | Deferred Income Tax Liabilities | 431,336.29 | 38,815.26 | 1011.25 | Primarily due to increased taxable temporary differences resulting from an increase in right-of-use assets | - As of the end of the reporting period, the company's assets with restricted ownership or use rights amounted to 719,560.00 Yuan, primarily for quality guarantee deposits and performance guarantee deposits[73][74] Analysis of Investment Status The company's trading financial assets balance at the end of the period was 50,117,123.30 Yuan, a significant decrease of 62.98% from the beginning of the period, primarily due to the redemption of wealth management products purchased with idle funds Financial Assets Measured at Fair Value (Unit: Yuan, Currency: RMB) | Asset Category | Beginning Balance | Fair Value Change Gains/Losses for Current Period | Purchase Amount for Current Period | Sale/Redemption Amount for Current Period | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | | Other (Structured Deposits) | 135,388,152.58 | 416,741.00 | 189,998,000.00 | 275,685,770.28 | 50,117,123.30 | - The ending balance of trading financial assets decreased compared to the beginning of the period, primarily due to the redemption of wealth management products purchased with idle funds[71] Analysis of Major Holding and Participating Companies The company's main subsidiary, Shandong Inforbus Information Security Technology Co., Ltd., achieved operating revenue of 17.3585 million Yuan during the reporting period, but both operating profit and net profit were negative, at -0.8036 million Yuan and -0.7634 million Yuan, respectively Major Subsidiary Financial Data (Unit: million Yuan, Currency: RMB) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shandong Inforbus Information Security Technology Co., Ltd. | Subsidiary | Engaged in R&D, production, and O&M services for security software, middleware software, and industry application software | 30.00 | 31.30 | 27.20 | 17.36 | -0.80 | -0.76 | Corporate Governance, Environment and Society This chapter primarily discloses the company's corporate governance situation during the reporting period, specifically noting "None" for the profit distribution or capital reserve to share capital increase plan, indicating no profit distribution or share capital increase for the half-year Profit Distribution or Capital Reserve to Share Capital Increase Plan During the reporting period, the half-year profit distribution plan or capital reserve to share capital increase plan approved by the company's board of directors was "None," meaning no profit distribution or capital reserve to share capital increase - Whether to distribute or increase: No - Number of bonus shares per 10 shares (shares): - - Dividend per 10 shares (Yuan) (tax included): - - Number of shares converted from capital reserve per 10 shares (shares): - Significant Matters This chapter details the company's fulfillment of various commitments during the reporting period, including share lock-up, share price stabilization, share repurchase, and lists daily transactions with related parties and the progress of raised funds utilization, demonstrating strict adherence to commitments and orderly advancement of investment projects Fulfillment of Commitments The company's controlling shareholder, actual controllers, directors, supervisors, senior management, and other shareholders strictly fulfilled all commitments related to the initial public offering during the reporting period, including share lock-up, shareholding and reduction intentions, share price stabilization, share repurchase, compensation for diluted immediate returns, profit distribution policy, legal liability for compensation, and avoidance of horizontal competition and reduction of related party transactions - The company's controlling shareholder, Inforbus Company, and actual controllers Jing Xinhai and Cheng Jianping, committed not to transfer or entrust others to manage their directly or indirectly held shares issued before the company's initial public offering and listing on the Sci-Tech Innovation Board for 36 months from the listing date[85] - The company's shareholder holding 5% or more, Gaoxin Investment, committed not to transfer or entrust others to manage its shares in the company for 12 months from the date of the company's initial public offering and listing on the Sci-Tech Innovation Board[89] - The company, controlling shareholder Inforbus Company, actual controllers Jing Xinhai and Cheng Jianping, and shareholder holding 5% or more Chuangxin Company, committed that if the "Prospectus" contains false records, misleading statements, or major omissions that have a significant and material impact on judging whether the company meets the conditions for initial public offering and listing on the Sci-Tech Innovation Board as stipulated by laws, regulations, and normative documents, the company will repurchase all shares publicly offered by the company at the time of the initial public offering in accordance with the law[113] - The company's controlling shareholder, Inforbus Company, and actual controllers Jing Xinhai and Cheng Jianping, committed that neither they nor their close relatives/this enterprise and other enterprises controlled by this enterprise (excluding the issuer) currently have or are engaged in any business that is the same as or similar to the issuer's main business, or that constitutes or may constitute direct or indirect horizontal competition with the issuer's main business in any aspect[129] Significant Related Party Transactions During the reporting period, the company engaged in daily operating related party transactions including purchasing goods/receiving services and selling goods/providing services, as well as related party leases. Specifically, it received property, accommodation, and catering services from Jinan Chuangxin Property Service Co., Ltd., and sold software products to Shandong Inforbus Software Engineering Co., Ltd. and Kunshan Inforbus Software Engineering Co., Ltd Purchase of Goods/Receipt of Services (Unit: Yuan, Currency: RMB) | Related Party | Related Transaction Content | Amount for Current Period | Amount for Prior Period | | :--- | :--- | :--- | :--- | | Jinan Chuangxin Property Service Co., Ltd. | Property Fees | 238,558.50 | 200,123.80 | | Jinan Chuangxin Property Service Co., Ltd. | Accommodation Fees | 10,322.27 | 18,198.49 | | Jinan Chuangxin Property Service Co., Ltd. | Catering Fees | 567,640.60 | 510,469.80 | | Kunshan Inforbus Software Engineering Co., Ltd. | Technical Service Fees | 986,999.23 | - | Sale of Goods/Provision of Services (Unit: Yuan, Currency: RMB) | Related Party | Related Transaction Content | Amount for Current Period | Amount for Prior Period | | :--- | :--- | :--- | :--- | | Shandong Inforbus Software Engineering Co., Ltd. | Software Products | 2,778,761.07 | 3,101,769.89 | | Kunshan Inforbus Software Engineering Co., Ltd. | Software Products | 61,946.90 | - | Related Party Leases (Company as Lessee, Unit: Yuan, Currency: RMB) | Lessor Name | Type of Leased Asset | Rent Paid for Current Period | Interest Expense on Lease Liabilities for Current Period | | :--- | :--- | :--- | :--- | | Shandong Inforbus Software Engineering Co., Ltd. | Property | 5,725,313.91 | 196,148.10 | | Beijing Inforbus Yilian Software Engineering Co., Ltd. | Property | 2,113,761.46 | 78,216.18 | | Kunshan Inforbus Software Engineering Co., Ltd. | Property | 274,619.04 | 7,512.02 | Progress of Raised Funds Utilization The company's total raised funds from its initial public offering amounted to 476.9256 million Yuan, with a net amount of 399.3573 million Yuan. As of the end of the reporting period, a cumulative total of 167.2581 million Yuan had been invested, representing an investment progress of 41.88%. The amount invested this year was 86.0314 million Yuan. The company used 200.00 million Yuan of idle raised funds for cash management, with an ending balance of 50.00 million Yuan Overall Utilization of Raised Funds (Unit: million Yuan) | Source of Raised Funds | Total Raised Funds | Net Raised Funds | Total Investment Committed in Prospectus | Cumulative Raised Funds Invested as of End of Reporting Period | Cumulative Investment Progress of Raised Funds as of End of Reporting Period (%) | Amount Invested This Year | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | 476.93 | 399.36 | 600.00 | 167.26 | 41.88 | 86.03 | - The company utilized no more than 200.00 million Yuan of idle raised funds for cash management, ensuring it does not affect the construction of raised fund projects and the company's daily operations[152] - As of the end of the reporting period, the balance of idle raised funds used by the company for cash management was 50.00 million Yuan, of which structured deposits accounted for 50.00 million Yuan[153] Share Changes and Shareholder Information This chapter details the company's share capital changes during the reporting period, including the listing and circulation of restricted shares, as well as the total number of shareholders and the top ten shareholders' holdings as of the end of the reporting period, clarifying controlling shareholder and actual controller information Share Capital Changes During the reporting period, the company's total share capital remained unchanged at 85,051,378 shares. Restricted shares decreased by 32,132,633 shares, primarily due to the listing and circulation of some initial public offering restricted shares on March 13, 2025, leading to a corresponding increase in unrestricted tradable shares Share Capital Change Table (Unit: shares) | Item | Quantity Before This Change | Proportion Before This Change (%) | Increase/Decrease in This Change (+,-) | Quantity After This Change | Proportion After This Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 65,914,817 | 77.50 | -32,132,633 | 33,782,184 | 39.72 | | II. Unrestricted Tradable Shares | 19,136,561 | 22.50 | 32,132,633 | 51,269,194 | 60.28 | | III. Total Shares | 85,051,378 | 100.00 | - | 85,051,378 | 100.00 | - On March 13, 2025, 32,132,633 shares of the company's initial public offering restricted shares became tradable[159] Restricted Share Change Table (Unit: shares) | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Released During Reporting Period | Restricted Shares at End of Reporting Period | Release Date | | :--- | :--- | :--- | :--- | :--- | | Shandong Hi-Tech Venture Capital Co., Ltd. | 13,650,000 | 13,650,000 | 0 | 2025-3-13 | | Beijing Huaruan Innovation Investment Partnership (Limited Partnership) | 2,700,000 | 2,700,000 | 0 | 2025-3-13 | | Wu Jinyang | 2,700,000 | 2,700,000 | 0 | 2025-3-13 | | Liu Tianzhuo | 2,600,000 | 2,600,000 | 0 | 2025-3-13 | | Nanjing Lianchuang Digital Equity Investment Partnership (Limited Partnership) | 1,686,341 | 1,686,341 | 0 | 2025-3-13 | | Jinan Shuntong Investment Partnership (Limited Partnership) | 1,125,000 | 1,125,000 | 0 | 2025-3-13 | | Cheng Huan | 1,124,227 | 1,124,227 | 0 | 2025-3-13 | | Jiaxing Shangzhe Dangkang Equity Investment Partnership (Limited Partnership) | 1,124,227 | 1,124,227 | 0 | 2025-3-13 | | Jinan Shun Yuan Investment Partnership (Limited Partnership) | 868,000 | 868,000 | 0 | 2025-3-13 | | Qingdao Yizhou Private Equity Investment Fund Partnership (Limited Partnership) | 843,170 | 843,170 | 0 | 2025-3-13 | | Chen Liping | 843,169 | 843,169 | 0 | 2025-3-13 | | Huzhou Chuanghui Venture Capital Partnership (Limited Partnership) | 562,114 | 562,114 | 0 | 2025-3-13 | | Qingdao Lumingtou Jinhai Investment Management Partnership (Limited Partnership) | 562,114 | 562,114 | 0 | 2025-3-13 | | Gao Longlin | 472,100 | 472,100 | 0 | 2025-3-13 | | Yuekai Securities Co., Ltd. | 367,000 | 367,000 | 0 | 2025-3-13 | | Yu Xiaoming | 281,057 | 281,057 | 0 | 2025-3-13 | | Zhenyuan Investment (Jinan) Partnership (Limited Partnership) | 281,057 | 281,057 | 0 | 2025-3-13 | | Qingdao Liyu Cheng Equity Investment Partnership (Limited Partnership) | 281,057 | 281,057 | 0 | 2025-3-13 | | Hang Zhong | 32,000 | 32,000 | 0 | 2025-3-13 | | Qian Jian | 24,000 | 24,000 | 0 | 2025-3-13 | | Zhang Lixin | 5,000 | 5,000 | 0 | 2025-3-13 | | Lu Junjing | 1,000 | 1,000 | 0 | 2025-3-13 | Shareholder Information As of the end of the reporting period, the company had a total of 5,632 common shareholders. Among the top ten shareholders, Shandong Inforbus Software Engineering Co., Ltd. is the controlling shareholder, holding 25.22%, with Jing Xinhai and Cheng Jianping as actual controllers and parties acting in concert. Some shareholders' restricted shares were released during the reporting period - Total number of common shareholders at the end of the reporting period: 5,632 households[163] Top Ten Shareholders' Holdings (Unit: shares) | Shareholder Name | Ending Holding Quantity | Proportion (%) | Quantity of Restricted Shares Held | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Shandong Inforbus Software Engineering Co., Ltd. | 21,450,000 | 25.22 | 21,450,000 | Domestic Non-State-Owned Legal Person | | Shandong Hi-Tech Venture Capital Co., Ltd. | 13,650,000 | 16.05 | 0 | State-Owned Legal Person | | Jinan Chuangye Information Technology Development Co., Ltd. | 6,352,400 | 7.47 | 6,352,400 | Domestic Non-State-Owned Legal Person | | Wu Jinyang | 2,700,000 | 3.17 | 0 | Domestic Natural Person | | Beijing Huaruan Innovation Investment Partnership (Limited Partnership) | 2,700,000 | 3.17 | 0 | Other | | Jinan Huiyuan Investment Partnership (Limited Partnership) | 1,349,500 | 1.59 | 1,349,500 | Other | | Nanjing Lianchuang Digital Equity Investment Partnership (Limited Partnership) | 1,346,746 | 1.58 | 0 | Other | | Jing Xinhai | 1,260,000 | 1.48 | 1,260,000 | Domestic Natural Person | | Cheng Jianping | 1,244,000 | 1.46 | 1,244,000 | Domestic Natural Person | | Jinan Shuntong Investment Partnership (Limited Partnership) | 1,125,000 | 1.32 | 0 | Other | - Shandong Inforbus Software Engineering Co., Ltd. is the controlling shareholder of the company, and Jing Xinhai and Cheng Jianping are parties acting in concert and the actual controllers of the company[169] - Wu Jinyang and Beijing Huaruan Innovation Investment Partnership (Limited Partnership) constitute parties acting in concert[169] Top Ten Restricted Shareholders' Holdings and Restrictions (Unit: shares) | No. | Restricted Shareholder Name | Quantity of Restricted Shares Held | Tradable Date | Restriction Conditions | | :--- | :--- | :--- | :--- | :--- | | 1 | Shandong Inforbus Software Engineering Co., Ltd. | 21,450,000 | March 15, 2027 | 36 months from listing date | | 2 | Jinan Chuangye Information Technology Development Co., Ltd. | 6,352,400 | March 15, 2027 | 36 months from listing date | | 3 | Jinan Huiyuan Investment Partnership (Limited Partnership) | 1,349,500 | March 15, 2027 | 36 months from listing date | | 4 | Jing Xinhai | 1,260,000 | March 15, 2027 | 36 months from listing date | | 5 | Cheng Jianping | 1,244,000 | March 15, 2027 | 36 months from listing date | | 6 | Shenzhen Kaiyuan Securities Investment Co., Ltd. | 1,063,142 | March 13, 2026 | 24 months from listing date | | 7 | Minsheng Securities Investment Co., Ltd. | 1,063,142 | March 13, 2026 | 24 months from listing date | Bond-Related Information During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments, nor any convertible corporate bonds - Corporate bonds (including enterprise bonds) and non-financial enterprise debt financing instruments: Not Applicable - Convertible corporate bonds: Not Applicable Financial Report This chapter provides the company's consolidated and parent company financial statements for the first half of 2025, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, with detailed notes on financial statement items, accounting policies, taxation, related party transactions, and supplementary information, comprehensively reflecting the company's financial position and operating results Financial Statements This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, detailing the financial position, operating results, and cash flow at the end of the reporting period Consolidated Balance Sheet (June 30, 2025 vs. December 31, 2024) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and Bank Balances | 389,826,125.20 Yuan | 358,161,119.60 Yuan | | Trading Financial Assets | 50,117,123.30 Yuan | 135,388,152.58 Yuan | | Accounts Receivable | 270,422,872.16 Yuan | 260,977,407.19 Yuan | | Total Assets | 832,549,846.39 Yuan | 859,989,449.60 Yuan | | Total Liabilities | 41,095,450.40 Yuan | 48,671,084.67 Yuan | | Equity Attributable to Parent Company Owners | 791,454,395.99 Yuan | 811,318,364.93 Yuan | Consolidated Income Statement (January-June 2025 vs. January-June 2024) | Item | First Half of 2025 | First Half of 2024 | | :--- | :--- | :--- | | Operating Revenue | 59,836,479.24 Yuan | 60,450,826.88 Yuan | | Operating Cost | 12,339,974.81 Yuan | 8,306,100.96 Yuan | | Selling Expenses | 19,131,662.17 Yuan | 17,957,802.74 Yuan | | R&D Expenses | 32,210,594.39 Yuan | 26,097,340.42 Yuan | | Total Profit | -10,158,362.15 Yuan | 1,357,794.85 Yuan | | Net Profit | -7,956,776.02 Yuan | 1,981,672.27 Yuan | | Basic Earnings Per Share (Yuan/share) | -0.09 | 0.03 | Consolidated Cash Flow Statement (January-June 2025 vs. January-June 2024) | Item | First Half of 2025 | First Half of 2024 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -27,318,324.09 Yuan | -39,412,270.23 Yuan | | Net Cash Flow from Investing Activities | 151,583,978.84 Yuan | -31,021,575.58 Yuan | | Net Cash Flow from Financing Activities | -21,785,199.15 Yuan | 375,480,238.88 Yuan | | Net Increase in Cash and Cash Equivalents | 102,480,455.60 Yuan | 305,046,393.07 Yuan | Company Basic Information This section introduces the company's share capital changes since its overall conversion and establishment in 2007, including multiple private placements and the initial public offering in 2024, with the registered capital ultimately changing to 85.051378 million Yuan; the company's business scope covers computer software and hardware sales, technical services, and system integration - Shandong Inforbus Software Commercial Middleware Co., Ltd. was established as a joint-stock company through an overall conversion from Shandong Inforbus Software Commercial Middleware Co., Ltd. on July 20, 2007[208] - In March 2024, the company made its initial public offering of 21.262845 million RMB ordinary shares (A shares), changing its registered capital from 63.788533 million Yuan to 85.051378 million Yuan[209] - The company's main business scope includes sales and maintenance services for computers, software and auxiliary equipment, electronic equipment, and computer network equipment; design, integration, and installation services for computer systems; design, development, production, and sales of computer software; and computer technology consulting, services, and personnel training[209] Basis of Financial Statement Preparation These financial statements are prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance, their application guidelines, interpretations, and other relevant regulations, and comply with the China Securities Regulatory Commission's "Information Disclosure Rules for Companies Issuing Securities to the Public No. 15 – General Provisions for Financial Reports (Revised 2023)"; the company has evaluated its ability to continue as a going concern and found no significant doubts - These financial statements are prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance, their application guidelines, interpretations, and other relevant regulations[210] - The company also discloses relevant financial information in accordance with the China Securities Regulatory Commission's "Information Disclosure Rules for Companies Issuing Securities to the Public No. 15 – General Provisions for Financial Reports (Revised 2023)"[210] - The company has evaluated its ability to continue as a going concern for the 12 months from the end of the reporting period and found no significant doubts or circumstances regarding its ability to continue as a going concern[211] Significant Accounting Policies and Estimates This section details the company's accounting policies and estimates regarding accounting periods, functional currency, materiality standards, business combinations, consolidated financial statement preparation, financial instrument recognition and measurement, asset impairment, revenue recognition, government grants, and deferred income tax, ensuring the truthfulness and accuracy of financial reporting - The company's accounting year runs from January 1 to December 31 of the Gregorian calendar[214] - The company and its domestic subsidiaries use RMB as their functional currency[216] Materiality Standards | Item | Materiality Standard | | :--- | :--- | | Significant individually impaired accounts receivable | Single accounts receivable amount exceeds 0.5% of total assets | | Significant write-off of accounts receivable in current period | Single accounts receivable amount exceeds 1% of total profit | | Significant prepayments overdue for more than 1 year | Single prepayment amount exceeds 0.5% of total assets | | Significant accounts payable overdue for more than 1 year | Single accounts payable amount exceeds 0.5% of total assets | | Significant other payables overdue for more than 1 year | Single other payable amount exceeds 0.5% of total assets | | Significant investment activities | Investment amount exceeds 5 million Yuan | - The company classifies financial assets at initial recognition based on the business model for managing financial assets and the contractual cash flow characteristics of the financial assets into financial assets measured at amortized cost, financial assets measured at fair value through other comprehensive income, and financial assets measured at fair value through profit or loss[228] - The company performs impairment accounting and recognizes loss provisions for notes receivable, accounts receivable, accounts receivable financing, other receivables, contract assets, and other items based on expected credit losses[235] - 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[282] - Middleware software sales: Revenue is recognized upon completion of installation and acceptance, obtaining a signed installation and adjustment form or acceptance form from the customer, or when contractual acceptance conditions are met; if the contract does not require installation and acceptance, revenue is recognized upon shipment and customer receipt[283] - Middleware customized development: Revenue is recognized upon obtaining the customer's signed acceptance document[283] - Middleware O&M services: For contracts with specified service periods, revenue is recognized using the straight-line method; for contracts without specified service periods, revenue is recognized upon completion of the service and obtaining proof of service completion[284] - Government grants related to assets are recognized as deferred income and amortized into profit or loss over the useful life of the related asset using a rational and systematic method. Government grants related to income, intended to compensate the company for related costs or losses in future periods, are recognized as deferred income and recognized in profit or loss in the period when the related costs or losses are incurred; those intended to compensate for already incurred related costs or losses are directly recognized in profit or loss[287] - The company recognizes deferred income tax based on temporary differences between the carrying amounts of assets and liabilities at the balance sheet date and their tax bases, using the balance sheet liability method[290] Taxation The company's main taxes include value-added tax and corporate income tax. The company enjoys corporate income tax incentives for key software enterprises within national planning (10% tax rate), R&D expense super deduction, and immediate refund of value-added tax for software products and exemption from value-added tax for technology transfer/development. Subsidiary Xinan Company applies small and micro enterprise income tax preferential policies Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Amount of goods sold or taxable services provided | 13%, 6% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable and tax-exempt/refunded amount | 7% | | Corporate Income Tax | Taxable income | 10%, 20% | - The company meets the conditions for key software enterprises within national planning and is subject to corporate income tax at a reduced rate of 10% for January-June 2025[301] - R&D expenses actually incurred by enterprises in R&D activities, which do not form intangible assets and are recognized in current profit or loss, are eligible for an additional 100% deduction before tax from January 1, 2023[302] - Subsidiary Xinan Company applies small and micro enterprise income tax preferential policies for January-June 2025, where the portion of annual taxable income exceeding 1 million Yuan but not exceeding 3 million Yuan is reduced by 25% and taxed at a rate of 20%[302] - The company and its subsidiaries sell self-developed and produced software products, and after paying value-added tax at the statutory rate, enjoy an immediate refund of the portion of the actual value-added tax burden exceeding 3%[302] - The company and its subsidiaries are exempt from value-added tax for technology transfer and technology development[303] Notes to Consolidated Financial Statement Items This section details the specific situation of each item in the consolidated financial statements, including cash and bank balances, trading financial assets, notes receivable, accounts receivable, contract assets, other receivables, inventories, fixed assets, right-of-use assets, intangible assets, long-term deferred expenses, deferred income tax assets/liabilities, other non-current assets, assets with restricted ownership or use rights, accounts payable, contract liabilities, employee remuneration payable, taxes payable, other payables, non-current liabilities due within one year, other current liabilities, lease liabilities, share capital, capital reserve, surplus reserve, undistributed profits, operating revenue and operating cost, taxes and surcharges, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, fair value change gains/losses, asset disposal gains/losses, credit impairment losses, asset impairment losses, non-operating income, non-operating expenses, income tax expenses, cash flow statement items, and supplementary information Cash and Bank Balances (Unit: Yuan, Currency: RMB) | Item | Ending Balance | Beginning Balance | | :--- | :--- | :--- | | Cash on Hand | 46,716.30 | 47,355.24 | | Bank Deposits | 389,059,820.98 | 357,325,604.36 | | Other Cash and Bank Balances | 719,587.92 | 788,160.00 | | Total | 389,826,125.20 | 358,161,119.60 | - As of the end of the reporting period, the company's assets with restricted ownership or use rights amounted to 719,560.00 Yuan, primarily for quality guarantee deposits and performance guarantee deposits[305] Trading Financial Assets (Unit: Yuan, Currency: RMB) | Item | Ending Balance | Beginning Balance | | :--- | :--- | :--- | | Financial assets measured at fair value through profit or loss (structured deposits) | 50,117,123.30 | 135,388,152.58 | | Total | 50,117,123.30 | 135,388,152.58 | Accounts Receivable (Unit: Yuan, Currency: RMB) | Category | Book Balance (Amount) | Book Balance (Proportion (%)) | Impairment Provision (Amount) | Impairment Provision (Provision Rate (%)) | Carrying Amount | | :--- | :--- | :--- | :--- | :--- | :--- | | Individually impaired | 4,734,000.00 | 1.54 | 4,734,000.00 | 100.00 | - | | Collectively impaired | 301,956,040.11 | 98.46 | 31,533,167.95 | 10.44 | 270,422,872.16 | | Total | 306,690,040.11 | / | 36,267,167.95 | / | 270,422,872.16 | Inventory Classification (Unit: Yuan, Currency: RMB) | Item | Book Balance | Carrying Amount | | :--- | :--- | :--- | | Raw Materials | 3,180,158.21 | 3,180,158.21 | | Contract Performance Costs | 3,197,101.14 | 3,197,101.14 | | Total | 6,377,259.35 | 6,377,259.35 | Intangible Assets (Unit: Yuan, Currency: RMB) | Item | Patent Rights | Software and Other | Total | | :--- | :--- | :--- | :--- | | I. Original Cost (Ending Balance) | 3,622,641.52 | 21,429,076.82 | 25,051,718.34 | | II. Accumulated Amortization (Ending Balance) | 3,021,226.48 | 7,608,959.72 | 10,630,186.20 | | IV. Carrying Amount (Ending Carrying Amount) | 601,415.04 | 13,820,117.10 | 14,421,532.14 | Operating Revenue and Operating Cost (Unit: Yuan, Currency: RMB) | Item | Current Period Amount (Revenue) | Current Period Amount (Cost) | Prior Period Amount (Revenue) | Prior Period Amount (Cost) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 59,836,479.24 | 12,339,974.81 | 60,450,826.88 | 8,306,100.96 | | Total | 59,836,479.24 | 12,339,974.81 | 60,450,826.88 | 8,306,100.96 | Credit Impairment Losses (Unit: Yuan, Currency: RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Notes Receivable Impairment Loss | -17,300.00 | - | | Accounts Receivable Impairment Loss | -2,915,587.06 | -2,400,169.88 | | Other Receivables Impairment Loss | -913,705.45 | 88,317.28 | | Total | -3,846,592.51 | -2,311,852.60 | Net Cash Flow from Operating Activities (Unit: Yuan, Currency: RMB) | Supplementary Information | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -27,318,324.09 | -39,412,270.23 | Research and Development Expenses During the reporting period, the company's total R&D expenses amounted to 32,210,594.39 Yuan, all expensed, representing a 23.42% increase from the prior year period; major expenditures included employee compensation, technical service and testing fees, depreciation and amortization, and lease fees R&D Expenses by Nature of Expense (Unit: Yuan, Currency: RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Employee Compensation | 16,601,705.04 | 16,725,692.14 | | Technical Service and Testing Fees | 7,356,329.54 | 5,394,969.68 | | Depreciation and Amortization | 6,236,615.40 | 1,996,006.77 | | Lease Fees | 1,428,853.49 | 1,332,457.66 | | Royalty Fees | 401,629.10 | 401,165.26 | | Travel Expenses | 163,800.25 | 234,574.24 | | Material Costs | 1,380.18 | 9,274.67 | | Other | 20,281.39 | 3,200.00 | | Total | 32,210,594.39 | 26,097,340.42 | | Of which: Expensed R&D | 32,210,594.39 | 26,097,340.42 | | Capitalized R&D | - | - | Interests in Other Entities The company owns one wholly-owned subsidiary, Shandong Inforbus Information Security Technology Co., Ltd., with a registered capital of 30.00 million Yuan, primarily engaged in technology development, with a 100% shareholding ratio Composition of Enterprise Group (Unit: million Yuan, Currency: RMB) | Subsidiary Name | Main Operating Location | Registered Location | Registered Capital | Business Nature | Shareholding Ratio (%) (Direct) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Xinan Company (Shandong Inforbus Information Security Technology Co., Ltd.) | Jinan City, Shandong Province | Jinan City, Shandong Province | 30.00 | Technology Development | 100.00 | Investment Establishment | Government Grants During the reporting period, the company's total government grants recognized in current profit or loss amounted to 6,603,271.69 Yuan, including 159,381.43 Yuan related to assets and 6,443,890.26 Yuan related to income; the ending balance of government grants in deferred income was 371,382.18 Yuan Liability Items Involving Government Grants (Unit: Yuan, Currency: RMB) | Financial Statement Item | Beginning Balance | New Grants for Current Period | Transferred to Other Income for Current Period | Ending Balance | Related to Assets/Income | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 480,763.61 | - | 159,381.43 | 321,382.18 | Related to Assets | | Deferred Income | 83,800.95 | - | 33,800.95 | 50,000.00 | Related to Income | | Total | 564,564.56 | - | 193,182.38 | 371,382.18 | / | Government Grants Recognized in Current Profit or Loss (Unit: Yuan, Currency: RMB) | Type | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Related to Assets | 159,381.43 | 371,738.29 | | Related to Income | 6,443,890.26 | 7,625,037.54 | | Total | 6,603,271.69 | 7,996,775.83 | Risks Related to Financial Instruments The company primarily faces credit risk, liquidity risk, and market risk (including interest rate risk); the company manages these risks through diversified investments, monitoring customer credit, maintaining sufficient cash flow, and monitoring bank borrowings. At period-end, the asset-liability ratio was 4.94% - The main risks arising from the company's financial instruments are credit risk, liquidity risk, and market risk (including exchange rate risk, interest rate risk, and commodity price risk)[460] - The company manages credit risk by classifying it into portfolios, primarily arising from bank deposits, accounts receivable, accounts receivable financing, and other receivables[461] - In managing liquidity risk, the company maintains and monitors what management considers sufficient cash and cash equivalents to meet its operating needs and mitigate the impact of cash flow fluctuations[463] - The company monitors its capital structure based on the asset-liability ratio (total liabilities divided by total assets). At period-end, the company's asset-liability ratio was 4.94% (prior year-end: 5.66%)[464] Interest-Bearing Financial Instruments Held (Unit: million Yuan) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Floating Rate Financial Instruments (Financial Assets) | 439.94 | 493.55 | | Of which: Cash and Bank Balances | 389.83 | 358.16 | | Trading Financial Assets | 50.12 | 135.39 | Disclosure of Fair Value The company's total assets continuously measured at fair value at period-end amounted to 50,715,723.30 Yuan, primarily including trading financial assets (structured deposits) and accounts receivable financing; the fair value of these assets is mainly measured using Level 2 and Level 3 inputs Fair Value of Assets and Liabilities Measured at Fair Value at Period-End (Unit: Yuan, Currency: RMB) | Item | Fair Value at Period-End (Level 2 Fair Value Measurement) | Fair Value at Period-End (Level 3 Fair Value Measurement) | Total | | :--- | :--- | :--- | :--- | | I. Continuous Fair Value Measurement | | | | | (I) Trading Financial Assets | 50,117,123.30 | - | 50,117,123.30 | | 1. Financial assets measured at fair value through profit or loss (debt instrument investments) | 50,117,123.30 | - | 50,117,123.30 | | (VI) Accounts Receivable Financing | 598,600.00 | - | 598,600.00 | | Total assets continuously measured at fair value | 50,715,723.30 | - | 50,715,723.30 | - The company recognizes the fair value of wealth management products held based on their expected recoverable amounts. For accounts receivable financing held, their fair value is determined by their face value[470] Related Parties and Related Party Transactions The company's controlling shareholder is Shandong Inforbus Software Engineering Co., Ltd., and the actual controllers are Jing Xinhai and Cheng Jianping. During the reporting period, the company engaged in daily related party transactions including goods purchase and sale, service provision and receipt, and leasing, and disclosed the ending balances of accounts receivable from and payable to related parties - The ultimate controlling parties of the enterprise are Jing Xinhai and Cheng Jianping, who are parties acting in concert[472] Parent Company Information (Unit: million Yuan, Currency: RMB) | Parent Company Name | Registered Location | Business Nature | Registered Capital | Parent Company's Shareholding Ratio in the Enterprise (%) | Parent Company's Voting Rights Ratio in the Enterprise (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Shandong Inforbus Software Engineering Co., Ltd. | Jinan City, Shandong Province | Software Development | 60.00 | 25.22 | 25.22 | Purchase of Goods/Receipt of Services Table (Unit: Yuan, Currency: RMB) | Related Party | Related Transaction Content | Amount for Current Period | Amount for Prior Period | | :--- | :--- | :--- | :--- | | Jinan Chuangxin Property Service Co., Ltd. | Property Fees | 238,558.50 | 200,123.80 | | Jinan Chuangxin Property Service Co., Ltd. | Accommodation Fees | 10,322.27 | 18,198.49 | | Jinan Chuangxin Property Service Co., Ltd. | Catering Fees | 567,640.60 | 510,469.80 | | Kunshan Inforbus Software Engineering Co., Ltd. | Technical Service Fees | 986,999.23 | - | Sale of Goods/Provision of Services Table (Unit: Yuan, Currency: RMB) | Related Party | Related Transaction Content | Amount for Current Period | Amount for Prior Period | | :--- | :--- | :--- | :--- | | Shandong Inforbus Software Engineering Co., Ltd. | Software Products | 2,778,761.07 | 3,101,769.89 | | Kunshan Inforbus Software Engineering Co., Ltd. | Software Products | 61,946.90 | - | Company as Lessee (Unit: Yuan, Currency: RMB) | Lessor Name | Type of Leased Asset | Amount for Current Period (Rent Paid) | Amount for Current Period (Interest Expense on Lease Liabilities) | | :--- | :--- | :--- | :--- | | Shandong Inforbus Software Engineering Co., Ltd. | Property | 5,725,313.91 | 196,148.10 | | Beijing Inforbus Yilian Software Engineering Co., Ltd. | Property | 2,113,761.46 | 78,216.18 | | Kunshan Inforbus Software Engineering Co., Ltd. | Property | 274,619.04 | 7,512.02 | Key Management Personnel Remuneration (Unit: Yuan, Currency: RMB) | Item | Amount for Current Period | Amount for Prior Period | | :--- | :--- | :--- | | Key Management Personnel Remuneration | 1,711,091.00 | 1,454,988.00 | Receivables (Unit: Yuan, Currency: RMB) | Item Name | Related Party | Ending Balance (Book Balance) | Ending Balance (Impairment Provision) | | :--- | :--- | :--- | :--- | | Accounts Receivable | Shandong Inforbus Software Engineering Co., Ltd. | 9,384,244.54 | 619,424.45 | | Accounts Receivable | Kunshan Inforbus Software Engineering Co., Ltd. | 666,946.90 | 33,347.35 | Payables (Unit: Yuan, Currency: RMB) | Item Name | Related Party | Ending Book Balance | | :--- | :--- | :--- | | Accounts Payable | Kunshan Inforbus Software Engineering Co., Ltd. | 79,038.50 | Share-based Payment The cumulative amount of equity-settled share-based payments recognized in capital reserve is 578,115.00 Yuan - Cumulative amount of equity-settled share-based payments recognized in capital reserve: 578,115.00 Yuan[486] Notes to Parent Company Financial Statement Major Items This section provides detailed notes on the parent company's major financial statement items, including accounts receivable, other receivables, long-term equity investments, operating revenue and operating cost, and investment income, similar to the consolidated statements but focusing on the parent company's individual situation Parent Company Accounts Receivable (Unit: Yuan, Currency: RMB) | Age | Ending Book Balance | | :--- | :--- |