智莱科技(300771) - 2025 Q2 - 季度财报

Important Notice, Table of Contents, and Definitions This section provides the company's semi-annual report important notice, management's assurance of content accuracy, a statement on operational risks, and the profit distribution plan - Management statement: The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false records, misleading statements, or major omissions[3] - Risk warning: The company currently has no significant risks affecting normal operations, with daily operating risks primarily including downstream customer prosperity, market competition, customer concentration, raw material price fluctuations, exchange rate fluctuations, and industry policies[4] - Profit distribution plan: The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserves into share capital[5] - Key term definitions: Provides definitions for company entities such as Zhile Technology, Hubei Factory, Vietnam Factory, Zhile Webox, US Webox, HK Webox, Zhile Medical, Zhile Import & Export, Zhile Pengfei, Technical Service Company, and certifications like 3C, CE, FCC, ROHS, ETL[11] Company Profile and Key Financial Indicators This section provides the company's fundamental information and key financial indicators, highlighting revenue and net profit growth alongside changes in asset values - Company basic information: Stock ticker "Zhile Technology", stock code "300771", listed on the Shenzhen Stock Exchange, legal representative is Gan Deyi[13] - Non-recurring gains and losses: Total non-recurring gains and losses for the reporting period amounted to 13,686,607.37 yuan[23] Major Financial Data (Current Reporting Period vs Prior Year Period) | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 213,615,020.70 | 164,818,965.46 | 29.61% | | Net Profit Attributable to Shareholders of Listed Company | 25,235,708.40 | 12,493,392.57 | 101.99% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 11,549,101.03 | -16,076,753.20 | 171.84% | | Net Cash Flow from Operating Activities | -2,493,909.00 | -14,112,358.49 | 82.33% | | Basic Earnings Per Share (yuan/share) | 0.11 | 0.05 | 120.00% | | Diluted Earnings Per Share (yuan/share) | 0.11 | 0.05 | 120.00% | | Weighted Average Return on Net Assets | 1.30% | 0.63% | 0.67% | Major Financial Data (End of Current Reporting Period vs End of Prior Year) | Indicator | End of Current Reporting Period (yuan) | End of Prior Year (yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,236,859,367.91 | 2,307,541,740.39 | -3.06% | | Net Assets Attributable to Shareholders of Listed Company | 1,930,727,993.13 | 1,942,055,596.53 | -0.58% | Management Discussion and Analysis This section analyzes the company's operational performance, core competencies, financial results, and strategic responses to market and operational risks Main Business Activities During the Reporting Period The company, a global leader in intelligent storage and delivery, focuses on R&D, manufacturing, sales, and service of diverse smart solutions across various sectors, maintaining stable business and operating models - Main business: A global leader in intelligent storage and delivery, providing R&D, manufacturing, sales, and service of intelligent storage and delivery solutions and products[25] - Main product types: Intelligent express cabinet equipment, self-service electronic locker equipment, intelligent temperature-controlled and vending equipment, smart medical equipment, intelligent battery swap cabinet equipment, and other customized intelligent interactive equipment[25] - Sales model: Intelligent express cabinet equipment adopts a direct sales model to enterprise customers; other equipment is operated by wholly-owned subsidiary Zhile Webox through independent operation, joint operation, and equipment leasing models[27][28] - Production model: Adopts an "order-to-production" model, arranging production based on order volume and delivery cycles, with production tasks undertaken by Hubei Factory and Vietnam Factory[30] - R&D model: Primarily "independent R&D", possessing systematic solution design and development capabilities in software, hardware, structural design, and platform systems[32] Analysis of Core Competencies The company's core strengths include a strong brand and customer base, robust R&D capabilities with 689 intellectual properties, efficient production facilities, and comprehensive nationwide service - Brand and customer advantages: Upholds the philosophy of "quality first, customer first", providing personalized solutions and diversified products, establishing cooperative relationships with numerous well-known domestic and international customers[33] - R&D advantages: Possesses systematic solution design and development capabilities, with products passing multiple international certifications such as 3C, CE, FCC, ROHS, and ETL. As of the end of the reporting period, accumulated 689 intellectual property rights (61 invention patents, 360 utility model patents, 110 design patents, 158 software copyrights)[34] - Production advantages: Owns two major production bases in Hubei and Vietnam, introducing advanced automated equipment and implementing refined production management and a comprehensive quality control system[35] - Service advantages: Possesses a professional service team of approximately 90 people, covering 24 provinces and 4 municipalities nationwide, with 7*24-hour rapid response capability[36] Analysis of Main Business Operations Main business operations showed strong growth with revenue up 29.61% and net profit up 101.99%, driven by intelligent express cabinets and export sales, while cash flows improved - Export sales contribution: During the reporting period, the company's main business achieved overseas sales revenue of 116.5733 million yuan, accounting for 64.35% of main business revenue[103] Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 213,615,020.70 | 164,818,965.46 | 29.61% | No significant change | | Operating Cost | 143,176,707.07 | 122,566,564.23 | 16.82% | No significant change | | Selling Expenses | 16,524,407.48 | 22,921,598.22 | -27.91% | No significant change | | Administrative Expenses | 18,545,907.09 | 17,855,695.75 | 3.87% | No significant change | | Financial Expenses | -7,826,143.60 | -17,957,527.88 | 56.42% | Primarily due to a decrease in interest income compared to the prior year | | Income Tax Expenses | 5,901,913.27 | 4,769,268.10 | 23.75% | No significant change | | R&D Investment | 26,409,832.66 | 31,113,032.07 | -15.12% | No significant change | | Net Cash Flow from Operating Activities | -2,493,909.00 | -14,112,358.49 | 82.33% | Primarily due to an increase in cash received from sales of goods and services compared to the prior period | | Net Cash Flow from Investing Activities | 111,802,726.60 | -107,136,022.62 | 204.36% | Primarily due to an increase in cash received from investment recoveries and a decrease in cash paid for investments compared to the prior period | | Net Cash Flow from Financing Activities | -51,070,344.59 | 16,084,523.08 | -417.51% | Primarily due to a decrease in cash received from borrowings and an increase in cash paid for debt repayment compared to the prior period | | Net Increase in Cash and Cash Equivalents | 57,235,651.32 | -103,248,617.08 | 155.43% | Primarily due to an increase in net cash flow from operating and investing activities compared to the prior period | Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Profit Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Intelligent Express Cabinet Equipment | 134,813,468.34 | 81,709,515.50 | 39.39% | 42.31% | 13.31% | 15.51% | | Other | 32,465,294.25 | 19,552,400.10 | 39.77% | 82.20% | 210.83% | -24.93% | | By Region | | | | | | | | South China Region | 43,981,690.20 | 37,382,467.96 | 15.00% | -26.55% | -33.61% | 9.04% | | Export Sales | 116,573,339.33 | 65,640,703.56 | 43.69% | 76.99% | 59.37% | 6.22% | Analysis of Non-Core Business Operations The company had no non-core business operations to analyze during the reporting period - The company had no non-core business analysis during the reporting period[42] Analysis of Assets and Liabilities Total assets and net assets slightly decreased, with shifts in asset composition including increased cash and reduced short-term borrowings, while overseas assets show no significant impairment risk - Financial assets measured at fair value: The fair value of financial assets at period-end was 1,001,684,173.69 yuan[47][48] Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 545,453,452.03 | 24.38% | 488,918,729.08 | 21.19% | 3.19% | No significant change | | Accounts Receivable | 46,725,442.88 | 2.09% | 78,113,911.42 | 3.39% | -1.30% | Primarily due to collection of accounts receivable from the beginning of the period | | Inventories | 237,795,649.24 | 10.63% | 211,685,816.32 | 9.17% | 1.46% | No significant change | | Construction in Progress | 175,957.57 | 0.01% | 256,771.10 | 0.01% | 0.00% | Primarily due to the transfer of the new industrial park construction project of subsidiary Hubei Zhile Technology Co., Ltd. to fixed assets | | Short-term Borrowings | 80,000,000.00 | 3.58% | 151,079,527.78 | 6.55% | -2.97% | Primarily due to repayment of matured short-term borrowings during the period | | Notes Receivable | 151,426.28 | 0.01% | 743,775.43 | 0.03% | -0.02% | Primarily due to the maturity and payment of bank acceptance bills from the beginning of the period | | Receivables Financing | 2,394,584.71 | 0.11% | 17,357,704.40 | 0.75% | -0.64% | Primarily due to a decrease in unexpired bank acceptance bills received at the end of the reporting period compared to the beginning of the period | | Other Current Assets | 52,855,796.15 | 2.36% | 38,254,821.20 | 1.66% | 0.70% | Primarily due to an increase in VAT input tax credit at the end of the reporting period compared to the beginning of the period | | Other Non-current Financial Assets | 55,000,000.00 | 2.46% | 35,000,000.00 | 1.52% | 0.94% | Primarily due to new investment in Xiamen Xibo Alpha Venture Capital Fund Partnership (Limited Partnership) during the reporting period | | Employee Benefits Payable | 19,437,207.11 | 0.87% | 29,380,830.64 | 1.27% | -0.40% | Primarily due to the company's continued efforts in cost reduction and efficiency improvement, focusing on personnel structure optimization and quality enhancement, leading to a decrease in personnel compensation compared to the beginning of the period | | Other Current Liabilities | 20,217,764.66 | 0.90% | 1,822,982.62 | 0.08% | 0.82% | Primarily due to non-derecognition of endorsed but unexpired notes receivable with higher credit risk at the end of the reporting period, and a slight increase in deferred output VAT compared to the beginning of the period | | Provisions | 2,875,227.25 | 0.13% | 5,339,771.27 | 0.23% | -0.10% | Primarily due to changes in revenue structure during the reporting period, leading to a corresponding decrease in provisions recognized based on sales contract warranty service terms | | Derivative Financial Liabilities | 0.00 | 0.00% | 80,040.00 | 0.00% | 0.00% | Primarily due to the redemption of matured futures products | Major Overseas Assets | Specific Content of Asset | Reason for Formation | Asset Scale (RMB ten thousand) | Location | Operating Model | Profit/Loss (RMB ten thousand) | Proportion of Overseas Assets to Company's Net Assets | Significant Impairment Risk | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | WEBOX INC. | Investment establishment | 784.73 | USA | Trade, Service | -18.99 | 0.41% | No | | HK WEBOX TECH LIMITED | Investment establishment | 39,245.93 | Hong Kong | Investment, Trade | 2,003.96 | 20.33% | No | | WEBOX VIETNAM CO.,LTD. | Investment establishment | 10,766.35 | Vietnam | Production, Trade | -86.22 | 5.58% | No | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (yuan) | Fair Value Change Gain/Loss for the Period (yuan) | Amount Purchased During the Period (yuan) | Amount Sold During the Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets (excluding derivative financial assets) | 1,062,913,112.46 | 8,314,307.30 | 927,363,356.84 | 1,043,706,001.81 | 944,019,588.98 | | Other Equity Instrument Investments | 270,000.00 | | | | 270,000.00 | | Other Non-current Financial Assets | 35,000,000.00 | | 20,000,000.00 | | 55,000,000.00 | | Receivables Financing | 17,357,704.40 | | | | 2,394,584.71 | | Total Above | 1,115,540,816.86 | 8,314,307.30 | 947,363,356.84 | 1,043,706,001.81 | 1,001,684,173.69 | | Financial Liabilities | 80,040.00 | | | 80,040.00 | 0.00 | Analysis of Investment Activities The company had no significant equity or non-equity investments, with fair value financial assets totaling 944.02 million yuan, primarily in wealth management products with no overdue amounts - Derivative investment situation: The company had no derivative investments for hedging or speculative purposes during the reporting period[93][94] - Entrusted loan situation: The company had no entrusted loans during the reporting period[95] Financial Assets Measured at Fair Value | Asset Category | Initial Investment Cost (yuan) | Fair Value Change Gain/Loss for the Period (yuan) | Amount Purchased During the Reporting Period (yuan) | Amount Sold During the Reporting Period (yuan) | Accumulated Investment Income (yuan) | Ending Balance (yuan) | Source of Funds | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Other | 1,062,913,112.46 | 8,314,307.30 | 927,363,356.84 | 1,043,706,001.81 | 7,028,739.65 | 944,019,588.98 | Proprietary Funds | | Total | 1,062,913,112.46 | 8,314,307.30 | 927,363,356.84 | 1,043,706,001.81 | 7,028,739.65 | 944,019,588.98 | -- | Overview of Wealth Management | Specific Type | Source of Wealth Management Funds | Amount of Wealth Management Transactions (RMB ten thousand) | Outstanding Balance (RMB ten thousand) | Overdue Unrecovered Amount (RMB ten thousand) | Impairment Provision for Overdue Unrecovered Wealth Management (RMB ten thousand) | | :--- | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Proprietary Funds | 24,740 | 8,025 | 0 | 0 | | Brokerage Wealth Management Products | Proprietary Funds | 67,996.34 | 84,426.11 | 0 | 0 | | Total | -- | 92,736.34 | 92,451.11 | 0 | 0 | Significant Asset and Equity Disposals The company did not undertake any significant asset or equity disposals during the reporting period - The company did not sell significant assets during the reporting period[96] - The company did not sell significant equity during the reporting period[97] Analysis of Major Holding and Participating Companies The company had no important holding or participating company information requiring disclosure during the reporting period - The company had no important holding or participating company information requiring disclosure during the reporting period[97] Information on Structured Entities Controlled by the Company The company had no structured entities under its control during the reporting period - The company had no structured entities under its control during the reporting period[98] Risks Faced by the Company and Countermeasures The company faces risks from industry downturns, competition, customer concentration, and market volatility, addressed by R&D, market expansion, hedging, and policy monitoring - Downstream industry prosperity risk: If the growth of e-commerce and express delivery slows, it may lead to a decrease in demand for intelligent express cabinets, affecting the company's performance. Countermeasures include closely monitoring industry trends, preparing technology and products, and exploring new business growth points in segmented areas[98] - Intensified market competition risk: Faces pressure from domestic and international competitors in R&D, production capacity, and pricing. Countermeasures include continuously increasing R&D investment, strengthening R&D team building, optimizing products, and enhancing intellectual property protection[100] - Customer concentration risk: The intelligent express cabinet industry is dominated by a few large operators, leading to high customer concentration. Countermeasures include maintaining communication with customers, preparing product and technology reserves in advance, and intensifying efforts to expand new markets, customers, and products domestically and internationally to optimize customer structure[101] - Raw material price fluctuation risk: Rising prices of main raw materials may affect the company's costs and profits. Countermeasures include maintaining appropriate inventory levels and hedging price fluctuation risks through derivative transactions[102] - Exchange rate fluctuation risk: Overseas sales are primarily settled in US dollars, and significant exchange rate fluctuations may lead to exchange losses. Countermeasures include closely monitoring exchange rate trends and adopting foreign exchange hedging tools to mitigate risks[103] - Industry policy risk: Policies such as the "Express Delivery Market Management Measures" may affect the sales of intelligent express cabinet products. Countermeasures include actively monitoring the implementation and changes of policies, strengthening business development in segmented industries of intelligent storage and delivery, and promoting diversified business development[104] Registration Form for Research, Communication, and Interview Activities During the Reporting Period The company hosted two investor engagement activities during the reporting period, including an online performance briefing and an on-site institutional research visit - April 25, 2025: Participated online in Shenzhen Zhile Technology Co., Ltd.'s 2024 Annual Online Performance Briefing, with other investors as the reception type[105] - May 13, 2025: Conducted an on-site research visit at the company's meeting room, with institutional investors as the reception type, including Hongsike Asset Management, Dongguan Taigu Investment Consulting, Guangxi Kefa Investment Management, Ningbo Bank Shenzhen Branch, Far East Horizon, Taixi Jin (Guangdong) Investment Consulting, Zhuhai Huashun Bank Shenzhen Branch, Shenzhen Beidouxing Investment Management, Guangdong Jinmayi Aviation Power, and China Acquisition Enterprise Group Holdings[106] Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period - The company did not formulate a market value management system[107] - The company did not disclose a valuation enhancement plan[107] Implementation of 'Quality and Return Dual Enhancement' Action Plan The company did not disclose an announcement regarding the 'Quality and Return Dual Enhancement' action plan during the reporting period - The company did not disclose an announcement regarding the "Quality and Return Dual Enhancement" action plan[107] Corporate Governance, Environment, and Society This section covers corporate governance, environmental disclosures, and social responsibility, noting no changes in management, no profit distribution, and Hubei Zhile's inclusion in environmental disclosure requirements - Changes in directors, supervisors, and senior management: No changes during the reporting period[109] - Profit distribution and capital reserve to share capital conversion: The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserves into share capital for the half-year[110] - Implementation of equity incentive plans, employee stock ownership plans, or other employee incentive measures: No relevant plans or measures during the reporting period[111] - Environmental information disclosure: Hubei Zhile Technology Co., Ltd. was included in the list of enterprises required to disclose environmental information by law[112] - Social responsibility: Not applicable[113] Significant Matters This section outlines the company's significant matters, including the fulfillment of commitments by key personnel, absence of major financial irregularities, legal disputes, or significant related-party transactions, and notes the unaudited status of the financial report - Fulfillment of commitments: The actual controller Gan Deyi, directors and senior management Wang Xingping, Yi Mingli, Zhang Ou, Chen Caiyu, Wu Liang, Liao Yi, and Shenzhen SF Investment Co., Ltd. all normally fulfilled their commitments regarding share reduction, non-competition, related-party transactions, and fund occupation made during the initial public offering or refinancing[115][117][118] - Non-operating fund occupation: The company had no non-operating fund occupation by controlling shareholders or other related parties during the reporting period[148] - Illegal external guarantees: The company had no illegal external guarantees during the reporting period[149] - Appointment and dismissal of accounting firms: The company's semi-annual report was unaudited[150] - Bankruptcy and reorganization: The company had no bankruptcy and reorganization related matters during the reporting period[151] - Litigation matters: The company had no significant litigation or arbitration matters during this reporting period[152] - Penalties and rectifications: The company had no penalties or rectifications during the reporting period[152] - Integrity status: The company and its controlling shareholder and actual controller have good integrity status[153] - Significant related-party transactions: The company had no related-party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, related-party creditor-debtor relationships, or dealings with affiliated financial companies during the reporting period[153][154][155] - Significant contracts and their performance: The company had no entrustment, contracting, or leasing matters, nor any significant guarantees or other significant contracts during the reporting period[160][161][162] - Other significant matters: The company had no other significant matters requiring explanation during the reporting period[167] - Significant matters of subsidiaries: The company had no significant matters of subsidiaries during the reporting period[168] Share Changes and Shareholder Information The company's share capital and structure remained unchanged, with 25,891 shareholders and stable top ten holdings, including the actual controller's 23.68% stake, and no changes in management shareholdings or control - Total shareholders: The total number of ordinary shareholders at the end of the reporting period was 25,891[174] - Repurchase account: As of the end of the reporting period, the company's top 10 shareholders included the company's dedicated repurchase securities account, holding 5,000,000 shares, accounting for 2.08% of the company's total share capital[175] - Changes in shareholdings of directors, supervisors, and senior management: No changes during the reporting period[177] - Changes in controlling shareholder or actual controller: No changes during the reporting period[178] - Voting rights differential arrangements: The company has no voting rights differential arrangements[176] - Agreed repurchase transactions: The company's top 10 ordinary shareholders and top 10 unrestricted ordinary shareholders did not engage in agreed repurchase transactions during the reporting period[176] Share Capital Changes | Item | Quantity Before This Change (shares) | Proportion | Increase/Decrease in This Change (＋, －) | Quantity After This Change (shares) | Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 58,800,862 | 24.50% | 0 | 58,800,862 | 24.50% | | II. Unrestricted Shares | 181,199,138 | 75.50% | 0 | 181,199,138 | 75.50% | | III. Total Shares | 240,000,000 | 100.00% | 0 | 240,000,000 | 100.00% | Shareholdings of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at End of Reporting Period (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Gan Deyi | Domestic Natural Person | 23.68% | 56,840,314 | 42,630,235 | 14,210,079 | | Yi Mingli | Domestic Natural Person | 6.04% | 14,501,181 | 0 | 14,501,181 | | Wang Xingping | Domestic Natural Person | 4.61% | 11,056,656 | 8,292,492 | 2,764,164 | | Zhang Ou | Domestic Natural Person | 4.38% | 10,504,180 | 7,878,135 | 2,626,045 | | Liao Yi | Domestic Natural Person | 2.76% | 6,620,100 | 0 | 6,620,100 | | Shenzhen SF Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 0.95% | 2,272,899 | 0 | 2,272,899 | | Zhang Ye | Domestic Natural Person | 0.68% | 1,627,050 | 0 | 1,627,050 | | Zheng Mianjuan | Domestic Natural Person | 0.51% | 1,230,000 | 0 | 1,230,000 | | Wu Liang | Domestic Natural Person | 0.45% | 1,082,110 | 0 | 1,082,110 | | UBS AG | Overseas Legal Person | 0.37% | 883,730 | 0 | 883,730 | 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[181] Financial Report This section presents the company's unaudited semi-annual financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, along with detailed notes on accounting policies, taxes, and other financial disclosures Audit Report The company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[183] Financial Statements This section presents the consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements, detailing key financial positions and performance Consolidated Balance Sheet (Period-End Balance) | Item | Period-End Balance (yuan) | | :--- | :--- | | Total Assets | 2,236,859,367.91 | | Total Liabilities | 309,195,461.10 | | Total Owners' Equity Attributable to Parent Company | 1,930,727,993.13 | | Total Owners' Equity | 1,927,663,906.81 | Consolidated Income Statement (Current Period Amount) | Item | 2025 Half-Year (yuan) | | :--- | :--- | | Total Operating Revenue | 213,615,020.70 | | Total Operating Costs | 199,978,566.46 | | Operating Profit | 30,522,461.61 | | Total Profit | 30,691,886.05 | | Net Profit | 24,789,972.78 | | Net Profit Attributable to Parent Company Shareholders | 25,235,708.40 | | Minority Interests | -445,735.62 | | Total Comprehensive Income | 23,476,660.98 | | Total Comprehensive Income Attributable to Parent Company Owners | 23,922,396.60 | | Basic Earnings Per Share | 0.11 | | Diluted Earnings Per Share | 0.11 | Consolidated Cash Flow Statement (Current Period Amount) | Item | 2025 Half-Year (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | -2,493,909.00 | | Net Cash Flow from Investing Activities | 111,802,726.60 | | Net Cash Flow from Financing Activities | -51,070,344.59 | | Net Increase in Cash and Cash Equivalents | 57,235,651.32 | | Cash and Cash Equivalents at End of Period | 545,414,328.58 | Company Overview Established in 1999 and listed in 2019, Shenzhen Zhile Technology specializes in R&D, production, sales, and service of diverse intelligent storage and delivery solutions - Date of establishment: November 5, 1999[218] - Registered capital: RMB 240 million[218] - Listing date and exchange: Listed on the ChiNext board of the Shenzhen Stock Exchange on April 22, 2019[218] - Main business: R&D, production, sales, and service of intelligent express cabinet equipment, self-service electronic locker equipment, intelligent temperature-controlled and vending equipment, smart medical equipment, intelligent battery swap cabinet equipment, and other customized intelligent interactive equipment and solutions[219] Basis of Financial Statement Preparation Financial statements are prepared on a going concern basis, adhering to Accounting Standards for Business Enterprises and CSRC rules, primarily using historical cost measurement - Basis of preparation: Prepared on a going concern basis, in accordance with "Accounting Standards for Business Enterprises" issued by the Ministry of Finance and "Compilation Rules for Information Disclosure by Companies Offering Securities to the Public No. 15 – General Provisions on Financial Reports" issued by the China Securities Regulatory Commission[220] - Basis of accounting: Accrual basis, with all items measured at historical cost except for certain financial instruments[220] - Going concern ability: The company has the ability to continue as a going concern for at least 12 months from the end of the reporting period[221] Significant Accounting Policies and Estimates This section outlines the company's comprehensive accounting policies and estimates, covering areas from financial statement compliance and measurement bases to specific asset, liability, revenue, and expense recognition principles - Statement of compliance with enterprise accounting standards: Financial statements comply with enterprise accounting standards, truly and completely reflecting the company's financial position, operating results, and cash flows[223] - Accounting period: Adopts the calendar year, from January 1 to December 31 annually[224] - Functional currency: The company and its domestic subsidiaries use RMB as their functional currency, while overseas subsidiaries use USD as their functional currency[226] - Materiality criteria: Various financial indicators and transaction materiality criteria are set, for example, a single provision for bad debts exceeding 10% of the total amount of various receivables and greater than 2 million yuan is considered material[227] - Classification of financial assets: Classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss[252] - Revenue recognition principles: Revenue is recognized when the customer obtains control of the related goods, with the timing of revenue recognition determined by whether performance obligations are satisfied over time or at a point in time[333][335] - Government grants: Classified as asset-related or income-related. Asset-related grants are recognized as deferred income and amortized into profit or loss over the asset's useful life; income-related grants are recognized as deferred income or current profit or loss depending on the compensation object[350] - Lease accounting treatment: As a lessee, right-of-use assets and lease liabilities are recognized; as a lessor, leases are classified as finance leases or operating leases for accounting treatment[357][361] Taxes This section details the company's primary tax types and rates, including VAT and corporate income tax, noting its high-tech enterprise status for a 15% corporate income tax rate in 2024 - Tax incentives: The company is recognized as a high-tech enterprise, applying a 15% corporate income tax rate in 2024[369] Major Tax Categories and Rates | Tax Type | Tax Rate | | :--- | :--- | | Value-Added Tax (VAT) | 13%, 9%, 6% | | Urban Maintenance and Construction Tax | 7% | | Corporate Income Tax | 25%, 16.5%, 21%, 20%, 15% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | Corporate Income Tax Rates for Taxable Entities | Taxable Entity Name | Income Tax Rate | | :--- | :--- | | Shenzhen Zhile Technology Co., Ltd. | 15% | | Shenzhen Zhile Webox Technology Co., Ltd. | 25% | | Shenzhen Zhile Technology Import & Export Co., Ltd. | 25% | | Shenzhen Zhile Medical Technology Co., Ltd. | 25% | | Hubei Zhile Technical Service Co., Ltd. | 25% | | Hubei Zhile Technology Co., Ltd. | 25% | | Wuhan Zhile Pengfei Technology Co., Ltd. | 25% | | WEBOX INC | 21% | | WEBOX COMPANY VIETNAM LIMITED | 20% | | HK WEBOX TECH LIMITED | 16.5% | Notes to Consolidated Financial Statement Items This section provides detailed notes on consolidated financial statement items, including cash, trading financial assets, receivables, inventories, and short-term borrowings, highlighting key balances and changes - Cash and cash equivalents: Period-end balance of 545,453,452.03 yuan, of which 14,022,851.18 yuan is held overseas[372] - Trading financial assets: Period-end balance of 944,019,588.98 yuan, primarily wealth management products[373] - Notes receivable: Period-end balance of 151,426.28 yuan, all bank acceptance notes[374] - Accounts receivable: Period-end carrying amount of 46,725,442.88 yuan, with a bad debt provision of 5,812,408.55 yuan[381][384] - Contract assets: Period-end carrying amount of 3,879,823.53 yuan, primarily quality assurance deposits[392] - Inventories: Period-end carrying amount of 237,795,649.24 yuan, with an inventory impairment provision of 30,364,039.07 yuan[422][424] - Long-term equity investments: Period-end carrying amount of 43,100,149.56 yuan, primarily investments in associates[434] - Investment properties: Period-end carrying amount of 2,246,735.28 yuan, measured using the cost model[438][439] - Fixed assets: Period-end carrying amount of 201,028,864.93 yuan[440][442] - Short-term borrowings: Period-end balance of 80,000,000.00 yuan, a significant decrease from 151,079,527.78 yuan at the beginning of the period[464] - Other current liabilities: Period-end balance of 20,217,764.66 yuan, primarily including deferred output VAT and unexpired endorsed notes[482] - Provisions: Period-end balance of 2,875,227.25 yuan, primarily for product quality assurance[485] - Deferred income: Period-end balance of 13,481,012.39 yuan, primarily government grants[486] - Other comprehensive income: Period-end balance of 9,290,945.03 yuan, decreased by 1,313,311.80 yuan during the period due to foreign currency financial statement translation differences[492][493] - Retained earnings: Period-end balance of 931,408,526.55 yuan[495] - Operating revenue and operating cost: Current period operating revenue of 213,615,020.70 yuan, operating cost of 143,176,707.07 yuan[497] - Financial expenses: Current period amount of -7,826,143.60 yuan, primarily due to decreased interest income[506] - Fair value change gains: Current period amount of 8,394,347.30 yuan, primarily from trading financial assets[509] - Investment income: Current period amount of 5,944,218.39 yuan, primarily from disposal of trading financial assets[510] - Credit impairment losses: Current period amount of 2,237,403.06 yuan, primarily from bad debt losses on accounts receivable[512] - Asset impairment losses: Current period amount of -3,705,846.04 yuan, primarily from inventory write-downs[513] - Foreign currency monetary items: Period-end USD cash and cash equivalents of 495,186,987.80 yuan, USD accounts receivable of 114,787,709.67 yuan[532][533] Research and Development Expenses Total R&D expenses for the period were 26,409,832.66 yuan, entirely expensed, comprising personnel, direct inputs, depreciation, and other costs, showing a decrease from the prior year - Total R&D expenses: Current period amount of 26,409,832.66 yuan[536] - Expensed R&D expenses: 26,409,832.66 yuan, all expensed[536] - Main components: Personnel costs 22,178,123.25 yuan, direct inputs 1,622,892.62 yuan, depreciation and amortization of long-term deferred expenses 320,129.01 yuan, amortization of intangible assets 370,094.17 yuan, and other expenses 1,918,593.61 yuan[536] Equity in Other Entities This section details the company's equity interests, including full ownership in various subsidiaries, an 85% stake in Shenzhen Zhile Medical, and equity method investments in two associates - Summary financial information for insignificant joint ventures and associates: Total carrying amount of investments 43,100,149.56 yuan, net profit -1,001,832.45 yuan, total comprehensive income -1,001,832.45 yuan[538] Composition of Enterprise Group (Major Subsidiaries) | Subsidiary Name | Registered Capital (yuan) | Business Nature | Shareholding Ratio (Direct) | Shareholding Ratio (Indirect) | Method of Acquisition | | :--- | :--- | :--- | :--- | :--- | :--- | | Hubei Zhile Technology Co., Ltd. | 407,800,000.00 | Manufacturing | 100.00% | | Establishment | | Wuhan Zhile Pengfei Technology Co., Ltd. | 5,000,000.00 | R&D, After-sales | 100.00% | | Establishment | | WEBOX INC. | 6,751,800.00 | Sales, After-sales | 100.00% | | Subscription | | HK WEBOX TECH LIMITED | 84,402,320.00 | Investment, Trade | 100.00% | | Establishment | | WEBOX VIETNAM COMPANY LIMITED | 13,618,720.00 | Manufacturing, Trade | | 100.00% | Establishment | | Shenzhen Zhile Technology Import & Export Co., Ltd. | 30,000,000.00 | Trade | 100.00% | | Establishment | | Shenzhen Zhile Webox Technology Co., Ltd. | 16,000,000.00 | Leasing, Operation | 100.00% | | Establishment | | Shenzhen Zhile Medical Technology Co., Ltd. | 20,000,000.00 | Trade | 85.00% | | Establishment | | Hubei Zhile Technical Service Co., Ltd. | 10,000,000.00 | After-sales | | 100.00% | Establishment | Important Joint Ventures or Associates | Joint Venture or Associate Name | Business Nature | Shareholding Ratio (Direct) | Shareholding Ratio (Indirect) | Accounting Method | | :--- | :--- | :--- | :--- | :--- | | Hubei Meisaier Technology Co., Ltd. | Electrical machinery and equipment manufacturing | 36.98% | 4.01% | Equity method | | Hubei Hejia Zhi Equity Investment Partnership (Limited Partnership) | Investment | 50.00% | | Equity method | Government Grants This section details government grants, with 13,481,012.39 yuan in asset-related deferred income and 3,933,229.95 yuan recognized in current profit or loss, primarily from VAT refunds and technical subsidies - Liability items involving government grants: At period-end, deferred income from government grants totaled 13,481,012.39 yuan, related to assets[540] Government Grants Recognized in Current Profit or Loss | Source of Other Income | Current Period Amount (yuan) | | :--- | :--- | | R&D Fund for Intelligent Logistics Terminal System Key Technologies Supporting Self-Service Sending and Receiving Functions | 73,950.48 | | VAT Immediate Refund Income | 3,091,930.71 | | Individual Income Tax Withholding and Remittance Handling Fee Refund | 86,302.40 | | Xianning Economic Development Zone Industrial Project Infrastructure Construction Fund and Industrial Development Support Fund | 111,401.34 | | Infrastructure Construction Fund | 88,374.36 | | Enterprise Job Stabilization/Expansion Subsidy | 1,000.00 | | Industrial Development Support Fund | 26,200.86 | | Manufacturing High-Quality Development Project Technical Transformation Subsidy | 440,104.32 | | Patent Application Subsidy | 13,965.48 | | Total | 3,933,229.95 | Risks Related to Financial Instruments The company manages financial instrument risks, including interest rate, foreign exchange, credit, and liquidity risks, through monitoring, credit assessment, and maintaining adequate cash reserves - Risk management objectives and policies: To achieve a balance between risk and return, minimize negative impacts, and maximize shareholder interests[545] - Market risk: Includes interest rate risk (primarily from bank deposits, short-term borrowings) and foreign exchange risk (primarily related to foreign currencies such as USD)[546][548] - Credit risk: Primarily arises from bank deposits, receivables, etc. The company controls credit risk by assessing debtor creditworthiness, setting credit limits and terms, and regularly monitoring credit records[550][551] - Liquidity risk: Ensured by maintaining sufficient cash and cash equivalents and monitoring bank borrowing utilization to meet operational needs[552] Fair Value Disclosures This section details fair value disclosures for assets and liabilities, with continuously measured assets totaling 1,001,684,173.69 yuan, primarily trading financial assets, valued using unit net values or discounted cash flow/market approaches - Total continuously measured fair value assets: 1,001,684,173.69 yuan[555] Main Components and Valuation Techniques | Item | Period-End Fair Value (yuan) | Valuation Technique | | :--- | :--- | :--- | | Trading Financial Assets | 944,019,588.98 | Unit net value provided by asset manager on valuation date | | Receivables Financing | 2,394,584.71 | Valued using discounted cash flow | | Other Equity Instrument Investments | 270,000.00 | Valued using market approach | | Other Non-current Financial Assets | 55,000,000.00 | Valued using market approach | Related Parties and Related-Party Transactions This section identifies related parties, including ultimate controller Gan Deyi, and details related-party transactions such as lease income, guarantees, key management compensation, and outstanding receivables and payables - Ultimate controlling party: Gan Deyi[559] - Related-party leasing (as lessor): Recognized house lease income of 429,908.22 yuan from associate Hubei Meisaier Technology Co., Ltd. during the period[564] - Related-party guarantee (as guarantee recipient): Actual controller Gan Deyi provided a maximum guarantee of 180,000,000.00 yuan for the company[567][569] - Key management personnel compensation: Current period amount of 1,409,425.24 yuan[571] - Related-party receivables: Accounts receivable from Hubei Meisaier Technology Co., Ltd. of 2,050,243.52 yuan[573] - Related-party payables: Total related-party payables of 3,797.50 yuan[575] Notes to Major Items in Parent Company Financial Statements This section details major items in the parent company's financial statements, including accounts receivable, other receivables, and long-term equity investments, highlighting significant balances and intercompany transactions - Accounts receivable: Period-end carrying amount of 295,316,705.08 yuan, with a bad debt provision of 6,160,464.91 yuan. Of this, accounts receivable from related parties within the consolidation scope amounted to 277,066,665.96 yuan, accounting for 91.90%[579][582][584] - Other receivables: Period-end carrying amount of 8,873,495.61 yuan, with a bad debt provision of 23,572.58 yuan. Of this, intercompany receivables from subsidiaries amounted to 6,325,521.19 yuan, accounting for 71.10%[593][596][598] - Long-term equity investments: Period-end carrying amount of 560,034,269.56 yuan, including investments in subsidiaries of 516,934,120.00 yuan and investments in associates and joint ventures of 43,100,149.56 yuan[611] - Operating revenue and operating cost: Current period operating revenue of 162,904,193.54 yuan, operating cost of 117,197,473.60 yuan[616] - Investment income: Current period amount of 3,062,009.09 yuan, primarily from disposal of trading financial assets[621] Supplementary Information This section provides supplementary financial data, including a detailed non-recurring gains and losses statement totaling 13,686,607.37 yuan, and key metrics like weighted average net asset return and earnings per share Detailed Statement of Non-Recurring Gains and Losses | Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 82,654.71 | | Government grants recognized in current profit or loss (excluding those closely related to the company's normal operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit or loss) | 754,996.84 | | Gains or losses from changes in fair value of financial assets and financial liabilities held by non-financial enterprises, and gains or losses from disposal of financial assets and financial liabilities, excluding effective hedging activities related to normal business operations | 15,340,398.14 | | Other non-operating income and expenses apart from the above items | 169,424.44 | | Other profit or loss items that meet the definition of non-recurring gains and losses | 86,302.40 | | Less: Income tax impact | 2,746,750.91 | | Minority interests impact (after tax) | 418.25 | | Total | 13,686,607.37 | 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 | 1.30% | 0.11 | 0.11 | | Net Profit Attributable to Ordinary Shareholders of the Company After Deducting Non-Recurring Gains and Losses | 0.59% | 0.05 | 0.05 |