美格智能(002881) - 2025 Q2 - 季度财报

Section I Important Notice, Table of Contents, and Definitions Important Notice The Board and senior management guarantee the report's accuracy and completeness, while the company plans no cash dividends or share transfers from capital reserves - The company's board of directors and senior management guarantee the truthfulness, accuracy, and completeness of the report content and assume legal responsibility[3] - The company's head, chief accountant, and head of accounting department declare the financial report is true, accurate, and complete[3] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[4] Table of Contents This report's clear directory outlines nine main chapters, providing comprehensive information on company profile, MD&A, governance, significant matters, share changes, bonds, financial reports, and other data for investors - The report comprises nine main sections, covering company operations, financials, governance, and significant matters[6] Reference Documents Reference documents include signed and sealed financial statements, original copies of publicly disclosed documents, and the semi-annual report signed by the legal representative - Reference documents include signed and sealed financial statements, original copies of publicly disclosed documents, and the semi-annual report signed by the legal representative[8][9][10] Definitions This section defines common terms used in the report, including company name, reporting period, subsidiary names, and key technologies like IoT, 4G/5G, smart modules, high-computing power modules, FWA, AI, and large models, ensuring accurate understanding of the report content - Defines company entities (e.g., Meigsmart, Xi'an Zhaoge, Fangge International) and the reporting period[12] - Explains key technologies and industry terms such as IoT, 4G/5G, smart modules, high-computing power modules, FWA, AI, and large models[12] Section II Company Profile and Key Financial Indicators Company Profile Meigsmart Technology Co., Ltd. (stock code 002881) is listed on the Shenzhen Stock Exchange. Its legal representative is Wang Ping, with contacts including Board Secretary Huang Min and Securities Affairs Representative Hu Fang, located at 32F, Block B, Shenzhen International Innovation Center, 1006 Shennan Avenue, Futian District, Shenzhen Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Meigsmart | | Stock Code | 002881 | | Listed Exchange | Shenzhen Stock Exchange | | Chinese Name | Meigsmart Technology Co., Ltd. | | Legal Representative | Wang Ping | Contact Information | Position | Name | Contact Address | Phone | Email | | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Huang Min | 32F, Block B, Shenzhen International Innovation Center, 1006 Shennan Avenue, Futian District, Shenzhen | 0755-83218588 | ir@meigsmart.com | | Securities Affairs Representative | Hu Fang | 32F, Block B, Shenzhen International Innovation Center, 1006 Shennan Avenue, Futian District, Shenzhen | 0755-83218588 | ir@meigsmart.com | Key Accounting Data and Financial Indicators In H1 2025, operating revenue grew 44.50% to 1.886 billion yuan, net profit attributable to shareholders increased 151.38% to 84.1668 million yuan, and non-recurring net profit rose 157.87%. Net cash flow from operating activities was -83.9782 million yuan, a 66.89% decrease. Total assets and net assets attributable to shareholders both increased. Total non-recurring gains and losses were 1.8318 million yuan H1 2025 Key Accounting Data and Financial Indicators | Indicator | Current Period (yuan) | Prior Year Period (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,886,475,312.32 | 1,305,551,460.81 | 44.50% | | Net Profit Attributable to Shareholders of the Listed Company | 84,166,774.08 | 33,482,328.84 | 151.38% | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-recurring Gains and Losses | 82,334,927.22 | 31,929,268.36 | 157.87% | | Net Cash Flow from Operating Activities | -83,978,198.61 | -50,319,764.17 | -66.89% | | Basic Earnings Per Share (yuan/share) | 0.32 | 0.13 | 146.15% | | Diluted Earnings Per Share (yuan/share) | 0.32 | 0.13 | 146.15% | | Weighted Average Return on Net Assets | 5.24% | 2.26% | 2.98% | | As of Current Period-end (yuan) | As of Prior Year-end (yuan) | Change from Prior Year-end | | Total Assets | 3,004,831,909.42 | 2,759,554,563.51 | 8.89% | | Net Assets Attributable to Shareholders of the Listed Company | 1,620,821,608.21 | 1,567,113,142.90 | 3.43% | Non-recurring Gains and Losses and Amounts | Item | Amount (yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 988,995.44 | | Government Grants Recognized in P/L | 2,613,586.26 | | Fair value changes and disposal gains/losses from financial assets/liabilities (excluding effective hedges related to normal operations) | -1,164,517.04 | | Other non-operating income and expenses | -9,366.57 | | Less: Income tax impact | 596,851.23 | | Total | 1,831,846.86 | Section III Management Discussion and Analysis Main Business Activities During the Reporting Period The company specializes in wireless communication modules and IoT solutions, leveraging 4G/5G technology to offer smart, high-computing power, and data transmission modules for intelligent connected vehicles, FWA, and new retail. It operates on an R&D-driven model with in-house design, outsourced manufacturing, balanced domestic and international markets, and direct sales. Revenue growth was driven by high R&D investment, increased shipments, leading smart cockpit solutions, and 5G FWA product penetration into top global operators - The company's main business is wireless communication modules and IoT solutions, with core technologies covering 4G/5G communication, smart Android systems, edge AI computing power, and generative AI applications[26] - Main products include smart modules (applied in new energy vehicle smart cockpits, ADAS/DMS, new retail), high-computing power modules (providing 8T and above AI computing power, supporting large model edge deployment, applied in robots, drones, AI retail, etc.), and data transmission modules[26][27][28] - The business model is R&D-driven, with independent design and development, outsourced manufacturing, balanced domestic and international markets, and primarily direct sales[28] - Performance drivers include high R&D investment, increased product shipments and customer base, leading smart cockpit solutions, 5G FWA product penetration into global top operators, and intelligent and customized product strategies reinforcing differentiated competitive advantages[29][30] - Industry trends show rapid global AI industry growth, accelerated industrialization of large models, iterative AI performance of edge chips and modules, rapid increase in embedded AI cellular module shipments, and 5G technology entering its 'second half' with 5G-A commercialization[30][31][32][33] [Analysis of Core Competencies](index=10&type=section&id=%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%