朗玛信息(300288) - 2025 Q2 - 季度财报

Section 1 Important Notices, Table of Contents, and Definitions Important Notice The Board of Directors guarantees the truthfulness, accuracy, and completeness of this semi-annual report and plans no profit distribution for the period - The Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the report, and the company's responsible persons affirm the same for the financial statements[3] - Investors are advised of risks associated with forward-looking statements, market competition, operational management, and talent shortages[4] - The company does not plan to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[5] Table of Contents This section lists the report's eight main chapters and their starting page numbers - The report comprises eight main chapters, covering important notices, company profile, management discussion, corporate governance, significant events, share changes, bonds, and the financial report[7] Definitions This section defines key terms used in the report, including the company, its core business platforms, and major subsidiaries - The report defines "the Company/Company/Listed Company" as Guizhou Longmaster Information & Technology Co, Ltd, and clarifies core businesses like "39 Internet Hospital" and related subsidiaries[13] - The reporting period is defined as January 1, 2025, to June 30, 2025[13] Section 2 Company Profile and Key Financial Indicators I. Company Profile This section provides basic information about the company, including its stock ticker, listing exchange, and legal representative - The company's stock ticker is "Longmaster," stock code "300288," listed on the Shenzhen Stock Exchange, with Wang Wei as the legal representative[15] II. Contacts and Contact Methods This section provides contact details for the company's Board Secretary and Securities Affairs Representative - The Board Secretary is Wang Chun, and the Securities Affairs Representative is Xiao Yueyue, with their contact address in Guiyang National High-tech Industrial Development Zone[16] III. Other Information This section states that the company's registration details and contact information remained unchanged during the reporting period - The company's registered address, office address, website, email, and information disclosure locations remained unchanged during the reporting period, consistent with the 2024 annual report[17][19][20] IV. Key Accounting Data and Financial Indicators The company's revenue and net profit declined year-over-year, while operating cash flow increased Key Accounting Data and Financial Indicators Comparison | Indicator | Current Period (Yuan) | Prior Year Period (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 151,889,892.43 | 184,085,715.45 | -17.49% | | Net Profit Attributable to Shareholders | 14,435,502.74 | 24,045,547.67 | -39.97% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 13,860,690.71 | 23,489,379.06 | -40.99% | | Net Cash Flow from Operating Activities | 14,659,181.55 | 12,051,430.25 | 21.64% | | Basic Earnings Per Share (Yuan/Share) | 0.04 | 0.07 | -42.86% | | Diluted Earnings Per Share (Yuan/Share) | 0.04 | 0.07 | -42.86% | | Weighted Average Return on Equity | 1.33% | 1.49% | -0.16% | | Period-End Indicators | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change from Prior Year-End | | Total Assets | 1,320,814,988.03 | 1,326,100,361.07 | -0.40% | | Net Assets Attributable to Shareholders | 1,089,217,963.64 | 1,079,851,580.83 | 0.87% | V. Differences in Accounting Data under Domestic and Foreign Accounting Standards The company reports no discrepancies in net profit or net assets between Chinese and international/foreign accounting standards - There are no differences in net profit or net assets between financial reports prepared under international accounting standards and Chinese accounting standards[22] - There are no differences in net profit or net assets between financial reports prepared under foreign accounting standards and Chinese accounting standards[23] VI. Non-recurring Profit and Loss Items and Amounts This section details non-recurring profit and loss items, totaling 574,812.03 Yuan, primarily from government grants and asset disposals Non-recurring Profit and Loss Items and Amounts | Item | Amount (Yuan) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 23,176.91 | Loss on retirement of fixed assets | | Government Grants Recognized in Current Profit/Loss | 1,614,770.21 | Primarily prior-period grants recognized in the current period and current-period grants recognized | | Other Non-operating Income and Expenses | -736,024.01 | Primarily settlement compensation expenses from the Sixth Hospital | | Less: Income Tax Impact | 239,598.67 | | | Minority Interest Impact (After Tax) | 87,512.41 | | | Total | 574,812.03 | | - The company has no other items that meet the definition of non-recurring profit and loss, nor has it reclassified any non-recurring items as recurring[26][27] Section 3 Management Discussion and Analysis I. Principal Business Activities During the Reporting Period The company focused on its "Internet + Healthcare" strategy, but revenue and profit declined due to reduced demand in key segments - The company adheres to the "Internet healthcare is essentially healthcare" philosophy, focusing on "Internet + Healthcare" and promoting its AI product, "39AI Doctor"[29] - During the reporting period, revenue from the two main businesses, medical information services and mobile resale, decreased due to adverse factors like declining market demand[29] Key Financial Performance for H1 2025 | Indicator | Amount (10k Yuan) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 15,188.99 | -17.49% | | Net Profit Attributable to Shareholders | 1,443.55 | -39.97% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 1,386.07 | -40.99% | (I) Medical Services + Internet Medical Services Business Segment This segment integrates physical and online healthcare services, with a focus on promoting the "39AI Doctor" artificial intelligence product - The company has built an online-offline integrated healthcare system, with Guiyang Sixth Hospital providing physical services and "39 Internet Hospital" offering remote medical care[33][37] - The medical AI product "39AI Doctor" has been fully implemented in outpatient and inpatient departments and is being promoted to B2B and B2C users[36][42][45] - Qisheng Information (39.net) faced a sharp decline in traditional advertising due to market shifts and is exploring new business models[41] - "39AI Doctor" has been upgraded to a large medical model with slow-thinking capabilities and won the "Best Treatment Plan Award" at the AI Human-Machine Competition of the China Brain Science Conference[45] Key Subsidiary Performance in the Medical Services + Internet Medical Services Segment | Subsidiary | Business Type | H1 2025 Revenue (10k Yuan) | YoY Change | H1 2025 Net Profit/Loss (10k Yuan) | YoY Change in Net Profit/Loss | | :--- | :--- | :--- | :--- | :--- | :--- | | Guiyang Sixth Hospital | Physical Hospital | 10,177.94 | -1.27% | Loss 645.35 | Loss narrowed by 43.88 | | 39 Internet Medical | Internet Medical Platform | 457.36 | -51.28% | Loss 150.22 | Relatively stable | | Qisheng Information (39.net) | Internet Medical Info Service | 3,152.54 | -13.73% | Profit 856.06 | Down 42.17% | | Pharmaceutical E-commerce | Pharma Distribution | 116,815.45 | +4.62% | Profit 3,324.99 | Relatively stable | (II) Telecommunications and Value-Added Services Business Segment This segment's mobile resale business saw a significant decline, while the IPTV business achieved a turnaround to profitability - The company holds a tri-network virtual operator license to provide mobile communication resale services[48] - Value-added telecom services include the IPTV smart home healthcare platform and the "Telephone Matchmaking" service, with the latter experiencing a gradual decline[51] - The mobile resale business suffered a sharp decline in revenue and net profit due to market conditions and stricter industry regulations[49][50] - Facing sluggish growth in paid IPTV users, Longmaster Video is exploring innovative models by enriching content and integrating "39AI Doctor"[53] Key Subsidiary Performance in the Telecom and Value-Added Services Segment | Subsidiary | Business Type | H1 2025 Revenue (10k Yuan) | YoY Change | H1 2025 Net Profit (10k Yuan) | YoY Change in Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | | Longmaster Communication | Mobile Resale | 1,379.91 | -63.41% | 387.81 | -64.01% | | Longmaster Video | Value-Added Telecom (IPTV) | 408.83 | -7.52% | 130.72 | Turnaround to profit | II. Core Competitiveness Analysis The company's core strengths lie in its deep understanding of healthcare, policy support, professional teams, and technological advantages in AI and internet medical services - The company adheres to the "Internet healthcare is essentially healthcare" principle, with over a decade of experience and a strategic focus on medical AI[54] - National policies supporting "Internet + Healthcare" and "AI+" create a favorable environment for the company's business development[55] - The company possesses a physical medical institution, Guiyang Sixth Hospital, and collaborates with renowned medical experts, accumulating vast healthcare data resources[56] - The company holds 180 authorized patents as of June 2025, and its self-developed "39AI General Practitioner" is the first large medical model in China to pass generative AI service registration[57] - In pharmaceutical distribution, the company has established a deep, wide-coverage, and high-quality marketing network within Guizhou province[60] - In value-added telecom services, the company has comprehensive management systems, core technology reserves, a tri-network mobile resale license, and professional teams[61] III. Main Business Analysis The company's main business faced challenges, with revenue and net profit declining, while financial expenses decreased significantly due to higher interest income YoY Changes in Key Financial Data | Item | Current Period (Yuan) | Prior Year Period (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 151,889,892.43 | 184,085,715.45 | -17.49% | | | Operating Costs | 101,859,058.10 | 115,974,005.60 | -12.17% | | | Financial Expenses | -2,071,367.95 | -955,153.04 | -116.86% | Primarily due to an increase in interest income | | Income Tax Expense | 1,542,549.03 | 3,560,905.08 | -56.68% | Primarily due to a decrease in total profit | | R&D Investment | 13,306,346.24 | 18,892,342.47 | -29.57% | Optimization of R&D personnel structure led to savings in employee compensation | | Net Cash Flow from Operating Activities | 14,659,181.55 | 12,051,430.25 | 21.64% | | | Net Cash Flow from Investing Activities | -1,014,113.21 | -6,468,761.91 | 84.32% | Primarily due to receiving dividends from the pharmaceutical e-commerce business | | Net Cash Flow from Financing Activities | -7,502,174.37 | -27,600,716.66 | 72.82% | Primarily due to the repayment of a bank loan by the Sixth Hospital in the prior period | | Net Increase in Cash and Cash Equivalents | 6,142,893.97 | -22,018,048.32 | 127.90% | Primarily due to receiving dividends and the prior period's loan repayment by the Sixth Hospital | Performance of Products/Services Accounting for Over 10% of Revenue | Product/Service | Operating Revenue (Yuan) | Operating Costs (Yuan) | Gross Margin | Revenue YoY Change | Cost YoY Change | Gross Margin YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | IPTV & Telephone Matchmaking | 2,804,454.34 | 201,672.57 | 92.81% | -44.62% | -65.47% | 4.34% | | Mobile Resale | 13,799,114.89 | 7,682,420.66 | 44.33% | -63.41% | -61.31% | -3.02% | | Medical Information Services | 31,100,197.73 | 7,933,244.45 | 74.49% | -13.10% | 123.49% | -15.59% | | Medical Services | 99,715,532.17 | 85,354,645.89 | 14.40% | -1.71% | -6.13% | 4.03% | | Medical AI Consulting Services | 211,002.58 | 9,715.09 | 95.40% | - | - | - | IV. Non-core Business Analysis Investment income from equity-method investees was the largest contributor to profit, though these non-core activities are not sustainable Non-core Business Analysis | Item | Amount (Yuan) | % of Total Profit | Reason | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 10,247,083.41 | 68.28% | Investment income from equity-method investees | Not sustainable | | Asset Impairment | 18,714.19 | 0.12% | Provision for inventory write-down | Not sustainable | | Non-operating Income | 34,294.85 | 0.23% | | Not sustainable | | Non-operating Expenses | 747,141.95 | 4.98% | Primarily settlement compensation expenses from the Sixth Hospital | Not sustainable | | Credit Impairment | 82,789.03 | 0.55% | Provision for bad debts on receivables | Not sustainable | | Other Income | 1,614,770.21 | 10.76% | Primarily prior-period government grants recognized in the current period | Not sustainable | V. Analysis of Assets and Liabilities The company's total assets and net assets remained stable, with no significant changes in major asset or liability items Significant Changes in Asset Composition | Item | End of Current Period (Yuan) | % of Total Assets | End of Prior Year (Yuan) | % of Total Assets | Change in % | Note on Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 290,412,473.90 | 21.99% | 283,539,885.31 | 21.38% | 0.61% | No significant change | | Accounts Receivable | 38,596,155.18 | 2.92% | 43,776,250.63 | 3.30% | -0.38% | No significant change | | Long-term Equity Investments | 428,406,995.59 | 32.44% | 425,019,912.18 | 32.05% | 0.39% | No significant change | | Fixed Assets | 424,601,642.71 | 32.15% | 428,388,483.84 | 32.30% | -0.15% | No significant change | | Total Assets | 1,320,814,988.03 | | 1,326,100,361.07 | | -0.40% | | | Net Assets Attributable to Shareholders | 1,089,217,963.64 | | 1,079,851,580.83 | | 0.87% | | - At the end of the reporting period, restricted cash and cash equivalents amounted to 777,089.64 Yuan, comprising performance bonds and judicially frozen funds[72] VI. Investment Status Analysis The company had no significant equity investments, non-equity investments, or other major investment activities during the period - The company had no significant equity investments, non-equity investments, financial assets measured at fair value, use of raised funds, entrusted wealth management, derivative investments, or entrusted loans during the reporting period[73][74][75][76][77] VII. Sale of Major Assets and Equity The company did not sell any major assets or equity during the reporting period - The company did not sell any major assets or equity during the reporting period[78][79] VIII. Analysis of Major Holding and Participating Companies The company has decided to liquidate its subsidiary Guizhou Laya due to long-term losses and a complete halt in production - Due to long-term losses and a complete halt in production of its smart wearable business, the company has decided to cease further investment in and plans to liquidate its holding subsidiary, Guizhou Laya[80] Performance of Major Holding and Participating Companies (H1 2025) | Company Name | Type | Main Business | Operating Revenue (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Guangzhou Qisheng Information Technology Co, Ltd | Subsidiary | Medical Information Services | 31,525,383.20 | 8,560,641.08 | | Guiyang Sixth Hospital Co, Ltd | Subsidiary | Medical Services | 101,779,387.40 | -6,453,516.26 | | Guizhou Laya Technology Co, Ltd | Subsidiary | Medical Device R&D/Sales | 545,773.28 | -104,235.80 | | Guiyang Longmaster Communication Technology Co, Ltd | Subsidiary | Communication Services | 13,799,114.89 | 3,878,084.36 | | Guiyang Longmaster Video Technology Co, Ltd | Subsidiary | Telecom & Value-Added Services | 4,088,257.66 | 1,307,226.35 | | Guiyang Pharmaceutical E-commerce Service Co, Ltd | Associate | Pharmaceutical Distribution | 1,168,154,457.90 | 33,249,853.76 | | Guiyang 39 Internet Medical Co, Ltd | Associate | Internet Medical Platform | 4,573,555.08 | -1,502,174.88 | IX. Structured Entities Controlled by the Company The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[82] X. Risks and Countermeasures The company faces risks from market competition, policy changes, and operational challenges, which it addresses through strategic focus and management optimization - The company faces intensified market competition, which it counters by strengthening medical AI R&D, enhancing synergy between internet medical services and AI products, and maintaining stable cash flow from telecom businesses[82] - Challenges in achieving large-scale profitability in internet healthcare are being addressed by strengthening inter-segment collaboration, expanding the "39AI Doctor" project, and controlling costs[83] - To mitigate uncertainty from industrial policy changes, the company closely monitors policy trends to ensure its "AI + Healthcare" and "Healthcare + Internet Medical" businesses remain aligned with national policies[84][85] - Operational risks from business expansion are managed by segmenting business units, improving management systems, strengthening internal controls, and optimizing organizational structure[86] - The risk of talent shortages in the competitive AI field is addressed through systematic talent development, continuous R&D investment, and providing an innovative platform[87] XI. Record of Investor Relations Activities The company held an online performance briefing in May 2025 to communicate its business status and plans to investors - On May 12, 2025, the company held its 2024 annual results online briefing via Panorama to update investors on its Q1 performance and business development plans[88] XII. Market Value Management and Valuation Enhancement Plans The company has not formulated a market value management system or disclosed a valuation enhancement plan - The company did not formulate a market value management system or disclose a valuation enhancement plan during the reporting period[89][90] XIII. Implementation of the "Dual Improvement in Quality and Returns" Action Plan The company has not disclosed an action plan for "Dual Improvement in Quality and Returns" - The company did not disclose a "Dual Improvement in Quality and Returns" action plan announcement during the reporting period[91][92] Section 4 Corporate Governance, Environmental, and Social I. Changes in Directors, Supervisors, and Senior Management There were no changes in the company's directors, supervisors, or senior management during the reporting period - There were no changes in the company's directors, supervisors, or senior management during the reporting period; details can be found in the 2024 annual report[94] II. Profit Distribution and Capitalization of Capital Reserves The company does not plan to distribute profits or capitalize capital reserves for the semi-annual period - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[95] III. Implementation of Equity Incentive Plans or Other Employee Incentives The company had no equity incentive plans or other employee incentive measures in place during the period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[96] IV. Environmental Information Disclosure The company and its main subsidiaries are not designated as enterprises required to disclose environmental information - The listed company and its main subsidiaries are not included in the list of enterprises required to disclose environmental information by law[97] V. Social Responsibility The company fulfills its social responsibility by advancing "Internet + Healthcare" and AI to provide accessible and high-quality medical services - The company is committed to combining "Big Data" and "Big Health" to meet the public's healthcare needs[97] - The company actively engages in targeted medical assistance, using "Internet + Healthcare" and big data to improve medical access in remote areas[97] - The company empowers primary healthcare institutions with its medical AI product "39AI Doctor" as part of its corporate social responsibility[97] Section 5 Important Matters I. Commitments by Controlling Shareholders and Other Related Parties There were no fulfilled or overdue commitments from the company's controlling shareholders or other related parties during the period - There were no commitments by the company's actual controller, shareholders, related parties, acquirers, or the company itself that were fulfilled or overdue during the reporting period[99] II. Non-operational Use of Funds by Controlling Shareholders There was no non-operational use of the company's funds by controlling shareholders or other related parties - There were no instances of non-operational use of the listed company's funds by controlling shareholders or other related parties during the reporting period[100] III. Irregular External Guarantees The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[101] IV. Appointment and Dismissal of Accounting Firm The company's semi-annual report has not been audited - The company's semi-annual report has not been audited[102] V. Explanation of "Non-standard Audit Report" for the Current Period This section is not applicable as there was no "non-standard audit report" for the current period - There is no explanation from the Board of Directors, Supervisory Committee, or Audit Committee regarding a "non-standard audit report" for the current period[103] VI. Explanation of "Non-standard Audit Report" for the Previous Year This section is not applicable as there was no "non-standard audit report" for the previous year - There is no explanation from the Board of Directors regarding a "non-standard audit report" for the previous year[103] VII. Bankruptcy and Reorganization Matters The company was not involved in any bankruptcy or reorganization matters during the period - The company was not involved in any bankruptcy or reorganization matters during the reporting period[104] VIII. Litigation Matters The company had no major litigation but was involved in several minor lawsuits as both plaintiff and defendant - The company had no major litigation or arbitration matters during the reporting period[105] Summary of Other Litigation Matters | Litigation (Arbitration) Details | Amount Involved (10k Yuan) | Provision Formed | Progress | Outcome and Impact | Judgment Enforcement | | :--- | :--- | :--- | :--- | :--- | :--- | | Other lawsuits as plaintiff (not meeting major litigation standards) | 8.6 | No | Accepted by court, hearing pending | Unresolved | Not adjudicated | | Other lawsuits as defendant (not meeting major litigation standards) | 174.7 | Yes, provision of 472.4k Yuan | Accepted by court, hearing pending | Unresolved | Not adjudicated | IX. Penalties and Rectifications The company was not subject to any penalties or rectifications during the period - The company was not subject to any penalties or rectifications during the reporting period[107] X. Integrity Status of the Company and Its Controlling Shareholders There were no integrity issues concerning the company or its controlling shareholders - There were no integrity issues concerning the company, its controlling shareholder, or its actual controller during the reporting period[108] XI. Major Related-Party Transactions The company engaged in routine related-party transactions involving procurement of goods, services, and joint investments Related-Party Transactions for Purchase of Goods/Services | Related Party | Transaction Content | Current Period Amount (Yuan) | Approved Credit Limit (Yuan) | Exceeded Limit | Prior Period Amount (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Guizhou Kangxin Pharmaceutical Co, Ltd | Pharmaceuticals & Medical Devices | 25,461,270.37 | 100,000,000.00 | No | 27,905,393.34 | | Guiyang 39 Internet Medical Co, Ltd | Website Maintenance & Labor | 36,278.00 | 20,000,000.00 | No | 9,000.00 | Related-Party Transactions for Sale of Goods/Services | Related Party | Transaction Content | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | :--- | | Guiyang 39 Internet Medical Co, Ltd | Other Services | 434,525.00 | 40,920.00 | Joint Investment Related-Party Transactions | Co-investor | Relationship | Investee Company | Main Business of Investee | Registered Capital of Investee | Net Profit of Investee (10k Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Wang Wei | Actual Controller | Guiyang 39 Internet Medical Co, Ltd | Internet Medical Services | 11.5151 million Yuan | -150.22 | | Guiyang Longmaster Medical Investment | Same Actual Controller | Guiyang 39 Internet Medical Co, Ltd | Internet Medical Services | 11.5151 million Yuan | -150.22 | - The company had no related-party transactions involving the acquisition or sale of assets or equity, no related-party debt, and no dealings with related financial companies[110][112][113][114][115] XII. Major Contracts and Their Performance The company has several ongoing property lease agreements and provides guarantees for its subsidiary, Guiyang Sixth Hospital - The company has multiple property lease contracts, including a terminated lease and a new lease signed in Beijing[118][119] - The company generated 625,600 Yuan in rental income from leasing out idle office space[119] - At the end of the reporting period, the total outstanding guarantee balance for subsidiaries was 19.9 million Yuan, representing 1.83% of the company's net assets[122][123] - The company had no custody, contracting, or other major contracts during the reporting period[116][117][124] Guarantees Provided to Subsidiaries | Guaranteed Party | Guarantee Limit (10k Yuan) | Actual Guarantee Amount (10k Yuan) | Start Date | End Date | Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Guiyang Sixth Hospital Co, Ltd | 10,000 | 2,500 | 2022-07-26 | 2025-07-13 | Yes | | Guiyang Sixth Hospital Co, Ltd | 10,000 | 1,990 | 2025-07-07 | 2028-07-06 | No | XIII. Other Significant Matters There were no other significant matters to be disclosed for the reporting period - The company has no other significant matters to disclose for the reporting period[125] XIV. Significant Matters of Subsidiaries Subsidiary Qisheng Information was re-certified as a high-tech enterprise, while the liquidation of Guizhou Laya is underway - The wholly-owned subsidiary Qisheng Information was re-certified as a high-tech enterprise, qualifying for a 15% corporate income tax rate from 2024 to 2026[126] - The liquidation and deregistration process for the holding subsidiary Guizhou Laya has been initiated, which is not expected to adversely affect the company's overall business or financial status[126][127] Section 6 Changes in Share Capital and Shareholders I. Changes in Share Capital The company's total share capital and share structure remained unchanged during the reporting period - The company's total number of shares, as well as the quantity and proportion of restricted and unrestricted shares, remained unchanged during the reporting period[130] - There were no changes in share capital due to new issuance, approvals, transfers, share buybacks, or other factors affecting financial indicators[130][131] Share Capital Structure (Unit: Shares) | Item | Pre-Change Quantity | Pre-Change Ratio | Change (+, -) | Post-Change Quantity | Post-Change Ratio | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 81,372,011 | 24.08% | 0 | 81,372,011 | 24.08% | | II. Unrestricted Shares | 256,569,391 | 75.92% | 0 | 256,569,391 | 75.92% | | III. Total Shares | 337,941,402 | 100.00% | 0 | 337,941,402 | 100.00% | II. Securities Issuance and Listing The company did not issue or list any new securities during the reporting period - The company did not issue or list any new securities during the reporting period[131] III. Number of Shareholders and Shareholdings At the end of the period, the company had 42,638 common shareholders, with the actual controller Wang Wei holding a 31.60% stake Total Number of Common Shareholders at Period-End | Indicator | Quantity | | :--- | :--- | | Total common shareholders at period-end | 42,638 | Top 10 Shareholders | Shareholder Name | Nature | Shareholding Ratio | Shares Held (Shares) | Change During Period (Shares) | Restricted Shares (Shares) | Unrestricted Shares (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wang Wei | Domestic Individual | 31.60% | 106,806,315 | -1,689,700 | 81,372,011 | 25,434,304 | | Liu Ling | Domestic Individual | 2.66% | 9,000,000 | 0 | 0 | 9,000,000 | | Guiyang Longmaster Investment | Domestic Non-SOE | 1.95% | 6,595,940 | -1,689,700 | 0 | 6,595,940 | | Xuanyuan Private Equity | Other | 1.28% | 4,320,100 | 0 | 0 | 4,320,100 | | Hong Kong Securities Clearing Co Ltd | Foreign Legal Entity | 0.57% | 1,913,740 | -216,476 | 0 | 1,913,740 | - The corporate shareholder Guiyang Longmaster Investment is controlled by the company's controlling shareholder and actual controller, Wang Wei, and they are parties acting in concert[133][134] - Shareholders Tang Dong and Yuan Tonghe hold some of their shares through margin trading and securities lending accounts[134] IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management Chairman and General Manager Wang Wei reduced his shareholding, while other executives' holdings remained unchanged Changes in Shareholdings of Directors, Supervisors, and Senior Management | Name | Position | Opening Balance (Shares) | Shares Reduced (Shares) | Closing Balance (Shares) | | :--- | :--- | :--- | :--- | :--- | | Wang Wei | Chairman, General Manager | 108,496,015 | 1,689,700 | 106,806,315 | V. Changes in Controlling Shareholder or Actual Controller There were no changes to the company's controlling shareholder or actual controller during the period - The company's controlling shareholder did not change during the reporting period[137] - The company's actual controller did not change during the reporting period[138] VI. Preferred Shares The company does not have any preferred shares - The company did not have any preferred shares during the reporting period[139] Section 7 Bond-related Matters Bond-related Matters The company had no bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[141] Section 8 Financial Report I. Audit Report The company's semi-annual financial report is unaudited - The company's semi-annual financial report has not been audited[143] II. Financial Statements This section presents the company's consolidated and parent company financial statements for the semi-annual period of 2025 - The financial statements include the Consolidated Balance Sheet, Parent Company Balance Sheet, Consolidated Income Statement, Parent Company Income Statement, Consolidated Cash Flow Statement, Parent Company Cash Flow Statement, Consolidated Statement of Changes in Equity, and Parent Company Statement of Changes in Equity[144][149][154][159][163][174] 1. Consolidated Balance Sheet As of June 30, 2025, the company's total consolidated assets were 1.32 billion Yuan, with total liabilities of 218.38 million Yuan 2. Parent Company Balance Sheet As of June 30, 2025, the parent company's total assets were 1.24 billion Yuan, with total liabilities of 44.37 million Yuan 3. Consolidated Income Statement For the first half of 2025, the company's consolidated total operating revenue was 151.89 million Yuan, with a net profit of 13.47 million Yuan 4. Parent Company Income Statement For the first half of 2025, the parent company's operating revenue was 7.40 million Yuan, with a net profit of 12.19 million Yuan 5. Consolidated Cash Flow Statement For the first half of 2025, the company's net cash flow from operating activities was 14.66 million Yuan 6. Parent Company Cash Flow Statement For the first half of 2025, the parent company's net cash flow from operating activities was -9.03 million Yuan 7. Consolidated Statement of Changes in Equity As of June 30, 2025, the company's total consolidated equity was 1.10 billion Yuan 8. Parent Company Statement of Changes in Equity As of June 30, 2025, the parent company's total equity was 1.20 billion Yuan III. Company Basic Information Guizhou Longmaster Information & Technology Co, Ltd was established in 2010 and operates in the computer application services industry - Guizhou Longmaster Information & Technology Co, Ltd was established through a corporate restructuring on November 1, 2010, with Wang Wei as the legal representative and actual controller[182][184] - The company's registered capital is 337.941402 million Yuan[184] - The company operates in the computer application services industry and consolidates 7 subsidiaries, with no change in the scope of consolidation from the previous period[184] IV. Basis of Preparation for Financial Statements The financial statements are prepared in accordance with China's Accounting Standards for Business Enterprises on a going concern basis - The financial statements are prepared in accordance with the "Accounting Standards for Business Enterprises" issued by the Ministry of Finance and relevant CSRC disclosure rules[185][186] - These financial statements have been prepared on a going concern basis, as no significant doubts about the company's ability to continue as a going concern were identified for the next 12 months[187] V. Significant Accounting Policies and Estimates This section details the company's significant accounting policies and estimates, which remained unchanged during the period - The financial statements comply with the requirements of the Accounting Standards for Business Enterprises, providing a true and fair view of the company's financial position and performance[189] - The company uses a 12-month operating cycle for classifying assets and liabilities and uses the Renminbi (RMB) as its functional currency[191][192] - Revenue from primary sources such as value-added telecom services and medical services is recognized when control of the related goods or services is transferred to the customer[297][298] - There were no significant changes in accounting policies or estimates during the reporting period[323] VI. Taxation The company and several subsidiaries are certified as high-tech enterprises, qualifying for a reduced 15% corporate income tax rate Main Taxes and Rates | Tax Type | Tax Base | Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Sales of goods, taxable service income | 1%, 3%, 5%, 6%, 9%, 13% | | Urban Maintenance and Construction Tax | Payable turnover tax | 7% | | Education Surcharge | Payable turnover tax | 3% | | Local Education Surcharge | Payable turnover tax | 2% | | Cultural Undertaking Development Fee | Advertising revenue | 3% | Entities with Different Corporate Income Tax Rates | Taxpayer Name | Income Tax Rate | | :--- | :--- | | The Company | 15% | | Guangzhou Qisheng Information Technology Co, Ltd | 15% | | Guiyang Longmaster Communication Technology Co, Ltd | 15% | | Guiyang Sixth Hospital Co, Ltd | 25% | | Guangzhou Zhiben Information Technology Co, Ltd | 25% | | Guizhou Laya Technology Co, Ltd | 25% | | Guiyang Longmaster Video Technology Co, Ltd | 25% | | Tianjin Yinxun Shidai Technology Co, Ltd | 25% | - The company, Guangzhou Qisheng, and Guiyang Longmaster Communication are certified high-tech enterprises and are subject to a 15% corporate income tax rate in 2025[324] VII. Notes to Consolidated Financial Statement Items This section provides detailed notes on key items in the consolidated financial statements, reflecting the company's financial position and performance Cash and Cash Equivalents | Item | Closing Balance (Yuan) | Opening Balance (Yuan) | | :--- | :--- | :--- | | Cash on Hand | 7,879.68 | 6,695.18 | | Bank Deposits | 289,953,182.68 | 282,729,277.92 | | Other Monetary Funds | 451,411.54 | 803,912.21 | | Total | 290,412,473.90 | 283,539,885.31 | Accounts Receivable | Aging | Closing Book Balance (Yuan) | Opening Book Balance (Yuan) | | :--- | :--- | :--- | | Within 1 year | 36,975,069.65 | 42,448,900.50 | | 1 to 2 years | 1,376,371.98 | 1,683,656.14 | | 2 to 3 years | 1,018,843.27 | 271,444.79 | | Over 3 years | 1,816,305.97 | 2,074,763.06 | | Total | 41,186,590.87 | 46,478,764.49 | Operating Revenue and Costs | Item | Current Period Revenue (Yuan) | Current Period Costs (Yuan) | Prior Period Revenue (Yuan) | Prior Period Costs (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 147,908,865.66 | 101,641,310.71 | 180,972,614.18 | 115,639,562.32 | | Other Business | 3,981,026.77 | 217,747.39 | 3,113,101.27 | 334,443.28 | | Total | 151,889,892.43 | 101,859,058.10 | 184,085,715.45 | 115,974,005.60 | Financial Expenses | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Interest Expense | 754,119.20 | 887,983.20 | | Less: Interest Income | -2,934,602.29 | -2,009,052.82 | | Service Fees | 109,115.14 | 165,916.58 | | Total | -2,071,367.95 | -955,153.04 | Investment Income | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Long-term equity investment income under equity method | 10,247,083.41 | 10,727,927.78 | | Total | 10,247,083.41 | 10,727,927.78 | VIII. R&D Expenditures Total R&D expenditure for the period was 13.31 million Yuan, a decrease of 29.57% year-over-year, with all expenses being expensed R&D Expenditure Breakdown | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Employee Compensation | 11,324,672.36 | 16,710,504.85 | | Rental Fees | 708,463.72 | 781,365.46 | | Depreciation | 360,539.07 | 264,901.69 | | Intellectual Property Fees | 149,504.16 | 142,002.83 | | Others | 736,465.10 | 958,545.10 | | Total | 13,306,346.24 | 18,892,342.47 | - All R&D expenditures in the current period were expensed, with no capitalized R&D expenditures[493] IX. Changes in the Scope of Consolidation There were no changes in the company's scope of consolidation during the period - There were no changes in the company's scope of consolidation during the current period[494] X. Interests in Other Entities The company has seven subsidiaries and two significant associate companies Composition of the Corporate Group (Subsidiaries) | Subsidiary Name | Registered Capital (Yuan) | Business Nature | Shareholding (Direct) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | | Guangzhou Qisheng Information Technology Co, Ltd | 10,638,300.00 | Internet and Related Services | 100.00% | Business Combination | | Guiyang Sixth Hospital Co, Ltd | 205,882,353.00 | Medical | 66.00% | Business Combination | | Guiyang Longmaster Communication Technology Co, Ltd | 10,000,000.00 | Communication Services | 75.00% | Establishment | | Guizhou Laya Technology Co, Ltd | 11,360,000.00 | Medical Device R&D/Sales | 85.00% | Business Combination | | Guiyang Longmaster Video Technology Co, Ltd | 10,000,000.00 | Value-Added Telecom Services | 79.30% | Establishment | Significant Non-wholly Owned Subsidiaries | Subsidiary Name | Minority Interest Ratio | Current Period P/L Attributable to Minority (Yuan) | Dividends Declared to Minority (Yuan) | Closing Minority Equity Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Guiyang Sixth Hospital Co, Ltd | 34.00% | -2,194,195.53 | 0.00 | -10,750,708.67 | | Guiyang Longmaster Communication Technology Co, Ltd | 25.00% | 969,521.09 | 1,950,000.00 | 25,333,855.48 | Significant Associate Companies | Associate Company Name | Business Nature | Shareholding (Direct) | Accounting Method | | :--- | :--- | :--- | :--- | | Guiyang Pharmaceutical E-commerce Service Co, Ltd | Pharmaceutical Services | 34.30% | Equity Method | | Guiyang 39 Internet Medical Co, Ltd | Medical | 22.11% | Equity Method | XI. Government Grants The company recognized 1.53 million Yuan in government grants in the current period's profit and loss Liabilities Related to Government Grants | Account | Opening Balance (Yuan) | New Grants (Yuan) | Recognized in Non-op Income (Yuan) | Recognized in Other Income (Yuan) | Closing Balance (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Revenue | 700,000.00 | 0.00 | 0.00 | 0.00 | 700,000.00 | Asset-related | | Deferred Revenue | 4,700,000.00 | 0.00 | 0.00 | 1,500,000.00 | 3,200,000.00 | Income-related | Government Grants Recognized in Current Profit/Loss | Account | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Other Income | 1,534,554.46 | 704,155.17 | XII. Risks Related to Financial Instruments The company manages financial risks, including credit, liquidity, and market risks, through established policies and continuous monitoring - The company's main financial instruments include cash, equity investments, debt investments, borrowings, receivables, and payables, exposing it to credit, liquidity, and market risks[510] - The company mitigates credit risk by transacting only with creditworthy counterparties, continuously monitoring exposures, and maintaining adequate provisions for expected credit losses[511][512] - Liquidity risk is managed by monitoring short-term and long-term funding needs, maintaining sufficient cash reserves, and securing adequate credit facilities from financial institutions[514] - The company's interest rate risk arises mainly from bank borrowings; management actively adjusts its strategy based on market conditions to mitigate both cash flow and fair value interest rate risks[515] XIII. Related Parties and Transactions The company's ultimate controlling party is Wang Wei, and it engages in routine transactions with its subsidiaries and associate companies - The company's ultimate controlling party is the individual Wang Wei[517][518] - Details of the company's subsidiaries and significant associates are provided in Note X[519][520] Purchase of Goods/Services (Related-Party Transaction) | Related Party | Transaction Content | Current Period Amount (Yuan) | Approved Credit Limit (Yuan) | Exceeded Limit | Prior Period Amount (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Guizhou Kangxin Pharmaceutical | Pharmaceuticals & Medical Devices | 25,461,270.37 | 100,000,000.00 | No | 27,905,393.34 | | Guiyang 39 Internet Medical | Website Maintenance & Labor | 36,278.00 | 20,000,000.00 | No | 9,000.00 | Sale of Goods/Services (Related-Party Transaction) | Related Party | Transaction Content | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | :--- | | Guiyang 39 Internet Medical | Other Services | 434,525.00 | 40,920.00 | Company as Lessor (Related-Party Lease) | Lessee Name | Leased Asset Type | Current Period Lease Income (Yuan) | Prior Period Lease Income | | :--- | :--- | :--- | :--- | | Guizhou Kangxin Pharmacy Chain | Property | 14,285.71 | 0.00 | Company as Guarantor (Related-Party Guarantee) | Guaranteed Party | Guarantee Amount (Yuan) | Start Date | End Date | Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Guiyang Sixth Hospital | 25,000,000.00 | 2022-07-14 | 2025-07-13 | No | Key Management Personnel Compensation | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Compensation for Directors, Supervisors, and Senior Management | 2,022,956.00 | 2,492,411.46 | Receivables from Related Parties | Item Name | Related Party | Closing Book Balance (Yuan) | Opening Book Balance (Yuan) | | :--- | :--- | :--- | :--- | | Accounts Receivable | Guiyang 39 Internet Medical Co | 10,862.00 | 70,862.00 | Payables to Related Parties | Item Name | Related Party | Closing Book Balance (Yuan) | Opening Book Balance (Yuan) | | :--- | :--- | :--- | :--- | | Accounts Payable | Guiyang 39 Internet Medical Co | 2,246,098.63 | 3,137,098.63 | | Accounts Payable | Guizhou Kangxin Pharmaceutical Co, Ltd | 75,645,837.76 | 78,752,322.77 | | Other Payables | Guiyang 39 Internet Medical Co | 2,698.97 | 2,698.97 | | Contract Liabilities | Guiyang 39 Internet Medical Co | 140,625.00 | 34,734.13 | XIV. Commitments and Contingencies The company has no significant commitments or contingencies to disclose for the reporting period - The company has no significant contingencies to disclose[534][535][537] XV. Subsequent Events The company has no significant subsequent events to disclose - The company has no other significant undisclosed subsequent events[538] XVI. Other Important Matters This section provides financial information for the discontinued operation, Guizhou Laya, and segment reporting by business unit - The company reports by segments including value-added telecom, medical information services, medical, and others, managing each business unit's operations independently[542] Discontinued Operation (Guizhou Laya Technology Co, Ltd) | Item | Revenue (Yuan) | Expenses (Yuan) | Profit Before Tax (Yuan) | Income Tax Expense (Yuan) | Net Profit (Yuan) | Net Profit Attributable to Parent (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Guizhou Laya Technology Co, Ltd | 545,773.28 | 669,437.28 | -104,578.22 | -342.42 | -104,235.80 | -88,600.43 | Segment Financial Information (Operating Revenue) | Item | Value-Added Telecom (Yuan) | Medical Info Services (Yuan) | Medical (Yuan) | Other (Yuan) | Inter-segment Elim. (Yuan) | Total (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 25,284,054.17 | 31,525,383.20 | 101,779,387.40 | 545,773.28 | 7,244,705.62 | 151,889,892.43 | XVII. Notes to Parent Company Financial Statement Items This section provides detailed notes on key items in the parent company's financial statements Parent Company Accounts Receivable | Aging | Closing Book Balance (Yuan) | Opening Book Balance (Yuan) | | :--- | :--- | :--- | | Within 1 year | 3,024,527.64 | 3,820,675.93 | | 1 to 2 years | 29,178.10 | 611,250.56 | | 2 to 3 years | 187,044.24 | 0.00 | | Total | 3,240,749.98 | 4,431,926.49 | Parent Company Other Receivables | Item | Closing Balance (Yuan) | Opening Balance (Yuan) | | :--- | :--- | :--- | | Interest Receivable | 42,283,539.48 | 46,235,548.05 | | Dividends Receivable | 60,000,000.00 | 60,000,000.00 | | Other Receivables | 23,459,577.53 | 23,104,607.53 | | Total | 125,743,117.01 | 129,340,155.58 | Parent Company Operating Revenue and Costs | Item | Current Period Revenue (Yuan) | Current Period Costs (Yuan) | Prior Period Revenue (Yuan) | Prior Period Costs (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 6,393,696.02 | 5,091,464.82 | 12,268,172.80 | 9,379,399.67 | | Other Business | 1,002,985.60 | 0.00 | 1,460,226.31 | 0.00 | | Total | 7,396,681.62 | 5,091,464.82 | 13,728,399.11 | 9,379,399.67 | Parent Company Investment Income | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Long-term equity investment income under cost method | 5,850,000.00 | 31,425,000.00 | | Long-term equity investment income under equity method | 10,247,083.41 | 10,727,927.78 | | Fee for use of funds | 4,403,403.75 | 4,290,775.63 | | Total | 20,500,487.16 | 46,443,703.41 | XVIII. Supplementary Information This section provides details on non-recurring profit and loss items and return on equity metrics Details of Current Non-recurring Profit and Loss | Item | Amount (Yuan) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 23,176.91 | Loss on retirement of fixed assets | | Government Grants Recognized in Current Profit/Loss | 1,614,770.21 | Primarily prior-period grants recognized in the current period and current-period grants recognized | | Other Non-operating Income and Expenses | -736,024.01 | Primarily settlement compensation expenses from the Sixth Hospital | | Less: Income Tax Impact | 239,598.67 | | | Minority Interest Impact (After Tax) | 87,512.41 | | | Total | 574,812.03 | -- | Return on Equity and Earnings Per Share | Profit for the Period | Weighted Average ROE | Basic EPS (Yuan/Share) | Diluted EPS (Yuan/Share) | | :--- | :--- | :--- | :--- | | Net profit attributable to common shareholders | 1.33% | 0.04 | 0.04 | | Net profit attributable to common shareholders (excl non-recurring items) | 1.28% | 0.04 | 0.04 | - The company has no other items that meet the definition of non-recurring profit and loss, nor has it reclassified any non-recurring items as recurring[595][596] - The company has no differences in accounting data under domestic and foreign accounting standards[597][598]