广电计量(002967) - 2025 Q2 - 季度财报

Important Notes, Table of Contents, and Definitions This section provides essential disclaimers, lists the report's structure, and defines key terms for clarity Important Notes The Board of Directors, Supervisory Board, and senior management guarantee the report's accuracy and completeness, while outlining forward-looking statements and key risks - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false statements, misleading representations, or major omissions[4] - Company head Yang Wenfeng, chief accountant Xi Xingping, and head of accounting department Li Liting declare the financial report's truthfulness, accuracy, and completeness[4] - The company faces risks including "risks to company credibility, brand, and reputation from adverse events", "risks of policy and industry standard changes", "risks of intensified market competition", "risks of key employee turnover", "management risks due to rapid business expansion", and "asset impairment risks"[5] - The profit distribution plan approved by this Board of Directors meeting is to distribute a cash dividend of 1.5 yuan (tax inclusive) per 10 shares to all shareholders, with no bonus shares or capital reserve conversions[5] Table of Contents This section lists the report's nine main chapters and their starting page numbers, covering company operations, finance, governance, and significant matters - The report comprises nine main chapters, covering various aspects such as company operations, finance, governance, and significant matters[8] Definitions This section defines common terms used in the report, including company names, key related parties, regulatory bodies, financial units, and reporting periods - "GRG Metrology/Company" refers to GRG Metrology & Test Group Co, Ltd[12] - "Reporting Period" refers to January 1, 2025, to June 30, 2025[13] - Definitions are provided for key related parties and regulatory bodies, including Guangzhou Digital Technology Group, Guangzhou SASAC, CSRC, and SZSE[12][13] Company Profile and Key Financial Indicators This section provides an overview of the company, its contact information, and a summary of its key financial performance and position for the reporting period Company Profile GRG Metrology & Test Group Co, Ltd is listed on the Shenzhen Stock Exchange under stock code 002967, with Yang Wenfeng as its legal representative - The company's stock abbreviation is "GRG Metrology", stock code "002967", listed on the Shenzhen Stock Exchange[15] - The company's legal representative is Yang Wenfeng[15] Contacts and Contact Information The company's Board Secretary Shi Zongfei and Securities Affairs Representative Su Zhenliang share the same contact details, including address, phone, fax, and email - Board Secretary Shi Zongfei and Securities Affairs Representative Su Zhenliang have identical contact information, including address, phone, fax, and email[16] Other Information During the reporting period, there were no changes in the company's contact information, information disclosure, or document storage locations, with details available in the 2024 annual report - The company's registered address, office address, website, email, and other contact information remained unchanged during the reporting period[17] - Information disclosure and document storage locations remained unchanged during the reporting period[18] Key Accounting Data and Financial Indicators In the first half of 2025, operating revenue grew by 10.01% to 1.478 billion yuan, and net profit attributable to shareholders increased by 22.11% to 97.32 million yuan, while net cash flow from operating activities decreased by 50.67% Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (yuan) | Prior Period (yuan) | Year-over-year change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,478,250,677.63 | 1,343,694,352.40 | 10.01 | | Net Profit Attributable to Shareholders of the Listed Company | 97,315,777.07 | 79,695,871.83 | 22.11 | | Net Profit Attributable to Shareholders of the Listed Company (Excluding Non-recurring Gains and Losses) | 83,443,872.10 | 66,043,462.75 | 26.35 | | Net Cash Flow from Operating Activities | 78,895,593.80 | 159,918,712.62 | -50.67 | | Basic Earnings Per Share (yuan/share) | 0.17 | 0.14 | 21.43 | | Diluted Earnings Per Share (yuan/share) | 0.17 | 0.14 | 21.43 | | Weighted Average Return on Net Assets | 2.90% | 2.21% | 0.69% | | Period-end Indicators | Current Period-end (yuan) | Prior Year-end (yuan) | Period-end vs. Prior Year-end Change (%) | | Total Assets | 6,320,068,634.39 | 6,554,677,297.80 | -3.58 | | Net Assets Attributable to Shareholders of the Listed Company | 3,358,623,204.35 | 3,335,918,962.36 | 0.68 | Differences in Accounting Data Under Domestic and Overseas Accounting Standards The company reported no differences in net profit and net assets between financial statements prepared under international or overseas accounting standards and Chinese accounting standards during the reporting period - The company's financial reports for the reporting period show no differences in net profit and net assets between International Accounting Standards and Chinese Accounting Standards[21] - The company's financial reports for the reporting period show no differences in net profit and net assets between overseas accounting standards and Chinese Accounting Standards[22] Non-recurring Gains and Losses and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to 13.87 million yuan, primarily from disposal of non-current assets, government grants, and fair value changes of financial assets Non-recurring Gains and Losses for H1 2025 | Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 914,969.85 | | Government grants recognized in current profit or loss | 12,726,814.43 | | Gains or losses from changes in fair value and disposal of financial assets and liabilities | 618,180.47 | | Gains or losses from entrusted investments or asset management | 1,436,051.00 | | Other non-operating income and expenses | 836,191.08 | | Other non-recurring gains and losses (accumulated VAT additional deduction) | 19,261.97 | | Less: Income tax impact | 2,489,456.07 | | Minority interest impact (after tax) | 190,107.76 | | Total | 13,871,904.97 | Management Discussion and Analysis This section details the company's business operations, core competencies, financial performance, investment activities, and risk management strategies during the reporting period Main Businesses Engaged in by the Company During the Reporting Period The company continuously optimizes its business structure, focusing on strategic industries like special sectors, automotive, new energy, and AI, providing "one-stop" quality assurance technical services - The company continuously adjusts its business structure, focusing on national strategic and technological innovation industries such as special sectors, automotive, new energy, integrated circuits, commercial aerospace, communications, low-altitude economy, and artificial intelligence[33] - The company provides "one-stop" quality assurance technical services including metrology, reliability and environmental testing, integrated circuit testing and analysis, electromagnetic compatibility testing, material and chemical analysis, software testing, cybersecurity and data governance, simulation testing, health management, and scientific research consulting[33] - The company adapts to the trends of intelligence and unmanned operations, deepening its light-asset business layout, shifting from a focus on physical testing to comprehensive technical services encompassing physical testing, digital services, and chemical testing, thereby increasing the proportion of digital and light-asset businesses[33] Business Overview The company focuses on national strategic industries, offering diverse metrology and testing services, with the industry trending towards consolidation and specialization, driven by rapid growth in downstream sectors - In 2024, the national inspection and testing industry revenue reached 487.60 billion yuan, a 4.41% year-over-year increase; emerging sector business revenue was 98.48 billion yuan, a 4.24% year-over-year increase, accounting for 20.20% of total revenue[28] - The company's business focuses on national strategic and technological industries such as special sectors, automotive, new energy, integrated circuits, commercial aerospace, communications, low-altitude economy, and artificial intelligence[33] - The company's data science analysis and evaluation business continues to maintain high growth, becoming a new growth point[33] Industry Overview The inspection and testing service industry saw stable growth in 2024, with increasing specialization and consolidation, while rapidly developing downstream sectors like new energy vehicles and low-altitude economy offer significant growth opportunities - By the end of 2024, there were 53,057 inspection and testing institutions nationwide, a 1.44% decrease from the end of 2023, marking the first decline in nearly 20 years and indicating an industry consolidation trend[28] - Both new energy vehicle penetration and L2 and above assisted driving penetration exceeded 50%, indicating the automotive industry's shift to "electric-first" and sustained high growth in electrification[31] - The low-altitude economy has entered a rapid development phase, with national policies supporting the improvement of regulatory systems and fostering low-altitude consumption such as low-altitude tourism, aerial sports, and consumer-grade drones[31] Company Business Overview In 2025, the company continues to refine its business structure, focusing on national strategic industries by providing "one-stop" quality assurance technical services and expanding its digital and light-asset business footprint - The company provides physical and digital quality and safety technical assurance throughout the entire lifecycle of high-end equipment, including design, R&D, production, use, and maintenance[33] - The company's data science analysis and evaluation business continues to maintain high growth and has become a new growth point for the company[33] - The company holds operational qualifications such as CMA, CNAS, CATL, and special industry certifications, establishing a nationwide technical service and business marketing system[34] Metrology Services As a leading third-party metrology institution, the company offers precision measurement services across ten professional fields, benefiting from national policies that support metrology innovation in strategic industries - The company has become one of the largest third-party metrology institutions in China with the broadest service market coverage and most comprehensive service qualifications, covering ten professional metrology fields including electromagnetics, radio, and time-frequency[35] - The Ministry of Industry and Information Technology issued the "Opinions on Promoting Innovative Development of Metrology in Manufacturing", and the State Administration for Market Regulation and the Ministry of Industry and Information Technology issued the "Action Plan for Metrology Supporting the Development of New Quality Productive Forces (2025-2030)", both requiring strengthened metrology support for key industries such as new-generation information technology and artificial intelligence[35][36] Testing Services The company's testing services encompass reliability and environmental testing, integrated circuit testing, EMC testing, and life sciences, maintaining technological leadership in special equipment, automotive, new energy, and commercial aerospace sectors - The company is one of the largest reliability and environmental testing service providers in China, maintaining technological leadership and customer recognition in special equipment, automotive, new energy, and commercial aerospace industries[39] - Integrated circuit testing and analysis is an emerging industry area where the company continuously invests and cultivates, offering services such as DPA, FA, MA, and AEC-Q certification testing[40] - Electromagnetic compatibility testing capabilities include system-level EMC testing for subsystems, components, and complete vehicles, machines, ships, and vessels composed of multiple products or equipment[41] - Life sciences business includes chemical analysis, food testing, and ecological environment testing, providing technical support for product green environmental control, food safety, and environmental safety[42][43][44][45] Data Science Analysis and Evaluation The company offers cybersecurity, software testing, AI testing, and digitalization services, leveraging its DCMM capabilities to support industry digital transformation and data element value realization - The company provides technical services such as cybersecurity, software testing, artificial intelligence testing (AI ecosystem verification, human-machine ergonomics evaluation), and digitalization services[46] - The company is one of 12 Data Management Capability Maturity Model (DCMM) assessment institutions of the China Electronics and Information Industry Federation, possessing ample DCMM capabilities[46] - The company builds data element metrology and evaluation, and data full lifecycle management assessment and consulting service capabilities for emerging technologies such as artificial intelligence, IoT, cloud computing, digital twins, and big data[46] EHS Evaluation Services Through its subsidiary Zhong'an Guangyuan, the company provides EHS evaluation services, including safety, environmental impact, and occupational health assessments, ensuring project compliance with national standards and regulations - The company's EHS evaluation services are primarily provided by its controlled subsidiary Zhong'an Guangyuan, including safety evaluation, environmental impact assessment, and occupational health evaluation[47] - EHS evaluation services aim to assess safety, environmental, and occupational health issues in construction projects based on evaluation guidelines and other standards, determining compliance with national laws, regulations, and industry standards[47] Other Businesses Beyond core services, the company engages in reference material R&D, safety testing, system certification, and technical training, aiming to build a "one-stop" metrology and testing service platform and focus on the entire reference material industry chain - The company develops businesses such as reference material R&D, production and sales, safety testing, system certification, technical training, and consulting, centered around its "one-stop" comprehensive metrology and testing technical service capability[48] - The company independently develops over 200,000 types of reference materials and consumables, covering various application fields such as food, environment, clinical, pharmaceutical, health products, cosmetics, industrial products, electronics, and semiconductors[48] [Operating Overview](index=13&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E7%BB%8F%E8%90%A5%E6%A6%82%E8%BF%