纵横通信(603602) - 2025 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2025 was approximately ¥797.49 million, a decrease of 12.12% compared to the same period last year[21]. - Total profit for the reporting period was approximately ¥13.95 million, down 40.15% year-on-year, primarily due to increased period expenses[21]. - Net profit attributable to shareholders of the listed company increased by 45.81% year-on-year to approximately ¥11.74 million[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 81.75% to approximately ¥514.08 thousand[21]. - The net cash flow from operating activities was approximately -¥113.89 million, an improvement from -¥220.70 million in the previous year[21]. - The company reported a net profit of ¥14,597,892.68 for the first half of the year, a decrease of 38.08% compared to ¥23,574,316.48 in the same period last year[26]. - The total comprehensive income for the first half of 2025 was CNY 26,960,694.45, a decrease of CNY 5,909,529.32 compared to the previous period[99]. Assets and Liabilities - The company's total assets at the end of the reporting period were approximately ¥2.37 billion, an increase of 1.82% from the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were approximately ¥1.04 billion, a slight increase of 0.32% from the previous year[21]. - Cash and cash equivalents decreased by 31.10% to ¥217.33 million, down from ¥315.42 million last year, primarily due to increased business investments[42]. - Inventory increased by 42.19% to ¥286.37 million, compared to ¥201.40 million last year, mainly due to increased stockpiling[42]. - Short-term borrowings rose by 31.10% to ¥717.67 million from ¥547.42 million, attributed to increased bank loans[42]. - The company's total liabilities reached ¥1,314,570,887.48, compared to ¥1,276,540,242.35, marking an increase of around 3.0%[90]. Revenue Sources - The decline in revenue from the 5G new infrastructure business was 27.58%, contributing to the overall decrease in operating revenue[21]. - The 5G new infrastructure business generated revenue of 199 million RMB, down 27.58% year-on-year, with key projects worth nearly 1 billion RMB awarded in major provinces[34]. - The full-domain digital marketing service business reported revenue of 515 million RMB, contributing significantly to profitability through AI model technology applications[34]. - The telecommunications industry saw a total revenue of ¥9,055 billion in the first half of 2025, with a year-on-year growth of 1%[32]. Business Strategy and Focus - The company is focusing on three main business areas: digital infrastructure, digital marketing, and low-altitude economy, leveraging technologies like AI and big data[29][30]. - The company is actively involved in 5G infrastructure projects, which are primarily acquired through public bidding[29]. - The company is developing high-safety airborne avionics control systems for eVTOL and large drones, focusing on compliance with civil aviation regulations[30][31]. - The low-altitude economy business is expected to enhance local economic development through the establishment of low-altitude management platforms[31]. Expenses and Financial Management - Sales expenses surged by 204.23% to 29.48 million RMB, primarily due to increased service fees for sales platforms[39]. - Financial expenses rose by 86.99% to 20.54 million RMB, mainly due to increased foreign currency borrowing exchange losses[40]. - Research and development expenses increased by 2.78% to 35.66 million RMB, reflecting the company's commitment to innovation[39]. Shareholder Information - The company plans to distribute a cash dividend of 0.20 yuan per share (before tax) to all shareholders, with no stock bonus or capital increase proposed, pending shareholder approval[58]. - The total number of unrestricted circulating shares reached 229,338,293, representing 100% of the total shares[73]. - The largest shareholder, Su Weifeng, holds 62,284,331 shares, accounting for 27.16% of the total shares[78]. Corporate Governance and Compliance - The company will adhere to fair trading practices and avoid conflicts of interest with its subsidiaries[64]. - The company will ensure compliance with corporate governance regulations to protect minority shareholders' interests[64]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[123]. Accounting Policies - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and performance[125]. - The company recognizes revenue based on the performance obligations identified in contracts, either over time or at a point in time, depending on specific criteria[190]. - The company applies a simplified approach for short-term leases and low-value asset leases, recognizing them as such if they meet specific criteria[200].