科创信息(300730) - 2025 Q2 - 季度财报

Section I Important Notes, Table of Contents, and Definitions This section provides crucial disclaimers, the report's structural overview, and key term definitions for clarity Important Notes The company's board and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's board and senior management guarantee the semi-annual report's truthfulness, accuracy, completeness, and assume legal responsibility[5] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[6] Table of Contents This section lists the report's overall structure, covering company profile, financial indicators, MD&A, governance, and financial reports List of Reference Documents Reference documents include signed financial statements and originals of all publicly disclosed company documents from the reporting period - Reference documents include financial statements signed and sealed by the company's legal representative, chief accountant, and head of the accounting department[10] - Originals of all publicly disclosed company documents and announcements during the reporting period are also included as reference documents[11] Definitions This section defines common terms used in the report, ensuring accurate understanding of its content - "Company", "the Company", and "Creator Information" all refer to Hunan Creator Information Technology Co, Ltd[13] - Multiple subsidiary names and their abbreviations, such as Creator Integration and Jiangxi Chain Creator, are listed[13] - "Reporting Period" is defined as January 1, 2025, to June 30, 2025[13] Section II Company Profile and Key Financial Indicators This section provides an overview of the company and its key financial performance metrics for the reporting period Company Profile Hunan Creator Information Technology Co, Ltd (stock code: 300730) is listed on the Shenzhen Stock Exchange, with Fei Yaoping as its legal representative - Company stock abbreviation: Creator Information, stock code: 300730[15] - The company is listed on the Shenzhen Stock Exchange, and its legal representative is Fei Yaoping[15] Contact Persons and Information The company's Board Secretary is Zhang Yuanmei, and Securities Affairs Representative is Zhang Yuhong, both located in Changsha - The Board Secretary is Zhang Yuanmei, and the Securities Affairs Representative is Zhang Yuhong[16] - Contact address: No. 678 Qingshan Road, Yuelu District, Changsha City, phone: 0731-82068690, email: creator@chinacreator.com[16] Other Information No changes occurred in the company's contact or disclosure information, but its registration status changed during the period - The company's registered address, office address, website, and email remained unchanged during the reporting period[17] - Information disclosure and document storage locations remained unchanged during the reporting period[18] - The company's registration status changed during the reporting period, with the period-end registration date being June 17, 2025, in Changsha, Hunan Province[20] Key Accounting Data and Financial Indicators Operating revenue decreased by 53.01%, net loss attributable to shareholders expanded by 27.51%, and total assets declined Key Accounting Data and Financial Indicators (Consolidated Statements) | Indicator | Current Period (Yuan) | Prior Period (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 54,064,509.07 | 115,067,083.14 | -53.01% | | Net Profit Attributable to Shareholders | -51,049,945.23 | -40,036,304.83 | -27.51% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | -51,034,463.38 | -40,380,915.72 | -26.38% | | Net Cash Flow from Operating Activities | -100,603,088.24 | -125,208,643.79 | 19.65% | | Basic EPS (Yuan/Share) | -0.21 | -0.17 | -23.53% | | Diluted EPS (Yuan/Share) | -0.21 | -0.17 | -23.53% | | Weighted Average ROE | -17.97% | -11.46% | -6.51% | | Indicator | Period-End (Yuan) | Prior Year-End (Yuan) | Period-End vs Prior Year-End Change | | :--- | :--- | :--- | :--- | | Total Assets | 767,474,023.74 | 799,084,503.11 | -3.96% | | Net Assets Attributable to Shareholders | 258,461,820.44 | 309,511,765.67 | -16.49% | Differences in Accounting Data Under Domestic and Overseas Accounting Standards The company reported no differences in net profit and net assets between financial reports prepared under various accounting standards - The company reported no differences in net profit and net assets between IFRS and Chinese accounting standards during the reporting period[22] - The company reported no differences in net profit and net assets between overseas accounting standards and Chinese accounting standards during the reporting period[23] Non-Recurring Gains and Losses and Amounts Total non-recurring losses were -15,481.85 yuan, while certain recurring items were reclassified due to their operational nature Non-Recurring Gains and Losses and Amounts | Item | Amount (Yuan) | Description | | :--- | :--- | :--- | | Disposal Gains/Losses of Non-Current Assets | -38,268.00 | | | Government Grants Recognized in Current P&L (Excluding Recurring) | 46.37 | | | Other Non-Operating Income and Expenses (Excluding Above) | 22,739.78 | | | Total | -15,481.85 | | Items Classified as Recurring Gains and Losses | Item | Amount Involved (Yuan) | Reason | | :--- | :--- | :--- | | Software VAT Refund | 1,554,031.89 | Closely related to normal operations and continuous | | Portion of Asset-Related Government Grants Recognized in Current Period | 686,439.86 | Closely related to normal operations and continuous | | Individual Income Tax Handling Fee Refund | 74,467.34 | Closely related to normal operations and continuous | | VAT Deduction for Employing Registered Impoverished Individuals | 17,732.00 | Closely related to normal operations and continuous | | Small Amount of Tax Exemption | 0.24 | Closely related to normal operations and continuous | | Total | 2,332,671.33 | | Section III Management Discussion and Analysis This section analyzes the company's operations, financial condition, and future outlook, including risks and opportunities Principal Businesses During the Reporting Period The company focuses on digital government and smart enterprise digitalization, with AI and data elements as core strategic drivers - The company focuses on digital government and smart enterprise digitalization, with artificial intelligence and data elements as core strategic drivers for transformation[27] - In "AI+", the company hosted an innovation competition to accelerate the development of industry-specific intelligent agents and applications, deeply integrating large models and AI technologies with its main business[27] - In "Data Elements×", the company researches data element policies, technologies, and model innovations, building industry-trusted data space solutions and exploring data element operations[27] Building Government Large Models, Deepening "AI+" Digital Government Scenario Applications The company developed Creator Government Large Models, exploring intelligent applications in various government sectors across over 20 provinces - The company developed Creator Government Large Models, providing intelligent application products and services, exploring applications in government services, social governance, medical insurance, and provident funds[28] - The "Government Vertical Large Model Development and Application Project Based on Large Language Models and Knowledge Graph Fusion" was selected for the "Hunan Province 'Digital New Infrastructure' 100 Landmark Projects List (2025)"[32] - The "Hunan Province One-Stop Online Service Platform Based on Government Large Models" was shortlisted for the 2024 Hunan Province Top Ten Digitalization Excellent Cases[32] Focusing on Multiple Aspects of Enterprise Operations and Production, Continuously Expanding Core Clients in Advantageous Fields The company's smart enterprise business leverages AI, big data, and IoT to enhance management and production efficiency for large enterprises - The company's smart enterprise business aims to enhance management capabilities and accelerate production efficiency for large enterprises using artificial intelligence, big data, and IoT digital technologies[38] - In advanced manufacturing, the glass defect detection business, based on machine vision technology, maintains a leading position, with products successfully exported to Europe for the first time[38] - In financial technology, the company launched an integrated intelligent assistant solution and products based on large models, assisting financial institutions with efficient operations and services[39] Analysis of Core Competencies The company's core competencies include continuous innovation, an agile business model, deep industry experience, and a high-caliber talent team - The company owns 836 software copyrights, 27 national invention patents, 12 utility model patents, and 1 design patent[41] - The company was selected as one of the "2025 Top 100 Brand Software Enterprises in Central China's Hubei, Hunan, and Henan Provinces," and received multiple provincial landmark projects and excellent cases[41] - The company achieved CMMI-DEV 3.0 Level 5 certification and holds CCRC information security service qualifications (Software Security Development Level 1, Information System Security Operations Level 1, Information System Security Integration Level 1)[45] Analysis of Main Business Operating revenue decreased by 53.01% due to fewer project acceptances, while operating costs also declined significantly Year-on-Year Changes in Key Financial Data | Indicator | Current Period (Yuan) | Prior Period (Yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 54,064,509.07 | 115,067,083.14 | -53.01% | Mainly due to reduced revenue recognition from project acceptances in the current period | | Operating Cost | 40,238,415.16 | 93,221,053.60 | -56.84% | Mainly due to reduced cost recognition from project acceptances in the current period | | Income Tax Expense | -1,564,404.95 | 1,148,935.56 | -236.16% | Mainly due to increased deferred income tax in the current period | | R&D Investment | 17,677,767.77 | 25,935,209.85 | -31.84% | Mainly due to a reduction in R&D personnel in the current period | | Credit Impairment Loss | -12,669,534.48 | 937,448.49 | -1,451.49% | Mainly due to increased bad debt losses in the current period | | Asset Impairment Loss | -69,268.18 | 4,995,702.71 | -101.39% | Mainly due to increased contract asset impairment losses in the current period | Product or Service Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Digital Government | 33,375,978.69 | 24,564,438.48 | 26.40% | -42.95% | -49.34% | 9.28% | | Smart Enterprise | 20,441,815.90 | 15,561,828.27 | 23.87% | -63.56% | -65.12% | 3.41% | - Direct materials, direct labor, and indirect costs in main business costs all changed by over 30% year-on-year, mainly due to reduced project acceptance revenue[55] Analysis of Non-Principal Business The company had no non-principal business during the reporting period - The company had no non-principal business during the reporting period[56] Analysis of Assets and Liabilities Total assets and net assets attributable to shareholders decreased, with significant changes in monetary funds, inventory, and borrowings Significant Changes in Asset Composition | Item | Period-End Amount (Yuan) | Proportion of Total Assets | Prior Year-End Amount (Yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 43,058,423.32 | 5.61% | 100,672,908.46 | 12.60% | -6.99% | Mainly due to negative net cash flow from operating activities in the current period | | Inventory | 341,100,325.18 | 44.44% | 292,662,215.75 | 36.62% | 7.82% | No significant change | | Right-of-Use Assets | | | 332,099.70 | 0.04% | -0.04% | Mainly due to a decrease in right-of-use assets in the current period | | Short-Term Borrowings | 218,497,661.90 | 28.47% | 173,029,600.00 | 21.65% | 6.82% | No significant change | | Contract Liabilities | 166,232,443.09 | 21.66% | 138,445,193.85 | 17.33% | 4.33% | No significant change | | Notes Receivable | 4,513,834.43 | 0.59% | 12,022,393.00 | 1.50% | -0.91% | Mainly due to a decrease in low-credit-rated notes held in the current period | | Financing Receivables | 628,979.37 | 0.08% | 1,213,548.88 | 0.15% | -0.07% | Mainly due to a decrease in high-credit-rated notes held in the current period | | Prepayments | 8,910,069.15 | 1.16% | 5,689,727.98 | 0.71% | 0.45% | Mainly due to increased prepayments for project procurement in the current period | | Other Receivables | 12,097,499.56 | 1.58% | 7,907,483.87 | 0.99% | 0.59% | Mainly due to increased payments for intercompany balances and deposits in the current period | | Notes Payable | 29,789,240.37 | 3.88% | 56,875,940.66 | 7.12% | -3.24% | Mainly due to reduced use of notes for settlement of goods in the current period | | Employee Compensation Payable | 10,433,363.48 | 1.36% | 20,961,256.45 | 2.62% | -1.26% | Mainly due to payment of prior year-end bonuses and a reduction in personnel in the current period | | Taxes Payable | 6,295,064.53 | 0.82% | 10,404,124.33 | 1.30% | -0.48% | Mainly due to payment of prior year's taxes in the current period | | Retained Earnings (Accumulated Losses) | -57,873,957.17 | -7.54% | -6,824,011.94 | -0.85% | -6.69% | Mainly due to negative net profit in the current period | - Restricted fixed assets had a book value of 51,885,411.17 yuan at period-end, used as collateral for bank borrowings[62] - Restricted other monetary funds had a book value of 7,825,373.74 yuan at period-end, used for bank acceptance bill deposits and letter of guarantee deposits[62] Analysis of Investment Status The company had no significant equity or non-equity investments, fair value financial assets, or entrusted financial activities during the reporting period - The company had no use of raised funds during the reporting period[63] - The company had no entrusted wealth management, derivative investments, or entrusted loans during the reporting period[64][65][66] Significant Asset and Equity Disposals The company did not undertake any significant asset or equity disposals during the reporting period - The company did not dispose of any significant assets during the reporting period[67] - The company did not dispose of any significant equity during the reporting period[68] 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[68] 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[69] Risks Faced by the Company and Countermeasures The company faces risks from policy changes, market competition, talent shortages, and financial exposures, actively implementing countermeasures - The company faces risks from industry policy changes due to reduced investment in digital government, and intensified market competition in smart city and intelligent manufacturing sectors[69][70] - The company experiences risks of high-end professional talent shortage and revenue regional concentration, with most operating revenue concentrated in Hunan[71][72] - The company also faces technological innovation risks from rapid software and information technology service industry updates, and financial risks from high accounts receivable and large inventory[73][75][76] Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period On May 8, 2025, the company held its 2024 annual online performance briefing, engaging with online investors - On May 8, 2025, the company held its 2024 annual online performance briefing via the Value Online platform, engaging with online investors[77] Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan The company has not formulated a market value management system nor disclosed a valuation enhancement plan - The company has not formulated a market value management system[78] - The company has not disclosed a valuation enhancement plan[78] "Dual Improvement in Quality and Returns" Action Plan Implementation The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan - The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan[78] Section IV Corporate Governance, Environment, and Society This section covers changes in governance, profit distribution, employee incentives, environmental disclosures, and social responsibility initiatives Changes in Directors, Supervisors, and Senior Management Several supervisors, including the Chairman, resigned due to term expiration and job reassignments during the reporting period - Supervisor Board Chairman Xie Shiwei and Supervisors Liu Xingsha, Wu Xu, Zhong Lian, and Wu Xianwei resigned due to term expiration[80] - The reason for their resignation was job reassignment[80] Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[81] Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[82] Environmental Information Disclosure Neither the listed company nor its major subsidiaries are required to disclose environmental information by law - Neither the listed company nor its major subsidiaries are included in the list of enterprises required to disclose environmental information by law[83] Social Responsibility The company maintains robust investor protection, adheres to information disclosure, and prioritizes employee welfare and safety - The company established a sound investor protection mechanism, clarifying investor rights and setting up an audit committee, independent directors, and board secretary[83] - The company strictly convenes shareholder meetings in accordance with laws and regulations, diligently fulfills information disclosure obligations, and communicates with investors through various channels[83] - The company adheres to "people-oriented" core values, strictly complies with labor laws and regulations, providing a healthy, safe, and comfortable working environment, and safeguarding employees' legitimate rights and interests[83][84] Section V Significant Matters This section details important events, transactions, and legal proceedings affecting the company during the reporting period Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period No commitments by the company's controlling shareholder, shareholders, related parties, acquirers, or the company were either fulfilled or overdue and unfulfilled during the reporting period - No commitments by the company's controlling shareholder, shareholders, related parties, acquirers, or the company were either fulfilled or overdue and unfulfilled during the reporting period[86] Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company No non-operating funds were occupied by the controlling shareholder or other related parties from the listed company during the reporting period - No non-operating funds were occupied by the controlling shareholder or other related parties from the listed company during the reporting period[87] Illegal External Guarantees The company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[88] Appointment and Dismissal of Accounting Firms The company's semi-annual report was not audited - The company's semi-annual report was not audited[89] Board of Directors' and Audit Committee's Explanation on "Non-Standard Audit Report" for the Current Period The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[90] Board of Directors' Explanation on "Non-Standard Audit Report" for the Prior Year The company had no non-standard audit report for the prior year during the reporting period - The company had no non-standard audit report for the prior year during the reporting period[90] Bankruptcy and Reorganization Related Matters The company did not experience any bankruptcy and reorganization related matters during the reporting period - The company did not experience any bankruptcy and reorganization related matters during the reporting period[90] Litigation Matters The company had no significant litigation during the reporting period, with other cases closed and under enforcement - The company had no significant litigation or arbitration matters during the reporting period[91] Other Litigation Matters | Basic Information of Litigation (Arbitration) | Amount Involved (10,000 Yuan) | Whether Provision for Liabilities Formed | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | Litigation (Arbitration) Judgment Enforcement Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Other Litigation Matters where the Company is Plaintiff | 285.06 | No | Closed | Closed | Partial fulfillment, partial enforcement ongoing | | Other Litigation Matters where the Company is Defendant | 34.41 | No | Closed | Closed | Under enforcement | Penalties and Rectification The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[93] Integrity Status of the Company, its Controlling Shareholder, and Actual Controller No issues regarding the integrity status of the company, its controlling shareholder, or actual controller were reported during the period - No issues regarding the integrity status of the company, its controlling shareholder, or actual controller were reported during the period[94] Significant Related Party Transactions The company engaged in IT service sales with a major shareholder and received significant interest-free guarantees from key management Related Party Transactions Related to Daily Operations | Related Party | Relationship | Transaction Type | Transaction Content | Transaction Amount (10,000 Yuan) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | :--- | :--- | | Hunan Data Industry Group Co, Ltd | Legal entity holding over 5% of company shares | Sales of Goods, Provision of Services | Information Technology Services | 617.79 | 100.00% | | Fei Yaoping | Legal Representative, Director | Guarantee | Provided guarantee for the company | 40,550 | 100.00% | | Total | | | | 41,167.79 | | - Chairman Fei Yaoping, Director, General Manager, and CFO Li Jie, Director and Deputy General Manager Li Jianhua, and major shareholder Liu Xingsha provided interest-free guarantees for the company's bank credit lines[100] - Fei Yaoping, Li Jie, Li Jianhua, and Liu Xingsha pledged 6.5 million shares, 6.5 million shares, 6.5 million shares, and 4.5 million shares respectively, for a one-year guarantee period[100] Significant Contracts and Their Performance The company had no entrustment, contracting, or leasing matters, but provided a fulfilled guarantee to its subsidiary Creator Integration - The company had no entrustment, contracting, or leasing situations during the reporting period[102][103][104] Company's Guarantees to Subsidiaries | Guaranteed Party Name | Guarantee Limit (10,000 Yuan) | Actual Occurrence Date | Actual Guarantee Amount (10,000 Yuan) | Guarantee Type | Whether Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Creator Integration | 6,000 | 2023年08月16日 | 1,000 | Joint and Several Liability Guarantee | Yes | - The company had no other significant contracts during the reporting period[107] Explanation of Other Significant Matters The company reported suspected illegal activities by a client, leading to a police investigation to minimize losses - The company discovered suspected illegal and criminal activities while collecting payments from client Dayou Digital Technology (Beijing) Co, Ltd[108] - On April 19, 2024, the company reported the matter to the Changsha Public Security Bureau High-tech Zone Branch Economic Crime Investigation Detachment[108] - On July 9, 2024, the company received a "Case Acceptance Decision," and the case is currently under investigation[108] Significant Matters of Company Subsidiaries The company had no significant matters concerning its subsidiaries during the reporting period - The company had no significant matters concerning its subsidiaries during the reporting period[109] Section VI Share Changes and Shareholder Information This section details changes in share capital, restricted shares, and the shareholding structure of major shareholders Share Change Status Total share capital remained unchanged, but restricted shares increased due to supervisors' resignations, leading to a corresponding decrease in unrestricted shares Share Change Status | Share Type | Quantity Before Change (Shares) | Proportion Before Change | Change (Increase/Decrease) Subtotal (Shares) | Quantity After Change (Shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 44,460,795 | 18.44% | 3,359,073 | 47,819,868 | 19.83% | | II. Unrestricted Shares | 196,678,152 | 81.56% | -3,359,073 | 193,319,079 | 80.17% | | III. Total Shares | 241,138,947 | 100.00% | 0 | 241,138,947 | 100.00% | - Supervisors Xie Shiwei, Liu Xingsha, and Wu Xu's shares became 100% locked after their terms expired and they resigned, leading to an increase of 3,359,073 restricted shares for senior executives[113] - The above share changes were approved by the Board of Directors, Supervisory Board, and Annual General Meeting[114] Changes in Restricted Shares At period-end, total restricted shares were 47,819,868, primarily senior executive restricted shares, with increases for specific individuals due to resignations Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Increased During Period | Restricted Shares at End of Period | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | Fei Yaoping | 11,911,392 | 0 | 11,911,392 | Senior Executive Restricted Shares | | Li Jie | 11,656,885 | 0 | 11,656,885 | Senior Executive Restricted Shares | | Li Jianhua | 10,416,375 | 0 | 10,416,375 | Senior Executive Restricted Shares | | Liu Xingsha | 9,841,924 | 3,280,642 | 13,122,566 | Senior Executive Restricted Shares | | Xie Shiwei | 212,794 | 70,931 | 283,725 | Senior Executive Restricted Shares | | Tan Liqiu | 205,875 | 0 | 205,875 | Senior Executive Restricted Shares | | Li Dianbin | 71,100 | 0 | 71,100 | Senior Executive Restricted Shares | | Su Lihong | 63,000 | 0 | 63,000 | Senior Executive Restricted Shares | | Xiao Guorong | 58,950 | 0 | 58,950 | Senior Executive Restricted Shares | | Wu Xu | 22,500 | 7,500 | 30,000 | Senior Executive Restricted Shares | | Total | 44,460,795 | 3,359,073 | 47,819,868 | | Securities Issuance and Listing The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing activities during the reporting period[116] Number of Shareholders and Shareholding Status At period-end, the company had 36,454 common shareholders, with Hunan Data Industry Group as the largest, and several major shareholders having pledged shares - The total number of common shareholders was 36,454 at period-end[117] Shareholding Status of Shareholders Holding Over 5% or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Shares Held at Period-End (Shares) | Restricted Shares Held (Shares) | Unrestricted Shares Held (Shares) | Pledged, Marked, or Frozen Status (Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hunan Data Industry Group Co, Ltd | State-owned Legal Entity | 13.33% | 32,154,636 | 0 | 32,154,636 | 0 | | Fei Yaoping | Domestic Natural Person | 6.59% | 15,881,856 | 11,911,392 | 3,970,464 | 6,500,000 (Pledged) | | Li Jie | Domestic Natural Person | 6.45% | 15,542,514 | 11,656,885 | 3,885,629 | 6,500,000 (Pledged) | | Li Jianhua | Domestic Natural Person | 5.76% | 13,888,500 | 10,416,375 | 3,472,125 | 6,500,000 (Pledged) | | Liu Xingsha | Domestic Natural Person | 5.44% | 13,122,566 | 13,122,566 | 0 | 4,500,000 (Pledged) | - The company is unaware of any associated relationships or concerted actions among the aforementioned shareholders[117] Changes in Shareholdings of Directors, Supervisors, and Senior Management There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period[119] Changes in Controlling Shareholder or Actual Controller There were no changes in the company's controlling shareholder or actual controller during the reporting period - The company's controlling shareholder did not change during the reporting period[120] - The company's actual controller did not change during the reporting period[120] Preferred Share Related Matters The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[121] Section VII Bond Related Matters This section confirms the absence of any bond-related activities or issues for the company during the reporting period 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[123] Section VIII Financial Report This section presents the company's unaudited financial statements, including balance sheets, income statements, and cash flow statements Audit Report The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[125] Financial Statements This section provides the company's 2025 semi-annual consolidated and parent company financial statements, detailing financial position, operating results, and cash flow changes Consolidated Balance Sheet As of June 30, 2025, total consolidated assets were 767 million yuan, a 3.96% decrease, with shifts in current and non-current assets and liabilities - Period-end monetary funds were 43,058,423.32 yuan, a significant decrease from 100,672,908.46 yuan at the beginning of the period[127] - Period-end inventory was 341,100,325.18 yuan, an increase from 292,662,215.75 yuan at the beginning of the period[127] - Period-end short-term borrowings were 218,497,661.90 yuan, an increase from 173,029,600.00 yuan at the beginning of the period[128] Parent Company Balance Sheet As of June 30, 2025, the parent company's total assets were 768 million yuan, with similar trends in key accounts as the consolidated statements - Parent company period-end monetary funds were 35,261,952.08 yuan, a significant decrease from 92,227,843.13 yuan at the beginning of the period[132] - Parent company period-end inventory was 319,952,645.76 yuan, an increase from 278,601,665.94 yuan at the beginning of the period[132] - Parent company period-end short-term borrowings were 212,497,661.90 yuan, an increase from 169,640,000.00 yuan at the beginning of the period[133] Consolidated Income Statement For H1 2025, total operating revenue decreased by 53.01%, with net profit attributable to parent company shareholders showing an expanded loss - Total operating revenue for H1 2025 was 54,064,509.07 yuan, a 53.01% decrease from 115,067,083.14 yuan in H1 2024[134] - Net profit attributable to parent company shareholders was -51,049,945.23 yuan, an expanded loss compared to -40,036,304.83 yuan in the prior year[135] - Basic and diluted EPS were both -0.21 yuan, an expanded loss compared to -0.17 yuan in the prior year[135] Parent Company Income Statement For H1 2025, parent company operating revenue decreased by 52.34%, with net profit showing an expanded loss and significant credit impairment - Parent company operating revenue for H1 2025 was 44,675,366.49 yuan, a decrease from 93,738,742.33 yuan in H1 2024[136] - Parent company net profit was -44,717,000.04 yuan, an expanded loss compared to -33,985,633.20 yuan in the prior year[136] - Credit impairment loss was -11,528,408.57 yuan, a significant deterioration from 231,140.30 yuan in the prior year[136] Consolidated Cash Flow Statement Net cash flow from operating activities improved to -101 million yuan, while investing activities significantly improved, and financing activities slightly increased - Net cash flow from operating activities was -100,603,088.24 yuan, an improvement from -125,208,643.79 yuan in the prior year[139] - Net cash flow from investing activities was -350,371.72 yuan, a significant improvement from -4,267,885.67 yuan in the prior year[139] - Net cash flow from financing activities was 41,994,011.11 yuan, a slight increase from 39,859,575.35 yuan in the prior year[139] Parent Company Cash Flow Statement Parent company operating cash flow improved to -95.75 million yuan, investing cash flow turned positive, and financing cash flow decreased - Parent company net cash flow from operating activities was -95,747,584.43 yuan, an improvement from -129,530,328.16 yuan in the prior year[141] - Parent company net cash flow from investing activities was 2,804,924.96 yuan, turning positive from -14,497,240.67 yuan in the prior year[141] - Parent company net cash flow from financing activities was 34,631,804.71 yuan, a decrease from 50,045,437.29 yuan in the prior year[141] Consolidated Statement of Changes in Owners' Equity Total owners' equity attributable to the parent company decreased by 16.49% due to negative net profit, significantly reducing retained earnings - Period-end total owners' equity attributable to the parent company was 258,461,820.44 yuan, a decrease from 309,511,765.67 yuan at the beginning of the period[145] - Retained earnings changed from -6,824,011.94 yuan at the beginning of the period to -57,873,957.17 yuan at period-end, indicating a significant expansion of losses[145] - Minority interests increased from 8,003,177.95 yuan at the beginning of the period to 8,638,411.36 yuan[145] Parent Company Statement of Changes in Owners' Equity The parent company's total owners' equity decreased, with retained earnings showing a significant expansion of losses - Period-end parent company total owners' equity was 256,858,730.63 yuan, a decrease from 301,575,730.67 yuan at the beginning of the period[151] - Retained earnings changed from -15,868,931.44 yuan at the beginning of the period to -60,585,931.48 yuan at period-end, indicating a significant expansion of losses[151] Company Basic Information The company, a joint-stock entity in the software and IT services industry, has no parent or actual controller, with its financial report approved on August 27, 2025 - The company's registered and headquarters address: No. 678 Qingshan Road, Yuelu District, Changsha City, organizational form: Joint-stock company (listed, invested or controlled by natural persons)[154] - The company's main business is product development and services in digital government and smart enterprise, belonging to the software and information technology service industry[154] - The company has no parent company or actual controller, and the financial report was approved for issuance by the Board of Directors on August 27, 2025[154] Basis of Financial Statement Preparation These financial statements are prepared on a going concern basis, adhering to enterprise accounting standards, with no significant doubts about the company's ability to continue operations - These financial statements are prepared on a going concern basis, in accordance with relevant provisions of enterprise accounting standards[155] - The company possesses the ability to continue as a going concern for 12 months from the end of the reporting period, with no significant doubts about its going concern ability[156] Significant Accounting Policies and Estimates This section details the company's accounting policies and estimates for key financial items, adhering to enterprise accounting standards and using RMB as its functional currency - The company has specific accounting policies and estimates for impairment provisions for accounts receivable and contract assets, fixed asset depreciation, intangible asset amortization, and revenue recognition[157] - The company uses RMB as its functional currency, with a normal operating cycle of 12 months[160][161] - The company identifies accounts receivable with individual impairment provisions exceeding 0.5% (inclusive) of total assets as significant[162] Taxation The company's main taxes include VAT and enterprise income tax, benefiting from various preferential tax policies for software and high-tech enterprises Major Taxes and Tax Rates | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | VAT | Value-added from sales of goods or provision of services | 13%, 9%, 6% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7% | | Enterprise Income Tax | Taxable income | 25%, 20%, 15% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - Sales of self-developed software products are subject to 13% statutory VAT, with the portion exceeding 3% immediately refunded[276] - Technology development services approved by tax authorities are exempt from VAT, and R&D expenses enjoy a 100% pre-tax super deduction policy[277] - The company obtained its high-tech enterprise certificate on October 16, 2023, making it eligible for a 15% preferential enterprise income tax rate for 2025[278] Notes to Consolidated Financial Statement Items This section provides detailed explanations for various asset, liability, equity, income, cost, and expense items in the consolidated financial statements - Period-end monetary funds were 43,058,423.32 yuan, of which 7,825,373.74 yuan were restricted funds for bank acceptance bill deposits and letter of guarantee deposits[280] - Period-end accounts receivable book balance was 251 million yuan, with impairment provisions of 87.36 million yuan, a book value of 164 million yuan, and an impairment provision ratio of 34.75%[290] - Period-end short-term borrowings were 218 million yuan, primarily including pledged borrowings, guaranteed borrowings, credit borrowings, and mortgage-guaranteed borrowings, with multiple borrowings guaranteed by company executives[384] R&D Expenses Total R&D expenses for H1 2025 decreased by 31.84% to 17.68 million yuan, primarily due to reduced employee compensation R&D Expense Details | Item | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Employee Compensation | 17,386,800.97 | 25,748,806.39 | | Depreciation and Amortization | 283,419.63 | 186,403.46 | | Other | 7,547.17 | | | Total | 17,677,767.77 | 25,935,209.85 | | Of which: Expensed R&D | 17,677,767.77 | 25,935,209.85 | - Current period R&D expenses decreased by 31.84% year-on-year, mainly due to a reduction in R&D personnel[50] Changes in Consolidation Scope The company reported no changes in its consolidation scope during the reporting period - The company reported no changes in consolidation scope due to non-same control business combinations, same control business combinations, reverse acquisitions, disposal of subsidiaries, or other reasons during the reporting period[492][493] Interests in Other Entities The company controls multiple subsidiaries and holds interests in associates, including Hunan Shutu Creator Information Technology Co, Ltd, which it effectively controls despite a 49% shareholding Composition of Enterprise Group (Partial) | Subsidiary Name | Registered Capital (Yuan) | Business Nature | Shareholding Proportion (Direct) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | | Hunan Creator Information System Integration Co, Ltd | 20,000,000.00 | IT | 100.00% | Investment Establishment | | Beijing Creator Xinyuan Information Technology Co, Ltd | 5,000,000.00 | IT | 88.00% | Investment Establishment | | Hunan Shutu Creator Information Technology Co, Ltd | 20,000,000.00 | IT | 49.00% | Investment Establishment | - The company holds 49% of Hunan Shutu Creator Information Technology Co, Ltd, but actually controls it by appointing two directors and holding two-thirds of the board's voting rights[494] Important Joint Ventures or Associates | Joint Venture or Associate Name | Business Nature | Shareholding Proportion (Direct) | Accounting Method | | :--- | :--- | :--- | :--- | | Hunan Huazi Zhuochuang Intelligent Technology Co, Ltd | Software and Information Technology Services | 19.00% | Equity Method | | Xiangtan Digital Economy Industry Co, Ltd | Internet and Related Services | 9.00% | Equity Method | Government Grants The company had no government grants recognized at receivable amounts, with deferred income of 2,823,090.82 yuan related to assets - The company had no government grants recognized at receivable amounts at period-end[503] Liability Items Related to Government Grants | Account Title | Beginning Balance (Yuan) | Amount Transferred to Other Income in Current Period (Yuan) | Ending Balance (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 3,509,530.68 | 686,439.86 | 2,823,090.82 | Asset-related | - Government grants recognized in current period profit or loss (other income) amounted to 1,571,810.26 yuan[506] Risks Related to Financial Instruments The company's financial instruments expose it to credit, liquidity, and market risks, which are managed through various strategies - The company's financial instruments are primarily for operational financing, with main risks being credit risk, liquidity risk, and market risk[507] - Credit risk mainly arises from customers' failure to repay accounts receivable, but monetary funds and financing receivables are considered to have low credit risk[509] - The company manages liquidity risk through rolling liquidity plans and believes financial liabilities do not pose significant market interest rate change risks, with no significant foreign exchange rate change risks due to no export sales revenue[510][512] Fair Value Disclosure Period-end assets measured at fair value primarily consisted of financing receivables (bank acceptance bills) totaling 628,979.37 yuan, measured at face amount Fair Value of Assets and Liabilities Measured at Fair Value at Period-End | Item | Level 3 Fair Value Measurement (Yuan) | Total (Yuan) | | :--- | :--- | :--- | | (I) Financing Receivables | 628,979.37 | 628,979.37 | | Of which: Bank Acceptance Bills | 628,979.37 | 628,979.37 | | Total Assets Continuously Measured at Fair Value | 628,979.37 | 628,979.37 | - Financing receivables are bank acceptance bills from highly-rated banks, measured at fair value based on their face amount[517] Related Parties and Related Party Transactions The company, without a parent or actual controller, engaged in IT service sales with a major shareholder and received guarantees from key management - The company has no parent company or actual controller[518] Sales of Goods/Provision of Services | Related Party | Related Party Transaction Content | Amount for Current Period (Yuan) | | :--- | :--- | :--- | | Hunan Data Industry Group Co, Ltd | Information Technology Services | 3,947,846.69 | | Digital Hunan Co, Ltd | Information Technology Services | 0 | Key Management Personnel Compensation | Item | Amount for Current Period (Yuan) | | :--- | :--- | | Key Management Personnel Compensation | 1,724,962.19 | Share-Based Payment This section does not provide specific information on share-based payment Commitments and Contingencies As of the balance sheet date, the company had no significant commitments or contingencies requiring disclosure - As of the balance sheet date, the company had no significant commitments requiring disclosure[532] - As of the balance sheet date, the company had no significant contingencies requiring disclosure[533] Events After the Balance Sheet Date As of the financial statement approval date, the company had no other non-adjusting events after the balance sheet date requiring disclosure - As of the financial statement approval date, the company had no other non-adjusting events after the balance sheet date requiring disclosure[536] Other Significant Matters The company determines operating segments based on internal structure but does not report detailed segment information due to similar economic characteristics across its IT service projects - The company determines operating segments based on internal organizational structure, management requirements, and internal reporting systems[538] - Due to the company's revenue and assets primarily relating to the software and information technology service industry, with similar economic characteristics across different projects, more detailed operating segment information is not required[540] Notes to Parent Company Financial Statement Items This section details key items in the parent company's financial statements, including accounts receivable, other receivables, and long-term equity investments - Parent company period-end accounts receivable book balance was 251 million yuan, with impairment provisions of 93.09 million yuan, a book value of 158 million yuan, and an impairment provision ratio of 37.09%[114][546] - Parent company other receivables period-end book balance was 146 million yuan, with impairment provisions of 102 million yuan, a book value of 44.48 million yuan, and amounts from Dayou Digital Technology (Beijing) Co, Ltd fully provisioned for bad debts[115][559][560] - Parent company long-term equity investments had a period-end book value of 15.87 million yuan, including 15.72 million yuan in investments in subsidiaries and 0.1493 million yuan in investments in associates and joint ventures[118][572] Supplementary Information This section provides details on non-recurring gains and losses, net asset return, and earnings per share, confirming no accounting data differences under various standards Current Period Non-Recurring Gains and Losses Details | Item | Amount (Yuan) | | :--- | :--- | | Disposal Gains/Losses of Non-Current Assets | -38,268.00 | | Government Grants Recognized in Current P&L (Excluding Recurring) | 46.37 | | Other Non-Operating Income and Expenses (Excluding Above) | 22,739.78 | | Total | -15,481.85 | Net Asset Return and Earnings Per Share | Profit for the Reporting Period | Weighted Average ROE | Basic EPS (Yuan/Share) | Diluted EPS (Yuan/Share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders | -17.98% | -0.21 | -0.21 | | Net Profit Attributable to Common Shareholders After Deducting Non-Recurring Gains and Losses | -17.97% | -0.21 | -0.21 | - The company reported no differences in accounting data under domestic and overseas accounting standards during the reporting period[587]