Willfar(SH:688100) Zheng Quan Shi Bao Wang·2025-07-29 14:45Core Viewpoint - The company, Weisheng Information, reported steady growth in its performance for the first half of 2025, driven by its core technologies in "IoT + chips + AI" amidst a global energy transition [1] Financial Performance - In the first half of 2025, Weisheng Information achieved operating revenue of 1.368 billion yuan, a year-on-year increase of 11.9%, with main business revenue accounting for 99.5% of total revenue [1] - The net profit attributable to shareholders reached 305 million yuan, up 12.2% year-on-year, indicating improved profitability [1] - The company generated operating cash flow of 178 million yuan, reflecting an 11.1% year-on-year improvement, laying a solid foundation for the full-year performance [1] Business Development - The company signed new orders worth 1.627 billion yuan in the first half of 2025, representing an 8.3% year-on-year increase, with a backlog of contracts totaling 3.956 billion yuan, up 12.6% [2] - Weisheng Information launched nearly 36 innovative products and solutions, generating revenue of 642 million yuan, which accounted for 47% of total revenue [2] - R&D expenses reached 103 million yuan, with 440 R&D personnel making up 51.52% of the total workforce [2] Technological Advancements - The company made significant breakthroughs in its technology system for distribution automation, reducing fault control delays from minutes to seconds, which earned a prestigious patent award [3] - Weisheng Information's comprehensive measurement and control terminal (RTU) achieved international advanced standards and has been applied in the Middle East [3] - The company has established over 10 overseas subsidiaries and sales offices, with international business revenue reaching 283 million yuan, accounting for 20.8% of main business revenue [3] Shareholder Returns - In response to new policies, Weisheng Information enhanced its investor return mechanism, proposing a mid-year dividend of 2.5 yuan per 10 shares, with a payout ratio of 40% [4] - The company completed a share buyback of 128 million yuan during the reporting period, with total cash dividends and buybacks amounting to 249 million yuan, representing 81.74% of net profit [4] - Since its listing, the company has distributed a total of 958 million yuan in cash dividends and repurchased shares worth approximately 200 million yuan [5] Market Positioning - Weisheng Information is actively involved in the rapid development of new power systems, leveraging its core technologies to deepen energy digital transformation [6] - The company has expanded its business scope to include various sectors such as smart water management and urban digital management, creating a diverse energy IoT ecosystem [6] - Collaborations with major players like Huawei in the smart distribution solutions sector are underway, showcasing the company's commitment to innovation [7]