Zhong Guo Jing Ji Wang·2025-09-18 07:59Core Viewpoint - *ST Guandian (688287.SH) reported a significant decline in revenue and net profit for the first half of 2025, indicating financial distress and operational challenges faced by the company [1][2]. Financial Performance - The company achieved operating revenue of 10.05 million yuan in the first half of 2025, a year-on-year decrease of 82.48% [1][2]. - The net profit attributable to shareholders was -53.21 million yuan, reflecting a worsening financial position compared to the previous year [1][2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -48.34 million yuan [1][2]. - The net cash flow from operating activities was -27.85 million yuan, indicating negative cash flow [1][2]. Historical Context - The company transitioned from the National Equities Exchange and Quotations (NEEQ) to the Beijing Stock Exchange in July 2020, and subsequently to the Sci-Tech Innovation Board in May 2022 [3][4]. - The total share capital during the transfer to the Sci-Tech Innovation Board was 237.51 million shares, with no old shares transferred and no new shares issued [4]. - The opening reference price for the stock upon listing on the Sci-Tech Innovation Board was 21.88 yuan per share, but the stock is currently trading below this price [4]. Shareholder Returns - In July 2022, the company announced a cash dividend of 0.06 yuan per share and a capital reserve increase of 0.2 shares per share, resulting in a total share capital increase to 370.52 million shares [5].