碧兴物联近一年半连亏 2023上市募7亿华英证券保荐

Core Insights - Bixing Wulian (688671.SH) reported a revenue of 111.3 million yuan for the first half of 2025, marking an 11.16% year-on-year increase, but incurred a net loss attributable to shareholders of 23.91 million yuan, compared to a loss of 6.01 million yuan in the same period last year [1][2]. Financial Performance - Revenue for the first half of 2025 was 111.3 million yuan, up 11.16% from 100.1 million yuan in the previous year [2]. - The total profit for the period was -29.68 million yuan, worsening from -9.13 million yuan year-on-year [2]. - The net profit attributable to shareholders was -23.91 million yuan, compared to -6.01 million yuan in the same period last year [2]. - The net profit after excluding non-recurring items was -29.20 million yuan, compared to -10.98 million yuan in the previous year [2]. - The net cash flow from operating activities was -47.51 million yuan, a significant decline from a positive cash flow of 129.46 million yuan in the previous year, representing a 136.70% decrease [2]. - As of the end of the reporting period, the net assets attributable to shareholders were 1.08 billion yuan, down 2.00% from the previous year-end [2]. Historical Financial Data - Revenue for Bixing Wulian from 2022 to 2024 was 472.4 million yuan, 350 million yuan, and 329.4 million yuan, respectively [2]. - The net profit attributable to shareholders for the same years was 58.37 million yuan, 23.37 million yuan, and -38.55 million yuan [2]. - The net profit after excluding non-recurring items for the same years was 53.66 million yuan, 10.50 million yuan, and -52.62 million yuan [2]. Growth Indicators - The total revenue for the year ending December 31, 2024, was 329.4 million yuan, a decrease of 5.91% from the previous year [3]. - The net profit attributable to shareholders for the same period was -38.55 million yuan, reflecting a decline of 264.92% year-on-year [3]. - The net profit after excluding non-recurring items showed a significant decline of 601.42% year-on-year [3]. IPO Details - Bixing Wulian was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 9, 2023, with an initial public offering of 19.63 million shares at a price of 36.12 yuan per share [3]. - The total amount raised from the IPO was approximately 709.04 million yuan, with a net amount of 623.44 million yuan after deducting issuance costs [4]. - The actual net fundraising exceeded the original target by 210.83 million yuan [4].