中水三立拟申请北交所IPO 上半年净利润亏损

Core Viewpoint - Zhongshui Sanli plans to publicly issue shares and list on the Beijing Stock Exchange, aiming to enhance its scale and competitiveness in the smart water infrastructure sector [1][2]. Group 1: Company Overview - Zhongshui Sanli is a national high-tech enterprise and a "little giant" enterprise recognized for specialization and innovation [1]. - The company provides digitalized integrated services, software development, operation and maintenance services, and hardware sales for government departments, public institutions, and state-owned enterprises [1]. Group 2: Stock Issuance Details - The company intends to issue up to 18 million shares, with a public holding ratio of at least 25% post-issuance [1]. - The total share capital before issuance is 54.5 million shares, with 19.73 million shares in circulation and 34.77 million shares under lock-up [1]. Group 3: Fund Utilization - The funds raised will be allocated to the following projects: digital service platform upgrade (55 million), R&D center construction (50 million), marketing network development (35 million), and working capital (60 million) [2]. - Any shortfall in funding will be covered by the company's own funds or other means, while excess funds will be used according to regulatory guidelines [2]. Group 4: Financial Performance - Revenue for 2023, 2024, and the first half of 2025 is projected at 423 million, 424 million, and 144.5 million respectively, with year-on-year growth rates of 40.06%, 0.38%, and 18.08% [2]. - Net profit attributable to shareholders for the same periods is expected to be 38.49 million, 47.21 million, and a loss of 2.56 million, with growth rates of 133.43%, 22.65%, and 10.59% [2]. Group 5: Financial Conditions for Listing - The audited net profit excluding non-recurring gains for 2023 and 2024 is projected at 36.02 million and 42.96 million, with weighted average return on net assets of 22.80% and 21.34% respectively, meeting the financial criteria for listing on the Beijing Stock Exchange [3]. - The company has not yet disclosed its Q3 2025 report, but the H1 2025 report indicates a net loss [3].