Financial Performance - The company's total revenue for the first half of 2025 was 88.97 million yuan, a decrease of 11.97% year-on-year [1] - The net profit attributable to the parent company was -38.04 million yuan, an increase of 17.36% year-on-year [1] - The gross profit margin improved to 30.48%, up 38.64% year-on-year, while the net profit margin was -45.67%, a slight improvement of 5.14% year-on-year [1] - Total expenses (selling, administrative, and financial) accounted for 45.46% of total revenue, an increase of 43.48% year-on-year [1] Cash Flow and Debt - The company reported a negative operating cash flow per share of -0.76 yuan, an improvement of 18.68% year-on-year [1] - The company’s cash assets are considered healthy, but the average operating cash flow over the past three years was -17.43% of current liabilities [3] - Interest-bearing liabilities increased significantly by 157.35% year-on-year, reaching 20.41 million yuan [1] Business Model and Market Position - The company has a historical median ROIC of 11.61%, but the worst year recorded a ROIC of -13.42%, indicating a fragile business model [2] - The company has experienced three years of losses since its listing, reflecting challenges in its business model [2] - The company focuses on data intelligence technology, developing solutions tailored to specific industry needs, which has received positive recognition from clients [4][5] Fund Holdings - The largest fund holding the company’s shares is the Xin'ao Core Technology Mixed A Fund, which has increased its holdings [4] - The fund manager has reported a significant annual increase of 112.71% in the fund's net value [4]

《上市公司募集资金监管规则》 中信证券股份有限公司 关于北京慧辰资道资讯股份有限公司 变更募投项目的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）作为北京慧辰 资道资讯股份有限公司（以下简称"慧辰股份"、"上市公司"或"公司"）首次 公开发行股票并在科创板上市的保荐人，根据《中华人民共和国公司法》《中华 人民共和国证券法》 《上海证券交易所科创板股票 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》 上市规则》 等有关法律法规和规范性文件的要求，对慧辰股份变更募投项目事项进行了核 查，并发表如下意见： 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同 意北京慧辰资道资讯股份有限公司首次公开发行股票注册的批复》（证监许可 〔2020〕1186 号），公司获准向社会公开发行人民币普通股 1,856.8628 万股，每 股面值人民币 1.00 元，每股发行价为人民币 34.21 元，合计募集资金人民币 集资金净额为人民币 560,402,763.88 元。本次募集资金已于 2020 年 7 月 13 日全 部到位，普华永道中天会计师事务所 ...