◎记者 闫刘梦 刘立 在河北省近1500万家庭电视屏幕上，一场静默的数字化变革正在上演。 河北广电无线传媒股份有限公司（简称"无线传媒"）这家承载着全省IPTV播控使命的企业，正将其业务边界从传统的视听 服务，拓展至智慧家庭、政企数字化等更广阔的领域。近日，上海证券报记者走进无线传媒，探寻公司在巩固主营业务基 本盘的同时，如何以技术重构大屏价值，探索出一条文化科技融合的差异化发展道路。 河北广电无线传媒股份有限公司（简称"无线传媒"）这家承载着全省IPTV播控使命的企业，正将其业务边界从传统的视听 服务，拓展至智慧家庭、政企数字化等更广阔的领域。 近日，上海证券报记者走进无线传媒，探寻公司在巩固主营业务基本盘的同时，如何以技术重构大屏价值，探索出一条文 化科技融合的差异化发展道路。 战略升级：从客厅大屏到智慧家庭生态的跃迁 无线传媒的IPTV用户规模近1500万户，其市场渗透率与河北省人口及家庭规模增长相适应，渐趋稳定，寻找新的增长曲 线成为必然选择。 "公司提出从'IPTV视听服务'向'智慧家庭领域'延伸的战略，核心在于打破单一客厅大屏的局限。"无线传媒董事、总经理 张立成阐述了公司的战略意图。 公司规划建 ...

Core Viewpoint - Huaxida, a former New Third Board listed company, has submitted a listing application to the Hong Kong Stock Exchange after previously failing to go public in the A-share market due to significant declines in net profit and questions regarding the authenticity and sustainability of its rapid growth [1][5][8]. Group 1: Company Background - Established in 2003, Huaxida is a leading provider of smart home ecosystem solutions, focusing on hardware and software solutions for global clients [2]. - According to Frost & Sullivan, Huaxida ranks as the eighth largest provider of enterprise-level AI home solutions globally and the third largest in China, with over 90% of its sales coming from overseas [2]. Group 2: IPO Attempts and Challenges - Huaxida's journey to go public has faced multiple setbacks, including a failed attempt to list on the New Third Board in 2020 and a subsequent withdrawal of its A-share IPO application in early 2024 after facing regulatory scrutiny [3][8]. - The company experienced significant revenue growth from 2020 to 2022, with revenue increasing from 683 million yuan to 2.529 billion yuan and net profit rising from 49 million yuan to 251 million yuan, achieving compound annual growth rates of 54.71% and 72.38% respectively [5]. Group 3: Financial Performance and Concerns - In 2023, Huaxida's revenue decreased by 6.39% to 2.367 billion yuan, and net profit fell by 23.78% to 191 million yuan, indicating a troubling trend of "increased revenue without increased profit" [8]. - The company faced repeated regulatory inquiries regarding the authenticity of its revenue growth and the nature of its transactions with related parties, particularly concerning its largest customer, Wisdom Media, which is controlled by the family of Huaxida's vice president [5][6][7]. Group 4: Regulatory Issues and Disclosures - Huaxida has been subject to regulatory warnings for failing to disclose related party transactions and for multiple accounting errors, leading to administrative penalties from the Shenzhen Securities Regulatory Bureau [6][9]. - The company has also faced scrutiny over its frequent changes in lead underwriters during its IPO attempts, raising questions about the integrity of its financial disclosures [9][10].