Revenue and Profitability - The company reported a total revenue of 149 million yuan for the first half of 2025, an increase of 24.3% year-on-year [1] - The net profit attributable to shareholders reached 12.83 million yuan, up 137.45% year-on-year, while the net profit excluding non-recurring items was 6.44 million yuan, an increase of 118.7% [1] - In the second quarter, total revenue was 84.35 million yuan, a decrease of 5.65% year-on-year, but net profit increased by 110.97% to 1.59 million yuan [2] Main Business Composition - The main revenue sources are water treatment products, project operation services, and comprehensive water environment governance solutions, with project operation services generating the highest revenue of 51.85 million yuan, accounting for 34.71% of total revenue [3] - Water treatment products contributed 53.23 million yuan, representing 35.63% of total revenue [3] Financial Health - Cash flow remains a concern, with cash and cash equivalents at 84.77 million yuan, down 52.85% year-on-year due to increased loan repayments [4] - Interest-bearing debt stands at 216 million yuan, a decrease of 8.69% year-on-year, but the structure has shifted to short-term liabilities, increasing repayment pressure [5] Cost Control - The ratio of selling, administrative, and financial expenses to revenue is 22.13%, a decrease of 33.36% year-on-year, indicating effective cost control [6] Profitability and Efficiency - The gross margin is 25.13%, up 13.54% year-on-year, and the net margin is 8.54%, an increase of 129.93% [7] - Earnings per share rose to 0.19 yuan, a 138% increase year-on-year, while operating cash flow per share increased by 122.06% to 0.38 yuan [8] Industry Background and Development Prospects - The domestic water environment governance market is expected to exceed 670.1 billion yuan in 2025, growing by 18% year-on-year, with the company holding a competitive edge in technology and brand [10] - The company is actively expanding into overseas markets as domestic competition intensifies, aiming for more opportunities internationally [11] Conclusion - Overall, the company achieved significant performance improvement in the first half of 2025, particularly in profitability, but cash flow and debt structure require further optimization for long-term stability [12]

创业板投资风险提示 本次股票发行后拟在创业板市场上市，该市场具有较高的投资风险。创业板公司具 有创新投入大、新旧产业融合成功与否存在不确定性、尚处于成长期、经营风险高、业 绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投资者应充分了解创业板 市场的投资风险及本公司所披露的风险因素，审慎作出投资决定。 北京科净源科技股份有限公司 Beijing Sys Science & Technology Co. , Ltd. （北京市顺义区东盈路 19 号） 首次公开发行股票并在创业板上市 招股意向书 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 北京科净源科技股份有限公司 招股意向书 声明及承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益做出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。根据《证券法》的规定，股票依法发行后，发行 人经营与收益的变化，由发行人自行负责；投资者自主判断发行人的投资价值， 自主作出投资决策，自行承担股票依法发行后因发行 ...