据证券之星公开数据整理，近期会畅通讯（300578）发布2025年中报。截至本报告期末，公司营业总收 入2.22亿元，同比下降5.06%，归母净利润802.17万元，同比下降53.54%。按单季度数据看，第二季度 营业总收入1.1亿元，同比下降17.97%，第二季度归母净利润142.92万元，同比下降0.44%。本报告期会 畅通讯公司应收账款体量较大，当期应收账款占最新年报归母净利润比达440.21%。 本次财报公布的各项数据指标表现一般。其中，毛利率35.46%，同比增9.32%，净利率3.61%，同比减 50.02%，销售费用、管理费用、财务费用总计4112.05万元，三费占营收比18.53%，同比增0.53%，每股 净资产5.99元，同比增1.59%，每股经营性现金流-0.09元，同比减149.81%，每股收益0.04元，同比减 54.02% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.34亿 | 2.22亿 | -5.06% | | 归母净利润(元) | 1726.59万 | 802.17万 | ...

中证报中证网讯(王珞)8月25日晚间，会畅通讯（300578）发布了2025年半年度报告。报告显示，2025 年上半年，公司实现营业收入2.22亿元，与上年度基本持平。实现净利润802.17万元，下降幅度较大， 主要原因是去年同期公司转让子公司苏州数智源信息技术有限公司，实现收益1131.97万元。公司实现 扣非净利润341.66万元，同比增长245.48%，毛利率同比提升3.02个百分点。 报告期内，公司围绕4K高清、AI智能化加快新品发布进度，不断丰富和拓展产品系列，提升产品竞争 力，推出了多款AI音视频产品，同时进一步开发针对个人消费者的智能新硬件产品，并加大力度实施 出海战略。子公司明日实业还通过了"粤港澳大湾区人工智能知名品牌"认定，其"声像联动解决方案"通 过了深圳市人工智能协会"AI标杆产品"认定。公司在AI领域、云视频软件平台、智能硬件等方面持续投 入，未来表现值得期待。 公司作为智能云视频领域的领先企业，具备切入AI+的先天优势，上半年，公司加大了对软件新平台、 智能硬件新产品、整体解决方案的研发力度，研发投入增加13.09%。公司升级迭代了"会畅智云"云会议 平台，与浙江大学宁波科创中心共 ...

Group 1: Core Views - The recent upgrades in stock ratings by brokerages are primarily concentrated in sectors with significant performance growth, rising industry sentiment, or turnaround situations, particularly in AI and robotics [2][5] - The number of stocks downgraded by brokerages has reached a year-to-date high, with notable downgrades in the coal and tourism sectors [5][6] Group 2: Upgraded Stocks - Multiple stocks in the AI and robotics sectors have received rating upgrades, including: - Platinum New Materials, with a projected net profit of 376 million yuan for 2024, a year-on-year increase of 46.9% [2] - Huichang Communications, expected to achieve a net profit of 29 million yuan in 2024, turning profitable with a 12.28% year-on-year revenue growth in Q1 [2] - Beijing Junzheng, with Q1 revenue of 1.06 billion yuan, a 5.3% year-on-year increase, and anticipated market recovery [3] - Keli Sensor, reporting a net profit of 76 million yuan in Q1, a nearly 76% year-on-year increase [3] - Nanshan Zhishang, recognized for its leading position in domestic wool spinning and new materials applications [3][4] Group 3: Downgraded Stocks - Several coal stocks have been downgraded, including: - Shanxi Coking Coal and Pingmei Shenma, downgraded to "overweight" due to weak coking coal prices [5] - Shanmei International, also downgraded to "overweight" despite low mining costs and potential production increases [5] - The tourism sector has seen downgrades, such as: - Jinjiang Hotels, with a Q1 net profit of 36 million yuan, down 81% year-on-year [5] - Miao Exhibition, downgraded due to declining revenue amid intensified competition [6] Group 4: Market Outlook - Brokerages are optimistic about AI and high-dividend sectors for May, with expectations of a continued oscillating market [7] - Recommendations include focusing on three main directions: financial dividends, self-sufficiency in industries like military, and domestic consumption [7] - The market is expected to follow a gentle recovery path, with attention on cyclical sectors and growth styles, particularly in AI and robotics [7]