Core Viewpoint - Shanghai Hanxun reported a significant increase in revenue for the first half of 2025, but continued to face net losses, indicating ongoing financial challenges despite revenue growth [1][2]. Financial Performance Summary - For the first half of 2025, the company achieved operating revenue of 173.49 million yuan, a year-on-year increase of 63.34% compared to 106.22 million yuan in the same period last year [2]. - The net profit attributable to shareholders was -28.64 million yuan, an improvement of 44.97% from -52.05 million yuan in the previous year [2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -39.79 million yuan, a 32.35% improvement from -58.82 million yuan year-on-year [2]. - The net cash flow from operating activities was -116.05 million yuan, showing an 11.22% improvement from -130.71 million yuan in the same period last year [2]. Previous Year Comparison - In 2024, the company reported operating revenue of 353.33 million yuan, a 12.97% increase from 312.75 million yuan in 2023 [3]. - The net profit attributable to shareholders for 2024 was -123.89 million yuan, a 34.71% improvement from -189.76 million yuan in 2023 [3]. - The net profit after deducting non-recurring gains and losses was -150.27 million yuan, a 33.32% improvement from -225.35 million yuan in 2023 [3]. - The net cash flow from operating activities improved significantly to -107.46 million yuan from -303.96 million yuan in 2023, marking a 64.65% improvement [3]. Fundraising and Financial Activities - Shanghai Hanxun raised a total of 543 million yuan through its initial public offering, with a net amount of 490 million yuan allocated for various military communication projects and technology development [4]. - In 2020, the company raised 1 billion yuan through a private placement, with a net amount of approximately 993.31 million yuan after deducting issuance costs [5]. - The total fundraising from both public and private placements amounted to 1.54 billion yuan [5].

Core Points - Shanghai Hanxun reported a revenue of 353.33 million yuan for 2024, representing a year-on-year increase of 12.97% compared to 2023 [1][2] - The net profit attributable to shareholders was -123.89 million yuan, an improvement of 34.71% from -189.76 million yuan in 2023 [1][2] - The net profit after deducting non-recurring gains and losses was -150.27 million yuan, a 33.32% improvement from -225.35 million yuan in the previous year [1][2] - The net cash flow from operating activities was -107.46 million yuan, significantly improved from -303.96 million yuan in 2023, marking a 64.65% increase [1][2] - The company plans not to distribute cash dividends or issue bonus shares [2] 2025 Q1 Performance - In Q1 2025, the company achieved a revenue of 125.53 million yuan, showing a substantial year-on-year growth of 84.41% [3][4] - The net profit attributable to shareholders was 13.23 million yuan, a significant turnaround from -10.04 million yuan in the same period of 2023, reflecting a 231.84% increase [3][4] - The net profit after deducting non-recurring gains and losses was 7.10 million yuan, compared to -13.29 million yuan in the previous year, indicating a 153.37% improvement [3][4] - The net cash flow from operating activities was -50.81 million yuan, an improvement of 36.30% from -79.77 million yuan in the same quarter of the previous year [3][4] Fundraising and Financial Activities - Shanghai Hanxun raised a total of 543 million yuan through its IPO, with a net amount of 490 million yuan allocated for various military communication projects and technology development [5] - The total fundraising from two rounds of financing amounted to 1.543 billion yuan [7]