1月4日，南极电商（002127）发布公告称，公司与上海新和兆存在两起诉讼，涉案金额合计超6亿元。下游侵权 行为引发连带责任、许可费用支付中断.....曾经的合作伙伴对簿公堂，商标纠纷谁买单？ 南极电商强调，上海新和兆为逃避赔偿责任，向法院提起针对本公司的不合理高额诉讼，涉嫌严重侵害公司商 业利益、商业形象等合法权益。 具体来看，上海新和兆起诉南极电商，要求调降许可费并赔偿损失，诉讼金额从9525万元变更为5.65亿元。南 极电商则反诉上海新和兆，要求支付因侵权造成的损失、违约金等，诉请金额为8169万元。 事情源于2018年3月，公司与上海新和兆签订《商标授权许可服务合同》，约定公司授权上海新和兆使用卡帝乐 系列商标，许可期限为2018年3月21日至2027年12月31日，上海新和兆按约支付许可使用费及保证金。 公告显示，合同履行过程中，上海新和兆及/或其经销商开设的卡帝乐店铺或销售的商品数次被第三方起诉侵害 商标权，导致公司被列为共同被告，并承担连带责任损失；违反合同约定，存在擅自再许可下游经销商使用授 权商标、擅自修改授权使用商标样式、违反质量管理约定。 此外，公司在业务履约期间多次对上海新和兆发送知识 ...

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025 compared to the same period last year, indicating potential challenges in its operational performance [2][24]. Financial Performance - Total revenue for the reporting period was approximately 1.35 billion yuan, down from 1.56 billion yuan in the same period last year, representing a decrease of about 13.06% [2]. - The net profit attributable to shareholders was approximately 13.62 million yuan, a sharp decline from approximately 77.90 million yuan year-on-year [2]. - The net profit after deducting non-recurring gains and losses was approximately -11.73 million yuan, compared to 68.60 million yuan in the previous year [2]. - The basic and diluted earnings per share were both 0.0057 yuan, down from 0.0325 yuan [2]. - The weighted average return on equity was 0.32%, down from 1.69% year-on-year [2][24]. Cash Flow Analysis - The net cash flow from operating activities was -541.02 million yuan, a decrease of 174 million yuan compared to the previous year [25]. - The net cash flow from financing activities was -102 million yuan, an increase of 92.46 million yuan year-on-year [25]. - The net cash flow from investing activities was -380 million yuan, an improvement from -491 million yuan in the same period last year [25]. Asset and Liability Changes - As of the end of the first half of 2025, total assets were approximately 4.83 billion yuan, down from 5.09 billion yuan at the end of the previous year [2]. - Cash and cash equivalents decreased by 42.77%, while accounts receivable increased by 111.6% [37]. - The company’s inventory value was 100 million yuan, representing 2.42% of net assets, with a provision for inventory impairment of 43.52 million yuan [43]. Shareholder Structure - The top ten shareholders included new entrants such as the National Social Security Fund and Guangzhou Haomeng Computer Technology Co., Ltd. [50]. - Notably, 14.83% of the company's shares were under pledge as of August 22, 2025, with the largest shareholder pledging 2.83 million shares, accounting for 46.23% of their total holdings [50].