Core Viewpoint - Shanghai JianKe (603153) reported a slight increase in total revenue and a significant rise in net profit for the first half of 2025, indicating stable business performance despite challenges in cash flow and receivables management [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 reached 1.935 billion yuan, a year-on-year increase of 0.6% [1]. - Net profit attributable to shareholders was 23.76 million yuan, up 48.57% year-on-year [1]. - In Q2 2025, total revenue was 1.003 billion yuan, with a slight increase of 0.59% year-on-year, while net profit decreased by 4.54% to 15.48 million yuan [1]. - Gross margin improved to 27.92%, an increase of 3.68% year-on-year, while net margin rose to 1.28%, up 34.58% [1]. - Total expenses (selling, administrative, and financial) amounted to 373 million yuan, accounting for 19.25% of revenue, a rise of 4.78% year-on-year [1]. Cash Flow and Receivables - The company reported a significant receivables issue, with accounts receivable amounting to 1.773 billion yuan, representing 517.67% of the net profit [1][3]. - Operating cash flow per share was -1.44 yuan, a decrease of 9.21% year-on-year, attributed to increased employee costs and taxes due to business expansion [1][2]. Investment and Financing Activities - Investment cash flow showed a drastic decline of 282.27%, primarily due to increased structured deposits and payments for subsidiary acquisitions [3]. - Financing cash flow increased by 62.72%, as no dividends were paid in the current period compared to the previous one [3]. Business Model and Market Position - The company relies heavily on research and development for its performance, with a return on invested capital (ROIC) of 7.88% last year, indicating average capital returns [3]. - The detection and technical services segment saw a revenue increase of 11.72% year-on-year, driven by market expansion and acquisitions [3].

Core Insights - Shanghai JianKe Consulting Group Co., Ltd. reported a revenue of 1.935 billion yuan for the first half of 2025, reflecting a year-on-year growth of 0.60% [1] - The net profit attributable to shareholders reached 23.76 million yuan, marking a significant increase of 48.57% compared to the previous year [1] Business Performance - The core business segment, engineering consulting services, generated 1.108 billion yuan in revenue, accounting for 57.37% of total revenue [1] - The testing and technical services segment achieved a revenue of 603 million yuan, representing 31.19% of total revenue [2] - Environmental low-carbon technology services contributed 160 million yuan, making up 8.27% of total revenue [2] - Special engineering and product sales generated 52.66 million yuan, accounting for 2.73% of total revenue [2] Strategic Developments - The company successfully completed a merger with Shanghai Investment Consulting Group Co., Ltd., enhancing performance evaluation and distribution mechanisms, and optimizing management costs [2] - This strategic integration is expected to facilitate future business collaboration and value release [2] Market Expansion - In response to a challenging market environment, the company intensified its market penetration efforts, engaging with government departments and key enterprises [3] - The company made significant strides in the North China and Xiong'an regions and established subsidiaries in Guangdong and Hubei to strengthen its presence in the South China market [3]

Core Viewpoint - The company, Shanghai JianKe Consulting Group Co., Ltd., reported a revenue of 4.152 billion yuan and a net profit of 343 million yuan for the year 2024, reflecting growth rates of 3.54% and 8.49% respectively, amidst a challenging economic environment [19][38]. Group 1: Economic Environment and Industry Trends - The national GDP exceeded 130 trillion yuan in 2024, with a year-on-year growth of 5.0%, while fixed asset investment grew by 3.2%, indicating a mixed outlook for the construction industry [2]. - The construction sector faced significant pressure with a 1.9% decline in construction investment and a 10.6% drop in real estate development investment [2]. - Government initiatives, including the issuance of 1 trillion yuan in long-term special bonds, are expected to support infrastructure projects and enhance local government credit levels, providing new momentum for industry development [2][4]. Group 2: Company Business Overview - The company focuses on technology innovation and professional technical services, with key business segments including engineering consulting, testing and technical services, and environmental low-carbon technology services [8]. - The engineering consulting segment remains a core business, with the company maintaining a leading position in the national construction engineering supervision rankings [9]. - The company has expanded its service offerings to include comprehensive solutions for urban renewal, safety resilience, and green ecological development [12][14]. Group 3: Financial Performance - In 2024, the company achieved a net profit of 343 million yuan, with a net profit excluding non-recurring items of 276 million yuan, marking a 16.46% increase [19]. - The company plans to distribute a cash dividend of 2.55 yuan per 10 shares to shareholders, without any capital reserve transfer or bonus shares [1]. Group 4: Future Outlook and Strategic Initiatives - The company is positioned to benefit from the government's focus on urban renewal and resilience, with significant investments planned in infrastructure and public services [4][5]. - The rise of low-altitude economy and digital transformation initiatives are expected to drive new growth opportunities within the industry [6]. - The company is actively pursuing digitalization in its testing and technical services, aiming to enhance operational efficiency and service quality [12].

股票简称：上海建科 股票代码：603153 上海建科集团股份有限公司 Shanghai Research Institute of Building Sciences Group Co., Ltd. （上海市徐汇区宛平南路 75 号） 首次公开发行股票 上市公告书 联席保荐机构（联席主承销商） 住所：新疆乌鲁木齐市高新区（新市区）北 京南路 358 号大成国际大厦 20 楼 2004 室 住所：上海市广东路 689 号 二〇二三年三月十日 0 上海建科集团股份有限公司 上市公告书 特别提示 上海建科集团股份有限公司（以下简称"上海建科"、"发行人"、"本公司" 或"公司"）股票将于 2023 年 3 月 13 日在上海证券交易所上市。本公司提醒投 资者应充分了解股票市场风险及本公司披露的风险因素，在新股上市初期切忌盲 目跟风"炒新"，应当审慎决策、理性投资。 1 上海建科集团股份有限公司 上市公告书 第一节 重要声明与提示 本公司及全体董事、监事、高级管理人员保证上市公告书所披露信息的真实、 准确、完整，承诺上市公告书不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 上海证券交易所、其他政 ...

上海建科集团股份有限公司 招股说明书摘要 上海建科集团股份有限公司 Shanghai Research Institute of Building Sciences Group Co., Ltd. （上海市徐汇区宛平南路 75 号） 发行人声明 本招股说明书摘要的目的仅为向公众提供有关本次发行的简要情况，并不 包括招股说明书全文的各部分内容。招股说明书全文同时刊载于上海证券交易 所网站。投资者在做出认购决定之前，应仔细阅读招股说明书全文，并以其作 为投资决定的依据。 投资者若对本招股说明书摘要存在任何疑问，应咨询自己的股票经纪人、 律师、会计师或其他专业顾问。 发行人及全体董事、监事、高级管理人员承诺招股说明书及其摘要不存在 虚假记载、误导性陈述或重大遗漏，并对招股说明书及其摘要的真实性、准确 性、完整性承担个别和连带的法律责任。 首次公开发行股票招股说明书摘要 联席保荐机构（联席主承销商） 住所：新疆乌鲁木齐市高新区（新市区）北 京南路 358 号大成国际大厦 20 楼 2004 室 住所：上海市广东路 689 号 上海建科集团股份有限公司 招股说明书摘要 公司负责人和主管会计工作的负责人、会计机构负责人保 ...

上海建科集团股份有限公司 招股说明书 上海建科集团股份有限公司 Shanghai Research Institute of Building Sciences Group Co., Ltd. （上海市徐汇区宛平南路 75 号） 首次公开发行股票招股说明书 联席保荐机构（联席主承销商） 住所：新疆乌鲁木齐市高新区（新市区）北 京南路 358 号大成国际大厦 20 楼 2004 室 住所：上海市广东路 689 号 上海建科集团股份有限公司 招股说明书 发行概况 | 股票种类 | 人民币普通股（A 股） | | --- | --- | | 每股面值 | 人民币 元 1.00 | | | 本次公开发行股票的数量为 5,500 万股，全部为公开发行的新股， | | 发行股数及比例 | 相关老股东不公开发售股份。本次公开发行后的流通股数量占公 | | | 司发行后总股本的比例为 13.42% | | 每股发行价 | 人民币 11.47 元/股 | | 发行日期 | 2023 年 3 月 1 日 | | 拟上市证券交易所 | 上海证券交易所 | | | 万股 | | A 股发行后总股本 | 40,986.1106 | | ...

上海建科集团股份有限公司 招股意向书 上海建科集团股份有限公司 Shanghai Research Institute of Building Sciences Group Co., Ltd. （上海市徐汇区宛平南路 75 号） 首次公开发行股票招股意向书 联席保荐机构（联席主承销商） 住所：新疆乌鲁木齐市高新区（新市区）北 京南路 358 号大成国际大厦 20 楼 2004 室 住所：上海市广东路 689 号 上海建科集团股份有限公司 招股意向书 发行概况 | 股票种类 | 人民币普通股（A 股） | | --- | --- | | 每股面值 | 人民币 1.00 元 | | | 本次公开发行股票的数量为 5,500 万股，全部为公开发行的新股， | | 发行股数及比例 | 相关老股东不公开发售股份。本次公开发行后的流通股数量占公 | | | 司发行后总股本的比例为 13.42% | | 每股发行价 | 人民币【】元/股 | | 发行日期 | 2023 年 3 月 1 日 | | 拟上市证券交易所 | 上海证券交易所 | | | 万股 | | A 股发行后总股本 | 40,986.1106 | | | 1、 ...

上海建科集团股份有限公司 招股意向书摘要 上海建科集团股份有限公司 Shanghai Research Institute of Building Sciences Group Co., Ltd. （上海市徐汇区宛平南路 75 号） 首次公开发行股票招股意向书摘要 联席保荐机构（联席主承销商） 住所：新疆乌鲁木齐市高新区（新市区）北 京南路 358 号大成国际大厦 20 楼 2004 室 住所：上海市广东路 689 号 上海建科集团股份有限公司 招股意向书摘要 发行人声明 本招股意向书摘要的目的仅为向公众提供有关本次发行的简要情况，并不 包括招股意向书全文的各部分内容。招股意向书全文同时刊载于上海证券交易 所网站。投资者在做出认购决定之前，应仔细阅读招股意向书全文，并以其作 为投资决定的依据。 投资者若对本招股意向书摘要存在任何疑问，应咨询自己的股票经纪人、 律师、会计师或其他专业顾问。 发行人及全体董事、监事、高级管理人员承诺招股意向书及其摘要不存在 虚假记载、误导性陈述或重大遗漏，并对招股意向书及其摘要的真实性、准确 性、完整性承担个别和连带的法律责任。 公司负责人和主管会计工作的负责人、会计机构负责人保 ...