中加专精特新量化选股混合发起式A（021990）基金经理为林沐尘。 从基金十大重仓股角度 数据显示，中加基金旗下1只基金重仓碧兴物联。中加专精特新量化选股混合发起式A（021990）二季 度持有股数5.72万股，占基金净值比例为1.7%，位居第八大重仓股。根据测算，今日浮亏损失约6.92万 元。 中加专精特新量化选股混合发起式A（021990）成立日期2024年11月12日，最新规模2901.92万。今年以 来收益57.52%，同类排名331/8194；成立以来收益56.91%。 截至发稿，林沐尘累计任职时间2年124天，现任基金资产总规模2.73亿元，任职期间最佳基金回报 56.91%， 任职期间最差基金回报7.13%。 8月27日，碧兴物联跌5.07%，截至发稿，报22.66元/股，成交3549.81万元，换手率3.23%，总市值17.79 亿元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 资料显示，碧兴物联科技(深圳)股份有限公司位于广东省深圳市宝安区西乡街道 ...

（文章来源：证券时报网） 8月26日晚间，碧兴物联（688671.SH）披露半年报，上半年公司营业收入1.11亿元，同比增长11.16%， 主要受益于存量环境监测仪器及系统业务和数字公安业务增长，同时数字农业和数字水利业务稳步发 展。但由于环境监测行业设备增量需求转弱，公司高毛利产品销售承压，且部分客户销售回款放缓，公 司上半年亏损2391.32万元。 在数字生态方面，"三智一体"是生态治理模式从"被动响应"向"主动防控"转型的重要抓手。碧兴物联积 极顺应国家战略，自主研发的三智一体（智能水站、智能采样、智能实验室）智慧化设备体系已初步完 成。随着中国环境监测总站"三智一体"试点开展及总体规划，并依据生态环境部的要求，公司在北京、 深圳、广西、安徽等地建设了数智化水站试点项目，在河南、辽宁、吉林等省站开展数智化水站试点。 此外公司还通过强化成本费用控制，推进各项工作实现提质增效，推动各业务板块稳步发展。（文穗） 碧兴物联上半年研发费用为2197.08万元，创半年度新高，同比增加22.38%，营收占比提升至19.74%。 在业绩承压情况下，公司持续加大研发投入，显示了管理层对未来长期发展的信心，也给公司带来了丰 ...

人民财讯8月26日电，碧兴物联(688671)8月26日晚间披露2025年半年报，上半年实现营业收入1.11亿 元，同比增长11.16%；归母净利润-2391.32万元；基本每股收益-0.3元。报告期内，公司实现营业收入 较上年同期增加，主要为存量环境监测仪器及系统业务和数字公安业务在本期确认的收入有所增长，同 时数字农业和数字水利业务持续实现收入。 ...

Core Viewpoint - The company, Bixing Wulian, has faced significant financial challenges post-IPO, including declining revenues, increasing losses, and lack of progress on fundraising projects, raising concerns about its operational viability and financial health [1][2][3]. Group 1: Financial Performance - In 2024, the company reported a revenue of 329 million yuan, a year-on-year decline of 5.91%, marking three consecutive years of revenue decrease [1]. - The net profit attributable to shareholders was -39 million yuan, a staggering year-on-year decline of 264.92% [1]. - The company's gross margin has significantly decreased post-IPO, with a drop of approximately 7 percentage points in both 2023 and 2024 compared to pre-IPO levels [4][6]. Group 2: Gross Margin Comparison - Bixing Wulian's gross margin was over 30% during the IPO application period (2020-2022) but fell sharply after listing, contrasting with peers who maintained stable or slightly improved margins [4][5]. - In 2024, Bixing Wulian's gross margin was reported at 24.31%, significantly lower than its competitors [5][6]. Group 3: Accounts Receivable Issues - The company has seen a substantial increase in overdue accounts receivable, with 65% of accounts over one year old by the end of 2024, raising concerns about the collectability of these receivables [10][12]. - The company reported a credit impairment loss of 37.76 million yuan in 2024, primarily due to delayed payments from clients, particularly local governments [7][10]. Group 4: Fundraising and Project Progress - Bixing Wulian raised 623 million yuan through its IPO, exceeding its target by 51%, but only 6% of the funds had been utilized for project development by the end of 2024 [14][16]. - The company has made little to no progress on its major fundraising projects, with some projects showing 0% investment completion [16][17]. Group 5: Regulatory Scrutiny and Management Changes - The company has faced regulatory scrutiny, receiving multiple inquiries from the Shenzhen Securities Regulatory Bureau and the Shanghai Stock Exchange regarding its financial disclosures and performance [18][20]. - The financial director resigned shortly after the release of the 2024 annual report, indicating potential internal issues within the management team [21]. Group 6: Continued Losses - In the first quarter of 2025, the company reported a revenue of 52.83 million yuan, a year-on-year increase of 9.25%, but still incurred a net loss of 10.22 million yuan, marking the seventh consecutive quarter of losses [24].

Core Viewpoint - Bixing Wulian's performance has drastically changed post-IPO, raising questions about the authenticity of its financial data and potential irregularities surrounding its listing [1][2][4] Group 1: Performance and Financial Data - Bixing Wulian reported a revenue of 329 million yuan in 2024, a decrease of 5.91% year-on-year, and a net loss of 38.54 million yuan, a decline of 264.92% [2] - The company experienced a significant performance drop after its IPO, with a net loss of 10.22 million yuan in Q1 2024, a decrease of 443.46% year-on-year [2] - The company has faced continuous regulatory inquiries since its listing, indicating concerns about the authenticity of its financial data [2][4] Group 2: IPO and Valuation Concerns - Bixing Wulian's IPO was marked by a significant valuation increase, with a registered capital increase from 53 million yuan to 58.89 million yuan, raising its valuation to approximately 900 million yuan [9][10] - The company’s financial performance prior to its IPO showed substantial growth, with revenue growth rates of 13.52% and 40.3% in 2020 and 2021, respectively [4] - There are discrepancies between Bixing Wulian's reported data and that of its industry peers, raising questions about the accuracy of its financial disclosures [7] Group 3: Customer Relationships and Transactions - Shanghai Koze became Bixing Wulian's largest customer in 2022, contributing 57.69 million yuan in sales, which accounted for 12.21% of total revenue [18] - There are concerns regarding the high performance bond ratios in contracts with Shanghai Koze, which exceed standard industry practices [24][25] - Bixing Wulian's relationship with former employees who now work for Shanghai Koze raises potential conflicts of interest and questions about the legitimacy of business dealings [20][21] Group 4: Regulatory and Compliance Issues - The company has faced criticism from regulators for its slow project progress and failure to disclose significant contracts in a timely manner [30] - Bixing Wulian's core investment projects have seen minimal progress, with completion rates of 0% and 6.57% for key initiatives as of the end of 2024 [30] - The company has been subject to public criticism and regulatory scrutiny due to its financial practices and governance issues [30]