Market Overview - The marine equipment sector increased by 0.81% on August 29, with Zhongke Haixun leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Notable stock performances include: - Yihard Technology (300810) rose by 4.29% to a closing price of 53.94 [1] - Guorui Technology (300600) increased by 3.71% to 19.27 [1] - China Shipbuilding (600150) saw a 1.52% rise, closing at 37.38 [1] - Hailanxin (300065) and China Ship Defense (600685) had smaller increases of 1.15% and 0.61%, respectively [1] - Tianhai Defense (300008) and Jianglong Shipbuilding (300589) experienced slight declines of 0.13% and 0.48% [1] Capital Flow - The marine equipment sector had a net inflow of 154 million yuan from institutional investors, while retail investors saw a net outflow of 144 million yuan [1] - Detailed capital flow for key stocks includes: - China Shipbuilding had a net inflow of 91.36 million yuan from institutional investors [2] - Zhongke Haixun attracted 70.05 million yuan, but retail investors withdrew 83.70 million yuan [2] - Guorui Technology had a net inflow of 19.56 million yuan from institutions, with retail investors withdrawing 18.39 million yuan [2] - China Haifang (600764) saw a net inflow of 6.61 million yuan from institutions, while retail investors withdrew 17.53 million yuan [2]

据证券之星公开数据整理，近期中科海讯（300810）发布2025年中报。截至本报告期末，公司营业总收 入9596.68万元，同比下降9.61%，归母净利润-6467.71万元，同比下降12.09%。按单季度数据看，第二 季度营业总收入4913.5万元，同比下降12.7%，第二季度归母净利润-3944.77万元，同比上升10.31%。本 报告期中科海讯公司应收账款体量较大，当期应收账款占最新年报营业总收入比达162.84%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率22.13%，同比减46.45%，净利 率-67.73%，同比减24.04%，销售费用、管理费用、财务费用总计2725.25万元，三费占营收比28.4%， 同比增16.46%，每股净资产6.37元，同比减4.33%，每股经营性现金流-0.61元，同比减16.1%，每股收 益-0.55元，同比减12.58% 证券之星价投圈财报分析工具显示： 业务评价：去年的净利率为-10.63%，算上全部成本后，公司产品或服务的附加值不高。从历史年报数 据统计来看，公司上市以来中位数ROIC为1.83%，投资回报一般，其中最惨年份2023年的ROIC 为 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company [2][7]. Core Views - The company faced pressure in H1 2025, with total revenue of 95.97 million yuan, down 9.61% year-on-year, and a net profit attributable to shareholders of -64.68 million yuan, a decrease of 12.09% year-on-year [1][5]. - The increase in contract liabilities to a historical high of 112 million yuan, up 33% from the beginning of the year, indicates strong downstream demand [5]. - The company is actively exploring AI-enabled underwater equipment and has developed a high-performance computing platform based on GPU chips [5]. - A stock incentive plan was introduced to enhance management and core staff motivation, reflecting confidence in future business expansion and performance improvement [5]. Financial Performance - For H1 2025, the revenue breakdown by product shows: - Signal processing platform: revenue of 40.25 million yuan, down 54.45% year-on-year, with a gross margin decrease of 11.07 percentage points to 34.57% - Sonar system: revenue of 16.98 million yuan, up 13.27% year-on-year, with a gross margin increase of 0.21 percentage points to 13.27% - Underwater big data and simulation system: revenue of 37.29 million yuan, up 3160.65% year-on-year, with a gross margin decrease of 70.58 percentage points to 12.4% [5]. - The overall gross margin for H1 2025 decreased by 19.19 percentage points to 22.13% due to product structure adjustments [5]. - The company’s total market capitalization is 6.4 billion yuan, with a circulating market capitalization of 6.1 billion yuan [2]. Earnings Forecast - The forecast for net profit attributable to shareholders for 2025-2027 is 18 million yuan, 29 million yuan, and 43 million yuan respectively, with corresponding PE ratios of 349, 221, and 148 times [2][8].

Market Overview - The marine equipment sector experienced a decline of 1.45% on August 27, with Guorui Technology leading the losses [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - China Shipbuilding (600150) closed at 36.54, down 0.98% with a trading volume of 983,200 shares and a turnover of 3.629 billion [1] - Tianhai Defense (300008) closed at 7.17, down 2.32% with a trading volume of 1,661,100 shares and a turnover of 1.229 billion [1] - China Marine Defense (600764) closed at 34.57, down 2.92% with a trading volume of 132,600 shares and a turnover of 469 million [1] - China Ship Defense (600685) closed at 28.43, down 3.33% with a trading volume of 174,700 shares and a turnover of 508 million [1] - Yaxing Anchor Chain (601890) closed at 10.28, down 4.90% with a trading volume of 800,900 shares and a turnover of 838 million [1] - Hailanxin (300065) closed at 20.18, down 4.95% with a trading volume of 878,100 shares and a turnover of 1.832 billion [1] - Jianglong Shipbuilding (300589) closed at 14.45, down 5.37% with a trading volume of 227,900 shares and a turnover of 341 million [1] - Zhongke Haixun (300810) closed at 50.80, down 5.59% with a trading volume of 93,300 shares and a turnover of 487 million [1] - Guorui Technology (300600) closed at 18.73, down 6.26% with a trading volume of 234,700 shares and a turnover of 450 million [1] Capital Flow Analysis - The marine equipment sector saw a net outflow of 867 million from institutional investors and 48.28 million from retail investors, while retail investors had a net inflow of 916 million [1] - Individual stock capital flows indicate significant outflows for several companies, with Guorui Technology experiencing a net outflow of 87.17 million, accounting for 19.35% of its capital [2] - Other notable outflows include China Ship Defense with 58.59 million (11.54%) and Yaxing Anchor Chain with 99.32 million (11.85%) [2]

Core Viewpoint - Zhongke Haixun reported a significant loss in the first half of 2025, with a net profit attributable to shareholders of -64.68 million yuan, indicating challenges in financial performance while focusing on specialized electronic information in sonar equipment [1][2] Group 1: Financial Performance - In the first half of 2025, Zhongke Haixun achieved operating revenue of 95.97 million yuan [1] - The net profit attributable to shareholders was -64.68 million yuan, and the net profit after deducting non-recurring gains and losses was -65.32 million yuan [1] Group 2: Industry Focus and Product Development - Zhongke Haixun specializes in the research, production, and sales of sonar equipment related to the national special electronic information industry [1] - The company provides various products including signal processing platforms, sonar systems, underwater big data, simulation training systems, unmanned detection systems, and data computing centers, primarily serving national special departments [1] - The demand for intelligent underwater equipment is increasing due to advancements in big data and artificial intelligence technologies [2] - The company is integrating traditional sonar technology with intelligent technology, developing high-performance computing platforms based on GPU chips and underwater big data collection, analysis, and processing equipment [2]

Core Insights - The company Zhongke Haixun (300810.SZ) reported a revenue of 95.9668 million yuan for the first half of 2025, representing a year-on-year decrease of 9.61% [1] - The net loss attributable to shareholders of the listed company was 64.6771 million yuan, which expanded by 12.09% year-on-year [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 65.3194 million yuan, an increase of 10.97% year-on-year [1] - The basic loss per share was 0.5549 yuan [1]

格隆汇8月26日丨中科海讯(300810.SZ)公布2025年半年度报告，上半年公司实现营业收入9596.68万元， 同比下降9.61%；归属于上市公司股东的净利润-6467.71万元；归属于上市公司股东的扣除非经常性损 益的净利润-6531.94万元；基本每股收益-0.5549元。 ...

北京中科海讯数字科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：北京中科海讯数字科技股份有限公司 单位：元 | 非经营性资 | | 占用方与上 | 上市公司核 | 年初占 2025 | 年上半年度 2025 | 年上半年 2025 | 年上半 2025 | 2025年6月30 | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 金占用 | 资金占用方名称 | 市公司的关 | 算的会计科 | 用资金余额 | 占用累计发生金 | 度占用资金的 | 年度偿还累 | 日占用资金 | 原因 | 占用性质 | | | | 联关系 | 目 | | 额(不含利息) | 利息(如有) | 计发生金额 | 余额 | | | | 控股股东、实 | | | | | | | | | | | | 际控制人及其 | | | | | | | | | | | | 附属企业 | | | | | | | | | | | | 小计 | — | — | — | | | | | | | | | 前控股 ...

证券代码：300810 证券简称：中科海讯 公告编号：2025-086 北京中科海讯数字科技股份有限公司 关于注销崂山分公司的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京中科海讯数字科技股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日以现场结合通讯方式召开第四届董事会第七次会议，审议通过了《关于注 销崂山分公司的议案》，同意注销北京中科海讯数字科技股份有限公司崂山分公 司（以下简称"崂山分公司"），并授权公司管理层负责办理注销崂山分公司的 相关事宜。 本次注销分公司事项在董事会决策范围内，无需提交股东大会审议。本次事 项不涉及关联交易，亦不构成《上市公司重大资产重组管理办法》规定的重大资 产重组。现将具体情况公告如下： 一、本次拟注销分公司的基本情况 企业名称：北京中科海讯数字科技股份有限公司崂山分公司 本次注销崂山分公司系基于公司整体经营规划，旨在进一步整合和优化现有 资源，提高运营效率，降低管理成本，符合公司业务及经营发展的需要。该事项 不会对公司的财务和经营状况产生重大不利影响，不存在损害公司及全体股东尤 其是中小股东利益 ...

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京中科海讯数字科技股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日以现场结合通讯方式召开了第四届董事会第七次会议和第四届监事会第六 次会议，审议通过了《关于 2025 年半年度报告及其摘要的议案》。 证券代码：300810 证券简称：中科海讯 公告编号：2025-080 北京中科海讯数字科技股份有限公司 2025 年半年度报告披露提示性公告 为使投资者全面了解公司的经营情况、财务状况及未来发展规划，公司 2025 年半年度报告及摘要已于 2025 年 8 月 27 日在中国证券监督管理委员会指定创业 板信息披露网站巨潮资讯网（www.cninfo.com.cn）披露，敬请投资者注意查阅。 北京中科海讯数字科技股份有限公司 董事会 2025 年 8 月 27 日 ...