WANTONG TECH: Net loss of 37.4425 million yuan in the first half of 2025, turning from profit to loss year-on-year

WANTONG TECH announced that in the first half of 2025, operating revenue was 324 million yuan, a year-on-year decrease of 5.66%; net profit was -37.4425 million yuan, compared to a net profit of -7.3433 million yuan in the same period last year. During the reporting period, the company implemented a restricted stock incentive plan, with stock incentive expenses amortized at approximately 16.38 million yuan; the subsidiary HuTong LiSheng faced cash flow pressure due to the impact of downstream customer payments, which limited market expansion, resulting in declines in both operating revenue and net profit; according to the relevant provisions of the "Enterprise Accounting Standards," based on the principle of prudence, the company made provisions for impairment losses on related assets that may occur within the scope of the consolidated financial statements, which will reduce current profits. A combination of multiple factors led to declines in both revenue and profit in the first half of the year