Recently, Shengshi Technology (002990) announced that the company held a board meeting on February 13 to review and approve the proposal to establish a wholly-owned subsidiary, Shenzhen Shengxin Investment Co., Ltd., with a registered capital of 200 million yuan. The company holds 100% of its equity. The investment funds are all the company’s own funds.
Regarding the purpose of this investment, Shengshi Technology stated that external investment is an important measure for the company to improve its industrial layout and promote extended development. The company has established a wholly-owned subsidiary, Simpson Thacher Investment Company, as a dedicated platform for the company's external investment, which will help the company improve its business structure and promote external investment matters.
In terms of risks, the establishment of an investment subsidiary this time will involve certain investment risks due to changes in the industry environment and uncertainty in the investment returns of the target company. In this regard, the company will actively improve the legal person governance structure of its subsidiaries and strengthen internal control management of external investments to reduce investment risks.
Data show that Shengshi Technology Co., Ltd.’s main business is research on new generation information technologies such as artificial intelligence, big data, and the Internet of Things, providing intelligent products and “AI+ industry” solutions that are in line with future development, as well as smart society construction services. The company's main products are smart ports, smart transportation, smart airports, other artificial intelligence products and "AI+ industry" applications.
Shengshi Technology's revenue and net profit have both declined in 2024, and the decline in net profit is expected to further expand in 2025. The company expects the full-year net profit attributable to the parent company to be 62 million yuan to 87 million yuan, a year-on-year decrease of 50.26% to 64.55%; the non-net profit after deducting is expected to be 51 million yuan to 72 million yuan, a year-on-year decrease of 50.79% to 65.15%.
Regarding the performance changes, Shengshi Technology explained that due to the impact of the settlement cycle, payment collection for some projects was delayed, and the company needed to make asset impairment provisions, which had a greater impact on the company's net profit for the current period.
In 2025, the company implemented the 2024 restricted stock incentive plan, and the confirmed share-based payment expenses increased compared with the same period last year; at the same time, the company increased investment in new business research and development, and research and development expenses increased.
In the secondary market, as of the close of trading on February 13, Shengshi Technology rose 1.19% to 28.06 yuan per share, with a total market value of approximately 7.348 billion yuan, a cumulative decline of approximately 16% in the past year.
