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Hangzhou Zongheng Commun

Hangzhou Freely Communication Co., Ltd. and its subsidiaries operate in China, focusing on AI-driven omni-channel digital marketing, the low-altitude economy, and digital infrastructure. The company provides creative content, customized placement strategies, real-time data analysis, and operational optimization, along with full-domain digital marketing services to telecom operators and other entities. It also offers communication network construction and maintenance, product sales and operation, indoor distribution and base station installation, integrated access, and antenna engineering services. Additionally, it develops avionics and flight control systems for eVTOL and medium-to-large UAVs, and provides 5G new infrastructure and digital transformation services to government, enterprise, and large industry sectors. Incorporated in 2006, it is headquartered in Hangzhou, China.

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Price · split & dividend adjusted
News & notes moving 603602.CG
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Zongheng Communication Releases 2026 Interim Report with Net Profit of 14.9241 Million Yuan

Zongheng Communication released its 2026 interim report on August 22, 2026. The company's total operating revenue was 984 million yuan, net profit attributable to the parent company was 14.9241 million yuan, and net cash inflow from operating activities was 97.12 million yuan. The company's latest asset-liability ratio was 58.06 percent, an increase of 2.68 percentage points from the same period last year. The latest gross margin was 15.91 percent, a decrease of 0.11 percentage points from the previous quarter and a decrease of 1.13 percentage points from the same period last year. The latest return on equity was 1.64 percent, and diluted earnings per share was 0.06 yuan. The company's latest total asset turnover was 0.42 times, and the latest inventory turnover was 2.66 times, a decrease of 2.03 percent from the same period last year. The number of shareholders was 25,600, and the top ten shareholders held 86.4235 million shares, accounting for 37.40 percent of the total share capital.
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Zongheng Communications queried over subsidiary's unusual trades; internal control weakness led to 163 million yuan loss last year

Zongheng Communications disclosed its reply to an annual report inquiry, stating that its subsidiary Hangzhou Direction Sense E-commerce Co., Ltd. engaged in significant unusual transactions in a specific project cooperation, causing the company to fully provision asset impairment losses of 150 million yuan in 2025, which became a major factor in the substantial loss of 163 million yuan for the period. The matter has entered judicial proceedings. The company reported the case to the public security authorities in March 2026 and it was accepted; relevant personnel have been subjected to criminal coercive measures. The Shanghai Stock Exchange required the company to explain the reasons for the judicial proceedings and their progress, and to self-examine whether there are material deficiencies in internal control. The company responded that no material deficiencies in internal control over financial reporting were found, but identified the relevant weak control links as general deficiencies in non-financial reporting internal control, and has taken multiple rectification measures.
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