Market Overview - The cement sector experienced a decline of 0.25% on August 28, with Sifang New Materials leading the drop [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - Notable gainers in the cement sector included: - Ningxia Building Materials: closed at 14.17, up 1.87% with a trading volume of 174,800 shares and a turnover of 245 million yuan [1] - Sichuan Jinding: closed at 10.24, up 0.89% with a trading volume of 300,100 shares and a turnover of 300 million yuan [1] - Huaxin Cement: closed at 15.80, up 0.45% with a trading volume of 205,900 shares and a turnover of 323 million yuan [1] - Conversely, Sifang New Materials led the decline, closing at 13.60, down 2.30% with a trading volume of 64,800 shares and a turnover of approximately 87.58 million yuan [2] Capital Flow Analysis - The cement sector saw a net outflow of 570 million yuan from institutional investors, while retail investors contributed a net inflow of 597 million yuan [2] - The capital flow for individual stocks showed mixed results, with some stocks experiencing significant outflows from institutional investors [3] - For instance, Ningxia Building Materials had a net inflow of 9.04 million yuan from institutional investors, while Sifang New Materials saw a net outflow of 2.30% [3]

据证券之星公开数据整理，近期国统股份(002205)发布2025年中报。截至本报告期末，公司营业总收入 1.9亿元，同比上升6.96%，归母净利润-2527.63万元，同比上升45.47%。按单季度数据看，第二季度营 业总收入1.63亿元，同比上升30.73%，第二季度归母净利润624.96万元，同比上升124.51%。本报告期 国统股份盈利能力上升，毛利率同比增幅34.66%，净利率同比增幅35.01%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率38.94%，同比增34.66%，净利率-17.5%，同比 增35.01%，销售费用、管理费用、财务费用总计1.02亿元，三费占营收比53.72%，同比增0.28%，每股 净资产1.92元，同比减39.07%，每股经营性现金流-0.16元，同比减181.51%，每股收益-0.14元，同比增 45.47% 的ROIC为-7.28%，投资回报极差。公司历史上的财报非常一般，公司上市来已有年报16份，亏损 年份4次，如无借壳上市等因素，价投一般不看这类公司。 财报体检工具显示： 最近有知名机构关注了公司以下问题： 问：2025年半年度经营情况 财务报表中对有大幅变 ...

Market Overview - On August 27, the cement sector declined by 2.25%, with Guotong Co. leading the drop [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 - Guotong Co. (002205) closed at 13.87, down 5.58% with a trading volume of 136,200 shares and a turnover of 195 million yuan [1] - Sichuan Jinding (600678) closed at 10.15, down 4.87% with a trading volume of 374,500 shares [1] - Ningxia Building Materials (600449) closed at 13.91, down 4.20% with a trading volume of 170,100 shares [1] - Xizang Dalu (600326) closed at 14.57, down 4.02% with a trading volume of 1,606,400 shares [1] - Other notable declines include Sanhe Yingshao (003037) down 3.98% and Xibu Construction (002302) down 3.48% [1] Capital Flow Analysis - The cement sector experienced a net outflow of 613 million yuan from institutional investors, while retail investors saw a net inflow of 706 million yuan [1] - The table of capital flow indicates that Guotong Co. had a net outflow of 8,079 yuan from institutional investors, while retail investors contributed a net inflow of 496,200 yuan [2] - Other companies like Fujian Cement and Longquan Co. also showed significant net outflows from institutional investors, indicating a trend of capital withdrawal from the sector [2]

Core Viewpoint - Guotong Co., Ltd. (002205) reported a revenue increase of 6.96% year-on-year for the first half of 2025, with a total revenue of 1.9 billion yuan and a significant improvement in net profit loss compared to the previous year [1] Financial Performance Summary - Total revenue for the first half of 2025 reached 1.9 billion yuan, up from 1.77 billion yuan in the same period of 2024, reflecting a growth of 6.96% [1][4] - The net profit attributable to shareholders improved to -2527.63 million yuan, a 45.47% increase from -4635.14 million yuan in 2024 [1] - The gross profit margin increased to 38.94%, up 34.66% year-on-year, while the net profit margin improved to -17.5%, a 35.01% increase [1] - The total of selling, administrative, and financial expenses was 1.02 billion yuan, accounting for 53.72% of revenue, with a slight increase of 0.28% year-on-year [1] - Earnings per share improved to -0.14 yuan, a 45.47% increase from -0.25 yuan in the previous year [1] Cash Flow and Debt Management - The company reported a significant decrease in operating cash flow per share to -0.16 yuan, down 181.51% year-on-year, attributed to increased cash payments for goods and services [1][8] - The short-term borrowings decreased by 27.59% due to repayments made during the period [2] - Long-term borrowings also saw a reduction of 15.2% as a result of repayments [2] - Cash and cash equivalents increased by 9.28%, driven by improved net cash flow from financing activities [11] Operational Insights - The company experienced a 30.73% increase in revenue for the second quarter of 2025, totaling 1.63 billion yuan, with a net profit of 624.96 million yuan, marking a 124.51% increase year-on-year [1] - The company’s cash flow situation is concerning, with a cash ratio of 10.3% and negative operating cash flow over the past three years [12] - The company is expected to see a net profit range of -32 million to -20 million yuan for the first half of 2025, indicating a year-on-year growth of 30.96% to 56.85% [12]

Group 1 - The core viewpoint of the article is that Guotong Co., Ltd. announced its financial performance for the first half of 2025, highlighting its revenue composition and market capitalization [1] - The company held its 17th board meeting on August 25, 2025, to review the semi-annual report and its summary [1] - For the first half of 2025, the revenue composition of Guotong Co., Ltd. was as follows: Industrial accounted for 87.69%, Municipal construction for 9.77%, Other businesses for 1.4%, and Construction installation services for 1.13% [1] Group 2 - As of the report, Guotong Co., Ltd. has a market capitalization of 2.7 billion yuan [1]

Core Insights - The company reported a revenue of 189.81 million yuan for the first half of the year, representing a year-on-year growth of 6.96% [1] - The overall gross profit margin increased to 38.94%, up by 10.02% year-on-year, while the gross profit margin for PCCP rose to 36.89%, reflecting a 12.57% increase [1] - The net profit attributable to shareholders was -25.28 million yuan, showing a year-on-year increase of 45.47% in losses [1] Financial Performance - Revenue: 189.81 million yuan, up 6.96% year-on-year [1] - Operating costs: 115.91 million yuan, down 8.12% year-on-year [1] - Overall gross profit margin: 38.94%, up 10.02% year-on-year [1] - PCCP gross profit margin: 36.89%, up 12.57% year-on-year [1] - Sales profit margin: -17.65%, up 8.47% year-on-year [1] Expense Analysis - Sales expenses: 1.43 million yuan, down 40.53% year-on-year [1] - Management expenses: 49.45 million yuan, up 18.66% year-on-year [1] - Financial expenses: 51.10 million yuan, up 0.18% year-on-year [1] Cash Flow and Debt - Net cash flow from operating activities decreased by 181.51% due to increased cash payments for purchased goods and services [1] - The total interest-bearing liabilities increased, leading to a rising asset-liability ratio as the PPP business continues to progress [1]

新疆国统管道股份有限公司 2025 年半年度财务报告 新疆国统管道股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 新疆国统管道股份有限公司 2025 年半年度财务报告 第一节 财务报告 一、审计报告 公司半年度财务报告未经审计。 二、财务报表 1、合并资产负债表 编制单位：新疆国统管道股份有限公司 | | 2025 年 06 月 30 | 日 | 单位：元 | | --- | --- | --- | --- | | 项目 | | 期末余额 | 期初余额 | | 流动资产： | | | | | 货币资金 | | 158,020,587.18 | 176,583,857.29 | | 结算备付金 | | | | | 拆出资金 | | | | | 交易性金融资产 | | | | | 衍生金融资产 | | | | | 应收票据 | | 1,430,000.00 | 16,767,158.04 | | 应收账款 | | 598,792,147.57 | 513,938,909.59 | | 应收款项融资 | | 1,073,657.00 | 24,499,068.34 | | 预付款项 | | 34 ...

法定代表人：姜少波 主管会计工作的负责人：杭宇 会计机构负责人：李鹏 | 编制单位：新疆国统管道股份有限公司 | | | | | | | | | | | | | | | 单位：万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司 的关联关系 | 上市公司核算的会计 科目 | 2025年期初占用资金 余额 | 2025半年度占用累计发生 金额（不含利息） | 2025半年度占用资金 的利息（如有） | 2025半年度偿还累计 | | | 2025半年期末占用资 金余额 | | | | 占用形成原因 | 占用性质 | | 控股股东、实际控制人及其 | | | | | | | | | | | | | | | 非经营性占用 | | 附属企业 小 计 | —— | —— | —— | - | | - | - | | - | | | - | | —— | —— | | 前控股股东、实际控制人及 | | | | ...

新疆国统管道股份有限公司监事会 本次会议以书面表决方式通过了以下决议： 6票赞成，0票反对，0票弃权审议通过了《新疆国统管道股份有 限公司2025年半年度报告及其摘要》。 经审核，新疆国统管道股份有限公司监事会认为董事会编制和审 核新疆国统管道股份有限公司 2025 年半年度报告的程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了 上市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗 漏。 《新疆国统管道股份有限公司 2025 年半年度报告》全文及摘要 登载于巨潮资讯网 http://www.cninfo.com.cn。同时，《2025 年半年度 报告摘要》还将登载于《证券时报》、《中国证券报》。 特此公告 证券代码：002205 证券简称：国统股份 编号：2025－040 新疆国统管道股份有限公司 第六届监事会第十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 新疆国统管道股份有限公司（以下简称"公司"）第六届监事会 第十六次会议通知于 2025 年 8 月 14 日以电子邮件方式送达，并于 2025 年 ...

新疆国统管道股份有限公司 2025 年半年度报告全文 新疆国统管道股份有限公司 2025 年半年度报告 2025 年 8 月 1 新疆国统管道股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人姜少波、主管会计工作负责人杭宇及会计机构负责人(会计主 管人员)李鹏声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告第三节"管理层讨论与分析"之"十、公司面临的风险和应对措施"部 分，描述了公司可能存在的风险及应对的措施，敬请投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | P | N | | --- | --- | | | | | 第二节 | 公司简介和主要财务指标 6 | | --- | --- | | 第三节 | 管理层讨论与分析 9 | | 第四节 | 公司治理、环境和社会 29 | | 第五节 | 重要事项 21 | | 第六节 | ...