Core Viewpoint - Rapoo Technology (SZ002577) reported a decline in both revenue and profit for the first half of 2025, indicating challenges in the market and increased costs [1][3]. Financial Performance - The company's operating revenue for the first half of 2025 was 208.34 million yuan, a decrease of 5.13% compared to the same period last year [2]. - The net profit attributable to shareholders was 15.30 million yuan, down 28.56% year-on-year [2]. - The net profit after deducting non-recurring gains and losses was 5.97 million yuan, reflecting a significant decline of 58.92% [2]. - Basic earnings per share were 0.0543 yuan, a decrease of 28.27% from the previous year [2]. - The company's gross margin was 28.29%, down 3.10 percentage points year-on-year, while the net profit margin was 7.34%, a decline of 2.41 percentage points [3]. Expense Analysis - Total operating expenses for the period were 44.09 million yuan, an increase of 7.12 million yuan compared to the previous year, with an expense ratio of 21.16%, up 4.33 percentage points [3]. - Sales expenses increased by 9.53%, while management expenses rose by 2.25%. Research and development expenses decreased by 4.84%, and financial expenses surged by 65.24% [3]. Market Challenges - The decline in performance was attributed to several factors, including a decrease in sales revenue in the European market, foreign exchange losses due to currency fluctuations, and increased marketing investments to expand online channels [3].

证券日报网讯 8月4日晚间，雷柏科技发布公告称，截至2025年7月31日，公司通过股份回购专用证券账 户以集中竞价方式累计回购公司股份169，900股，占公司A股总股本的0.0603%。 （编辑 任世碧） ...

格隆汇8月4日丨雷柏科技(002577.SZ)公布，截至2025年7月31日，公司通过股份回购专用证券账户以集 中竞价方式回购公司股份16.99万股，回购总金额为356.6978万元(不含交易费用)，回购股份占公司A股 总股本0.0603%，最高成交价为21.50元/股，最低成交价为19.56元/股。 ...

证券代码：002577 证券简称：雷柏科技 公告编号：2025-044 深圳雷柏科技股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和 完整，没有虚假记载、误导性陈述或重大遗漏。 深圳雷柏科技股份有限公司（以下简称"公司"）于2025年3月31日召开第 五届董事会第十四次会议、2025年4月22日召开2024年年度股东大会审议通过了 《关于回购公司股份方案的议案》，同意公司使用自有资金通过集中竞价交易 回购公司股份，用于注销以减少注册资本。本次回购股份的资金总额不低于人 民币 1,500 万元(含)且不超过人民币 2,250 万元(含)，回购价格不超过人民币 25.90 元/股(含)，具体回购股份数量以回购期限届满或者回购股份实施完毕时 实际回购的股份数量为准。公司已就本次回购股份事项依法履行了通知债权人 的程序，本次回购股份的实施期限自公司股东大会审议通过本次回购方案之日 起12个月内。具体内容详见2025年4月2日、2025年4月23日、2025年4月25日、 2025年5月7日、2025年5月10日、2025年6月4日、2025年7月2日披露于《中国证 券报》 ...

Group 1 - The core point of the article is that Rapoo Technology announced a share buyback plan, intending to repurchase approximately 170,000 shares for a total amount of about 3.57 million yuan, which represents 0.0603% of the company's total A-share capital [2] - The share buyback will be conducted through a centralized bidding method, with a maximum transaction price of 21.5 yuan per share and a minimum transaction price of 19.56 yuan per share [2] - For the first half of 2025, Rapoo Technology's revenue composition shows that consumer electronics accounted for 93.22%, leasing business for 6.3%, and other sources for 0.49% [2]

雷柏科技（002577）公告，截至2025年7月31日，公司通过股份回购专用证券账户以集中竞价方式回购 公司股份16.99万股，回购总金额为356.7万元，回购股份占公司A股总股本0.0603%。本次回购的最高成 交价为21.5元/股，最低成交价为19.56元/股。公司回购股份的实施符合相关法律法规要求以及既定的回 购方案。后续公司将根据市场情况在回购期限内实施本次回购计划，并计划在回购期间履行信息披露义 务。 ...

Core Insights - The company reported a revenue of 208 million yuan for the first half of 2025, representing a year-on-year decline of 5.13% [1] - Net profit attributable to shareholders was 15.3 million yuan, down 28.56% year-on-year [1] - The core business of computer peripherals generated revenue of 187 million yuan, a decrease of 5.56% year-on-year [1] Revenue Breakdown - Overseas sales revenue fell sharply to 65.87 million yuan, a decline of 20.25% year-on-year, attributed to unmet sales expectations in Europe [1] - Domestic sales revenue showed a slight increase of 3.98%, but this was insufficient to offset the decline in overseas sales [1] Profitability and Costs - The gross margin decreased by 3.68 percentage points, which was a significant factor in the overall performance decline [1] - Financial expenses increased by 65.24% due to exchange rate fluctuations leading to foreign exchange losses [1] Research and Development - R&D expenses decreased to 11.56 million yuan, down 4.84% year-on-year, contrasting with the company's strategic focus on wireless gaming technology [1] - The R&D expense ratio was only 5.55%, despite the launch of new products featuring self-developed V+Wireless2.0 technology [1]

Group 1 - The core viewpoint of the article is that 雷柏科技 (Rapoo Technology) reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year [2] Group 2 - The company's operating revenue for the first half of 2025 was approximately 208 million yuan, representing a year-on-year decrease of 5.13% [2] - The net profit attributable to shareholders of the listed company was around 15.3 million yuan, which is a year-on-year decrease of 28.56% [2] - The basic earnings per share were 0.0543 yuan, reflecting a year-on-year decrease of 28.27% [2]

Financial Performance - The company's total revenue for the first half of 2025 was 208 million yuan, a decrease of 5.13% year-on-year [1] - The net profit attributable to shareholders was 15.3 million yuan, down 28.56% year-on-year [1] - In Q2 2025, total revenue was 109 million yuan, a decline of 11.15% year-on-year, with net profit of 7.3 million yuan, down 50.59% [1] - The gross margin was 28.29%, a decrease of 9.89% year-on-year, while the net margin was 7.34%, down 24.7% [1] - Total expenses (selling, administrative, and financial) amounted to 32.5 million yuan, representing 15.61% of total revenue, an increase of 38.15% year-on-year [1] Key Financial Ratios - The return on invested capital (ROIC) for the previous year was 2.46%, indicating weak capital returns [3] - The historical median ROIC over the past decade was 0.7%, with the worst year being 2015, which recorded a ROIC of -20.14% [3] - The company's net profit margin last year was 8.4%, suggesting average added value for its products or services [3] Debt and Cash Flow - The company has a healthy cash position, with cash assets reported at 278 million yuan, a 39.71% increase year-on-year [1] - The accounts receivable stood at 139 million yuan, a decrease of 14.74% year-on-year [1] - The company’s interest-bearing debt increased significantly by 280.23% to 4.9 million yuan [1] Business Strategy - The company plans to focus on "e-sports" as a primary growth area, enhancing its existing product line and advancing the wireless e-sports product development [3] - The strategy includes optimizing the V+loT wireless e-sports venue solutions to address challenges in offline wireless peripheral management [3] - The long-term strategy is centered around positioning as a consumer electronics brand, with a focus on deepening its presence in the consumer electronics industry [3]

Core Viewpoint - Rapoo Technology reported a decline in revenue and net profit for the first half of 2025, primarily due to underperformance in the European market and increased costs associated with online channel development and marketing efforts [2][4]. Financial Performance - The operating revenue for the first half of 2025 was 208.34 million yuan, a decrease of 5.13% compared to the same period last year [3]. - The net profit attributable to shareholders was 15.30 million yuan, down 28.56% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 5.97 million yuan, reflecting a significant decrease of 58.92% [3]. - The net cash flow from operating activities was -4.96 million yuan, a decline of 116.14% compared to the previous year [3]. - Basic and diluted earnings per share were both 0.0543 yuan, down 28.27% from the previous year [3]. - The weighted average return on net assets was 1.30%, down from 1.83% [3]. - Total assets at the end of the reporting period were 1.34 billion yuan, a slight decrease of 0.07% from the end of the previous year [3]. - The net assets attributable to shareholders were 1.19 billion yuan, an increase of 1.04% year-on-year [3]. Market and Operational Challenges - The decline in revenue was attributed to disappointing sales in the European market, which is a significant overseas market for Rapoo Technology [4]. - Increased foreign exchange losses and higher sales expenses due to ongoing investments in online channel development contributed to the decline in net profit [4]. - The gross profit margin for the first half of 2025 was 28.29%, down 3.1 percentage points, indicating pressure on cost control and product pricing [4]. - Total operating expenses for the first half of 2025 were 44.09 million yuan, an increase of 712.05 thousand yuan from the previous year, with a rise in the expense ratio by 4.33 percentage points [4]. - The company faces intensified competition in the market, with a growing number of participants and industry scale, leading to slower performance growth and reduced profit margins [4]. Strategic Response - In response to the competitive market environment, Rapoo Technology plans to enhance its product design and research capabilities, improve channel development and sales capabilities, and closely monitor market trends to adjust business strategies accordingly [5]. - The company aims to innovate across technology, management, and marketing to strengthen its core competitiveness [5].