Core Insights - *ST Weihai reported a total revenue of 830 million yuan for the first half of 2025, a decrease of 4.1% year-on-year, while the net profit attributable to shareholders increased by 116.29% to 8.33 million yuan [1] - The company's gross margin improved significantly, with a year-on-year increase of 63.32%, and the net margin also saw a substantial rise of 111.14% [1] Financial Performance - Total revenue for 2025 was 830 million yuan, down from 865 million yuan in 2024, reflecting a decline of 4.1% [1] - The net profit attributable to shareholders rose to 8.33 million yuan from a loss of 51.11 million yuan in 2024, marking a 116.29% increase [1] - The gross margin for 2025 was 11.29%, up 63.32% year-on-year, while the net margin improved to 0.76% from -6.83% in the previous year [1] - Total expenses (selling, administrative, and financial) amounted to 73.88 million yuan, accounting for 8.9% of revenue, a decrease of 30.67% compared to the previous year [1] Cash Flow and Debt Management - The net cash flow from operating activities decreased by 50.25%, attributed to increased payments for project costs [2] - The net cash flow from investing activities increased by 143.28%, due to reduced project investments and increased recoveries from BT and PPP projects [2] - The net cash flow from financing activities saw a drastic decline of 1109.85%, primarily due to a significant increase in bank loan repayments [3] Historical Performance and Investment Return - The company has a poor historical return on invested capital (ROIC), with a median of -0.65% over the past decade, and a worst year in 2019 with a ROIC of -20.13% [5] - The company has reported losses in six out of its thirteen annual reports since going public, indicating a generally weak financial performance [5] Liquidity and Financial Health - The company's cash assets are considered healthy, with a cash and cash equivalents to current liabilities ratio of 73.61% [6] - The average net cash flow from operating activities over the past three years has been negative, raising concerns about financial sustainability [6]

Core Viewpoint - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which has led to administrative penalties and ongoing legal issues [5][6][40]. Group 1: Company Overview - The company is identified as Zhejiang Province Weihai Construction Group Co., Ltd., with stock code 002586 and is currently under special risk warning due to past violations [36][40]. - The company has not changed its controlling shareholder or actual controller during the reporting period [5][6]. Group 2: Financial Data and Performance - The company reported a total of 2,469,999,995.81 RMB raised from a non-public stock issuance in 2017, with a net amount of 2,447,726,145.75 RMB after deducting fees [8][9]. - As of June 30, 2025, the company has used a total of 200,235.63 million RMB of the raised funds, with a remaining balance of 59,917.51 million RMB [10][11]. Group 3: Fund Management and Usage - The company has established a management system for the raised funds, ensuring they are stored in dedicated bank accounts and managed according to regulatory requirements [12]. - The company temporarily used 240 million RMB of idle raised funds to supplement working capital, which was fully returned within the stipulated time frame [14]. Group 4: Legal and Regulatory Issues - The company is facing multiple lawsuits and arbitration cases that have resulted in the freezing of its bank accounts, impacting its financial operations [20][22][24]. - The company has been penalized for providing illegal guarantees and misusing funds, with significant amounts involved in these violations [43]. Group 5: Recent Developments - The company has recently won a bid for a project worth 155,930,014 RMB, which is expected to positively impact its future revenue and net profit [33][34]. - The company’s stock has been under special risk warning since 2019 due to various financial irregularities, including fund misappropriation and guarantees [36][40].

Group 1 - The core issue involves a lawsuit against *ST Weihai by six investors seeking compensation for investment losses amounting to 602,541.67 yuan due to alleged information disclosure violations [1] - The lawsuit stems from a 2023 announcement where *ST Weihai disclosed that its 2022 financial report received a disclaimer of opinion from its auditor, and there were inconsistencies in the financial data [1] - The company is under investigation by the China Securities Regulatory Commission (CSRC) for violations related to financial disclosures, including false records of goodwill impairment and inflated profits in previous years [1] Group 2 - The Ningbo Intermediate People's Court ruled against the investors, dismissing their claims and ordering them to bear the litigation costs of 10,811 yuan [2] - As of the announcement date, *ST Weihai has no other significant undisclosed litigation or arbitration matters, and the lawsuit's outcome does not impact the company's financial results [2] - The company emphasizes its commitment to uphold the legal rights of itself and its shareholders while ensuring compliance with information disclosure obligations [2]

Group 1 - The core point of the article is that *ST Weihai reported a decrease in revenue and a return to profitability in the first half of 2025 compared to the same period in 2024 [1] - In the first half of 2025, the company achieved an operating income of approximately 830 million yuan, a year-on-year decrease of 4.1% [1] - The net profit attributable to shareholders was approximately 8.33 million yuan, with a basic earnings per share of 0.0073 yuan [1] Group 2 - In the same period in 2024, the company reported an operating income of approximately 865 million yuan and a net loss of about 51.11 million yuan [1] - The basic earnings per share for the first half of 2024 was a loss of 0.0447 yuan [1] - As of the report date, the market capitalization of *ST Weihai was 3.9 billion yuan [1]

Core Viewpoint - *ST Weihai (002586.SZ) reported a decline in revenue but achieved profitability in the first half of 2025 [1] Financial Performance - The company achieved operating revenue of 829.7 million yuan, a year-on-year decrease of 4.10% [1] - The net profit attributable to shareholders of the listed company was 8.3278 million yuan, marking a turnaround from loss to profit [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 4.4970 million yuan [1] - Basic earnings per share were 0.0073 yuan [1]

Core Viewpoint - *ST Weihai (002586.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first half of 2025 was 830 million yuan, representing a year-on-year decrease of 4.10% [1] - The net profit attributable to shareholders of the listed company was 8.3278 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 4.497 million yuan [1] - The basic earnings per share were 0.0073 yuan [1]

证券代码：002586 证券简称：*ST 围海 公告编号：2025-077 浙江省围海建设集团股份有限公司 关于公司股票被实行其他风险警示相关事项的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，无虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、2019 年 5 月 29 日，因浙江省围海建设集团股份有限公司(以下简称"公 司")违规担保、资金占用等事项，公司股票被实行"其他风险警示"；2019 年 8 月 29 日，因公司主要银行账号被冻结，公司股票被叠加实施"其他风险警示"； 2021 年 3 月 24 日，因重要子公司失控的重大缺陷，公司被审计机构出具了否定 意见的《内部控制鉴证报告》，公司股票被叠加实施"其他风险警示"（详见公 司分别于 2019 年 5 月 28 日、8 月 29 日、2021 年 3 月 24 日在巨潮资讯网上发布 的《关于公司股票被实行其他风险警示的公告》、《关于公司部分银行账户被冻 结事项触发了其他风险警示相应情形的公告》、《关于公司股票被叠加实施其他 风险警示的公告》）。 公司已于 2022 年 4 月 22 日收到重整投资人向公司支付的违规资金收益权收 购 ...

浙江省围海建设集团股份有限公司 舆情管理制度 第一章 总则 第一条 为进一步提高浙江省围海建设集团股份有限公司（以下简称"公司"） 应对各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情 对公司股价、公司商业信誉及正常生产经营活动造成的影响，切实维护投资者和 公司的合法权益，根据《中华人民共和国公司法》《深圳证券交易所股票上市规 则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 等法律、法规和规范性文件以及《公司章程》的规定，结合公司实际情况，制定 本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面或不实报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成公司股票及其衍生 品交易价格异常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第三条 本制度所称舆情的分类： （一）重大舆情：指传播范围较广，严重影响公司公众形象或正常经营活动， 使公司已经或可能遭受损失，已经或可能造成公司股票及其衍生品种交易价格异 常变动的负 ...

浙江省围海建设集团股份有限公司2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 | 其他关联方及其 附属企业 | 无 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 小计 | 无 | | | | | | | | | | | 总计 | —— | —— | —— | 85,098.31 | 22,401.86 | —— | 18,505.65 | 88,994.51 | —— | —— | | 单位：万元 | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占 | 资金占用方名称 | 占用方与上市公司的 | 上市公司核算的 | 2025 年期初占用 | 2025 | 半年度占用累计发生 | 2025 | ...

浙江省围海建设集团股份有限公司 2025 年半年度财务报告 浙江省围海建设集团股份有限公司 2025 年半年度财务报告 （未经审计） 2025 年 8 月 1 浙江省围海建设集团股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：浙江省围海建设集团股份有限公司 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 | 1,332,218,787.35 | 1,300,738,153.18 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 1,016,513.25 | 1,213,029.87 | | 衍生金融资产 | | | | 应收票据 | 1,221,009.19 | 3,000,000.00 | | 应收账款 | 1,673,481,252.50 | 1,813,811,336.88 | | 应收款项融资 | | | | ...