Core Viewpoint - Hendy Pharmaceutical (301211) reported disappointing financial results for the first half of 2025, with significant declines in revenue and net profit compared to the previous year [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 235 million yuan, a decrease of 2.93% year-on-year [1]. - Net profit attributable to shareholders was 18.55 million yuan, down 72.92% year-on-year [1]. - Gross margin fell to 21.9%, a decline of 39.16% compared to the previous year [1]. - Net margin decreased to 7.9%, down 72.1% year-on-year [1]. - The total of selling, administrative, and financial expenses reached 26.98 million yuan, accounting for 11.49% of total revenue, an increase of 334.54% year-on-year [1]. Cash Flow and Expenses - Operating cash flow per share was 0.03 yuan, a decrease of 73.71% year-on-year [1]. - The company experienced a significant increase in financial expenses, which rose by 85.51% due to reduced interest income [3]. - The net cash flow from operating activities decreased by 73.71%, attributed to lower interest income [3]. Investment and Return Metrics - The company's return on invested capital (ROIC) was 1.92%, indicating weak capital returns [4]. - Historical data shows a median ROIC of 10.31% since the company went public, suggesting better investment returns in previous years [4]. Company Strategy and Future Plans - The company currently has no plans for share buybacks, but will disclose any future plans in accordance with regulations [5][6].
亨迪药业2025年中报简析：净利润减72.92%，三费占比上升明显