双一科技2025年中报简析：营收净利润同比双双增长，应收账款上升

Core Viewpoint - The recent financial report of Shuangyi Technology (300690) shows significant growth in revenue and net profit for the first half of 2025, indicating strong operational performance and improved profitability metrics [1]. Financial Performance - The total revenue for the first half of 2025 reached 525 million yuan, a year-on-year increase of 44.57% [1]. - The net profit attributable to shareholders was 99.87 million yuan, reflecting a substantial year-on-year growth of 324.5% [1]. - In Q2 2025, the revenue was 332 million yuan, up 42.75% year-on-year, while the net profit for the same quarter was 69.60 million yuan, an increase of 239.4% [1]. Profitability Metrics - The gross margin improved to 28.42%, a year-on-year increase of 20.92% [1]. - The net profit margin reached 19.0%, showing a significant year-on-year increase of 194.23% [1]. - The total of selling, administrative, and financial expenses was 30.47 million yuan, accounting for 5.81% of revenue, down 32.47% year-on-year [1]. Balance Sheet Highlights - Cash and cash equivalents increased to 346 million yuan, a 36.57% rise compared to the previous year [1]. - Accounts receivable rose to 480 million yuan, with a year-on-year growth of 32.89% [1]. - The company’s interest-bearing debt increased to 22.66 million yuan, reflecting a 77.24% year-on-year increase [1]. Shareholder Metrics - The net asset per share was 9.30 yuan, up 9.05% year-on-year [1]. - Earnings per share reached 0.60 yuan, a remarkable increase of 328.57% year-on-year [1]. - Operating cash flow per share was 0.52 yuan, reflecting a 3.56% increase year-on-year [1]. Investment Returns - The company's return on invested capital (ROIC) for the previous year was 5.12%, indicating average capital returns [3]. - The historical median ROIC since the company’s listing is 15.48%, suggesting good investment returns over time [3]. - The company’s net profit margin last year was 9.09%, indicating average added value from products or services [3]. Debt and Receivables Analysis - The company has a healthy cash asset position, but attention is needed on accounts receivable, which has reached 557.91% of profit [3].