Biwin Storage Technology (SH:688525) Ge Long Hui A P P·2025-08-10 08:15Core Viewpoint - The company reported a significant improvement in its financial performance for the first half of 2025, driven by a recovery in storage prices and increased project deliveries [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 3.912 billion yuan, representing a year-on-year growth of 13.70% [1] - In the second quarter, the revenue grew by 38.20% year-on-year and 53.50% quarter-on-quarter [1] - The gross profit margin in the second quarter increased by 11.7 percentage points, with June's gross profit margin reaching 18.61% [1] Profitability - The company incurred share-based payment expenses of 150.225 million yuan in the first half of 2025, resulting in a net loss attributable to shareholders of 75.5705 million yuan after excluding these expenses [1] - In the second quarter, share-based payment expenses were 69.5864 million yuan, leading to a net profit of 41.2884 million yuan after adjustments [1] Research and Development - To maintain competitiveness in the AI era, the company has increased its investment in research and development, focusing on storage solutions, chip design, advanced packaging, and testing equipment [1] - The R&D expenditure for the first half of 2025 was 272.9289 million yuan, reflecting a year-on-year increase of 29.77% [1]