中威电子上半年营收3775.88万元，同比下降44.13%

Core Viewpoint - Zhongwei Electronics reported a significant decline in revenue and an increase in net losses for the first half of 2025, indicating ongoing financial challenges and a need for new development opportunities [2][3]. Financial Performance - Revenue for the first half of 2025 was 37,758,826.46 yuan, a decrease of 44.13% compared to the same period last year [3]. - The net loss attributable to shareholders was 39,082,761.85 yuan, a slight decrease of 1.23% year-on-year [3]. - The net loss after deducting non-recurring gains and losses was 40,194,490.76 yuan, an increase of 1.54% compared to the previous year [3]. - The net cash flow from operating activities was -38,318,460.78 yuan, a significant decline from a positive cash flow of 1,052,133.40 yuan in the same period last year [3]. - Basic and diluted earnings per share remained at -0.13 yuan, unchanged from the previous year [3]. - The weighted average return on equity was -6.65%, down from -5.98% year-on-year [3]. Asset and Equity Position - As of the end of the first half, total assets amounted to 786,923,319.18 yuan, a decrease of 10.74% from the end of the previous year [3]. - The net assets attributable to shareholders were 567,879,529.52 yuan, down 6.43% year-on-year [3]. Operational Challenges - The company cited insufficient product price advantages and significantly compressed project profit margins as key challenges affecting performance [2]. - Zhongwei Electronics has faced losses for several years, with the exception of a small profit in 2022, and continues to seek new development opportunities while facing the risk of ongoing losses [2]. Accounts Receivable Risk - As of June 30, the company had accounts receivable totaling 363,769,100 yuan, accounting for 46.23% of total assets [4]. - Slow turnover of accounts receivable has led to potential bad debt losses, impacting net profit and increasing financial pressure and financing costs [4]. - The need to invest more resources in collecting receivables has raised management expenses, further affecting long-term development [4].