雷科防务2025年中报简析：营收上升亏损收窄，盈利能力上升

Group 1 - The core viewpoint of the news is that 雷科防务 (Reko Defense) has shown improvement in its financial performance for the first half of 2025, with a notable increase in revenue and a significant reduction in net loss compared to previous periods [1] - The total operating revenue for the reporting period reached 542 million yuan, representing a year-on-year increase of 9.77% [1] - The net profit attributable to the parent company was -41.67 million yuan, which is a year-on-year improvement of 37.27% [1] Group 2 - In the second quarter, the operating revenue was 328 million yuan, reflecting a year-on-year increase of 28.54% [1] - The net profit attributable to the parent company for the second quarter was -4.86 million yuan, showing a year-on-year increase of 86.17% [1] - The gross profit margin improved by 8.91% year-on-year, reaching 36.43%, while the net profit margin increased by 47.39% to -6.75% [1] Group 3 - Total expenses for sales, management, and finance amounted to 123 million yuan, accounting for 22.72% of revenue, which is a year-on-year decrease of 11.8% [1] - The earnings per share were -0.03 yuan, representing a year-on-year increase of 40% [1] - The company has shown a weak historical performance with a median ROIC of 3.61% over the past decade, and a particularly poor ROIC of -18.09% in 2022 [2]