Jinggong Technology(SZ:002006) Sou Hu Cai Jing·2025-08-17 11:03Core Insights - Jinggong Technology reported a growth in operating performance for the first half of 2025, achieving operating revenue of 1.061 billion yuan, a year-on-year increase of 10.31%, and a net profit attributable to shareholders of 113 million yuan, up 15.55% year-on-year [1] Financial Performance - The net profit margin improved from 10.21% in the first half of 2024 to 10.69% in 2025, while the gross profit margin increased from 25.80% to 28.60%, indicating enhanced profitability [3] - The return on equity (ROE) decreased to 4.78%, down 2.13 percentage points year-on-year, reflecting a decline in profitability quality [3] Operational Stability - The inventory turnover days decreased to 92.25 days, down 24.82% from the first half of 2024, indicating improved inventory management efficiency [5] - The net cash flow from operating activities turned negative at -37 million yuan, compared to a positive 67 million yuan in the same period of 2024, showing a decline in cash recovery ability [5] - The debt-to-asset ratio for the first half of 2025 was 41.51%, down 8.67 percentage points year-on-year, suggesting a reduction in debt levels and a more stable financial structure [5] Institutional Holdings - As of the first half of 2025, the number of institutions holding Jinggong Technology's stock decreased to 4, down from 40 in the same period of 2024, indicating a significant decline in institutional investor participation [7] - The company's market capitalization peaked at 16.545 billion yuan on July 20, 2022, and currently stands at 9.117 billion yuan, requiring an 81.47% increase in stock price to reach its historical high [7]