聚焦2025半年报| 达仁堂营收下滑却利润暴涨 扣非仅贡献三成利润

Core Viewpoint - The company reported a significant decline in revenue but a substantial increase in net profit, primarily due to the sale of equity in a subsidiary [1][2]. Financial Performance - The company achieved operating revenue of 2.65 billion yuan, a decrease of 33.15% year-on-year [2]. - The net profit attributable to shareholders was 1.93 billion yuan, an increase of 193.08% compared to the previous year [1][2]. - The net profit excluding non-recurring items was 596 million yuan, down 5.93% year-on-year [2]. - The net cash flow from operating activities was 487 million yuan, a decrease of 12.15% [2]. Asset and Liability Management - The company's net assets attributable to shareholders increased by 12% to 8.78 billion yuan [2]. - Total assets rose by 19.36% to 12.85 billion yuan [2]. - Accounts receivable reached 1.23 billion yuan, reflecting a year-on-year increase of 62.07% [4][5].