国泰集团(603977.SH)：上半年净利润1.2亿元，同比下降11.14%

Core Viewpoint - Cathay Group (603977.SH) reported a decline in revenue and net profit for the first half of 2025, indicating challenges in its operational performance [1] Financial Performance - The company achieved operating revenue of 1.059 billion yuan, a year-on-year decrease of 6.03% [1] - Net profit attributable to shareholders was 120 million yuan, down 11.14% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 113 million yuan, a decrease of 3.69% year-on-year [1] - Basic earnings per share were 0.20 yuan [1] Reasons for Profit Decline - Increased depreciation and financial expenses after project acceptance by the subsidiary Jiangxi Hongtai Logistics Co., Ltd. led to a decline in performance compared to the same period last year [1] - The subsidiary Jiangxi Yongning Technology Co., Ltd. faced intensified competition in the high perchlorate production industry, resulting in a year-on-year performance decline [1] - The company received 10 million yuan in government subsidies from the provincial industrial development special plan in the previous year, which was not matched in the current period, contributing to the decrease in current profits [1]