JULI INC.(SZ:002342) Zhong Guo Jing Ying Bao·2025-08-20 13:15Core Viewpoint - The company, Jili Rigging (002342.SZ), reported significant growth in revenue and net profit for the first half of 2025, alongside a plan to establish a wholly-owned subsidiary focused on marine technology to enhance its capabilities in deep-sea technology [1][4]. Financial Performance - In the first half of 2025, Jili Rigging achieved revenue of 1.14 billion yuan, a year-on-year increase of 17.45% [2]. - The company reported a net profit of 9 million yuan, up 137.21% year-on-year, and a non-recurring net profit of 6 million yuan, reflecting a substantial increase of 450.30% [2]. - In contrast, the first half of 2024 saw a decline in both revenue and net profit, with the company experiencing losses in 2023 and 2024 [2]. Profitability and Cost Management - Despite the increase in net profit, the sales gross margin fell below 20%, recorded at 18.00% compared to 21.16% in the same period last year [3]. - The company managed to reduce selling and administrative expenses by 23.49% and 7.60% respectively, while R&D investment decreased by 16.99% [3]. - Operating costs increased by 22.15%, attributed to a financial software upgrade that refined the accounting of transportation costs [3]. Cash Flow and Operational Efficiency - The net cash flow from operating activities improved by 56.98% year-on-year, although it remained negative at approximately -43 million yuan [3]. - The company attributed the profit growth to the implementation of lean production measures, which enhanced operational efficiency [2]. Strategic Initiatives - Jili Rigging announced plans to invest 100 million yuan to establish Jili Rigging Marine Technology (Tianjin) Co., Ltd., aimed at enhancing its industrialization and scalability in the deep-sea technology sector [4][5]. - The company has developed key technologies for long-term mooring systems and plans to promote three product lines in the marine engineering sector [4][5]. - The establishment of the new subsidiary is expected to strengthen the company's competitive edge in the marine engineering market, which is experiencing growth due to increased global marine resource development [5].