捷捷微电2025年中报简析：营收净利润同比双双增长，应收账款上升

Financial Performance - The company reported a total revenue of 1.6 billion yuan for the first half of 2025, representing a year-on-year increase of 26.77% [1] - The net profit attributable to shareholders reached 247 million yuan, up 15.35% year-on-year [1] - In Q2 2025, the total revenue was 901 million yuan, with a year-on-year growth of 21.21%, and the net profit was 135 million yuan, increasing by 10.69% year-on-year [1] - The gross margin was 35.39%, down 4.56% year-on-year, while the net margin was 15.43%, a decrease of 14.41% year-on-year [1] Cash Flow and Receivables - The company's accounts receivable increased significantly, with a year-on-year growth of 40.46%, reaching 722 million yuan [1][3] - The net cash flow from operating activities saw a substantial increase of 55.03%, attributed to higher sales collections [3] - The cash and cash equivalents net increase was down by 526.20%, due to reduced cash inflow from maturing structured deposits [3] Cost and Expenses - Total sales, management, and financial expenses amounted to 151 million yuan, accounting for 9.46% of revenue, a decrease of 7.93% year-on-year [1] - The operating cost increased by 30.17%, in line with the growth in sales [3] Investment and Financing - The company’s interest-bearing debt decreased by 43.75% to 1.148 billion yuan [1] - The net cash flow from financing activities increased by 196.52%, primarily due to an increase in short-term borrowings [3] Shareholder Metrics - The earnings per share (EPS) was 0.30 yuan, reflecting a year-on-year increase of 3.45% [1] - The net asset value per share rose to 6.97 yuan, up 41.31% year-on-year [1] - The company’s return on invested capital (ROIC) was 7.35%, indicating average capital returns [4] Fund Holdings - The largest fund holding in the company is the Zhongjia Kofeng Value Selection Mixed Fund, which holds 0.05 million shares and has recently entered the top ten holdings [5]