Core Viewpoint - Huicheng Vacuum (301392) reported a decline in both revenue and net profit for the first half of 2025, despite a strong performance in the secondary market following its listing [1][3]. Financial Performance - For the first half of 2025, Huicheng Vacuum achieved a net profit of approximately 42.64 million yuan, a year-on-year decrease of 27.82% [3][4]. - The company's revenue for the same period was about 263 million yuan, down 9.71% year-on-year [3][4]. - The net profit after deducting non-recurring items was approximately 42.52 million yuan, reflecting a decline of 23.58% year-on-year [3][4]. Business Segments - In the industrial vacuum coating equipment segment, revenue reached approximately 130 million yuan, showing a significant year-on-year increase of 382.28%, with a gross margin of 28.58% [4]. - The research vacuum coating equipment segment generated revenue of about 27.99 million yuan, up 8.57% year-on-year, with a gross margin of 38.69% [4]. - Other consumer products in the vacuum coating equipment category saw revenue of approximately 50.68 million yuan, a decline of 15.19% year-on-year, with a gross margin of 23.47% [4]. Market Performance - Following its listing on June 5, 2024, Huicheng Vacuum's stock price has shown a continuous upward trend, reaching a historical high of 185.56 yuan per share on August 21, 2025 [1][3]. - On August 21, the stock opened up 0.08%, peaked at nearly 4% increase during the day, but closed down 2.84% at 173.35 yuan per share, with a total market capitalization of 17.34 billion yuan [1][3]. Dividend Distribution - The board of Huicheng Vacuum approved a profit distribution plan, proposing a cash dividend of 1 yuan per 10 shares (including tax), with no bonus shares issued [3].
股价大涨不具业绩支撑，汇成真空上市后净利连降