Addsino (SZ:000547) Sou Hu Cai Jing·2025-08-23 22:23Financial Performance - The company reported total revenue of 689 million yuan for the first half of 2025, a decrease of 20.25% year-on-year [1] - The net profit attributable to shareholders was -378 million yuan, down 4.05% year-on-year [1] - The gross margin was 4.54%, a significant decline of 65.64% compared to the previous year [1] - The net margin was -61.8%, which represents a decrease of 34.18% year-on-year [1] - The company’s receivables accounted for 101.64% of total revenue, indicating a large volume of accounts receivable [1] Cash Flow and Financial Ratios - The company experienced a 33.04% decrease in cash and cash equivalents, attributed to negative net cash increases and a decline in restricted cash [4] - The return on invested capital (ROIC) was reported at -22.93%, indicating poor investment returns [5] - The average cash flow from operating activities over the past three years has been negative [7] Cost Management - Total selling, administrative, and financial expenses amounted to 204 million yuan, accounting for 29.66% of revenue, a decrease of 7.44% year-on-year [1] - Sales expenses decreased by 39.18% due to cost-cutting measures and reduced personnel-related costs [4] Investment and Debt - The company’s interest-bearing debt decreased by 29.66% to 872 million yuan [1] - The net cash flow from investment activities saw a drastic decline of 99.88%, primarily due to the expiration of large time deposits in the previous year [4] Shareholder Information - The largest fund holding the company’s shares is the Chuangjin Hexin Advanced Equipment Stock A, which holds 518,900 shares [6]