120亿理财+炒股计划，江苏国泰吸睛效应爆了

Core Viewpoint - Jiangsu Guotai has become a focal point of public discussion due to its recent financial decisions, including plans for significant investments in financial products and the termination of a major project, raising concerns about its financial management and strategic focus [2][3]. Financial Decisions - Jiangsu Guotai announced plans to use up to 12 billion yuan of idle funds for entrusted wealth management and up to 1.831 billion yuan for securities investment [2]. - The company decided to terminate a lithium-ion battery electrolyte project initially projected to require an investment of 1.5 billion yuan, citing changes in the industry environment and land delivery issues [2]. - The total amount allocated for wealth management and stock trading is approximately 13.83 billion yuan, which exceeds the company's market value of 12.4 billion yuan [2]. Financial Performance - The company reported total revenue of 186.25 billion yuan for the first half of 2025, a year-on-year increase of 5.46%, with a net profit of 5.45 billion yuan, up 10.85% [3][4]. - For 2023 and 2024, the company experienced revenue declines of 13.18% and a slight increase of 4.76%, respectively, with net profits decreasing by 6.95% and 31.06% [4]. - The company's cash flow from operating activities showed a significant growth rate of 80.56%, but the cash balance has been declining, from 20.89 billion yuan at the end of 2023 to 12.57 billion yuan by mid-2025 [3][4]. Strategic Focus - In response to market concerns, Jiangsu Guotai announced a commitment to focus on its core business and increase shareholder returns through a dividend policy that guarantees cash dividends of no less than 40% of distributable profits annually [5]. - The company has been criticized for its reliance on financial investments rather than innovation in its core business, which may pose long-term sustainability risks, especially given its high debt levels [5].