Hitevision (SZ:002955) Xin Lang Cai Jing·2025-08-26 11:48Core Viewpoint - Honghe Technology reported a significant decline in revenue and net profit for the first half of 2025, indicating potential challenges in its business performance [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 1.4 billion yuan, a year-on-year decrease of 10.99% [1]. - The net profit attributable to shareholders was 44.69 million yuan, down 70.09% year-on-year [1]. - The non-recurring net profit was 32.18 million yuan, reflecting a 75.72% decline compared to the previous year [1]. - Basic earnings per share were reported at 0.19 yuan [1]. - The gross margin for the first half of 2025 was 28.17%, a decrease of 6.23 percentage points year-on-year [2]. - The net profit margin was 2.93%, down 6.34 percentage points from the same period last year [2]. Cost Management - Total operating expenses for the first half of 2025 were 309 million yuan, a reduction of 66.06 million yuan compared to the previous year [2]. - The expense ratio was 22.07%, down 1.77 percentage points year-on-year [2]. - Sales expenses decreased by 13.97%, management expenses fell by 14.93%, R&D expenses decreased by 2.07%, and financial expenses saw a significant drop of 93.41% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 20,400, a decrease of 1,026 from the previous quarter, representing a decline of 4.79% [2]. - The average market value per shareholder increased from 267,700 yuan at the end of the first quarter to 284,900 yuan, an increase of 6.41% [2]. Company Overview - Honghe Technology, established on May 28, 2010, and listed on May 23, 2019, is based in Beijing and specializes in the design, research and development, production, and sales of smart interactive display products and smart audio-visual solutions [3]. - The main business revenue composition includes IWB products at 72.38%, other smart interactive products at 20.49%, and smart audio-visual solutions at 7.12% [3]. - The company belongs to the electronic-optical optoelectronics-panel industry and is associated with concepts such as IoT, Huawei, gesture recognition, sports industry, and small-cap stocks [3].