三孚新科亏出上市后新高

Core Viewpoint - Sanfu Xinke has reported a continued decline in net profit for the first half of 2025, marking the fourth consecutive year of losses, with a net profit of approximately -22.31 million yuan, a year-on-year increase in losses [1][2]. Financial Performance - In the first half of 2025, Sanfu Xinke achieved operating revenue of approximately 227 million yuan, a year-on-year decrease of 23.26% [1]. - The company's net profit attributable to shareholders was approximately -22.31 million yuan, reflecting an increase in losses compared to the previous year [1]. - The company's R&D expenses were approximately 32.90 million yuan, a year-on-year decrease of 12.71%, while sales expenses increased by 26.28% to approximately 30.75 million yuan [1]. - The net profit margin from core operations was approximately -24.40 million yuan, also showing an increase in losses year-on-year [1][2]. Industry Context - Sanfu Xinke operates in a challenging industry environment, which may be undergoing significant transformations, impacting the company's market positioning and product strategy [3]. - The company has a high market concentration, primarily serving leading enterprises in the PCB industry [1]. Stock Market Performance - On August 26, 2025, Sanfu Xinke's stock opened down 1.89% but later rose, reaching a peak of 75.5 yuan per share, marking a 14% increase and setting a new high for the year [3]. - The stock closed with a gain of 10.46%, at 73.2 yuan per share, with a total market capitalization of 7.156 billion yuan [3].