Core Insights - The company Gongda Keya (301197) reported a significant decline in financial performance for the first half of 2025, with total revenue of 87.81 million yuan, down 8.52% year-on-year, and a net profit attributable to shareholders of -15.40 million yuan, a decrease of 244.37% [1] Financial Performance Summary - Total revenue for the second quarter was 39.03 million yuan, reflecting an 18.06% year-on-year decline [1] - The gross profit margin decreased to 40.22%, down 2.19% year-on-year, while the net profit margin plummeted to -18.25%, a drop of 281.19% [1] - The total of financial, sales, and administrative expenses reached 35.68 million yuan, accounting for 40.63% of total revenue, an increase of 45.66% year-on-year [1] - Earnings per share were reported at -0.13 yuan, a decrease of 225.00% compared to the previous year [1] Cash Flow and Debt Analysis - The net cash flow from operating activities decreased by 42.95%, attributed to increased tax payments [3] - The company’s financial expenses surged by 480.66%, primarily due to increased interest expenses [2] - The company’s cash assets are considered healthy, but the average operating cash flow over the past three years has been negative [8] Investment and Return Metrics - The company's return on invested capital (ROIC) for the previous year was 3.64%, indicating weak capital returns, while the historical median ROIC since listing is 13.33% [6] - The company’s net profit margin was reported at 14.17%, suggesting high added value in its products or services despite recent performance issues [6] Accounts Receivable and Taxation - Accounts receivable have reached 803.38% of profits, indicating potential liquidity issues [8] - Tax expenses increased by 36.19%, contributing to the overall financial strain [5]
工大科雅2025年中报简析：净利润同比下降244.37%，三费占比上升明显