游族网络2025年中报简析：净利润同比增长989.31%

Core Viewpoint - Youzu Interactive (游族网络) reported a significant increase in net profit for the first half of 2025, with a year-on-year growth of 989.31%, despite a slight decline in total revenue [1] Financial Performance Summary - Total revenue for the first half of 2025 was 688 million yuan, a decrease of 1.93% compared to 702 million yuan in the same period of 2024 [1] - Net profit attributable to shareholders reached 50.16 million yuan, up from 4.60 million yuan in the previous year, marking a growth of 989.31% [1] - Gross margin stood at 39.69%, down 4.94% year-on-year, while net margin increased to 7.29%, a rise of 1007.44% [1] - Total expenses (selling, administrative, and financial) amounted to 160 million yuan, accounting for 23.32% of revenue, a decrease of 13.61% [1] - Earnings per share (EPS) increased to 0.06 yuan, up 1053.85% from 0.01 yuan [1] Cash Flow and Asset Changes - Operating cash flow per share was -0.1 yuan, a decrease of 161.9% year-on-year [1] - Cash and cash equivalents decreased significantly, with a net increase of -111.91% in cash and cash equivalents due to reduced cash flow from operating, investing, and financing activities [4] - The company saw a 20.46% decrease in cash funds, dropping from 1.939 billion yuan to 1.542 billion yuan [1] Liabilities and Investments - Interest-bearing liabilities decreased by 21.83%, from 1.238 billion yuan to 968 million yuan [1] - The company reported a 45.01% increase in right-of-use assets due to an increase in leased properties [2] - The fair value of trading financial assets rose by 53.28%, indicating a positive market adjustment [2] Fund Holdings - The largest fund holding Youzu Interactive is the Huaxia CSI Animation Game ETF, with a scale of 7.073 billion yuan and a recent net value increase of 2.33% [6]