RHI(SZ:002483) Zheng Quan Zhi Xing·2025-08-27 05:25Financial Performance - The company's total revenue for the first half of 2025 was 3.136 billion yuan, a decrease of 0.42% year-on-year [1] - The net profit attributable to shareholders was 163 million yuan, down 6.11% year-on-year [1] - In Q2 2025, total revenue was 1.769 billion yuan, an increase of 1.79% year-on-year, while net profit was 92.8458 million yuan, a decrease of 16.45% year-on-year [1] - The gross margin was 19.76%, a decrease of 0.52% year-on-year, and the net margin was 6.73%, down 9.12% year-on-year [1] - The company's accounts receivable accounted for 210.27% of the latest annual net profit [1][4] Cash Flow and Expenses - The net increase in cash and cash equivalents was 1301.88%, attributed to increases in cash flow from operating and investing activities [3] - Sales expenses increased by 46.3% due to heightened sales efforts [3] - Financial expenses decreased by 2009.98% due to lower interest expenses and changes in exchange gains and losses [3] - Operating cash flow increased by 208.89% due to higher prepayments received compared to the previous year [3] Investment and Market Position - The company has a strong historical return on invested capital (ROIC) of 12.15% last year, although the median ROIC over the past decade is only 4.38% [3] - The company is actively expanding its business in the shipbuilding and offshore engineering sectors, which are experiencing a new cycle of high demand [5] - The company aims to become a globally influential provider of offshore and special transport vessels [5]