CJJG(SH:600496) Xin Lang Cai Jing·2025-08-27 11:14Core Insights - The company reported a revenue of 9.911 billion yuan for the first half of 2025, representing a year-on-year increase of 29.48% [1] - The net profit attributable to shareholders was 350 million yuan, up 28.06% year-on-year, while the net profit excluding non-recurring items was 302 million yuan, reflecting a 22.75% increase [1] - The basic earnings per share stood at 0.18 yuan, with a weighted average return on equity of 3.87% [1] Financial Performance - The gross margin for the first half of 2025 was 10.59%, a decrease of 2.25 percentage points year-on-year, while the net margin was 3.57%, down 0.05 percentage points compared to the same period last year [1] - In Q2 2025, the gross margin was 11.95%, showing a year-on-year decline of 2.09 percentage points but a quarter-on-quarter increase of 2.79 percentage points; the net margin was 4.53%, up 0.31 percentage points year-on-year and 1.98 percentage points quarter-on-quarter [1] Expense Analysis - The company's period expenses amounted to 737 million yuan, an increase of 20.7031 million yuan compared to the previous year, with a period expense ratio of 7.43%, down 1.92 percentage points year-on-year [2] - Sales expenses decreased by 7.53% year-on-year, while management expenses increased by 4.23%, R&D expenses rose by 7.75%, and financial expenses decreased by 25.38% [2] Business Overview - The company, founded on June 28, 1999, and listed on June 5, 2002, is located in Shanghai and specializes in the design, manufacturing, installation, and engineering services of steel structure buildings [2] - The revenue composition includes industrial buildings (60.92%), public buildings (27.29%), EPC (9.99%), and other segments [2] - The company is categorized under the construction decoration industry, specifically in the professional engineering and steel structure sector, and is associated with concepts such as undervalued stocks and new urbanization [2]