恒生电子业绩沟通：上半年对人员做了一定的瘦身

Core Viewpoint - Hengsheng Electronics reported a decline in revenue but a significant increase in net profit, indicating a shift in focus towards profitability despite challenging market conditions [1][2]. Financial Performance - In the first half of 2025, Hengsheng Electronics achieved operating revenue of 2.426 billion yuan, a year-on-year decrease of 14.44% [1]. - The net profit attributable to shareholders was 261 million yuan, showing a remarkable year-on-year increase of 771.57% [1]. - The non-recurring net profit was 192 million yuan, reflecting a year-on-year growth of 41.89% [1]. - Operating costs, sales expenses, management expenses, and R&D expenses were 739 million yuan, 288 million yuan, 306 million yuan, and 1.036 billion yuan respectively, with year-on-year reductions of 9.16%, 26.03%, 20.71%, and 10.77% [1]. Business Strategy - The company attributed the revenue decline to tightened IT budgets from financial institutions and increased market competition, leading to reduced customer demand and longer procurement cycles [1]. - Hengsheng Electronics is strategically optimizing its business structure by reducing non-core operations [1]. - The company emphasized the importance of maintaining a competitive salary structure to attract and retain high-end talent, which is crucial for its technological competitiveness [2]. Future Outlook - Hengsheng Electronics aims to deepen its operations in various segments of the financial industry and enhance its solution delivery capabilities [2]. - The company plans to explore global business opportunities and aims to become a leading supplier in more niche markets by 2030 [2].