中远海科上半年净利润下滑超90% 传统业务收缩拖累业绩

Core Viewpoint - 中远海科's performance in the first half of 2025 showed significant declines in revenue and net profit, primarily due to a drop in demand and increased competition in its main business segments [1][2]. Financial Performance - The company reported a revenue of 789 million yuan, a year-on-year decrease of 9.97% [1]. - The net profit attributable to shareholders was 9.83 million yuan, down 91.21% year-on-year [1]. - The gross margin for the digital city and transportation business fell to 5.33%, a decrease of 15.30 percentage points year-on-year [2]. Business Segment Analysis - The digital city and transportation segment experienced a revenue decline of 23.62% to 368 million yuan, significantly impacting overall performance [1]. - The traditional highway system integration business is shrinking, with lower gross margins due to budget management and project delivery issues from government and enterprise clients [2]. - The digital shipping and supply chain business showed resilience, with a revenue increase of 8.81% to 414 million yuan [4]. Industry Trends - The pace of investment in traditional infrastructure, such as highways, has slowed, while user demand is becoming more diversified [3]. - Increased competition from leading equipment manufacturers and large internet platforms is creating uncertainty for 中远海科's growth [3]. Strategic Adjustments - The company is focusing on enhancing its core businesses by increasing investment in foundational technologies like digital twins and video platforms [3]. - 中远海科 has divested its 50% stake in a subsidiary to concentrate on its two main business areas [4]. - The company plans to accelerate the market promotion of its product matrix and develop the smart shipping industry [5]. Future Outlook - 中远海科 aims to maintain stable overall revenue while optimizing the structure of its digital city and transportation business [5]. - The company will continue to invest in research and development, with a focus on core products and innovative business models [5].