Core Viewpoint - Laplace (688726) reported a strong performance in its 2025 mid-year financial results, with significant increases in revenue and net profit, although there was a decline in quarterly net profit [1] Financial Performance - Total revenue for the first half of 2025 reached 3.062 billion yuan, a year-on-year increase of 20.49% compared to 2.541 billion yuan in 2024 [1] - Net profit attributable to shareholders was 397 million yuan, up 12.94% from 352 million yuan in the previous year [1] - The gross profit margin was 29.66%, a slight increase of 0.07% year-on-year, while the net profit margin decreased by 6.67% to 13.03% [1] - Total expenses (selling, administrative, and financial) amounted to 163 million yuan, accounting for 5.31% of revenue, a decrease of 6.56% year-on-year [1] - Earnings per share rose to 0.98 yuan, a 2.08% increase from 0.96 yuan [1] Accounts Receivable and Liabilities - Accounts receivable increased significantly by 70.06% to 1.437 billion yuan, attributed to the rise in operating income [1][4] - Interest-bearing liabilities decreased by 17.33% to 241 million yuan [1] - The company reported a 41.52% increase in accounts receivable, driven by higher sales [4] Cash Flow and Investment - Operating cash flow per share was 0.18 yuan, down 14.6% from the previous year [1] - The net cash flow from investment activities increased by 42.13%, indicating reduced outflows from bank wealth management investments [11] Fund Holdings - The largest fund holding Laplace shares is Beixin Ruifeng Industrial Upgrade, with a scale of 58 million yuan and a recent net value of 1.2805 [14]
拉普拉斯2025年中报简析：营收净利润同比双双增长，应收账款上升