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海达股份2025年中报简析:营收净利润同比双双增长,盈利能力上升

Financial Performance - Company reported total revenue of 1.765 billion yuan for the first half of 2025, a year-on-year increase of 20.66% [1] - Net profit attributable to shareholders reached 108 million yuan, up 40.16% year-on-year [1] - In Q2 2025, total revenue was 923 million yuan, reflecting a 15.25% increase compared to the same quarter last year [1] - Q2 net profit attributable to shareholders was 55.704 million yuan, a 50.95% increase year-on-year [1] - Gross margin improved to 18.8%, up 0.51% year-on-year, while net margin increased to 6.27%, up 12.71% year-on-year [1] Cost Management - Total selling, administrative, and financial expenses amounted to 109 million yuan, accounting for 6.16% of revenue, a decrease of 3.68% year-on-year [1] - Cash flow per share increased significantly by 229.35% to 0.37 yuan [1] Business Outlook - Company plans to focus on mid-to-high-end positioning in rubber products, particularly in sealing and vibration reduction [5] - The company aims to leverage its strengths in multiple fields to solidify its business base in automotive, rail transit, construction, and shipping sectors [5] - The container sealing business is expected to remain at historically high levels despite fluctuations in demand due to geopolitical factors [5] Contractual Developments - Company’s subsidiary, Haida New Energy, signed a procurement framework contract with Anhui Sailaf Energy, expected to supply 3.7 GW of products by June 30, 2026 [6] - The new product, a comprehensive screen frame, is designed to enhance safety and reliability, gaining customer recognition [6] Industry Position - Company’s return on invested capital (ROIC) was 6.73% last year, indicating average capital returns [3] - The company’s historical financial performance has been relatively average, with a median ROIC of 9.18% over the past decade [3]