广聚能源2025年中报简析：净利润同比下降58.35%

Financial Performance - Guangju Energy reported a significant decline in net profit, down 58.35% year-on-year, with a total revenue of 691 million yuan, a decrease of 33.99% [1] - The second quarter showed a total revenue of 364 million yuan, down 30.07%, and a net profit of -5.17 million yuan, reflecting a decline of 133.32% [1] - The gross margin improved to 10.75%, an increase of 35.89%, while the net margin decreased to 1.5%, down 33.96% [1] Key Financial Metrics - The company’s operating expenses, including sales, management, and financial costs, totaled 37.65 million yuan, representing 5.45% of revenue, an increase of 51.97% [1] - Earnings per share fell to 0.02 yuan, a decrease of 58.25%, and operating cash flow per share was -0.15 yuan, down 280.54% [1] - The company’s cash assets were reported at 676 million yuan, a decrease of 12.87% from the previous year [1] Return on Investment - The company's return on invested capital (ROIC) was 2.54%, indicating weak capital returns, with a historical median ROIC of 3.61% over the past decade [3] - The net profit margin for the previous year was 5.03%, suggesting that the added value of the company's products or services is average [3] Business Model and Debt Capacity - The company relies heavily on marketing-driven performance, necessitating a thorough examination of the underlying drivers [4] - The company's debt repayment capacity appears healthy, supported by its cash assets [4]