Exciton(SZ:300566) Zheng Quan Zhi Xing·2025-08-27 22:56Financial Performance - The company's total revenue for the first half of 2025 was 1.074 billion yuan, a decrease of 4.02% year-on-year [1] - The net profit attributable to the parent company was 117 million yuan, down 6.46% year-on-year [1] - In Q2 2025, total revenue was 595 million yuan, an increase of 2.39% year-on-year, while net profit for the same period was 57.686 million yuan, a decrease of 23.49% year-on-year [1] Key Financial Metrics - Gross margin was 24.35%, a slight decrease of 0.07% year-on-year, and net margin was 10.77%, down 2.98% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 71.3594 million yuan, accounting for 6.65% of revenue, an increase of 7.27% year-on-year [1] - Earnings per share (EPS) was 0.44 yuan, a decrease of 6.38% year-on-year, while operating cash flow per share was 0.23 yuan, down 50.75% year-on-year [1] Balance Sheet Insights - Accounts receivable increased significantly, with a year-on-year growth of 38.96%, reaching 978 million yuan [1] - Cash and cash equivalents decreased by 28.10% year-on-year to 423 million yuan [1] - The company’s net asset value per share was 7.81 yuan, an increase of 8.35% year-on-year [1] Return on Investment - The company's return on invested capital (ROIC) for the previous year was 7.46%, indicating average capital returns [3] - Historical data shows a median ROIC of 8.16% since the company went public, with the lowest ROIC recorded in 2022 at 3.21% [3] - Analysts expect the company's performance in 2025 to reach 246 million yuan, with an average EPS forecast of 0.93 yuan [3]