友讯达2025年中报简析：净利润同比下降38.25%，公司应收账款体量较大

Group 1 - The company's total revenue for the first half of 2025 is 380 million yuan, a year-on-year decrease of 25.34% [1] - The net profit attributable to the parent company is 53.62 million yuan, down 38.25% year-on-year [1] - In Q2, the total revenue is 246 million yuan, a decline of 22.99% year-on-year, with a net profit of 44.82 million yuan, down 21.18% year-on-year [1] Group 2 - The company's accounts receivable is significant, with accounts receivable accounting for 125.56% of the latest annual net profit [1][2] - The gross profit margin is 40.85%, an increase of 2.92% year-on-year, while the net profit margin is 14.13%, a decrease of 17.29% year-on-year [1] - Total selling, administrative, and financial expenses amount to 63.12 million yuan, representing 16.63% of revenue, an increase of 26.97% year-on-year [1] Group 3 - The company's return on invested capital (ROIC) for the previous year was 19.57%, indicating strong capital returns [2] - The historical median ROIC since the company went public is 16.42%, reflecting good investment returns [2] - The company has a history of relatively good financial reports, with the worst ROIC recorded in 2020 at 4.1% [2]