DSBJ(SZ:002384) Zheng Quan Zhi Xing·2025-08-27 23:31Financial Performance - Dongshan Precision reported a total revenue of 16.955 billion yuan for the first half of 2025, a year-on-year increase of 1.96% [1] - The net profit attributable to shareholders reached 758 million yuan, reflecting a significant year-on-year growth of 35.21% [1] - The gross profit margin improved to 13.59%, up by 4.02% year-on-year, while the net profit margin increased to 4.47%, a rise of 33.1% [1] - The company’s operating cash flow per share was 1.36 yuan, marking an 11.73% increase compared to the previous year [1] Key Financial Metrics - The company’s total liabilities decreased by 3.99% to 13.025 billion yuan, while cash and cash equivalents increased by 9.72% to 8.728 billion yuan [3] - Accounts receivable saw a decline of 9.53%, totaling 6.002 billion yuan [3] - The total expenses (selling, administrative, and financial) amounted to 735 million yuan, representing 4.34% of revenue, an increase of 5.26% year-on-year [1][3] Investment Insights - Analysts expect the company to achieve a net profit of 2.711 billion yuan for 2025, with an average earnings per share forecast of 1.57 yuan [4] - The company is held by several prominent fund managers, with notable increases in holdings from Morgan Emerging Power Mixed Fund and others [5][7] - The company’s return on invested capital (ROIC) was reported at 3.92%, indicating a relatively weak capital return compared to historical averages [3] Strategic Developments - Dongshan Precision is acquiring 100% of the shares of Sors Optical, a leading player in the optical communication module industry, to enhance its business layout and technological capabilities [8] - The acquisition aims to integrate core business segments such as consumer electronics, new energy vehicles, and optical communications, creating new growth opportunities [8]