NGL(SZ:002836) Zheng Quan Zhi Xing·2025-08-27 23:30Core Insights - New Hongze (002836) reported a significant increase in both revenue and net profit for the first half of 2025, with total revenue reaching 200 million yuan, a year-on-year increase of 30.9%, and net profit attributable to shareholders at 31.46 million yuan, up 11.41% year-on-year [1] Financial Performance - Total revenue for Q2 2025 was 99.20 million yuan, reflecting a 16.3% year-on-year growth, while net profit for the same quarter was 15.46 million yuan, showing a decline of 12.44% year-on-year [1] - Gross margin decreased to 29.78%, down 9.47% year-on-year, and net margin fell to 15.7%, down 14.89% year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 14.20 million yuan, accounting for 7.08% of revenue, a decrease of 9.9% year-on-year [1] Key Financial Metrics - Earnings per share (EPS) increased to 0.14 yuan, a rise of 12.27% year-on-year, while operating cash flow per share dropped to 0.17 yuan, down 51.32% year-on-year [1] - The company’s return on invested capital (ROIC) was reported at 16.61% for the previous year, indicating strong capital returns [11] - The company’s historical financial performance shows a median ROIC of 14.53%, with a notable low of 2.8% in 2021 [12] Cash Flow and Capital Management - Cash and cash equivalents decreased by 37.25% due to increased cash outflows for dividends and equipment purchases [3] - Net cash flow from operating activities fell by 51.32%, attributed to higher payments for goods and wages [8] - Investment activities saw a drastic decline in net cash flow, down 836.08%, due to increased spending on fixed assets and financial products [9] Fund Holdings - The largest fund holding New Hongze is the Shenwan Lingxin Dividend Quantitative Stock A, which holds 42,300 shares and has recently entered the top ten holdings [13]