五矿资本（600390）2025年中报简析：净利润同比下降41.47%

Financial Performance - The company reported a net profit of 5.25 billion yuan for the first half of 2025, a decrease of 41.47% year-on-year [1] - Total operating revenue for the same period was 33.3 billion yuan, down 14.11% compared to the previous year [1] - The gross profit margin fell to 3.73%, a decline of 58.54% year-on-year [1] - The net profit margin decreased to 102.15%, down 77.63% from the previous year [1] - Earnings per share (EPS) dropped to 0.08 yuan, a decrease of 46.67% year-on-year [1] Cash Flow and Debt - The company reported a negative operating cash flow of -0.23 yuan per share, a significant decline of 132.49% year-on-year [1] - Cash assets are considered healthy, with a cash to current liabilities ratio of 71.41% [3] - The company has a debt ratio of 29.47% for interest-bearing liabilities [3] Historical Performance - The company's return on invested capital (ROIC) for the previous year was 0.76%, indicating weak capital returns [3] - Over the past decade, the median ROIC has been 3.82%, reflecting generally poor investment returns [3] - The company has reported losses in five out of its 24 annual reports since its listing [3]