菲林格尔董事长就半年报投出弃权票 2025年上半年公司亏损进一步扩大

Core Viewpoint - The company reported a significant decline in net profit for the first half of 2025, with a loss of 26.93 million yuan, indicating an expanded loss compared to the previous year, despite a revenue increase of 13.83% to 136 million yuan [1][2]. Financial Performance - The company's operating income reached 136 million yuan, reflecting a year-on-year growth of 13.83% [1]. - The net profit loss of 26.93 million yuan represents a worsening compared to the previous year [1]. - Operating costs increased by 28.11%, outpacing revenue growth by 14.28 percentage points, leading to a contraction in gross profit margin [2]. Business Challenges - The flooring business faces intensified competition and reduced market demand, putting pressure on the main business operations [2]. - The company is transitioning from an agency sales model to a flatter distributor model, which has increased the complexity of sales channel management due to the presence of large remaining agents [2]. Cost Management - Management expenses increased by 5.33%, while sales expenses decreased by 9.72%, but these measures were insufficient to offset the impact of declining gross profit [2]. - Research and development expenses decreased by 22.62%, indicating a focus on cost reduction and efficiency improvement [2]. Inventory and Risk Management - Inventory decreased by 25.36% year-on-year, but the remaining balance is still 91.12 million yuan, posing a risk of price loss due to unsold stock if not managed properly [3]. - The company highlighted the fast-changing nature of consumer preferences in flooring products, which could lead to potential losses if inventory control is inadequate [3]. Business Development - The home furnishing segment is developing steadily, with the subsidiary Jiangsu Filinger completing factory setup and starting market operations, although it has not yet achieved profitability [3].