Wujin Stainless(SH:603878) Zheng Quan Zhi Xing·2025-08-28 14:34Financial Performance - The company reported a total revenue of 1.121 billion yuan for the first half of 2025, a decrease of 26.82% year-on-year [1] - The net profit attributable to shareholders was 75.4975 million yuan, down 46.05% compared to the previous year [1] - In Q2 2025, the revenue was 638 million yuan, reflecting a year-on-year decline of 20.38%, while the net profit for the same period was 45.1746 million yuan, down 37.17% [1] Key Financial Ratios - The gross margin was 14.41%, a decrease of 13.16% year-on-year, and the net margin was 6.74%, down 26.27% [1] - The total of selling, administrative, and financial expenses was 51.198 million yuan, accounting for 4.57% of revenue, a slight decrease of 0.62% [1] - Earnings per share (EPS) dropped to 0.13 yuan, a decline of 48.00% year-on-year [1] Cash Flow and Receivables - The operating cash flow per share was 0.19 yuan, down 63.63% year-on-year, indicating a significant reduction in cash generated from operations [1] - Accounts receivable amounted to 489 million yuan, representing a decrease of 36.02% year-on-year, but the accounts receivable to net profit ratio reached 389.29% [1][2] Investment and Debt - The company’s cash and cash equivalents decreased by 43.89% to 421 million yuan, attributed to increased long-term deposits [1] - Interest-bearing liabilities were reported at 380 million yuan, a decrease of 5.86% [1] - The company’s return on invested capital (ROIC) was 4.11%, indicating weak capital returns compared to the historical median of 9.31% [2]