中邮科技2025年中报简析：营收净利润同比双双增长

Financial Performance - Company reported a total revenue of 434 million yuan for the first half of 2025, representing a year-on-year increase of 12.07% [1] - Net profit attributable to shareholders reached 695 million yuan, showing a significant year-on-year increase of 2187.41% [1] - In Q2 2025, total revenue was 205 million yuan, up 14.92% year-on-year, while net profit for the quarter was 717 million yuan, reflecting a staggering increase of 5426.22% [1] Profitability Metrics - Gross margin decreased to 5.45%, down 58.3% year-on-year, while net margin improved to 160.23%, an increase of 1962.65% [1] - Total selling, administrative, and financial expenses amounted to 62.064 million yuan, accounting for 14.31% of revenue, which is a 16.4% increase year-on-year [1] - Earnings per share (EPS) rose to 5.11 yuan, marking a year-on-year increase of 2229.17% [1] Financial Health - Cash and cash equivalents increased to 1.177 billion yuan, a rise of 77.27% compared to the previous year [1] - The company’s debt levels remained low, with interest-bearing liabilities at 5.8017 million yuan, up 7.66% year-on-year [1] - The average operating cash flow over the past three years is only 3.7% of current liabilities, indicating a need for careful monitoring of cash flow [3] Historical Context - The company has shown a median Return on Invested Capital (ROIC) of 5.94% since its listing, with a notably poor ROIC of -9.48% in 2024 [3] - The historical financial performance has been generally average, with one year of losses since its IPO [3]