JIT(SZ:003029) Zheng Quan Zhi Xing·2025-08-28 22:59Financial Performance - The company reported total revenue of 177 million, a year-on-year decrease of 18.27% [1] - The net profit attributable to the parent company was -43.13 million, down 38.3% year-on-year [1] - In Q2, total revenue was 116 million, showing a year-on-year increase of 28.7% [1] - The net profit attributable to the parent company in Q2 was -12.39 million, an increase of 16.68% year-on-year [1] - The gross margin was 55.48%, a decrease of 2.51% year-on-year [1] - The net margin was -20.84%, down 75.73% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 99.23 million, accounting for 55.98% of revenue, an increase of 11.41% year-on-year [1] - Earnings per share were -0.22, a decrease of 37.5% year-on-year [1] Cash Flow and Financial Health - The company's accounts receivable accounted for 63.68% of total revenue [1] - The cash flow per share was -0.3, an increase of 44.35% year-on-year [1] - The company's cash flow situation is concerning, with cash and cash equivalents to current liabilities at only 88.63% [2] - The average operating cash flow over the past three years has been negative, indicating financial strain [2] Investment Returns - The company's historical median ROIC since listing is 10.47%, but the ROIC for the worst year, 2023, was -11.48% [2] - The company has reported losses in three out of four years since its IPO, indicating a fragile business model [2]