Financial Performance - The company's total revenue for the first half of 2025 was 167 million yuan, a year-on-year decrease of 15.97% [1] - The net profit attributable to the parent company was -26.98 million yuan, a decline of 2.45% year-on-year [1] - In Q2 2025, total revenue was 72.83 million yuan, down 40.64% year-on-year, with a net profit of -18.89 million yuan, a decrease of 87.31% [1] Key Financial Ratios - Gross margin was 19.48%, a decrease of 31.91% compared to the previous year [1] - Net margin was -16.01%, down 26.71% year-on-year [1] - The ratio of selling, administrative, and financial expenses to revenue was 28.08%, an increase of 14.4% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents decreased by 34.72% to 224 million yuan [1] - Accounts receivable stood at 383 million yuan, a slight decrease of 0.84% [1] - Interest-bearing liabilities increased by 5.24% to 69.08 million yuan [1] Earnings Per Share - Earnings per share remained at -0.23 yuan, a decrease of 0.31% year-on-year [1] - Operating cash flow per share was -0.12 yuan, down 45.65% compared to the previous year [1] Historical Performance Insights - The company's historical median ROIC since listing is 11.56%, with the worst year being 2023 at -8.78% [3] - The company has reported losses in three out of its years since listing, indicating a fragile business model [3] - The average operating cash flow over the past three years is only 3.22% of current liabilities, suggesting potential liquidity concerns [3]
实朴检测2025年中报简析：净利润同比下降2.45%，公司应收账款体量较大