HUALAN BIOLOGICAL(SZ:002007) Zheng Quan Zhi Xing·2025-08-28 22:59Core Viewpoint - Hualan Biological's 2025 mid-year report shows positive growth in revenue and net profit, indicating improved profitability and operational efficiency [1][3]. Financial Performance - Total revenue for the first half of 2025 reached 1.798 billion yuan, an increase of 8.8% year-on-year - Net profit attributable to shareholders was 516 million yuan, up 17.19% year-on-year - In Q2 2025, total revenue was 931 million yuan, a year-on-year increase of 7.53%, with net profit of 203 million yuan, up 13.62% year-on-year [1]. Profitability Metrics - Gross margin improved to 52.58%, an increase of 3.73% year-on-year - Net margin rose to 29.07%, up 7.05% year-on-year - Total selling, administrative, and financial expenses amounted to 278 million yuan, accounting for 15.44% of revenue, a decrease of 8.64% year-on-year [1]. Key Financial Ratios - Earnings per share (EPS) increased to 0.28 yuan, a rise of 17.37% year-on-year - Net asset value per share reached 6.57 yuan, up 6.86% year-on-year - Operating cash flow per share was 0.13 yuan, down 28.21% year-on-year [1]. Business Operations - The company reported a 5.23% increase in plasma collection volume, totaling 803.66 tons in the first half of 2025 - New plasma collection stations were established, contributing to the growth in collection volume [5]. Market Position and Investment Sentiment - The company has a Return on Invested Capital (ROIC) of 7.87%, indicating average capital returns - Analysts expect 2025 performance to reach 1.247 billion yuan, with an average EPS forecast of 0.68 yuan [3]. Fund Holdings - The largest fund holding Hualan Biological is the Harvest CSI Vaccine and Biotechnology ETF, which has reduced its holdings - Other funds have shown varied changes in their positions, with some increasing their stakes [4].