*ST赛隆2025年中报简析：净利润同比下降940.5%，短期债务压力上升

Financial Performance - The company *ST Sailong (002898) reported a total revenue of 136 million yuan for the first half of 2025, a decrease of 13.04% year-on-year [1] - The net profit attributable to shareholders was -14.83 million yuan, representing a significant decline of 940.5% compared to the previous year [1] - The gross margin was 31.46%, down 32.74% year-on-year, while the net margin was -10.93%, a decrease of 1066.53% [1] Cash Flow and Debt Situation - The company's cash flow situation is concerning, with cash and cash equivalents amounting to 6.88 million yuan, a drop of 78.72% year-on-year [1] - The current ratio stands at 0.87, indicating rising short-term debt pressure [1] - The interest-bearing debt increased to 168 million yuan, an 11.43% rise compared to the previous year [1] Cost and Expense Analysis - Total selling, administrative, and financial expenses reached 38.82 million yuan, accounting for 28.6% of revenue, a decrease of 17.88% year-on-year [1] - The company has a historical median Return on Invested Capital (ROIC) of 6.51%, indicating average investment returns [3] - Financial expenses have reached 176.13% of the average operating cash flow over the past three years, raising concerns about financial sustainability [4]