Workflow
重庆钢铁2025年中报简析:亏损收窄,盈利能力上升
Zheng Quan Zhi Xing·2025-08-28 22:59

Financial Performance - Chongqing Steel reported total revenue of 13.085 billion yuan for the first half of 2025, a year-on-year decrease of 13.26% [1] - The net profit attributable to shareholders was -131 million yuan, an increase of 80.99% year-on-year [1] - In Q2, total revenue was 6.471 billion yuan, down 11.95% year-on-year, with a net profit of -13.6 million yuan, up 96.17% year-on-year [1] - The company's gross margin increased by 137.3% year-on-year, while the net margin saw an increase of 78.08% year-on-year [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 241 million yuan, accounting for 1.84% of revenue, which is a 3.9% increase year-on-year [1] - The earnings per share were -0.01 yuan, reflecting an increase of 87.5% year-on-year [1] Historical Performance - The company's historical financial performance has been generally poor, with a median ROIC of 0.37% over the past decade and a worst year ROIC of -17.14% in 2015 [2] - The company has reported losses in 7 out of 17 annual reports since its listing, indicating a weak investment profile [2] Cash Flow and Debt - The company's cash assets are considered healthy, but attention is needed on cash flow ratios, with cash and cash equivalents to current liabilities at 26.47% [3][4] - The average operating cash flow to current liabilities over the past three years is 10.18% [4] Future Expectations - Analysts expect the company's performance in 2025 to yield a net profit of 40.21 million yuan, with an average earnings per share forecast of 0.0 yuan [4]