MeiG(SZ:002881) Zheng Quan Zhi Xing·2025-08-28 22:59Financial Performance - The company reported a total revenue of 1.886 billion yuan for the first half of 2025, representing a year-on-year increase of 44.5% [1] - The net profit attributable to shareholders reached 84.17 million yuan, up 151.38% year-on-year [1] - In Q2 2025, total revenue was 889 million yuan, showing a year-on-year growth of 21.65%, while net profit for the quarter was 37.86 million yuan, an increase of 40.15% year-on-year [1] - The gross margin was 13.36%, down 19.44% year-on-year, while the net margin improved to 4.46%, up 77.46% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 52.67 million yuan, accounting for 2.79% of revenue, a decrease of 49.53% year-on-year [1] Balance Sheet and Cash Flow - Accounts receivable increased significantly, with a year-on-year growth of 55.59%, reaching 981 million yuan [1] - The company’s interest-bearing debt rose by 106.44% to 509 million yuan [1] - Cash flow from operations per share was -0.32 yuan, a decrease of 66.83% year-on-year [1] Investment Insights - The company's return on invested capital (ROIC) was 8.03% last year, indicating average capital returns [3] - The historical median ROIC since the company went public is 12.76%, with the lowest recorded ROIC at 3.33% in 2020 [3] - Analysts expect the company's performance in 2025 to reach 206 million yuan, with an average earnings per share of 0.79 yuan [3] Fund Holdings - The largest fund holding the company’s shares is the Xin Yuan CSI 1000 Index Enhanced Fund, with 10,700 shares newly added to its top holdings [4] - Other funds that have recently increased their holdings include Minsheng Jia Yin and CITIC Jiantou [4]