TVZone(SH:603721) Zheng Quan Zhi Xing·2025-08-28 22:59Core Insights - *ST Tianze (603721) reported a total revenue of 133 million yuan for the first half of 2025, a decrease of 5.14% year-on-year, while the net profit attributable to shareholders was -13.17 million yuan, an increase of 14.77% year-on-year [1] - The company experienced a significant increase in second-quarter revenue, reaching 103 million yuan, which is an 80.66% year-on-year increase, and a net profit of -6.07 million yuan, up 42.16% year-on-year [1] Financial Performance - The gross profit margin improved to 11.87%, a 77.18% increase year-on-year, while the net profit margin was -11.99%, a slight increase of 0.21% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 28.28 million yuan, accounting for 21.24% of revenue, which is a 26.62% increase year-on-year [1] - The company's earnings per share improved to -0.10 yuan, a 16.67% increase year-on-year, while the operating cash flow per share decreased to -0.07 yuan, a decline of 137.6% year-on-year [1] Balance Sheet and Debt - Accounts receivable increased significantly to 159 million yuan, representing 52.83% of the latest annual revenue [1] - The company’s interest-bearing liabilities rose to 201 million yuan, a 9.40% increase year-on-year [1] - The cash assets remain healthy, but the company has a debt ratio of 23.64% for interest-bearing liabilities, indicating a need for monitoring [3]