捷佳伟创2025年中报简析：营收净利润同比双双增长，公司应收账款体量较大

Core Viewpoint - The financial performance of Jiejia Weichuang (300724) shows significant growth in revenue and net profit for the first half of 2025, indicating strong operational efficiency and profitability [1][2]. Financial Performance - Total revenue for the first half of 2025 reached 8.372 billion, a year-on-year increase of 26.41% [1] - Net profit attributable to shareholders was 1.83 billion, reflecting a year-on-year growth of 49.26% [1] - In Q2 2025, total revenue was 4.273 billion, up 5.66% year-on-year, while net profit for the same period was 1.122 billion, showing a substantial increase of 73.22% [1] Profitability Metrics - Gross margin stood at 29.65%, a decrease of 2.64% year-on-year, while net margin improved to 21.87%, an increase of 18.06% [1] - Earnings per share (EPS) reached 5.26, up 49.43% year-on-year [1] Cost Management - Total selling, administrative, and financial expenses amounted to 90.65 million, representing only 1.08% of revenue, a decrease of 15.54% year-on-year [1] Asset Management - Accounts receivable were notably high, with accounts receivable to net profit ratio at 168.62% [1][2] - Cash flow per share was -2.23, a significant decrease of 497.3% year-on-year [1] Return on Investment - The company's Return on Invested Capital (ROIC) was 25.77%, indicating strong capital efficiency [2] - Historical median ROIC since listing is 14.51%, with the lowest recorded at 5.3% in 2013 [2] Market Position - The largest fund holding Jiejia Weichuang shares is the Changcheng China Intelligent Manufacturing Flexible Allocation Mixed A Fund, with a current scale of 0.85 billion [3] - The fund's net value increased by 1.73% on August 28, with a yearly growth of 34.31% [3]