Shijihengtong(SZ:301428) Zheng Quan Zhi Xing·2025-08-28 22:59Financial Performance - The company reported total revenue of 540 million yuan for the first half of 2025, a decrease of 11.67% year-on-year [1] - The net profit attributable to shareholders was 36.97 million yuan, down 11.90% compared to the previous year [1] - In Q2 2025, total revenue was 269 million yuan, reflecting a year-on-year decline of 16.17% [1] - The net profit for Q2 2025 was 21.55 million yuan, a slight decrease of 0.72% year-on-year [1] Key Financial Ratios - The gross margin improved to 25.82%, an increase of 14.3% year-on-year [1] - The net profit margin decreased to 6.47%, down 3.74% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 82.57 million yuan, representing 15.28% of revenue, an increase of 19.65% year-on-year [1] Balance Sheet Highlights - Accounts receivable increased to 423 million yuan, a rise of 25.65% year-on-year, with accounts receivable to net profit ratio at 683.69% [1][2] - Interest-bearing liabilities surged to 629 million yuan, an increase of 86.22% year-on-year [1] - Cash and cash equivalents decreased to 279 million yuan, down 8.89% year-on-year [1] Earnings Per Share - Earnings per share (EPS) fell to 0.38 yuan, a decrease of 11.87% year-on-year [1] - The operating cash flow per share was -1.97 yuan, a significant decline of 225.93% year-on-year [1] Return on Investment - The company's return on invested capital (ROIC) was 4.72%, indicating weak capital returns [1] - Historical median ROIC since listing is 11.76%, suggesting that the current performance is below historical averages [1]