Core Viewpoint - The recent financial report of Jian Gong Repair (300958) indicates a significant decline in revenue and net profit, raising concerns about the company's financial health and operational efficiency [1] Financial Performance Summary - Total revenue for the first half of 2025 was 325 million yuan, a decrease of 35.77% year-on-year [1] - The net profit attributable to shareholders was -34.96 million yuan, a decline of 1002.52% compared to the previous year [1] - In Q2 2025, total revenue was 97.98 million yuan, down 65.49% year-on-year, with a net profit of -27.40 million yuan, a decrease of 475.57% [1] - The gross profit margin improved to 20.93%, an increase of 12.6% year-on-year, while the net profit margin fell to -10.85%, a decrease of 3786.24% [1] - Total expenses (selling, administrative, and financial) reached 51.55 million yuan, accounting for 15.84% of total revenue, an increase of 51.1% year-on-year [1] Key Financial Ratios - The company's return on invested capital (ROIC) has been historically low, with a median of 9.32% since its listing, and a particularly poor ROIC of -3.11% in 2024 [2] - Cash assets are reported to be healthy, but the cash flow situation is concerning, with a cash flow to current liabilities ratio of only 84.52% [2] - The average operating cash flow over the past three years has been negative, indicating potential liquidity issues [2] Legal Matters - The company has reported progress in its ongoing litigation, with two cases resulting in a favorable first-instance judgment and five cases settled through mediation [3]
建工修复2025年中报简析：净利润同比下降1002.52%，三费占比上升明显