*ST中装(002822.SZ)：2025年中报净利润为-3.96亿元

Core Viewpoint - *ST Zhongzhuang (002822.SZ) reported a significant decline in revenue and profitability for the first half of 2025, indicating financial distress and poor operational performance compared to peers. Financial Performance - As of June 30, 2025, *ST Zhongzhuang's total revenue was 409 million yuan, ranking 11th among disclosed peers, a decrease of 882 million yuan or 68.32% year-on-year [1] - The net profit attributable to shareholders was -396 million yuan, ranking 20th among peers [1] - The net cash flow from operating activities was -32.57 million yuan [1] Financial Ratios - The asset-liability ratio stood at 88.68%, ranking 14th among peers, an increase of 5.00 percentage points from the previous quarter and 21.46 percentage points year-on-year [3] - The gross profit margin was -3.12%, ranking 18th among peers, a decrease of 3.77 percentage points from the previous quarter and 1.21 percentage points year-on-year [3] - The return on equity (ROE) was -54.37%, ranking 16th among peers, a decline of 35.63 percentage points year-on-year [3] Earnings and Efficiency Metrics - The diluted earnings per share were -0.38 yuan, ranking 20th among peers [4] - The total asset turnover ratio was 0.07 times, ranking 17th among peers, a decrease of 0.10 times or 59.03% year-on-year [4] - The inventory turnover ratio was 0.73 times, ranking 19th among peers, a decrease of 1.63 times or 69.25% year-on-year [4]