吉大通信2025年中报简析：净利润同比下降316.25%，三费占比上升明显

Financial Performance - The company's total revenue for the first half of 2025 was 219 million yuan, a decrease of 7.11% year-on-year [1] - The net profit attributable to shareholders was -15.68 million yuan, a decline of 316.25% compared to the previous year [1] - The gross profit margin was 17.52%, down 16.77% year-on-year, while the net profit margin was -7.19%, a decrease of 336.31% [1] - The total of selling, administrative, and financial expenses reached 43.61 million yuan, accounting for 19.94% of total revenue, an increase of 46.09% year-on-year [1] Cash Flow and Debt - The company reported cash and cash equivalents of 336 million yuan, an increase of 6.67% year-on-year [1] - The company’s interest-bearing liabilities rose to 328 million yuan, a significant increase of 69.41% [1] - The cash flow situation is concerning, with the cash assets to current liabilities ratio at 68.08% and the average operating cash flow over the past three years being -12.98% [3] Return on Investment - The company's return on invested capital (ROIC) for the previous year was 0.46%, indicating weak capital returns [3] - The historical median ROIC since the company went public is 6.44%, suggesting average investment returns [3] - The net profit margin for the previous year was 0.96%, indicating low added value for products or services [3] Accounts Receivable - The accounts receivable to profit ratio has reached 8255.06%, highlighting potential issues in collections [3]