ComNav Technology (SH:688592) Zheng Quan Zhi Xing·2025-08-29 22:41Financial Performance - Company reported total revenue of 171 million yuan for the first half of 2025, a year-on-year increase of 41.82% compared to 120 million yuan in 2024 [1] - Net profit attributable to shareholders was -2.72 million yuan, a significant decline of 218.32% from a profit of 2.30 million yuan in the previous year [1] - Gross margin decreased to 50.91%, down 9.49% year-on-year, while net margin turned negative at -1.61%, a drop of 190.11% [1] - Total operating expenses (sales, management, and financial expenses) amounted to 65.12 million yuan, accounting for 38.19% of revenue, a decrease of 9.35% year-on-year [1] Accounts Receivable and Cash Flow - Accounts receivable reached 289 million yuan, representing 70.11% of the latest annual revenue, indicating a large volume of receivables [1] - Operating cash flow per share was -0.98 yuan, an increase of 18.8% year-on-year, reflecting a negative cash flow situation [1] Investment Returns and Debt - Historical median Return on Invested Capital (ROIC) since listing is 9.06%, with the worst year being 2024 at -3.57% [2] - Company has a healthy cash asset position, but the average operating cash flow over the past three years is only 2.83% of current liabilities [2] Fund Holdings - The largest fund holding shares in the company is CITIC Jiantou Smart Life Mixed A, with a current scale of 36 million yuan and a recent net value increase of 0.56% [3]