WINNER TECH.(SZ:300609) Zheng Quan Zhi Xing·2025-08-29 22:41Group 1 - The core viewpoint of the article highlights the financial performance of Huina Technology (300609) for the first half of 2025, showing a slight increase in revenue and a significant reduction in net loss compared to the previous year [1] - The total operating revenue for the first half of 2025 reached 126 million yuan, a year-on-year increase of 2.24%, while the net profit attributable to shareholders was -17.47 million yuan, improving by 46.58% year-on-year [1] - In Q2 2025, the operating revenue was 74.03 million yuan, up 0.9% year-on-year, but the net profit attributable to shareholders decreased by 26.12% to -14.83 million yuan [1] Group 2 - The gross profit margin increased by 4.54% to 53.43%, and the net profit margin improved by 44.34% to -19.39% [1] - Total expenses (selling, administrative, and financial) amounted to 67.79 million yuan, accounting for 53.64% of revenue, a decrease of 19.87% year-on-year [1] - The company reported a significant improvement in operating cash flow per share, which was -0.22 yuan, an increase of 54.18% year-on-year [1] Group 3 - Historical data indicates that the company's median ROIC since its listing is 12.77%, with a poor performance in 2022 showing a ROIC of -2.96% [3] - The company has reported negative net profits in four out of seven annual reports since its listing, indicating a generally poor financial history [3] - Analysts expect the company's performance in 2025 to yield a net profit of 9 million yuan, with an average earnings per share of 0.08 yuan [3]