NETSUN(SZ:002095) Zheng Quan Zhi Xing·2025-08-29 22:41Financial Performance - The company reported a total revenue of 309 million yuan for the first half of 2025, representing a year-on-year increase of 25.12% [1] - The net profit attributable to shareholders was -7.043 million yuan, a decline of 130.3% compared to the previous year [1] - In Q2 2025, the total revenue was 146 million yuan, showing a year-on-year decrease of 10.75% [1] - The net profit for Q2 2025 was -8.6501 million yuan, down 58.37% year-on-year [1] Profitability Metrics - The gross margin was 9.78%, a decrease of 35.48% year-on-year [1] - The net margin was -3.11%, reflecting a decline of 77.23% compared to the previous year [1] - The total of selling, administrative, and financial expenses was 23.8324 million yuan, accounting for 7.7% of revenue, down 32.68% year-on-year [1] Cash Flow and Assets - The company reported cash and cash equivalents of 432 million yuan, a decrease of 18.98% year-on-year [1] - Accounts receivable decreased by 68.5% to 6.0247 million yuan [1] - The company had interest-bearing liabilities of 17.3795 million yuan, down 49% year-on-year [1] - Operating cash flow per share was 0.03 yuan, an increase of 111.91% year-on-year [1] Historical Performance and Investment Returns - The company's historical median Return on Invested Capital (ROIC) over the past 10 years is 0.89%, indicating weak investment returns [3] - The worst year for ROIC was 2024, with a value of -4.1% [3] - The company has reported a total of 18 annual reports since its listing, with one year showing a loss [3] Debt and Financial Health - The company's cash assets are considered healthy, with a cash to current liabilities ratio of 99.18% [3] - The average net cash flow from operating activities over the past three years has been negative, indicating potential concerns regarding financial stability [3]