LONTRUE(SZ:300175) Zheng Quan Zhi Xing·2025-08-29 22:42Core Viewpoint - ST Langyuan (300175) reported a narrowing loss in its 2025 interim financial results, with total operating revenue declining and net profit improving compared to the previous year [1] Financial Performance Summary - Total operating revenue for 2025 was 103 million yuan, a decrease of 4.72% year-on-year [1] - The net profit attributable to shareholders was -5.23 million yuan, an improvement of 75.99% year-on-year [1] - In Q2 2025, total operating revenue was 49.32 million yuan, an increase of 29.38% year-on-year [1] - Q2 2025 net profit attributable to shareholders was -1.35 million yuan, an increase of 95.32% year-on-year [1] Key Financial Ratios - Gross margin was 11.7%, down 23.82% year-on-year [1] - Net margin was -5.08%, an improvement of 76.16% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 19.09 million yuan, accounting for 18.52% of revenue, an increase of 10.78% year-on-year [1] - Earnings per share were -0.01 yuan, an increase of 75.97% year-on-year [1] Cash Flow and Debt Analysis - Cash and cash equivalents decreased by 25.89% year-on-year to 103 million yuan [1] - Accounts receivable decreased by 80.94% year-on-year to 18.44 million yuan [1] - Interest-bearing debt increased by 32.94% year-on-year to 19.95 million yuan [1] - Operating cash flow per share was 0.03 yuan, a decrease of 68.67% year-on-year [1] Historical Performance Insights - The company's historical financial performance has been generally poor, with a median ROIC of -1.18% over the past decade [1] - The worst year for ROIC was 2020, at -24.33% [1] - The company has reported losses in five out of its thirteen annual reports since going public [1]