升达林业2025年中报简析：营收净利润同比双双增长

Group 1 - The core viewpoint of the article highlights that Shengda Forestry (002259) has reported significant growth in both revenue and net profit for the first half of 2025, with total revenue reaching 467 million yuan, a year-on-year increase of 78.26%, and a net profit of 14.07 million yuan, up 132.41% [1] - In the second quarter of 2025, the company achieved a total revenue of 238 million yuan, reflecting a year-on-year increase of 113.61%, and a net profit of 2.70 million yuan, which is a 105.68% increase compared to the same period last year [1] - The financial metrics indicate a gross margin of 12.14%, a decrease of 38.04% year-on-year, while the net margin improved to 2.77%, an increase of 116.5% [1] Group 2 - The company reported a significant reduction in total expenses, with selling, administrative, and financial expenses totaling 22.57 million yuan, which is 4.83% of revenue, down 56.54% year-on-year [1] - The company's cash flow indicators are positive, with operating cash flow per share at 0.05 yuan, a 50.01% increase year-on-year, and net assets per share at 0.36 yuan, up 32.83% [1] - Historical performance shows that the company's return on invested capital (ROIC) was 6.05% last year, with a median ROIC of 4.14% over the past decade, indicating generally weak capital returns [3]