LANCY(SZ:002612) Zheng Quan Zhi Xing·2025-08-29 22:59Financial Performance - The company reported a net profit of 274 million yuan for the first half of 2025, representing a year-on-year increase of 64.09% [1] - Total operating revenue for the same period was 2.788 billion yuan, a decrease of 4.3% compared to the previous year [1] - The gross profit margin was 59.67%, up by 0.54% year-on-year, while the net profit margin increased to 10.6%, a rise of 64.99% [1] Quarterly Analysis - In Q2 2025, the company achieved an operating revenue of 1.389 billion yuan, down 0.53% year-on-year, but the net profit surged by 134.03% to 179 million yuan [1] - The company's earnings per share for the first half of 2025 was 0.62 yuan, reflecting a 64.1% increase year-on-year [1] Cost and Expenses - Total expenses (selling, administrative, and financial) amounted to 1.388 billion yuan, accounting for 49.77% of revenue, which is an increase of 0.87% year-on-year [1] - The company’s cash flow per share was 0.66 yuan, down 13.05% compared to the previous year [1] Debt and Financial Ratios - The company’s interest-bearing debt increased by 20.41% to 1.808 billion yuan [1] - The return on invested capital (ROIC) for the previous year was 6.34%, indicating a generally weak capital return [3] Brand Performance - The Milan Baiyu brand reported a revenue of 302.62 million yuan in Q1 2025, a decrease of 8.74% year-on-year, with a net profit decline of 50.19% [4] - The Jingfu Medical brand saw a revenue increase of 1.13% to 125.20 million yuan, with a significant net profit growth of 633.07% [4] - Other brands like Hancheng and Wuhan Wuzhou experienced revenue declines, with net profits also decreasing significantly [5]