ZJAMP.(SZ:002758) Zheng Quan Zhi Xing·2025-08-29 22:59Core Insights - Zhejiang Agricultural Co., Ltd. (浙农股份) reported a total revenue of 22.303 billion yuan for the first half of 2025, marking a year-on-year increase of 4.44% [1] - The net profit attributable to shareholders reached 130 million yuan, reflecting a year-on-year growth of 23.16% [1] - The company's gross margin improved by 11.12% to 5.12%, while the net margin surged by 60.91% to 1.33% [1] Financial Performance - Total revenue for Q2 2025 was 12.112 billion yuan, up 5.47% year-on-year [1] - Q2 net profit attributable to shareholders was 71.2067 million yuan, an increase of 47.76% year-on-year [1] - The company reported a significant increase in operating cash flow per share, which rose by 397.8% to 1.93 yuan [1] Cost and Efficiency Metrics - Total expenses (selling, administrative, and financial) amounted to 721 million yuan, accounting for 3.23% of revenue, a slight increase of 0.31% year-on-year [1] - The company's return on invested capital (ROIC) was 7.99% last year, indicating average capital returns [2] - The historical median ROIC since the company's listing is 10.1%, suggesting a generally favorable investment return [1] Debt and Cash Flow Analysis - The company has a healthy cash position, with cash assets being robust [2] - The ratio of cash assets to current liabilities is 51.34%, indicating a need for attention to cash flow management [3] - Accounts receivable have reached 307.43% of profit, highlighting potential concerns regarding receivables management [3]