电魂网络2025年中报简析：净利润同比下降115.75%，三费占比上升明显

Financial Performance - The company reported total revenue of 194 million yuan for the first half of 2025, a decrease of 28.69% year-on-year [1] - The net profit attributable to shareholders was -9.34 million yuan, representing a decline of 115.75% compared to the previous year [1] - The gross margin was 61.1%, down 13.43% year-on-year, while the net margin was -5.91%, a decrease of 126.74% [1] - The total of selling, administrative, and financial expenses reached 73.28 million yuan, accounting for 37.76% of total revenue, an increase of 43.63% year-on-year [1] Key Financial Ratios - The company’s return on invested capital (ROIC) has been historically strong, with a median of 16.73%, but the ROIC for 2024 was -0.99%, indicating poor investment returns [2] - The company’s cash assets are reported to be very healthy, suggesting good liquidity [2] Shareholder Information - The largest fund holding in the company is the "Fuguo Optimized Enhanced Bond A/B" fund, which has a scale of 1.999 billion yuan and a recent net value of 2.107, reflecting a 46.32% increase over the past year [3]