Hongda New Material(SZ:002211) Zheng Quan Zhi Xing·2025-08-30 23:28Group 1 - The core viewpoint of the article highlights that ST Hongda (002211) has shown an increase in revenue and a reduction in losses in its 2025 interim report [1] - The total operating revenue for the company reached 211 million yuan, representing a year-on-year increase of 87.39% [1] - The net profit attributable to the parent company was -9.2972 million yuan, which is a 37.1% improvement compared to the previous year [1] Group 2 - In the second quarter, the operating revenue was 113 million yuan, reflecting a year-on-year growth of 70.79% [1] - The net profit for the second quarter was -6.0179 million yuan, showing a year-on-year increase of 53.97% [1] - The gross profit margin was 6.95%, a decrease of 10.15% year-on-year, while the net profit margin was -4.41%, an increase of 66.43% year-on-year [1] Group 3 - Total selling, administrative, and financial expenses amounted to 15.8696 million yuan, accounting for 7.52% of revenue, which is a 24.72% decrease year-on-year [1] - The net asset per share was 0.03 yuan, down 69.22% year-on-year, while the operating cash flow per share was 0.04 yuan, an increase of 486.5% year-on-year [1] - The earnings per share were -0.02 yuan, reflecting a year-on-year increase of 37.13% [1] Group 4 - The company's historical financial performance has been generally poor, with a median ROIC of -2.35% over the past decade and a worst year ROIC of -73.91% in 2021 [2] - The company has reported losses in 7 out of 16 annual reports since its listing, indicating a lack of attractiveness for value investors [2] - The company's cash assets are reported to be healthy, but attention is advised on cash flow and accounts receivable due to negative net profit [2]