Clenergy(SH:603628) Zheng Quan Zhi Xing·2025-08-30 23:27Group 1 - The core viewpoint of the article highlights the strong financial performance of Qingyuan Co., Ltd. in the 2025 mid-year report, with significant increases in revenue and net profit compared to the previous year [1] - The total operating revenue for the first half of 2025 reached 1.205 billion yuan, representing a year-on-year increase of 37.98% [1] - The net profit attributable to shareholders was 86.78 million yuan, up 62.44% year-on-year [1] Group 2 - In Q2 2025, the operating revenue was 844 million yuan, showing a substantial year-on-year growth of 60.55% [1] - The net profit for Q2 2025 was 54.79 million yuan, reflecting a year-on-year increase of 29.03% [1] - The company's gross margin was 17.46%, which is a decrease of 20.77% compared to the previous year, while the net margin improved by 15.89% to 7.21% [1] Group 3 - The company's accounts receivable increased significantly, with a year-on-year growth of 41.15%, reaching 1.135 billion yuan [1] - The total expenses for sales, management, and finance amounted to 77.57 million yuan, which is 6.44% of revenue, down 45.78% year-on-year [1] - The company reported a negative operating cash flow per share of -0.58 yuan, a drastic decrease of 1189.95% year-on-year [1] Group 4 - The company's return on invested capital (ROIC) was 5.87%, indicating average capital returns, with a historical median ROIC of 8.07% since its listing [3] - The net profit margin for the previous year was 4.75%, suggesting low added value for products or services [3] - The company has a high accounts receivable to profit ratio of 1259.16%, indicating potential liquidity concerns [3]