CRT(SH:600125) Zheng Quan Zhi Xing·2025-08-30 23:27Financial Performance - The company reported total revenue of 5.513 billion yuan for the first half of 2025, a decrease of 22.14% year-on-year [1] - The net profit attributable to shareholders was 379 million yuan, an increase of 33.34% year-on-year [1] - In Q2 2025, total revenue was 2.84 billion yuan, down 21.47% year-on-year, while net profit attributable to shareholders reached 176 million yuan, up 172.5% year-on-year [1] Key Financial Metrics - Gross margin improved to 11.39%, up 36.36% year-on-year, while net margin increased to 6.83%, a rise of 70.48% year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 95.8936 million yuan, accounting for 1.74% of revenue, an increase of 39.42% year-on-year [1] - Earnings per share (EPS) rose to 0.29 yuan, reflecting a year-on-year increase of 33.64% [1] Receivables and Cash Flow - Accounts receivable increased significantly, with a year-on-year growth of 70.27%, reaching 595 million yuan [1] - The company reported operating cash flow per share of 0.36 yuan, up 67.91% year-on-year [1] Historical Performance and Ratios - The company's return on invested capital (ROIC) was 4.8% last year, indicating weak capital returns [3] - The historical median ROIC over the past decade was 5.21%, with the lowest recorded ROIC at 4.18% in 2016 [3] - The company's net profit margin was 2.94%, suggesting low added value in its products or services [3] Future Expectations - Analysts expect the company's performance in 2025 to reach 558 million yuan, with an average EPS forecast of 0.43 yuan [4]