中国国贸2025年中报简析：净利润同比下降8.02%

Financial Performance - The company reported a net profit of 632 million yuan for the first half of 2025, a decrease of 8.02% year-on-year [1] - Total operating revenue was 1.89 billion yuan, down 3.85% compared to the same period last year [1] - The gross profit margin was 59.63%, a decline of 2.05% year-on-year, while the net profit margin was 33.48%, down 4.35% [1] - In Q2 2025, operating revenue was 940 million yuan, a decrease of 4.41% year-on-year, and net profit was 321 million yuan, down 8.58% [1] Key Financial Ratios - The company's return on invested capital (ROIC) was 11.36% last year, indicating a generally average capital return [3] - The historical median ROIC over the past decade was 9.79%, with the lowest being 8.22% in 2015 [3] - The company maintained a healthy cash asset position, indicating good solvency [3] Shareholder Information - The largest fund holding shares in the company is Zhongyou Ruixin Enhanced Bond, which holds 800,000 shares and has increased its position [4] - The fund's current size is 3.966 billion yuan, with a recent net value of 1.357, reflecting a 23.14% increase over the past year [4] Future Expectations - Analysts expect the company's performance in 2025 to reach 1.286 billion yuan, with an average earnings per share of 1.27 yuan [3]