每周股票复盘：山煤国际（600546）中报净利降49.25%

Core Points - The stock price of Shanmei International (600546) closed at 9.87 yuan, down 3.52% from last week, with a market capitalization of 19.567 billion yuan [1] - As of June 30, 2025, the number of shareholders increased by 14.65% to 82,637, while the average shareholding decreased to 24,000 shares [2] - The company's mid-year report for 2025 shows a revenue of 9.66 billion yuan, a year-on-year decline of 31.28%, and a net profit attributable to shareholders of 655 million yuan, down 49.25% [3] - The board approved the cancellation of the supervisory board, transferring its duties to the audit committee, and adjusted the expected related transactions with Shanxi Coking Coal Group to 220 million yuan [4] Financial Performance - Shanmei International reported a net profit of 655 million yuan for the first half of 2025, a decrease of 49.25% year-on-year [3][5] - The company experienced a significant drop in revenue, with a total of 9.66 billion yuan, reflecting a 31.28% decline compared to the previous year [3] - The asset-liability ratio stands at 51.95%, with a gross profit margin of 31.49%, and a negative net cash flow from operating activities of 469 million yuan [3] Corporate Governance - The company plans to abolish the supervisory board, with the audit committee taking over its responsibilities [4][5] - Shanmei International has disclosed a financial risk assessment report regarding its transactions with Shanxi Coking Coal Group [4]