BRIGHT DAIRY(SH:600597) Sou Hu Cai Jing·2025-09-05 13:12Core Viewpoint - Bright Dairy's revenue and net profit decreased in the first half of 2025 compared to the same period in 2024, indicating challenges in the company's financial performance [1][2]. Financial Performance - In the first half of 2025, Bright Dairy reported a revenue of 12.47 billion yuan, a decrease of 1.9% year-on-year [2]. - The net profit attributable to shareholders was 217.24 million yuan, down 22.53% from the previous year [2]. - The net profit after deducting non-recurring gains and losses was 252 million yuan, reflecting a decline of 27.79% year-on-year [2]. - The total profit for the period was 270.81 million yuan, an increase of 14.55% compared to the same period last year [2]. Cash Flow - The net cash flow from operating activities was 417.24 million yuan, showing a significant increase of 82.28% year-on-year, attributed to relocation compensation received [2][3]. Regional Performance - Revenue from the Shanghai region was 3.49 billion yuan, down 6.93% year-on-year [5]. - Revenue from other regions was 4.99 billion yuan, a decrease of 1.52% [5]. - Revenue from overseas regions was 3.94 billion yuan, an increase of 1.92% [5]. Asset Overview - As of the end of June 2025, Bright Dairy's overseas assets amounted to 7.14 billion yuan, accounting for 31.49% of total assets [5]. - The overseas investment in New Zealand's New Lite, which primarily produces various dairy products, reported a revenue of 3.95 billion yuan but incurred a net loss of 63.46 million yuan in the first half of 2025 [6].