KENGIC(SH:688455) Zhong Guo Jing Ji Wang·2025-09-07 07:37Core Viewpoint - KJ Intelligent (688455.SH) reported a slight increase in revenue but continued to face net losses in the first half of 2025, indicating ongoing financial challenges despite some improvements in profitability metrics compared to the previous year [1][2]. Financial Performance - The company achieved operating revenue of 492 million CNY, a year-on-year increase of 2.24% [1][2]. - The net profit attributable to shareholders was -37.28 million CNY, an improvement from -42.40 million CNY in the same period last year [1][2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -41.59 million CNY, compared to -48.15 million CNY in the previous year [1][2]. - The net cash flow from operating activities was -291 million CNY, worsening from -104 million CNY year-on-year [1][2]. Future Projections - For the years 2023 and 2024, the company is projected to have net profits of -77.93 million CNY and -58.63 million CNY, respectively [2][3]. - The net profit after deducting non-recurring gains and losses for the same years is expected to be -98.19 million CNY and -74.48 million CNY [2][3]. Stock Market Performance - KJ Intelligent's stock reached a peak price of 24.92 CNY on its first trading day but is currently in a state of decline [4]. - The company raised a total of 989.25 million CNY through its initial public offering, exceeding its original fundraising target by 442.99 million CNY [4]. Use of Proceeds - The funds raised are intended for expanding smart logistics and intelligent manufacturing systems, building marketing and after-sales service networks, and establishing a research and development center [4]. IPO Costs - The total issuance costs for the IPO amounted to 97.87 million CNY, with underwriting fees constituting a significant portion of this amount [5].