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研报掘金丨天风证券:维持东华科技“买入”评级,在手订单充足,业绩向上释放有支撑
Ge Long Hui A P P·2025-09-11 06:54

Core Viewpoint - Donghua Technology reported a net profit of 240 million yuan for the first half of 2025, representing a year-on-year increase of 14.64% [1] Financial Performance - In Q2 2025, the company's revenue and net profit were 271.2 million yuan and 120 million yuan, showing year-on-year growth of 6.28% and 36.13% respectively [1] - For H1 2025, the total new contracts signed amounted to 7.781 billion yuan, reflecting a year-on-year increase of 23.78% [1] Order and Market Position - The total signed contracts for completion reached 51.339 billion yuan in H1 2025, up 28.73% year-on-year, indicating a strong order backlog [1] - The company is experiencing robust production and operational progress, with ongoing total contracting projects advancing smoothly [1] Strategic Focus - The company is focusing on technology leadership and the "T+EPC" model in the domestic market while accelerating its globalization strategy in the international market [1] - The overall performance is supported by the increase in revenue recognized according to contract fulfillment progress [1]