Sinocat(SH:688737) Zhong Guo Jing Ji Wang·2025-09-12 02:31Core Viewpoint - Zhongzi Technology (688737.SH) reported a revenue of 780 million yuan for the first half of 2025, marking a year-on-year increase of 5.65%, but faced a net loss attributable to shareholders of 11.92 million yuan [1][2]. Financial Performance - The company achieved a revenue of 780.39 million yuan in the first half of 2025, up from 738.68 million yuan in the same period last year, reflecting a growth of 5.65% [2]. - The total profit for the period was -16.60 million yuan, a significant decline of 774.50% compared to a profit of 2.46 million yuan in the previous year [2]. - The net profit attributable to shareholders was -11.92 million yuan, a decrease of 313.86% from a profit of 5.57 million yuan in the same period last year [2]. - The net cash flow from operating activities was -30.85 million yuan, compared to a positive cash flow of 8.36 million yuan in the previous year, indicating a decline of 469.16% [2]. Historical Performance - In 2024, Zhongzi Technology reported a revenue of 1.56 billion yuan, a slight increase of 1.35% from 1.54 billion yuan in 2023 [3]. - The net profit attributable to shareholders for 2024 was -26.21 million yuan, a drastic drop of 161.94% from a profit of 42.32 million yuan in 2023 [3]. - The net cash flow from operating activities in 2024 was -156.88 million yuan, an improvement from -360.85 million yuan in 2023 [3]. Stock Market Performance - Zhongzi Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 22, 2021, with an initial price of 70.90 yuan per share. The stock opened at 70.00 yuan on its first day and reached a high of 70.50 yuan, but is currently trading below its initial offering price [3]. Fundraising and Use of Proceeds - The company raised a total of 1.525 billion yuan through the issuance of 21.51 million shares, with a net amount of 1.407 billion yuan after deducting issuance costs, which was 52.72 million yuan less than originally planned [4]. - The funds raised are intended for projects including the intelligent manufacturing park for new catalysts, automotive after-treatment device manufacturing, and research capabilities for catalysts meeting the National VI B emission standards [5].