Cybrid(SH:603212) Zhong Guo Jing Ji Wang·2025-10-09 02:50Core Insights - Saiwu Technology (603212.SH) reported a significant decline in revenue and net profit for the first half of 2025, with revenue at 1.35 billion yuan, down 18.13% year-on-year, and a net loss of approximately 72.1 million yuan compared to a loss of 15.5 million yuan in the same period last year [1][2]. Financial Performance - Revenue for the first half of 2025 was 1,352,372,423.13 yuan, a decrease of 18.13% from 1,651,952,291.90 yuan in the previous year [2]. - The total profit for the period was -92,725,363.47 yuan, compared to -39,022,877.29 yuan in the previous year, indicating a worsening financial situation [2]. - The net profit attributable to shareholders was -72,096,068.15 yuan, compared to -15,487,289.88 yuan in the same period last year [2]. - The net profit after excluding non-recurring gains and losses was -74,678,534.18 yuan, down from -17,385,258.86 yuan year-on-year [2]. - The net cash flow from operating activities was 74,681,403.16 yuan, a decline of 15.36% from 88,237,369.54 yuan in the previous year [2]. Historical Context - Saiwu Technology was listed on the Shanghai Stock Exchange on April 30, 2020, with an initial public offering of 40.01 million shares at a price of 10.46 yuan per share, raising a total of 418.50 million yuan [3]. - The funds raised were intended for various projects, including the production of solar backplanes and high-end functional materials [3]. - In 2021, the company issued convertible bonds, raising a total of 700 million yuan, with net proceeds of approximately 694.5 million yuan after expenses [4][5].