凯龙高科连亏一年半 2020年上市即巅峰募资4.9亿

Core Viewpoint - Kailong High-Tech (300912.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating ongoing financial challenges despite improvements in cash flow from operating activities [1][2]. Financial Performance - The company achieved operating revenue of 315 million yuan, a decrease of 7.35% year-on-year [2]. - The net profit attributable to shareholders was -10.69 million yuan, an improvement of 85.79% compared to -75.24 million yuan in the same period last year [2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -25.48 million yuan, showing a 60.64% improvement from -64.74 million yuan year-on-year [2]. - The net cash flow from operating activities was 19.96 million yuan, a significant increase of 340.44% compared to -8.30 million yuan in the previous year [2]. Previous Year Comparison - In 2024, the company reported operating revenue of 578 million yuan, a substantial decline of 44.52% [2]. - The net profit attributable to shareholders was -277 million yuan, a drastic decrease of 3,053.67% year-on-year [2]. - The net profit after deducting non-recurring gains and losses was -280 million yuan, compared to -522.30 million yuan in the previous year [2]. - The net cash flow from operating activities was -19.01 million yuan, a decline of 137.11% [2]. Company Background - Kailong High-Tech was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on December 7, 2020, with an initial issuance of 28 million shares at a price of 17.62 yuan per share [3]. - The highest price recorded on the first trading day was 63.34 yuan, marking the peak since its listing [3]. - The total funds raised from the initial public offering amounted to 493 million yuan, with a net amount of 447 million yuan after deducting issuance costs [3]. - The company planned to use 348 million yuan for engine exhaust after-treatment system expansion and 113 million yuan for the construction of its R&D center [3].