Core Viewpoint - Tongdahai (301378.SZ) reported a significant decline in revenue and net profit for the first half of 2025, indicating ongoing financial challenges for the company [1][2]. Financial Performance Summary - For the first half of 2025, the company achieved a revenue of 153.16 million yuan, a decrease of 14.93% compared to the same period last year [2]. - The net profit attributable to shareholders was -44.03 million yuan, representing a decline of 20.23% year-on-year [2]. - The net profit after deducting non-recurring gains and losses was -47.06 million yuan, down 16.09% from the previous year [2]. - The net cash flow from operating activities was -128.48 million yuan, a decrease of 6.42% compared to the same period last year [2]. Previous Year Comparison - In 2024, the company reported a revenue of 439.56 million yuan, down 20.08% year-on-year [3]. - The net profit attributable to shareholders for 2024 was -50.33 million yuan, a drastic decline of 192.34% compared to a profit of 54.50 million yuan in the previous year [3]. - The net profit after deducting non-recurring gains and losses was -64.30 million yuan, a decrease of 235.13% from the previous year [3]. - The net cash flow from operating activities improved to -5.91 million yuan, a 67.53% increase compared to -18.21 million yuan in the previous year [3]. IPO and Fundraising Details - Tongdahai went public on March 20, 2023, on the Shenzhen Stock Exchange's ChiNext, issuing 11.5 million shares at a price of 95.00 yuan per share [3]. - The total funds raised from the IPO amounted to 1.09 billion yuan, with a net amount of 982.88 million yuan after deducting issuance costs [4]. - The final net fundraising amount was 17.12 million yuan less than originally planned [4]. Dividend and Capital Increase Announcements - On June 1, 2023, the company announced a cash dividend of 10.00 yuan per 10 shares and a capital increase of 5 shares for every 10 shares held [6]. - For the 2023 fiscal year, the company plans to distribute a cash dividend of 5.00 yuan per 10 shares and a capital increase of 4 shares for every 10 shares held, with the record date set for June 17, 2024 [6].