证券代码：000852 证券简称：石化机械 中石化石油机械股份有限公司投资者关系活动记录表 编号：2025-003 投资者关系活动类别 特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 路演活动 □现场参观 □其他（请文字说明其他活动内容） 活动参与人员 线上参与公司 2025 年半年度业绩说明会的全体投资者 上市公司接待人员 董事长：王峻乔 独立董事：郭 炜 财务总监：魏 钢 董事会秘书：王务红 时间 2025 年 8 月 26 日（星期二）下午 15:30-17:00 地点 价值在线（https://www.ir-online.cn/） 形式 网络文字互动交流 交流内容及具体问答 记录 交流主要内容： 1.问：董事长你好，公司每年有那么多应收账款，为 什么不收回？ 答:您好！感谢您的关注。公司一直以来高度重视应 收账款的清收工作，并制定了公司应收款项管理提升专项 行动方案（2025-2027 年），成立专项行动工作专班，建 立由销售、经营、财务、法律等多部门协同发力的工作运 行机制，按照"降存量、提质量，强管理、控增量"总体 目标，推动专项行动开展，公司 2025 年 1-6 月销售商品、 ...

本次财报公布的各项数据指标表现一般。其中，毛利率24.16%，同比减3.1%，净利率9.45%，同比减 15.5%，销售费用、管理费用、财务费用总计3.56亿元，三费占营收比9.59%，同比增10.6%，每股净资 产10.79元，同比增10.87%，每股经营性现金流0.9元，同比增284.96%，每股收益0.8元，同比减2.02% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 34.05 Z | 37.11亿 | 9.00% | | 归母净利润(元) | 3.27 乙 | 3.2亿 | -2.02% | | 扣非净利润(元) | 3.24Z | 3.06亿 | -5.52% | | 货币资金(元) | 6.75亿 | ﻛ 11.26亿 | 66.87% | | 应收账款(元) | 38.15 乙 | 45.08亿 | 18.19% | | 有息负债(元) | 16.81亿 | 29.13 亿 | 73.36% | | 毛利率 | 24.93% | 24.16% | -3.10% | | 净利率 | 11.18% ...

登录新浪财经APP 搜索【信披】查看更多考评等级 近日，航亚科技（688510.SH）发布的2025年上半年财务报告显示，公司上半年实现营收3.69亿元，同 比增长8.76%；归母净利润6121.27万元，同比减少8.92%；扣非归母净利润5389.95万元，同比下降 18.35%。 《中国经营报》记者注意到，该公司上半年净利润同比减少主要由股份支付所致。同时，公司的应收账 款在近年持续增加，其规模已超过上半年营收。 记者就公司股份支付及应付账款等问题致电、致函航亚科技，该公司邮件回复记者表示，公司非常重视 与媒体的沟通，根据上市公司信息披露的合规要求，公司的核心经营数据及重大事项（如股权激励方 案）的权威信息，均需通过定期报告及专项公告等形式进行统一、规范的披露。可以查阅公司公开披露 的2024年度报告、2025年半年度报告、2025年度"提质增效重回报"行动方案等相关资料。 上半年"三费"齐涨 航亚科技是一家专注于航空发动机和燃气轮机关键零部件及医疗骨科植入锻件的研发、生产及销售的制 造企业。该公司业务涵盖民用航空发动机、军用航空发动机、燃气轮机以及医疗骨科植入件等多个装备 制造领域，是法国赛峰、美国GE ...

Core Insights - The company reported a total operating revenue of 2.15 billion yuan for the first half of 2025, representing a year-on-year increase of 36.38%. However, the net profit attributable to shareholders decreased by 26.97% to 81.55 million yuan, indicating a decline in profitability despite revenue growth [2][8]. Financial Overview - The second quarter revenue was 1.045 billion yuan, up 2.75% year-on-year, but the net profit attributable to shareholders fell by 28.73% to 46.51 million yuan, reflecting continued deterioration in profitability [3]. - The gross margin was reported at 13.28%, down 31.3% year-on-year, while the net margin decreased by 38.22% to 5.17% [9]. - The company’s accounts receivable surged by 2233.38% to 805 million yuan, raising concerns about potential bad debt risks [5]. - Operating cash flow per share increased by 334.31% to 1.07 yuan, indicating improvement in sales collection [5][9]. Business Composition - The main business segments include renewable energy and real estate development. The renewable energy sector encompasses wind, solar, energy storage, and hydrogen energy, while real estate activities are concentrated in Qingyuan, Shaoxing, and Wuhan [7]. Revenue Breakdown - Mineral trade generated 1.448 billion yuan, accounting for 67.33% of total revenue with a gross margin of 2.25% - Real estate sales contributed 301 million yuan, representing 13.99% of total revenue with a gross margin of 39.19% - Solar power revenue was 179 million yuan, making up 8.35% of total revenue with a gross margin of 57.75% - Energy storage system sales brought in 176 million yuan, accounting for 8.20% of total revenue with a gross margin of 8.09% [10].

Revenue and Profit - The total revenue for the company in the first half of 2025 was 984 million yuan, a year-on-year decrease of 7.19%. However, the net profit attributable to shareholders reached 76.92 million yuan, an increase of 26.90% year-on-year, indicating effective cost control and improved profitability [1] - In the second quarter, total revenue was 538 million yuan, down 10.72% year-on-year, while the net profit attributable to shareholders was 32.55 million yuan, up 16.08% year-on-year, demonstrating strong profit growth despite revenue pressure [2] Financial Indicators - The gross profit margin was 31.96%, a decrease of 1.44 percentage points year-on-year. The net profit margin was 7.79%, an increase of 36.56% year-on-year. The ratio of operating expenses to revenue was 18.76%, down 13.84 percentage points year-on-year. Earnings per share increased by 26.61% to 0.14 yuan [7] Accounts Receivable and Cash Flow - The company had a significant amount of accounts receivable, which accounted for 301.14% of the latest annual net profit. Accounts receivable amounted to 121 million yuan, a decrease of 31.69% from the previous year. Despite the reduction, the absolute value remains high, potentially impacting cash flow [4] - The net cash flow from operating activities increased by 21.69% year-on-year, primarily due to reduced spending on raw materials and operating expenses [4] Main Revenue Composition - Revenue from fresh products was 597 million yuan, accounting for 60.71% of total revenue. Revenue from rice products was 312 million yuan, making up 31.67% of total revenue, with a gross margin of 21.92%. Other revenue sources included slaughter processing at 40.54 million yuan (4.12%), packaging products at 19.35 million yuan (1.97%), and other business income at 14.63 million yuan (1.49%), with a gross margin of 11.86% [5] Development Review and Outlook - The company focuses on the research, production, and sales of marinated meat products and quick-service cold dishes, operating in the agricultural and sideline food processing industry. To adapt to changing consumer scenarios and underwhelming store expansion, the company is enhancing brand influence and product competitiveness through brand rejuvenation and terminal empowerment [6] - Despite a decline in revenue in the first half of 2025, net profit grew due to lower raw material costs and reduced sales expenses. However, high accounts receivable remains a concern that the company needs to address to ensure stable cash flow [6]

公司回答表示：您好！随着信息数据业务的增长，公司应收账款相应有所增加。公司采用以下措施进行 应对：加强重大项目的预评估，谨慎选择项目，主动放弃存在较大不可控风险的项目；主管部门/领导 制定合理的应收款考核、激励制度，加强对业务部门的应收款工作管理及穿透，激励各营销人员实施应 收账款的回收；制定对账龄较长的应收账款的处置措施，根据实际情况采取提请诉讼、出售债权等办 法，尽可能回收应收账款；同时出于谨慎考虑，对应收账款实施合理的坏账计提，以有效防范坏账可能 给公司带来的风险。感谢您对公司的关注！责任编辑：栎树 金融界8月1日消息，有投资者在互动平台向依米康提问：公司1季度应收账款7亿？公司收账的期限是多 久？存在延长宽限期的情况吗？7亿对应坏账计提是多少？最大的欠款单位是？ ...

Core Viewpoint - The company has initiated a new computing power business, generating revenue of 27.32 million yuan with a gross profit margin of 30.98% during the reporting period. Significant changes in the top five suppliers were noted, with new suppliers contributing to 22% of total procurement. The company’s fixed assets increased by 131% year-on-year, primarily due to the completion of construction projects and the purchase of computing power-related equipment [1][2][3]. Group 1: Computing Power Business Overview - The computing power business operates on a rental service model, with revenue recognition based on service confirmation documents. The company has two main projects: one with China Mobile and another with SenseTime, with revenue recognition policies aligned with industry standards [1][2]. - The company’s computing power business generated a total revenue of 27.30 million yuan, with a gross profit margin of 30.93% for the China Mobile project and 30.93% for the SenseTime project [5][6]. Group 2: Supplier and Customer Relationships - The company has two main customers for its computing power business, with significant procurement from two new suppliers: Fujian Haixia Xingyun Information Technology Co., Ltd. and Suzhou Guangyun Zhican Technology Co., Ltd., accounting for 22% of total procurement [1][3]. - The company’s procurement process involves selecting suppliers based on market research and ensuring that procurement prices are at fair market levels. The sales process includes signing rental service contracts and providing maintenance services [2][4]. Group 3: Financial Metrics and Comparisons - The company’s fixed assets reached 256 million yuan, reflecting a 131% increase year-on-year, attributed to the completion of construction projects and the acquisition of computing power equipment [1][2]. - The gross profit margin of the computing power business is 30.93%, which is lower than some comparable companies in the industry, indicating that the business is still in its early stages and may face higher costs initially [5][6].

Core Viewpoint - The company, Taihao Technology, reported a stable revenue of 4.356 billion yuan for 2024, with a significant decline in military equipment revenue and a substantial increase in emergency equipment revenue, reflecting contrasting trends in its business segments [1]. Business Performance - The military equipment segment generated 1.42 billion yuan in revenue, a decrease of 31.14% year-on-year, while the emergency equipment segment achieved 2.867 billion yuan, marking a growth of 60.00% [1]. - The company's accounts receivable at the end of the period stood at 4.747 billion yuan, with a bad debt provision of 1.038 billion yuan, indicating that accounts receivable accounted for 30% of total assets [1]. Industry Context - The military electronics industry has entered a cyclical adjustment phase since 2022 due to global geopolitical conflicts and policy changes, leading to a slowdown in downstream demand and a decrease in the market size compared to the "13th Five-Year Plan" period [1]. - A total of 93 out of 143 listed companies in the military industry reported a decline in net profit for 2024, indicating the worst annual performance in nearly a decade for the sector [1]. Customer Dynamics - The revenue from the top five customers has decreased over the past three years, with their contribution to total revenue dropping from 55.86% in 2022 to 51.88% in 2024, reflecting a decline in customer concentration and demand [1]. - The direct military procurement from the top five customers has also shown a downward trend, further impacting the company's performance [1]. Emergency Equipment Growth - The emergency equipment sector has seen a stable customer base, with significant demand for emergency power products and vehicles, supported by a 45% year-on-year increase in the budget for emergency material reserves by the Ministry of Finance in 2024 [4]. - The company has maintained a leading position in the industry regarding supply chain efficiency and product quality, resulting in a growth rate that significantly outpaces its peers [6].

Core Viewpoint - Dongxin Co., Ltd. has shown a significant stock price increase of 42.57% year-to-date, but faces serious operational challenges with consecutive net losses projected for 2023 and 2024, raising concerns about its financial health [1][3]. Financial Performance - The company reported a net profit decline starting in 2022, with a projected loss of 0.59 billion yuan in Q1 2025 [1]. - As of July 22, 2023, the company's A-share market capitalization stood at 15.7 billion yuan [1]. Inventory Issues - Dongxin's inventory balance reached 1.121 billion yuan at the end of 2024, accounting for 161.87% of operating costs and 34.16% of current assets [3]. - The company reported a decrease in inventory impairment provision by 33% year-on-year, raising concerns about the adequacy of provisions given the high inventory levels [3]. Gross Margin Fluctuations - The overall gross margin for 2024 was 13.99%, an increase of 2.42 percentage points year-on-year, but product-specific margins varied significantly [6]. - NAND and NOR product margins increased by 8.25 and 6.89 percentage points respectively, while DRAM margins decreased by 7.01 percentage points [6]. Accounts Receivable Concerns - Accounts receivable surged to 159 million yuan at the end of 2024, a year-on-year increase of 67.86%, significantly outpacing revenue growth of 20.8% [6]. - The company reported a 121.59% increase in accounts receivable from direct sales customers, with only a slight increase in bad debt provisions, raising questions about credit policies [6]. Transparency of Overseas Assets - The company has overseas assets valued at 552 million yuan, constituting 15.64% of total assets, but lacks detailed disclosure on their distribution and usage [7]. - There are discrepancies noted by auditors regarding export revenue and VAT declarations, indicating potential risks in revenue recognition [7].

Group 1 - The company expects to achieve a net profit attributable to shareholders of the parent company between 12 million and 18 million yuan for the first half of 2025, marking a turnaround from a loss in the previous year [1][2] - The net profit for the same period last year was approximately -108.13 million yuan, with an earnings per share of -0.23 yuan [1] - The main reasons for the profit increase include active expansion in urban renewal and new cultural tourism business areas, although the implementation cycle of project orders remains relatively long due to macroeconomic fluctuations [1][2] Group 2 - The company plans to enhance operational efficiency by continuing cost reduction and efficiency improvement efforts, as well as optimizing internal control and management mechanisms [2] - The company aims to strengthen its accounts receivable management system, focusing on high-risk receivables and long-aged accounts to improve turnover efficiency and overall profitability [2]