Core Viewpoint - The stock of Garden Co. has experienced significant fluctuations, with a year-to-date increase of 106.07%, but a recent decline of 20.47% over the past five trading days [1] Group 1: Stock Performance - As of September 4, Garden Co.'s stock price was 15.62 CNY per share, with a market capitalization of 2.519 billion CNY [1] - The stock has seen a trading volume of 165 million CNY and a turnover rate of 6.44% [1] - The company has appeared on the "Dragon and Tiger List" 12 times this year, with the most recent appearance on August 29 [1] Group 2: Financial Performance - For the first half of 2025, Garden Co. reported a revenue of 288 million CNY, a year-on-year decrease of 10.61% [2] - The net profit attributable to shareholders was -74.4346 million CNY, reflecting a year-on-year decrease of 23.19% [2] Group 3: Shareholder Information - As of June 30, the number of shareholders for Garden Co. was 9,637, a decrease of 31.76% from the previous period [2] - The average number of circulating shares per shareholder increased by 46.55% to 16,731 shares [2] Group 4: Dividend Information - Since its A-share listing, Garden Co. has distributed a total of 48.3712 million CNY in dividends, with no dividends paid in the last three years [3]

Core Insights - The company reported a decline in revenue and net profit for the first half of 2025, with total revenue at 288 million yuan, down 10.61% year-on-year, and a net loss of 74.43 million yuan, a decrease of 23.19% year-on-year [1][2]. Financial Performance - Basic earnings per share for the first half of 2025 were -0.46 yuan, with a weighted average return on equity of -7.52% [2]. - The company's gross margin was 5.59%, down 7.63 percentage points year-on-year, while the net margin was -26.00%, a decline of 7.56 percentage points compared to the previous year [2]. - In Q2 2025, the gross margin dropped to 0.96%, down 12.95 percentage points year-on-year and 7.98 percentage points quarter-on-quarter, with a net margin of -48.40%, a decrease of 26.10 percentage points year-on-year and 38.60 percentage points quarter-on-quarter [2]. Cost Management - Total operating expenses for the first half of 2025 were 37.06 million yuan, a reduction of 18.68 million yuan year-on-year, with an expense ratio of 12.86%, down 4.43 percentage points from the previous year [2]. - Sales expenses decreased by 31.17%, management expenses fell by 4.34%, R&D expenses dropped by 42.09%, and financial expenses decreased by 965.33% [2]. Shareholder Dynamics - As of the end of the first half of 2025, the total number of shareholders was 9,637, a decrease of 4,486 shareholders or 31.76% from the previous quarter, while the average market value per shareholder increased from 105,300 yuan to 217,000 yuan, an increase of 106.16% [3]. Company Overview - The company, Hangzhou Garden Landscape Co., Ltd., is located in Hangzhou, Zhejiang Province, and was established on September 28, 1992. It was listed on March 1, 2021 [3]. - The main business activities include landscape engineering construction, landscape design, flower seedling research and production, and landscape maintenance, with the revenue composition being 87.85% from municipal engineering, 5.33% from operation and maintenance, and smaller contributions from other segments [3].