据证券之星公开数据整理，近期珠海冠宇（688772）发布2025年中报。截至本报告期末，公司营业总收 入60.98亿元，同比上升14.03%，归母净利润1.17亿元，同比上升14.77%。按单季度数据看，第二季度 营业总收入35.99亿元，同比上升28.62%，第二季度归母净利润1.41亿元，同比上升53.09%。本报告期 珠海冠宇应收账款上升，应收账款同比增幅达32.4%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率23.31%，同比减4.42%，净利率1.12%，同比增 158.27%，销售费用、管理费用、财务费用总计6.66亿元，三费占营收比10.92%，同比减12.6%，每股净 资产6.02元，同比增5.73%，每股经营性现金流0.75元，同比增1.6%，每股收益0.1元，同比增11.11% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 53.47 Z | 60.98 Z | 14.03% | | 归母净利润(元) | 1.02亿 | 1.17亿 | 14.77% | | 扣非净利润(元) | 2 ...

货币资金变动幅度为127.89%,原因:本期理财产品到期。 应收款项变动幅度为-43.33%,原因:公司季节性销售影响。 存货变动幅度为35.4%,原因:图书采购增加。 据证券之星公开数据整理，近期世纪天鸿（300654）发布2025年中报。截至本报告期末，公司营业总收 入1.56亿元，同比下降4.57%，归母净利润275.56万元，同比下降63.57%。按单季度数据看，第二季度 营业总收入5281.54万元，同比下降17.41%，第二季度归母净利润-248.81万元，同比下降592.83%。本报 告期世纪天鸿公司应收账款体量较大，当期应收账款占最新年报归母净利润比达398.39%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率36.63%，同比减6.42%，净利率1.79%， 同比减64.22%，销售费用、管理费用、财务费用总计5385.98万元，三费占营收比34.63%，同比增 8.89%，每股净资产2.27元，同比增1.59%，每股经营性现金流0.14元，同比增2456.81%，每股收益0.01 元，同比减61.9% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | -- ...

据证券之星公开数据整理，近期西菱动力（300733）发布2025年中报。截至本报告期末，公司营业总收 入8.65亿元，同比上升19.66%，归母净利润5585.95万元，同比上升130.08%。按单季度数据看，第二季 度营业总收入4.77亿元，同比上升41.99%，第二季度归母净利润3485.7万元，同比上升146.16%。本报 告期西菱动力应收账款上升，应收账款同比增幅达31%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率18.57%，同比增11.91%，净利率7.53%，同比增 65.23%，销售费用、管理费用、财务费用总计4739.19万元，三费占营收比5.48%，同比减6.54%，每股 净资产5.47元，同比增4.85%，每股经营性现金流-0.28元，同比减203.91%，每股收益0.18元，同比增 129.52% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 7.23亿 | 8.65亿 | - 19.66% | | 归母净利润(元) | 2427.8万 | 5585.95万 | 130.08% ...

Core Insights - Zhejiang Xiantong (603239) reported a total revenue of 672 million yuan for the first half of 2025, representing a year-on-year increase of 21.1% [1] - The net profit attributable to shareholders reached 107 million yuan, up 17.1% year-on-year [1] - The company has a significant accounts receivable issue, with accounts receivable amounting to 271.86% of the net profit [1] Financial Performance - Total revenue for Q2 2025 was 329 million yuan, a 15.26% increase year-on-year [1] - Q2 net profit attributable to shareholders was approximately 40.35 million yuan, a 2.25% increase year-on-year [1] - Gross margin decreased to 29.94%, down 2.85% year-on-year, while net margin fell to 15.93%, down 3.31% year-on-year [1] Expense Analysis - Total selling, administrative, and financial expenses amounted to 54.47 million yuan, accounting for 8.11% of revenue, an increase of 2.63% year-on-year [1] - Significant changes in financial items include a 54.6% decrease in cash and cash equivalents due to reduced bank deposits [1][2] Accounts and Liabilities - Accounts receivable increased by 22.86% to 467 million yuan [1] - Interest-bearing liabilities surged by 130.76% to 360,900 yuan [1] - The company reported a 161.64% increase in accounts payable due to an increase in outstanding acceptance bills [5] Cash Flow and Returns - Operating cash flow per share improved to 0.01 yuan, a 138.33% increase year-on-year [1] - The company's return on invested capital (ROIC) was 15.3%, indicating strong capital returns [7] - Historical data shows a median ROIC of 14.88% since the company went public, with a notable low of 9.24% in 2019 [7] Analyst Expectations - Analysts project a total profit of 252 million yuan for 2025, with an average earnings per share of 0.93 yuan [7]

据证券之星公开数据整理，近期索菱股份（002766）发布2025年中报。截至本报告期末，公司营业总收 入4.44亿元，同比下降31.22%，归母净利润578.41万元，同比下降74.07%。按单季度数据看，第二季度 营业总收入2.31亿元，同比下降30.76%，第二季度归母净利润471.54万元，同比下降62.68%。本报告期 索菱股份公司应收账款体量较大，当期应收账款占最新年报归母净利润比达209.68%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率24.46%，同比增13.57%，净利率1.13%， 同比减66.94%，销售费用、管理费用、财务费用总计5536.29万元，三费占营收比12.47%，同比增 14.59%，每股净资产1.32元，同比增55.26%，每股经营性现金流-0.06元，同比减163.29%，每股收益 0.01元，同比减74.14% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 6.45 亿 | 4.441Z | -31.22% | | 归母浄利润（元） | 2230.69万 ...

据证券之星公开数据整理，近期立霸股份（603519）发布2025年中报。截至本报告期末，公司营业总收 入8.17亿元，同比下降0.03%，归母净利润7644.99万元，同比上升0.45%。按单季度数据看，第二季度 营业总收入3.99亿元，同比下降6.09%，第二季度归母净利润4173.24万元，同比下降6.26%。本报告期 立霸股份盈利能力上升，毛利率同比增幅33.89%，净利率同比增幅0.47%。 本次财报公布的各项数据指标表现一般。其中，毛利率15.65%，同比增33.89%，净利率9.35%，同比增 0.47%，销售费用、管理费用、财务费用总计628.51万元，三费占营收比0.77%，同比增203.41%，每股 净资产4.31元，同比减8.34%，每股经营性现金流0.58元，同比增67.45%，每股收益0.29元 财务报表中对有大幅变动的财务项目的原因说明如下： 合同负债变动幅度为51.55%,原因:报告期末预收销售货款增加。 交易性金融资产变动幅度为-54.55%,原因:本报告期末购买结构性存款减少。 | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | -- ...

据证券之星公开数据整理，近期标榜股份（301181）发布2025年中报。截至本报告期末，公司营业总收 入2.69亿元，同比上升8.18%，归母净利润6085.5万元，同比下降0.7%。按单季度数据看，第二季度营 业总收入1.39亿元，同比上升13.14%，第二季度归母净利润2959.04万元，同比上升3.41%。本报告期标 榜股份公司应收账款体量较大，当期应收账款占最新年报归母净利润比达87.57%。 本次财报公布的各项数据指标表现一般。其中，毛利率32.43%，同比减0.53%，净利率22.38%，同比减 9.31%，销售费用、管理费用、财务费用总计1623.46万元，三费占营收比6.04%，同比增2.92%，每股净 资产12.34元，同比增2.61%，每股经营性现金流0.37元，同比减30.66%，每股收益0.53元，同比增1.92% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.48 Z | 2.69ZZ | 8.18% | | 归母净利润(元) | 6128.33万 | 6085.5万 | -0.7 ...

Core Viewpoint - Haiyang Technology (603382) reported a decline in total revenue for the first half of 2025, while net profit showed a slight increase, indicating mixed financial performance amid challenges in revenue generation [1] Financial Performance Summary - Total revenue for the first half of 2025 was 2.358 billion yuan, a decrease of 14.01% year-on-year [1] - Net profit attributable to shareholders was 78.8462 million yuan, an increase of 1.61% year-on-year [1] - Gross margin improved to 9.56%, up 21.84% year-on-year, while net margin rose to 3.59%, an increase of 21.17% [1] - Operating cash flow per share significantly increased to 0.78 yuan, a rise of 333.18% year-on-year [1] Key Financial Metrics - The company reported a total of 5.66 billion yuan in accounts receivable, down 13.82% year-on-year [1] - Cash and cash equivalents increased to 9.37 billion yuan, up 80.90% year-on-year, attributed to funds raised from the initial public offering [1][8] - Total liabilities decreased to 5.95 billion yuan, down 6.55% year-on-year [1] Cost and Expense Analysis - Total selling, administrative, and financial expenses amounted to 56.0751 million yuan, representing 2.38% of revenue, an increase of 31.19% year-on-year [1] - Operating costs decreased by 15.61% due to lower raw material prices [8] - Research and development expenses increased by 20.34%, indicating a focus on innovation [8] Business Model Insights - The company's performance is heavily reliant on capital expenditures, necessitating careful evaluation of the profitability of these investments [9] - The cash flow situation is a concern, with cash and cash equivalents covering only 69.02% of current liabilities [9] - Accounts receivable have reached 341.45% of profit, highlighting potential liquidity issues [9]

Core Viewpoint - Wiyang Control (300420) reported a significant increase in net profit and revenue for the first half of 2025, indicating improved profitability and operational efficiency [1] Financial Performance Summary - Total revenue for H1 2025 reached 459 million yuan, a year-on-year increase of 1.56% compared to 452 million yuan in H1 2024 [1] - Net profit attributable to shareholders was 23.1 million yuan, up 366.75% from a loss of 8.7 million yuan in the same period last year [1] - The gross profit margin improved to 27.65%, reflecting a year-on-year increase of 4.75% [1] - The net profit margin turned positive at 5.69%, a significant increase of 387.83% from -1.98% in H1 2024 [1] - Total expenses (selling, administrative, and financial) amounted to 74.3 million yuan, accounting for 16.2% of revenue, down 11.23% year-on-year [1] Cash Flow and Debt Management - Operating cash flow per share increased to 0.11 yuan, a rise of 376.88% from -0.04 yuan in the previous year [1] - The company reported a decrease in interest-bearing debt to 58.5 million yuan, down 46.70% from 110 million yuan [1] - Cash and cash equivalents decreased by 49.55% to 144 million yuan [1] Investment and Return Metrics - The company’s return on invested capital (ROIC) has been historically low, with a median of 6.66% since its listing, indicating average investment returns [2] - The most challenging year was 2021, with a ROIC of -5.83%, highlighting the company's fragile business model [2]

Core Viewpoint - Dayuan Pump Industry (603757) reported mixed financial results for the first half of 2025, with revenue growth but a significant decline in net profit compared to the previous year [1]. Financial Performance Summary - Total revenue for the first half of 2025 reached 965 million yuan, an increase of 14.55% year-on-year [1]. - Net profit attributable to shareholders was 101 million yuan, down 27.99% year-on-year [1]. - In Q2 2025, total revenue was 585 million yuan, up 3.46% year-on-year, while net profit was 61.64 million yuan, a decrease of 37.88% year-on-year [1]. - The gross margin was 26.98%, a decrease of 11.56% year-on-year, and the net margin was 10.2%, down 37.56% year-on-year [1]. - Total receivables accounted for 187.61% of the latest annual net profit, indicating a significant receivables issue [5]. Key Financial Metrics - Cash and cash equivalents increased by 27.13% to 706 million yuan [1]. - Accounts receivable rose by 11.67% to 479 million yuan [1]. - Interest-bearing debt increased by 7.78% to 441 million yuan [1]. - Earnings per share decreased by 27.38% to 0.61 yuan [1]. - Operating cash flow per share increased by 92.45% to 0.51 yuan [1]. Changes in Financial Items - Significant changes in financial items included a 40.85% increase in cash due to the maturity of structured deposits [2]. - Trade receivables increased by 49.14%, while accounts payable rose by 37.87% due to increased acceptance bills [3][4]. - Research and development expenses increased by 19.07% as the company intensified its R&D efforts [4]. Market Position and Analyst Expectations - The company's return on invested capital (ROIC) was 12.31% last year, indicating strong capital returns [5]. - Analysts expect the company's performance in 2025 to reach 257 million yuan, with an average earnings per share forecast of 1.56 yuan [5].