据证券之星公开数据整理，近期艾布鲁（301259）发布2025年中报。截至本报告期末，公司营业总收入 1.48亿元，同比上升98.03%，归母净利润-890.57万元，同比上升67.23%。按单季度数据看，第二季度营 业总收入9048.43万元，同比上升80.31%，第二季度归母净利润-1741.58万元，同比上升25.06%。本报告 期艾布鲁公司应收账款体量较大，当期应收账款占最新年报营业总收入比达115.21%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率29.68%，同比减15.8%，净利率-6.33%，同比增 82.69%，销售费用、管理费用、财务费用总计2322.1万元，三费占营收比15.73%，同比减35.36%，每股 净资产5.29元，同比减1.46%，每股经营性现金流0.07元，同比增122.92%，每股收益-0.06元，同比增 67.22% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 7454.02万 | 1.48亿 | 98.03% | | 归母净利润(元) | -2717.71万 ...

据证券之星公开数据整理，近期舒泰神（300204）发布2025年中报。根据财报显示，舒泰神净利润同比 下降619.7%。截至本报告期末，公司营业总收入1.26亿元，同比下降31.14%，归母净利润-2463.56万 元，同比下降619.7%。按单季度数据看，第二季度营业总收入6238.33万元，同比下降28.63%，第二季 度归母净利润-2230.05万元，同比下降6538.03%。 投资活动产生的现金流量净额变动幅度为46.96%,原因:本期投资活动现金流出减少。 筹资活动产生的现金流量净额变动幅度为1347.91%,原因:本期收到无锡金易原力股权投资合伙企业（有 限合伙）投资款。 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77.77%，同比减5.52%，净利 率-23.28%，同比减1140.24%，销售费用、管理费用、财务费用总计8126.21万元，三费占营收比 64.7%，同比增22.94%，每股净资产2.19元，同比减0.13%，每股经营性现金流-0.14元，同比减 204.75%，每股收益-0.05元，同比减400.0% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 ...

| 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 11.23亿 | 11.25 亿 | 0.17% | | 归母净利润(元) | 1.05亿 | 1.25 亿 | 18.94% | | 扣非净利润(元) | 1.03亿 | 1.23亿 | 19.40% | | 货币资金(元) | 3.2亿 | 3.3亿 | 3.06% | | 应收账款(元) | 9.43亿 | 10.02亿 | 6.22% | | 有息负债(元) | 7.02亿 | 6.68/Z | -4.86% | | 手利率 | 30.19% | 32.66% | 8.18% | | 净利率 | 10.33% | 12.18% | 17.85% | | 三费占营收比 | 15.95% | 16.18% | 1.43% | | 每股净资产 (元) | 5.54 | 5.95 | 7.40% | | 每股收益(元) | 0.24 | 0.28 | 16.67% | | 每股经营性现金流(元) | 0.2 | 0.17 | -14.43% | 财务报表中对有大幅变 ...

财务报表中对有大幅变动的财务项目的原因说明如下： 据证券之星公开数据整理，近期海程邦达（603836）发布2025年中报。截至本报告期末，公司营业总收 入42.24亿元，同比下降6.4%，归母净利润1791.55万元，同比下降74.85%。按单季度数据看，第二季度 营业总收入21.22亿元，同比下降16.64%，第二季度归母净利润2745.4万元，同比下降31.61%。本报告 期海程邦达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1861.26%。 交易性金融资产变动幅度为1173.68%,原因:理财产品购买增加。 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5.93%，同比减11.4%，净利率0.37%，同 比减76.88%，销售费用、管理费用、财务费用总计2.26亿元，三费占营收比5.34%，同比增20.2%，每股 净资产8.74元，同比增0.13%，每股经营性现金流0.26元，同比增116.73%，每股收益0.09元，同比减 74.29% 经营活动产生的现金流量净额变动幅度为116.73%,原因:本期销售回款增加。 应收票据变动幅度为142.04%,原因:银行承兑汇票增加。 使用 ...

Core Viewpoint - The financial performance of Libang Instruments (300206) for the first half of 2025 shows a decline in total revenue but an increase in net profit, indicating mixed results in operational efficiency and profitability [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 was 914 million yuan, a decrease of 0.91% compared to the same period in 2024 [1]. - Net profit attributable to shareholders reached 154 million yuan, reflecting a year-on-year increase of 23.47% [1]. - In Q2 2025, total revenue was 493 million yuan, up 3.12% year-on-year, while net profit for the quarter was 89.36 million yuan, an increase of 3.22% [1]. - The gross margin was 58.58%, a slight decrease of 0.25% year-on-year, while the net margin improved to 16.99%, up 23.95% [1]. - Total operating expenses (sales, management, and financial expenses) amounted to 234 million yuan, accounting for 25.66% of revenue, down 11.01% year-on-year [1]. Key Financial Ratios - Earnings per share (EPS) increased to 0.27 yuan, a rise of 23.49% year-on-year [1]. - The return on invested capital (ROIC) for the previous year was 7.77%, indicating average capital returns [2]. - The company's historical median ROIC over the past decade was 8.83%, with the lowest recorded ROIC at 1.42% in 2016 [2]. Accounts Receivable and Cash Flow - Accounts receivable reached 195 million yuan, representing 120.26% of the net profit, indicating a significant amount of outstanding payments [1][3]. - The net cash flow from operating activities decreased by 54.07% due to increased cash expenditures for purchasing goods [2]. - The net increase in cash and cash equivalents saw a drastic decline of 143.12%, attributed to higher cash outflows for goods and investments in financial products [2].

Core Viewpoint - Weima Agricultural Machinery (301533) reported disappointing financial results for the first half of 2025, with significant declines in revenue and net profit compared to the previous year [1][6]. Financial Performance - Total revenue for the first half of 2025 was 378 million yuan, a decrease of 13.02% year-on-year [1]. - Net profit attributable to shareholders was 19.14 million yuan, down 48.96% year-on-year [1]. - In Q2 2025, total revenue was 199 million yuan, a decline of 22.68% year-on-year, and net profit was 9.49 million yuan, down 54.72% year-on-year [1]. - The gross profit margin increased to 17.86%, up 5.39% year-on-year, while the net profit margin fell to 5.06%, down 41.32% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 27.76 million yuan, representing 7.34% of revenue, an increase of 140.26% year-on-year [1]. Balance Sheet Highlights - Cash and cash equivalents decreased by 18.92% to 616 million yuan [1]. - Accounts receivable decreased by 3.86% to 170 million yuan [1]. - Interest-bearing liabilities increased significantly by 333.43% to 10.98 million yuan [1]. Cash Flow Analysis - Operating cash flow per share was -0.23 yuan, a decrease of 192.83% year-on-year, indicating a significant drop in cash received from sales [1][5]. - The net cash flow from operating activities decreased due to reduced cash receipts from sales and increased inventory due to overseas operations [5]. Expense Breakdown - Selling expenses increased by 23.3% due to investments in marketing channels and brand development [4]. - Administrative expenses rose by 33.37% as the company invested in talent for its Thailand factory [4]. - Financial expenses increased by 62.63% due to reduced interest income [4]. Investment and R&D - R&D expenses increased by 30.85% as the company continued to invest in research projects [5]. - The company’s return on invested capital (ROIC) was 5.4%, indicating average capital returns, with a historical median ROIC of 20.79% since its listing [5].

Core Insights - The company Dayu Water-saving (300021) reported a total revenue of 1.276 billion yuan for the first half of 2025, representing a year-on-year increase of 4.9%, while the net profit attributable to shareholders decreased by 33.24% to 12.5941 million yuan [1] - The second quarter of 2025 saw a decline in total revenue to 741 million yuan, down 1.71% year-on-year, and a significant drop in net profit attributable to shareholders by 56.75% to 4.3132 million yuan [1] - The company's accounts receivable is notably high, with accounts receivable accounting for 3578.39% of the latest annual net profit [1] Financial Performance - Total revenue for 2024 was 1.216 billion yuan, while for 2025 it increased to 1.276 billion yuan, showing a growth of 4.9% [1] - The net profit attributable to shareholders decreased from 18.8634 million yuan in 2024 to 12.5941 million yuan in 2025, a decline of 33.24% [1] - The gross profit margin improved slightly from 23.08% in 2024 to 23.25% in 2025, while the net profit margin fell from 0.79% to 0.45%, a decrease of 42.73% [1] - Total operating expenses (selling, administrative, and financial expenses) amounted to 253 million yuan, accounting for 19.8% of revenue, down 10.6% year-on-year [1] Cash Flow and Investment - The net cash flow from operating activities saw a drastic decline of 674.16%, attributed to decreased sales collections and increased procurement payments [2] - The net cash flow from investing activities increased by 49.6% due to lower investment expenditures [2] - The net increase in cash and cash equivalents dropped significantly by 535.36% due to increased operating activity expenditures [2] Return on Investment and Business Model - The company's return on invested capital (ROIC) was 4.35% last year, indicating historically weak capital returns, with a median ROIC of 5.79% over the past decade [2] - The net profit margin was reported at 2.5%, suggesting low added value for the company's products or services [2] - The business model relies heavily on research and marketing, necessitating a thorough examination of the underlying drivers of these aspects [2] Debt and Receivables - The company has a high debt ratio, with interest-bearing liabilities accounting for 31.38% of total assets [3] - The accounts receivable to profit ratio is extremely high at 3578.39%, indicating potential liquidity issues [3]

据证券之星公开数据整理，近期登康口腔(001328)发布2025年中报。根据财报显示，登康口腔营收净利 润同比双双增长。截至本报告期末，公司营业总收入8.42亿元，同比上升19.72%，归母净利润8515.53 万元，同比上升17.59%。按单季度数据看，第二季度营业总收入4.11亿元，同比上升20.11%，第二季度 归母净利润4200.27万元，同比上升19.66%。 分析师工具显示：证券研究员普遍预期2025年业绩在2.03亿元，每股收益均值在1.18元。 | 基金筒称 | 基金代码 | 持有股数 | 持仓变动 | 数据来源 | | --- | --- | --- | --- | --- | | 信澳品质回报6个月持有混合 | 012389 | 145.45万股 | 減仓 | 2025基金半年报 | | 博时汇融回报一年持有混合A | 011177 | 92.62万股 | 新进十大 | 2025基金半年报 | | 华宝宝康消费品 | 240001 | 70.00万股 | 咸仓 | 2025基金半年报 | | 申万菱信消费增长混合A | 310388 | 63.26万股 | 新进十大 | 2025基金半年报 ...

据证券之星公开数据整理，近期恒锋工具（300488）发布2025年中报。截至本报告期末，公司营业总收 入3.38亿元，同比上升17.71%，归母净利润7553.94万元，同比上升18.25%。按单季度数据看，第二季 度营业总收入1.89亿元，同比上升16.64%，第二季度归母净利润4724.76万元，同比上升25.17%。本报 告期恒锋工具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174.69%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率44.73%，同比减1.09%，净利率22.37%，同比增 0.46%，销售费用、管理费用、财务费用总计5362.58万元，三费占营收比15.88%，同比减4.65%，每股 净资产9.2元，同比增11.95%，每股经营性现金流0.32元，同比减42.69%，每股收益0.45元，同比增 15.38% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.87亿 | 3.38(Z | 17.71% | | 归母净利润(元) | 6387.94万 | 7553.9 ...

应收款项变动幅度为29.29%,原因:业务扩张导致自然增长，及向信用资质优良的客户适度提升信用额 度。 存货变动幅度为4.87%,原因:避免国际市场政策等可能导致的供应链不稳定，公司主动提高安全库存。 据证券之星公开数据整理，近期爱迪特（301580）发布2025年中报。截至本报告期末，公司营业总收入 4.86亿元，同比上升17.22%，归母净利润9204.32万元，同比上升19.86%。按单季度数据看，第二季度 营业总收入2.8亿元，同比上升16.61%，第二季度归母净利润6077.18万元，同比上升13.61%。本报告期 爱迪特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150.13%。 本次财报公布的各项数据指标表现一般。其中，毛利率51.94%，同比减1.39%，净利率18.57%，同比增 0.23%，销售费用、管理费用、财务费用总计1.26亿元，三费占营收比25.86%，同比增2.58%，每股净资 产19.09元，同比减24.18%，每股经营性现金流0.74元，同比增72.66%，每股收益0.86元，同比减2.27% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | ...