据证券之星公开数据整理，近期上海凯宝（300039）发布2025年中报。根据财报显示，上海凯宝净利润 同比下降14.2%。截至本报告期末，公司营业总收入6.05亿元，同比下降27.08%，归母净利润1.22亿 元，同比下降14.2%。按单季度数据看，第二季度营业总收入2.04亿元，同比下降42.31%，第二季度归 母净利润3766.13万元，同比下降29.84%。 业务评价：公司去年的ROIC为7.97%，资本回报率一般。去年的净利率为25.45%，算上全部成本后， 公司产品或服务的附加值高。从历史年报数据统计来看，公司近10年来中位数ROIC为8.42%，中位投资 回报一般，其中最惨年份2020年的ROIC为2.59%，投资回报一般。公司历史上的财报相对一般。 本次财报公布的各项数据指标表现一般。其中，毛利率81.11%，同比减0.57%，净利率20.13%，同比增 17.6%，销售费用、管理费用、财务费用总计2.93亿元，三费占营收比48.52%，同比减4.58%，每股净资 产4.08元，同比增21.49%，每股经营性现金流0.15元，同比增21.92%，每股收益0.12元，同比减14.2% | 项目 | ...

Financial Performance - The company reported a total revenue of 1.333 billion yuan for the first half of 2025, representing a year-on-year increase of 6.03% [1] - The net profit attributable to shareholders reached 56.558 million yuan, up 6.99% year-on-year [1] - In Q2 2025, total revenue was 686 million yuan, a 4.57% increase compared to the same quarter last year [1] - The net profit for Q2 2025 was 35.349 million yuan, reflecting a 6.73% year-on-year growth [1] Key Financial Ratios - Gross margin stood at 23.63%, down 2.08% year-on-year [1] - Net margin improved to 9.02%, an increase of 1.04% year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 111 million yuan, accounting for 8.37% of revenue, which is a 2.35% increase year-on-year [1] Balance Sheet Highlights - The company’s cash and cash equivalents increased to 1.424 billion yuan, a rise of 9.18% [1] - Accounts receivable reached 571 million yuan, showing a 6.56% increase [1] - Interest-bearing debt rose significantly to 138 million yuan, marking a 46.87% increase [1] Earnings Per Share - Earnings per share (EPS) for the period was 0.53 yuan, up 8.16% year-on-year [1] - The company’s book value per share increased to 16.71 yuan, a 4.78% rise [1] - Operating cash flow per share improved to -0.7 yuan, a significant increase of 43.63% year-on-year [1] Return on Investment - The company's return on invested capital (ROIC) for the previous year was 8.72%, indicating average capital returns [3] - Historical data shows a median ROIC of 11.9% since the company went public, suggesting good investment returns [3] - Analysts expect the company's performance in 2025 to reach 1.31 billion yuan, with an average EPS forecast of 1.22 yuan [3]

Financial Performance - The company reported total revenue of 785 million yuan for the first half of 2025, a decrease of 24.8% year-on-year [1] - The net profit attributable to shareholders was 270 million yuan, down 17.47% compared to the previous year [1] - In Q2 2025, total revenue was 382 million yuan, reflecting a decline of 28.37% year-on-year, while net profit for the quarter was 142 million yuan, down 11.81% [1] - The gross margin increased by 2.9% year-on-year to 43.53%, and the net margin rose by 15.44% to 34.43% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 11.52 million yuan, representing 1.47% of revenue, which is a significant increase of 3803.16% year-on-year [1] - The company’s cash flow from operations per share was -0.48 yuan, an increase of 6.95% year-on-year [1] Asset and Liabilities - Cash and cash equivalents decreased by 34.54% year-on-year to 6.18 billion yuan [1] - Accounts receivable also fell by 26.70% year-on-year to 1.49 billion yuan [1] - Interest-bearing debt decreased by 32.13% year-on-year to 1.18 billion yuan [1] Investment Metrics - The company's return on invested capital (ROIC) was 4.51%, indicating a relatively weak capital return [3] - The historical median ROIC since the company’s listing is 10.08%, with a notable low of 0.67% in 2015 [3] - The net profit margin for the previous year was reported at 23.91%, suggesting high added value in products or services [3] Fund Holdings - The largest fund holding in the company is the Wanjiayi He Flexible Allocation Mixed A fund, which holds 767,200 shares [4] - Several funds have newly entered the top ten shareholders, indicating growing interest in the company [4]

| 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 36.4亿 | 40.01亿 | 9.94% | | 归母净利润(元) | 6907.72万 | 7360.07万 | 6.55% | | 扣非净利润(元) | 5885.91万 | 6785.92万 | 15.29% | | 货币资金(元) | 18.8亿 | 7.39 亿 | -60.69% | | 应收账款(元) | 22.68亿 | 25.76亿 | 13.59% | | 有息负债(元) | 18.75 Z | 9.17 亿 | -51.10% | | 手利率 | 12.84% | 12.64% | -1.52% | | 净利率 | 1.68% | 1.83% | 8.85% | | 三费占营收比 | 7.44% | 6.61% | -11.09% | | 每股净资产 (元) | 1.73 | 1.7 | -1.86% | | 每股收益(元) | 0.02 | 0.02 | 6.57% | | 每股经营性现金流(元) | 0.1 | 0.17 | 66.65 ...

本次财报公布的各项数据指标表现一般。其中，毛利率26.53%，同比减12.65%，净利率1.2%，同比减 44.75%，销售费用、管理费用、财务费用总计5.97亿元，三费占营收比12.73%，同比减15.96%，每股净 资产7.81元，同比增1.74%，每股经营性现金流-0.31元，同比减105.18%，每股收益0.05元，同比减 37.5% 商业模式：公司业绩主要依靠研发及营销驱动。需要仔细研究这类驱动力背后的实际情况。 据证券之星公开数据整理，近期东软集团（600718）发布2025年中报。截至本报告期末，公司营业总收 入46.89亿元，同比上升9.08%，归母净利润5627.04万元，同比下降42.75%。按单季度数据看，第二季 度营业总收入28.4亿元，同比上升15.02%，第二季度归母净利润6836.08万元，同比下降26.52%。本报 告期东软集团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3100.44%。 | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 42.99 Z | 46.89 ...

据证券之星公开数据整理，近期东星医疗（301290）发布2025年中报。截至本报告期末，公司营业总收 入1.83亿元，同比下降14.17%，归母净利润3029.29万元，同比下降36.47%。按单季度数据看，第二季 度营业总收入1.05亿元，同比下降13.66%，第二季度归母净利润1822.89万元，同比下降34.4%。本报告 期东星医疗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85.78%。 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46.77%，同比减2.1%，净利率16.18%， 同比减27.2%，销售费用、管理费用、财务费用总计5463.92万元，三费占营收比29.81%，同比增 16.68%，每股净资产22.14元，同比增0.93%，每股经营性现金流0.21元，同比减69.59%，每股收益0.3 元，同比减37.5% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.14亿 | 1.83亿 | -14.17% | | 归母净利润(元) | 4767.98万 | 3029.2 ...

Core Insights - The company reported a total revenue of 3.225 billion yuan for the first half of 2025, reflecting a year-on-year increase of 0.12% [1] - The net profit attributable to shareholders was 147 million yuan, showing a significant decline of 36.93% compared to the previous year [1] - The second quarter revenue reached 1.603 billion yuan, up 3.76% year-on-year, while the net profit for the same period was 54.43 million yuan, down 51.37% [1] Financial Performance - The gross profit margin was 10.34%, a decrease of 29.27% year-on-year, and the net profit margin was 4.6%, down 38.07% [1] - Total selling, administrative, and financial expenses amounted to 154 million yuan, accounting for 4.78% of revenue, which is a slight decrease of 0.1% year-on-year [1] - Earnings per share were 0.15 yuan, reflecting a decline of 36.93% year-on-year, while the net asset value per share increased by 7.25% to 3.54 yuan [1] Cash Flow and Receivables - The operating cash flow per share was 0.43 yuan, showing a significant increase of 90.47% year-on-year [1] - The company's accounts receivable were notably high, with accounts receivable to net profit ratio reaching 389.04% [1][2] - The cash flow situation is concerning, with cash and cash equivalents to current liabilities ratio at 33.31% [2] Return on Investment - The company's return on invested capital (ROIC) for the previous year was 8.41%, indicating average capital returns [2] - The historical median ROIC since the company went public is 7.78%, with the worst year being 2020, where ROIC was only 1.8% [2] - Analysts project the company's performance for 2025 to be around 398 million yuan, with an average earnings per share estimate of 0.41 yuan [2]

据证券之星公开数据整理，近期通达电气(603390)发布2025年中报。截至本报告期末，公司营业总收入 4.21亿元，同比上升68.73%，归母净利润3173.31万元，同比上升122.8%。按单季度数据看，第二季度 营业总收入2.36亿元，同比上升85.97%，第二季度归母净利润1299.56万元，同比上升425.41%。本报告 期通达电气应收账款上升，应收账款同比增幅达38.36%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率27.34%，同比增2.52%，净利率7.44%，同比增 37.22%，销售费用、管理费用、财务费用总计5348.36万元，三费占营收比12.69%，同比减23.87%，每 股净资产4.57元，同比增1.31%，每股经营性现金流-0.01元，同比减115.85%，每股收益0.09元，同比增 125.0% 证券之星价投圈财报分析工具显示：业务评价：公司去年的ROIC为1.24%，近年资本回报率不强。公司 业绩具有周期性。去年的净利率为3.65%，算上全部成本后，公司产品或服务的附加值不高。从历史年 报数据统计来看，公司上市以来中位数ROIC为10.48%，投资回报也较好，其中最惨 ...

Core Viewpoint - The recent financial report of Quan Chai Power (全柴动力) indicates a positive growth in revenue and net profit for the first half of 2025, although there are concerns regarding accounts receivable and overall return on investment [1][2]. Financial Performance - Total revenue for the first half of 2025 reached 2.391 billion yuan, a year-on-year increase of 9.22% compared to 2.189 billion yuan in 2024 [1]. - Net profit attributable to shareholders was 53.27 million yuan, up 8.55% from 49.07 million yuan in the previous year [1]. - In Q2 2025, total revenue was 1.098 billion yuan, reflecting a 13.57% increase year-on-year [1]. - Q2 net profit attributable to shareholders was 23.43 million yuan, showing a slight decline of 1.18% [1]. - The gross margin improved to 9.34%, an increase of 0.21% year-on-year, while the net margin rose to 2.19%, up 1.14% [1]. - Total expenses (selling, administrative, and financial) amounted to 84.49 million yuan, accounting for 3.53% of revenue, a decrease of 1.13% [1]. Cash Flow and Receivables - The company reported a significant accounts receivable figure, with accounts receivable amounting to 1.205 billion yuan, which is 1445.82% of the net profit [1][3]. - Operating cash flow per share was 0.18 yuan, a substantial increase of 221.39% year-on-year [1]. Business Model and Debt - The company's business performance is primarily driven by research and marketing efforts, necessitating a deeper analysis of these underlying drivers [2]. - The company maintains a healthy cash asset position, indicating good debt repayment capability [2].

Core Viewpoint - The recent financial report of Kuaiji Elevator (002774) indicates a significant decline in both revenue and net profit for the first half of 2025 compared to the previous year, raising concerns about the company's financial health and operational efficiency [1][3]. Financial Performance - Total revenue for the first half of 2025 was 625 million yuan, a decrease of 10.83% year-on-year [1]. - The net profit attributable to shareholders was 34.06 million yuan, down 43.04% from the previous year [1]. - In Q2 2025, total revenue was 357 million yuan, showing a slight increase of 1.94% year-on-year, while net profit for the quarter was 22.83 million yuan, a decline of 25.49% [1]. Profitability Metrics - Gross margin was 22.84%, down 13.29% year-on-year [1]. - Net margin decreased to 5.47%, a drop of 35.87% compared to the previous year [1]. - The total of selling, administrative, and financial expenses reached 87.80 million yuan, accounting for 14.06% of revenue, which is an increase of 1.94% year-on-year [1]. Cash Flow and Assets - The company reported a significant decline in operating cash flow per share, which was 0.0 yuan, down 91.48% year-on-year [1]. - Cash and cash equivalents decreased to 244 million yuan, a decline of 10.80% from the previous year [1]. - Accounts receivable increased to 233 million yuan, up 13.45% year-on-year, with accounts receivable to net profit ratio reaching 175.65% [1][3]. Return on Investment - The company's return on invested capital (ROIC) for the previous year was 10.31%, indicating average capital returns [3]. - Historical data shows a median ROIC of 11.63% since the company went public, with the lowest recorded ROIC at 1.54% in 2019 [3]. Business Model and Debt Servicing - The company's performance is primarily driven by marketing efforts, necessitating a deeper analysis of the underlying factors [3]. - The company maintains a healthy cash asset position, which is crucial for its debt servicing capabilities [3].