据证券之星公开数据整理，近期北方长龙（301357）发布2025年中报。截至本报告期末，公司营业总收 入6497.07万元，同比上升59.62%，归母净利润-109.36万元，同比上升73.64%。按单季度数据看，第二 季度营业总收入4440.17万元，同比上升178.16%，第二季度归母净利润397.68万元，同比上升 151.88%。本报告期北方长龙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 340.71%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率45.83%，同比减9.0%，净利率-1.68%，同比增 83.48%，销售费用、管理费用、财务费用总计1147.09万元，三费占营收比17.66%，同比减28.53%，每 股净资产11.82元，同比减0.69%，每股经营性现金流-0.12元，同比增87.15%，每股收益-0.01元，同比 增75.0% 建议关注公司应收账款状况（年报归母净利润为负） 最近有知名机构关注了公司以下问题： | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 407 ...

Group 1 - The core viewpoint of the news is that Chuan Yi Technology (002866) has reported a year-on-year increase in both revenue and net profit for the first half of 2025, indicating positive financial performance despite a significant drop in quarterly net profit [1] - The total operating revenue for the reporting period reached 1.007 billion yuan, a year-on-year increase of 13.33% [1] - The net profit attributable to the parent company was 42.1557 million yuan, reflecting a year-on-year increase of 28.31% [1] Group 2 - In the second quarter, the operating revenue was 542 million yuan, showing a year-on-year increase of 17.81% [1] - However, the net profit attributable to the parent company in the second quarter was 3.1094 million yuan, which represents a significant year-on-year decline of 83.96% [1] - The gross profit margin was reported at 22.2%, a decrease of 6.61% year-on-year, while the net profit margin increased by 1.24% to 2.07% [1] Group 3 - Total sales, management, and financial expenses amounted to 108 million yuan, accounting for 10.77% of revenue, which is a decrease of 10.66% year-on-year [1] - The earnings per share (EPS) increased by 36.36% to 0.15 yuan, while the operating cash flow per share saw a significant increase of 410.47% to 0.52 yuan [1] - The company’s net asset per share was reported at 7.08 yuan, a decrease of 3.04% year-on-year [1] Group 4 - The historical financial performance indicates that the company had a median Return on Invested Capital (ROIC) of 9.4%, with the worst year being 2024, which recorded a ROIC of -3.35% [2] - The company has experienced one year of loss since its listing, suggesting the need for careful analysis of its financial history [2] - Current cash flow status shows that cash and cash equivalents to current liabilities ratio is at 77.93%, indicating potential liquidity concerns [2]

据证券之星公开数据整理，近期致尚科技（301486）发布2025年中报。截至本报告期末，公司营业总收 入5.16亿元，同比上升17.67%，归母净利润1.82亿元，同比上升353.86%。按单季度数据看，第二季度 营业总收入2.49亿元，同比下降5.4%，第二季度归母净利润1.58亿元，同比上升515.06%。本报告期致 尚科技三费占比上升明显，财务费用、销售费用和管理费用总和占总营收同比增幅达52.52%。 财报体检工具显示： 建议关注公司应收账款状况（应收账款/利润已达482.62%） 本次财报公布的各项数据指标表现一般。其中，毛利率30.09%，同比减11.86%，净利率38.62%，同比 增161.88%，销售费用、管理费用、财务费用总计8981.94万元，三费占营收比17.42%，同比增55.33%， 每股净资产20.35元，同比增5.73%，每股经营性现金流-0.11元，同比减166.88%，每股收益1.43元，同 比增361.29% 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3.93%，资本回报率不强。去年的净利率为11.84%，算上全部成本后， 公司产品或服务的附加值一般 ...

Core Insights - Tongyi Co., Ltd. reported a year-on-year increase in both revenue and net profit for the first half of 2025, with total revenue reaching 1.547 billion yuan, up 13.67%, and net profit attributable to shareholders at 5.625 million yuan, up 12.46% [1] Financial Performance - The second quarter of 2025 saw total revenue of 822 million yuan, reflecting a 2.25% year-on-year increase, while net profit for the same period was 2.3946 million yuan, marking a significant 54.06% increase year-on-year [1] - Gross margin stood at 5.63%, down 4.39% year-on-year, and net margin remained at 0.4%, a decrease of 0.99% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 67.6358 million yuan, accounting for 4.37% of revenue, which is a decrease of 1.1% year-on-year [1] - Earnings per share (EPS) was 0.03 yuan, reflecting a 3.67% increase year-on-year, while operating cash flow per share improved significantly to 0.15 yuan, up 148.85% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents decreased by 30.27% year-on-year to 251 million yuan, while accounts receivable slightly decreased by 1.07% to 523 million yuan [1] - Interest-bearing liabilities decreased by 16.67% year-on-year to 654 million yuan, indicating improved debt management [1] - The company's net asset value per share was 5.29 yuan, down 9.78% year-on-year [1] Business Evaluation - The company's historical return on invested capital (ROIC) has been relatively low, with a median ROIC of 8.2% since its listing, and a particularly poor ROIC of -4.4% in 2024 [3] - The company has experienced two years of losses since its IPO, indicating a fragile business model [3] Cash Flow and Debt Analysis - The cash flow situation is concerning, with cash and cash equivalents to current liabilities ratio at 39.42%, and the average operating cash flow to current liabilities ratio over the past three years at 18.85% [4] - The interest-bearing debt ratio has reached 29.06%, suggesting a need for careful monitoring of the company's debt levels [4]

| 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 19.99 Z | 25.34亿 | 26.74% | | 归母净利润(元) | 7168.55万 | 2.55 Z | 255.25% | | 扣非净利润(元) | 7189.05万 | 1.21亿 | 68.70% | | 货币资金(元) | 26.59亿 | 34.89 Z ﻛ | 31.21% | | 应收账款(元) | 23.28亿 | 19.73亿 | -15.23% | | 有息负债(元) | 66.78亿 | 75.35 Z | 12.84% | | 毛利率 | 14.45% | 13.25% | -8.31% | | 净利率 | 3.24% | 9.74% | 200.52% | | 三费占营收比 | 7.76% | 6.33% | -18.48% | | 每股净资产 (元) | 4.93 | 5.56 | 12.74% | | 每股收益(元) | 0.11 | 0.39 | 254.55% | | 每股经营性现金流(元) | -1.58 | -0 ...

Financial Performance - The company reported a total revenue of 442 million yuan for the first half of 2025, representing a year-on-year increase of 11.92% [1] - The net profit attributable to shareholders reached 209 million yuan, up 48.41% year-on-year [1] - The gross profit margin improved to 65.07%, an increase of 22.65% compared to the previous year [1] - The net profit margin also saw a significant rise to 47.18%, reflecting a year-on-year increase of 32.6% [1] Cash Flow and Investment - The net cash flow from operating activities increased by 105.18%, attributed to an increase in advance sales [2] - The net cash flow from investing activities decreased by 905.64%, due to increased payments for mining and related projects [2] - The net increase in cash and cash equivalents rose by 111.86%, also linked to the increase in advance sales [2] Financial Ratios and Metrics - The company's return on invested capital (ROIC) was reported at 17.77%, indicating strong capital returns [2] - The historical median ROIC since the company's listing is 29.31%, showcasing good investment returns [2] - The total expenses (selling, administrative, and financial) accounted for 7.7% of revenue, down 8.77% year-on-year [1] Shareholder Information - The largest fund holding in the company is Huatai-PB Jinhua Bond A, with 300,000 shares newly entered into the top ten holdings [3] - Other funds have increased their positions, indicating growing interest in the company's stock [3]

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，近期海南机场(600515)发布2025年中报。根据财报显示，海南机场增收不增 利。截至本报告期末，公司营业总收入23.11亿元，同比上升2.66%，归母净利润1.28亿元，同比下降 55.91%。按单季度数据看，第二季度营业总收入12.2亿元，同比上升15.36%，第二季度归母净利润 2724.0万元，同比下降61.52%。 本次财报公布的各项数据指标表现一般。其中，毛利率37.85%，同比减13.32%，净利率6.78%，同比减 52.44%，销售费用、管理费用、财务费用总计6.17亿元，三费占营收比26.71%，同比增5.56%，每股净 资产2.06元，同比增1.19%，每股经营性现金流-0.08元，同比减142.54%，每股收益0.01元，同比减 55.73% 长期应付款变动幅度为598.15%,原因:本期营口空港置业将1年以上的履约保证金从其他应付款重分类 到长期应付款。 交易性金融资产变动幅度为32533.38%,原因:本期新增购买结构性存款2亿元。 应收票据变动幅度为45.1%,原因:用票据结算的应收款项增加。 应收款项融 ...

Core Viewpoint - Zhuhai Guanyu (688772) reported a strong performance in its 2025 mid-year financial results, with significant increases in revenue and net profit, indicating positive growth trends despite rising accounts receivable and some declines in gross margin [1][2]. Financial Performance - Total revenue reached 6.098 billion yuan, a year-on-year increase of 14.03% [1] - Net profit attributable to shareholders was 117 million yuan, up 14.77% year-on-year [1] - In Q2 alone, total revenue was 3.599 billion yuan, reflecting a 28.62% increase year-on-year, while net profit for the quarter was 141 million yuan, a 53.09% increase [1] - Gross margin stood at 23.31%, down 4.42% year-on-year, while net margin improved significantly to 1.12%, up 158.27% [1] - Total operating expenses were 666 million yuan, accounting for 10.92% of revenue, a decrease of 12.6% year-on-year [1] Balance Sheet Highlights - Accounts receivable increased by 32.4% year-on-year, reaching 3.838 billion yuan [1] - Cash and cash equivalents decreased by 52.72% to 1.97 billion yuan [1] - Interest-bearing liabilities rose slightly by 1.01% to 7.044 billion yuan [1] Investment and R&D - The company increased its investment in construction projects by 102.83% due to expanded investment scale [2] - R&D expenses grew by 23.2% as the company focused on maintaining its competitive edge through innovation [3] Market Position and Business Model - The company’s revenue growth was attributed to increased customer share and order volume [2] - The return on invested capital (ROIC) was reported at 3.09%, indicating a need for improved capital efficiency [3] - The company relies heavily on R&D and capital expenditures, necessitating careful monitoring of these investments [3] Fund Holdings - The largest fund holding shares in Zhuhai Guanyu is the Invesco Great Wall Research Select Stock A, with 26.79 million shares [4] - Other funds have also increased their holdings, indicating positive market sentiment towards the company [4]

据证券之星公开数据整理，近期久立特材（002318）发布2025年中报。截至本报告期末，公司营业总收 入61.05亿元，同比上升26.39%，归母净利润8.28亿元，同比上升28.48%。按单季度数据看，第二季度 营业总收入32.23亿元，同比上升31.97%，第二季度归母净利润4.38亿元，同比上升38.74%。本报告期 久立特材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131.95%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率27.2%，同比增9.2%，净利率13.72%，同比减 0.35%，销售费用、管理费用、财务费用总计3.95亿元，三费占营收比6.46%，同比增16.58%，每股净资 产7.93元，同比增7.71%，每股经营性现金流0.25元，同比增7.74%，每股收益0.87元，同比增29.85% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 48.31 乙 | 61.05 Z | 26.39% | | 归母净利润(元) | 6.44Z | 8.28 B | 28.48% | ...

Core Viewpoint - The recent financial report of Kangliyuan (301287) indicates a decline in revenue and net profit, with significant increases in expenses, raising concerns about the company's financial health and operational efficiency [1][2]. Financial Performance - As of the reporting period, the company's total revenue was 252 million yuan, a year-on-year decrease of 18.37%, and the net profit attributable to shareholders was 29.28 million yuan, down 2.63% [1]. - In Q2, total revenue was 113 million yuan, a decline of 21.47%, and net profit was 10.54 million yuan, down 17.09% [1]. - The gross margin was 34.37%, an increase of 6.75% year-on-year, while the net margin was 11.54%, up 17.99% [1]. - Total expenses (selling, administrative, and financial) amounted to 52.32 million yuan, accounting for 20.73% of total revenue, with a year-on-year increase of 30.72% [1]. Cash Flow and Debt - The net cash flow from operating activities increased by 86.31%, attributed to reduced operating expenditures [2]. - The net cash flow from investing activities rose by 96.95%, due to the recovery of financial products [2]. - The net cash flow from financing activities surged by 1072.34%, indicating increased fundraising efforts [2]. - The net increase in cash and cash equivalents was up by 739.39%, also due to increased fundraising [2]. Return on Investment - The company's return on invested capital (ROIC) was 4.24% last year, indicating weak capital returns, with a historical median ROIC of 11.76% since its listing [3]. - The net profit margin last year was 11.83%, suggesting average added value from products or services [3]. Financial Health - The company has a healthy cash asset position, which is crucial for its operational stability [4]. - The average operating cash flow over the past three years is only 18.24% of current liabilities, indicating potential liquidity concerns [5]. - The interest-bearing debt ratio has reached 21.75%, warranting attention to the company's debt management [5].