Core Viewpoint - Hangzhou Turbine Power Group Co., Ltd. reported its semi-annual financial results for 2025, showing a decline in key business income and net profit compared to the same period in 2024, indicating potential challenges in operational performance [1][5]. Financial Performance - Total assets increased to RMB 17,545.42 million as of June 30, 2025, compared to RMB 17,252.08 million at the beginning of the year, reflecting a growth of approximately 1.7% [1][3]. - Current assets totaled RMB 9,598.23 million, down from RMB 9,961.85 million at the start of the year, a decrease of about 3.6% [1][3]. - Net profit for the first half of 2025 was RMB 152.67 million, a decrease from RMB 180.94 million in the same period of 2024, representing a decline of approximately 15.6% [5][6]. Income and Costs - Key business income for the first half of 2025 was RMB 2,447.20 million, down from RMB 2,611.66 million in the first half of 2024, indicating a decrease of about 6.3% [4][5]. - Total business costs were RMB 2,342.93 million, compared to RMB 2,548.69 million in the previous year, showing a reduction of approximately 8.1% [4][5]. Cash Flow - Net cash generated from operating activities was negative at RMB -167.56 million for the first half of 2025, an improvement from RMB -333.59 million in the same period of 2024 [6][8]. - Cash flow from investing activities showed a net outflow of RMB -29.39 million, contrasting with a net inflow of RMB 143.40 million in the previous year [6][8]. Equity and Liabilities - Total liabilities decreased to RMB 7,616.18 million from RMB 7,735.09 million at the beginning of the year, a reduction of about 1.5% [3][4]. - Total owners' equity increased to RMB 9,929.24 million from RMB 9,516.99 million, reflecting a growth of approximately 4.3% [3][4].