Core Viewpoint - The financial report of Sanbian Technology Co., Ltd. for the first half of 2025 shows a decrease in total revenue and net profit compared to the same period in 2024, indicating potential challenges in maintaining growth and profitability [1][4][6]. Financial Statements Assets - Total assets increased from 2,152,617,400.98 yuan at the beginning of the period to 2,332,436,597.98 yuan at the end, reflecting a growth of approximately 8.4% [1][2]. - Current assets rose from 1,759,761,397.15 yuan to 1,958,169,712.48 yuan, an increase of about 11.3% [1][3]. - Inventory significantly increased from 530,208,665.18 yuan to 708,197,568.11 yuan, marking a rise of approximately 33.6% [1][3]. Liabilities - Total liabilities decreased slightly from 1,496,278,514.79 yuan to 1,469,205,246.32 yuan, a decline of about 1.8% [2][4]. - Current liabilities increased from 1,255,405,821.23 yuan to 1,368,933,720.97 yuan, reflecting a growth of approximately 9% [2][3]. Equity - Total equity rose from 656,338,886.19 yuan to 863,231,351.66 yuan, an increase of about 31.5% [2][4]. - The capital reserve increased significantly from 23,770,128.63 yuan to 184,420,296.06 yuan, indicating a substantial growth in equity financing [2][4]. Income Statement - Total operating revenue decreased from 849,653,161.18 yuan in the first half of 2024 to 744,388,059.07 yuan in 2025, a decline of approximately 12.4% [4][5]. - Total operating costs also decreased from 793,529,612.26 yuan to 711,919,197.31 yuan, a reduction of about 10.3% [4][5]. - Net profit for the period was not explicitly stated but indicated a decline compared to the previous year, with basic and diluted earnings per share both at 0.12 yuan, down from 0.2 yuan [5][6]. Cash Flow Statement - Net cash flow from operating activities improved to 1,174,537.32 yuan in 2025 from a negative cash flow of -54,609,445.05 yuan in 2024, indicating a recovery in operational efficiency [6][7]. - Cash and cash equivalents at the end of the period increased to 303,715,538.41 yuan from 73,594,041.98 yuan, reflecting a significant improvement in liquidity [6][7].