（文章来源：第一财经） 科森科技公告，2025年上半年公司营业收入为15.82亿元，同比下降9.13%；归属于上市公司股东的净亏 损1.05亿元。 ...

公告称，预期亏损增加乃主要由于集团向Templewater Bravo Holdings Limited及Ascendal Bravo Limited 收购汇达交通控股有限公司已发行股份总数的54.44%的相应的财务影响。上述财务影响为折旧及摊销 费用较2024年同期取得的有关费用增加约8900万港元，原因是紧随收购事项完成后对汇达集团的物业、 厂房及设备以及无形资产作出公允值调整；及财务成本较2024年同期取得的财务成本增加约5000万港 元，此乃由于集团就收购事项应付的递延付款及集团就认沽期权股份应付的未偿还代价所产生的负债所 致。 消息面上，近日，汉思集团控股发盈警，预期2025年上半年该集团将取得不多于1.2亿港元的公司权益 股东应占亏损，而2024年上半年则取得约2134.7万港元的公司权益股东应占亏损。 汉思集团控股(00554)午前跌超5%，截至发稿，跌5.36%，报0.164港元，成交额457.76万港元。 ...

#云南城投管理层大换血#【#云南城投持续亏损# 管理层"大换血"】业绩预亏近一个月内，云南城投 （600239.SH）管理层"大换血"。近日，云南城投公告因工作调整，崔铠申请辞去公司总经理职务，李 扬申请辞去公司副总经理职务。调整过后，崔铠继续担任公司董事长、董事及董事会下设专门委员会委 员职务，李扬上任公司总经理。 事实上，作为云南省首家上市房企，云南城投自2019年以来持续亏损，其近年来通过资产处置、存货去 化等措施试图缓解资金压力，但效果有限。与此同时，公司负债承压。截至2025年一季度末，云南城投 资产负债率高达80.93%。（中国经营报，嘉玛） 公告显示，公司预计2025年上半年净利润为-3000万元到-4000万元，与去年同期相比，将出现亏损；扣 非净利润为-2900万元到-3900万元，对比去年同期亏损有所减少。 ...

Core Viewpoint - King Tai Fung International Holdings (09689) expects to incur a loss attributable to shareholders of approximately RMB 5.5 million for the six months ending June 30, 2025, compared to a loss of approximately RMB 747,000 for the same period in 2024 [1] Group 1 - The anticipated increase in loss is primarily due to the suspension of the project to enhance the berthing capacity of the Zengcheng oil depot and the termination of the contract with the project's main contractor [1] - The company will write off prepayments made to the main contractor and construction assets, amounting to approximately RMB 4.194 million and RMB 1.75 million, respectively [1]

Core Viewpoint - The company reported a significant financial loss for the fiscal year ending March 31, 2025, with a pre-tax loss of 611.3 thousand HKD, indicating challenges in its operational performance [1] Financial Performance - Net investment income amounted to 63 thousand HKD, while other income was 5 thousand HKD, leading to total revenues of 68 thousand HKD [1] - General and administrative expenses were reported at 6.17 million HKD, contributing to an operating loss of 610.2 thousand HKD [1] - Financial costs totaled 11 thousand HKD, further exacerbating the overall loss [1] - The total loss and comprehensive expenses for the year reached 611.3 thousand HKD, resulting in a basic loss per share of 0.03 HKD [1] Financial Position - The balance sheet indicates total current assets of 12.537 million HKD and total current liabilities of 5.752 million HKD, leading to a net current asset value of 6.785 million HKD [1] - The company has decided not to recommend any dividend payments for the year [1]

Core Viewpoint - The article discusses the financial struggles of Huayi Brothers and its founders, Wang Zhongjun and Wang Zhonglei, highlighting their attempts to sell assets and the company's significant losses over the years [5][12][22]. Group 1: Financial Performance - Huayi Brothers has reported a total loss exceeding 8.2 billion yuan over the past seven years, with continuous annual losses [5][12]. - In 2024, the company achieved a revenue of 465 million yuan, a year-on-year decline of 30.18%, marking a return to pre-IPO revenue levels [11]. - The net loss attributable to shareholders for 2024 was approximately 285 million yuan [11]. Group 2: Asset Sales and Financial Maneuvering - Wang Zhongjun has sold various high-value assets, including a luxury apartment in Hong Kong for 220 million HKD, to stabilize the company's finances [14][20]. - The company has also sold art pieces, with Wang Zhongjun stating he would sell anything for the company's safety [18][20]. - Huayi Brothers has faced significant debt pressures, with a debt-to-asset ratio of 86.01% and current liabilities of 2.253 billion yuan against current assets of only 1.265 billion yuan [22]. Group 3: Shareholding and Control Issues - Wang Zhongjun's shares are under judicial auction, which could reduce his and his brother's combined shareholding from 13.9% to 8.35%, risking control of the company [29][30]. - The proportion of pledged shares for both Wang brothers is as high as 99.37%, indicating severe financial distress [31]. Group 4: Family Dynamics and Future Prospects - The next generation of the Wang family, including Wang Zhongjun's sons, is navigating the family's legacy amid the company's decline [33][38]. - Despite the family's financial challenges, the younger generation appears to be maintaining a relatively stable lifestyle [41].

Core Viewpoint - The termination of three fundraising projects by Zhihua Technology raises questions about the company's operational decisions and financial management, especially given the significant losses reported in recent years [2][4][8]. Group 1: Fundraising and Project Termination - On May 12, Zhihua Technology announced the termination of three fundraising projects, reallocating the remaining 329 million yuan to supplement working capital permanently [2][4]. - The three projects were part of a 1.079 billion yuan fundraising effort initiated in late 2020, with approximately 174 million yuan already invested over four years [2][4][5]. - The terminated projects include the construction of production bases in Vietnam for electronic components and heat dissipation components, with investment progress at 46.78%, 25.26%, and 30.12% respectively [5][6]. Group 2: Financial Performance - Zhihua Technology has faced operational challenges, reporting a cumulative net loss of 628 million yuan from 2022 to 2024, with continued losses in the first quarter of this year [2][9]. - The company has not distributed cash dividends to shareholders since 2022, reflecting its ongoing financial difficulties [3][10]. - Despite a slight revenue increase in the first quarter of this year, the company continues to struggle with low gross margins and high operational costs, leading to persistent losses [9][10]. Group 3: Market Context - The consumer electronics industry has experienced cyclical fluctuations, impacting Zhihua Technology's performance and leading to a weaker-than-expected recovery in demand [2][9]. - The company’s revenue has shown volatility, with a decline in both revenue and net profit since its IPO in 2017, highlighting ongoing challenges in achieving stable growth [8][9].

Core Viewpoint - Zhongtai Automobile (000980) reported a significant decline in revenue and an increase in net loss for 2024, indicating ongoing financial challenges for the company [1] Financial Performance - The company's operating revenue for 2024 was 558 million yuan, representing a year-on-year decrease of 23.96% [1] - The net loss attributable to shareholders of the listed company was 1 billion yuan, compared to a net loss of 937 million yuan in the same period last year [1] Dividend Policy - The company announced plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]