据证券之星公开数据整理，近期华宏科技（002645）发布2025年中报。截至本报告期末，公司营业总收 入31.59亿元，同比上升17.17%，归母净利润7963.28万元，同比上升3480.57%。按单季度数据看，第二 季度营业总收入17.23亿元，同比上升15.89%，第二季度归母净利润4849.93万元，同比上升61.93%。本 报告期华宏科技盈利能力上升，毛利率同比增幅92.79%，净利率同比增幅473.1%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率9.56%，同比增95.97%，净利率2.55%，同比增 473.1%，销售费用、管理费用、财务费用总计1.54亿元，三费占营收比4.87%，同比减6.24%，每股净资 产5.68元，同比减7.72%，每股经营性现金流-0.54元，同比减285.14%，每股收益0.14元，同比增 3544.74% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 26.96 Z | 31.59亿 | 17.17% | | 归母浄利润（元） | 222.4万 | 7963 ...

Group 1: Company Overview and Strategy - Huahong Technology has transformed from a manufacturer of recycling equipment to a resource operator in the circular economy sector, focusing on the dismantling of scrapped vehicles and recycling of various materials [2][3] - The company has established a circular economy industrial chain, with a significant focus on the recycling of waste steel, old magnetic materials, and rare earth recovery [2][3] Group 2: Financial Performance and Challenges - In 2024, the company reported a net profit loss of 356 million yuan, primarily due to a goodwill impairment provision of 334 million yuan related to the acquisition of Jiangsu Weierman [3][4] - Excluding the impact of the goodwill impairment, the company's operating performance showed a significant reduction in losses compared to 2023 [3][4] Group 3: Production Capacity and Market Position - The current production capacity for rare earth magnetic materials is 15,000 tons per year, with a rare earth oxide production capacity of 12,000 tons per year, positioning the company as a leader in the industry [3][4] - Sales from the rare earth resource utilization and magnetic materials segments account for over 60% of the company's total sales, indicating their critical role in revenue generation [3][4] Group 4: Future Outlook and Industry Trends - The company plans to enhance its gross margin through technological innovation, cost reduction, and production efficiency improvements [3][4] - The demand for rare earth products is expected to grow due to the rapid development of industries such as electric vehicles, industrial automation, and energy-efficient appliances [3][4] Group 5: Regulatory Environment and Compliance - The company does not engage in the export of rare earth technology, which is subject to strict regulations, and primarily sells its rare earth oxide products domestically [4] - The impact of China's export controls on rare earths is minimal for the company, as its export sales ratio is relatively low [4]