据证券之星公开数据整理，近期仙鹤股份(603733)发布2025年中报。截至本报告期末，公司营业总收入 59.91亿元，同比上升30.14%，归母净利润4.74亿元，同比下降13.8%。按单季度数据看，第二季度营业 总收入30.0亿元，同比上升25.27%，第二季度归母净利润2.38亿元，同比下降15.39%。本报告期仙鹤股 份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181.16%。 本次财报公布的各项数据指标表现一般。其中，毛利率13.71%，同比减22.51%，净利率7.97%，同比减 33.82%，销售费用、管理费用、财务费用总计2.99亿元，三费占营收比4.99%，同比增9.82%，每股净资 产11.25元，同比增8.01%，每股经营性现金流0.47元，同比增326.24%，每股收益0.67元，同比减14.1% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 46.04亿 | 59.91 亿 | 30.14% | | 归母净利润(元) | 5.5亿 | 4.74亿 | -13.80% | ...

据证券之星公开数据整理，近期航天发展(000547)发布2025年中报。截至本报告期末，公司营业总收入 6.89亿元，同比下降20.25%，归母净利润-3.78亿元，同比下降4.05%。按单季度数据看，第二季度营业 总收入3.99亿元，同比下降7.36%，第二季度归母净利润-1.97亿元，同比下降4.72%。本报告期航天发展 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101.64%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率4.54%，同比减65.64%，净利率-61.8%， 同比减34.18%，销售费用、管理费用、财务费用总计2.04亿元，三费占营收比29.66%，同比减7.44%， 每股净资产3.01元，同比减25.95%，每股经营性现金流-0.14元，同比增24.87%，每股收益-0.24元，同 比减4.35% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 8.64Z | 6.89亿 | -20.25% | | 归母净利润(元) | -3.64亿 | -3.78 Z- | - ...

据证券之星公开数据整理，近期润丰股份（301035）发布2025年中报。截至本报告期末，公司营业总收 入65.31亿元，同比上升14.94%，归母净利润5.56亿元，同比上升205.62%。按单季度数据看，第二季度 营业总收入38.44亿元，同比上升28.64%，第二季度归母净利润2.99亿元，同比上升932.3%。本报告期 润丰股份盈利能力上升，毛利率同比增幅5.89%，净利率同比增幅151%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率21.42%，同比增5.89%，净利率9.56%，同比增 151.0%，销售费用、管理费用、财务费用总计3.26亿元，三费占营收比4.99%，同比减64.14%，每股净 资产25.22元，同比增9.05%，每股经营性现金流3.18元，同比增738.89%，每股收益2.0元，同比增 207.69% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 56.82亿 | 65.31亿 | 14.94% | | 归母净利润（元） | 1.82亿 | 5.56 Z | 205.62% ...

Core Viewpoint - The recent financial report of Kaipuyun (688228) shows a modest increase in revenue and a significant improvement in net profit, indicating a positive trend in the company's financial health despite challenges in gross margin and cash flow [1][2]. Financial Performance - Total revenue for the first half of 2025 reached 160 million yuan, a year-on-year increase of 2.99% [1] - Net profit attributable to shareholders was 3.78 million yuan, up 123.05% year-on-year [1] - In Q2 2025, total revenue was 99.48 million yuan, reflecting a 47.72% increase year-on-year [1] - Q2 net profit attributable to shareholders was 3.05 million yuan, an increase of 118.27% year-on-year [1] - Gross margin stood at 40.95%, down 9.59% year-on-year [1] - Net margin improved to -0.34%, a 98.2% increase year-on-year [1] - Total operating expenses were 54.66 million yuan, accounting for 34.21% of revenue, down 29.47% year-on-year [1] Cash Flow and Debt - The company reported a significant increase in accounts receivable, with the ratio of accounts receivable to net profit reaching 1734.03% [1][3] - Cash flow from operations per share was -0.95 yuan, an improvement of 55.69% year-on-year [1] - The company has a healthy cash asset position, but the average operating cash flow over the past three years has been negative [2][3] Investment Metrics - The return on invested capital (ROIC) for the previous year was 1.11%, indicating weak capital returns [1] - The historical median ROIC since the company's listing is 9.28%, suggesting better investment returns in the past [1] - The company’s earnings per share for the first half of 2025 was 0.06 yuan, a 124% increase year-on-year [1] Market Position - The largest fund holding Kaipuyun shares is Guoxin Guozheng New Profit Mixed A, which has recently increased its position [4] - The fund's current scale is 19 million yuan, with a recent net value increase of 0.24% [4]

Core Insights - Nanjing Julong (300644) reported a total revenue of 595 million yuan for Q1 2025, representing a year-on-year increase of 32.48% [1] - The net profit attributable to shareholders reached 30.53 million yuan, up 33.56% year-on-year [1] Financial Performance - Total revenue for Q1 2025 was 595 million yuan, compared to 449 million yuan in Q1 2024, marking a 32.48% increase [1] - Net profit attributable to shareholders was 30.53 million yuan, up from 22.86 million yuan in the same quarter last year, reflecting a 33.56% growth [1] - Gross margin improved to 16.09%, an increase of 13.03% year-on-year, while net margin slightly increased to 5.18% [1] - Total expenses (selling, administrative, and financial) amounted to 44.11 million yuan, accounting for 7.42% of revenue, down 3.87% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents rose to 136 million yuan, a 48.46% increase from 91.48 million yuan [1] - Accounts receivable increased to 711 million yuan, with a year-on-year growth of 31.71% [1] - Interest-bearing liabilities were reported at 554 million yuan, a 6.64% increase from the previous year [1] Earnings Metrics - Earnings per share (EPS) increased to 0.30 yuan, up 40.73% from 0.21 yuan [1] - Operating cash flow per share was reported at -0.58 yuan, a significant decrease of 281.42% year-on-year [1] - Book value per share rose to 8.46 yuan, reflecting a 2.96% increase [1] Business Evaluation - The company's return on invested capital (ROIC) was 8.05%, indicating average capital returns [4] - The net profit margin for the previous year was 3.65%, suggesting low added value for products or services [4] - The company has raised a total of 288 million yuan since its IPO, with cumulative dividends amounting to 126 million yuan, resulting in a dividend-to-financing ratio of 0.44 [4] Cash Flow and Debt Analysis - Cash flow metrics indicate that cash and cash equivalents represent only 7.61% of total assets and 21.52% of current liabilities [4] - The interest-bearing debt ratio stands at 23.29%, with interest-bearing liabilities amounting to 11.26 times the average operating cash flow over the past three years [4] - Financial expenses accounted for 60.74% of the average operating cash flow over the past three years [4] - Accounts receivable represent 843.58% of profit, indicating potential liquidity concerns [4]