Core Insights - The company reported a significant increase in both revenue and profit for the first half of 2025, with revenue reaching 5.30 billion yuan, a year-on-year growth of 31.31% [1] - Net profit attributable to shareholders was 491.99 million yuan, reflecting a year-on-year increase of 28.07% [1] - The company’s basic earnings per share (EPS) rose to 0.84 yuan, up 28.64% compared to the previous year [1] Financial Performance - Revenue for the first half of 2025 was 5,296,211,956.92 yuan, compared to 4,033,505,104.33 yuan in the same period last year, marking a 31.31% increase [1] - Net profit attributable to shareholders was 491,998,009.07 yuan, up from 384,150,379.21 yuan, a growth of 28.07% [1] - The net profit after deducting non-recurring gains and losses was 460,623,731.26 yuan, which is a 40.90% increase from 326,915,114.82 yuan [1] - The net cash flow from operating activities was 339,925,774.07 yuan, a significant increase of 75.82% from 193,333,516.76 yuan [1] Profitability Metrics - The gross profit margin for the first half of 2025 was 48.33%, a decrease of 0.38 percentage points year-on-year [2] - The net profit margin was 9.78%, down 0.29 percentage points compared to the same period last year [2] Expense Analysis - Total operating expenses for the first half of 2025 amounted to 1.87 billion yuan, an increase of 403 million yuan from the previous year [2] - The expense ratio was 35.39%, which is a decrease of 1.08 percentage points year-on-year [2] - Sales expenses increased by 18.86%, management expenses rose by 40.95%, R&D expenses grew by 35.79%, and financial expenses surged by 69.73% [2] Leadership and Company Background - The chairman and general manager, Li Jianquan, received a salary of 2.947 million yuan in 2024, a slight decrease from 3.073 million yuan the previous year [4] - The company, established in August 2000 and listed in September 2020, specializes in the research, production, and sales of cotton products [4] - In 2024, the company reported an annual revenue of 8.978 billion yuan, a year-on-year increase of 9.69%, and a net profit of 695 million yuan, up 19.81% [4]