Core Viewpoint - The company Huakang Clean (301235) is facing a significant event with its chairman being investigated, but the management assures that operations remain stable and the company has shown a turnaround in financial performance this year [1][4]. Financial Performance - In the first half of the year, Huakang Clean achieved a revenue of 835 million yuan, representing a year-on-year increase of 50.73% [4]. - The net profit for the same period was 18.68 million yuan, marking a turnaround from previous losses [4]. - However, the net cash flow from operating activities was -294 million yuan, a decline of 74.03% year-on-year [4]. Business Operations - The company’s main business includes the research, design, implementation, and operation of purification systems, as well as the sale of medical equipment and consumables [4]. - As of June 30, the total order backlog was 3.827 billion yuan, primarily from purification integration projects [4]. Cash Flow Challenges - Huakang Clean faces cash flow pressure due to the capital-intensive nature of its purification system integration business, which requires significant upfront investment [5]. - The company is implementing measures to improve cash flow management, including stricter project initiation standards and monitoring of cash flow forecasts [5]. Market Position - As of August 13, Huakang Clean's stock price was 32.27 yuan per share, with a total market capitalization of 3.48 billion yuan [6].

发布时间：2025-05-27 股票投资评级 证券研究报告：医药生物 | 公司深度报告 公司基本情况 | 最新收盘价（元） | 23.83 | | --- | --- | | 总股本/流通股本（亿股）1.06 | / 0.51 | | 总市值/流通市值（亿元）25 | / 12 | | 52 周内最高/最低价 | 24.54 / 15.69 | | 资产负债率(%) | 57.3% | | 市盈率 | 37.83 | | 第一大股东 | 谭平涛 | 研究所 分析师:蔡明子 SAC 登记编号:S1340523110001 Email:caimingzi@cnpsec.com 华康洁净(301235) 公司是一家专业的洁净室系统集成化解决方案服务商，坚持以洁 净技术为核心，将公司业务领域由公立医院的医疗专项洁净扩展至高 等院校的科学实验室洁净、工业电子企业的电子洁净等，以全过程专 业技术服务为宗旨，为公立医院、高等院校、工业电子企业等单位、 机构提供洁净室建设全周期服务。考虑到公司在洁净室领域技术积累 及较强的获客能力，立足华中地区丰富的半导体产业资源，未来数年 有望在电子洁净领域实现高速增长。预测2025-20 ...