证券之星注意到，2024年及今年上半年，五洲交通营业成本持续激增，这导致公司利润增长承压。而受 经济下行、路网分流等因素影响，营收占比近七成的收费公路业务业绩疲软，成为业绩增长的主要拖 累。在此背景下，五洲交通拟斥资超200亿元投向运营管理的坛百高速的改扩建工程，以提升项目盈利 能力。然而，截至今年上半年公司货币资金仅3.12亿元，缺口巨大。此外，该项目的业绩前景如何也面 临较大不确定性。 成本激增拉低毛利率，上半年归母净利同比下降10.46% 证券之星刘浩浩 继2024年利润增速放缓后，五洲交通（600368）(600368.SH)交出了一份增收不增利的2025年半年度业 绩报告。今年上半年，公司营收同比增长不足3%，归母净利润则同比下降超10%。 业绩报告显示，五洲交通今年上半年实现营收8.132亿元，同比增长2.98%，上年同期增幅为2.9%。实现 归母净利润3.163亿元，同比下降10.46%，上年同期增幅为2.07%。 分季度来看，一季度公司实现营收4.067亿元，同比增长0.4%，实现归母净利润1.958亿元，同比下降 8.17%。二季度公司实现营收4.065亿元，同比增长5.7%，实现归母净利润 ...

Group 1 - The stock price of Wuzhou Transportation is reported at 4.33 yuan, down 0.06 yuan from the previous trading day, with a decline of 1.37% [1] - The company operates in the railway and highway sector, focusing on toll road operations, commercial logistics, and asset management, and is registered in Guangxi, aligning with the Belt and Road Initiative [1] - For the first half of 2025, Wuzhou Transportation reported total operating revenue of 813 million yuan, an increase of 2.98% year-on-year, while net profit attributable to shareholders decreased by 10.46% to 316 million yuan [1] - The net cash flow from operating activities for the company was 400 million yuan, down 25.73% year-on-year, with basic earnings per share at 0.1965 yuan and a weighted average return on equity of 4.55% [1] Group 2 - On the day of reporting, Wuzhou Transportation experienced a net outflow of main funds amounting to 7.75 million yuan, with a cumulative net outflow of 9.20 million yuan over the past five days [2]