但2025年中期报告，彻底改写了剧本：这家企业上市以来首次出现亏损 ，平均墓穴销售单价同比暴跌 47.5%。（凤凰网财经） 转自：贝壳财经 【#福寿园墓穴平均售价腰斩至6.34万#，#殡葬暴利时代或已落幕#】都说，人生除了"生死"都是小事。 但是，就是这样一门关于"终点站"的生意，也踩了"急刹车"。阳宅售价遇冷，阴宅也不太好卖了。回望 福寿园的黄金时代：不足半平米的墓穴，均价超10万；土地成本仅190元/平方米，毛利率却一度飙升至 80%以上——堪称殡葬业的"印钞机"。 ...

Core Viewpoint - The leading company in the domestic funeral industry, Fushouyuan International Group Co., Ltd., has announced its first profit warning since its listing, projecting a loss of between 235 million to 265 million yuan for the first half of 2025, compared to a net profit of approximately 299 million yuan in the same period last year, marking its first loss since its IPO in 2013 [1][2] Group 1: Financial Performance - Fushouyuan's revenue peaked at 2.628 billion yuan in 2023 but fell by 20.95% to 2.077 billion yuan in 2024, while net profit dropped by 49.04% from 976 million yuan in 2023 to 497 million yuan in 2024, returning to levels seen in 2016 [2][4] - The company's operating cash flow decreased from 1.103 billion yuan in 2023 to 709 million yuan in 2024, indicating a significant decline in cash generation [4] Group 2: Business Segments and Challenges - The main revenue source for Fushouyuan comes from three segments: cemetery services, funeral services, and other services, with cemetery services accounting for 82.3% of total revenue, which decreased by 21% to 1.709 billion yuan in 2024 [4][10] - The company faces challenges such as high goodwill, increased inventory turnover days, and a cautious consumer spending environment influenced by macroeconomic factors [2][5][10] Group 3: Market Trends and Consumer Behavior - The funeral industry is experiencing a shift in consumer behavior, with a growing preference for alternative burial methods and a trend towards "thick nurturing and thin burial," impacting traditional cemetery service sales [7][8] - Despite rising prices in the high-end cemetery market, with average sales prices increasing from 1.025 million yuan in 2018 to approximately 1.212 million yuan in 2024, the company is facing inventory management issues due to prolonged inventory turnover days, which reached a historical high of 694.61 days in 2024 [7][8][10]