Core Points - The company Shenyuan Biological (688098.SH) reported a revenue of 122 million yuan for the first half of 2025, a year-on-year decrease of 3.68% [1] - The net profit attributable to shareholders was -12.87 million yuan, an improvement from -34.51 million yuan in the same period last year [1] - The net profit after deducting non-recurring gains and losses was -16.80 million yuan, compared to -35.44 million yuan in the previous year [1] - The net cash flow from operating activities was -39.39 million yuan, a significant decline from -0.81 million yuan in the same period last year [1] Financial Performance - In 2024, the company achieved a revenue of 303.41 million yuan, a year-on-year growth of 0.64% [1] - The net profit attributable to shareholders for 2024 was -44.74 million yuan, a decline from a profit of 31.52 million yuan in the previous year [1] - The net profit after deducting non-recurring gains and losses for 2024 was -48.38 million yuan, compared to a profit of 25.07 million yuan in the previous year [1] - The net cash flow from operating activities for 2024 was 89.36 million yuan, up from 3.53 million yuan in the previous year [1] IPO Details - Shenyuan Biological was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2019, with an issuance of 50 million shares at a price of 8.80 yuan per share [1] - The total funds raised during the IPO amounted to 440 million yuan, with a net amount of 400.18 million yuan after deducting issuance costs [2] - The actual net fundraising was 49.83 million yuan less than the originally planned amount of 450 million yuan [2] - The issuance costs for the IPO were 37.57 million yuan, including underwriting fees of 25.47 million yuan [2]

Core Viewpoint - The financial performance of Shenyuan Biological in 2024 shows a decline in net profit and a slight increase in revenue, indicating potential challenges ahead for the company. Financial Performance Summary - In 2024, the company achieved operating revenue of 30,341.47 million yuan, a year-on-year increase of 0.64% compared to 30,148.71 million yuan in 2023 [1][2] - The net profit attributable to shareholders was -4,474.01 million yuan, a significant decrease from the previous year's profit of 3,151.87 million yuan, representing a decline of 241.95% [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -4,837.65 million yuan, down from 2,506.98 million yuan in the prior year, marking a decrease of 292.97% [1][2] - The net cash flow from operating activities was 8,936.20 million yuan, a substantial increase from 352.55 million yuan in the previous year, reflecting a growth of 2,434.71% [1][2] Q1 2025 Performance Summary - In the first quarter of 2025, the company reported operating revenue of 7,874.11 million yuan, a year-on-year decrease of 10.58% from 8,805.82 million yuan [3][4] - The net profit attributable to shareholders was -301.99 million yuan, compared to -220.92 million yuan in the same period last year [3][4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -445.01 million yuan, down from -286.93 million yuan in the previous year [3][4] - The net cash flow from operating activities was -2,856.10 million yuan, compared to -2,440.44 million yuan in the same period last year [3][4] Company Background - Shenyuan Biological was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2019, with an initial issuance of 50 million shares at a price of 8.80 yuan per share [4][5] - The highest stock price recorded was 36.88 yuan on the first trading day, but the stock is currently in a state of decline [4]