Company Overview - Guangdong Dongfang Zirconium Industry Co., Ltd. is located in Shantou City, Guangdong Province, and was established on November 10, 1995. The company was listed on September 13, 2007. Its main business involves the research, development, production, and sales of zirconium series products [1][2]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 626 million yuan, a year-on-year decrease of 23.07%. However, the net profit attributable to the parent company was 29.08 million yuan, reflecting a significant year-on-year increase of 148.58% [2]. - Since its A-share listing, the company has distributed a total of 30.11 million yuan in dividends, with no dividends paid in the last three years [3]. Stock Performance - As of September 26, the company's stock price was 13.64 yuan per share, with a market capitalization of 10.567 billion yuan. The stock has increased by 85.83% year-to-date, but has seen a decline of 6.58% over the past five trading days [1]. - The company has appeared on the "龙虎榜" (a stock trading list) four times this year, with the most recent appearance on July 21, where it recorded a net purchase of 66.49 million yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 110,600, up by 10.25% from the previous period. The average number of circulating shares per person decreased by 9.34% to 6,849 shares [2][3]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 6.6647 million shares, which is a decrease of 3.0102 million shares compared to the previous period [3]. Business Segments - The company's main business revenue composition includes inorganic non-metallic zircon products (88.92%), inorganic non-metallic materials (6.00%), mineral products (3.18%), by-products (1.66%), and others (0.24%) [1].

Group 1 - The stock price of Dongfang Zirconium has increased by 105.86% year-to-date, with a recent price of 15.11 CNY per share and a market capitalization of 11.705 billion CNY [1] - The company has seen significant trading activity, with a net inflow of 35.1747 million CNY from large orders, while the main funds experienced a net outflow of 1.4119 million CNY [1] - Dongfang Zirconium has appeared on the trading leaderboard four times this year, with the most recent net purchase of 66.4866 million CNY on July 21 [1] Group 2 - Dongfang Zirconium's main business revenue composition includes 88.92% from inorganic non-metal zircon products, 6.00% from inorganic non-metal materials, 3.18% from minerals, and 1.66% from by-products [1] - As of June 30, 2025, the company reported a revenue of 626 million CNY, a year-on-year decrease of 23.07%, while the net profit attributable to shareholders increased by 148.58% to 29.0766 million CNY [2] - The number of shareholders increased by 10.25% to 110,600, with an average of 6,849 circulating shares per person, a decrease of 9.34% [2] Group 3 - Since its A-share listing, Dongfang Zirconium has distributed a total of 30.1102 million CNY in dividends, with no dividends paid in the last three years [3] - As of June 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 6.6647 million shares, a decrease of 3.0102 million shares from the previous period [3]

Company Overview - Dongfang Zirconium (002167) reported a total operating revenue of 626 million yuan for the first half of 2025, a year-on-year decrease of 23.07% [2] - The net profit attributable to shareholders was 29.08 million yuan, an increase of 148.58% year-on-year [2] - The net profit after deducting non-recurring gains and losses was 29.14 million yuan, up 145.46% year-on-year [2] Profitability Analysis - The company's profitability significantly improved, with a gross margin of 15.98%, reflecting a year-on-year increase of 30.43% [3] - The net profit margin was 4.64%, showing a year-on-year increase of 146.67% [3] - Despite a decline in operating revenue, the company achieved substantial net profit growth through cost structure optimization and improved operational efficiency [3] Cost Control - The total of selling, administrative, and financial expenses was 33.42 million yuan, accounting for 5.33% of revenue, a decrease of 53.13% year-on-year [4] - Selling expenses increased by 33.84% mainly due to salary increases [4] - Administrative expenses decreased by 52.95% due to the exclusion of management costs from a previously controlled subsidiary [4] - Financial expenses decreased by 109.44% due to reduced loan scale, high-interest loan replacement, and exchange gains from currency fluctuations [4] Cash Flow and Debt Situation - The company's cash flow situation is noteworthy, with cash and cash equivalents at 360 million yuan, a year-on-year decrease of 17.58% [5] - Operating cash flow per share was 0.23 yuan, down 18.46% year-on-year [5] - Interest-bearing liabilities amounted to 497 million yuan, a decrease of 23.63% year-on-year, with an interest-bearing asset-liability ratio of 20.82% [5] Accounts Receivable - Accounts receivable stood at 206 million yuan, a year-on-year decrease of 26.80% [6] - The ratio of accounts receivable to profit was 116.38%, indicating some pressure on accounts receivable collection [6] Main Business Analysis - Inorganic non-metal zircon products dominated the revenue, generating 557 million yuan, accounting for 88.92% of main revenue, with a gross margin of 14.37% [7] - Revenue from inorganic non-metal materials was 37.61 million yuan, representing 6.00% of main revenue, with a gross margin of 30.56% [7] - Revenue from mineral products was 19.89 million yuan, accounting for 3.18% of main revenue, with a gross margin of 32.99% [7] - By-products and other revenues were 10.37 million yuan and 1.51 million yuan, with gross margins of 10.54% and 58.36% respectively [7] Industry and Market Environment - In the first half of 2025, domestic zircon sand prices showed a "stable then declining" trend, with weak terminal demand and downward pressure from international market prices [8] - The industry is in a cyclical adjustment phase at a low point, with increased pressure on inventory and cash flow [8] - Internationally, the price of imported zircon concentrate has continued to decline slightly, and the domestic zircon market remains sluggish, with sellers increasingly willing to lower prices [8] Summary - Overall, Dongfang Zirconium achieved a significant improvement in profitability in the first half of 2025, primarily due to cost control and enhanced operational efficiency [9] - However, the company needs to pay attention to its cash flow and debt situation to ensure sustainable development [9]