Financial Performance - Company reported a total revenue of 474 million yuan for the first half of 2025, an increase of 18.47% year-on-year [1] - Net profit attributable to shareholders reached 11.31 million yuan, up 163.01% compared to the previous year [1] - Gross profit margin decreased to 15.01%, down 9.59% year-on-year, while net profit margin improved to 1.63%, an increase of 117.79% [1] - Total operating expenses (selling, administrative, and financial expenses) amounted to 69.12 million yuan, accounting for 14.57% of revenue, a decrease of 23.81% year-on-year [1] Cash Flow and Debt Management - Operating cash flow per share increased to 0.19 yuan, a significant rise of 179.86% year-on-year [1] - The company’s cash and cash equivalents decreased by 34.79% to 102 million yuan due to repayment of financing loans [1] - Interest-bearing liabilities decreased by 20.22% to 768 million yuan [1] Accounts Receivable and Financial Health - Accounts receivable accounted for 40.23% of total revenue, indicating a significant amount of outstanding payments [1] - The company’s net asset value per share fell to 1.27 yuan, down 40% year-on-year [1] - The company has faced challenges with a historical average return on invested capital (ROIC) of 4.72%, with the worst year being 2024 at -20.38% [11] Business Operations and Future Outlook - The company focuses on two core business areas: lithium-ion battery materials and electronic product cooling solutions [14] - Plans to optimize production processes in the lithium-ion battery materials sector and enhance competitiveness in the cooling products market [14] - The company aims to expand its overseas market presence, particularly in the cooling products segment, to increase market share and brand competitiveness [17]