8月28日晚间，中远海特（600428）发布2025年半年报。报告期内，公司实现营业收入107.75亿元，同 比增长44.05%；归母净利润8.25亿元，同比增长13.08%；扣非后归母净利润8.35亿元，同比增长 52.77%。上半年，在国际贸易形势不确定性提升、地缘冲突频发的复杂环境下，公司交出了一份亮眼 的成绩单，展现了公司"穿越行业周期"的硬实力。 年内，公司持续深化"三核三链"战略，通过船队规模跃升、货种结构优化、经营模式迭代与服务能力突 破，进一步巩固全球特种船市场综合竞争优势，使其在波动中实现了业绩的稳健增长。 船队与货种结构双优化 核心运力优势持续巩固 特种船运输市场中，运力规模与货种结构是企业竞争力的核心支撑。2025年上半年，中远海特围绕"做 强主力船队、聚焦战略货种"，实现两者同步升级。 运力规模上，报告期内公司累计接入28艘新运力，新增约148万载重吨。截至6月30日，自有及经营性租 赁船舶共179艘、合计762.53万载重吨，其中自有船103艘318.38万载重吨，经营性租赁船76艘444.15万 载重吨。从细分船型来看，核心船队领先地位进一步夯实。其中，半潜船、多用途重吊船运力稳居 ...

Core Insights - The A-share market is entering a critical period for the disclosure of mid-year reports, with investors focusing on the operating performance of listed companies in the first half of 2025 to identify new investment opportunities [1][2] - As of July 18, 2025, 26 companies have released their performance reports, showing a mixed overall trend with 17 companies reporting year-on-year revenue growth and 14 companies showing an increase in net profit attributable to shareholders [1][4] Company Performance - Suqian Agricultural Development (苏垦农发) reported a revenue of 4.588 billion yuan, a decline of 9.26% year-on-year, and a net profit of 213 million yuan, down 27.72% [2] - Great Wall Motors (长城汽车) achieved a revenue of 92.367 billion yuan, a slight increase of 1.03%, but its net profit fell by 10.21% to 6.337 billion yuan [2] - Sumec Corporation (苏美达) reported a revenue of 55.101 billion yuan, down 1.52%, while its net profit increased by 12.62% to 646 million yuan [3] - Hangzhou Bank (杭州银行) achieved a revenue of 20.093 billion yuan, up 3.89%, and a net profit of 11.662 billion yuan, up 16.67% [3] - Star Power (明星电力) reported a revenue of 1.524 billion yuan, a growth of 13.70%, but its net profit decreased by 13.44% to 73.415 million yuan [3] Notable Performers - China Merchants Energy (中远海特) had the highest revenue growth among the 26 companies, with a revenue of approximately 10.775 billion yuan, up 44.05% year-on-year [4] - Beiding Co., Ltd. (北鼎股份) reported a net profit of 55.828 million yuan, a significant increase of 74.92% [5] - Tian De Yu (天德钰) reported a net profit of 152 million yuan, up 50.89% [6] - Siyuan Electric (思源电气) achieved a net profit of 1.293 billion yuan, an increase of 45.71% [6] - Huazheng Securities (华安证券) reported a net profit of 1.035 billion yuan, up 44.94% [6] Market Outlook - Over 1,500 companies in the A-share market have released performance forecasts for the first half of 2025, with nearly 700 companies expecting positive results [7] - Among these, 239 companies anticipate a doubling of their performance, and 26 companies expect growth exceeding tenfold [7] - Notable companies with exceptional performance expectations include Huayin Power (华银电力), Xian Da Co., Ltd. (先达股份), and Northern Rare Earth (北方稀土), with projected net profit increases of over 20 times [7] Investment Considerations - Investors are advised to consider not only financial metrics such as net profit, gross margin, and operating cash flow but also factors like R&D investment, market share, and industry position when evaluating mid-term performance [8]