Core Viewpoint - Yongjin Co., Ltd. reported a slight decline in revenue and net profit for the first half of 2025, but showed significant improvement in the second quarter, alongside a cash dividend proposal to enhance shareholder returns [1][2]. Financial Performance - In the first half of 2025, Yongjin Co., Ltd. achieved revenue of 20.125 billion yuan, a year-on-year decrease of 0.85% - The company's net profit attributable to shareholders was 294 million yuan, down 4.67% year-on-year - In Q2 2025, the net profit attributable to shareholders reached 200 million yuan, a quarter-on-quarter increase of 92.63% - The non-recurring net profit for Q2 was 196 million yuan, reflecting a quarter-on-quarter growth of 100.11% [1]. Dividend Distribution - Yongjin Co., Ltd. proposed a cash dividend of 3 yuan per 10 shares (tax included), totaling 109 million yuan, which represents 35.98% of the net profit - This marks the seventh cash distribution since the company went public and aligns with regulatory encouragement for increased cash dividends [1]. Business Development - The company's main projects are ramping up production capacity, including the Jiangsu Yongjin project with an annual capacity of 1.2 million tons of high-quality wide stainless steel strips - The New Yue Technology project, with an annual capacity of 260,000 tons of precision stainless steel strips, has shown significant improvement in capacity utilization [2]. New Material Initiatives - Yongjin Co., Ltd. is expanding into new materials, including battery-specific nickel-plated steel strip materials and titanium alloy fields - The company has several projects underway, including a 225,000-ton battery shell material project expected to start trial production by the end of the year and a 20,000-ton titanium alloy project also set to begin trial production by year-end [2]. Industry Outlook - Dongfeng Securities highlights that the steel industry is expected to benefit from measures to reduce production, which may stabilize steel prices and enhance profitability - Guosheng Securities notes that Yongjin Co., Ltd. holds a competitive advantage in the stainless steel cold-rolling sector and has shown improved profitability in Q2, maintaining a long-term growth outlook due to its cost advantages in metal material processing [3].