利润方面，公司出现亏损，利润总额为-952.40万元，归母净利润为-764.34万元。基本每股收益 为-0.0199元，加权平均净资产收益率为-0.92%。 尽管利润承压，部分关键财务指标已释放积极信号。值得关注的是，公司经营活动产生的现金流量净额 较上年同期有所改善，主要原因是收到的税费返还增加。截至报告期末，公司经营活动产生的现金流量 净额为-2762.23万元，虽仍为负值，但较上年同期的-5204.13万元已有明显改善。 半年报对此给出的解读为，哈空调上半年的业绩变动主要受产品销售收入减少、其他收益减少以及期间 费用增加等因素影响。其中财务费用增长17.65%，主要是保函开立手续费及贴现手续费增加所致。 作为国内空冷器行业老牌国企，哈尔滨空调股份有限公司（600202.SH，简称"哈空调"）正在经历业 绩"换挡期"。尽管上半年营收与利润下滑，但一份创纪录的订单成绩单，预示着复苏动能正在积聚。 哈空调2025年半年报显示，公司上半年实现营业收入5.49亿元，同比下降22.53%。在此背景下，新签订 单金额大幅增长，尤其是境外市场拓展取得显著进展。 这份成绩单的背后，是公司主营的空冷器产品市场需求变化与自身 ...

Group 1 - The stock price of Harbin Air Conditioning (哈空调) increased by 2.29% on August 26, reaching 6.26 CNY per share, with a total market capitalization of 2.4 billion CNY [1] - Year-to-date, the stock price has risen by 40.99%, with a 5-day increase of 5.21%, a 20-day increase of 10.02%, and a 60-day increase of 11.99% [1] - The company has appeared on the trading leaderboard six times this year, with the most recent occurrence on April 1, where it recorded a net purchase of 45.05 million CNY [1] Group 2 - Harbin Air Conditioning operates in the mechanical equipment sector, specifically in general equipment and refrigeration and air conditioning equipment [2] - As of June 30, the number of shareholders decreased by 32.51% to 28,300, while the average circulating shares per person increased by 48.17% to 13,526 shares [2] - For the first half of 2025, the company reported a revenue of 549 million CNY, a year-on-year decrease of 22.53%, and a net profit attributable to shareholders of -7.64 million CNY, a decline of 185.86% [2] Group 3 - Since its A-share listing, Harbin Air Conditioning has distributed a total of 358 million CNY in dividends, with 7.67 million CNY distributed over the past three years [3]

Core Insights - Harbin Air Conditioning Co., Ltd. reported a significant decline in revenue and a net loss for the first half of 2025, with revenue at 549 million yuan, down 22.53% year-on-year, and a net loss of 7.64 million yuan compared to a profit of 8.90 million yuan in the same period last year [1] Company Performance - The company's main products include petrochemical air coolers, power plant air coolers, and air treatment units for nuclear power plants, which are widely used in the petrochemical, power, and metallurgy industries [1] - The decline in performance is attributed to reduced sales revenue and other income, along with increased operating expenses, leading to a shift from profit to loss for the company [1]

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in its core business operations while also showing a substantial increase in order contracts, particularly in international markets. Group 1: Financial Performance - The company achieved an operating income of 549 million yuan, a year-on-year decrease of 22.53% [1] - The net profit attributable to shareholders was -7.64 million yuan, compared to a profit of 8.90 million yuan in the same period last year [1] - The net profit after deducting non-recurring gains and losses was -11.51 million yuan, compared to -3.62 million yuan in the previous year [1] - Basic earnings per share were -0.02 yuan [1] Group 2: Revenue Breakdown - The main business revenue was 547 million yuan, down 22.59% year-on-year [2] - Revenue from power station cooling products was 67.24 million yuan, a decrease of 65.55% [2] - Revenue from petrochemical products was 401 million yuan, down 9.61% [2] - Other business income was 2.29 million yuan, a decline of 1.61% [2] Group 3: Order Contracts and Market Expansion - The total order contract amount reached 1.385 billion yuan, an increase of 213.31% year-on-year [2] - The order amount for power station cooling products was 176 million yuan, up 99.16% [2] - The order amount for petrochemical cooling products was 301 million yuan, down 14.89% [2] - The overseas order amount was 908 million yuan, a significant increase of 489.97% [2] - The company attributed the growth in overseas orders to the Belt and Road Initiative and successful international project implementations [2] Group 4: Investment and Project Updates - The company previously announced plans to invest in a new production project for new energy materials with an annual output of 1.2 million sets [3] - The project aimed to establish a large-scale aluminum profile production base focused on market demand [3] - However, the company decided to terminate the investment plan for this project to optimize resource allocation and improve operational efficiency [4]

Core Viewpoint - Harbin Air Conditioning Co., Ltd. (hereinafter referred to as "the Company") announced the termination of its investment plan for a new project aimed at producing 1.2 million sets of new energy materials and supporting products due to economic feasibility concerns stemming from various external factors [1][2]. Group 1: Project Termination - The Company’s board approved the termination of the investment plan for the new energy materials project, which had not commenced substantial construction despite obtaining land use rights [1]. - Reasons for termination include significant fluctuations in import costs due to tariff policy adjustments, transportation, and exchange rate volatility, alongside intensified market competition and pressure on product prices [1][2]. - The project was initially intended to enhance the Company's market expansion capabilities and meet strategic development needs [2]. Group 2: Financial Performance - The Company issued a pre-loss announcement for the first half of 2025, projecting revenue of approximately 548 million yuan, a decline of about 23% compared to the same period last year [3]. - The decline in sales revenue is attributed to adverse macroeconomic conditions and intensified industry competition [3]. Group 3: Strategic Implications - The termination of the project may disrupt the Company's supply chain enhancement efforts and potentially lead to missed opportunities in capacity and technology development [2]. - The Company emphasized that the decision to terminate the project is a prudent measure aimed at optimizing resource allocation and improving operational efficiency, asserting that it will not significantly impact existing business operations or financial results [2][3]. - Experts suggest that while the termination may have short-term negative effects on the Company's brand image and investor confidence, timely cessation of the project could prevent larger losses and maintain financial stability [3].

Core Viewpoint - The company, Harbin Air Conditioning Co., Ltd., has announced its 2024 annual profit distribution plan, which includes a cash dividend of 0.10 yuan per 10 shares, amounting to a total distribution of 3,833,406.72 yuan, representing 52.12% of the net profit attributable to shareholders for the year [4][5][25]. Company Overview - Harbin Air Conditioning operates in the manufacturing sector, focusing on the design, production, and sales of various air-cooled heat exchangers, including petrochemical and power station air coolers [7][8]. - The company has maintained its business model of direct sales and production based on orders, which has been effective in meeting the stable demand from the industrial cooling equipment sector [7][8]. Financial Highlights - For the year 2024, the company reported a net profit attributable to shareholders of 7,355,536.14 yuan, after accounting for statutory surplus reserves and previously distributed dividends [4][25]. - The total distributable profit for shareholders was calculated to be 213,453,737.38 yuan, which includes retained earnings from previous years [4][25]. Profit Distribution Plan - The profit distribution plan for 2024 proposes a cash dividend of 0.10 yuan per 10 shares, with a total payout of 3,833,406.72 yuan, which will be based on the total share capital of 38,334.0672 million shares as of December 31, 2024 [5][25]. - The remaining undistributed profit of 209,620,330.66 yuan will be carried forward to 2025 [5][25]. Asset Impairment Provision - The company has approved a provision for asset impairment totaling 12,972,791.73 yuan, which includes provisions for bad debts and inventory write-downs [16][17][18]. Meeting and Approval Process - The board of directors and the supervisory board have confirmed the accuracy and completeness of the annual report and the profit distribution plan, which will be submitted for approval at the upcoming annual shareholders' meeting [11][19][60].