格隆汇9月25日丨大胜达(603687.SH)在投资者互动平台表示，公司主营业务主要从事纸包装产品的研 发、生产、印刷和销售、主要产品涵盖瓦楞纸箱纸板、高端酒包、精品烟包等。截至目前，公司没有为 宇树机器人提供外包装服务，但与核心零配件厂家建立了合作关系。 ...

Financial Performance - The company reported a total revenue of 1.025 billion yuan for the first half of 2025, an increase of 4.77% year-on-year [1] - The net profit attributable to shareholders reached 59.1465 million yuan, reflecting a year-on-year growth of 22.3% [1] - The gross profit margin improved to 19.36%, up 18.19% compared to the previous year, while the net profit margin increased to 7.78%, a rise of 29.49% [1] Key Financial Metrics - The company's operating expenses, including sales, management, and financial costs, totaled 72.5443 million yuan, accounting for 7.08% of revenue, a decrease of 6.14% year-on-year [1] - Earnings per share (EPS) increased to 0.11 yuan, up 22.22% from the previous year [1] - The cash flow from operating activities per share was 0.27 yuan, reflecting a year-on-year increase of 16.56% [1] Business Evaluation - The company's return on invested capital (ROIC) was 2.97% last year, indicating a relatively weak capital return [3] - The net profit margin for the previous year was 6.14%, suggesting that the added value of the company's products or services is average [3] - The company has a healthy cash asset position, which is crucial for its debt repayment capability [3] Market and Strategic Insights - The company is focusing on the premium packaging business, which achieved a revenue of 409.1412 million yuan in 2024, marking a year-on-year growth of 57.12% [4] - The company is actively expanding into premium and environmentally friendly packaging sectors, establishing both domestic and international sales teams [4] - The average marketing expense per sales personnel is 170,000 yuan, which is significantly higher than that of other companies in the industry [4]

Core Viewpoint - The company plans to distribute cash dividends to shareholders based on its profit distribution proposal for the fiscal year 2024, while also considering its share buyback program and overall financial health [2][39]. Group 1: Company Overview - The company is a leading provider of packaging and printing solutions in China, recognized as a "leading paper packaging enterprise" by the China Packaging Federation [9]. - The main products include corrugated boxes, paper boards, high-end wine packaging, premium cigarette packaging, and biodegradable paper pulp tableware [10]. Group 2: Financial Performance - In 2024, the company achieved operating revenue of RMB 2,131.32 million, a year-on-year increase of 5.84%, and a net profit attributable to shareholders of RMB 106.26 million, up 20.00% [25]. - The net profit after deducting non-recurring gains and losses was RMB 85.56 million, reflecting a significant year-on-year growth of 32.34% due to increased orders for high-end packaging [24]. Group 3: Profit Distribution Plan - The company plans to distribute a cash dividend of RMB 0.5847 per 10 shares (including tax), with a total cash dividend amounting to RMB 31.88 million based on the adjusted total share capital [2][40]. - The total amount for cash dividends and share buybacks combined is RMB 81.97 million, representing 77.14% of the net profit attributable to shareholders for the year [2][40]. Group 4: Industry Insights - The paper packaging industry is experiencing growth driven by sustainability and technological advancements, with increasing demand for eco-friendly and efficient packaging solutions [4]. - The industry is also seeing intensified competition, prompting companies to innovate and seek international market opportunities, particularly in Southeast Asia [4][5].