Core Viewpoint - Qingdao Double Star Co., Ltd. reported a decline in net profit for the first half of 2025, with a net loss of approximately 180.18 million yuan, compared to a loss of 78.34 million yuan in the same period last year [4][5][6]. Financial Summary Balance Sheet - Total assets increased to 9.23 billion yuan from 9.12 billion yuan year-on-year [1][2]. - Current assets totaled 3.27 billion yuan, up from 3.18 billion yuan [1]. - Non-current assets slightly increased to 5.97 billion yuan from 5.94 billion yuan [1]. Liabilities - Total liabilities rose to 7.69 billion yuan from 7.39 billion yuan [2]. - Current liabilities increased significantly to 6.65 billion yuan from 5.75 billion yuan [2]. - Short-term borrowings surged to 3.97 billion yuan from 3.30 billion yuan [2]. Equity - Total equity decreased to 1.54 billion yuan from 1.73 billion yuan [2]. - The company reported a retained earnings deficit of approximately 1.17 billion yuan [2]. Income Statement - Total operating revenue was approximately 2.27 billion yuan, slightly down from 2.28 billion yuan [4]. - Total operating costs increased to 2.51 billion yuan from 2.40 billion yuan [4]. - Operating profit showed a loss of 178.24 million yuan, compared to a loss of 75.47 million yuan in the previous year [4]. Cash Flow Statement - Net cash flow from operating activities was negative at -133.82 million yuan, compared to a positive 69.89 million yuan last year [5]. - Net cash flow from investing activities was also negative at -192.23 million yuan [5]. - Net cash flow from financing activities was positive at 645.98 million yuan, a turnaround from a negative cash flow of -446.40 million yuan last year [5].