Core Viewpoint - Shengjing Micro's financial performance in the first half of 2025 shows steady growth, with revenue and net profit increasing significantly, indicating a positive trend in the company's operations [1][3]. Financial Performance - In the first half of 2025, Shengjing Micro achieved operating revenue of 235 million yuan, a year-on-year increase of 2.4% [1]. - The net profit attributable to shareholders reached 14 million yuan, reflecting a substantial year-on-year growth of 57.66% [1]. - The net profit margin improved from 2.01% in the first half of 2024 to 6.60% in 2025, an increase of 4.59 percentage points, indicating enhanced profitability [3]. - The gross profit margin decreased from 36.46% in the first half of 2024 to 34.58% in 2025, a decline of 1.88 percentage points [3]. - The return on equity (ROE) for the first half of 2025 was 0.91%, up by 0.28 percentage points year-on-year [3]. Operational Efficiency - Shengjing Micro's inventory turnover days improved to 261.74 days, a reduction of 21.86% compared to the first half of 2024, indicating better inventory management [5]. - The net cash flow from operating activities was 50 million yuan, a significant turnaround from a negative 39 million yuan in the same period of 2024, showcasing improved cash flow conditions [5]. - The asset-liability ratio for the first half of 2025 was 11.08%, down by 4.19 percentage points year-on-year, reflecting a more robust financial structure [5]. Institutional Holdings - As of the first half of 2025, the number of institutions holding Shengjing Micro's stock decreased to 10, down from 2,178 in the same period of 2024, indicating a decline in institutional investor confidence [7]. - The company's market capitalization peaked at 6.944 billion yuan on January 29, 2024, while the current market cap stands at 4.183 billion yuan, suggesting a need for a 66.02% increase in stock price to reach its historical high [7]. - Despite the decline in institutional holdings, improvements in profitability and cash flow position the company favorably for future growth [7].