本报讯 （记者王僖）8月27日晚，山东朗进科技股份有限公司（以下简称"朗进科技"）披露2025年半年 度报告，公司上半年实现营收3.4亿元，归属于上市公司股东的净利润147.64万元，同比实现扭亏为盈； 扣除非经常性损益后的净利润30.05万元，同样实现扭亏，盈利能力显著改善。 从业务端看，公司核心板块轨道交通车辆空调及服务成为盈利关键驱动力。报告期内该业务实现收入 2.38亿元，同比增长11.98%，毛利率提升至33.16%。公司上半年成功中标深圳地铁13号线、北京地铁1 号线增购、济南地铁7号线和9号线等国内重点项目，国际市场亦斩获意大利罗马项目、挪威奥斯陆地铁 等订单，并完成意大利轨道车辆空调项目交付，国内外市场同步发力巩固行业地位。公司还紧抓市场机 遇，上半年成功斩获北京、南宁、宁波、上海等重点城市的轨道交通维保服务订单，实现后市场业务的 战略性突破。 针对此前资金占用问题，公司董事会已采取强化内部审计监督、严格关联交易审批、加强董监高合规培 训等整改措施，进一步完善公司治理，防范同类风险再次发生。未来，朗进科技将继续聚焦轨道交通主 业，同时推进新能源、储能等业务拓展，助力公司持续健康发展。 （编辑 ...

Core Insights - The company reported a significant decline in net profit, with a year-on-year decrease of 2309.28%, indicating severe operational pressure [3] - Revenue slightly decreased by 2.35%, with a notable growth in the rail transportation air conditioning and service segment, which increased by 14.18% [1][2] - The company faces challenges in its core business profitability, as reflected in the substantial drop in both net profit and non-recurring net profit [4][6] Revenue Analysis - Total revenue for 2024 was approximately 880.97 million yuan, down from 902.20 million yuan in 2023 [1] - The rail transportation segment accounted for 66.29% of total revenue, while the new energy and smart thermal management products saw a significant decline of 33.88% [1] - Revenue from other business segments increased by 196.15%, reaching approximately 5.52 million yuan [1] Profitability Metrics - The net profit attributable to shareholders was -76.41 million yuan, a drastic increase in losses compared to -3.17 million yuan in 2023 [3] - The non-recurring net profit also showed a significant decline, amounting to -80.53 million yuan, compared to -5.48 million yuan in the previous year [4] - Basic earnings per share fell to -0.83 yuan, down from -0.03 yuan, indicating a severe impact on shareholder returns [5] Expense Overview - Sales expenses rose by 29.25% to approximately 106.00 million yuan, driven by increased market expansion efforts [7] - Management expenses increased by 42.00% to about 55.76 million yuan, primarily due to higher depreciation and amortization [7] - Financial expenses grew by 41.53% to around 16.27 million yuan, attributed to increased bank and factoring financing [7] Research and Development - R&D investment was approximately 61.23 million yuan, representing 6.95% of total revenue, slightly up from 6.43% [9] - The number of R&D personnel increased to 214, with a notable rise in master's degree holders by 25.93% [9] Cash Flow Analysis - The net cash flow from operating activities was -101.73 million yuan, a decrease of 33.00% from the previous year [10] - Cash flow from investing activities improved significantly to approximately 36.73 million yuan, compared to -19.59 million yuan in 2023 [10] - Cash flow from financing activities surged to about 143.65 million yuan, up 923.83% from the previous year, indicating increased financing activities [10] Management Compensation - The compensation for executives remained stable, with the chairman receiving 624,600 yuan and the general manager receiving 494,100 yuan [12] - The relationship between executive compensation and company performance raises questions, especially in light of significant losses [12]