Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong financial performance and growth potential [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 775 million yuan, a year-on-year increase of 19.99% [1]. - The net profit attributable to shareholders was 34.88 million yuan, reflecting a year-on-year growth of 25.31% [1]. - The basic earnings per share were 0.11 yuan, with a weighted average return on equity of 3.36% [1]. - The gross margin for the first half was 27.40%, up by 2.01 percentage points year-on-year, while the net margin was 4.74%, an increase of 0.29 percentage points [1]. Quarterly Analysis - In Q2 2025, the gross margin decreased to 23.20%, down 2.02 percentage points year-on-year and down 12.42% quarter-on-quarter [1]. - The net margin for Q2 was 3.07%, a decline of 1.16 percentage points year-on-year and a decrease of 4.93% from the previous quarter [1]. Expense Overview - Total operating expenses for the first half were 153 million yuan, an increase of 17.99 million yuan compared to the same period last year [2]. - The expense ratio was 19.72%, down by 1.16 percentage points year-on-year [2]. - Sales expenses decreased by 12.28%, while management expenses increased by 28.04% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 15,600, a decrease of 4,862 or 23.73% from the previous quarter [2]. - The average market value per shareholder increased from 121,600 yuan to 184,200 yuan, a growth of 51.40% [2]. Company Profile - Jiangsu Seagull Cooling Tower Co., Ltd. specializes in the research, design, manufacturing, and installation of industrial cooling towers [3]. - The main revenue sources include conventional cooling towers (59.46%), closed cooling towers (11.21%), and various related services and products [3]. - The company operates within the mechanical equipment sector, specifically in general equipment and other general equipment categories [3].