微盟集團(02013.HK)上半年經調整總收入同比增長7.8%,毛利率大幅升至75.1%,整體逐步釋放盈利潛力
格隆匯8月20日丨微盟集團(02013.HK)公佈中期業績,2025年上半年,集團總收入爲人民幣7.75億元,同比減少10.6%,主要原因是在商家解決方案方面,集團於2024年下半年獲廣告平臺方通知降低全年返點比例,因此,2024年上半年來自商家解決方案的收入應相應調減人民幣1.48億元,導致同比基數上升,還原這部分影響,集團較上年同期的經調整總收入上升約7.8%;在訂閱解決方案方面,集團在2024年削減低質量訂閱業務,帶來2025年上半年訂閱收入遞延部分的減少,其中主動縮減在小微商戶方面的投入導致遞延收入同比減少約人民幣0.30億元,訂閱解決方案收入環比企穩回升,主要貢獻是集團的AI相關收入取得突破,2025年上半年爲人民幣0.34億元。
集團的毛利爲人民幣5.82億元,較2024年上半年增長1.1%,還原返點的影響,較上年同期的經調整毛利人民幣4.29億元增長36.1%,經過過去一年低毛利的TSO服務、金融等業務的削減,集團的收入質量持續改善,毛利率從66.4%上升至75.1%。集團的經調整除利息、稅項、折舊及攤銷前盈利爲人民幣0.72億元,由2024年的虧損人民幣1.76億元大幅改善140.7%,實現自2022年以來的首次扭虧;經調整淨盈利爲人民幣0.17億元,較上年同期的虧損人民幣1.87億元大幅改善109.0%,實現自2021年以來的首次扭虧,集團堅持降本增效,通過削減非核心和低質量的業務,提升運營效率,訂閱解決方案業務虧損大幅收窄,商家解決方案業務持續提供現金流與利潤支撐,集團整體逐步釋放盈利潛力。2025年上半年,集團的經營現金流小幅流出約人民幣0.28億元。截至2025年6月30日,集團現金及銀行存款餘額約爲人民幣15.74億元,現金和財務狀況健康。
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