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惠达卫浴(603385) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 662.73 million, a decrease of 3.76% compared to CNY 688.59 million in the same period last year[5]. - Net profit attributable to shareholders was CNY 10.81 million, down 61.90% from CNY 28.38 million year-on-year[5]. - The net cash flow from operating activities was CNY 44.82 million, reflecting a decline of 10.07% from CNY 49.84 million in the previous year[5]. - The basic earnings per share decreased to CNY 0.0284, a drop of 61.83% compared to CNY 0.0744 in the same period last year[5]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, which was CNY -3.37 million, a decline of 129.38% year-on-year[5]. - The company experienced a 62.69% decline in operating profit, attributed to lower revenue and gross margin compared to the previous year[8]. - Total operating revenue for Q1 2025 was ¥662,728,010.43, a decrease of 3.9% compared to ¥688,589,341.98 in Q1 2024[17]. - Net profit for Q1 2025 was ¥7,964,952.60, a decline of 68.4% from ¥25,207,817.08 in Q1 2024[18]. - Earnings per share for Q1 2025 was ¥0.0284, compared to ¥0.0744 in Q1 2024, reflecting a decrease of 61.8%[19]. - The company reported a total comprehensive income of ¥7,964,952.60 for Q1 2025, down from ¥25,207,817.08 in Q1 2024[19]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5.33 billion, down 3.73% from CNY 5.54 billion at the end of the previous year[6]. - As of March 31, 2025, the total assets of the company amounted to ¥5,328,942,074.05, a decrease from ¥5,535,670,035.12 as of December 31, 2024, representing a decline of approximately 3.74%[12]. - The company's current assets totaled ¥2,796,961,168.48, down from ¥2,955,783,587.74, indicating a decrease of about 5.36%[13]. - The company's total liabilities decreased to ¥1,431,641,600.34 from ¥1,643,802,204.23, reflecting a reduction of approximately 12.87%[14]. - The company's total liabilities and equity amounted to ¥5,328,942,074.05 as of the end of Q1 2025, compared to ¥5,535,670,035.12 at the end of Q1 2024[15]. - The company’s total equity attributable to shareholders was ¥3,791,195,517.01, an increase from ¥3,782,147,050.91 in the previous year[15]. Cash Flow - The net cash flow from operating activities was 44,819,670.35, a decrease from 49,839,168.34 in the previous period[23]. - The total cash inflow from investment activities was 398,115,870.44, down from 697,076,102.74[23]. - The net cash flow from investment activities was -6,386,388.29, compared to 421,079,001.65 in the previous period[23]. - The cash inflow from financing activities was 10,000,000.00, a decrease from 33,076,001.00[23]. - The net cash flow from financing activities was -31,423,304.31, compared to -95,482,968.35 in the previous period[23]. - The net increase in cash and cash equivalents was 10,279,684.28, significantly lower than 377,643,896.72 in the previous period[24]. - The ending balance of cash and cash equivalents was 226,645,550.57, compared to 544,097,024.17 in the previous period[24]. Expenses - Research and development expenses decreased by 60.69%, primarily due to adjustments in ongoing R&D projects[8]. - Research and development expenses for Q1 2025 were ¥20,550,597.52, a decrease of 30% from ¥29,349,466.42 in Q1 2024[17]. - The company experienced a decrease in sales expenses, which were ¥77,596,837.39 in Q1 2025, down from ¥82,319,239.35 in Q1 2024, indicating a cost control strategy[17]. - The cash paid to employees was 227,630,907.25, an increase from 202,530,013.88[23]. - The cash paid for taxes was 29,656,934.58, down from 37,213,760.03[23]. - The cash paid for investment activities was 404,502,258.73, compared to 275,997,101.09 in the previous period[23]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,042[10]. - The top shareholder, Wang Huiwen, holds 17.60% of the shares, totaling 66,982,269 shares[10]. Inventory and Receivables - Accounts receivable decreased to ¥703,698,801.43 from ¥821,413,764.96, a decline of approximately 14.33%[13]. - Inventory increased to ¥989,621,566.95 from ¥969,893,982.53, reflecting an increase of about 2.66%[13]. - The company reported a decrease in accounts payable to ¥586,234,505.89 from ¥585,157,600.28, indicating a slight increase of about 0.18%[14]. Product Development and Strategy - The company has not reported any new product developments or market expansion strategies during this period[12].