水星家纺(603365) - 2025 Q1 - 季度财报

Financial Performance - The company's total revenue for Q1 2025 was CNY 925,792,425.59, representing a 1.20% increase compared to CNY 914,801,168.20 in the same period last year[3]. - Net profit attributable to shareholders decreased by 3.79% to CNY 89,782,507.62 from CNY 93,321,484.89 year-on-year[3]. - The basic earnings per share (EPS) fell by 5.56% to CNY 0.34 from CNY 0.36 in the same quarter last year[3]. - The net profit for the first quarter of 2025 was CNY 89,771,662.69, a decrease of 3.7% compared to CNY 93,321,484.89 in the first quarter of 2024[15]. - Operating profit for the first quarter of 2025 was CNY 106,767,399.52, slightly up from CNY 103,448,683.42 in the same period last year, reflecting a growth of 3.1%[15]. - Total revenue from sales of goods and services in the first quarter of 2025 reached CNY 1,060,422,099.15, compared to CNY 1,026,372,704.68 in the first quarter of 2024, indicating an increase of 3.3%[17]. - The total comprehensive income for the first quarter of 2025 was CNY 89,771,662.69, compared to CNY 93,321,484.89 in the first quarter of 2024, indicating a decrease of 3.7%[16]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -65,660,893.99, compared to CNY -8,789,561.98 in the previous year, indicating a significant decline in cash generation[3]. - The net cash flow from operating activities for the first quarter of 2025 was negative at CNY -65,660,893.99, worsening from CNY -8,789,561.98 in the first quarter of 2024[18]. - Investment activities generated a net cash flow of CNY 12,506,567.36 in the first quarter of 2025, a significant improvement compared to CNY -189,898,818.91 in the same period last year[18]. - The company's cash and cash equivalents stood at RMB 834,966,814.49 as of March 31, 2025, compared to RMB 893,932,732.90 at the end of 2024, a decrease of about 6.6%[10]. - The cash and cash equivalents at the end of the first quarter of 2025 stood at CNY 833,038,678.00, down from CNY 943,930,428.27 at the end of the first quarter of 2024[18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,763,185,522.84, a decrease of 1.06% from CNY 3,803,391,455.45 at the end of the previous year[3]. - Total liabilities as of March 31, 2025, were RMB 688,221,043.86, down from RMB 825,810,545.39 at the end of 2024, showing a reduction of approximately 16.7%[12]. - The company's total equity as of March 31, 2025, was RMB 3,074,964,478.98, up from RMB 2,977,580,910.06 at the end of 2024, indicating an increase of about 3.3%[12]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 7,955[7]. - The largest shareholder, Mercury Holdings Group Co., Ltd., holds 41.04% of the shares, totaling 107,800,000 shares[7]. - The company's equity attributable to shareholders increased by 3.27% to CNY 3,074,924,450.55 from CNY 2,977,530,036.70 at the end of the previous year[3]. Operating Costs and Expenses - Total operating costs for Q1 2025 were RMB 838,548,390.61, compared to RMB 813,376,116.91 in Q1 2024, indicating an increase of about 3.1%[14]. - Operating costs included RMB 519,344,105.51 in operating expenses for Q1 2025, down from RMB 535,738,158.71 in Q1 2024, reflecting a decrease of approximately 3.1%[14]. - The company incurred sales expenses of CNY 244,336,280.57 in the first quarter of 2025, up from CNY 212,788,146.39 in the first quarter of 2024, reflecting an increase of 14.8%[15]. - Research and development expenses rose to CNY 19,722,523.41 in the first quarter of 2025, compared to CNY 17,927,291.52 in the first quarter of 2024, marking an increase of 10.0%[15]. Other Income and Future Outlook - Other income surged by 327.14%, primarily due to an increase in government subsidies received[5]. - The company reported a net profit margin improvement, with net profit for Q1 2025 expected to reflect operational efficiencies despite rising costs[14]. - Future outlook includes potential market expansion and new product development strategies aimed at enhancing revenue growth in upcoming quarters[14]. - The company reported a significant increase in prepayments by 38.27%, attributed to higher advance payments for goods and expenses[5].