Core Insights - The company reported a slight increase in revenue but significant declines in net profit and cash flow, indicating underlying financial challenges [1][2][9] Revenue Performance - The company achieved a revenue of 2,183,946,704.80 CNY in 2024, marking a 5.40% increase from 2,072,051,028.39 CNY in 2023, driven by product structure optimization and expansion in the new energy sector [1] Profitability Analysis - Net profit attributable to shareholders fell by 70.22% to 30,509,964.49 CNY from 102,443,143.00 CNY in 2023, primarily due to a decrease in gross margin, increased R&D expenses, higher credit impairment losses, and increased inventory write-downs [2][3] Earnings Per Share - Basic earnings per share dropped to 0.2466 CNY from 0.9242 CNY, reflecting the significant decline in net profit [4] - Diluted earnings per share also decreased to 0.1841 CNY from 0.7695 CNY, indicating pressure on core operational profitability [5] Expense Trends - Sales expenses increased by 9.67% to 24,957,638.31 CNY, attributed to market expansion efforts [7] - Management expenses rose by 24.35% to 170,792,990.81 CNY, driven by higher employee compensation and depreciation [7] - Financial expenses surged by 68.46% to 11,595,644.83 CNY, reflecting increased borrowing costs [7] - R&D expenses grew by 12.41% to 147,219,051.73 CNY, highlighting the company's commitment to innovation [7] R&D Workforce - The number of R&D personnel increased by 15.22% to 371, with a slight decrease in the proportion of R&D staff relative to total employees [8] Cash Flow Analysis - Operating cash flow turned negative at -100,694,181.59 CNY, a decline of 132.90% from 306,070,724.69 CNY in 2023, indicating increased cash outflows [9] - Investment cash flow also remained negative at -383,007,306.69 CNY, reflecting ongoing asset investments [9] - Financing cash flow decreased by 61.18% to 209,877,176.60 CNY, primarily due to reduced capital raised compared to the previous year [9]
宁波一彬科技财报解读：营收微增，净利润与现金流大幅下滑