SKGF(SZ:002633) Jin Rong Jie·2025-04-18 11:25Core Insights - The company achieved a total revenue of 324 million yuan in 2024, representing a year-on-year growth of 18.70% [1][5] - The net profit attributable to shareholders was 6.8642 million yuan, marking a turnaround from losses with a year-on-year increase of 136.13% [1][5] - The net profit margin stands at 2.12%, significantly below the industry average, indicating room for improvement in profitability [5] - The weighted average return on equity is 1.65%, reflecting low asset utilization efficiency despite an increase from the previous year [5] Revenue and Profit Performance - The gross profit reached 81.3394 million yuan, up 43.46% year-on-year, indicating effective cost control and enhancement of product value [5] - The non-recurring net profit was 5.3923 million yuan, also showing a substantial increase of 125.72% year-on-year [1][5] Cash Flow Analysis - The net cash flow from operating activities was 68.8477 million yuan, a significant increase of 360.12%, suggesting improved sales collection [6] - However, the net cash flow from financing activities dropped to -47.9524 million yuan, a decline of 219.98%, due to reduced external financing [6] - The net cash flow from investing activities was -0.7973 million yuan, down 104.96%, indicating insufficient capital expenditure [7] Financial Risk and Guarantees - The company has issued multiple guarantee announcements, indicating pressure on funding needs, with total guarantees amounting to 630 million yuan, which is 150.17% of the latest audited net assets [8] - High guarantee ratios suggest tight cash flow conditions, increasing financial risk if the guaranteed parties face repayment difficulties [8] Overall Assessment - The company demonstrated revenue and profit growth in 2024, indicating signs of recovery, but faces challenges in profitability, cash flow, and financial stability [8]