Core Viewpoint - Huashi Technology (301218) reported a decline in both revenue and net profit for the fiscal year 2024, indicating significant financial challenges and increased operational costs [1][3]. Financial Performance Summary - Total revenue for 2024 was 501 million yuan, a decrease of 10.84% compared to 562 million yuan in 2023 [1]. - Net profit attributable to shareholders was 9.74 million yuan, down 70.36% from 32.87 million yuan in the previous year [1]. - The gross margin fell to 22.17%, a decline of 12.43% year-on-year, while the net margin decreased to 2.56%, down 63.34% [1]. - The total of selling, administrative, and financial expenses reached 62.11 million yuan, accounting for 12.4% of total revenue, an increase of 38.9% year-on-year [1]. Cash Flow and Financial Position - Operating cash flow increased by 62.7% due to higher cash receipts from sales compared to the previous year [3]. - The net increase in cash and cash equivalents rose by 113.29%, attributed to increased cash flows from operating and financing activities [3]. - Short-term borrowings increased due to the holding subsidiary's additional short-term loans, while long-term borrowings surged by 388.41% due to special loans for the "annual production of 1,000 sets of 3D laser sentry project" [3]. Business Evaluation - The company's Return on Invested Capital (ROIC) was 0.06%, indicating weak capital returns [4]. - The net profit margin of 2.56% suggests low added value for the company's products or services after accounting for all costs [4]. - The company has raised a total of 631 million yuan since its listing, with cumulative dividends amounting to 20.68 million yuan, resulting in a dividend-to-financing ratio of 0.03 [4].
华是科技2024年年报简析：净利润减70.36%，三费占比上升明显