Jinling Sports(SZ:300651) Xin Lang Cai Jing·2025-04-21 18:47Core Viewpoint - Jinling Sports reported a significant decline in both revenue and net profit for 2024, indicating substantial challenges faced by the company over the past year [1][3]. Financial Performance Summary - The company's operating revenue for 2024 was 373,586,278.88 yuan, a decrease of 27.30% from 2023's 513,879,511.26 yuan [2]. - Net profit attributable to shareholders was 26,761,144.42 yuan, down 60.42% from 67,619,162.57 yuan in 2023 [3]. - Basic earnings per share fell to 0.21 yuan, a decline of 60.38% compared to 0.53 yuan in 2023 [4]. Revenue Breakdown - Revenue from ball equipment was 162,160,670.82 yuan, accounting for 43.41% of total revenue, down 27.98% year-on-year [2]. - Venue facilities revenue was 61,162,588.48 yuan, representing 16.37% of total revenue, down 15.91% [2]. - Event services revenue plummeted by 71.99% to 17,588,585.33 yuan, only 4.71% of total revenue [2]. - Glass business revenue increased by 26.01% to 17,905,063.52 yuan, indicating a potential new growth area [2]. Cost and Expense Analysis - Sales expenses decreased by 20.16% to 19,655,763.08 yuan, possibly due to strategic adjustments [5]. - Management expenses slightly decreased by 5.93% to 51,821,352.80 yuan, but still remain high [6]. - Financial expenses surged by 134.52% to 7,014,004.24 yuan, primarily due to increased interest costs [7]. - R&D expenses dropped by 31.22% to 16,163,872.23 yuan, which may impact future innovation and competitiveness [8]. Cash Flow Situation - Net cash flow from operating activities significantly decreased by 72.77% to 43,971,574.21 yuan, indicating weakened cash recovery capabilities [10]. - Net cash flow from investing activities was -49,253,001.10 yuan, a deterioration from -41,570,571.71 yuan in 2023 [11]. - Net cash flow from financing activities also worsened to -24,290,270.31 yuan, compared to -20,050,447.47 yuan in 2023, reflecting increased repayment pressures [12].