Youngor(SH:600177) Zheng Quan Zhi Xing·2025-04-24 22:07Core Insights - The company reported a total revenue of 14.188 billion yuan for 2024, an increase of 3.19% year-on-year, but the net profit attributable to shareholders decreased by 19.41% to 2.767 billion yuan, indicating a decline in profitability despite revenue growth [1] Operational Overview - In Q4, total revenue was 5.788 billion yuan, down 8.0% year-on-year, with net profit falling 65.51% to 256 million yuan, reflecting significant operational pressure at year-end [2] Key Financial Metrics - Gross margin was 39.79%, a decrease of 9.67% year-on-year, while net margin was 19.43%, down 23.91% year-on-year. Operating expenses accounted for 32.64% of revenue, an increase of 0.24%. Earnings per share decreased by 20.0% to 0.6 yuan, and operating cash flow per share dropped 76.35% to 0.33 yuan, indicating challenges in cost control and cash flow [3] Balance Sheet Highlights - Cash and cash equivalents totaled 7.737 billion yuan, down 39.65% year-on-year. Accounts receivable decreased by 23.24% to 227 million yuan, while interest-bearing debt was 19.289 billion yuan, down 19.02%, reflecting efforts to reduce liabilities [4] Cash Flow Analysis - Net cash flow from operating activities decreased by 76.37%, while cash flow from investing activities increased by 255.93%. Cash flow from financing activities decreased by 129.62%, with the decline in operating cash flow attributed to reduced sales in the real estate sector [5] Business Segment Performance - The fashion segment reported revenue of 6.799 billion yuan, down 6.94%, with net profit declining 43.90% to 431 million yuan. The real estate segment had no new projects, with pre-sale revenue dropping 69.03% to 3.031 billion yuan, while recognized revenue increased 16.20% to 7.471 billion yuan, with net profit down 73.23% to 153 million yuan. The investment segment saw net profit grow by 5.43% to 2.209 billion yuan [6]