跃岭股份扭亏背后：超九成净利依赖资产处置收益，投资支出显著增加

Core Viewpoint - In 2024, Yue Ling Co., Ltd. successfully reversed its previous year's loss, achieving a net profit of 47.19 million yuan, a significant increase of 192.52% compared to a loss of 51.01 million yuan in 2023, primarily driven by asset disposal gains [1][4]. Financial Performance - The company reported total revenue of 707.8 million yuan, marking a year-on-year growth of 10.72% [1]. - The net profit attributable to shareholders was 47.19 million yuan, with a substantial improvement from the previous year's loss [1]. - The net profit after deducting non-recurring gains was only 482.33 thousand yuan, indicating reliance on asset disposal for profitability [1][4]. Asset Disposal and Revenue Sources - Asset disposal gains amounted to 45.77 million yuan, constituting 96.97% of the total net profit [1][2]. - The key transaction involved the sale of land and factory in Zhejiang, generating approximately 44.73 million yuan in net income after taxes [1]. Revenue Breakdown - The majority of revenue, 99.82%, came from the transportation equipment manufacturing sector, with export sales accounting for 88.79% and domestic sales for 11.21% [4]. - Revenue from automotive coating wheels and spinning wheels was 367 million yuan and 138 million yuan, respectively, showing year-on-year growth of 9.11% and 46.92% [4]. - Low-pressure wheels generated 187 million yuan in revenue, down 4.58%, with a negative gross margin of -0.89% [4]. Cash Flow and Investment - The net cash flow from operating activities was 52.41 million yuan, a decline of 3.25% year-on-year [4]. - Investment activities resulted in a net cash outflow of 49.30 million yuan, a significant decrease of 5570.53% [4]. - The net increase in cash and cash equivalents was 16.15 million yuan, down 81.94% compared to the previous year [4]. Investment Activities - The company significantly increased its investment expenditures to 182 million yuan, a rise of 799.15% year-on-year, primarily due to the purchase of bank financial products and large bank deposits [6]. - The proportion of trading financial assets rose from 1.01 million yuan to 40.88 million yuan, reflecting increased investments [6].