Youngsun Intelligent(603901) 搜狐财经·2025-04-26 22:22Core Viewpoint - Yongchuang Intelligent (603901) reported a year-on-year increase in total revenue and net profit for Q1 2025, but showed a decline in gross and net profit margins, indicating mixed financial performance [1]. Financial Performance - Total revenue for Q1 2025 reached 889 million yuan, a 7.07% increase compared to 830 million yuan in Q1 2024 [1]. - Net profit attributable to shareholders was 40.68 million yuan, up 5.75% from 38.47 million yuan in the same period last year [1]. - Gross margin decreased to 25.67%, down 11.16% year-on-year from 28.90% [1]. - Net margin also fell to 4.57%, a decrease of 4.02% from 4.76% [1]. - Operating cash flow per share improved significantly to 0.16 yuan, a 138.15% increase from -0.41 yuan [1]. Accounts Receivable and Debt - The company's accounts receivable were notably high, with accounts receivable to net profit ratio reaching 4155.6% [1]. - Interest-bearing liabilities slightly decreased to 18.69 billion yuan, down 0.87% from 18.85 billion yuan [1]. - The company's debt situation is concerning, with an interest-bearing asset liability ratio of 22.79% [5]. Cost Structure - Total expenses (selling, administrative, and financial) amounted to 114 million yuan, accounting for 12.79% of revenue, a decrease of 11.03% year-on-year [1]. - The company’s return on invested capital (ROIC) was low at 1.37%, indicating weak capital returns [5]. Cash Flow and Dividends - The company has accumulated a total financing of 711 million yuan and total dividends of 346 million yuan since its listing, resulting in a dividend-to-financing ratio of 0.49 [5]. - Cash flow management is critical, with cash and cash equivalents representing only 7.76% of total assets [5].