Konruns(603590) 证券之星·2025-04-26 23:23Revenue and Profit - The company achieved total revenue of 212 million yuan in Q1 2025, representing a year-on-year increase of 6.41% [1] - The net profit attributable to shareholders was 44.5 million yuan, up 6.83% year-on-year, while the net profit excluding non-recurring items was 43.9 million yuan, reflecting a 10.7% increase [1] Profitability - The gross margin stood at 90.14%, an increase of 1.59 percentage points year-on-year, indicating effective cost control in core operations [2] - However, the net profit margin decreased to 22.71%, down 3.43 percentage points year-on-year, suggesting a decline in profitability despite rising sales [2] Expense Control - Total selling, administrative, and financial expenses amounted to 122 million yuan, accounting for 57.64% of revenue, which is a decrease of 0.62 percentage points year-on-year, indicating improved expense management [3] Cash Flow and Asset Status - Operating cash flow per share was -0.2 yuan, a significant decrease of 170.26% year-on-year, highlighting increased cash outflow pressure in operations [4] - Monetary funds decreased from 314 million yuan to 212 million yuan, a year-on-year reduction of 32.49%, warranting attention [4] Accounts Receivable and Liabilities - Accounts receivable reached 303 million yuan, a year-on-year increase of 19.52%, with accounts receivable to profit ratio at 717.07%, indicating potential collection risks [5] - Interest-bearing liabilities rose to 217 million yuan, up 23.43% year-on-year, reflecting an increase in the company's debt level [5] Dividends and Financing - Since its listing, the company has raised a total of 974 million yuan and distributed dividends totaling 344 million yuan, resulting in a dividend-to-financing ratio of 0.35, indicating stable capital operations [6] Business Model - The company's performance is primarily driven by research and marketing, necessitating further observation of these drivers' effectiveness and their long-term impact on the company's development [7]