Bringspring tech.(SZ:300290) Zheng Quan Zhi Xing·2025-04-27 02:02Revenue and Profit - The company achieved total revenue of 122 million yuan in Q1 2025, a slight increase of 0.52% year-on-year [2] - However, the net profit attributable to shareholders was -25.71 million yuan, a significant decline of 84.9% year-on-year, indicating a sharp drop in profitability despite revenue growth [2] Profitability - The company's gross margin was 33.91%, down 11.34 percentage points compared to the same period last year [3] - The net margin was -18.31%, a decrease of 67.58 percentage points year-on-year, reflecting challenges in cost control and profitability [3] - Earnings per share were -0.04 yuan, a decrease of 85.25% year-on-year [3] Expense Control - Total expenditures on sales, management, and financial costs reached 47.25 million yuan, accounting for 38.85% of total revenue, which is a slight decrease of 0.55 percentage points from the previous year [4] - Despite the slight reduction, the high expense ratio continues to exert pressure on the company's profits [4] Cash Flow and Assets Liabilities - As of the end of the reporting period, the company's cash and cash equivalents amounted to 14.3 million yuan, a decrease of 5.11% year-on-year [5] - Accounts receivable reached 43.3 million yuan, representing 56.47% of the latest annual revenue, with a year-on-year increase of 9.42% [5] - Interest-bearing liabilities were 47.57 million yuan, an increase of 6.32% year-on-year [5] - Operating cash flow per share was -0.14 yuan, although it increased by 18.08% year-on-year, it remains negative [5] Summary - Overall, the financial performance of the company in Q1 2025 is unsatisfactory, particularly with a significant decline in net profit and concerning cash flow and accounts receivable management [6] - The company needs to optimize its cost structure, improve operational efficiency, and enhance the recovery of accounts receivable to improve its overall financial health [6]