HGZN(SZ:000584) Sou Hu Cai Jing·2025-04-28 22:10Financial Performance - The company *ST Gongzhi (000584) reported a total revenue of 106 million yuan for Q1 2025, a significant decrease of 75.21% year-on-year [1] - The net profit attributable to shareholders was -28.4953 million yuan, reflecting a drastic decline of 2171.64% compared to the previous year [1] - The gross profit margin improved to 16.49%, an increase of 38.85% year-on-year, while the net profit margin plummeted to -26.4%, a decrease of 20083.12% [1] Expense Analysis - The total of financial, sales, and management expenses reached 30.7132 million yuan, accounting for 28.94% of total revenue, which is a 214.33% increase year-on-year [1] - The company’s operating cash flow per share was 0.02 yuan, showing a year-on-year increase of 128.67% [1] Asset and Liability Overview - Cash and cash equivalents decreased to 63.8122 million yuan, down 39.27% from the previous year [1] - The company’s interest-bearing liabilities were reported at 242 million yuan, a reduction of 20.51% year-on-year [1] - The net asset value per share fell to 0.39 yuan, a decline of 45.17% compared to the previous year [1] Business Model and Recommendations - The company relies heavily on research and development for its business performance, which necessitates a thorough examination of the underlying drivers [4] - Recommendations include monitoring cash flow status, debt levels, financial expenses, and accounts receivable due to the negative net profit reported [4]