BERRY GENOMICS(SZ:000710) Zheng Quan Zhi Xing·2025-04-28 23:01Financial Overview - The total operating revenue for Berry Genomics in Q1 2025 was 218 million yuan, a decrease of 22.08% compared to the same period last year [2] - The net profit attributable to shareholders was -6.46 million yuan, a year-on-year decline of 178.47%, while the non-recurring net profit was -3.68 million yuan, down 136.86% year-on-year [2] Revenue and Profitability - The overall gross margin was 49.48%, which represents a decrease of 10.12 percentage points year-on-year [3] - The net profit margin was -2.59%, a significant drop of 176.85% compared to the same period last year [3] Costs and Expenses - Total sales, administrative, and financial expenses reached 82.44 million yuan, accounting for 37.86% of operating revenue, an increase of 6.81% from the previous year [4] Asset Status - As of the end of the reporting period, accounts receivable amounted to 682 million yuan, representing 63.24% of the latest annual operating revenue, indicating potential cash flow pressure [5] - The cash balance was 347 million yuan, an increase of 40.82% year-on-year, while interest-bearing liabilities decreased by 50.23% to 130 million yuan [5] Per Share Metrics - The net asset per share was 4.72 yuan, a decrease of 10.95% year-on-year [6] - The operating cash flow per share was -0.1 yuan, an improvement of 19.03% year-on-year, while earnings per share were -0.02 yuan, worsening by 200.0% [6] Business Model and Outlook - Berry Genomics' business model is primarily marketing-driven, with a negative net profit margin last year indicating room for improvement in cost control and service value [7] - Since its listing, the company has raised a total of 4.389 billion yuan but has only distributed 16.2 million yuan in dividends, indicating a low dividend payout ratio [7] - The company needs to enhance cost management and accounts receivable collection to improve profitability and cash flow health in the future [7]