ST新研：一季度营收微增但亏损持续，需关注现金流与债务风险

Financial Overview - Company reported total operating revenue of 32.4714 million yuan, an increase of 3.93% year-on-year [2][5] - The net profit attributable to shareholders was -47.7891 million yuan, an increase of 26.97% year-on-year [2][5] - The net profit excluding non-recurring items was -48.7683 million yuan, an increase of 26.4% year-on-year [2][5] Key Financial Indicators - Gross margin was 1.08%, a decrease of 89.71% year-on-year [5] - Net margin was -154.48%, an increase of 30.05% year-on-year [5] - The ratio of operating expenses to revenue was 179.18%, a decrease of 12.88% year-on-year [3] Per Share Metrics - Earnings per share was -0.03 yuan, an increase of 27.23% year-on-year [5] - Net asset per share was -0.21 yuan, a decrease of 905.84% year-on-year [5] - Operating cash flow per share was -0.02 yuan, a decrease of 336.24% year-on-year [5] Cash Flow and Debt Situation - Cash and cash equivalents amounted to 432 million yuan, an increase of 9.42% year-on-year [5] - Accounts receivable was 261 million yuan, a decrease of 26.78% year-on-year [5] - Interest-bearing liabilities totaled 1.623 billion yuan, a decrease of 3.26% year-on-year [5] - The ratio of cash and cash equivalents to current liabilities was only 22.2% [5] - The current ratio was 0.52, indicating potential liquidity issues [5] Financial Expense Situation - Financial expenses to average operating cash flow over the past three years reached 98.33% [6]