Zhejiang Jiemei Electronic And Technology (SZ:002859) Xin Lang Cai Jing·2025-04-29 06:26Core Viewpoint - The quarterly report of Zhejiang Jiemai Technology Co., Ltd. indicates significant changes in financial metrics, with notable declines in net profit and operating cash flow, primarily due to increased costs and financial expenses [4][8]. Financial Data Summary Major Accounting Data and Financial Indicators - The company does not require retrospective adjustments or restatements of previous accounting data [4]. - There are no non-recurring profit and loss items applicable [4]. Balance Sheet Items - Accounts receivable financing increased by 101.58% compared to the beginning of the period, attributed to revenue growth and an increase in bank acceptance bills held [6]. - Other receivables decreased by 34.22%, mainly due to the receipt of export tax refunds from the previous year [6]. - Other current assets increased by 30.89%, driven by an increase in deductible VAT input tax [6]. - Contract liabilities grew by 31.88%, reflecting an increase in advance payments received [6]. - Employee compensation payable decreased by 47.92%, due to the distribution of last year's year-end bonuses [6]. - Taxes payable decreased by 59.57%, as a result of paying last year's land use tax and property tax [6]. - Other payables decreased by 57.26%, primarily due to payments made for the acquisition of controlling subsidiary Ruzhen Technology [6]. - Current portion of non-current liabilities increased by 37.18%, due to an increase in long-term loans due within one year [6]. - Other current liabilities surged by 128.76%, linked to an increase in advance payments and corresponding VAT to be transferred [6]. Income Statement Items - Financial expenses increased by 294.98%, due to the capitalization of interest on long-term loans and foreign exchange losses [7]. - Other income rose by 410.97%, attributed to increased government subsidies and VAT deductions [7]. - Investment income decreased, primarily due to increased financing discount losses and losses from equity method investments [7]. - Credit impairment losses decreased by 50.40%, due to a reduction in bad debt provisions [7]. - Asset impairment losses saw a significant decrease of 16714.91%, related to goodwill impairment losses from acquisitions [7]. - Operating profit declined by 42.67%, driven by rising material costs and increased depreciation [7]. - Total profit decreased by 42.67%, reflecting the same cost pressures [7]. - Net profit decreased by 39.86%, influenced by increased costs and financial expenses [8]. Cash Flow Statement Items - Net cash flow from operating activities decreased by 41.74%, due to increased payments for materials and employee compensation [9]. - Cash inflow from investment activities decreased by 66.72%, primarily due to reduced cash from asset disposals [9]. - Cash outflow for investment activities increased by 79.90%, linked to project investments [9]. - Net cash flow from financing activities decreased by 57.34%, due to increased loan repayments [9]. - The ending cash and cash equivalents balance decreased by 34.87% [9].