LCXX(000977) 华尔街见闻·2025-04-29 12:31Core Viewpoint - The company reported significant growth in Q1 2025, driven primarily by increased demand for servers, resulting in substantial revenue and profit increases [1][3]. Financial Performance - The company achieved a revenue of 468.58 billion yuan in Q1 2025, representing a year-on-year increase of 165.31% [2][3]. - The net profit attributable to shareholders was 4.63 billion yuan, up 52.78% compared to the same period last year [1][3]. - The net profit excluding non-recurring items reached 4.27 billion yuan, reflecting an 80.76% increase year-on-year [1][3]. - Operating cash flow net amount was 58.03 billion yuan, showing a remarkable growth of 265.48% [1][4]. Asset and Liability Structure - Total assets reached 914.81 billion yuan, a growth of 28.44% from the end of the previous year [1][4]. - Cash and cash equivalents increased significantly by 138.44% to 176.75 billion yuan, supporting business expansion [4]. - Accounts receivable rose by 45.51% to 169.41 billion yuan, indicating a potential extension in the collection period due to increased sales [4]. - Inventory grew to 458.82 billion yuan, up 12.8% from the beginning of the period [4]. - Short-term borrowings surged by 279.55%, reflecting increased funding needs due to business expansion [4]. Business Growth Drivers - The strong performance in the server business was the main driver of the company's growth, attributed to rising customer demand [1][3]. - Despite the growth, the company's gross margin experienced a slight decline, with operating costs increasing by 178.82%, slightly outpacing revenue growth [3].