Ligao Foods (SZ:300973) Zheng Quan Zhi Xing·2025-04-30 05:30Revenue and Profit - The company achieved total revenue of 1.046 billion yuan in Q1 2025, representing a year-on-year increase of 14.13% [2] - The net profit attributable to shareholders reached 88.37 million yuan, up 15.11% year-on-year, while the net profit excluding non-recurring items was 86.26 million yuan, showing a significant growth of 27.3% [2] Profitability - Despite the growth in revenue and profit, the company's profitability indicators showed some pressure, with a gross margin of 29.99%, down 7.97% year-on-year, and a net margin of 8.2%, down 1.13% year-on-year [3] Expense Control - The total of the company's three expenses (selling, administrative, and financial expenses) was 169 million yuan, accounting for 16.13% of revenue, which is a decrease of 14.5% compared to the same period last year, indicating effective expense control [4] Accounts Receivable and Cash Flow - The company's accounts receivable significantly increased to 369 million yuan, with a year-on-year growth of 37.83%, far exceeding the growth rate of revenue [5] - The operating cash flow per share was -0.2 yuan, a decrease of 267.74% year-on-year, indicating substantial pressure in cash flow management [5] Asset and Liability Situation - The company's interest-bearing debt rose to 1.12 billion yuan, an increase of 19.46% year-on-year, with an interest-bearing asset-liability ratio reaching 25.87%, necessitating attention to its debt situation [6] Dividends and Financing - Since its listing, the company has raised a total of 1.197 billion yuan and distributed dividends totaling 373 million yuan, resulting in a dividend-to-financing ratio of 0.31, reflecting a stable operation in the capital market [7]