Revenue and Profit - The company achieved total revenue of 101 million yuan in Q1 2025, a decrease of 4.92% compared to the same period last year [1] - The net profit attributable to shareholders was 3.037 million yuan, down 28.55% year-on-year, while the net profit excluding non-recurring items was 2.9551 million yuan, a decline of 27.92% [1] Profitability Indicators - The gross profit margin was 14.91%, a reduction of 33.23% year-on-year, and the net profit margin was 2.98%, down 25.56% compared to the previous year [2] Cost Control - The total of selling, administrative, and financial expenses was 16.0021 million yuan, accounting for 15.77% of revenue, which is a decrease of 16.1% from the same period last year, indicating improved expense management [3] Cash Flow and Asset Status - The operating cash flow per share was 0.2 yuan, an increase of 127.52% year-on-year, reflecting positive changes in cash flow management [4] - However, accounts receivable were significant, with accounts receivable amounting to 1040.48% of the net profit attributable to shareholders, necessitating close monitoring of collection [4] Asset and Liability Situation - As of the end of the reporting period, the company had cash and cash equivalents of 159 million yuan, a growth of 35.18% year-on-year, while interest-bearing liabilities increased by 5.90% to 79.5686 million yuan [5] - The ratio of cash to current liabilities was only 26.83%, and the average operating cash flow over the past three years was -0.04% relative to current liabilities, indicating a need for further optimization of cash flow management [5] Business Model and Future Development - The company's performance relies heavily on research and marketing efforts, which require in-depth analysis of their effectiveness [6] - Since its listing, the company has raised a total of 211 million yuan and distributed dividends of 54 million yuan, resulting in a dividend-to-financing ratio of 0.26 [6] - Future focus should be on managing cash flow and accounts receivable to enhance overall financial health [6]
晶雪节能:2025年一季度业绩下滑,需关注现金流与应收账款