Overview of Business Performance - The company reported a total operating revenue of 213 million yuan for Q1 2025, representing a year-on-year decrease of 8.16% [1] - The net profit attributable to the parent company was 33.86 million yuan, down 17.57% year-on-year [1] - The net profit after deducting non-recurring items was 31.18 million yuan, a decline of 21.54% year-on-year [1] - The performance in the first quarter aligns with the overall trend of declining figures [1] Key Financial Indicators - Gross margin stood at 24.78%, showing a year-on-year increase of 3.0% [7] - Net profit margin was 15.76%, reflecting a year-on-year decrease of 10.79% [7] - The ratio of selling, general, and administrative expenses to revenue was 6.33%, which increased by 621.03% year-on-year [7] - Earnings per share were 0.34 yuan, down 17.07% year-on-year [7] - The company’s cash flow from operations per share was 0.98 yuan, up 3105.73% year-on-year [7] Accounts Receivable and Cash Flow - The accounts receivable amounted to 129 million yuan, which is a decrease of 24.56% compared to the same period last year [3] - Accounts receivable represented 86.09% of the latest annual net profit, indicating a significant proportion that requires ongoing monitoring [3] Costs and Expenses - Total selling, administrative, and financial expenses reached 13.49 million yuan, accounting for 6.33% of revenue, which is a substantial increase year-on-year [4] - The significant rise in expenses may impact the company's profitability [4] Asset and Liability Situation - The company has raised a total of 975 million yuan since its listing, with cumulative dividends amounting to 90 million yuan, resulting in a dividend-to-financing ratio of 0.09 [5] - The company’s cash and cash equivalents were reported at 280 million yuan, down 59.92% year-on-year [8] - Interest-bearing liabilities were 78.45 million yuan, a decrease of 28.78% compared to the previous year [8] Summary - Overall, the company's performance in Q1 2025 was relatively lackluster, with declines in both revenue and net profit [6] - The large scale of accounts receivable and rapid expense growth are factors that warrant close attention from investors [6]
万得凯2025年一季度业绩下滑，需关注应收账款和费用增长