新筑股份2025年一季度盈利改善但面临现金流及债务压力

Financial Overview - In Q1 2025, the company reported total revenue of 335 million yuan, a decrease of 27.63% year-on-year [1] - The net profit attributable to shareholders was -18.06 million yuan, showing a year-on-year improvement of 75.20% despite remaining in a loss position [1] - The net profit after deducting non-recurring gains and losses was -62.32 million yuan, with a year-on-year increase of 15.27%, indicating some success in cost control [1] Profitability Analysis - The company's gross margin reached 39.84%, an increase of 33.68 percentage points compared to the same period last year [2] - The net profit margin was 0.47%, reflecting a year-on-year growth of 103.94% [2] - Earnings per share remained negative at -0.02 yuan, but improved by 75.18% year-on-year [2] Expense Control and Cash Flow - Total sales, administrative, and financial expenses amounted to 129 million yuan, accounting for 38.53% of total revenue, which is an increase of 14.10% year-on-year [3] - The net cash flow from operating activities per share was -0.13 yuan, showing a year-on-year improvement of 41.87%, indicating efforts in optimizing cash flow [3] Asset Quality and Debt Levels - As of the end of the reporting period, the company's cash balance was 1.368 billion yuan, a decrease of 18.98% from the beginning of the year [4] - Accounts receivable increased to 2.415 billion yuan, with a growth rate of 20.44% [4] - The total interest-bearing debt rose to 8.146 billion yuan, an increase of 13.45% year-on-year, and the current ratio fell to 0.9, indicating a decline in short-term solvency [4]