Libert(SH:605167) Xin Lang Cai Jing·2025-05-06 10:39Core Insights - The company achieved a revenue of 3.493 billion yuan in 2024, representing a year-on-year growth of 7.72%, while net profit attributable to shareholders reached 240 million yuan, up 26.45% year-on-year [1][2] - In Q1 2025, the company reported a revenue of 668 million yuan, a slight increase of 1.45% year-on-year, but net profit attributable to shareholders decreased by 8.07% [1][2] Financial Performance - The gross margin for 2024 was 16.09%, an increase of 1.55 percentage points year-on-year, primarily due to a shift in revenue structure with industrial module design and manufacturing revenue growing by 46.36% [2][3] - The company's net profit margin for 2024 was 6.89%, up 1.02 percentage points year-on-year, while the net profit margin after deducting non-recurring items was 6.55%, an increase of 0.92 percentage points [3] Cash Flow and Orders - The company reported a net cash inflow from operating activities of 415 million yuan for the full year 2024, an increase of 64 million yuan year-on-year, with a cash collection ratio of 95.44% [4] - As of September 2024, the company had a backlog of orders amounting to approximately 4.881 billion yuan, with an estimated conversion rate for Q4 2024 orders ranging from 60.94% to 92.48% [4] Investment and Expansion - The company plans to use funds raised from convertible bonds for a large industrial module manufacturing project, aimed at enhancing its capacity to undertake larger scale projects in sectors such as petrochemicals and nuclear power [4]