瑞玛精密2024年财报：营收增长12.51%，净利润却由盈转亏

Core Viewpoint - 瑞玛精密 reported a revenue increase in 2024 but faced significant losses, raising concerns about its future development and profitability [1][4]. Revenue Growth with Concerns - The company achieved a total revenue of 1.774 billion yuan in 2024, a year-on-year increase of 12.51%, indicating efforts in market expansion and business growth [1][4]. - Despite revenue growth, the net profit turned into a loss of 25.32 million yuan, a year-on-year decline of 148.99%, highlighting issues in cost control and profitability [1][4]. - The automotive sector remains the primary revenue source, generating 1.478 billion yuan in 2024, a growth of 29.70%, with significant contributions from precision metal components for vehicles and seating comfort systems [4]. Rising Costs and Declining Profitability - The gross profit for 2024 was 356 million yuan, slightly down from 363 million yuan in 2023, indicating rising costs outpacing revenue growth [5]. - Increased investment in R&D and market expansion did not yield immediate benefits, leading to a decline in gross margin and overall profitability [5]. - The company faced negative cash flow from operating activities due to increased business scale and accounts receivable, indicating challenges in cash flow management [5]. Subsidiary Performance and Financial Pressure - 瑞玛精密 invested 197 million yuan to acquire minority stakes in 广州市信征汽车零件有限公司, aiming to strengthen its position in the seating comfort systems sector, but the subsidiary failed to meet performance commitments [6]. - As of the end of Q1 2024, the company had cash reserves of 127 million yuan and short-term loans of 220 million yuan, with a high debt ratio of 61.87%, exacerbating financial pressure [6]. - The company announced a plan to raise 680 million yuan through a private placement to alleviate financial strain, but the outcome remains uncertain [6].