Core Viewpoint - Beilong Precision Technology Co., Ltd. reported a revenue increase of 5.65% in 2024, but faced a significant decline in net profit due to various industry challenges and operational factors [2][3] Financial Performance - In 2024, Beilong Precision achieved an operating income of 402 million yuan, with a year-on-year growth of 5.65% [2] - The net profit attributable to shareholders was 37.9 million yuan, representing a year-on-year decrease of 34.75% [2] - The non-recurring net profit was 31.48 million yuan, down 38.41% year-on-year [2] - Basic earnings per share stood at 0.54 yuan [2] Quarterly Analysis - In Q4 2024, Beilong Precision's operating income was 105 million yuan, showing a year-on-year decline of 5.82% but a quarter-on-quarter increase of 2.24% [3] - The net profit for Q4 was 11.88 million yuan, down 22.96% year-on-year but up 42.26% quarter-on-quarter [3] - The non-recurring net profit for Q4 was 9 million yuan, reflecting a year-on-year decrease of 39.37% but a quarter-on-quarter increase of 22.50% [3] Profitability Metrics - The gross profit margin for 2024 was 24.47%, a decrease of 6.73 percentage points year-on-year [4] - The net profit margin was 9.43%, down 5.84 percentage points year-on-year [4] Expense Analysis - Total operating expenses for 2024 were 59.93 million yuan, an increase of 7.21 million yuan year-on-year [4] - The expense ratio was 14.91%, up 1.05 percentage points year-on-year [4] - Sales expenses increased by 27.78%, management expenses rose by 38.31%, and R&D expenses grew by 9.64% [4] - Financial expenses decreased by 101.45% [4] Cash Flow - The net operating cash flow for 2024 was 69.79 million yuan, a significant increase of 75.4% year-on-year [4] - The increase in cash flow was attributed to higher cash receipts from sales of goods and services, indicating no reliance on receivables [4] Company Overview - Beilong Precision was established on November 9, 2007, and went public on January 16, 2024 [4] - The company specializes in the R&D, production, and sales of precision structural components, primarily used in smartphones, wearable devices, smart home products, and automotive electronics [4]
贝隆精密2024年营收4.02亿元 净利润下滑超三成