AVICHM(600765) 新浪财经·2025-05-08 10:24Core Insights - The company reported Q1 2025 revenue of 2.306 billion, a year-on-year decrease of 21.15%, and a net profit attributable to shareholders of 198 million, down 38.97% [1] - Despite the year-on-year decline, the company achieved a quarter-on-quarter revenue growth of 13.58%, indicating a potential recovery in downstream demand [2] - The company has a solid order backlog, with commercial engineering orders increasing by 42.39% year-on-year, supporting its annual operational goals [3] Financial Performance - Q1 2025 revenue was 2.306 billion, with a profit total of 303 million, achieving 20.05% and 23.30% of the annual budget targets of 11.5 billion and 1.3 billion respectively [2] - The gross profit margin for Q1 2025 was 33.8%, an increase of 4.1 percentage points year-on-year, while the net profit margin was 11.1%, a decrease of 1.1 percentage points [2] - The company maintained stable profitability despite pressures from tax reforms and price adjustments, with sales expense ratio at 1.0%, management expense ratio at 8.5%, R&D expense ratio at 5.4%, and financial expense ratio at 0.6% [2] Order Backlog and Market Position - As of the end of March, the company had a sufficient order backlog, with significant new orders signed in April totaling 1.707 billion [3] - The company is leveraging six regional coordination centers and seven IPT teams to enhance market development and transition product structures towards high-value areas [3] - The successful transition from old to new models in forging and other sectors is expected to empower the company's long-term development [3]