IAT(SZ:300825) Sou Hu Cai Jing·2025-06-19 07:22Core Viewpoint - Altec's Q1 2025 financial report shows a mixed performance with a revenue increase but significant declines in net profit and cash flow [1][2]. Financial Performance - Altec's operating revenue for Q1 2025 was 268.51 million yuan, a year-on-year increase of 6.51% [1]. - The net profit attributable to shareholders was 12.39 million yuan, down 40.23% compared to the same period last year [1]. - The net profit after deducting non-recurring gains and losses was 10.51 million yuan, a decrease of 51.05% year-on-year [1]. - Basic earnings per share were 0.0252 yuan, reflecting a 40.14% decline from the previous year [1]. - The net cash flow from operating activities was 25.99 million yuan, down 31.60% year-on-year [1]. Profitability Metrics - The gross margin for Q1 2025 was 25.07%, a decrease of 6.62% year-on-year but an increase of 25.76% quarter-on-quarter [2]. - The net profit margin was 4.01%, down 3.55% year-on-year but up 45.93% from the previous quarter [2]. Expense Analysis - Total period expenses were 51.08 million yuan, a decrease of 0.43 million yuan compared to the same period last year [2]. - The expense ratio was 19.02%, down 2.96% year-on-year [2]. - Sales expenses increased by 2.94% year-on-year, while management expenses decreased by 29.77% [2]. - R&D expenses rose by 75.75% year-on-year, and financial expenses increased by 16.36% [2]. Leadership Compensation - Altec's chairman, Xuan Qiwu, received a salary of 1.352 million yuan in 2024, a 19.96% increase from 1.127 million yuan in the previous year [4]. Company Overview - Altec, established in May 2007 and listed in March 2020, specializes in the design of fuel and new energy vehicles and related technical services [4].