Core Viewpoint - Huangshan Gujie (301581), a company listed on the ChiNext board for just over a year, has projected a significant decline in net profit for 2025, despite expected revenue growth, indicating a challenging financial outlook for the company [1][2]. Financial Performance - The company expects a net profit attributable to shareholders of 51 million to 61 million yuan for 2025, representing a year-on-year decline of 45.50% to 54.43% [1][2]. - The net profit after deducting non-recurring gains and losses is projected to be between 46 million and 55 million yuan, reflecting a decrease of 46.21% to 55.01% compared to the previous year [1][2]. - In the first three quarters of 2025, the company reported a revenue of 581 million yuan, a year-on-year increase of 20.42%, but the net profit was only 50.05 million yuan, down 44.60% [3]. - The net cash flow from operating activities for the first three quarters of 2025 was 12.96 million yuan, a sharp decline of 81.81% year-on-year, indicating deteriorating cash generation ability [3]. - The gross margin for the first three quarters of 2025 was 14.25%, a decrease of 10.74 percentage points from the previous year [3]. - The weighted average return on equity fell to 4.95%, down 14.07 percentage points year-on-year, and earnings per share dropped by 58.28% to 0.63 yuan [3]. Market Response - Since its listing, Huangshan Gujie has experienced a cumulative stock price decline of approximately 36%, with the latest share price at 49.07 yuan and a total market capitalization of 3.926 billion yuan [4]. - Investors have raised concerns regarding the continuous decline in stock price and have inquired about potential measures to boost shareholder confidence, such as agreements to restrict major shareholders from selling shares if performance targets are not met [4]. - The company has committed to reminding shareholders of their obligations regarding share sales and aims to enhance its core competitiveness and operational quality to improve long-term investment value [4].
上市首年业绩“变脸”！黄山谷捷遭遇“增收不增利”困境