苏泊尔5年来首现负增长

Core Viewpoint - Supor, a leading kitchen small appliance company, reported a decline in net profit for the first time since 2021, despite a slight increase in revenue for 2025 [1][2]. Financial Performance - The company achieved an operating revenue of 22.772 billion yuan in 2025, representing a year-on-year growth of 1.54% [1][2]. - The net profit attributable to shareholders was 2.097 billion yuan, down 6.58% year-on-year [1][2]. - The net profit excluding non-recurring gains and losses was 1.914 billion yuan, a decrease of 7.30% compared to the previous year [1][2]. - Basic earnings per share were 2.634 yuan, reflecting a decline of 6.60% [2]. - The weighted average return on equity decreased by 2.17 percentage points to 35.10% [2][3]. Cost and Expense Management - The company implemented cost reduction and efficiency enhancement measures, resulting in a slight improvement in overall gross margin [2]. - Sales expenses increased slightly due to intensified competition in the domestic market, as the company invested in marketing resources to support sales growth [2]. - The company maintained strict control over other expenses while increasing investment in research and development to enhance product offerings [2]. Accounts Receivable and Financial Health - As of the end of the third quarter of 2025, accounts receivable rose to 3.133 billion yuan, an increase of 16.47% from the end of 2024 [4].