公司摊薄每股收益为-0.03元，在已披露的同业公司中排名第48，较去年同报告期摊薄每股收益减少0.08 元，同比较去年同期下降160.00%。 公司最新总资产周转率为0.13次，较去年同期总资产周转率减少0.02次，同比较去年同期下降15.93%。 最新存货周转率为1.74次。 公司股东户数为9411户，前十大股东持股数量为4862.13万股，占总股本比例为70.79%，前十大股东持 股情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 张伟 | 48.34% | | 2 | 上海祥禾涌原股权投资合伙企业(有限合伙) | 9.91% | | 4 | 王健 上海泷新私募投资基金合伙企业(有限合伙) | 4.08% 2.23% | | 5 | 深圳市南山区涌泉私募创业投资基金合伙企业(有限合伙) | 2.23% | | ଚ | 上海涌月创业投资合伙企业(有限合伙) | 1.18% | | 7 | 叶静 | 0.99% | | 8 | 吴莉莉 | 0.64% | | 9 | 南京翔睿管理咨询中心(有限合伙) | 0.62% | | 10 | 霍凤艳 | 0.58 ...

Core Insights - The company reported a total revenue of 72.23 million yuan for Q1 2025, a decrease of 11.46 million yuan compared to the same period last year, representing a year-on-year decline of 13.69% [1] - The net profit attributable to shareholders was -0.13 million yuan, a decrease of 0.68 million yuan year-on-year, reflecting a significant decline of 123.77% [1] - The latest gross profit margin is 17.94%, down 4.65 percentage points from the previous quarter and down 3.69 percentage points year-on-year [2] Financial Performance - Operating cash flow was 28.30 million yuan [1] - The latest return on equity (ROE) is -0.02%, a decrease of 0.10 percentage points year-on-year [2] - The diluted earnings per share is -0.00 yuan, which is essentially flat compared to the same period last year but shows a decline of 125.00% year-on-year [2] Efficiency Metrics - The total asset turnover ratio is 0.07 times, unchanged from the previous year [2] - The inventory turnover ratio is 0.42 times, a decrease of 0.15 times year-on-year, representing a decline of 26.22% [2] Shareholder Information - The number of shareholders is 65,200, with the top ten shareholders holding 433 million shares, accounting for 33.64% of the total share capital [2] - The largest shareholder is Wu Jianlong, holding 28.7 million shares [2] Leverage - The latest debt-to-asset ratio is 16.68% [3]

视源股份（002841.SZ）2024 年年报及 2025 年一季报点评 Q1 收入稳增，毛利率环比企稳 2025 年 04 月 27 日 ➢ 事件：2025 年 04 月 23 日，公司发布 2024 年年报和 2025 年一季度业绩报告， 2024 年公司实现营收 224.01 亿元，同比增长 11.05%；归母净利润 9.71 亿元，同比下 降 29.13%；扣非归母净利润 8.37 亿元，同比下降 27.94%；拟现金分红总额 4.72 亿元， 分红率达 48.57%，提升 5.7pct。25Q1 营收 50.05 亿元，同比增长 11.35%；归母净利 润 1.62 亿元，同比下降 9.23%；扣非归母净利润为 1.04 亿元，同比下降 26.63%。 分析师 马天诣 执业证书： S0100521100003 邮箱： matianyi@mszq.com 分析师 范宇 执业证书： S0100525030002 邮箱： fanyu@mszq.com 相关研究 ➢ 24 年收入增速稳健，家用控制器及海外业务引领成长。分产品看，24 年 1）智能控 制部件营收达 102.74 亿元，同比增长 20.37%， ...

Financial Overview - The company reported a total operating revenue of 96.6553 million yuan for Q1 2025, an increase of 18.46% year-on-year [1][2] - The net profit attributable to the parent company was 12.7091 million yuan, a decrease of 8.7% year-on-year [1][2] - The net profit excluding non-recurring items was 11.0729 million yuan, an increase of 10.1% year-on-year [1][2] Accounts Receivable and Cash Flow - The accounts receivable was significantly high, with accounts receivable to net profit ratio reaching 579.24% [4] - The operating cash flow per share was 0.12 yuan, showing a year-on-year increase of 215.71%, indicating improvement in cash flow [4] Debt Servicing Ability and Financing Dividends - The company has a healthy cash position with monetary funds amounting to 150 million yuan, a year-on-year increase of 95.37% [5] - Interest-bearing liabilities were 1.8256 million yuan, a significant decrease of 95.25% year-on-year [5] - Cumulative financing since listing totaled 651 million yuan, with cumulative dividends amounting to 44.16 million yuan, resulting in a dividend financing ratio of 0.07 [5] Business Model and Capital Expenditure - The company's performance is primarily driven by capital expenditure and equity financing [6] - The average operating cash flow over the past three years relative to current liabilities was only 13.81%, suggesting a need for attention to cash flow conditions [6] Key Financial Metrics - Gross margin was 30.03%, a decrease of 11.79% year-on-year [7] - Net margin was 13.86%, a decrease of 17.67% year-on-year [7] - The ratio of operating expenses to revenue was 9.22%, a decrease of 41.78% year-on-year [7] - Earnings per share was 0.09 yuan, a decrease of 8.33% year-on-year [7]

Financial Overview - Changan Automobile reported a total operating revenue of 34.161 billion yuan in Q1 2025, a year-on-year decrease of 7.73% [1] - The net profit attributable to shareholders reached 1.353 billion yuan, an increase of 16.81% year-on-year [1] - The net profit after deducting non-recurring gains and losses surged to 783 million yuan, with a year-on-year growth rate of 601.31% [1] Main Financial Indicators - The report did not provide detailed breakdowns of the main revenue composition, but overall, the decline in main revenue may impact the company's future profitability [3] Financial Analysis - The Return on Invested Capital (ROIC) for the previous year was 6.47%, indicating a generally average capital return rate [4] - The net profit margin was 3.82%, suggesting that the added value of the company's products or services is not high after considering all costs [4] Debt Servicing Ability - The company's cash assets are healthy, but cash funds decreased from 70.068 billion yuan to 60.129 billion yuan, a decline of 14.18% [5] - Interest-bearing liabilities increased from 2.154 billion yuan to 3.62 billion yuan, an increase of 68.07%, which may exert pressure on the company's future debt servicing ability [5] Financing and Dividends - Since its listing, Changan Automobile has accumulated a total financing amount of 13.371 billion yuan and total dividends of 21.185 billion yuan, resulting in a dividend financing ratio of 1.58, indicating a strong emphasis on shareholder returns [6] Business Model - The company's performance primarily relies on research and development as well as marketing efforts, necessitating further investigation into the effectiveness of these drivers to assess their sustainability [7] Cash Flow Situation - The company's cash flow situation warrants attention, with the ratio of cash funds to current liabilities at only 84.92% and the average operating cash flow over the past three years to current liabilities ratio at 14.26%, indicating potential risks in cash flow management [8] - Overall, while Changan Automobile achieved a growth in net profit in Q1 2025, it faces challenges in main revenue and cash flow, necessitating ongoing monitoring of its future strategies and market performance [8] Key Financial Ratios - Gross margin was 13.86%, a year-on-year increase of 8.43% [9] - Net profit margin was 3.56%, a year-on-year increase of 53.98% [9] - The ratio of operating expenses to revenue was 4.79%, a year-on-year decrease of 28.89% [9] - Earnings per share (EPS) was 0.14 yuan, a year-on-year increase of 16.67% [9] - The per-share operating cash flow was -0.35 yuan, a year-on-year decrease of 166.74% [9] - The per-share net asset value was 7.88 yuan, a year-on-year increase of 6.77% [9]

Core Insights - The company reported a slight decline in revenue but a significant drop in net profit, while cash flow from operating activities showed substantial growth [1][2][4] Financial Performance - Revenue for 2024 was approximately 2.71 billion yuan, a decrease of 2.17% from 2023's 2.77 billion yuan. Manufacturing revenue increased by 3.33% to about 2.14 billion yuan, while service revenue fell by 17.90% to approximately 535.80 million yuan, impacted by reduced demand in the infrastructure sector [2] - Net profit attributable to shareholders was approximately 172.26 million yuan, down 37.27% from 2023's 274.62 million yuan, primarily due to declining profits in inspection and testing services and losses in the lithium battery sector [2] - Basic earnings per share decreased by 37.63% to 0.2272 yuan, reflecting the drop in net profit [2] Cost Management - Total expenses for 2024 were approximately 349.10 million yuan, down from 388.75 million yuan in 2023. Sales expenses decreased by 2.06%, management expenses by 11.71%, and R&D expenses by 9.29% [3] - The company maintained a research and development investment of approximately 1.33 billion yuan, with an R&D intensity of 4.92%, focusing on projects to enhance product competitiveness [3] Cash Flow Analysis - The net increase in cash and cash equivalents was -9.50 million yuan, a significant decrease from 444.59 million yuan in 2023, influenced by changes in operating, investing, and financing activities [4] - Cash flow from operating activities was approximately 320.17 million yuan, up 142.47% year-on-year, indicating improved cash collection capabilities [4] - Cash flow from investing activities was -89.03 million yuan, a decrease of 137.58%, reflecting increased payments for fixed asset construction [4] - Cash flow from financing activities was -240.91 million yuan, a decrease of 415.50%, indicating a focus on debt repayment and prudent financial management [4] Management Compensation - The chairman received a pre-tax compensation of approximately 989,800 yuan, while the general manager received about 990,900 yuan. Compensation for vice presidents varied, with one receiving 846,400 yuan and another 784,700 yuan, linked to their responsibilities and performance [5]

2025年4月26日，*ST东晶(002199.SZ)发布2025年一季报。 公司截至2025年3月31日，*ST东晶营业总收入为5075.90万元，在已披露的同业公司中排名第36。截至 2025年3月31日，*ST东晶归母净利润为-1472.33万元，在已披露的同业公司中排名第35。截至2025年3 月31日，*ST东晶经营活动现金净流入为-439.81万元，在已披露的同业公司中排名第27，较去年同报告 期经营活动现金净流入减少644.82万元，同比较去年同期下降314.52%。 公司股东户数为2.22万户，前十大股东持股数量为1.19亿股，占总股本比例为49.01%，前十大股东持股 情况如下： 公司截至2025年3月31日，*ST东晶最新资产负债率为54.92%，在已披露的同业公司中排名第28，较上 季度资产负债率增加1.93个百分点，较去年同期资产负债率增加11.10个百分点。 | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 宁波梅山保税港区蓝海投控投资管理中心(有限合伙) | 10.02% | | N | 华金证券 东吴证券尊选1号FOF单一资产管理计划- ...

前十大流通股东累计持有： 9833.41万股，累计占流通股比： 50.5%，较上期变化： 114.21万股。 | 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 南京迪威尔实业有限公司 | 5025.00 | 25.81 | 不变 | | 李跃玲 | 1450.00 | 7.45 | 不变 | | 诺安先锋混合A | 878.88 | 4.51 | 不变 | | 张洪 | 610.00 | 3.13 | 不变 | | 诺安基金-建设银行-中国人寿（601628）-中国人寿委托诺 | | | | | 安基金股票型组合 | 434.08 | 2.23 | 101.48 | | 诺安优选回报混合 | 387.60 | 1.99 | 不变 | | 朱军 | 266.70 | 1.37 | 新进 | | 新理益集团有限公司 | 262.90 | 1.35 | 新进 | | 南京南迪威尔企业管理咨询有限公司 | 261.75 | 1.34 | 不变 | | 解东泰 | 256.50 | 1.32 | 20.99 ...

股民朋友们，是不是总遇到这种崩溃时刻: 年报看某公司利润高、营收涨, 冲进去就被套! 这种现象背后往往暗藏多重玄机。上一篇文章 为您初步走进了预期差的秘密:只看业绩,等于闭 着眼睛炒股! TV FRIES VII/ 每只有活用用 和营收数据吗? 盈利质量检测为低进 »年报季 (二) 本篇我们深挖业绩本身:业绩只看利润和营 收,同样等于闭着眼睛炒股!利润和营收只是表 象,盈利质量才是决定公司价值的核心，让我们继 续为您揭开年报迷雾,建立更立体的投资视角。 业绩只看利润和营收 等于闭着眼炒股! 看增长逻辑: 利润与收入的"速度 竟赛" 藏真相 · 情景:某股民看到某公司净利润同比涨80%, 果断买入,却不知收入仅增5%。后来才发 现,利润靠卖资产撑着,主业早走下坡路,最 后股价暴跌。 · 深度分析:收入是利润的"根基",正常情况 下,收入增长应带动利润协同增长。若净利润 增幅远高于收入,需警惕"非经常性收益"科目 的注水。非经常性收益如资产出售、补贴等 等,往往不可持续,无法支撑长期盈利。反 之，若利润增速跑输收入，可能是成本费用失 控,或行业竞争加剧,侵蚀利润空间。健康的 盈利结构,应是核心业务贡献主要收入和利 ...

一、主要会计数据和财务指标 | 名称 持有数量(万股) | | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 上海新天智药生物技术有限公司 | 7776.37 | 32.57 | 不变 | | 张全槐 | 997.35 | 4.18 | 不变 | | 上海国盛资本管理有限公司-上海国盛海通股权投资基金 | | | | | 合伙企业(有限合伙) | 242.35 | 1.01 | 不变 | | 贵阳开元生物资源开发有限公司 | 166.97 | 0.70 | 不变 | | 王金华 | 154.93 | 0.65 | -2.82 | | 上海银叶投资有限公司-银叶-攻玉主题精选2期私募证券 投资基金 | 150.85 | 0.63 | 不变 | | 马晟 | 107.50 | 0.45 | 新进 | | 博道远航混合A | 104.91 | 0.44 | 新进 | | 颜之华 | 98.90 | 0.41 | 14.34 | | 蔡强 | 96.23 | 0.40 | 新进 | | 较上个报告期退出前十大股东有 | | | | | 王 ...