公司的有息负债从2024年一季度的7480.99万元减少到2025年一季度的1328.14万元，减少了82.25%，这 表明公司在降低负债方面取得了一定成效。 近期新疆火炬(603080)发布2025年一季报，证券之星财报模型分析如下： 综合评价 财务概况 应收账款与现金流 值得注意的是，本报告期新疆火炬公司的应收账款体量较大，当期应收账款占最新年报归母净利润比达 124.1%。此外，每股经营性现金流为-0.22元，同比下降796.22%，表明公司在现金流方面存在一定的压 力。 资产负债情况 近期新疆火炬(603080)发布了2025年一季报。报告显示，截至本季度末，公司营业总收入为4.67亿元， 同比上升10.63%；归母净利润为4548.46万元，同比上升24.86%；扣非净利润为4592.43万元，同比上升 26.48%。这些数据显示公司在2025年第一季度实现了较为显著的增长。 主要财务指标 毛利率：19.56%，同比下降6.18%。净利率：9.93%，同比增加7.33%。三费占营收比：6.62%，同比下 降27.79%。每股净资产：11.14元，同比增长7.63%。每股经营性现金流：-0.22元，同 ...

现金流与应收账款 每股经营性现金流为0.1元，同比增长2521.57%，显示出公司在经营活动中的现金流状况大幅改善。然 而，公司应收账款为9421.76万元，占最新年报归母净利润的比例高达202.38%，需关注应收账款的回收 情况，以确保资金链的稳定。 近期晓程科技（300139）发布2025年一季报，证券之星财报模型分析如下： 营收与利润 晓程科技在2025年一季度实现了营业总收入9073.12万元，同比增长24.77%。归母净利润为1100.7万 元，同比增长7.42%；扣非净利润为1029.87万元，同比增长26.29%。尽管营收和扣非净利润增长显著， 但归母净利润的增长相对较为缓慢。 盈利能力 公司的毛利率为62.86%，同比增长28.6%，显示出公司在成本控制方面有所改善。然而，净利率为 19.93%，同比下降19.36%，表明公司在净利润方面的表现不如预期。每股收益为0.04元，与去年同期持 平。 费用控制 三费(销售费用、管理费用、财务费用)总计为1865.52万元，占营收比例为20.56%，同比下降23.21%。 费用控制效果明显，有助于提升公司的盈利能力。 资产与负债 货币资金为4.18亿元 ...

2024年，中环环保的营业总收入达到9.57亿元，同比增长17.60%，显示出公司在业务拓展和市场占有率 上的稳步提升。然而，归属净利润却同比下降45.10%，扣非净利润也下滑了38.82%。这一反差表明， 公司在扩大业务规模的同时，盈利能力受到了严重挑战。 利润下滑的主要原因包括市场竞争加剧、环保管控趋严导致的成本上升，以及应收账款回款速度不及预 期。报告期内，公司计提了6138.49万元的信用减值损失，进一步压缩了利润空间。此外，财务费用达 到1.54亿元，同比增长18.36%，也对净利润产生了负面影响。 尽管公司在现金流管理上表现较好，经营活动产生的现金流量净额为1.8亿元，同比增长121.62%，但这 并未能完全抵消利润下滑的影响。未来，公司需要在成本控制和应收账款管理上采取更加有效的措施， 以提升盈利能力。 4月22日，中环环保（300692）发布了2024年年报。报告显示，公司实现营业总收入9.57亿元，同比增 长17.60%；归属净利润为5926.69万元，同比下降45.10%；扣非净利润为5529.26万元，同比下降 38.82%。尽管公司在营业收入上保持了增长，但净利润的大幅下滑暴露了其在成 ...

Core Viewpoint - The company has demonstrated significant growth in key financial metrics such as revenue and net profit, indicating a positive operational trend [1] Revenue Growth and Product Optimization - The company achieved a revenue of 3.362 billion yuan, a 12.70% increase from 2.983 billion yuan in the same period last year, driven by improved internal management and marketing strategies [2] - Revenue from copper-clad laminate products increased by 11.82%, while bonding sheet products saw an 18.11% rise, reflecting enhanced market competitiveness [2] Profitability Improvement - The net profit attributable to shareholders was 50.32 million yuan, a turnaround from a loss of 129.49 million yuan in the previous year, indicating a successful recovery [3] - The net profit excluding non-recurring items was 28.04 million yuan, up from a loss of 150.57 million yuan, attributed to better internal management and an increase in high-margin product sales [3] Expense Management - Sales expenses rose to 44.82 million yuan, a 6.86% increase from 41.94 million yuan, mainly due to stock incentive amortization and sales growth [4] - Management expenses surged by 55.26% to 64.85 million yuan from 41.77 million yuan, primarily due to stock incentive amortization and increased personnel costs, which may pressure future profits [4] - Financial expenses decreased to -1.09 million yuan from 1.02 million yuan, a reduction of 206.69%, positively impacting profits [4] - R&D expenses decreased by 6.51% to 170.98 million yuan from 182.88 million yuan, with a reduced proportion of R&D spending relative to revenue, indicating a shift towards production [4] Cash Flow Performance - Net cash flow from operating activities significantly increased to 325.31 million yuan from 25.93 million yuan, a growth of 1154.57%, indicating improved operational efficiency [5] - Cash outflow from investment activities decreased to -103.20 million yuan from -80.03 million yuan, reflecting a more cautious investment approach focused on core business [6] - Cash outflow from financing activities increased to -92.40 million yuan from 132.98 million yuan, a 169.48% decrease, showing a strategic adjustment in funding sources [7] Industry Risks - The company faces market competition risks due to an oversupply of low-end capacity and weak demand, leading to intense price competition [9] - Fluctuations in raw material prices, particularly for electronic copper foil, glass fiber cloth, and resin, could impact production stability and profitability [10] - The potential for increased accounts receivable due to expanded operations may pose a risk if not managed properly [11]

关于北京利尔高温材料股份有限公司 向特定对象发行股票申请文件 反馈意见的回复 大信备字[2023]第 2-00008 号 大信会计师事务所(特殊普通合伙) WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 国际大厦 22 岸 2206 邮编 100083 WUYIGE Certified Public Accountants.LLP *路 1 号 Room 2206 22/F.Xuevuan International Tower No. 1 Zhichun Road,Haidian Dist. Beijing,China,100083 传自 Fax: IXX til- Internet. +86 (10) 82327668 www.daxincpa.com.cn 关于北京利尔高温材料股份有限公司 向特定对象发行股票申请文件反馈意见的回复 大信备字[2023]第 2-00008 号 中国证券监督管理委员会、深圳证券交易所: 根据中国证券监督管理委员会出具的《中国证监会行政许可项目审查一次反馈意见通知书》 (223115号)的要求,大信会计师事务所(特殊普通合伙)(以下简称"会计 ...