横店东磁首季净赚4.58亿元增近三成

Core Insights - The company, Hengdian East Magnetic, has shown a steady improvement in profitability, with a revenue of 5.22 billion yuan in Q1 2025, representing a year-on-year increase of 23.35%, and a net profit of 458 million yuan, up 29.65% year-on-year [2] - The net profit has consistently increased for nine consecutive years since 2016, growing from 323 million yuan in 2015 to 1.827 billion yuan in 2024, marking an overall increase of 4.66 times [2] - The company operates in the magnetic materials and new energy sectors, providing research, production, sales, and technical solutions, and has established a global supplier network across over 20 countries [2] Financial Performance - In 2024, the revenue from magnetic materials reached 4.578 billion yuan with a shipment of 232,000 tons, a 17% increase; the photovoltaic sector generated 11.07 billion yuan with a shipment of 17.2 GW, up 73%; and the lithium battery sector achieved 2.415 billion yuan with a shipment of 531 million units, a 56% increase [2] - Sales expenses increased to 69.25 million yuan in Q1 2025, reflecting a year-on-year growth of 20.16%, marking five consecutive quarters of rising sales expenses [3] - Operating cash flow has not shown positive growth, with a net cash flow from operating activities of 3.522 billion yuan in 2024, down 9.68%, and a further decline of 44.29% to 265 million yuan in Q1 2025 [3] Financial Structure - The company's financial structure has been improving, with financial expenses remaining negative for seven consecutive years, reaching -142 million yuan in Q1 2025, a decrease of 676.93% [3] - The asset-liability ratio stood at 55.03% at the end of Q1 2025, down 2.99 percentage points from 58.02% in the same period of 2024 [4]