Crystal-Optech(002273) 证券之星·2025-04-25 22:50Core Viewpoint - Water Crystal Optoelectronics (002273) reported strong financial performance for Q1 2025, with significant year-on-year increases in revenue and net profit, indicating improved profitability and operational efficiency [1] Financial Performance - Total revenue for Q1 2025 reached 1.482 billion yuan, a 10.2% increase compared to Q1 2024 [1] - Net profit attributable to shareholders was 221 million yuan, reflecting a 23.67% year-on-year growth [1] - Gross margin improved to 27.95%, up 16.45% year-on-year, while net margin increased to 15.11%, a 9.54% rise [1] - Total expenses (selling, administrative, and financial) amounted to 72.48 million yuan, accounting for 4.89% of revenue, a slight decrease of 0.52% [1] - Earnings per share (EPS) rose to 0.16 yuan, a 23.08% increase from the previous year [1] Asset and Liability Management - Cash and cash equivalents decreased to 1.458 billion yuan, a decline of 43.45% year-on-year [1] - Accounts receivable increased to 1.062 billion yuan, a 5.61% rise [1] - Interest-bearing debt decreased to 118 million yuan, down 14.57% [1] Market Position and Strategy - The company has a Return on Invested Capital (ROIC) of 10.62%, indicating a stable capital return [3] - The net profit margin for the previous year was 16.63%, suggesting high added value in products or services [3] - The company has maintained a financing and dividend ratio of 0.47, with total financing of 4.266 billion yuan and total dividends of 2.011 billion yuan since its listing [3] Analyst Expectations - Analysts project that the company's performance for 2025 will reach 1.273 billion yuan, with an average EPS forecast of 0.92 yuan [3] Fund Holdings - The largest fund holding Water Crystal Optoelectronics is Dongwu Mobile Internet Mixed A, with a scale of 2.279 billion yuan and a recent net value increase of 1.72% [4] - Other funds have shown varied changes in their holdings, with some increasing their positions in the company [4] Strategic Outlook - The company emphasizes a commitment to its strategic principles despite uncertainties in tariff policies, focusing on globalization and technological collaboration [5] - The management believes in maintaining a strong cash flow and risk-averse operational style to enhance resilience against market fluctuations [5] - Future plans include accelerating the establishment of operational centers in Singapore and Vietnam, while continuing to strengthen internal capabilities [5]