DONGRUI GROUP(001201) 证券之星·2025-04-27 00:35Core Viewpoint - Dongrui Co., Ltd. reported significant revenue growth in Q1 2025, indicating improvements in profitability despite negative net profits [2][7] Business Overview - The company achieved total revenue of 494 million yuan in Q1 2025, a year-on-year increase of 76.58% [2] - The net profit attributable to shareholders was -5.56 million yuan, while the net profit excluding non-recurring items was -6.35 million yuan, both showing year-on-year increases of 93.31% and 92.39% respectively, indicating a notable improvement in profitability [2] Profitability Analysis - The gross profit margin was 18.44%, an increase of 51.26% year-on-year [3] - The net profit margin was -1.16%, reflecting a year-on-year increase of 96.08%, suggesting effective cost control measures [3] Expense Control - Total selling, administrative, and financial expenses amounted to 83.47 million yuan, with a combined expense ratio of 16.88% of revenue, a decrease of 53.01% year-on-year [4] Cash Flow and Debt Situation - The company's cash flow situation requires attention, with cash and cash equivalents at 534 million yuan, a decrease of 40.91% year-on-year [5] - Interest-bearing liabilities increased to 2.16 billion yuan, a year-on-year rise of 1.23%, with an interest-bearing asset-liability ratio of 33.38% [5] - The average operating cash flow over the past three years has been negative, and the ratio of cash to current liabilities is only 49.38%, indicating potential liquidity pressure [5] Other Key Indicators - The net asset value per share was 13.11 yuan, a decrease of 0.34% year-on-year [6] - The operating cash flow per share was 0.21 yuan, a year-on-year increase of 159.61% [6] - Earnings per share were -0.02 yuan, reflecting a year-on-year increase of 93.75% [6]