Eagle Eye Warning: Yutian Guanjia's Operating Revenue Declines

Sina Finance Listed Companies Research Institute | Financial Report Eye Alert

On March 31, Yu Tian Guan Jia released its 2025 annual report. The audit opinion is a standard unmodified audit opinion.

The report shows that in 2025, the company’s operating revenue was RMB 2.28 billion, down 5.28% year over year; net profit attributable to shareholders was RMB 173 million, up 1.31% year over year; non-recurring gains and losses attributable to shareholders was RMB 159 million, down 1.15% year over year; and basic earnings per share were RMB 2.0557 per share.

Since listing in February 2025, the company has paid cash dividends once, with cumulative implemented cash dividends of RMB 20.0263 million. The announcement shows that the company plans to distribute cash dividends of RMB 3.66 per 10 shares to all shareholders (including tax).

The listed company financial report eye alert system conducts intelligent quantitative analysis of Yu Tian Guan Jia’s 2025 annual report across four major dimensions: performance quality, profitability, capital pressure and safety, and operational efficiency.

I. Performance Quality

During the reporting period, the company’s operating revenue was RMB 2.28 billion, down 5.28% year over year; net profit was RMB 173 million, up 0.97% year over year; and net cash flow from operating activities was RMB 335 million, up 278.08% year over year.

From the overall performance perspective, attention should be focused on:

• Operating revenue declined. During the reporting period, operating revenue was RMB 2.28 billion, down 5.28% year over year.

| Item | 20231231 | 20241231 | 20251231 | | Operating revenue (RMB) | - | 2.407 billion | 2.28 billion | | Operating revenue growth rate | - | -3.35% | -5.28% |

• Operating revenue and net profit moved in opposite directions. During the reporting period, operating revenue fell 5.28% year over year, while net profit rose 0.97% year over year; operating revenue and net profit diverged in their changes.

| Item | 20231231 | 20241231 | 20251231 | | Operating revenue (RMB) | - | 2.407 billion | 2.28 billion | | Net profit (RMB) | - | 171 million | 173 million | | Operating revenue growth rate | - | -3.35% | -5.28% | | Net profit growth rate | - | 7.87% | 0.97% |

Based on the matching of revenue, cost, and period expenses, attention should be focused on:

• Operating revenue and taxes and surcharges moved in opposite directions. During the reporting period, operating revenue changed -5.28% year over year, while taxes and surcharges changed 10.55% year over year; operating revenue and taxes and surcharges diverged.

| Item | 20231231 | 20241231 | 20251231 | | Operating revenue (RMB) | - | 2.407 billion | 2.28 billion | | Operating revenue growth rate | - | -3.35% | -5.28% | | Tax and surcharge growth rate | - | -14.06% | 10.55% |

Considering the quality of cash flow, attention should be focused on:

• Operating revenue and net cash flow from operating activities diverged. During the reporting period, operating revenue fell 5.28% year over year, while net cash flow from operating activities rose 278.08% year over year; operating revenue and net cash flow from operating activities diverged.

| Item | 20231231 | 20241231 | 20251231 | | Operating revenue (RMB) | - | 88.566 million | 335 million | | Net cash flow from operating activities (RMB) | - | 88.566 million | 335 million | | Operating revenue growth rate | - | -3.35% | -5.28% | | Net cash flow from operating activities growth rate | - | -68.56% | 278.08% |

II. Profitability

During the reporting period, the company’s gross margin was 17.87%, down 2.14% year over year; net profit margin was 7.58%, up 6.59% year over year; and return on equity (weighted) was 12.74%, down 45.63% year over year.

Combining the company’s operating side to assess earnings, attention should be focused on:

• Sales gross margin decreased, while sales net profit margin increased. During the reporting period, the sales gross margin fell from 18.26% in the same period last year to 17.87%, and the sales net profit margin rose from 7.11% in the same period last year to 7.58%.

| Item | 20231231 | 20241231 | 20251231 | | Sales gross margin | - | 18.26% | 17.87% | | Sales net profit margin | - | 7.11% | 7.58% |

From the perspectives of customer concentration and minority shareholders, attention should be focused on:

• The top five customers account for a relatively large share of revenue. During the reporting period, the ratio of revenue from the top five customers / total sales was 71.2%, indicating excessive customer concentration.

III. Capital Pressure and Safety

During the reporting period, the company’s asset-liability ratio was 42.4%, down 33.61% year over year; the current ratio was 2.08, and the quick ratio was 1.71; total debt was RMB 13.2714 million, of which short-term debt was RMB 13.2714 million, meaning short-term debt accounted for 100% of total debt.

From the perspective of capital management and control, attention should be focused on:

• The ratio of interest income / monetary funds is less than 1.5%. During the reporting period, monetary funds were RMB 260 million, short-term debt was RMB 10 million, and the company’s average interest income / monetary funds ratio was 0.908%, lower than 1.5%.

| Item | 20231231 | 20241231 | 20251231 | | Monetary funds (RMB) | - | 125 million | 257 million | | Short-term debt (RMB) | - | 54.5263 million | 12.2714 million | | Interest income / average monetary funds | - | - | 0.91% |

• Other payables changed significantly. During the reporting period, other payables were RMB 2.7 million, with a change rate of 77.86% from the beginning of the period.

IV. Operational Efficiency

During the reporting period, the company’s accounts receivable turnover ratio was 3.76, up 4.69% year over year; inventory turnover ratio was 4.97, down 0.55% year over year; and total asset turnover ratio was 0.93, down 2.85% year over year.

For long-term assets, attention should be focused on:

• Fixed assets changed significantly. During the reporting period, fixed assets were RMB 310 million, up 37.42% from the beginning of the period.

Click Yu Tian Guan Jia’s Eye Alert to view the latest alert details and visualized financial report preview.

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