Eagle Eye Warning: Shuanglin Co., Ltd.'s gross profit margin from sales increases significantly

Sina Finance Listed Company Research Institute | Financial Report Eagle Eye Warning

On March 25, Shuanglin Co., Ltd. released its 2025 annual report, with an audit opinion of standard unqualified audit opinion.

The report shows that the company’s total operating revenue for 2025 is 5.48B yuan, an increase of 11.67% year-on-year; net profit attributable to parent company is 503 million yuan, up 1.25%; net profit after deducting non-recurring gains and losses attributable to parent is 446 million yuan, up 36.63%; basic earnings per share are 0.89 yuan/share.

Since listing in July 2010, the company has paid cash dividends 12 times, with a total cash dividend of 766 million yuan. The announcement states that the company plans to distribute a cash dividend of 1 yuan (tax included) for every 10 shares to all shareholders.

The listed company financial report Eagle Eye warning system conducts intelligent quantitative analysis of Shuanglin Co., Ltd.'s 2025 annual report from four dimensions: performance quality, profitability, capital pressure and safety, and operational efficiency.

1. Performance Quality Dimension

During the reporting period, the company’s revenue was 5.48B yuan, an increase of 11.67%; net profit was 503 million yuan, an increase of 1.13%; net cash flow from operating activities was 781 million yuan, up 16.44%.

2. Profitability Dimension

During the reporting period, the company’s gross profit margin was 20.94%, an increase of 13.25%; net profit margin was 9.18%, a decrease of 9.44%; return on equity (weighted) was 17.23%, a decrease of 15.75%.

Considering the company’s operational side, the focus should be on:

• Significant increase in gross profit margin. During the reporting period, gross profit margin was 20.94%, a substantial increase of 13.25% year-on-year.

• Growth in gross profit margin, decline in net sales profit margin. During the reporting period, gross profit margin increased from 18.49% last year to 20.94%, while net profit margin decreased from 10.13% last year to 9.18%.

Considering the company’s asset side, the focus should be on:

• Decline in return on net assets. During the reporting period, the weighted average return on net assets was 17.23%, down 15.75% year-on-year.

3. Capital Pressure and Safety Dimension

During the reporting period, the company’s asset-liability ratio was 54.06%, down 6.56% year-on-year; current ratio was 1.2; quick ratio was 0.92; total debt was 1.5B yuan, with short-term debt of 1.5B yuan, accounting for 100% of total debt.

From short-term capital pressure, the focus should be on:

• Significant increase in short-term to long-term debt ratio. During the reporting period, the short-term debt / long-term debt ratio increased sharply to 78.07.

• Cash ratio below 0.25. During the reporting period, the cash ratio was 0.21, below 0.25.

From the perspective of fund management, the focus should be on:

• Interest income / monetary funds ratio less than 1.5%. During the reporting period, monetary funds were 730 million yuan, short-term debt was 810 million yuan, and the average interest income / monetary funds ratio was 1.13%, below 1.5%.

• Large fluctuation in prepayment accounts. During the reporting period, prepayment accounts were 30 million yuan, with a change rate of 104.83% from the beginning of the period.

• Prepayment growth rate higher than operating cost growth rate. During the reporting period, prepayment increased by 104.83% from the beginning, while operating costs grew by 8.32% year-on-year, indicating prepayment growth outpaced operating cost growth.

• Significant change in other payables. During the reporting period, other payables were 270 million yuan, with a change rate of 206.47% from the beginning.

From the perspective of fund coordination, the focus should be on:

• Funds are coordinated but with payment difficulties. During the reporting period, operating capital was 710 million yuan, with a demand of 1.22 billion yuan; the cash payment capacity was -510 million yuan.

4. Operational Efficiency Dimension

During the reporting period, the company’s accounts receivable turnover was 3.94, up 6.36%; inventory turnover was 4.28, up 9.23%; total asset turnover was 0.83, up 2.7%.

From long-term assets perspective, the focus should be on:

• Significant changes in construction-in-progress. During the period, construction-in-progress was 160 million yuan, an increase of 78.3% from the beginning.

• Long-term deferred expenses changed significantly. During the period, long-term deferred expenses were 1.22B yuan, up 36.32% from the beginning.

• Other non-current assets changed significantly. During the period, other non-current assets were 44.2847 million yuan, an increase of 56.03% from the beginning.

From the three expenses perspective, the focus should be on:

• Selling expenses growth exceeds 20%. During the period, selling expenses were 40M yuan, up 31.25%.

Click on Shuanglin Co., Ltd. Eagle Eye Warning to view the latest warning details and visualized financial report preview.

Sina Finance Listed Company Financial Report Eagle Eye Warning Introduction: The Eagle Eye Warning system is an intelligent professional analysis system for listed company financial reports. It gathers authoritative financial experts from accounting firms and listed companies to track and interpret the latest financial reports from multiple dimensions such as company performance growth, earnings quality, capital pressure and safety, and operational efficiency, providing visual prompts for potential financial risks. It offers professional, efficient, and convenient technical solutions for financial risk identification and early warning for financial institutions, listed companies, and regulatory authorities.

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