Eagle Eye Warning: Taili Technology's Operating Revenue and Net Profit Diverge

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

On March 31, Taili Technology released its 2025 annual report. The audit opinion is a standard unqualified audit opinion.

The report shows that the company’s total operating revenue for 2025 was RMB 1.044 billion, up 2.36% year over year; net profit attributable to shareholders was RMB 61.4481 million, down 29.88% year over year; non-recurring items net profit attributable to shareholders was RMB 56.2128 million, down 34.39% year over year; and basic earnings per share was RMB 0.63 per share.

Since the company went public in April 2025, it has issued cash dividends once, with a cumulative cash dividend implementation amount of RMB 27.07 million. The announcement shows that the company plans to distribute cash dividends of RMB 2.5 per every 10 shares to all shareholders (including tax).

The listed-company financial report Eagle Eye early warning system conducts intelligent quantitative analysis of Taili Technology’s 2025 annual report across four major dimensions: performance quality, profitability, capital pressure and safety, and operating efficiency.

I. Performance Quality

During the reporting period, the company’s revenue was RMB 1.044 billion, up 2.36% year over year; net profit was RMB 61.4639 million, down 29.88% year over year; and net cash flow from operating activities was RMB 81.0696 million, down 9.39% year over year.

From the overall performance standpoint, the following require particular attention:

• Non-recurring items net profit attributable to shareholders fell sharply. During the reporting period, non-recurring items net profit attributable to shareholders was RMB 0.6 billion, down significantly by 34.39% year over year.

| Item | 20231231 | 20241231 | 20251231 | | Non-recurring items net profit attributable to shareholders (RMB) | - | RMB 85.67 million | RMB 56.2128 million | | Growth rate of non-recurring items net profit attributable to shareholders | - | 6.1% | -34.39% |

• Divergence between changes in operating revenue and net profit. During the reporting period, operating revenue increased 2.36% year over year, while net profit decreased 29.88% year over year, showing a divergence between changes in operating revenue and net profit.

| Item | 20231231 | 20241231 | 20251231 | | Operating revenue (RMB) | - | RMB 1.02 billion | RMB 1.044 billion | | Net profit (RMB) | - | RMB 87.6558 million | RMB 61.4639 million | | Operating revenue growth rate | - | 22.07% | 2.36% | | Net profit growth rate | - | 3.15% | -29.88% |

Based on cash flow quality, the following require particular attention:

• Divergence between changes in operating revenue and net cash flow from operating activities. During the reporting period, operating revenue increased 2.36% year over year, while net cash flow from operating activities decreased 9.39% year over year, showing a divergence between operating revenue and net cash flow from operating activities.

| Item | 20231231 | 20241231 | 20251231 | | Operating revenue (RMB) | - | RMB 1.02 billion | RMB 1.044 billion | | Net cash flow from operating activities (RMB) | - | RMB 89.4675 million | RMB 81.0696 million | | Operating revenue growth rate | - | 22.07% | 2.36% | | Net cash flow from operating activities growth rate | - | -40.58% | -9.39% |

II. Profitability

During the reporting period, the company’s gross profit margin was 55.9%, down 2.87% year over year; net profit margin was 5.89%, down 31.5% year over year; and return on net assets (weighted) was 8.4%, down 57.47% year over year.

III. Capital Pressure and Safety

During the reporting period, the company’s asset-liability ratio was 26.28%, down 17.04% year over year; current ratio was 3.88, and quick ratio was 3.33; total debt was RMB 204 million, of which short-term debt was RMB 101 million, and short-term debt as a proportion of total debt was 49.61%.

From the perspective of capital management, the following require particular attention:

• Prepaid accounts change significantly. During the reporting period, prepaid accounts were RMB 0.2 billion, with a period-beginning-to-period-end change rate of 303.59%.

• The growth rate of prepaid accounts is higher than the growth rate of operating costs. During the reporting period, prepaid accounts grew 303.59% compared with the beginning of the period, while operating costs increased 6.34% year over year; the growth rate of prepaid accounts was higher than that of operating costs.

| Item | 20231231 | 20241231 | 20251231 | | Growth rate of prepaid accounts compared with beginning of period | - | - | 303.59% | | Operating cost growth rate | - | 27.5% | 6.34% |

• Accounts payable notes change significantly. During the reporting period, accounts payable notes were RMB 0.9 billion, with a period-beginning-to-period-end change rate of 65.91%.

IV. Operating Efficiency

During the reporting period, the company’s accounts receivable turnover ratio was 19.26, down 17.48% year over year; inventory turnover ratio was 3.91, down 7.38% year over year; and total asset turnover ratio was 1.07, down 27.99% year over year.

For long-term assets, the following require particular attention:

• Fixed assets changed significantly. During the reporting period, fixed assets were RMB 0.21 billion, up 70.52% compared with the beginning of the period.

• Other non-current assets changed significantly. During the reporting period, other non-current assets were RMB 0.4 billion, up 87.78% compared with the beginning of the period.

• Intangible assets changed significantly. During the reporting period, intangible assets were RMB 0.11 billion, up 597.37% compared with the beginning of the period.

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Sina Finance listed-company financial report Eagle Eye early warning introduction: Eagle Eye early warning is an intelligent and professional analysis system for listed-company financial reports. Through aggregating a large number of authoritative financial experts, such as accounting firms and listed companies, Eagle Eye early warning tracks and interprets the latest financial reports of listed companies across multiple dimensions, including company performance growth, earnings quality, capital pressure and safety, and operating efficiency, and uses text and images to highlight potentially existing financial risk points. It provides professional, efficient, and convenient technical solutions for financial institutions, listed companies, regulatory authorities, and others in identifying and issuing early warnings for financial risks of listed companies.

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