Eagle Eye Warning: Gaoweida's Operating Revenue Declines

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

On March 26, Gaweida released its annual report for 2025.

The report shows that the company’s total operating revenue for the year 2025 is 1.03 billion yuan, a year-on-year decrease of 12.36%; net profit attributable to the parent company is 28.6959 million yuan, a year-on-year decrease of 8.49%; net profit attributable to the parent company after deducting non-recurring gains and losses is 26.2106 million yuan, a year-on-year decrease of 10.17%; basic earnings per share is 0.0647 yuan/share.

Since its listing in May 2015, the company has distributed cash dividends 4 times, with a total cash dividend of 45.999 million yuan.

The listed company financial report Eagle Eye Warning System conducts intelligent quantitative analysis of Gaweida’s 2025 annual report from four major dimensions: performance quality, profitability, financial pressure and safety, and operational efficiency.

I. Performance Quality Aspect

During the reporting period, the company’s revenue was 1.03 billion yuan, a year-on-year decrease of 12.36%; net profit was 28.6959 million yuan, a year-on-year decrease of 8.86%; net cash flow from operating activities was 48.7196 million yuan, a year-on-year decrease of 75.86%.

From an overall performance perspective, key points to note include:

• Decline in operating revenue. During the reporting period, operating revenue was 1.03 billion yuan, a year-on-year decrease of 12.36%.

• Continuous decline in net profit growth rate attributable to the parent company. In the last three annual reports, the year-on-year changes in net profit attributable to the parent company were 138.28%, 9.21%, and -8.49%, showing a continuous downward trend.

• Continuous decline in net profit attributable to the parent company after deducting non-recurring gains and losses. In the last three annual reports, the year-on-year changes were 154.78%, 18.23%, and -10.17%, showing a continuous downward trend.

II. Profitability Aspect

During the reporting period, the company’s gross profit margin was 20.42%, a year-on-year increase of 0.89%; net profit margin was 2.78%, a year-on-year increase of 4%; return on equity (weighted) was 4.31%, a year-on-year decrease of 9.45%.

From the operational side, key points to note include:

• Continuous growth in sales gross profit margin, continuous decline in inventory turnover rate. In the last three annual reports, sales gross profit margins were 18.51%, 20.24%, and 20.42%, showing continuous growth, while inventory turnover rates were 2.24 times, 2 times, and 1.9 times, showing a continuous decline.

From the asset side, key points to note include:

• Decline in return on equity. During the reporting period, the weighted average return on equity was 4.31%, a year-on-year decrease of 9.45%.

• Average return on equity in the last three years below 7%. During the reporting period, the weighted average return on equity was 4.31%, and the average weighted return on equity for the last three accounting years was below 7%.

• Return on invested capital below 7%. During the reporting period, the company’s return on invested capital was 4.04%, with an average value below 7% over the three reporting periods.

III. Financial Pressure and Safety Aspect

During the reporting period, the company’s debt-to-asset ratio was 45.47%, a year-on-year decrease of 11.23%; current ratio was 1.97, quick ratio was 1.25; total debt was 291 million yuan, with short-term debt being 291 million yuan, accounting for 100% of total debt.

From the perspective of short-term financial pressure, key points to note include:

• Significant increase in the ratio of short-term debt to long-term debt. During the reporting period, the short-term debt/long-term debt ratio increased significantly to 56.09.

From the perspective of financial management, key points to note include:

• The ratio of cash and cash equivalents to total assets continues to grow, and the ratio of total debt to total liabilities continues to grow. In the last three annual reports, the ratios were 22.47%, 32.14%, and 33.43% for cash and cash equivalents to total assets, and 46.77%, 47.8%, and 51.29% for total debt to total liabilities, both showing an upward trend, alerting to the high trend of both deposits and loans.

• Interest income/cash and cash equivalents ratio less than 1.5%. During the reporting period, cash and cash equivalents were 420 million yuan, short-term debt was 290 million yuan, and the average ratio of interest income to cash and cash equivalents was 0.286%, below 1.5%.

• Total debt/total liabilities ratio greater than 20%, and interest expense/net profit ratio greater than 30%. During the reporting period, the total debt/total liabilities ratio was 51.29%, and interest expenses accounted for 37.42% of net profit, indicating a significant impact of interest expenses on the company’s operating performance.

IV. Operational Efficiency Aspect

During the reporting period, the company’s accounts receivable turnover rate was 4.03, a year-on-year increase of 4.79%; inventory turnover rate was 1.9, a year-on-year decrease of 5.05%; total asset turnover rate was 0.8, a year-on-year decrease of 8.67%.

From the perspective of operating assets, key points to note include:

• Continuous decline in inventory turnover rate. In the last three annual reports, inventory turnover rates were 2.24, 2, and 1.9, indicating weakening inventory turnover ability.

From the perspective of long-term assets, key points to note include:

• Continuous decline in total asset turnover rate. In the last three annual reports, total asset turnover rates were 1.03, 0.87, and 0.8, indicating weakening total asset turnover ability.

• Significant changes in intangible assets. During the reporting period, intangible assets were 670,000 yuan, an increase of 68.89% compared to the beginning of the period.

From the perspective of operating expenses, key points to note include:

• Continuous growth in the ratio of selling expenses to operating revenue. In the last three annual reports, the ratios were 5.37%, 5.51%, and 5.59%, showing continuous growth.

Click on Gaweida Eagle Eye Warning to view the latest warning details and visualized financial report preview.

Introduction to the Sina Finance Listed Company Financial Report Eagle Eye Warning: The listed company financial report Eagle Eye Warning is an intelligent professional analysis system for listed company financial reports. Eagle Eye Warning tracks and interprets the latest financial reports of listed companies from multiple dimensions, including company performance growth, earnings quality, financial pressure and safety, and operational efficiency, through a large number of authoritative financial experts from accounting firms and listed companies, and alerts potential financial risk points in textual and graphical forms. It provides professional, efficient, and convenient technical solutions for financial institutions, listed companies, regulatory departments, and others to identify and warn of financial risks in listed companies.

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Editor: Xiao Lang Quick Report