According to the public data compiled by Securities Star, Xidamen (605155) recently released its 2025 annual report. As of the end of this reporting period, the company's total operating income was 882 million yuan, a year-on-year increase of 7.98%, and the net profit attributable to the parent company was 112 million yuan, a year-on-year decrease of 8.66%. Looking at single quarter data, the total operating income in the fourth quarter was 231 million yuan, a year-on-year increase of 1.64%, and the net profit attributable to the parent company in the fourth quarter was 23.7427 million yuan, a year-on-year decrease of 32.81%. During this reporting period, the proportion of Ximen Gate's three fees increased significantly, and the sum of financial expenses, sales expenses and administrative expenses accounted for a year-on-year increase of 33.11% in total revenue.
The data was lower than the expectations of most analysts, who had previously expected a net profit of about 159 million yuan in 2025.
The performance of various data indicators released in this financial report was average. Among them, the gross profit rate was 44.11%, a year-on-year increase of 5.27%, the net profit rate was 12.66%, a year-on-year decrease of 15.41%, sales expenses, management expenses, and financial expenses totaled 236 million yuan, and the three fees accounted for 26. 73%, a year-on-year increase of 33.11%. Net assets per share were 7.04 yuan, a year-on-year increase of 5.65%. Operating cash flow per share was 1.03 yuan, a year-on-year increase of 38.2%. Earnings per share was 0.6 yuan, a year-on-year decrease of 7.69%.
The reasons for significant changes in financial items in the financial statements are explained as follows:
The change in sales expenses was 39.5%. The reason: the company increased its investment in e-commerce platforms. The change in administrative expenses was -9.14%, due to the decrease in share-based payment expenses. The change in R&D expenses was -3.76%, due to the decrease in share-based payment expenses. The change in financial expenses was 95.59%, due to the decrease in exchange income and interest income. The change in trading financial assets was 36.46%, due to the purchase of financial products. The change in notes receivable is -100.0%, reason: used to pay for goods. The change in other current assets was 54.36%, due to the transfer of input tax to be deducted from the value-added tax. The change in other non-current assets was 79.35%, due to the increase in time deposit certificates. The change in right-of-use assets was -34.62%, due to the decrease in book value caused by amortization. The change in employee remuneration payable was 40.37%. The reason was: proactive application for social security deferment. The change in taxes payable was -39.12%, due to the increase in prepaid corporate income tax. The change in other payables was 154.08%, due to the increase in restricted stock repurchase obligations. The change in lease liabilities was -48.81%, due to the payment of rent. The change in operating income was 7.98%, due to the increase in sales orders for the company's finished products. The change in operating costs was 3.88%, due to the year-on-year increase in operating income. The net cash flow generated from operating activities changed by 38.02%. The reason: the company's sales revenue of finished products increased. The net cash flow generated from investing activities changed by 50.35%, due to the increase in the purchase of financial products. The net cash flow generated from financing activities changed by 57.15%. The reason is: the implementation of the restricted stock incentive plan in this period.
Securities Star Price Investment Circle Financial Report Analysis Tool shows:
The fund with the largest holdings of Xidamen is ICBC Juxiang Mixed A, with a current scale of 143 million yuan and a latest net value of 1.3533 (March 19), down 1.16% from the previous trading day and up 27.05% in the past year. The current fund manager of this fund is Jiao Wenlong.
The above content is compiled by Securities Star based on public information and generated by an AI algorithm (Network Information No. 310104345710301240019) and does not constitute investment advice.
