Eagle Eye Warning: Jiuhua Tourism Sales Gross Profit Margin Declines

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

On March 25th, Jiuhua Tourism released its 2025 annual report.

The report shows that the company’s total operating revenue for 2025 is 879 million yuan, a year-on-year increase of 14.93%; net profit attributable to the parent company is 213 million yuan, up 14.42% year-on-year; non-recurring net profit attributable to the parent is 205 million yuan, up 16.42% year-on-year; basic earnings per share are 1.92 yuan/share.

Since its listing in March 2015, the company has paid cash dividends 10 times, with a total cash dividend of 301 million yuan.

The Listed Company Financial Report Eagle Eye Warning System conducts intelligent quantitative analysis of Jiuhua Tourism’s 2025 annual report from four major dimensions: performance quality, profitability, capital pressure and safety, and operational efficiency.

1. Performance Quality Dimension

During the reporting period, the company’s revenue was 879 million yuan, up 14.93% year-on-year; net profit was 213 million yuan, up 14.42%; net cash flow from operating activities was 312 million yuan, up 19.06%.

2. Profitability Dimension

During the reporting period, the company’s gross profit margin was 49.88%, a decrease of 0.66% year-on-year; net profit margin was 24.22%, down 0.45%; return on equity (weighted) was 13.55%, an increase of 6.86%.

Considering company operations and returns, key points to monitor:

• Decline in gross profit margin. During the reporting period, the gross profit margin was 49.88%, down 0.66% year-on-year.

3. Capital Pressure and Safety Dimension

During the reporting period, the company’s asset-liability ratio was 15.37%, down 16.6% year-on-year; current ratio was 2.49, quick ratio was 2.47; total debt was 548.8k yuan, with short-term debt also 548.8k yuan, accounting for 100% of total debt.

From short-term capital pressure perspective, key points to monitor:

• Significant increase in short-term to long-term debt ratio. During the reporting period, short-term debt / long-term debt increased sharply to 0.04.

From capital management perspective, key points to monitor:

• Growth in the ratio of monetary funds to total assets, and in the ratio of total debt to total liabilities. Over the past three annual reports, the ratios of monetary funds to total assets were 9.85%, 11.04%, and 11.62%; total debt to total liabilities were 0.02%, 4.5%, and 4.67%. Both show upward trends, warranting caution against high debt and high cash levels simultaneously.

• Interest income / monetary funds ratio less than 1.5%. During the reporting period, monetary funds were 230 million yuan, short-term debt was 548.8k yuan, and the average interest income / monetary funds ratio was 0.637%, below 1.5%.

• Growth rate of prepayment accounts exceeds that of operating costs. During the reporting period, prepayment accounts increased by 24.66% from the beginning of the period, while operating costs grew by 15.69%, indicating prepayment growth outpacing operating costs.

| Item | 20231231 | 20241231 | 20251231 | | Prepayment accounts growth from beginning | 197.64% | -28.68% | 24.66% | | Operating costs growth | 49.25% | 4.4% | 15.69% |

4. Operational Efficiency Dimension

During the reporting period, the company’s accounts receivable turnover rate was 276.56, up 15.9%; inventory turnover rate was 69.33, up 35.59%; total asset turnover was 0.46, up 10.69%.

From long-term assets perspective, key points to monitor:

• Significant fluctuations in construction-in-progress. During the reporting period, construction-in-progress was 100 million yuan, a 1738.75% increase from the beginning of the period.

Click Jiuhua Tourism 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 platform 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 performance growth, earnings quality, capital pressure and safety, and operational efficiency, providing visual alerts 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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