Eagle Eye Warning: Guanhao Biotech's Operating Revenue and Net Profit Diverge

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

On March 25, Guan Hao Biotech 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 was 388 million yuan, a year-on-year increase of 2.72%; net profit attributable to parent company was 24.35M yuan, a decrease of 11.2% year-on-year; non-recurring net profit attributable to parent was 26.3119 million yuan, a 33.47% increase; basic earnings per share were 0.09 yuan per share.

Since listing in June 2011, the company has paid cash dividends 6 times, with a total cash dividend of 86.6595 million yuan.

The Eagle Eye warning system for listed company financial reports performs intelligent quantitative analysis of Guan Hao Biotech’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 388 million yuan, a 2.72% increase; net profit was 14.7873 million yuan, a 10.96% decrease; net cash flow from operating activities was 71.4738 million yuan, a 44.23% increase.

From the overall performance perspective, key points to monitor:

• Discrepancy between revenue and net profit changes. During the reporting period, revenue increased by 2.72% year-on-year, while net profit decreased by 10.96%, indicating divergence between revenue and profit.

2. Profitability Dimension

During the reporting period, the company’s gross profit margin was 77.13%, down 2.93% year-on-year; net profit margin was 3.81%, down 13.32%; return on equity (weighted) was 4.38%, down 15.12%.

Focusing on operational profitability, key points include:

• Decline in gross profit margin. During the reporting period, gross profit margin was 77.13%, a decrease of 2.93% year-on-year.

• Continuous decline in net profit margin. Over the past three annual reports, net profit margins were 5.21%, 4.4%, and 3.81%, with a persistent downward trend.

From the asset side, focusing on returns, key points include:

• Average return on net assets over the past three years below 7%. During the reporting period, the weighted average return on net assets was 4.38%, with the three most recent fiscal years averaging below 7%.

• Continuous decline in return on net assets. Over the past three annual reports, the weighted average ROE was 6.16%, 5.16%, and 4.38%, with a downward trend.

• Return on invested capital below 7%. During the reporting period, the company’s return on invested capital was 4.21%, with an average below 7% over the three periods.

From customer concentration and minority shareholders perspectives, key points to monitor:

• Minority shareholders’ profit and loss are negative, while net profit attributable to parent is positive. During the reporting period, minority shareholders’ profit and loss was -9.56M yuan, and net profit attributable to parent was 20.4346 million yuan.

| Item | 20231231 | 20241231 | 20251231 | | Minority shareholders’ profit/loss (yuan) | -9.9533 million | -10.8094 million | -9.5588 million | | Net profit attributable to parent (yuan) | 31.0058 million | 27.4169 million | 24.35M |

• Procurement from the top five suppliers accounts for a large proportion. During the reporting period, the proportion of procurement from the top five suppliers was 78.68%, highlighting potential supplier dependency risks.

3. Capital Pressure and Safety Dimension

During the reporting period, the company’s asset-liability ratio was 39.52%, up 3.94% year-on-year; current ratio was 1.73, quick ratio was 1.31; total debt was 125 million yuan, with short-term debt of 21.1809 million yuan, accounting for 16.93% of total debt.

From short-term capital pressure, key points include:

• Cash ratio continues to decline. Over the past three annual reports, cash ratios were 0.93, 0.9, and 0.85, decreasing steadily.

From long-term capital pressure, key points include:

• Total debt to net assets ratio continues to rise. Over the past three annual reports, ratios were 9.34%, 23.17%, and 26.02%, showing a steady increase.

From capital management perspective, key points include:

• Interest income to monetary funds ratio less than 1.5%. During the reporting period, monetary funds were 160M yuan, short-term debt was 20 million yuan, and the average interest income to monetary funds ratio was 0.496%, below 1.5%.

• Large fluctuations in prepayment accounts. During the reporting period, prepayment was 5.89M yuan, with a change rate of 183.99% from the beginning of the period.

• Prepayment growth rate exceeds that of operating costs. During the reporting period, prepayment increased by 183.99% from the beginning, while operating costs grew by 14.38%, indicating prepayment growth outpaces operating cost growth.

From capital coordination perspective, key points include:

• Capital is relatively abundant. During the reporting period, the company’s working capital demand was -8.54M yuan, working capital was 140M yuan, and operating activities and investment-financing activities provided ample funds. The company’s cash payment capacity was 150M yuan, warranting further attention to capital efficiency.

4. Operating Efficiency Dimension

During the reporting period, the company’s accounts receivable turnover was 6.92, a 10.69% increase; inventory turnover was 1.14, up 9.9%; total asset turnover was 0.5, down 5.7%.

From long-term assets perspective, key points include:

• Total asset turnover continues to decline. Over the past three annual reports, ratios were 0.6, 0.53, and 0.5, indicating weakening asset utilization.

• Significant changes in construction in progress. During the reporting period, construction in progress was 20.2 million yuan, a 609.01% increase from the beginning.

Click on Guan Hao Biotech 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 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.

Eagle Eye Warning access: Sina Finance APP - Market - Data Center - Eagle Eye Warning or Sina Finance APP - Stock Quote Page - Financials - Eagle Eye Warning

Disclaimer: The market involves risks; investment should be cautious. This article is automatically published based on third-party databases and does not represent Sina Finance’s views. All information herein is for reference only and does not constitute personal investment advice. Please refer to official announcements for accuracy. For questions, contact biz@staff.sina.com.cn.