研究对象: 1274.HK

02_财务数据

口径说明

项目	说明
研究对象	1274.HK [S1]
公司名称	iMotion Automotive Technology (Suzhou) Co., Ltd. Class H [S1]
报表币种	HKD [S1]
主财务口径	收入、毛利、经营利润、净利润、资产、债务、权益、经营现金流和自由现金流采用本步骤预取的 Financial Modeling Prep 数据；其中 2025 [S1]、2024 [S1]、2023 [S1]、2022 [S1]、2021 [S1] 的收入、毛利、经营利润、净利润、资产、债务、权益、经营现金流和自由现金流与 TipRanks 财务页列示的 HKD 口径交叉一致 [S1]
比率补充口径	FMP 预取未给出的 ROA、Current Ratio、Quick Ratio、Interest Coverage 等，用公开统计页补充；不同平台的 TTM 口径可能存在更新时间、汇率和归属利润口径差异 [S2][S3]

收入、净利润、毛利率、净利率趋势

年度	Revenue	Gross profit	Net income	毛利率	净利率	Revenue YoY	Net income YoY	趋势判断
2025 [S1]	HK.11B [S1]	HK6.95M [S1]	HK$-450.98M [S1]	1.53% [自测算: 16.95M [S1] / 1.11B [S1]]	40.63% [自测算: -450.98M [S1] / 1.11B [S1]]	16.54% [自测算: (1.11B [S1] - 1.33B [S1]) / 1.33B [S1]]	56.41% [自测算: (-450.98M [S1] - -288.34M [S1]) / 288.34M [S1]]	收入下滑、亏损扩大、毛利率降至低个位数 [自测算]
2024 [S1]	HK.33B [S1]	HK$96.65M [S1]	HK$-288.34M [S1]	7.27% [自测算: 96.65M [S1] / 1.33B [S1]]	21.68% [自测算: -288.34M [S1] / 1.33B [S1]]	0.75% [自测算: (1.33B [S1] - 1.34B [S1]) / 1.34B [S1]]	33.74% [自测算: (-288.34M [S1] - -215.59M [S1]) / 215.59M [S1]]	收入基本持平但亏损扩大 [自测算]
2023 [S1]	HK.34B [S1]	HK33.06M [S1]	HK$-215.59M [S1]	9.93% [自测算: 133.06M [S1] / 1.34B [S1]]	16.09% [自测算: -215.59M [S1] / 1.34B [S1]]	10.67% [自测算: (1.34B [S1] - 1.50B [S1]) / 1.50B [S1]]	45.85% [自测算: (-215.59M [S1] - -398.14M [S1]) / 398.14M [S1]]	亏损较 2022 [S1] 收窄，但仍未盈利 [自测算]

ROE / ROA / ROIC 分析

指标	1274.HK 数值	计算或来源	解读
2025 [S1] 平均权益 ROE	46.83% [自测算]	450.98M [S1] / ((965.09M [S1] + 960.88M [S1]) / 2)	亏损对权益回报形成明显拖累 [自测算]
2025 [S1] 平均资产 ROA	25.12% [自测算]	450.98M [S1] / ((1.93B [S1] + 1.66B [S1]) / 2)	资产基础未能转化为正收益 [自测算]
2024 [S1] 平均权益 ROE	26.20% [自测算]	288.34M [S1] / ((960.88M [S1] + 1.24B [S1]) / 2)	股东权益回报连续为负 [自测算]
2024 [S1] 平均资产 ROA	16.43% [自测算]	288.34M [S1] / ((1.66B [S1] + 1.85B [S1]) / 2)	资产回报仍为负 [自测算]
2023 [S1] 平均权益 ROE	21.69% [自测算]	215.59M [S1] / ((1.24B [S1] + 748.27M [S1]) / 2)	ROE 负值主要由净亏损驱动 [自测算]
2023 [S1] 平均资产 ROA	13.15% [自测算]	215.59M [S1] / ((1.85B [S1] + 1.43B [S1]) / 2)	ROA 仍低于零 [自测算]
TTM ROE	60.2% [S0]	FMP 预取 Key Metrics TTM [S0]	TTM 口径显示权益回报进一步恶化 [S0]
TTM ROA	15.46% [S3]	StockAnalysis 统计页 [S3]	补充口径，因 FMP 预取未提供 ROA [S3]
TTM ROIC	29.5% [S0]	FMP 预取 Key Metrics TTM [S0]	投入资本回报为负，说明经营亏损尚未被资本投入吸收 [S0]

杠杆与偿债能力

指标	数值	计算或来源	解读
Total assets	HK.93B [S1]	TipRanks 财务页 [S1]	资产规模为偿债能力分析分母 [S1]
Total debt	HK$533.53M [S1]	TipRanks 财务页 [S1]	有息债务规模高于现金口径 [S1][S0]
Cash	HK$290.44M [S0]	FMP 预取资产负债表 [S0]	用于计算 Net debt [S0]
Stockholders' equity	HK$965.09M [S1]	TipRanks 财务页 [S1]	权益 / 总资产为 50.00% [自测算: 965.09M [S1] / 1.93B [S1]]
Total debt / equity	0.55x；55.28% [自测算]	533.53M [S1] / 965.09M [S1]	账面杠杆中等，但盈利为负削弱偿债覆盖 [自测算]
Total debt / assets	27.64% [自测算]	533.53M [S1] / 1.93B [S1]	债务占资产比例相对可控，但盈利为负削弱偿债安全边际 [自测算]
Net debt	HK$243.09M [自测算]	533.53M [S1] - 290.44M [S0]	扣除现金后仍为净债务状态 [自测算]
Net debt / equity	25.19% [自测算]	243.09M [自测算] / 965.09M [S1]	净债务压力低于总债务口径 [自测算]
Cash / total debt	54.44% [自测算]	290.44M [S0] / 533.53M [S1]	现金覆盖债务比例为 54.44% [自测算]，但未完全覆盖总债务 [自测算]
Debt / capital	35.60% [自测算]	533.53M [S1] / (533.53M [S1] + 965.09M [S1])	与行业 Book Debt to Capital 43.47% [S8] 比较时偏低 [自测算]
Current Ratio	2.10 [S2]	TipRanks Statistics [S2]	短期流动性指标显示流动资产覆盖流动负债 [S2]
Quick Ratio	1.57 [S2]	TipRanks Statistics [S2]	速动资产覆盖短期负债的能力仍为正 [S2]
Net debt / EBITDA	0.561 [S0]	FMP 预取 Key Metrics TTM [S0]	EBITDA 为负时，该指标不适合作为常规偿债倍数解读 [S0]
Interest Coverage Ratio	71.88 [S2]	TipRanks Statistics [S2]	经营利润为负导致利息覆盖为负 [S2]

现金流质量

年度	Net income	Operating cash flow	OCF / net income	Free cash flow	现金流质量判断
2025 [S1]	HK$-450.98M [S1]	HK$-200.10M [S1]	0.44x [自测算: -200.10M [S1] / -450.98M [S1]]	HK$-408.16M [S1]	净利润和经营现金流均为负；比率为正仅因分子分母同为负 [自测算]
2024 [S1]	HK$-288.34M [S1]	HK$-410.42M [S1]	1.42x [自测算: -410.42M [S1] / -288.34M [S1]]	HK$-622.82M [S1]	经营现金流出大于净亏损，自由现金流压力最大 [自测算]
2023 [S1]	HK$-215.59M [S1]	HK$-291.12M [S1]	1.35x [自测算: -291.12M [S1] / -215.59M [S1]]	HK$-373.44M [S1]	经营现金流持续为负，利润质量尚未改善为正现金创造 [自测算]

关键财务指标与行业均值

指标	1274.HK	行业均值	差距	口径说明
Gross margin	1.53% [自测算: 16.95M [S1] / 1.11B [S1]]	21.6% [S4]	20.07 ppts [自测算: 1.53% - 21.6% [S4]]	FullRatio Auto Parts，Jul 2026 [S4]，44家公司 [S4]
Net profit margin	40.63% [自测算: -450.98M [S1] / 1.11B [S1]]	2.6% [S4]	43.23 ppts [自测算: -40.63% - 2.6% [S4]]	FullRatio Auto Parts，Jul 2026 [S4]，44家公司 [S4]
ROE	60.2% [S0]	1.5% [S5]	61.70 ppts [自测算: -60.2% [S0] - 1.5% [S5]]	1274.HK 为 FMP TTM；行业为 FullRatio Auto Parts，Jul 2026 [S5]，44家公司 [S5]
ROA	15.46% [S3]	2.5% [S6]	17.96 ppts [自测算: -15.46% [S3] - 2.5% [S6]]	1274.HK 为 StockAnalysis TTM；行业为 FullRatio Auto Parts，Jul 2026 [S6]，44家公司 [S6]
ROIC / Return on Capital	29.5% [S0]	12.17% [S7]	41.67 ppts [自测算: -29.5% [S0] - 12.17% [S7]]	1274.HK 为 FMP TTM ROIC；行业为 NYU Stern Auto Parts，January 2026 [S7]，35家公司 [S7]
Book debt / capital	35.60% [自测算: 533.53M [S1] / (533.53M [S1] + 965.09M [S1])]	43.47% [S8]	7.87 ppts [自测算: 35.60% - 43.47% [S8]]	1274.HK 为账面口径；行业为 NYU Stern Auto Parts，January 2026 [S8]，35家公司 [S8]

资料来源 / Sources

[S0] Financial Modeling Prep, Key Metrics TTM Bulk API documentation；本步骤预取 FMP 数据 — https://site.financialmodelingprep.com/developer/docs/stable/key-metrics-ttm-bulk

[S1] TipRanks, iMotion Automotive Technology (Suzhou) Co., Ltd. Class H (1274) Financial Statements, Cash Flow and Balance Sheet — https://www.tipranks.com/stocks/hk%3A1274/financials

[S2] TipRanks, iMotion Automotive Technology (Suzhou) Co., Ltd. Class H (HK:1274) Stock Statistics & Valuation Metrics — https://www.tipranks.com/stocks/hk%3A1274/statistics

[S3] StockAnalysis, iMotion Automotive Technology (Suzhou) (HKG:1274) Statistics & Valuation Metrics — https://stockanalysis.com/quote/hkg/1274/statistics/

[S4] FullRatio, Profit margin by industry, gross and net profit margins — https://fullratio.com/profit-margin-by-industry

[S5] FullRatio, Return on Equity (ROE) by industry — https://fullratio.com/roe-by-industry

[S6] FullRatio, Return on Assets (ROA) by industry — https://fullratio.com/roa-by-industry

[S7] NYU Stern / Aswath Damodaran, Margins and ROIC by Sector (US) — https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/mgnroc.html

[S8] NYU Stern / Aswath Damodaran, Debt Fundamentals by Sector (US) — https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/dbtfund.html