数字零售SaaS公司多点数智(02586)12月11日上午盘中股价暴跌5.07%,引发市场关注。
数据显示,多点数智虽然营收持续增长,但一直未能扭亏为盈,2021年至2024年上半年连续亏损超过33亿元人民币。加上债务压力巨大,2024年中期现金只有4.7亿元,却有高达82.7亿元的短期债务在身,资产负债率高达620%,偿债能力引发市场担忧。
此外,多点数智业务高度依赖关联公司物美系企业的订单,独立客户营收占比仅13.3%,这种极度依赖关联交易的商业模式被市场诟病容易引发利益输送。同时,作为传统线下零售数字化服务商,多点数智也面临线下零售业务前景不佳、转型压力大的挑战。
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