净利率为何为负？

中文段落：

净利率是评估企业经营效益的重要指标之一，它反映了企业在一定时期内通过经营活动所获得的净利润与总收入之间的比率。然而，有时我们会发现某些企业的净利率出现负数，这究竟是何原因呢？

首先，成本过高是导致净利率为负的常见原因之一。当企业的成本支出超过其收入时，净利率自然为负。这可能是由于企业在生产过程中管理不善、原材料成本上涨、人工成本增加等因素所致。

其次，市场竞争激烈也是导致净利率为负的原因之一。在竞争激烈的市场环境中，企业为了争夺市场份额，可能不得不采取低价策略，导致销售价格低于成本价，进而使得净利率出现负数。

此外，企业的经营策略、管理水平、财务风险等因素也可能导致净利率为负。例如，企业可能过于追求规模扩张，而忽视了盈利能力的提升；或者企业在财务管理上存在问题，如资金链紧张、债务负担过重等，都可能导致净利率的下滑。

英文段落：

Net profit margin is one of the key indicators to assess the operational efficiency of a business, reflecting the ratio between the net profit earned through business activities and the total revenue within a certain period. However, sometimes we find that the net profit margin of certain businesses turns negative. What are the reasons behind this?

Firstly, excessive costs are a common reason for a negative net profit margin. When a business's cost expenditures exceed its revenue, the net profit margin naturally becomes negative. This could be due to factors such as poor management during production, rising raw material costs, and increased labor costs.

Secondly, fierce market competition is another reason for a negative net profit margin. In a highly competitive market environment, businesses may have to adopt low-price strategies to grab market share, resulting in sales prices being lower than cost prices, and subsequently leading to a negative net profit margin.

In addition, factors such as a business's operational strategy, management level, and financial risks may also contribute to a negative net profit margin. For instance, a business may over-focus on scale expansion while neglecting the improvement of profitability. Or, if a business has issues in financial management, such as tight cash flow or excessive debt burden, it may also lead to a decline in the net profit margin.