Beijing New Building Materials (000786) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 6.25 billion, up 5.09% year-over-year; net profit attributable to shareholders was RMB 842 million, up 2.46% year-over-year.

• Basic and diluted EPS were both RMB 0.498, up 2.26% year-over-year.

• Total assets at quarter-end were RMB 36.53 billion, up 3.97% from year-end 2024.

Financial highlights

• Operating cash flow was negative RMB 221.5 million, a significant decrease from the prior year due to a one-off receivable recovery in Q1 2024.

• Gross margin and net margin remained stable; net profit margin was 13.5%.

• Non-recurring gains totaled RMB 23.19 million, mainly from government subsidies and fair value changes.

• Shareholder equity increased 3.24% to RMB 26.51 billion.

Outlook and guidance

• Management continues to focus on core gypsum board business and optimizing capital allocation.

• No major changes in project feasibility or expected returns; ongoing attention to market and industry trends.