Changchun High-Tech Industry (Group) (000661) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 2.997 billion, down 5.66% year-over-year; net profit attributable to shareholders was RMB 472.7 million, down 44.95% year-over-year.

• Decline in net profit mainly due to increased sales and R&D expenses as the company strengthened compliance and accelerated new product launches.

• Major subsidiary Jinsai Pharma saw revenue rise 5.94% but net profit fell 38.31% year-over-year; Baike Biotech and Gaoxin Real Estate posted significant declines.

Financial highlights

• Operating cash flow was RMB 571.1 million, down 49.72% year-over-year.

• Basic EPS was RMB 1.17, down 45.07% year-over-year.

• Total assets at quarter-end were RMB 31.70 billion, up 2.08% from year-end 2024.

• Shareholders’ equity attributable to listed company was RMB 23.47 billion, up 2.06% from year-end 2024.

• Non-recurring losses totaled RMB 19.46 million, mainly from government grants and asset disposals.

Segment performance

• Jinsai Pharma: revenue RMB 2.617 billion (+5.94% YoY), net profit RMB 535 million (-38.31% YoY).

• Baike Biotech: revenue RMB 162 million (-39.96% YoY), net profit RMB 1 million (-98.24% YoY).

• Huakang Pharma: revenue RMB 178 million (-7.07% YoY), net profit RMB 12 million (+2.49% YoY).

• Gaoxin Real Estate: revenue RMB 31 million (-86.98% YoY), net profit -RMB 6 million (down 191.05% YoY).