China Resources Boya Bio-pharmaceutical Group (300294) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached ¥535.88 million, up 19.49% year-over-year, mainly due to the Green Cross acquisition and increased sales of albumin and IVIG products.

• Net profit attributable to shareholders was ¥139.48 million, down 8.25% year-over-year, impacted by inventory write-downs, increased depreciation/amortization, and lower tax expenses.

• Cash flow from operating activities was negative at -¥42.12 million, a significant decline from ¥123.87 million in Q1 2024, due to lower collections, higher marketing expenses, and increased plasma procurement costs.

Financial highlights

• Operating income rose 19.49% year-over-year to ¥535.88 million.

• Net profit attributable to shareholders fell 8.25% year-over-year to ¥139.48 million.

• Net profit excluding non-recurring items dropped 19.67% year-over-year to ¥102.26 million.

• Basic and diluted EPS were ¥0.28, down 6.67% year-over-year.

• Total assets at quarter-end were ¥8.48 billion, up 0.92% from year-end 2024.

Outlook and guidance

• Growth in revenue is expected to continue, supported by the Green Cross acquisition and stable performance in core blood products.