China Resources Microelectronics (688396) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 2.35 billion, up 11.29% year-over-year, with net profit attributable to shareholders surging 150.68% to RMB 83.22 million.

• Gross margin improved as higher sales drove a significant increase in profitability.

• R&D investment totaled RMB 278.56 million, representing 11.83% of revenue.

Financial highlights

• Operating cash flow was RMB 271 million, down 4.97% year-over-year.

• Basic and diluted EPS both rose to RMB 0.0629, up 150.60% year-over-year.

• Total assets at quarter-end were RMB 29.28 billion, up 0.60% from year-end 2024.

• Shareholders' equity attributable to listed company shareholders increased 0.99% to RMB 22.53 billion.

• Net cash from investing activities was negative RMB 171.46 million, while financing activities provided RMB 135.68 million.

Outlook and guidance

• Management attributes profit growth to increased revenue and gross profit, with no additional forward-looking guidance disclosed.