Dajin Heavy Industry (002487) Q1 2025 earnings summary

Executive summary

• Achieved revenue of ¥1.14 billion in Q1 2025, up 146.36% year-over-year, with net profit attributable to shareholders at ¥230.95 million, up 335.91% year-over-year.

• Gross margin reached 30.95% and net margin 20.25%, both showing continued improvement; quarterly net profit hit a record high since listing.

• Export marine engineering product shipments surged to a historical Q1 high, with strong order backlog and high production scheduling expected to continue.

Financial highlights

• Operating income: ¥1,140.71 million, up 146.36% year-over-year.

• Net profit attributable to shareholders: ¥230.95 million, up 335.91% year-over-year.

• Basic and diluted EPS: ¥0.36, up 350% year-over-year.

• Operating cash flow: -¥277.89 million, down from -¥95.81 million year-over-year.

• Total assets: ¥12.75 billion, up 10.24% from year-end 2024.

Outlook and guidance

• Export marine engineering product deliveries expected to remain robust, with all export pile foundation orders for the year under DAP terms and over half as TP-less monopile products.

• High order backlog and production scheduling indicate sustained high business activity in coming quarters.