FAW Jiefang Group (000800) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 14.34 billion, down 24.6% year-over-year; net profit attributable to shareholders was RMB 29.05 million, down 83.4% year-over-year.

• Excluding non-recurring items, net loss attributable to shareholders was RMB 217.96 million, compared to a profit of RMB 103.57 million in Q1 2024.

• Significant non-recurring gains included RMB 156.46 million from disposal of non-current assets and RMB 134.22 million in government subsidies.

Financial highlights

• Operating cash flow was RMB 411.50 million, down 64.8% year-over-year.

• Basic and diluted EPS were RMB 0.0071, down 81.2% year-over-year.

• Total assets at quarter-end were RMB 79.04 billion, up 8.65% from year-end 2024.

• Owner's equity attributable to shareholders was RMB 26.35 billion, up 0.13% from year-end 2024.

• Cash and cash equivalents increased by RMB 215.12 million during the quarter.

Outlook and guidance

• The company approved daily related-party transaction limits and financial service agreements for 2025.

• No explicit forward-looking financial guidance was provided.