GD Power Development (600795) Q1 2025 earnings summary

Executive summary

• Net profit attributable to shareholders rose 1.45% year-over-year to RMB 1.81 billion in Q1 2025.

• Revenue declined 12.61% year-over-year to RMB 39.81 billion, mainly due to lower electricity sales volume and average selling price.

• Cash flow from operating activities surged 92.79% year-over-year to RMB 14.03 billion.

Financial highlights

• Basic and diluted EPS were RMB 0.102, up 2.00% year-over-year.

• Gross margin improved as operating costs fell faster than revenue.

• Net assets attributable to shareholders increased 3.34% from year-end 2024 to RMB 57.90 billion.

• Total assets reached RMB 500.28 billion, up 1.28% from year-end 2024.

Outlook and guidance

• Management highlighted the impact of asset disposals and subsidiary bankruptcy on Q1 results.

• Continued focus on optimizing asset structure and improving cash flow.