Hengtong Optic-Electric (600487) Q1 2025 earnings summary

Executive summary

• Achieved Q1 revenue of RMB 13.27 billion, up 12.58% year-over-year; net profit attributable to shareholders reached RMB 556.78 million, up 8.52% year-over-year.

• Orders on hand remain robust: RMB 18 billion in energy interconnection, RMB 8 billion in marine communications, and over USD 300 million for the PEACE submarine cable project.

• Maintained steady operations with significant new project wins in offshore wind and marine energy, totaling RMB 1.133 billion.

Financial highlights

• Revenue: RMB 13.27 billion, up 12.58% year-over-year; net profit attributable to shareholders: RMB 556.78 million, up 8.52%.

• Net profit excluding non-recurring items: RMB 546.86 million, up 32.67% year-over-year.

• Operating cash flow: RMB 76.65 million, down 55.73% year-over-year due to reduced operating inflows.

• Total assets: RMB 67.57 billion, up 1.70% from year-end 2024; shareholders' equity: RMB 29.32 billion, up 2.76%.

• Basic and diluted EPS: RMB 0.2298, up from RMB 0.2080 year-over-year.

Outlook and guidance

• Company expects continued growth, supported by strong order backlog in energy interconnection and marine communications.

• Ongoing focus on core business, quality improvement, and high-quality development initiatives.