Humanwell Healthcare (600079) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 6.14 billion, down 3.61% year-over-year; net profit attributable to shareholders rose 11.09% to RMB 540 million.

• Net profit excluding non-recurring items increased 14.35% year-over-year to RMB 531 million.

• Basic and diluted EPS both reached RMB 0.33, up 10% year-over-year.

Financial highlights

• Total assets at quarter-end were RMB 37.17 billion, up 1.8% from year-end 2024.

• Shareholders' equity attributable to listed company shareholders rose 2.9% to RMB 18.13 billion.

• Operating cash flow was negative RMB 337 million, a further decline from negative RMB 179 million in Q1 2024, mainly due to lower sales and collections under medical insurance cost control policies.

• Non-recurring gains totaled RMB 9.38 million, mainly from government subsidies and asset disposals.

Key financial ratios and metrics

• Gross margin improved as cost of sales declined more than revenue; operating profit margin increased.

• Weighted average ROE was 3.02%, up 0.20 percentage points year-over-year.

• Net profit margin attributable to shareholders improved to 8.8% from 7.6% year-over-year.