Jiangsu Eastern Shenghong (000301) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 30.31 billion, down 17.5% year-over-year, while net profit attributable to shareholders rose 38.19% to RMB 341.17 million.

• Net profit after deducting non-recurring items surged 239.46% year-over-year to RMB 292.85 million.

• Total assets increased 5.14% from year-end 2024 to RMB 214.81 billion.

Financial highlights

• Gross margin improved as cost of sales fell faster than revenue; cost of sales dropped 16.6% year-over-year.

• Basic and diluted EPS both at RMB 0.05, up from RMB 0.04 in Q1 2024.

• Net cash flows from operating activities were negative RMB 2.69 billion, compared to positive RMB 981 million in Q1 2024.

• Other income rose 464.1% year-over-year, mainly due to preferential VAT deductions.

• Investment income fell 93.6% year-over-year, reflecting lower returns from affiliates.

Outlook and guidance

• No explicit forward-looking guidance provided, but increased inventory and advance payments suggest expectations of higher future activity.