Saimo Technology (300466) Q2 2025 earnings summary

Executive summary

• H1 revenue was RMB 215.53m, down 9.88% YoY; net loss attributable to shareholders was RMB 15.24m versus net income of RMB 2.73m a year earlier.

• Lower revenue across metering and inspection products, automation projects and intelligent logistics, plus higher bad-debt provisions from delayed customer collections, drove the loss; operating cash flow rose to RMB 40.85m.

Financial highlights

• Revenue was RMB 215.53m and operating costs were RMB 219.56m; net loss was RMB 18.17m, including RMB 15.24m attributable to parent shareholders.

• Adjusted for non-recurring items, net loss attributable to shareholders was RMB 17.70m; basic and diluted EPS were both -RMB 0.0285.

• Operating cash flow was RMB 40.85m versus RMB 5.42m YoY; cash and cash equivalents increased RMB 28.50m, versus a RMB 39.69m decline in H1 2024.

• R&D expense was RMB 19.39m, down 14.10% YoY; selling expense fell 6.48% to RMB 30.61m and administrative expense decreased 0.56% to RMB 31.95m.

Outlook and guidance

• National policies promoting industrial equipment upgrades, green manufacturing, industrial digitalization and AI applications support demand prospects for smart equipment, industrial software and industrial internet offerings.

• Strategic priorities include concentrating on advantaged industries, strengthening process controls, expanding new-energy markets and using technology innovation to pursue manufacturing digitalization opportunities.