Sany Heavy Industry (600031) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 21.05 billion, up 19.18% year-over-year, driven by both domestic and international sales growth.

• Net profit attributable to shareholders was RMB 2.47 billion, a 56.40% increase compared to the same quarter last year.

• Excluding non-recurring items, adjusted net profit rose 78.54% year-over-year to RMB 2.40 billion.

Financial highlights

• Operating cash flow for Q1 was RMB 4.41 billion, nearly flat year-over-year.

• Basic and diluted EPS were RMB 0.2921, up 56.45% year-over-year.

• Total assets at quarter-end stood at RMB 153.84 billion, up 1.11% from year-end 2024.

• Shareholders' equity attributable to listed company shareholders increased 4.06% to RMB 74.87 billion.

• Non-recurring profit totaled RMB 67.94 million, mainly from government subsidies and investment returns, offset by fair value losses.

Key financial ratios and metrics

• Gross margin improved as cost controls and lower expense ratios contributed to profit growth.

• Weighted average ROE rose by 1.02 percentage points to 3.37%.