Shanghai International Port (Group) Co Ltd (600018) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 9.52 billion, up 6.34% year-over-year.

• Net profit attributable to shareholders was RMB 3.91 billion, a 5.71% increase year-over-year.

• Cash flow from operating activities rose 32.62% to RMB 2.89 billion, mainly due to lower land value-added tax payments compared to last year.

Financial highlights

• Total assets at quarter-end were RMB 216.21 billion, up 1.96% from year-end 2024.

• Shareholders' equity increased 3.15% to RMB 137.50 billion.

• Basic EPS was RMB 0.1683, up 5.52% year-over-year; diluted EPS was RMB 0.1681, up 5.59%.

• Net profit excluding non-recurring items rose 15.32% year-over-year to RMB 3.80 billion.

• Non-recurring profit totaled RMB 111.86 million, mainly from government grants and fair value changes.

Key financial ratios and metrics

• Gross margin improved as operating costs grew slower than revenue.

• Weighted average ROE was 2.89%, slightly down by 0.07 percentage points year-over-year.