Shanghai Longcheer Technology (603341) Q1 2025 earnings summary

Executive summary

• Q1 revenue was RMB 9.38bn, down 9.27% YoY; net profit attributable to shareholders rose 20.33% to RMB 154.1m.

• Growth in tablets and AIoT partly offset lower smartphone revenue; reported profit included significant non-recurring gains.

Financial highlights

• Revenue was RMB 9.378bn vs. RMB 10.337bn a year earlier; operating costs totaled RMB 9.373bn.

• Net profit attributable to shareholders was RMB 154.1m, up 20.33% YoY; net profit excluding non-recurring items was RMB 60.6m, down 28.95%.

• Operating profit was RMB 167.6m vs. RMB 139.5m in Q1 2024; total net profit was RMB 151.0m vs. RMB 126.5m.

• Operating cash flow was RMB 674.5m, down 5.05% YoY; quarter-end cash and cash equivalents were RMB 6.366bn.

Segment performance

• Smartphones generated RMB 6.741bn revenue, down 20.86% YoY.

• Tablets generated RMB 952m revenue, up 21.56% YoY, with continued shipments of high-end products and development of flagship-device capabilities.

• AIoT revenue was RMB 1.405bn, up 53.48% YoY; AI glasses work expanded to accessories for a leading global internet customer.

• Automotive electronics secured new project awards from NIO and Dongfeng Electric Drive; ECU products entered mass production.

• AI PC development expanded from ARM to x86 platforms, preparing for future mass shipments.