Shenzhen Kedali Industry (002850) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached ¥3.02 billion, up 20.46% year-over-year, driven by increased orders and sales.

• Net profit attributable to shareholders was ¥387.31 million, a 25.51% increase compared to the same quarter last year.

• Operating cash flow surged 198.89% year-over-year to ¥678.59 million, reflecting stronger cash collections from sales.

Financial highlights

• Gross margin remained stable as cost of sales increased in line with revenue growth.

• Basic and diluted EPS both rose to ¥1.42 from ¥1.14, up 24.56% year-over-year.

• Total assets at quarter-end were ¥19.95 billion, up 4.74% from year-end 2024.

• Shareholders’ equity increased 5.77% to ¥12.31 billion.

• Non-recurring gains totaled ¥34.38 million, mainly from government grants and fair value changes.

Outlook and guidance

• Management attributes growth to increased orders and expects continued momentum from new projects and R&D investments.