Shenzhen Kinwong Electronic (603228) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 3.34 billion, up 21.90% year-over-year, indicating strong top-line growth.

• Net profit attributable to shareholders was RMB 324.82 million, a 2.18% increase compared to Q1 2024.

• Operating cash flow improved significantly, with net cash from operations at RMB 499.65 million, up 26.61% year-over-year.

Financial highlights

• Gross margin was impacted by higher costs, with operating costs rising to RMB 2.65 billion from RMB 2.07 billion year-over-year.

• Basic and diluted EPS both stood at RMB 0.39, up from RMB 0.38 in Q1 2024.

• Total assets increased to RMB 20.34 billion, a 5.70% rise from the end of 2024.

• Shareholders’ equity grew to RMB 11.69 billion, up 3.29% from year-end 2024.

• Net profit excluding non-recurring items was RMB 231.88 million, down 17.56% year-over-year.

Outlook and guidance

• Management did not provide explicit forward-looking guidance in this report.