Transwarp Technology (Shanghai) (688031) Q1 2025 earnings summary

Executive summary

• Q1 revenue increased 2.59% YoY to RMB64.36m; attributable net loss narrowed to RMB83.58m from RMB88.67m.

• Operating cash outflow narrowed to RMB88.73m from RMB167.28m, while R&D spending remained high at 94.37% of revenue.

Financial highlights

• Revenue was RMB64.36m, up from RMB62.73m YoY; total operating costs were RMB157.96m versus RMB159.74m.

• Attributable net loss was RMB83.58m versus RMB88.67m; excluding nonrecurring gains, attributable net loss was RMB87.85m versus RMB93.45m.

• Operating loss narrowed to RMB83.76m from RMB88.95m; net loss was RMB83.72m versus RMB88.88m.

Key financial ratios and metrics

• Basic and diluted EPS were both -RMB0.69, compared with -RMB0.73 YoY; weighted average ROE was -7.88% versus -6.32%.

• R&D expense was RMB60.73m, down 7.68% YoY; R&D as a share of revenue was 94.37%, down 10.50 percentage points.

• Total assets were RMB1.340bn at quarter-end, down 4.06% from year-end; parent-attributable equity was RMB1.028bn, down 6.43%.