Xgd (300130) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 701.33 million, down 10.39% year-over-year; net profit attributable to shareholders was RMB 156.42 million, down 29.15% year-over-year.

• Operating cash flow turned negative at -RMB 74.22 million, compared to RMB 84.83 million in Q1 2024.

• Major investment initiated in a new smart manufacturing and AI headquarters project in Dongguan, with total planned investment of RMB 1.2 billion.

Financial highlights

• Revenue decreased 10.39% year-over-year; net profit attributable to shareholders fell 29.15%.

• Net profit excluding non-recurring items was RMB 148.49 million, down 29.85% year-over-year.

• Basic EPS was RMB 0.28, down from RMB 0.40 in Q1 2024.

• Total assets at quarter-end were RMB 5.82 billion, up 2.32% from year-end 2024.

• Net cash outflow from investing activities reached -RMB 1.51 billion, mainly due to purchase of wealth management products.

Outlook and guidance

• Company is advancing a major investment in smart manufacturing and AI, with the first phase of the Dongguan project underway.