Zinwell Corporation (2485) Q1 2025 earnings summary

Executive summary

• Consolidated revenue for Q1 2024 was NT$418.93 million, down 57% year-over-year from NT$983.03 million in Q1 2023.

• Net loss attributable to owners was NT$190.16 million, compared to a net loss of NT$110.99 million year-over-year.

• Basic and diluted loss per share were NT$0.60, compared to NT$0.35 in the prior year.

Financial highlights

• Gross margin turned negative, with a gross loss of NT$55.33 million (13% of revenue) versus a gross profit of NT$9.86 million (1%) last year.

• Operating loss widened to NT$178.18 million (42% of revenue) from NT$140.42 million (14%) year-over-year.

• Cash and cash equivalents at quarter-end were NT$1.32 billion, down from NT$2.32 billion a year ago.

• Total assets decreased to NT$6.50 billion from NT$8.53 billion year-over-year.

• Total liabilities dropped to NT$1.08 billion from NT$2.34 billion year-over-year.

Outlook and guidance

• No dividends proposed for 2023 and 2024 due to consecutive annual losses.

• Capital management strategy remains unchanged, focusing on maintaining optimal capital structure and monitoring debt-to-capital ratio.