BAIC Motor (1958) Q1 2025 earnings summary

Executive summary

• Total operating income for Q1 2025 reached RMB 42.44 billion, up from RMB 38.24 billion year-over-year.

• Net profit for the period was RMB 2.96 billion, compared to RMB 3.49 billion in Q1 2024.

• Net profit attributable to owners of the parent was RMB 929 million, down from RMB 1.03 billion year-over-year.

Financial highlights

• Operating profit for Q1 2025 was RMB 4.37 billion, down from RMB 5.18 billion in Q1 2024.

• Total comprehensive income for the period was RMB 3.72 billion, compared to RMB 4.50 billion in Q1 2024.

• Cash and cash equivalents at period end were RMB 31.22 billion, down from RMB 33.92 billion at Q1 2024 end.

• Net cash flows from operating activities were RMB 1.52 billion, a significant decrease from RMB 5.05 billion in Q1 2024.

Key financial ratios and metrics

• Gross margin improved as operating costs increased at a slower rate than revenue year-over-year.

• Financial expenses turned positive, with a gain of RMB 303 million versus an expense of RMB 257 million in Q1 2024.

• Selling and administrative expenses both decreased significantly year-over-year.