Beijing Easpring Material Technology (300073) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached ¥1.91 billion, up 25.80% year-over-year, with net profit attributable to shareholders at ¥110.62 million, a slight increase of 0.22% from the prior year.

• Operating cash flow turned positive at ¥361.21 million, a significant improvement from a negative ¥147.79 million in Q1 2024.

Financial highlights

• Gross margin compressed as cost of sales rose 31.64% year-over-year, outpacing revenue growth due to a higher share of lower-margin lithium iron phosphate business.

• Basic and diluted EPS were both ¥0.2184, flat year-over-year.

• Total assets increased 6.17% to ¥18.18 billion compared to year-end 2024.

• Net cash from investing activities was ¥729.60 million, up 306.27% year-over-year, mainly from maturing structured deposits.

• Net cash from financing activities rose 52.28% to ¥175.41 million, driven by minority shareholder capital injections.

Outlook and guidance

• No explicit forward-looking guidance provided, but increased contract liabilities and minority investments suggest expectations of continued business expansion.