Beijing Wantai Biological Pharmacy Enterprise Co. (603392) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was RMB 400.63 million, down 46.76% year-over-year due to weaker vaccine sales and market adjustments.

• Net loss attributable to shareholders was RMB -52.78 million, compared to a net profit of RMB 125.71 million in Q1 2024.

• Cash flow from operating activities was negative at RMB -85.97 million, reflecting lower sales and cash receipts.

Financial highlights

• Revenue decreased 46.76% year-over-year, mainly due to lower vaccine segment sales.

• Net loss attributable to shareholders was RMB -52.78 million, a decline of 141.98% year-over-year.

• Basic and diluted EPS were both -0.04, down from 0.10 in the prior year.

• Operating cash flow was negative RMB -85.97 million, compared to positive RMB 9.28 million last year.

• Total assets at quarter-end were RMB 14.47 billion, down slightly from year-end 2024.

Outlook and guidance

• Vaccine segment expected to remain under pressure due to ongoing market adjustments and government procurement impacts.