Bloomage BioTechnology (688363) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 1.08 billion, down 20.77% year-over-year, with net profit attributable to shareholders at RMB 101.89 million, a 58.13% decline year-over-year.

• The main reason for profit decline was a significant drop in skin science innovation business revenue, while bioactive materials and medical terminal businesses remained stable.

• Management initiated direct intervention and restructuring in the skin science segment, focusing on brand repositioning and operational efficiency.

Financial highlights

• Operating cash flow was negative RMB 22.98 million, compared to positive RMB 34.85 million in Q1 2024, mainly due to lower sales and collections.

• Basic and diluted EPS were both RMB 0.21, down 58.82% year-over-year.

• R&D investment increased 9.64% year-over-year to RMB 104.97 million, representing 9.74% of revenue.

• Total assets at quarter-end were RMB 8.54 billion, with shareholders' equity at RMB 6.93 billion.

Outlook and guidance

• Management expects short-term performance pressure due to strategic upgrades and management reforms but anticipates long-term growth from innovation in glycobiology and cell biology.

• Continued focus on technology innovation, synthetic biology applications, and business structure optimization to drive high-quality development.