Canmax Technologies (300390) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was ¥1.69 billion, down 3.8% year-over-year.

• Net profit attributable to shareholders dropped 99.35% year-over-year to ¥3.26 million.

• Operating cash flow turned negative at -¥522 million, compared to ¥598 million positive in Q1 2024.

• Basic and diluted EPS both fell to ¥0.00 from ¥0.60 in the prior year.

Financial highlights

• Gross margin compressed as operating costs rose despite lower revenue.

• Other income, mainly government subsidies, fell 93.44% year-over-year.

• Financial expenses increased due to lower interest income.

• Asset impairment losses dropped 82.08% year-over-year.

• Cash and cash equivalents at period end were ¥2.20 billion, down from ¥2.43 billion at year start.

Outlook and guidance

• Company signed a lithium resource development agreement with Kebbi State, Nigeria, in February 2025, aiming to secure upstream resources.