Canny Elevator (002367) Q1 2025 earnings summary

Executive summary

• Net profit attributable to shareholders rose 28.58% year-over-year to ¥69.14 million, despite a 4.80% decline in revenue to ¥728.66 million.

• Cash flow from operating activities improved significantly, with a net outflow of ¥59.38 million versus ¥304.54 million last year.

• The company maintained a stable order backlog of ¥7.004 billion as of March 31, 2025, excluding several major new contracts.

Financial highlights

• Revenue for Q1 2025 was ¥728.66 million, down 4.80% year-over-year.

• Net profit attributable to shareholders reached ¥69.14 million, up 28.58% year-over-year.

• Basic and diluted EPS were ¥0.0867, up 28.64% year-over-year.

• Gross margin improved as cost controls offset revenue decline.

• Total assets at quarter-end were ¥7.51 billion, up 0.30% from year-end 2024.

Outlook and guidance

• Order backlog remains robust, with additional contracts worth ¥2.048 billion not yet included in the backlog.

• Several major rail transit projects are in execution or pending contract signing, supporting future revenue.