Hundsun Technologies (600570) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 1.03 billion, down 13.62% year-over-year due to declines in several technology service segments.

• Net profit attributable to shareholders was RMB 31.33 million, a turnaround from a net loss of RMB 36.14 million in Q1 2024, mainly due to increased investment and fair value gains.

• Cash flow from operating activities remained negative at RMB -1.06 billion, though improved from the prior year.

Financial highlights

• Revenue: RMB 1,025.88 million, down 13.62% year-over-year.

• Net profit attributable to shareholders: RMB 31.33 million (Q1 2024: -RMB 36.14 million).

• Basic and diluted EPS: RMB 0.02 (Q1 2024: -RMB 0.02).

• Operating cash flow: RMB -1,057.37 million (Q1 2024: -RMB 1,146.47 million).

• Total assets: RMB 13.73 billion, down 6.76% from year-end 2024.

Segment performance

• Wealth technology services revenue grew 5.14% year-over-year.

• Asset management technology services revenue fell 33.87% year-over-year.

• Risk and platform technology services revenue declined 43.35% year-over-year.

• Data services, innovation business, and operations/institutional tech services all saw single-digit declines.

• Corporate finance, insurance core, and financial infrastructure tech services grew 19.92% year-over-year.