Shenzhen Capchem Technology (300037) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 2.00 billion, up 32.14% year-over-year, with net profit attributable to shareholders at RMB 229.88 million, a 39.30% increase year-over-year.

• Basic EPS was RMB 0.31, up 40.91% year-over-year; diluted EPS was RMB 0.32, up 52.38% year-over-year.

• Operating cash flow improved but remained negative at -RMB 286.23 million, a 28.81% improvement year-over-year.

Financial highlights

• Gross margin improved as revenue growth outpaced cost increases; operating profit rose 43.79% year-over-year to RMB 269.82 million.

• Net profit margin increased, with net profit at RMB 231.50 million, up 41.93% year-over-year.

• Total assets at quarter-end were RMB 17.59 billion, down 0.21% from year-end 2024; equity attributable to shareholders rose 2.48% to RMB 9.99 billion.

• Non-recurring gains totaled RMB 7.99 million, mainly from government subsidies and investment returns.

Outlook and guidance

• 2024 annual profit distribution plan approved: cash dividend of RMB 4 per 10 shares (pre-tax), no bonus shares or capital increase.

• Convertible bond (宙邦转债) remains outstanding with no conversions in Q1 2025; latest conversion price is RMB 41.98 per share.