Shenzhen Inovance Technology (300124) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached RMB 8.98 billion, up 38.28% year-over-year; net profit attributable to shareholders was RMB 1.32 billion, up 63.08%.

• Excluding non-recurring items, net profit was RMB 1.23 billion, up 55.87% year-over-year.

• Cash flow from operating activities surged 865.30% to RMB 263 million.

Financial highlights

• Basic and diluted EPS were RMB 0.49, up 63.33% year-over-year.

• Total assets at quarter-end were RMB 57.85 billion, up 1.18% from year-end 2024.

• Shareholders' equity increased 5.63% to RMB 29.57 billion.

• Significant non-recurring gains included RMB 91.57 million from asset disposals and RMB 30.58 million in government subsidies.

Outlook and guidance

• New energy vehicle business and general automation are expected to continue driving growth.