SHENZHEN TRANSSION (688036) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 13.00 billion, down 25.45% year-over-year.

• Net profit attributable to shareholders was RMB 490 million, a 69.87% decrease year-over-year.

• Cash flow from operating activities was negative RMB 740 million, a significant decline from the prior year.

• EPS was RMB 0.43, down 70.14% year-over-year.

Financial highlights

• Gross margin and operating profit both declined due to lower revenue and increased market competition.

• R&D investment was RMB 579.8 million, stable year-over-year, with R&D ratio rising to 4.46%.

• Total assets at quarter-end were RMB 43.49 billion, down 3.49% from year-end 2024.

• Shareholders’ equity increased 2.67% to RMB 20.77 billion.

Outlook and guidance

• Management attributes profit and revenue declines to intensified market competition and supply chain cost pressures.

• No forward-looking quantitative guidance provided.