Tongling Nonferrous Metals Group (000630) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached RMB 35.22 billion, up 7.65% year-over-year; net profit attributable to shareholders was RMB 1.13 billion, up 2.93%.

• Operating cash flow increased 25.59% year-over-year to RMB 1.54 billion.

• Total assets at quarter-end were RMB 86.00 billion, up 6.25% from year-end 2024.

Financial highlights

• Gross margin remained stable; basic and diluted EPS were both RMB 0.09, unchanged year-over-year.

• Net profit excluding non-recurring items was RMB 1.14 billion, up 3.72% year-over-year.

• Non-recurring losses totaled RMB 12.06 million, mainly from asset disposals and fair value changes.

• Cash and cash equivalents at quarter-end were RMB 9.01 billion, up from RMB 6.36 billion at the start of the year.

Key financial ratios and metrics

• Weighted average ROE was 3.28%, down 0.10 percentage points year-over-year.

• Asset-liability ratio at quarter-end was 49.5%.

• Inventory increased to RMB 21.31 billion, up from RMB 18.62 billion at year-end 2024.