XCMG Construction Machinery (000425) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 26.81 billion, up 10.92% year-over-year.

• Net profit attributable to shareholders was RMB 2.02 billion, a 26.37% increase year-over-year.

• Operating cash flow surged 257.23% to RMB 826 million compared to the same quarter last year.

• Basic and diluted EPS both rose to RMB 0.171, up 26.67% year-over-year.

• Total assets at quarter-end were RMB 171.75 billion, up 6.70% from year-end 2024.

Financial highlights

• Gross margin improved as net profit growth outpaced revenue growth.

• Net profit excluding non-recurring items was RMB 2.01 billion, up 36.88% year-over-year.

• Government subsidies and financial asset fair value changes contributed to non-recurring gains.

• Cash and cash equivalents at quarter-end stood at RMB 15.93 billion.

• Return on equity (ROE) increased by 0.54 percentage points to 3.35%.

Key financial ratios and metrics

• Operating margin and net margin both improved year-over-year.

• Basic and diluted EPS: RMB 0.171, up from RMB 0.135 year-over-year.

• Net cash from operating activities: RMB 826 million, up from RMB 231 million year-over-year.

• Total equity attributable to shareholders: RMB 61.43 billion, up 3.58% from year-end.