Executive Summary
Huitongda Network reported QQ1 2025 revenue of 12.17 billion CNY, down 25.91% year-over-year and 10.52% quarter-over-quarter. Despite the topline decline, the company delivered a modest improvement in gross margin to 4.64% and achieved positive operating income of 178.06 million CNY with an EBITDA of 162.28 million CNY, signaling early operating leverage as the mix shifts toward higher-margin services. Net income stood at 69.30 million CNY (net margin 0.57%), with basic EPS of 0.13 CNY and diluted EPS of 0.12 CNY. The results reflect ongoing macro headwinds in the Chinese retail/software space and a cost structure weighted toward cost of revenue and SG&A, but also show some sequential margin stabilization and a path toward profitability through mix optimization and cost discipline.
Key Performance Indicators
QoQ: -10.52% | YoY:-25.91%
Key Insights
Revenue: 12,170,967,000 CNY; YoY -25.91%, QoQ -10.52%; Gross Profit: 564,936,500 CNY; Gross Margin: 4.64%; EBITDA: 162,284,500 CNY; EBITDA Margin: 1.33%; Operating Income: 178,061,000 CNY; Operating Margin: 1.46%; Net Income: 69,303,000 CNY; Net Margin: 0.57%; EPS: 0.13 (diluted 0.12); Cost of Revenue: 11,606,030,500 CNY; R&D: 14,786,500 CNY; SG&A (G&A + Selling & Marketing): 477,? million shows data inconsistency, R&D 14.79M; General & Administrative 73.09M; Selling &...
Financial Highlights
Revenue: 12,170,967,000 CNY; YoY -25.91%, QoQ -10.52%; Gross Profit: 564,936,500 CNY; Gross Margin: 4.64%; EBITDA: 162,284,500 CNY; EBITDA Margin: 1.33%; Operating Income: 178,061,000 CNY; Operating Margin: 1.46%; Net Income: 69,303,000 CNY; Net Margin: 0.57%; EPS: 0.13 (diluted 0.12); Cost of Revenue: 11,606,030,500 CNY; R&D: 14,786,500 CNY; SG&A (G&A + Selling & Marketing): 477,? million shows data inconsistency, R&D 14.79M; General & Administrative 73.09M; Selling & Marketing 231.20M; Selling, General & Administrative 404.06M; Other Expenses: -31.97M; Total Operating Expenses: 386,875,500 CNY; Net Income to Revenue cycle indicates tight profitability with macro headwinds; Weighted Average Shares Outstanding: 577,529,812; Diluted Weighted Average Shares: 554,217,102
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
12.17B |
-25.91% |
-10.52% |
| Gross Profit |
564.94M |
-1.08% |
-3.15% |
| Operating Income |
178.06M |
15.88% |
22.54% |
| Net Income |
69.30M |
10.81% |
-4.18% |
| EPS |
0.13 |
18.18% |
0.00% |
Management Commentary
Transcript highlights not provided in the dataset.
Forward Guidance
No explicit forward guidance was provided in the dataset. Given QQ1 2025 results, near-term guidance would hinge on (1) monetization and adoption of higher-margin SaaS/merchant-solution offerings (e.g., Super Boss platform), (2) continued cost discipline to realize operating leverage as revenue stabilizes, and (3) macro demand recovery in China's retail technology space. Investors should monitor revenue trajectory trends, mix shift toward services, and any management commentary on customer retention, onboarding of new merchants, and efficiency improvements that could lift margins toward mid-single digits.