Executive Summary
Yijia Group Corp (YJGJ) reported a compelling QQ2 2025 performance characterized by a sharp sequential revenue rebound and margin expansion, alongside a strong balance sheet with a sizable net cash position. On a QoQ basis, revenue surged to 292.1 million USD (reported in USD), up 169.3% from Q1 2025, while gross profit rose to 155.8 million USD, pushing gross margin to 53.3%. Operating income reached 62.6 million USD (operating margin ~21.4%), and net income was 32.6 million USD (net margin ~11.2%), with EPS of 0.0036. These results reflect meaningful operating leverage and a favorable mix that lifted profitability despite a challenging macro backdrop for many services providers.
The cash flow profile remains solid. Operating cash flow was 8.8 million USD for the quarter, with free cash flow also reported at 8.8 million USD. The company ended the period with a cash balance of approximately 222.8 million USD and a net cash position of -222.8 million USD (net debt = -222,795), indicating a cash-rich balance sheet and no long-term debt. Notably, working capital movements in QQ2 were material, with a large change in working capital (449.5 million USD) and substantial other working capital items (596.9 million USD), partially offset by a negative non-cash adjustment (-474.2 million USD).
Valuation metrics imply a sizable premium relative to some material peers, with a price-to-sales around 15.4x and an EV/sales around 68x, alongside a price-to-book of 4.35x. Given the company’s ability to generate cash, maintain liquidity, and scale QoQ revenue, the QQ2 performance supports a constructive near-term outlook contingent on sustained demand and prudent working capital management. The absence of a contemporaneous earnings call transcript in the provided data limits management commentary in this report; where available, quotes have been incorporated from the quarter’s disclosed metrics and peer context.
Key Performance Indicators
QoQ: 237.84% | YoY:815.02%
QoQ: 159.13% | YoY:472.90%
QoQ: 263.64% | YoY:340.00%
Key Insights
Revenue: 292,118 (USD thousands) for QQ2 2025, QoQ change +169.29%; YoY not disclosed in the provided data. Gross Profit: 155,834, Gross Margin: 53.35% (0.5335). QoQ gross profit growth +112.97%. Operating Income: 62,600, Operating Margin: 21.43% (0.2143). QoQ operating income growth +237.84%; YoY growth +815.02%. Net Income: 32,647, Net Margin: 11.18% (0.1118). QoQ net income growth +159.13%; YoY growth +472.90%. Earnings Per Share (EPS): 0.0036; QoQ growth +263.64%; YoY growth +340.00%. Balanc...
Financial Highlights
Revenue: 292,118 (USD thousands) for QQ2 2025, QoQ change +169.29%; YoY not disclosed in the provided data. Gross Profit: 155,834, Gross Margin: 53.35% (0.5335). QoQ gross profit growth +112.97%. Operating Income: 62,600, Operating Margin: 21.43% (0.2143). QoQ operating income growth +237.84%; YoY growth +815.02%. Net Income: 32,647, Net Margin: 11.18% (0.1118). QoQ net income growth +159.13%; YoY growth +472.90%. Earnings Per Share (EPS): 0.0036; QoQ growth +263.64%; YoY growth +340.00%. Balance Sheet and Cash Flow: Cash and cash equivalents 222,795; Net cash position (net debt) -222,795; Current ratio 5.62, Quick ratio 4.27, Cash ratio 0.995. Days liquidity/operating cycle: DSO 17.78 days; DIO 200.16 days; DPO 45.81 days; CCC 172.12 days. Cash flow from operations 8,760; Free cash flow 8,760; Capital expenditure -1; Net change in cash 81,160; Cash at end of period 222,795. Valuation benchmarks (selected): P/S ~15.41x; P/B ~4.35x; P/E ~34.48x; EV/SALES ~68.04x; Price to Free Cash Flows ~513.95x; Price to Operating Cash Flows ~513.95x; Dividend yield 0%. Current equity: total stockholders’ equity 1,034,874; total assets 1,258,812; total liabilities 223,938. The company reports a robust liquidity profile with no long-term debt and a strong cash cushion.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
292.12K |
N/A |
169.29% |
| Gross Profit |
155.83K |
N/A |
112.97% |
| Operating Income |
62.60K |
815.02% |
237.84% |
| Net Income |
32.65K |
472.90% |
159.13% |
| EPS |
0.00 |
340.00% |
263.64% |
Key Financial Ratios
operatingProfitMargin
21.4%
operatingCashFlowPerShare
$0
Management Commentary
No earnings call transcript was provided in the data set. As a result, there are no management quotes or verbatim highlights to summarize from an earnings call. The analysis therefore relies on the disclosed financial results and balance sheet dynamics for QQ2 2025. If a transcript becomes available, a thematic synthesis covering strategy, operations, and market conditions will be provided.
Forward Guidance
No explicit forward guidance was issued in the provided data. Given the QQ2 2025 outturn, investors should monitor: (1) whether the revenue momentum can be maintained beyond QQ2, (2) the sustainability of working capital dynamics and whether large other working capital items normalize, (3) the trajectory of gross and operating margins as the business scales, and (4) any updates to management’s strategic priorities, such as international expansion or new service lines. In absence of formal guidance, the quantitative signals (strong QoQ revenue growth, solid margins, and a net cash balance) support a cautiously favorable view, contingent on demand stability and disciplined capital management.