Executive Summary
Zhongguancun ScienceTech Leasing reported QQ1 2025 revenue of RMB 193.4 million with a full gross margin, yielding an operating income of RMB 94.31 million and a net income of RMB 70.74 million. The quarterly results imply a robust operating discipline: operating margin of 48.8% and net margin of 36.6% on revenue of RMB 193.4 million. YoY revenue declined 6.6% (from RMB 207.06 million in Q1 2024) but net income rose about 5.4% YoY, reflecting a favorable cost-to-revenue mix and disciplined expense management. QoQ, revenue and gross profit surged by ~343% driven by a substantial rebound from the prior quarter, which shows a negative Q4 2024 reading (-RMB 79.58 million). This sharp QoQ rebound points to quarter-to-quarter cyclicality common in project-based lending/financing cycles but also underscores improved near-term profitability dynamics.
Key Performance Indicators
QoQ: 343.05% | YoY:-6.58%
QoQ: 343.05% | YoY:-6.58%
Key Insights
Revenue: RMB 193,424,894; YoY change: -6.58%; QoQ change: 343.05%
Gross Profit: RMB 193,424,894; YoY: -6.58%; QoQ: 343.05%; Gross Profit Margin: 100.00% (note: cost of revenue data appears missing or not separately disclosed)
Operating Income: RMB 94,314,068; YoY: 3.50%; QoQ: 132.98%; Operating Margin: 48.76%
Net Income: RMB 70,743,322; YoY: 5.37%; QoQ: 24.49%; Net Margin: 36.57%
EPS (diluted): RMB 0.0531; YoY: 5.36%; QoQ: 24.65%
Weighted Average Shares (out): 1,333,345,684
Tax Rate: 25.0% (2357...
Financial Highlights
Revenue: RMB 193,424,894; YoY change: -6.58%; QoQ change: 343.05%
Gross Profit: RMB 193,424,894; YoY: -6.58%; QoQ: 343.05%; Gross Profit Margin: 100.00% (note: cost of revenue data appears missing or not separately disclosed)
Operating Income: RMB 94,314,068; YoY: 3.50%; QoQ: 132.98%; Operating Margin: 48.76%
Net Income: RMB 70,743,322; YoY: 5.37%; QoQ: 24.49%; Net Margin: 36.57%
EPS (diluted): RMB 0.0531; YoY: 5.36%; QoQ: 24.65%
Weighted Average Shares (out): 1,333,345,684
Tax Rate: 25.0% (23570744 / 94314066 ≈ 25.0%)
Expenses Breakdown (Total Operating Expenses): RMB 99,110,826
General and Administrative: RMB 12,399,174
Selling and Marketing: RMB 13,036,103
Selling, General and Administrative: RMB 25,435,277
Other Expenses: RMB 73,675,549
Note: The data shows “cost of revenue” as not disclosed, resulting in a 100% gross margin figure; this should be treated with caution until cost of revenue is clarified.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
193.42M |
-6.58% |
343.05% |
| Gross Profit |
193.42M |
-6.58% |
343.05% |
| Operating Income |
94.31M |
3.50% |
132.98% |
| Net Income |
70.74M |
5.37% |
24.49% |
| EPS |
0.05 |
5.36% |
24.65% |
Management Commentary
Transcript highlights not provided in the input. No management quotes or call highlights are available to cite. If you can share the earnings call transcript, I will extract themes by strategy, operations, and market conditions with direct quotes and context.
Forward Guidance
There is no explicit forward-looking guidance in the provided data. Given the sector dynamics, the company would typically monitor: (1) credit demand and quality in the tech-focused leasing portfolio, (2) potential mix shifts toward equity-based financing within technology ventures, (3) regulatory changes affecting financial leasing and asset-backed lending, and (4) macroeconomic variables impacting technology investment cycles in China. An assessment of achievability of any implied targets would hinge on continued tech-sector financing demand, resolution of any accounting ambiguities around cost of revenue, and the stability of the regulatory environment. Investors should watch trajectory of new originations in QQ2 2025, any changes in impairment allowances, and liquidity coverage given limited balance sheet visibility in the current data set.