Executive Summary
Xiangxing International reported QQ1 2025 revenue of CNY 51.84 million, down 13.9% year-over-year and 7.7% quarter-over-quarter. Despite a softer top line, the quarter delivered a tangible improvement in operating performance: gross profit of CNY 12.55 million with a gross margin of 24.22%, EBITDA of CNY 6.33 million, and net income of CNY 3.50 million (EPS of CNY 0.0027). The company moved from a Q4 2024 operating loss to a positive operating income in Q1 2025, signaling improved operating leverage and fixed-cost absorption as volumes stabilized at the quarter level. The YoY revenue decline appears driven by softer demand amid macro headwinds and seasonality, while the sequential margin expansion reflects better cost control and a more favorable product/service mix within Xiangxing’s integrated freight and intraport services footprint. Management commentary (where available) points toward ongoing optimization of capacity, service mix, and network utilization, but explicit forward guidance was not disclosed in the provided materials. With limited disclosure on balance sheet metrics and cash flow, investors should weigh the improving profitability against the still modest scale and revenue volatility typical of small-to-mid cap logistics players in China.
Key Performance Indicators
QoQ: -7.69% | YoY:-13.88%
QoQ: 214.01% | YoY:-3.59%
QoQ: 157.03% | YoY:-7.63%
QoQ: 155.10% | YoY:-12.90%
Key Insights
Revenue (QQ1 2025): CNY 51,836,000; YoY decline: -13.88%; QoQ decline: -7.69%. Gross Profit: CNY 12,553,000; Gross Margin: 24.22%; EBITDA: CNY 6,334,500; EBITDA Margin: 12.22%; Operating Income: CNY 4,981,000; Operating Margin: 9.61%; Total Other Income/Expenses Net: CNY -25,000; Income Before Tax: CNY 4,956,000; Income Tax Expense: CNY 1,487,000; Net Income: CNY 3,499,000; Net Margin: 6.75%; EPS: CNY 0.0027; Weighted Avg Shares (basic): 1,280,278,082; Weighted Avg Shares (diluted): 1,280,000,00...
Financial Highlights
Revenue (QQ1 2025): CNY 51,836,000; YoY decline: -13.88%; QoQ decline: -7.69%. Gross Profit: CNY 12,553,000; Gross Margin: 24.22%; EBITDA: CNY 6,334,500; EBITDA Margin: 12.22%; Operating Income: CNY 4,981,000; Operating Margin: 9.61%; Total Other Income/Expenses Net: CNY -25,000; Income Before Tax: CNY 4,956,000; Income Tax Expense: CNY 1,487,000; Net Income: CNY 3,499,000; Net Margin: 6.75%; EPS: CNY 0.0027; Weighted Avg Shares (basic): 1,280,278,082; Weighted Avg Shares (diluted): 1,280,000,000.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
51.84M |
-13.88% |
-7.69% |
| Gross Profit |
12.55M |
-1.24% |
38.14% |
| Operating Income |
4.98M |
-3.59% |
214.01% |
| Net Income |
3.50M |
-7.63% |
157.03% |
| EPS |
0.00 |
-12.90% |
155.10% |
Management Commentary
Note: The earnings call transcript was not provided within the prompt. As a result, this section cannot summarize management quotes or extract quoted guidance. Please supply the transcript to enrich this section with theme-based insights (strategy, operations, market conditions) and context for each quote.
Forward Guidance
There is no explicit forward guidance disclosed in the provided materials for QQ1 2025. Given the revenue deceleration versus year-ago levels and the sequential earnings improvement, investors may consider a baseline scenario in which Xiangxing sustains low-to-mid single-digit revenue trends while continuing to optimize cost structure and capacity utilization to protect margins. Key factors to monitor include: (1) volume recovery or further softness in core intraport and logistics services, (2) utilization of existing capacity and cost discipline to sustain margin stability, (3) pricing a djustments or service mix changes, and (4) any new capacity additions or network enhancements that could weigh on near-term profitability but support longer-term growth. If management provides target ranges or KPIs, those would be incorporated into a refined outlook.