Executive Summary
United Strength Power delivered meaningful top-line growth in QQ2 2025, with revenue of 1,541,007,500 CNY, up 58.67% year-over-year and 100.00% quarter-over-quarter. Despite the revenue expansion, the company reported a net loss of 3,639,000 CNY and a negative EPS of -0.0097, underscoring a profitability gap that persists even as the network expansion and higher volumes drive activity. Gross profit rose to 75,649,500 CNY, yielding a thin gross margin of 4.91%, consistent with a capital-intensive, growth-oriented refueling- station roll-out in a competitive Chinese market. EBITDA stood at 8,496,500 CNY, with operating income of 3,495,000 CNY, indicating modest operating leverage but limited non-operating or one-off items framed the bottom line negatively in the period.
Key Performance Indicators
QoQ: 100.00% | YoY:58.67%
QoQ: 100.00% | YoY:32.82%
QoQ: 100.00% | YoY:-79.32%
QoQ: -100.00% | YoY:-135.66%
QoQ: -100.00% | YoY:-135.60%
Key Insights
Revenue: 1,541,007,500.00 CNY; YoY +58.67%; QoQ +100.00% | Gross Profit: 75,649,500.00 CNY; Margin 4.91%; YoY +32.82%; QoQ +100.00% | EBITDA: 8,496,500.00 CNY; EBITDA Margin 0.55% (EBITDARatio 0.55%) | Operating Income: 3,495,000.00 CNY; Margin 0.23%; YoY -79.32%; QoQ 100.00% | Net Income: -3,639,000.00 CNY; Net Margin -0.24%; YoY -135.66%; QoQ -100.00% | EPS: -0.0097 CNY; YoY -135.60%; QoQ -100.00% | Cash Flow Metrics: Operating Cash Flow per Share 0.426 CNY; Free Cash Flow per Share 0.414 CNY;...
Financial Highlights
Revenue: 1,541,007,500.00 CNY; YoY +58.67%; QoQ +100.00% | Gross Profit: 75,649,500.00 CNY; Margin 4.91%; YoY +32.82%; QoQ +100.00% | EBITDA: 8,496,500.00 CNY; EBITDA Margin 0.55% (EBITDARatio 0.55%) | Operating Income: 3,495,000.00 CNY; Margin 0.23%; YoY -79.32%; QoQ 100.00% | Net Income: -3,639,000.00 CNY; Net Margin -0.24%; YoY -135.66%; QoQ -100.00% | EPS: -0.0097 CNY; YoY -135.60%; QoQ -100.00% | Cash Flow Metrics: Operating Cash Flow per Share 0.426 CNY; Free Cash Flow per Share 0.414 CNY; Cash per Share 0.222 CNY; Dividend Yield 2.27%; Payout Ratio -1.878% (negative) | Liquidity & Leverage: Current Ratio 1.101x; Quick 0.392x; Cash 0.0482x; Debt Ratio 0.371x; Debt to Equity 1.846x; Long-Term Debt to Capitalization 0.0249; Total Debt to Capitalization 0.649x; ROA -0.299%; ROE -1.49%; ROCE 0.99% | Valuation: P/B 1.23x; P/S 0.195x; P/E negative; EV/EBITDA 83.60x; Dividend Yield 2.27%
Note: All figures in CNY. Shares outstanding ~374.54 million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.54B |
58.67% |
100.00% |
| Gross Profit |
75.65M |
32.82% |
100.00% |
| Operating Income |
3.50M |
-79.32% |
100.00% |
| Net Income |
-3.64M |
-135.66% |
-100.00% |
| EPS |
-0.01 |
-135.60% |
-100.00% |
Key Financial Ratios
operatingProfitMargin
0.23%
operatingCashFlowPerShare
$0.43
freeCashFlowPerShare
$0.41
dividendPayoutRatio
-187.8%
priceEarningsRatio
-20.66
Management Commentary
Note: No earnings call transcript is available in the provided data; unable to extract management quotes or themes. Once transcript access is obtained, a themes-based synthesis (strategy, operations, market conditions, guidance) with direct quotes will be added.
Forward Guidance
There is no explicit management guidance presented in the provided data for QQ2 2025. Given the revenue momentum and ongoing capex in expanding the refueling network, the key implicit drivers would be volume growth from rising natural gas vehicle adoption and efficiency gains in station operations. Our forward view emphasizes monitoring: (1) station utilization and network expansion tempo versus capex cadence; (2) gross margin trajectory as fixed costs are absorbed over larger volume; (3) liquidity evolution given thin cash ratios; and (4) regulatory developments affecting gas pricing, subsidies, and renewable-energy competition. In baseline, profitability needs to improve from current levels to support a more constructive valuation, while ongoing cash flow generation could support deleveraging or selective capex funding if margins stabilize.