Executive Summary
Bairong Inc delivered a solid QQ1 2025 performance, underscored by resilient topline growth and meaningful profitability against a backdrop of a competitive Chinese software infrastructure market. Revenue for the quarter totaled 805.90 million CNY, up 21.98% year over year, while gross profit reached 588.33 million CNY, translating to a gross margin of 0.730. Net income stood at 95.13 million CNY with basic EPS of 0.21 CNY. The company also posted EBITDA of 66.21 million CNY and an operating income of 100.45 million CNY, yielding an operating margin of approximately 12.46% and a net margin of about 11.80%. Management benefited from disciplined cost management in a quarter characterized by elevated R&D and SG&A investments.
Key Performance Indicators
Key Insights
Revenue: 805.90m CNY, YoY +21.98%, QoQ +0.24% | Gross Profit: 588.33m CNY, Gross Margin 73.00% | EBITDA: 66.21m CNY, EBITDA Margin 8.21% | Operating Income: 100.45m CNY, Operating Margin 12.46% | Net Income: 95.13m CNY, Net Margin 11.80% | EPS: 0.21 CNY, Diluted EPS: 0.21 CNY | R&D: 150.77m CNY | SG&A: 378.99m CNY | Other Expenses: -41.87m CNY | D&A: 7.64m CNY | Shares (avg): 453.01m (basic) / 455.14m (diluted)...
Financial Highlights
Revenue: 805.90m CNY, YoY +21.98%, QoQ +0.24% | Gross Profit: 588.33m CNY, Gross Margin 73.00% | EBITDA: 66.21m CNY, EBITDA Margin 8.21% | Operating Income: 100.45m CNY, Operating Margin 12.46% | Net Income: 95.13m CNY, Net Margin 11.80% | EPS: 0.21 CNY, Diluted EPS: 0.21 CNY | R&D: 150.77m CNY | SG&A: 378.99m CNY | Other Expenses: -41.87m CNY | D&A: 7.64m CNY | Shares (avg): 453.01m (basic) / 455.14m (diluted)
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
805.90M |
21.98% |
0.24% |
| Gross Profit |
588.33M |
22.55% |
0.18% |
| Operating Income |
100.45M |
28.10% |
56.46% |
| Net Income |
95.13M |
35.95% |
50.73% |
| EPS |
0.21 |
40.00% |
50.00% |
Management Commentary
Transcript highlights not provided in the dataset. Earnings call transcripts were not included in the supplied material, therefore management quotes and thematic quotes could not be extracted.
Forward Guidance
No formal forward guidance was provided in the supplied data. Given the quarter’s strong topline growth and stable profitability, investors should monitor: (1) trajectory of revenue growth driven by analytics and marketing software solutions for financial institutions; (2) progression of R&D and selling/general administration spend and their impact on operating leverage; (3) regulatory developments in China affecting data analytics, financial services distribution, and microloan/insurance channels; (4) client diversification beyond traditional banks to consumer finance and insurers. In the absence of explicit guidance, a base-case view assumes mid-teens revenue growth with stable gross margins and modest expansion in operating margins as scale benefits accrue.