Global New Material (6616.HK) Q1 2025 Earnings Report

Global New Material International Holdings Limited reported QQ1 2025 revenue of CNY 456.0 million, up 17.7% year over year driven by volume and/or product mix in its pearlescent pigment business. Gross profit reached CNY 239.9 million with a robust gross margin of 52.6%, underscoring the company’s pricing power and product mix within its pigment portfolio. EBITDA stood at CNY 170.3 million and operating income at CNY 146.3 million, translating to an operating margin of ~32.1%. Net income, however, was CNY 31.1 million, with a net margin of 6.8%, reflecting a substantial negative contribution from total other income/expenses of CNY -72.3 million during the quarter and a tax expense of CNY 24.1 million on a pre-tax income of CNY 73.9 million.