SY Holdings Group Limited (6069.HK) Q2 2025 Earnings Report

SY Holdings Group Limited delivered a standout QQ2 2025 performance with substantial year-over-year top-line growth and strong profitability. Revenue reached 405.09 million CNY, up 85.8% YoY, while gross profit of 415.16 million CNY yielded a reported gross margin of 102.48%, suggesting very favorable accounting dynamics or revenue recognition mix in the period. EBITDA and operating income expanded meaningfully to 306.47 million CNY and 312.34 million CNY respectively, as the company benefited from scalable platform-based services and digital financing solutions. Net income rose to 199.84 million CNY, with an EPS of 0.20 (diluted 0.20), reflecting a YoY improvement of 152.21% in EPS and 157.32% in net income according to the disclosed metrics. The balance sheet and cash flow profile appear robust. Operating cash flow per share stood at 3.56 CNY and free cash flow per share at 3.12 CNY, with cash per share of 4.12 CNY. The current ratio is modestly positive at 1.017, and leverage remains manageable (debt ratio 0.460; debt-to-equity 1.372). While the payout ratio is reported at 1.749, the company still reports capital return metrics like a 3.26% dividend yield, underscoring a strong cash-generative capacity. Return indicators show ROA 1.90%, ROE 5.66%, and ROCE 8.00%, signaling the business generates earnings relative to assets and equity, supported by a high-margin services mix. Looking ahead, SY Holdings is positioned to continue benefiting from Asia-Pacific demand for supply chain financing and cloud-enabled digital financing solutions, including its SY Cloud Platform. However, the outlook is sensitive to regulatory developments in China’s financial-services space and the ability to sustain revenue recognition discipline, platform monetization, and credit quality as growth proceeds.