Executive Summary
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.
Key Performance Indicators
QoQ: -53.97% | YoY:-41.90%
QoQ: -53.94% | YoY:-41.90%
Key Insights
Revenue: CNY 456.02 million; QoQ growth: +4.34%; YoY growth: +17.74%; Gross Profit: CNY 239.91 million; Gross Margin: 52.61%; EBITDA: CNY 170.29 million; Operating Income: CNY 146.26 million; Operating Margin: 32.07%; Total Other Income/Expenses: CNY -72.32 million; Income Before Tax: CNY 73.93 million; Income Tax: CNY 24.12 million; Net Income: CNY 31.10 million; Net Margin: 6.82%; EPS: CNY 0.0251; Diluted EPS: CNY 0.0245; Weighted Avg Shares: 1,270.85 million....
Financial Highlights
Revenue: CNY 456.02 million; QoQ growth: +4.34%; YoY growth: +17.74%; Gross Profit: CNY 239.91 million; Gross Margin: 52.61%; EBITDA: CNY 170.29 million; Operating Income: CNY 146.26 million; Operating Margin: 32.07%; Total Other Income/Expenses: CNY -72.32 million; Income Before Tax: CNY 73.93 million; Income Tax: CNY 24.12 million; Net Income: CNY 31.10 million; Net Margin: 6.82%; EPS: CNY 0.0251; Diluted EPS: CNY 0.0245; Weighted Avg Shares: 1,270.85 million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
456.02M |
17.74% |
4.34% |
| Gross Profit |
239.91M |
22.05% |
-2.38% |
| Operating Income |
146.26M |
29.12% |
-1.90% |
| Net Income |
31.10M |
-41.90% |
-53.97% |
| EPS |
0.03 |
-41.90% |
-53.94% |
Management Commentary
Note: No earnings call transcript content was provided in the available data. Consequently, management commentary, strategic color, and qualitative guidance from QQ1 2025 were not extractable from the supplied material.
Forward Guidance
No explicit forward guidance was disclosed in the QQ1 2025 release. Given the current quarter’s strong revenue growth and margin profile but a notable drag from negative other income/expenses, investors should monitor: (1) the sustainability of revenue growth drivers (product mix, end-market demand in coatings/plastics/cosmetics, geographic exposure), (2) normalization or resolution of non-operating items contributing to the large negative line item, (3) potential changes in raw material costs and working capital dynamics, and (4) any management commentary in HKEX filings or subsequent quarters about capex, pricing strategy, and regional expansion.