Huitongda Network Co Ltd
9878.HK
HKD13.02 -2.47%
Exchange: HKSE | Sector: Technology | Industry: Software Application
Q1 2025
Published: Mar 31, 2025

Earnings Highlights

  • Revenue of $12.17B down 25.9% year-over-year
  • EPS of $0.12 increased by 18.2% from previous year
  • Gross margin of 4.6%
  • Net income of 69.30M
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Huitongda Network Co Ltd (9878.HK) QQ1 2025 Results: Revenue Decline Amid Margin Stabilization and Incremental Operating Leverage

Executive Summary

Huitongda Network reported QQ1 2025 revenue of 12.17 billion CNY, down 25.91% year-over-year and 10.52% quarter-over-quarter. Despite the topline decline, the company delivered a modest improvement in gross margin to 4.64% and achieved positive operating income of 178.06 million CNY with an EBITDA of 162.28 million CNY, signaling early operating leverage as the mix shifts toward higher-margin services. Net income stood at 69.30 million CNY (net margin 0.57%), with basic EPS of 0.13 CNY and diluted EPS of 0.12 CNY. The results reflect ongoing macro headwinds in the Chinese retail/software space and a cost structure weighted toward cost of revenue and SG&A, but also show some sequential margin stabilization and a path toward profitability through mix optimization and cost discipline.

Key Performance Indicators

Revenue

12.17B
QoQ: -10.52% | YoY:-25.91%

Gross Profit

564.94M
4.64% margin
QoQ: -3.15% | YoY:-1.08%

Operating Income

178.06M
QoQ: 22.54% | YoY:15.88%

Net Income

69.30M
QoQ: -4.18% | YoY:10.81%

EPS

0.13
QoQ: 0.00% | YoY:18.18%

Revenue Trend

Margin Analysis

Key Insights

Revenue: 12,170,967,000 CNY; YoY -25.91%, QoQ -10.52%; Gross Profit: 564,936,500 CNY; Gross Margin: 4.64%; EBITDA: 162,284,500 CNY; EBITDA Margin: 1.33%; Operating Income: 178,061,000 CNY; Operating Margin: 1.46%; Net Income: 69,303,000 CNY; Net Margin: 0.57%; EPS: 0.13 (diluted 0.12); Cost of Revenue: 11,606,030,500 CNY; R&D: 14,786,500 CNY; SG&A (G&A + Selling & Marketing): 477,? million shows data inconsistency, R&D 14.79M; General & Administrative 73.09M; Selling &...

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 24,341.93 0.24 +79.0% View
Q1 2025 12,170.97 0.12 -25.9% View
Q4 2024 13,601.78 0.13 -30.4% View
Q3 2024 13,601.78 0.13 -30.4% View