Denghai Seeds' Q1 revenue drops 30%, profit down 18%

Shandong Denghai Seeds (SZSE:002041) reported a 30.04% year-over-year decrease in revenue for the first quarter of 2025, with revenue falling to CNY 162,646,807.82. Net profit attributable to shareholders also declined by 18.37% to CNY 24,597,739.66. The drop was attributed to lower sales volumes compared to Q1 2024. Basic and diluted earnings per share both decreased by 18.13% to CNY 0.0280. Total assets decreased by 2.24% to CNY 4,769,032,284.73, while shareholder equity increased slightly by 0.68% to CNY 3,619,263,998.04. Operating cash flow improved marginally by 0.27%. The company noted a significant increase in deferred income tax liabilities due to fair value changes in wealth management products.