China ITS (01900) announced its interim results for 2025, achieving revenue of RMB478.7 million, representing a 67.9% increase compared to the same period last year. Gross profit reached RMB246.6 million, up 107.8% year-over-year. Net profit attributable to shareholders was RMB361.6 million, turning from loss to profit compared to the previous year. Earnings per share stood at RMB0.21.

According to the announcement, the main reasons for turning profitable include: The group gained control of Hengtuo Kaiyuan on January 1, 2025, resulting in a fair value gain of approximately RMB350 million from remeasuring Hengtuo Kaiyuan at fair value on the acquisition date. In the first half of the year, fair value losses on financial assets amounted to RMB2.5 million, compared to RMB52.7 million in fair value losses on financial assets in the same period last year, representing a reduction of RMB52.2 million year-over-year. During the first half of the year, the net impact of operational factors including gross profit, other income and gains, selling and distribution expenses, administrative expenses, net impairment losses on financial and contract assets, other expenses, and finance costs resulted in a profit decrease of RMB7.5 million compared to the same period last year.