Sohu.com (SOHU) Q1 2025 Earnings Call May 19, 2025 07:30 AM ET Company Participants Pu Huang - Director, IRCharles Zhang - Founder, Chairman & CEOJoanna Lv - CFOThomas Chong - Managing DirectorNone - Executive Conference Call Participants Alicia Yap - Analyst Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After management's prepared re ...

Financial Performance and Key Metrics - In Q1 2025, total revenues were $136 million, down 3% year-over-year and up 1% quarter-over-quarter [7] - Marketing services revenues were $14 million, down 15% year-over-year and 27% quarter-over-quarter [7] - Online game revenues were $117 million, flat year-over-year and up 7% quarter-over-quarter [7] - GAAP net income was $182 million compared to a net loss of $25 million in Q1 2024 [8] - Non-GAAP net loss was $16 million compared to a net loss of $22 million in Q1 2024 [8] Business Line Performance - Sohu Media platform revenues were $70 million, compared to $20 million in the same quarter last year, with an operating loss of $70 million [19] - Changyou's quarterly revenues were $180 million, down from $190 million in the same quarter last year, with an operating profit of $55 million [19] Market Data and Key Metrics - For Q2 2025, marketing services revenues are expected to be between $60 million and $70 million, implying a year-over-year decrease of 14% to 19% [20] - Online game revenues are expected to be between $96 million and $106 million, implying a year-over-year decrease of 28% to 35% [20] Company Strategy and Industry Competition - The company is focusing on enhancing its social media platform and leveraging unique IPs for monetization opportunities [6] - The online gaming business is adopting a top game strategy, diversifying its portfolio with various game types, and expanding into global markets [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising sentiment is mixed, with the auto sector performing better while luxury goods and alcohol spending is declining [24] - The company expects a similar trend in advertising for the second half of the year, with a focus on accelerating growth through its social network platform [25] - AI is seen as beneficial for the gaming business, improving efficiency in art design and production [29] Other Important Information - The company reversed a tax expense previously recognized, amounting to approximately $199 million, which was an accounting treatment issue rather than a cash flow event [8][42] Q&A Session Summary Question: Recent trend in advertising sentiment and outlook for the second half - Management indicated that the auto sector is performing better, while luxury goods and alcohol spending is declining, with expectations for a similar trend in the second half [24][25] Question: Impact of AI on advertising and online games - Management stated that AI has a marginal impact on the media platform but is beneficial for gaming, improving efficiency in various production aspects [26][29] Question: Details on the tax reversal - The tax reversal was an accounting issue related to uncertainty that has now been resolved, with no actual cash flow involved [42][45] Question: ADR delisting risk and alternative plans - Management noted that the situation is speculative and that they would consider alternatives if necessary, but currently, there are no immediate plans [48][52]

Zhejiang Leapmotor Technology (09863) Q1 2025 Earnings Call May 19, 2025 07:00 AM ET Moderator Hello, everyone. Welcome to join BIGmotor Q1 Call. And today's host, Yun Xin Shi, Chief Auto Analyst at Citi Securities. Also online is Kankai Auto Analyst of our team. Management representative is Mr. Yiten Fei Fei, CFO of Leaf Motor Mr. Yuchang, Co President and Mr. Shen Ke, Board Secretary. First, Mr. Shen Ke will announce the disclaimer. Thank you, distinguished investors. Good evening. Management of this call ...

Financial Data and Key Metrics Changes - In Q1 2025, the company's revenue reached RMB 12 billion, representing an annual increase of approximately 187% [5] - The gross profit margin in Q1 was 14.9%, up from 13.3% in Q4 2024, attributed to increased sales and an optimized portfolio [5][17] - The net loss for Q1 was about RMB 130 million, a significant reduction from approximately RMB 1 billion in the previous year [6] - The company reported RMB 25.7 billion in cash reserves, indicating strong capital availability [6] Business Line Data and Key Metrics Changes - The delivery volume of C cars in Q1 reached about 60,000 units, contributing to a total of 700,000 units delivered [6] - The newly released Dayton model achieved sales of 18,000 units shortly after its launch [7] - R&D expenses increased to RMB 800 million, reflecting a 52% year-on-year rise due to greater investment in labor and R&D costs [18] Market Data and Key Metrics Changes - The company plans to expand its retail presence, targeting over 1,000 stores, with 800 stores already established in Q1 [59] - The company aims to penetrate second-tier cities, expecting to add over 80 cities of second level or below [11] Company Strategy and Development Direction - The company is focused on enhancing investments in smart driving technology, with anticipated investments exceeding RMB 1 billion [11] - Strategic cooperation with Stellantis aims to localize assembly and manufacturing in Malaysia and Europe by the end of 2025 [15] - The company emphasizes technological innovation and social responsibility, having received an ISG International certificate for its environmental, social, and governance performance [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining robust sales in Q2, expecting sales to reach between 130,000 to 140,000 units [25] - The company aims for annual sales targets of 500,000 to 600,000 units, with a gross profit margin close to 10% [26] - Management acknowledged potential slight declines in gross profit margin in Q2 due to the launch of new models but remains optimistic about achieving annual objectives [24][26] Other Important Information - The company has expanded its overseas operations, ranking top in export volume among competitors [14] - The integration of Qualcomm chips into the company's architecture has enhanced its product offerings and competitiveness [10][9] Q&A Session Summary Question: What are the expectations for gross profit margin in Q2? - Management indicated that while Q1 performance was robust, a slight decline in gross profit margin is expected in Q2 due to new model launches [24][21] Question: What is the percentage of revenue from strategic cooperation? - Specific data on revenue from strategic cooperation was not disclosed, but management noted that gross profit margins for complete vehicles in Q1 were similar to those in 2024 [27][28] Question: How will the company handle tariffs in overseas markets? - The company plans to follow market-based pricing strategies and prioritize market share over immediate profits in the early stages of international expansion [46][47] Question: What is the target for channel stores? - The company aims to exceed 1,000 stores, with a focus on ensuring dealer profitability and quality in channel development [59][60] Question: How does the company plan to address battery supply pressures? - Management stated that battery supply issues are expected to be resolved by May, ensuring sufficient supply for production [62]

Financial Data and Key Metrics Changes - Revenues decreased by 3.3%, impacted by lower hardware sales and pricing activities from the previous year [9][28] - EBITDAaL increased by 0.4% year on year, with operational optimizations contributing to growth despite revenue decline [9][28] - The company confirmed its full-year guidance, including a 2.7% expected growth in dividend per share for 2025 [10][38] Business Line Data and Key Metrics Changes - The new product portfolio, Swiss Connect, was launched, focusing on customer loyalty and increased roaming services [12][13] - Mobile postpaid net additions were 12,000, while internet net additions were 5,000, despite reduced promotional activities [22] - The FMC (Fixed Mobile Convergence) quota increased to 58.3%, indicating a positive trend in bundled product offerings [23] Market Data and Key Metrics Changes - The company experienced a softer trading environment in Q1, influenced by intentional reductions in commercial activities due to upcoming price rises [6][22] - Price increases of 1.8% for the main brand and 1.5% for the flanker brand were implemented, with expectations of positive impacts on revenue and ARPU in future quarters [15][25] Company Strategy and Development Direction - The company is positioning itself as a technology leader with the launch of 5G standalone technology, achieving 99.5% coverage in Switzerland [20][21] - The strategy includes a focus on innovation, service, and loyalty rather than solely on price promotions [54] - The company plans to delist its ADS in August 2025, which is expected to simplify operations and reduce costs [10][41] Management's Comments on Operating Environment and Future Outlook - Management noted that the competitive environment is fragile, with a need for rationalization in pricing behavior across the industry [52][54] - The company anticipates softer trading in Q2, primarily in terms of net additions, but expects revenue to benefit from price increases [60][62] - Management expressed confidence in achieving financial guidance and highlighted the importance of the new product portfolio in driving future growth [46][38] Other Important Information - The company reported a decline in non-subscription revenues, primarily due to lower hardware sales, but expects normalization in the coming quarters [30][64] - Adjusted free cash flow was reported at minus €117 million, influenced by capital expenditures and seasonal factors [29][36] Q&A Session Summary Question: Competitive environment and promotional spend - Management acknowledged that net prices in mobile have increased, and competitors have followed suit with price rises [51][52] - Promotional spend was reduced during the price increase process to avoid conflicting messages about discounts [56] Question: Trading in Q2 and hardware revenue evolution - Management confirmed that Q2 trading would be softer in terms of net additions, but revenue would benefit from price rises [60][62] - Non-subscription revenue decline is expected to normalize, with future hardware launches anticipated to improve performance [64] Question: Split of net adds and revenue phasing - Management did not provide a split of net adds by brand but indicated stability in brand dynamics [72] - Revenue decline was partially driven by hardware-related revenues, with expectations for stabilization in subsequent quarters [73]

Sunrise Communications (SNRE) Q1 2025 Earnings Call May 19, 2025 04:30 AM ET Company Participants Alex Herrmann - VP - IR ,Corporate Finance and TreasuryAndré Krause - CEOJany Fruytier - CFOAndrew Lee - Managing DirectorPolo Tang - Managing Director Conference Call Participants Maurice Patrick - Analyst Operator Ladies and gentlemen, welcome to the Sunrise First Quarter twenty twenty five Financial Results Conference Call and Live Webcast. I am Sandra, the Chorus Call operator. I would like to remind you th ...

Financial Data and Key Metrics Changes - Revenues decreased by 3.3%, impacted by lower hardware sales and pricing adjustments from the previous year [8][27] - EBITDAaL increased by 0.4% year on year, with operational optimizations contributing to growth despite revenue decline [8][28] - The company confirmed its full-year guidance, including a 2.7% expected growth in dividend per share for 2025 [9][46] Business Line Data and Key Metrics Changes - The mobile postpaid segment saw 12,000 net additions, while the Internet segment had 5,000 net additions, despite reduced promotional activities [21] - The FMC (Fixed Mobile Convergence) quota increased to 58.3%, reflecting a positive trend in bundled product offerings [22] - ARPU for mobile decreased to CHF 28.6, a reduction of CHF 1.1 year on year, primarily due to lower roaming usage [22][23] Market Data and Key Metrics Changes - The company launched a new product portfolio called Swiss Connect, which includes enhanced roaming services and loyalty rewards [11][12] - Price increases were implemented across all brands, with the main brand seeing a 1.8% increase and the flanker brand a 1.5% increase [14] - The company is the first operator in Switzerland to launch 5G standalone technology, achieving 99.5% POP coverage [19][20] Company Strategy and Development Direction - The company is focusing on a "more for more" strategy, enhancing customer offerings while increasing prices [11][45] - There is an emphasis on technology leadership, particularly with the rollout of 5G standalone technology [20][46] - The company aims to improve customer loyalty through new product offerings and rewards programs [12][15] Management's Comments on Operating Environment and Future Outlook - Management noted a softer trading environment in Q1, which is expected to continue into Q2 due to reduced promotional activities [6][45] - The competitive landscape is described as fragile, with a need for rationalization in pricing behavior among competitors [52][54] - Management remains optimistic about revenue growth from price increases and new product launches in the coming quarters [61][62] Other Important Information - The company plans to delist its ADS in August 2025, with 82% of Class A and 98% of Class B shares already converted [10][41] - The dividend payment for 2024 has been executed, and the company expects to propose a dividend of CHF 3.42 for Class A shares for 2025 [9][40] Q&A Session Summary Question: Competitive environment and promotional spend - Management observed that net prices in mobile have increased, and competitors have followed suit with price rises [51][52] - Promotional spend was reduced during the price increase process to avoid conflicting messages [55] Question: Clarification on softer trading in Q2 - Softer trading refers to net additions, while revenue is expected to benefit from price rises [59][61] Question: Evolution of non-subscription revenues - A significant decline in non-subscription revenues is expected to normalize in the coming quarters [63] Question: Impact of ADS delisting on savings - Savings from deregistration will start to appear in 2026, following a three-step process [65][66]

Financial Data and Key Metrics Changes - In Q1 2025, market spot rates for Hetty Seizen and Supramax vessels averaged $8,000 and $7,900 net per day, respectively, representing a decrease of 24% to 36% compared to the same period in 2024 [3][4] - The average Handysize and Supramax daily time charter equivalent earnings were $10,940 and $12,210 per day, respectively, reflecting a year-on-year decrease of 11% [6][7] - The operating activity generated a daily average margin of $830 per day over $6,950 in Q1, representing an increase of 634% year on year [8][9] Business Line Data and Key Metrics Changes - Global minor bulk loadings increased by approximately 2% year on year, driven by higher loading of bauxite, cement, and clinker [4] - Global grain loadings decreased by 16% year on year, influenced by reduced Chinese demand and harvest delays in Brazil [4][5] - Global coal loadings dropped by 5% year on year, primarily due to an 11% decline in seaborne coal volumes to China [5][6] Market Data and Key Metrics Changes - Iron ore loadings declined by 7% year on year, mainly due to reduced Australian iron ore loadings caused by cyclones [6] - The Baltic Exchange Forward Freight Agreement average rates for the remainder of 2025 are projected at $9,120 for Hetty Seizen and $9,860 for Supramax vessels [3] - Global net fleet growth is projected to outpace demand growth, with dry bulk and minor bulk fleets estimated to grow by 3% to 4.5% in 2025 [12][17] Company Strategy and Development Direction - The company aims to grow and renew its fleet, maintaining a disciplined approach amidst market uncertainties [19][20] - The strategy includes purchasing larger and younger vessels while selling older ones, contributing to a 4% increase in total deadweight capacity [19][20] - The company is evaluating the impact of IMO's midterm measures on its operations and investments in dual fuel methanol newbuildings [21][63] Management's Comments on Operating Environment and Future Outlook - The near-term bulk market demand outlook is clouded by uncertainties from trade and geopolitical tensions, but potential shifts in trade flows could support tonne mile demand [10][15] - The company expects some support from ASEAN countries for coal demand, while iron ore demand may remain under pressure due to reduced Chinese domestic demand [11][15] - Management acknowledges the volatility in the market and emphasizes the importance of positioning for potential opportunities amidst uncertainties [34][58] Other Important Information - The company has covered 77% of committed vessel stays for Q2 2025 at rates higher than current market spot rates [7] - The company has a solid balance sheet that allows for growth opportunities despite market uncertainties [78] - The company is focused on optimizing short-term cargo commitments to navigate expected market volatility [22] Q&A Session Summary Question: Can you comment on the market rate expectations for the rest of the year? - Management indicated that the market has developed normally, with stable freight rates and ongoing activity despite uncertainties [30][34] Question: How is the company preparing for various scenarios regarding USTR? - Management noted that 70% of the fleet is Japanese built, which may present opportunities amidst regulatory changes, but emphasized the need for clarity on regulations [38][40] Question: What is the outlook for secondhand prices and potential buybacks? - Management acknowledged a slight improvement in secondhand prices recently and confirmed ongoing share buyback programs due to undervaluation [50][51] Question: What kind of trade shifts have been observed recently? - Management reported that there has been a general step back in trade involving the US due to tariff uncertainties, but demand remains for various commodities [72][75] Question: Can you elaborate on M&A opportunities? - Management expressed interest in M&A opportunities but emphasized a preference for organic growth while remaining open to potential acquisitions [78][79]

Financial Data and Key Metrics Changes - The meeting discussed the approval of a merger agreement, indicating a significant strategic shift for the company [8][12] - Shareholders were informed that preliminary results indicated approval of the merger proposal and compensation proposal [12] Business Line Data and Key Metrics Changes - Specific business line performance metrics were not detailed in the meeting, focusing instead on the overall merger strategy [8][14] Market Data and Key Metrics Changes - No specific market data or metrics were provided during the meeting [8][14] Company Strategy and Development Direction - The company is embarking on a new chapter following the merger, emphasizing a focus on customer service and quality merchandise [14] - Management expressed gratitude for the support of public shareholders and highlighted the importance of the transaction in the company's history [14] Management's Comments on Operating Environment and Future Outlook - Management did not provide detailed comments on the current operating environment but emphasized a commitment to customer care and service excellence [10][14] - Future speculation regarding going public again was deemed premature by management [10] Other Important Information - The meeting included a formal voting process for the merger and compensation proposals, with a quorum confirmed [6][12] - Legal counsel and proxy solicitors were present to ensure compliance and proper conduct of the meeting [4][5] Q&A Session Summary Question: When will the final dividend and closing date for the transaction be declared? - Management plans to disclose this information next week [9] Question: If the merger is successful, what would lead Nordstrom to go public again? - Management stated that they are focused on current strategies and have not contemplated going public again at this time [10]

Armlogi Holding (BTOC) Q3 2025 Earnings Call May 16, 2025 11:00 AM ET Company Participants Matthew Abenante - Founder & PresidentSheng-Kai Hsu - Chief Financial Officer Operator Thank you for standing by, and welcome to the ArmLagi Holding Corp. Third Quarter and First Nine Months of Fiscal Year twenty twenty five Earnings Call. Please note that today's call is being recorded. I will now turn the meeting over to Matthew Abenotti, Investor Relations for Armenologis Holdings Corp. Matthew Abenante Thank you, ...