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NARI Technology (600406) investor relations material
NARI Technology H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved revenue of ¥66.23 billion in 2025, up 14.53% year-over-year; net profit attributable to shareholders reached ¥8.28 billion, up 8.79% year-over-year; basic EPS was ¥1.04.
Maintained high-quality growth with strong performance in core and emerging businesses; new business revenue grew 29% to ¥8 billion.
R&D investment increased 16.54% to ¥4.74 billion, representing 7.16% of revenue.
Cash dividend payout ratio remained near 60% for the third consecutive year; total cash dividends and share repurchases accounted for 65.58% of net profit.
Financial highlights
Revenue: ¥66.23 billion, up 14.53% year-over-year.
Net profit attributable to shareholders: ¥8.28 billion, up 8.79% year-over-year.
Operating cash flow: ¥12.77 billion, up 15.17% year-over-year.
Gross margin: 25.79%, down 0.73 percentage points year-over-year.
Basic EPS: ¥1.04, up 8.98% year-over-year.
ROE: 16.26%, up 0.41 percentage points year-over-year.
Outlook and guidance
2026 revenue target: ¥75 billion, up 13.24% year-over-year.
Fixed asset investment planned at ¥1.82 billion for 2026.
Strategic focus on AI, digitalization, and expansion into water, pipeline, transportation, and computing networks.
Long-term vision to become a world-class energy internet technology leader by 2030.
- Q1 2026 saw 7.5% revenue growth and higher net profit, but operating cash flow declined sharply.600406
Q1 202630 Apr 2026 - Revenue up 11.15% and net profit up 6.06%, with robust growth in smart grid and digital energy.600406
H2 202419 Dec 2025 - Revenue up 19.54% and net profit up 8.82% year-over-year, with strong global expansion.600406
Q2 202519 Dec 2025 - Q3 revenue up 16.65% and net profit up 7.81% year-over-year, with strong cash flow growth.600406
Q3 202531 Oct 2025 - Q3 2024 saw double-digit revenue and profit growth, but cash reserves declined.600406
Q3 202413 Jun 2025 - Revenue and net profit grew over 8% year-over-year, with robust expansion in low-carbon and overseas sectors.600406
H1 202413 Jun 2025 - Q1 2025 saw double-digit revenue and profit growth, plus key strategic acquisitions.600406
Q1 20256 Jun 2025
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