Western Superconducting Technologies
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Western Superconducting Technologies (688122) investor relations material

Western Superconducting Technologies Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary29 Oct, 2025

Executive summary

  • Revenue for Q3 2025 reached ¥1.27 billion, up 4.23% year-over-year, while net profit attributable to shareholders dropped 59.44% to ¥104 million due to increased R&D expenses and reduced government subsidies.

  • Year-to-date revenue was ¥3.99 billion, up 23.3% year-over-year, with net profit attributable to shareholders at ¥650 million, up 7.62%.

Financial highlights

  • Q3 gross margin and net margin declined as R&D investment rose 119.76% year-over-year to ¥111 million.

  • Basic and diluted EPS for Q3 were ¥0.16, down 58.97% year-over-year; year-to-date EPS was ¥1.00, up 7.53%.

  • Cash flow from operating activities for the first nine months was -¥104.5 million, a decrease of 167.03% year-over-year.

  • Total assets at quarter-end were ¥14.66 billion, up 7.74% from the previous year-end.

Outlook and guidance

  • Management attributes profit decline to higher R&D material input, increased asset impairment provisions, and lower government subsidies.

Q3 profit drop: R&D investment and impairment impact
Operating cash flow: Negative shift and working capital
Assess current liquidity and solvency position
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