Beijing Easpring Material Technology (300073) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥4.43 billion, up 25.17% year-over-year; net profit attributable to shareholders was ¥311 million, up 8.47% year-over-year; adjusted net profit (excluding non-recurring items) rose 16.02% to ¥251 million.

• Overseas sales accounted for 30.63% of total revenue, with stable performance in major international markets.

• The company completed a private placement, raising ¥1 billion to supplement working capital and support R&D and global expansion.

Financial highlights

• Gross margin for lithium battery materials was 12.98%, down 0.84 percentage points year-over-year.

• Operating cash flow was ¥390 million, down 15.23% year-over-year; cash and equivalents at period-end were ¥7.73 billion.

• Total assets increased 13.55% to ¥19.44 billion; net assets attributable to shareholders rose 9.20% to ¥14.38 billion.

• Basic and diluted EPS were ¥0.6143, up 8.46% year-over-year; ROE was 2.34%.

• Non-recurring gains included ¥58 million in government grants and ¥7.5 million from fair value changes and investment income.

Outlook and guidance

• The company expects continued growth in global EV and energy storage markets, with ongoing expansion in high-nickel, LFP, and next-generation battery materials.

• Ongoing investment in European and domestic production bases to meet rising demand and strengthen global supply chain resilience.