EVE Energy (300014) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥28.17 billion, up 30.06% year-over-year, driven by strong growth in power and energy storage batteries.

• Net profit attributable to shareholders was ¥1.61 billion, down 24.90% year-over-year, mainly due to increased expenses and non-recurring items.

• Adjusted net profit (excluding equity incentives and bad debt provisions) grew 3.78% year-over-year to ¥2.22 billion.

• Power battery shipments rose 58.58% to 21.48 GWh; energy storage battery shipments increased 37.02% to 28.71 GWh.

• The company maintained global leadership in consumer, power, and energy storage battery segments.

Financial highlights

• Operating cash flow surged 660.72% year-over-year to ¥2.37 billion, reflecting improved working capital efficiency.

• Gross margin was 17.33%, up 1.21 percentage points year-over-year.

• Basic EPS was ¥0.78, down from ¥1.04 in the prior year; diluted EPS was ¥0.74.

• Total assets at period-end were ¥110.69 billion, up 9.72% from year-end 2024.

• Net assets attributable to shareholders increased 3.29% to ¥38.82 billion.

• Non-recurring gains totaled ¥448 million, mainly from government grants and asset disposals.

Outlook and guidance

• The company expects continued robust demand in power and energy storage batteries, with global market expansion and technology upgrades as key drivers.

• Focus remains on innovation, global manufacturing, and value chain integration to capture new growth opportunities.

• Management highlights ongoing investments in R&D, capacity expansion, and overseas production bases.