Jiangsu Yoke Technology (002409) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥4.29 billion, up 31.82% year-over-year, with net profit attributable to shareholders at ¥522.79 million, a 0.63% increase year-over-year.

• Growth was driven by strong performance in LNG insulation materials and electronic materials, with LNG-related business up 80% and electronic materials up over 30% year-over-year.

• R&D expenses rose 46.88% year-over-year, reflecting continued investment in new technologies and products.

• The company maintained a stable financial position, with total assets at ¥16.31 billion and net assets attributable to shareholders at ¥7.81 billion as of June 30, 2025.

Financial highlights

• Operating income: ¥4.29 billion, up 31.82% year-over-year.

• Net profit attributable to shareholders: ¥522.79 million, up 0.63% year-over-year.

• Operating cash flow: ¥290 million, up 1,458.82% year-over-year due to improved collections and lower inventory growth.

• Basic and diluted EPS: ¥1.0985, up 0.63% year-over-year.

• Gross margin for electronic materials: 32.71%; LNG insulation materials: 25.33%.

Outlook and guidance

• The company expects continued growth in semiconductor and LNG sectors, supported by strong order backlog and ongoing capacity expansion.

• Management highlights risks from macroeconomic uncertainty, industry cycles, and exchange rate fluctuations, but plans to mitigate through innovation and market expansion.