Keda Industrial Group (600499) Q3 2025 earnings summary

Executive summary

• Operating revenue for the first three quarters of 2025 reached RMB 12.605 billion, up 47.19% year-over-year, with net profit attributable to shareholders rising 63.49% to RMB 1.149 billion.

• Building materials and lithium-ion battery materials segments drove significant revenue and profit growth, aided by new production capacity and process improvements.

• The company discontinued investment in the Honduras Ceramic Project due to increased risk and lower projected returns.

• Lanke Lithium Industry contributed RMB 0.271 billion to net profit attributable to the parent company through a 43.58% indirect shareholding.

Financial highlights

• Operating revenue for the reporting period was RMB 1,260,533,740, up 47.19% year-over-year.

• Net profit attributable to shareholders was RMB 1,149,143,100, up 63.49% year-over-year.

• Basic and diluted earnings per share for the first three quarters were RMB 0.613, up 64.78% year-over-year.

• Net cash flows from operating activities increased to RMB 1,560,405,100, up 6,531.40% year-over-year.

• Total assets as of September 30, 2025, were RMB 29,913,583,500, up 11% from the previous year-end.

Outlook and guidance

• The Peru Glass Project is on schedule and expected to commence operations in 2026.

• The company is enhancing efficiency in ceramic machinery through localized operations and new facilities in Turkey.