Ningbo Deye Technology Group Co (605117) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached RMB 5.54 billion, up 16.58% year-over-year; net profit attributable to shareholders was RMB 1.52 billion, up 23.18% year-over-year.

• Cash flow from operating activities was RMB 1.52 billion, up 14.63% year-over-year.

• The board proposed a cash dividend of RMB 1.108 per share, totaling RMB 1.0 billion, representing 65.7% of net profit.

Financial highlights

• Operating income: RMB 5.54 billion (+16.58% YoY); net profit: RMB 1.52 billion (+23.18% YoY).

• Gross margin and EPS improved; basic and diluted EPS at RMB 1.68 (+15.07% YoY).

• Net assets attributable to shareholders: RMB 9.38 billion; total assets: RMB 18.57 billion.

• Non-recurring profit and loss contributed RMB 60.6 million.

Outlook and guidance

• Management expects continued growth in energy storage and inverter markets, with global demand for storage and PV inverters rising, especially in Europe and emerging markets.

• The company will continue to invest in R&D and expand production capacity, with a major new inverter production line expected to be operational by year-end.