Shengyi Technology (600183) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥12.68 billion, up 31.68% year-over-year, with net profit attributable to shareholders at ¥1.43 billion, up 52.98% year-over-year.

• Significant growth in production and sales across core product lines, especially in high-end PCB and AI server materials.

• The company maintained its global No.2 position in rigid copper-clad laminate sales, with a 13.7% global market share in 2024.

• Proposed interim dividend of ¥4.00 per 10 shares, pending shareholder approval.

Financial highlights

• Operating income: ¥12.68 billion, up 31.68% year-over-year.

• Net profit attributable to shareholders: ¥1.43 billion, up 52.98% year-over-year.

• Operating cash flow: ¥1.94 billion, up 109.98% year-over-year.

• Basic EPS: ¥0.59, up 47.50% year-over-year.

• Gross margin: 24.48%, up 4.45 percentage points year-over-year.

Outlook and guidance

• Management expects continued strong demand in AI, server, and automotive electronics sectors, but notes potential volatility in raw material prices and market competition in H2 2025.

• The company will focus on product structure optimization, R&D investment, and digital transformation to maintain competitiveness.