Sieyuan Electric (002028) H2 2025 earnings summary

Executive summary

• Revenue reached ¥21.54 billion in 2025, up 39.34% year-over-year; net profit attributable to shareholders was ¥3.15 billion, up 53.74% year-over-year.

• Domestic revenue grew 27.57% to ¥15.74 billion, while overseas revenue surged 85.84% to ¥5.80 billion, now 26.94% of total revenue.

• New orders totaled ¥28.89 billion (excl. tax), up 34.64% year-over-year.

• Gross margin was 30.77%, down 0.48 percentage points year-over-year.

• Operating cash flow was ¥2.23 billion, down 9.27% year-over-year.

Financial highlights

• Net profit attributable to shareholders: ¥3.15 billion (+53.74% YoY).

• Revenue: ¥21.54 billion (+39.34% YoY).

• Basic EPS: ¥4.04; diluted EPS: ¥4.01.

• Total assets: ¥29.84 billion (+27.12% YoY); net assets: ¥15.49 billion (+25.15% YoY).

• Cash dividend: ¥7 per 10 shares (pre-tax), total payout ¥547.72 million.

Outlook and guidance

• 2026 targets: new orders ¥37.5 billion (+30% YoY), revenue ¥27 billion (+25% YoY).

• Focus on expanding domestic and international markets, advancing high-voltage and storage solutions, and increasing R&D in digital and green technologies.