YOUNGY (002192) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥840.48 million, up 49.71% year-over-year; net profit attributable to shareholders was ¥278.76 million, up 29.52% year-over-year.

• Significant growth driven by a 174.83% increase in lithium concentrate output and higher profits from associates.

• Major business segments: lithium mining, lithium salt processing, and lithium battery equipment manufacturing.

• Proposed cash dividend of ¥2.20 per 10 shares, totaling ¥57.12 million, representing 20.49% of annual net profit.

Financial highlights

• Gross margin was 51.18%, up 3.65 percentage points year-over-year; net margin was 32.46%, down 3.37 percentage points.

• Total assets at year-end were ¥4.92 billion, up 13.80% from the previous year.

• Operating cash flow was ¥310.45 million, down 31.12% year-over-year due to lower government subsidies and higher deposits.

• Asset-liability ratio increased to 27.10%, but liquidity remained strong with a current ratio of 2.1.

• Major customers accounted for 99.76% of sales, with significant related-party transactions.

Outlook and guidance

• 2026 strategy focuses on expanding lithium resource output, completing cathode and anode material projects, and enhancing equipment business competitiveness.

• Plans to launch new energy operations subsidiary and further vertical integration.

• Ongoing investments in lithium mining expansion and battery material projects.