Zhejiang Dahua Technology Co. (002236) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 reached ¥7.73 billion, up 1.95% year-over-year; year-to-date revenue was ¥22.91 billion, up 2.06% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥1.06 billion, up 44.12% year-over-year; year-to-date net profit was ¥3.54 billion, up 38.92% year-over-year.

• Excluding non-recurring items, Q3 net profit was ¥760.5 million, up 52.34% year-over-year.

• Basic and diluted EPS for Q3 were ¥0.33, up 43.48% year-over-year; year-to-date EPS was ¥1.09, up 39.74% year-over-year.

Financial highlights

• Operating cash flow for Q3 was ¥1.56 billion, up 1,351.77% year-over-year.

• Total assets at quarter-end were ¥52.14 billion, down 1.12% from the previous year-end.

• Shareholders’ equity increased 6.09% to ¥38.22 billion compared to the previous year-end.

• Non-recurring gains for the year-to-date totaled ¥979 million, mainly from government subsidies and investment returns.

Outlook and guidance

• The company completed the second exercise period of its 2022 stock option and restricted stock incentive plan, with 14.97 million options exercised by July 10, 2025.

• 25.7 million unexercised options were cancelled due to unmet performance conditions and employee departures.