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AAC Technologies
AAC Technologies (2018) investor relations material
AAC Technologies H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary21 Aug, 2025
Executive summary
Revenue for 1H 2025 reached RMB 13.32 billion, up 18.4% year-over-year, driven by market share gains in core products and strong growth in precision mechanics, optics, and sensor/semiconductor businesses.
Net profit surged 63.1% to RMB 876 million, with net profit margin improving to 6.6% and basic EPS up 65.2% to RMB 0.76.
EBITDA for the 12 months ended 30 June 2025 increased 25.9% to RMB 5.91 billion.
Operating cash inflow was RMB 2.89 billion, up 9.1% year-over-year; free cash flow reached RMB 1.86 billion.
The company completed key acquisitions, including Hebei First Light (53.74% interest) and PSS, and executed a share repurchase of 21.48 million shares for HK$858 million.
Financial highlights
Gross profit was RMB 2.75 billion, up 13.9% year-over-year; gross margin was 20.7%, down 0.8 percentage points due to product mix.
CapEx increased 57.5% to RMB 1.44 billion, focused on technology platform and capacity expansion.
Net gearing ratio stood at 4.7%; cash and short-term deposits totaled RMB 7.75 billion.
Basic and diluted EPS for 1H 2025 were RMB 0.76, up from RMB 0.46 in 1H 2024.
Free cash flow remained strong at RMB 1.86 billion.
Outlook and guidance
Management expects H2 2025 revenue growth to remain at or above 18.4%, with gross margin in acoustics and optics segments expected to improve as new products ramp up.
Dissipation business revenue projected to triple year-over-year, reaching RMB 1.2 billion.
Focus remains on technological innovation, global expansion, and diversification into automotive, robotics, and smart wearables.
More flagship models expected to adopt WLG-based optics in 2H 2025.
The company will maintain a final dividend payout ratio of 15%, with no interim dividend.
WLG technology's impact on optics growth?
How will the Group manage rising working capital days?
Detail efforts to reduce key customer reliance
Robotics and AI devices strategy?
Dissipation business growth and margin outlook
WLG product line profitability timeline?
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Next AAC Technologies earnings date
H2 202519 Mar, 2026
AAC Technologies
Next AAC Technologies earnings date
H2 202519 Mar, 2026
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Frequently asked questions
AAC Technologies Holdings Inc. is a developer, manufacturer, and distributor of miniature acoustic components. The company's extensive product range includes dynamic components such as speakers, receivers, and microphones, along with non-acoustic products like antennas, optical lenses, vibrators, and ceramic products. AAC Technologies also provides metal solutions, haptic solutions, Iris recognition solutions, radiofrequency antenna solutions, and structural ceramics. These products find applications in various devices including smartphones, ultrabooks, smartwatches, automotive applications, and tablets.The company is headquartered in Shenzen, China, and its shares are listed on the Hong Kong Stock Exchange.
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