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Ningbo Shanshan
Ningbo Shanshan (600884) investor relations material
Ningbo Shanshan Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary30 Apr, 2026
Executive summary
Achieved revenue of RMB 21.59 billion in 2025, up 15.56% year-over-year; net profit attributable to shareholders was RMB 458 million, turning from loss to profit compared to 2024.
Both core businesses—anode materials and polarizers—delivered significant profit growth, with combined net profit of RMB 933 million.
No cash dividend, bonus shares, or capital reserve transfer proposed for 2025 to support strategic investments and maintain financial stability.
Financial highlights
Operating income: RMB 21.59 billion, up 15.56% year-over-year.
Net profit attributable to shareholders: RMB 458 million, compared to a loss of RMB 367 million in 2024.
Operating cash flow: RMB 2.26 billion, up 21.44% year-over-year.
Basic EPS: RMB 0.21; ROE: 2.10%.
Gross margin for anode materials: 19.59% (+1.14ppt); for polarizers: 23.25% (+4.46ppt).
Outlook and guidance
Expects continued robust demand for anode materials driven by global EV and energy storage growth; industry concentration to increase.
Polarizer business to benefit from display panel upgrades, OLED penetration, and domestic substitution trends.
Strategic focus on R&D, cost leadership, and global supply chain resilience.
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Latest events from Ningbo Shanshan
- Net profit attributable to shareholders surged 898.85% year-over-year in Q1 2026.600884
Q1 202630 Apr 2026 - Net profit plunged 98% on lower prices, but sales and cash flow improved; market leadership held.600884Q2 202413 Feb 2026
- Net profit plunged 98% year-over-year amid industry headwinds and asset divestments.600884Q3 202413 Feb 2026
- 2024 saw a net loss of RMB 367 million on RMB 18.68 billion revenue, with no dividend proposed.600884Q4 202413 Feb 2026
- Revenue up 28% and net profit positive in Q1 2025, but shareholder reorganization poses risks.600884Q1 202513 Feb 2026
- Net profit surged over 1,000% year-over-year, driven by anode materials growth and cost controls.600884Q2 202513 Feb 2026
- Profit and revenue surged in Q3 2025, but shareholder reorganization poses ongoing uncertainty.600884Q3 202513 Feb 2026
Next Ningbo Shanshan earnings date
Q2 20261 Sep, 2026
Ningbo Shanshan
Next Ningbo Shanshan earnings date
Q2 20261 Sep, 2026
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