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TBEA (600089) investor relations material
TBEA Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q3 2025 reached RMB 24.57 billion, up 0.31% year-over-year; year-to-date revenue was RMB 72.92 billion, up 0.84% year-over-year.
Net profit attributable to shareholders for Q3 was RMB 2.30 billion, an 81.51% increase year-over-year; year-to-date net profit was RMB 5.48 billion, up 27.55%.
Significant profit growth was mainly driven by fair value gains from Huadian New Energy.
Financial highlights
Q3 total profit was RMB 2.92 billion, up 93.87% year-over-year; year-to-date total profit was RMB 7.34 billion, up 37.70%.
Basic and diluted EPS for Q3 were RMB 0.4582, up 81.54% year-over-year; year-to-date EPS was RMB 1.0924, up 27.56%.
Operating cash flow for the first nine months was RMB 6.11 billion, down 17.55% year-over-year.
Non-recurring gains for the first nine months totaled RMB 1.63 billion, mainly from government subsidies and fair value changes.
Outlook and guidance
No explicit forward-looking statements or guidance provided in the report.
- Revenue and net profit rose, with power equipment and international gains offsetting new energy, coal declines.600089
H1 202524 Dec 2025 - Net profit fell 54.17% year-over-year on lower polysilicon and coal prices, despite stable revenue.600089
Q3 202424 Dec 2025 - Net profit dropped 59% as polysilicon prices collapsed, despite growth in power segments.600089
H1 202424 Dec 2025 - 2024 profit fell 61% on polysilicon slump; 2025 revenue target set at RMB 105 billion.600089
H2 20249 Jun 2025 - Net profit fell nearly 20% in Q1 2025 amid weaker polysilicon and coal prices.600089
Q1 20256 Jun 2025
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