China Jushi Co. (600176) Q2 2025 earnings summary

Executive summary

• Operating revenue for H1 2025 reached ¥9.109 billion, up 17.7% YoY, with net profit attributable to shareholders at ¥1.69 billion, a 75.51% increase YoY.

• Record sales volumes in yarn and electronic cloth, with 1.5822 million tons of yarn (up nearly 4% YoY) and 485 million meters of electronic cloth (up 5.9% YoY).

• Growth driven by strong demand in wind power, automotive, and high-end glass fiber markets, with notable gains in new energy vehicles and home appliances.

• Significant progress in production capacity expansion, digital transformation, and ESG initiatives, with improved MSCI and Wind ESG ratings.

• Cash dividend of ¥1.70 per 10 shares (pre-tax) proposed, totaling ¥680.53 million, with a payout ratio exceeding 40%.

Financial highlights

• Operating revenue reached ¥9.109 billion, up 17.7% YoY; main business revenue from glass fiber and products was ¥8.96 billion, up 17.81% YoY.

• Net profit attributable to shareholders was ¥1.69 billion, up 75.51% YoY; total profit was ¥2.119 billion, up 83% YoY.

• Non-GAAP net profit surged 170% YoY to ¥1.701 billion.

• Net cash flow from operating activities was ¥1.441 billion, up ¥1.214 billion YoY, a 534.54% increase.

• Gross margin improved due to both volume and price increases.

Outlook and guidance

• Focus on sales volume and price stability, efficiency, cost reduction, innovation, quality, system construction, and team culture for the second half.

• Continued demand growth expected in high-end markets such as wind power, thermoplastics, and new energy vehicles.

• Ongoing expansion of production capacity and global market presence, with balanced domestic and overseas growth under the 15th Five-Year Plan.

• Expects stable to slightly increasing prices for core products, with continued structural optimization and export growth.