Dahon Tech (Shenzhen) (2543) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 42.6% YoY to RMB318.7m; sales volume increased 42.6% to 158,654 units, and period profit grew 52.3% to RMB38.8m.

• The business spans folding bicycles and related products, with more than 70 models; the classic P8 passed 170,000 cumulative units sold by June 30, 2025.

Financial highlights

• Revenue was RMB318.660m, gross profit RMB106.678m, and profit before tax RMB45.612m for H1 2025, versus RMB223.514m, RMB73.278m, and RMB29.497m, respectively, in H1 2024.

• Period profit and total comprehensive income increased 52.3% YoY to RMB38.841m; basic EPS was RMB1.85 and diluted EPS RMB1.68, versus RMB1.21 and RMB1.15.

• Cost of sales rose 41.1% to RMB212.0m, driven by higher outsourcing production costs and raw-material spending alongside expanded sales volume.

• Selling and distribution costs rose 51.0% to RMB36.1m, while administrative expenses increased 11.2% to RMB15.3m and R&D spending rose 35.3% to RMB9.7m.

Outlook and guidance

• Strategy prioritizes folding bicycles and broader mobility opportunities, supported by brand strength, product range and continued technological innovation.

• The product portfolio extends into road, mountain, children’s and electric-assisted bicycles, alongside commuting, outdoor-sport and competitive-use models.