Dajin Heavy Industry (002487) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥2.84 billion, up 109.48% year-over-year, with net profit attributable to shareholders at ¥546.52 million, up 214.32% year-over-year, and adjusted net profit up 250.48%.

• Overseas offshore wind business drove growth, with export revenue accounting for nearly 80% of total, and export volume more than doubled year-over-year.

• The company continued to expand its global presence, securing over ¥10 billion in overseas orders, and advanced its logistics and shipping capabilities with new vessel construction.

• New energy power generation business doubled its grid-connected capacity to 500MW, with nearly 1GW under construction.

• The company became the first in its sector to pass SBTi carbon target verification, reinforcing its green transition.

Financial highlights

• Operating income: ¥2,841,139,262.44, up 109.48% year-over-year.

• Net profit attributable to shareholders: ¥546,515,412.75, up 214.32% year-over-year.

• Adjusted net profit: ¥562,814,209.18, up 250.48% year-over-year.

• Basic and diluted EPS: ¥0.86, up 218.52% year-over-year.

• Operating cash flow: ¥237,974,178.54, down 3.78% year-over-year.

• Gross margin for metal products: 26.07%; for new energy power: 73.94%.

• Export revenue: ¥2,243,196,230.05, up 195.78% year-over-year.

Outlook and guidance

• The company expects continued high growth in overseas offshore wind markets, with robust order backlog and long-term agreements extending to 2030.

• Ongoing investments in logistics, vessel construction, and global capacity expansion are expected to support future growth.