Dajin Heavy Industry (002487) Q4 2025 earnings summary

Executive summary

• Achieved record-high operating results in 2025, with revenue up 63.34% year-over-year and net profit up 132.82% year-over-year, driven by strong overseas wind power equipment exports and strategic transformation to a system service provider.

• Overseas business became the main revenue driver, with export revenue up 165.26% year-over-year, accounting for 74.46% of total revenue, and export gross margin reaching 33.95%.

• Maintained robust cash flow and asset growth, with operating cash flow up 13.26% and total assets up 25.33% year-over-year.

• Significant progress in strategic transformation, including self-built shipping, port management, and expansion into new energy power generation.

Financial highlights

• Revenue: ¥6.17 billion, up 63.34% year-over-year.

• Net profit attributable to shareholders: ¥1.10 billion, up 132.82% year-over-year.

• Operating cash flow: ¥1.23 billion, up 13.26% year-over-year.

• Basic and diluted EPS: ¥1.73, up 133.78% year-over-year.

• Gross margin: 31.18%, up 1.35 percentage points year-over-year.

• Net assets: ¥8.28 billion, up 13.87% year-over-year.

Outlook and guidance

• Focus on high-tech, high-value offshore wind markets, especially Europe, with continued expansion into Japan, Korea, and Australia.

• Strategic emphasis on floating wind power, integrated supply chain, and global service capabilities.

• Plans to further enhance R&D, global operations, and sustainable development as core competencies.