Deewin Tianxia (2418) H1 2025 earnings summary

Executive summary

• H1 2025 revenue fell 12.2% YoY to RMB1,137.1m and net profit declined 20.7% to RMB91.7m.

• Gross margin improved to 19.1% from 17.1%, while net profit margin eased to 8.1% from 8.9%.

Financial highlights

• Revenue was RMB1,137.1m versus RMB1,295.7m; cost of revenue decreased 14.4% to RMB919.4m.

• Gross profit declined 1.9% to RMB217.7m; profit before tax fell 20.1% to RMB118.1m.

• Operating profit was RMB123.6m versus RMB143.7m; net finance costs were RMB8.0m versus net finance income of RMB1.2m.

• Net profit was RMB91.7m versus RMB115.6m; basic and diluted EPS were RMB0.04 versus RMB0.05.

Outlook and guidance

• H2 priorities include 2–3 integrated new-energy logistics projects and 2–3 new-energy charging stations.

• Plans include logistics TMS and platform pilots, Battery Bank implementation, and overseas operations integrating vehicle sales, finance and IoV.

• Financial services plans emphasize closer alignment with vehicle sales, differentiated finance policies and stronger overdue-risk controls.

• Logistics priorities include new-energy operations, aftermarket channels, express logistics, parts distribution, shared packaging and high-quality supply-chain projects.