Deewin Tianxia (2418) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 5.1% YoY to RMB2,762.2m, while profit for the year fell 62.0% to RMB59.6m and profit attributable to shareholders fell 55.4% to RMB68.3m.

• Transformation priorities included higher-value logistics, sales-finance collaboration, digital services and overseas expansion; 2026 plans organize activity around Data, Finance, Logistics and Vehicles ecosystems.

Financial highlights

• Revenue increased 5.1% to RMB2,762.2m; gross profit declined 7.9% to RMB396.4m and profit before tax fell 53.2% to RMB93.2m.

• Profit for the year decreased 62.0% to RMB59.6m; basic EPS was RMB0.03 versus RMB0.07 in 2024.

• Operating profit was RMB104.2m versus RMB202.9m; net impairment losses on financial assets rose to RMB122.4m from RMB52.9m.

• Operating cash flow was RMB133.2m versus an outflow of RMB76.6m; cash and cash equivalents ended the year at RMB610.9m, down from RMB893.5m.

Outlook and guidance

• 2026 priorities include prudent core operations, moving from sales-finance synergy toward production-sales-service synergy, and shifting logistics growth from scale to quality and higher-value segments.

• Financial services plans target selected non-vehicle sectors, including high-end equipment and logistics infrastructure, with risk frameworks; factoring will focus on product innovation and process efficiency.

• Plans include expanding data applications into used-vehicle valuation, financial risk management, usage-based insurance and regional analytics; Deyitongtu certified pre-owned vehicle platform is planned as a 2026 sales-growth initiative.

• Overseas plans include commencing Hong Kong subsidiary operations as an investment platform and developing localized sales, leasing and product operations; 2025 cooperation in Indonesia marked initial overseas implementation.