Dongfang Electric Corporation (1072) H2 2025 earnings summary

Executive summary

• Total operating revenue rose 12.80% year-over-year to RMB78.62 billion, with net profit attributable to shareholders up 31.11% to RMB3.83 billion.

• New orders increased 15.93% to RMB117.25 billion, and orders on hand at year-end reached RMB140.31 billion.

• The Board proposed a cash dividend of RMB5.30 per 10 shares, pending approval.

• The company enhanced core competitiveness, advanced national projects, and achieved breakthroughs in R&D and international markets.

Financial highlights

• Operating revenue: RMB78.62 billion (2025), up from RMB69.70 billion (2024).

• Net profit attributable to shareholders: RMB3.83 billion, up from RMB2.92 billion.

• Basic EPS: RMB1.15 (2025) vs. RMB0.94 (2024).

• Gross profit margin for power generation equipment manufacturing: 17.01%.

• R&D expenditure reached RMB3.88 billion, 4.94% of revenue.

• Gearing ratio: 70.39%.

Outlook and guidance

• Focus on high-quality development, digital transformation, and intelligent manufacturing.

• Plans to maintain market share in nuclear and gas power, expand in coal-fired and hydropower, and accelerate growth in wind, hydrogen, and energy storage.

• Continued emphasis on R&D, cost management, and international expansion.