Fortior Technology (Shenzhen) Co Ltd (688279) Q2 2025 earnings summary

Executive summary

• H1 revenue rose 32.84% YoY to RMB 375.04m, while reported net income fell 4.51% to RMB 116.51m; excluding share-based payment expense, net income rose 18.69%.

• Growth reflected broader sales across smart small appliances, white goods, industrial and automotive applications, alongside sharply higher R&D investment.

Financial highlights

• Profit before tax was RMB 121.80m, down 1.85% YoY; net income attributable to shareholders was RMB 116.51m, down 4.51%.

• Excluding share-based payment expense, net income was RMB 147.56m, up 18.69% YoY; share-based payment costs rose RMB 31.97m YoY.

• Revenue grew 32.84% to RMB 375.04m; operating cash flow increased 7.32% to RMB 121.90m.

• R&D expense rose 75.92% to RMB 70.71m, equal to 18.85% of revenue versus 14.24% a year earlier.

Outlook and guidance

• Strategic priorities include expanding automotive, industrial and white-goods applications, increasing overseas reach, and developing system-level motor-control products and services.

• R&D focus includes automotive electronics, industrial servo control, robotics and sensors; sensor products have launched, with market introduction expected to support a future growth curve.

• H-share proceeds are intended for R&D, product and application expansion, overseas-market development, strategic investment and acquisitions, and general operations.