FS.COM (3355) H2 2025 earnings summary
Event summary combining transcript, slides, and related documents.
H2 2025 earnings summary
1 Oct, 2026Executive summary
Achieved high-quality growth in 2025, with revenue up 13.5% year-over-year to RMB2.97 billion and net profit up 51.4% to RMB601 million.
Net cash flow from operating activities doubled to RMB817 million year-over-year.
Expanded global service network to over 200 countries and regions, serving more than 500,000 customers.
Successfully listed on the Main Board of the Hong Kong Stock Exchange on March 23, 2026.
Financial highlights
Revenue: RMB2,965.7 million in 2025, up 13.5% from 2024.
Net profit: RMB601.5 million, up 51.4% year-over-year.
Gross profit: RMB1,615.1 million, gross margin increased to 54.5% from 50.0%.
Adjusted net profit margin: 21.9% in 2025, up from 15.6% in 2024.
R&D investment: RMB178.1 million, representing 6.0% of revenue.
Dividend: Proposed final cash dividend of RMB200 million (RMB4.93 per 10 shares), subject to approval.
Outlook and guidance
Plans to drive technological upgrades, expand product portfolio, and enhance global delivery and supply chain capabilities.
Focus on integrating AI and SDN technologies, developing 800G and 1.6T switch products, and advancing cloud-based network management.
Committed to global talent acquisition and organizational development to support long-term growth.
