GoodWe Technologies (688390) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥4.09 billion, up 29.80% year-over-year, driven by strong domestic and international demand for PV inverters and residential systems.

• Net loss attributable to shareholders was ¥16.60 million, a reduction of ¥7.23 million compared to the same period last year.

• Total assets at period-end were ¥8.02 billion, up 0.80% from year-end 2024; equity attributable to shareholders was ¥2.71 billion, down 1.43%.

• The company expanded its global presence, with inverter sales of 399,500 units, 40.63% of which were overseas.

• Major product launches and technological upgrades included the SDT G4 inverter series and advancements in smart energy management platforms.

Financial highlights

• Operating income: ¥4,085,839,240.31, up 29.80% year-over-year.

• Net loss attributable to shareholders: ¥16,597,979.91, improved from a ¥23,830,602.29 loss last year.

• Operating cash flow: -¥43,851,409.99, a significant improvement from -¥908,229,488.41 last year.

• Basic and diluted EPS: -¥0.07, up from -¥0.10 year-over-year.

• R&D investment: ¥293.76 million, up 10.88% year-over-year, representing 7.19% of revenue.

Outlook and guidance

• The company will continue to focus on innovation in PV, storage, and smart energy management, aiming to strengthen its position as a global solutions provider.

• Ongoing expansion in international markets and product portfolio diversification are expected to drive future growth.