Hebei Haiwei Electronic New Material Technology (9609) H2 2025 earnings summary

Executive summary

• FY2025 revenue fell 20.8% YoY to RMB334.0m; profit attributable to owners declined 46.6% to RMB48.0m amid weaker sales and higher expenses.

• Basic and diluted EPS were RMB0.38; no dividend was declared.

Financial highlights

• Gross profit decreased 16.9% YoY to RMB104.0m; cost of sales fell 22.4% to RMB230.1m.

• Profit before tax was RMB51.5m versus RMB93.2m; net profit was RMB44.7m versus RMB86.4m.

• Administrative expenses rose to RMB24.2m from RMB13.4m, mainly on listing and compliance costs; listing expenses were RMB10.8m versus RMB6.1m.

• Other income increased to RMB11.0m from RMB8.6m, primarily reflecting higher government subsidies.

Outlook and guidance

• 2026 priorities include Southern China Facility planning, production-line upgrades, ultra-thin film R&D below 2.5 microns, raw-material substitution, and customer and AI data-center market expansion.

• Capacitor base film capacity is expected to increase by 16,000 tons by 2027 through expansion plans.

• Future capital spending is expected to be funded by operating cash flows, Global Offering proceeds, and self-raised funds.