Hoymiles Power Electronics (688032) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 reached ¥1.32 billion, up 4.57% year-over-year, but net profit attributable to shareholders was a loss of ¥59.12 million, down 124.07% year-over-year.

• The company experienced a significant slowdown in sales growth and increased investment in talent, R&D, and market expansion.

Financial highlights

• Operating income for Q3 2025 was ¥318 million, down 11.18% compared to the same quarter last year.

• Net profit attributable to shareholders for Q3 was a loss of ¥75.39 million, a 230.01% decrease year-over-year.

• Basic EPS for Q3 was -¥0.62, down 231.91% year-over-year; for the nine months, basic EPS was -¥0.48, down 124.12%.

• Operating cash flow for the nine months was -¥346.99 million, a decrease of 577.51% year-over-year.

• Gross margin and other profitability metrics declined sharply due to higher costs and expenses.

Outlook and guidance

• Management attributes the losses to slower sales growth and increased spending on R&D and market expansion, indicating a focus on long-term capability building.