iMotion Automotive Technology (1274) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue fell 42.47% YoY to RMB365.993m; gross profit declined 61.93% to RMB17.074m, while attributable loss widened 80.38% to RMB177.882m.

• More than 116,000 ADAS solutions and products were delivered, up 20.8% YoY; 19 OEM nominations were secured, with most nominated models expected to enter production in 2025–2026.

Financial highlights

• Revenue was RMB365.993m versus RMB636.157m; cost of sales was RMB348.919m versus RMB591.305m.

• Gross profit was RMB17.074m versus RMB44.852m; gross margin contracted to 4.67% from 7.05%.

• Operating loss widened to RMB182.240m from RMB100.063m; net loss was RMB177.946m versus RMB98.629m, and basic and diluted loss per share was RMB0.75 versus RMB0.44.

• Attributable loss was RMB177.882m versus RMB98.613m.

• R&D expense rose 57.18% to RMB156.53m and administrative expense rose 35.19% to RMB31.37m; selling expense fell 9.35% to RMB10.47m.

Outlook and guidance

• Higher OEM deliveries are expected in H2; most of 19 nominated models are expected to enter production in 2025–2026.

• Horizon Robotics Journey 6-based ADAS domain controllers are expected to enter serial production on multiple models in H2 2025.

• Priorities include cost-effective intelligent-driving solutions, continued R&D, expanded OEM coverage and overseas sales, and embodied-intelligence and unmanned-logistics opportunities.