iMotion Automotive Technology (1274) Q4 2025 earnings summary

Executive summary

• FY2025 revenue fell 19.81% YoY to RMB1,000.57m; gross margin contracted to 1.52% from 7.28%, and loss attributable to equity shareholders widened to RMB415.83m.

• ADAS deliveries rose 70.9% to more than 388,000 units, while lower Supervision orders and pricing/product-mix changes weighed on revenue and gross profit.

Financial highlights

• Revenue was RMB1,000.57m, down 19.81% YoY; gross profit was RMB15.24m, down 83.22%.

• Operating loss was RMB421.84m versus RMB288.19m; loss before tax was RMB416.56m versus RMB288.34m.

• Net loss was RMB416.47m versus RMB288.34m; basic and diluted loss per share was RMB1.70 versus RMB1.27.

• Operating cash outflow improved to RMB175.30m from RMB404.98m; cash and cash equivalents ended the year at RMB260.70m.

Outlook and guidance

• 2026 priorities include scaling manufacturing capacity, optimizing cost-effective ADAS offerings, and sustaining investment in end-to-end and VLA algorithms; no numerical financial guidance was stated.

• iDC310 and iDC510 Pro are scheduled for mass production in 2026; the Malaysia production line completed setup and trial production, with official production expected in H1 2026.

• Expansion plans include overseas sales and service coverage, including a local service network in Japan, and commercialization of robotics solutions in manufacturing, logistics and commercial services.