Jinyuan EP (000546) Q4 2025 earnings summary

Executive summary

• Revenue increased 40.02% year-over-year to ¥9.43 billion, driven by growth in both environmental and new energy materials businesses.

• Net loss attributable to shareholders was ¥251.77 million, a significant decline from last year's profit, mainly due to asset impairments and lower margins.

• The company continued its strategic shift toward new energy materials, with major investments in lithium projects and optimization of environmental operations.

• Significant management changes and a change in actual controller occurred during the year.

Financial highlights

• Operating income: ¥9.43 billion, up 40.02% year-over-year.

• Net loss attributable to shareholders: ¥251.77 million (vs. ¥39.71 million profit last year).

• Basic and diluted EPS: -¥0.32 (vs. ¥0.05 last year).

• Gross margin declined slightly; main cost increases in raw materials and manufacturing.

• Total assets: ¥5.85 billion, up 3.94% from prior year-end.

• Net assets attributable to shareholders: ¥3.90 billion, down 6.37% year-over-year.

• Operating cash flow improved to -¥3.90 million from -¥517.18 million last year.

Outlook and guidance

• Focus on optimizing environmental business operations and asset structure.

• Accelerate new energy materials transformation, especially lithium resource development in Tibet and overseas.

• 2026 plan emphasizes risk control, compliance, cost reduction, and efficiency improvement.

• Measures to address audit reservations and improve internal controls are underway.