Keda Industrial Group (600499) Q2 2025 earnings summary

Executive summary

• Achieved operating revenue of RMB 8.19 billion for January–June 2025, up 49.04% year-over-year, with over 65% from global business.

• Net profit attributable to shareholders reached RMB 745 million, up 63.95% year-over-year.

• Net cash flows from operating activities increased 155.91% year-over-year to RMB 659.6 million.

• Building materials segment revenue surged 90.08% year-over-year, with gross margin up 5.85 percentage points to 36.80%.

• Strategic investments in lithium and battery materials maintained stable production and cost improvements despite market headwinds.

Financial highlights

• Operating revenue: RMB 8.19 billion (up 49.04% year-over-year).

• Net profit: RMB 1.33 billion (up 111.96% year-over-year); net profit attributable to shareholders: RMB 745 million (up 63.95%).

• Basic EPS: RMB 0.401 (up 66.39% year-over-year).

• Net assets attributable to shareholders: RMB 12.02 billion (up 4.70% from year-end 2024).

• Total assets: RMB 29.03 billion (up 7.72% from year-end 2024).

• Gross margin for building materials: 36.80% (up 5.85 percentage points year-over-year).

Outlook and guidance

• Focus on global expansion, especially in Africa and emerging markets.

• Continued investment in lithium and battery materials, with emphasis on cost competitiveness and efficiency.

• Ongoing digital transformation and lean management to drive operational efficiency.

• No interim profit distribution or capital reserve conversion planned for the period.