Ningbo Orient Wires & Cables (603606) H2 2025 earnings summary

Executive summary

• Achieved revenue of ¥10.84 billion in 2025, up 19.26% year-over-year, with net profit attributable to shareholders of ¥1.27 billion, up 26.11% year-over-year.

• Sea cable and high-voltage cable revenue surged 65.60% to ¥5.36 billion, accounting for 49.46% of total revenue.

• Cash flow from operating activities reached ¥1.96 billion, up 76.58% year-over-year.

• Proposed cash dividend of ¥5.60 per 10 shares and 2-share capital increase per 10 shares.

Financial highlights

• Gross margin improved by 3.30 percentage points to 22.07%.

• Basic and diluted EPS were ¥1.85, up 25.85% year-over-year.

• Net assets attributable to shareholders at year-end were ¥8.28 billion, up 20.71% from prior year.

• Operating income was ¥1.53 billion, up 32.98% year-over-year.

• R&D investment totaled ¥381 million, 3.51% of revenue.

Outlook and guidance

• Focus on high-quality growth, international expansion, and innovation in sea cable, land cable, and deep-sea technology.

• Industry tailwinds from national grid investment, offshore wind, and green energy transition.

• Strategic goal to become a global leader in system integration solutions and maintain domestic leadership in sea cable.