Noblelift Intelligent Equipment (603611) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was RMB 3.22 billion, down 7.4% year-over-year; net profit attributable to shareholders rose 2.28% to RMB 246 million.

• Cash flow from operating activities improved significantly to RMB 57.7 million from a negative RMB 120.5 million in H1 2024.

• The company continued its strategic shift to a comprehensive intelligent logistics solutions provider, with strong R&D and digital transformation initiatives.

• Major investments in smart manufacturing, robotics, and international expansion, including new production bases in Malaysia and Vietnam.

Financial highlights

• Operating income: RMB 3.22 billion, down 7.4% year-over-year.

• Net profit attributable to shareholders: RMB 246 million, up 2.28% year-over-year.

• Net profit excluding non-recurring items: RMB 218 million, up 9.79% year-over-year.

• Basic and diluted EPS: RMB 0.95, up 2.15% year-over-year.

• Gross margin improved due to supply chain optimization and product mix upgrades.

• Net assets at period end: RMB 2.998 billion, up 1.99% from year-end 2024.

• Total assets: RMB 9.09 billion, up 3.03% from year-end 2024.

Outlook and guidance

• Continued focus on intelligent logistics and smart manufacturing, with emphasis on digitalization and R&D.

• Ongoing expansion in overseas and emerging markets, especially Southeast Asia.

• Five-phase smart factory project progressing on schedule, with trial production expected in Q4 2025.

• Management expects further improvement in product structure, cost control, and market share in large electric forklifts.