Opple Lighting (603515) Q4 2025 earnings summary

Executive summary

• Achieved operating revenue of RMB 6.97 billion in 2025, down 1.78% year-over-year; net profit attributable to shareholders was RMB 920 million, up 1.94% year-over-year.

• Maintained strong gross margin at 39.10%, with overseas gross margin rising to 43.45%.

• Continued transformation into a comprehensive intelligent lighting solutions provider, with significant advances in AI, digitalization, and ESG initiatives.

• Proposed a cash dividend of RMB 8.5 per 10 shares, totaling RMB 629 million, representing 68.33% of net profit.

Financial highlights

• Operating revenue: RMB 6.97 billion, down 1.78% year-over-year.

• Net profit attributable to shareholders: RMB 920 million, up 1.94% year-over-year.

• Basic EPS: RMB 1.26; weighted average ROE: 13.62%.

• Net cash flow from operating activities: RMB 690 million, down 15.78% year-over-year.

• Gross margin: 39.10%; overseas gross margin: 43.45%.

• Non-recurring gains and losses: RMB 141 million.

Outlook and guidance

• Industry faces contraction in general lighting but growth in smart, healthy, and niche lighting segments.

• Strategic focus on intelligence, human-centric health, and low-carbon energy saving.

• Plans to expand domestic and overseas channels, enhance digital transformation, and strengthen ESG practices.