Shenzhen Fastprint Circuit Tech (002436) Q4 2025 earnings summary

Executive summary

• Revenue reached ¥7.19 billion, up 23.68% year-over-year; net profit attributable to shareholders was ¥134.95 million, reversing a loss from the previous year and up 168.05% year-over-year.

• Gross margin improved to 19.57%, up 3.7 percentage points year-over-year; operating efficiency increased with a 2.14 percentage point drop in expense ratio.

• Total assets grew 10.34% to ¥15.08 billion; net assets attributable to shareholders rose 8.36% to ¥5.35 billion.

• The company proposes a cash dividend of ¥0.3 per 10 shares, with no bonus shares or capital increase from reserves.

Financial highlights

• PCB business revenue was ¥4.90 billion (+13.89% YoY), with a gross margin of 25.26%.

• Semiconductor business revenue was ¥1.91 billion (+48.62% YoY), with a gross margin of -9.28%, a significant improvement from the previous year.

• Operating cash flow was -¥62.75 million, down 116.70% year-over-year, mainly due to increased payments for goods/services and reduced tax rebates.

• R&D expenses were ¥481.49 million, accounting for 6.69% of revenue.

• Basic and diluted EPS were both ¥0.08, compared to -¥0.12 last year.

Outlook and guidance

• The company will focus on advanced electronic circuits and digital manufacturing, aiming for breakthroughs in high-end PCB and FCBGA substrate mass production for AI and other core markets.

• Plans to deepen digital transformation, enhance customer satisfaction, and improve operational efficiency.

• Risks include macroeconomic volatility, intensified PCB market competition, receivables management, raw material price fluctuations, and new capacity ramp-up challenges.