ShenZhen Woer Heat-Shrinkable Material (002130) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥3.95 billion, up 27.46% year-over-year, with net profit attributable to shareholders at ¥558 million, up 33.06%.

• All major business segments—communication cables, new energy automotive, electronic materials, and power products—achieved growth, with communication cables showing the most significant increase.

• Gross margin was 32.45%, down 0.78 percentage points year-over-year, mainly due to product mix and price adjustments.

• R&D investment increased by 22.89% year-over-year, supporting new product launches and technological upgrades.

Financial highlights

• Operating income: ¥3,945,268,729.71 (+27.46% YoY).

• Net profit attributable to shareholders: ¥558,073,697.97 (+33.06% YoY).

• Net profit excluding non-recurring items: ¥537,797,585.73 (+36.95% YoY).

• Operating cash flow: ¥346,246,410.02 (+54.63% YoY).

• Basic and diluted EPS: ¥0.4474 (+34.39% YoY).

• Total assets: ¥11,209,317,804.18 (+9.20% from year-end 2024).

• Net assets attributable to shareholders: ¥5,906,418,644.25 (+6.71% from year-end 2024).

Outlook and guidance

• The company expects continued growth in electronic communication and new energy power sectors, driven by AI, data centers, and electric vehicle infrastructure.

• Strategic focus remains on R&D, capacity expansion, and market penetration in high-growth segments.