ShenZhen Woer Heat-Shrinkable Material (002130) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 reached ¥2.14 billion, up 23.87% year-over-year; year-to-date revenue was ¥6.08 billion, up 26.17% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥263.77 million, up 11.92% year-over-year; year-to-date net profit was ¥821.84 million, up 25.45% year-over-year.

• Growth was driven by increased sales in communication cables, new energy vehicle products, and electronic materials.

Financial highlights

• Gross margin for the nine-month period was 32.08%, slightly down by 0.76 percentage points year-over-year.

• Operating cash flow for the nine-month period was ¥624.58 million, up 13.80% year-over-year.

• Basic and diluted EPS for Q3 were both ¥0.2116, up 13.09% year-over-year; year-to-date EPS was ¥0.6590, up 26.73% year-over-year.

• R&D expenses increased 26.86% year-over-year, reflecting higher staff compensation and material costs.

Outlook and guidance

• The company is actively pursuing an H-share listing on the Hong Kong Stock Exchange, with applications submitted and regulatory processes underway.