ShenZhen Woer Heat-Shrinkable Material (002130) Q4 2025 earnings summary

Executive summary

• Revenue reached RMB 8,442.5 million in 2025, up 22.0% year-over-year, driven by strong growth in communication cables, new energy automotive power transmission, and electronic materials.

• Net profit attributable to shareholders was RMB 1,143.9 million, a 34.96% increase compared to the previous year.

• The company successfully listed H shares on the Hong Kong Stock Exchange in February 2026, marking a new stage in international capital markets.

• R&D investment reached RMB 446.2 million, supporting ongoing product innovation and over 2,000 effective patents.

Financial highlights

• Gross profit was RMB 2,561.0 million, up 21.35% year-over-year; gross margin slightly decreased to 30.33%.

• Operating profit before tax was RMB 1,421.6 million, up 32.4% year-over-year.

• Net profit for the year was RMB 1,220.7 million, up 32.61% year-over-year.

• Basic and diluted EPS were RMB 0.92, compared to RMB 0.68 in 2024.

• Total assets increased to RMB 12,260.6 million, and net assets to RMB 6,804.5 million.

• Final dividend proposed at RMB 1.65 per 10 shares, totaling approximately RMB 229.3 million.

Outlook and guidance

• The company will continue to focus on “electronic communication + new energy power” as dual core businesses.

• Plans include expanding international presence, optimizing business structure, and increasing investment in R&D and production capacity.

• The company aims to leverage its H-share listing to access diversified funding for global expansion and technology upgrades.