Shenzhen Zhaowei Machinery & Electronics (003021) Q4 2025 earnings summary

Executive summary

• Achieved revenue of RMB1,715.53 million for 2025, up 12.52% year-over-year, with net profit rising 13.20% to RMB255.18 million.

• Gross profit increased 20.45% to RMB572.81 million, with gross margin improving to 33.4% from 31.2% year-over-year.

• Strong growth in automotive and robotics segments offset a decline in consumer and healthcare technology revenue.

• Completed Suzhou Industrial Park, expanded global footprint, and launched next-generation dexterous hand products.

Financial highlights

• Revenue: RMB1,715.53 million (+12.52% YoY); net profit: RMB255.18 million (+13.20% YoY).

• Gross profit: RMB572.81 million (+20.45% YoY); gross margin: 33.4% (up from 31.2%).

• EPS: Basic RMB1.07, Diluted RMB1.06 (both +13.83% YoY).

• Operating cash conversion ratio: 0.62x; monetary assets >5.95% of current assets.

• Asset-liability ratio decreased to 19.33% from 21.73% YoY.

Outlook and guidance

• Focus on expanding proprietary brand, accelerating commercialization of dexterous hand products, and investing in AI-powered digital innovation.

• Plans to optimize capacity layout, expand global footprint, and deepen customer penetration.

• Directors believe sufficient working capital is available for the next 12 months.