Will Semiconductor (603501) Q4 2025 earnings summary

Executive summary

• Achieved operating revenue of RMB 28.85 billion in 2025, up 12.14% year-over-year, with net profit attributable to shareholders rising 21.73% to RMB 4.05 billion.

• Image sensor solutions remained the largest segment, contributing 73.73% of main business revenue, with strong growth in automotive and emerging markets.

• Completed successful H-share listing in Hong Kong, raising HKD 5.318 billion to support R&D, global expansion, and strategic investments.

• Distributed cumulative cash dividends of RMB 607.91 million in 2025, representing 15.03% of net profit.

Financial highlights

• Operating revenue: RMB 28.85 billion, up 12.14% year-over-year.

• Net profit attributable to shareholders: RMB 4.05 billion, up 21.73% year-over-year.

• Gross margin improved to 30.59%, up 1.23 percentage points from prior year.

• Basic EPS: RMB 3.37, up 21.66% year-over-year.

• Net cash flow from operating activities: RMB 4.12 billion, down 13.67% year-over-year.

Outlook and guidance

• Global semiconductor market expected to grow at 11% CAGR through 2029, with AI and automotive as key drivers.

• Company to increase R&D investment, expand product lines, and pursue M&A for growth in automotive, AI, and emerging verticals.

• Focus on supply chain optimization, talent development, and global market penetration.