X.J. Electrics (Hu Bei) (2619) H2 2025 earnings summary

Executive summary

• FY2025 revenue fell 14.1% YoY to RMB1,289.8m and profit fell 63.88% to RMB50.7m amid weaker export demand, product-mix pressure, FX losses and overseas-factory ramp-up costs.

• Overseas production capacity in Indonesia and Thailand began operations; priorities for 2026 include small-appliance launches, North American warehouses and a superconducting-cable project.

Financial highlights

• Revenue RMB1,289.801m, down from RMB1,501.510m; gross profit RMB253.255m, down from RMB328.524m.

• Profit attributable to owners RMB50.723m vs RMB140.425m; basic and diluted EPS RMB0.21 vs RMB0.69.

• Profit before tax RMB63.116m vs RMB161.315m; income tax expense RMB12.393m vs RMB20.890m.

Outlook and guidance

• 2026 plans include additional rice-cooker models with a U.S. brand, mass-market multi-cookers and upgraded electric kettles; rice cookers are expected to generate substantial revenue, with multi-cookers expected to add significant sales.

• Plans to establish North American warehouses to shorten delivery cycles, reduce logistics costs and support online sales through platforms including Walmart and Amazon.

• Superconducting-cable project slated to launch in 2026, targeting applications including EVs, 5G/6G and AI data-center interconnects.