Zhejiang Dingli Machinery (603338) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥8.58 billion in 2025, up 9.96% year-over-year; net profit attributable to shareholders was ¥1.90 billion, up 16.60% year-over-year.

• Overseas revenue grew 16.45% year-over-year, reaching ¥6.43 billion, with strong global market expansion.

• R&D investment increased 13.75% to ¥291 million, with 357 R&D staff (13.77% of total employees).

• Maintained industry leadership in electric and intelligent aerial work platforms, with all product lines now electrified.

Financial highlights

• Operating income: ¥8.58 billion, up 9.96% year-over-year.

• Net profit attributable to shareholders: ¥1.90 billion, up 16.60% year-over-year.

• Basic and diluted EPS: ¥3.75, up 16.46% year-over-year.

• Gross margin: 33.60%, slightly down by 0.08 percentage points year-over-year.

• Operating cash flow: ¥1.31 billion, down 31.52% year-over-year due to increased cash outflows for purchases and taxes.

• Total assets: ¥17.35 billion, up 13.03% year-over-year; net assets: ¥11.41 billion, up 13.66%.

Outlook and guidance

• 2026 focus on global market expansion, product innovation, and green transformation.

• New 20,000-unit/year electric platform factory to start trial production, enhancing product line and capacity.

• Continued investment in R&D, digitalization, and ESG initiatives to drive sustainable growth.