Zhejiang E-P Equipment (603194) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥7.25 billion in 2025, up 10.70% year-over-year; net profit attributable to shareholders was ¥858.61 million, up 2.24% year-over-year.

• Maintained industry leadership in electric warehouse forklifts for 12 consecutive years; expanded global presence with new subsidiaries in Turkey, Vietnam, Japan, and other regions.

• Enhanced product innovation, winning international and domestic awards for smart logistics and green solutions.

• Completed major investments in production lines, R&D centers, and digital logistics systems.

Financial highlights

• Operating income: ¥7.25 billion, up 10.70% year-over-year.

• Net profit attributable to shareholders: ¥858.61 million, up 2.24% year-over-year.

• Gross margin: 29.08%, up 0.39 percentage points year-over-year.

• Basic and diluted EPS: ¥2.14, down 13.36% year-over-year due to increased share base.

• Operating cash flow: ¥650.88 million, up 45.65% year-over-year.

• Total assets: ¥9.03 billion, up 16.16% year-over-year.

• Net assets: ¥5.34 billion, up 10.37% year-over-year.

Outlook and guidance

• Industry expects continued growth in electric and smart forklifts, with China maintaining global leadership.

• Company will focus on green, digital, and intelligent transformation, expanding R&D and global operations.

• 2026 strategy includes deepening global channels, enhancing product innovation, and optimizing supply chain resilience.