Zhejiang Juhua (600160) H1 2025 earnings summary

Executive summary

• Achieved revenue of ¥13.33 billion in H1 2025, up 10.36% year-over-year, with net profit attributable to shareholders of ¥2.05 billion, up 146.97%.

• Operating cash flow reached ¥2.67 billion, up 340.52% year-over-year.

• Core fluorochemical business maintained domestic and global leadership, with significant price recovery in refrigerants.

Financial highlights

• Revenue: ¥13.33 billion (+10.36% YoY); Net profit: ¥2.05 billion (+146.97% YoY).

• Operating profit: ¥2.61 billion (+148.72% YoY); Basic EPS: ¥0.76 (+146.75% YoY).

• Net assets: ¥19.24 billion (+7.78% from year-end); Total assets: ¥32.43 billion (+13.71%).

• Operating cash flow: ¥2.67 billion (+340.52% YoY).

Outlook and guidance

• Company expects continued opportunities in core refrigerants due to quota system and global demand.

• Non-refrigerant chemical business faces ongoing market pressure; focus remains on innovation and high-end materials.

• No interim dividend or capital increase from reserves proposed.