Zhejiang Juhua (600160) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 reached ¥20.39 billion, up 13.8% year-over-year, driven by higher refrigerant product prices.

• Net profit attributable to shareholders was ¥3.25 billion, a 160.2% increase year-over-year.

• Basic and diluted EPS for the period were ¥1.203, up from ¥0.462 in the prior year.

Financial highlights

• Operating income for the first three quarters was ¥20.39 billion, with operating profit at ¥4.18 billion.

• Gross margin improved due to increased sales and higher product prices.

• Net cash flow from operating activities was ¥3.63 billion, a 361.5% increase year-over-year.

• Total assets at quarter-end were ¥34.25 billion, up 20.1% from the previous year-end.

• Shareholders’ equity rose to ¥20.43 billion, a 14.5% increase from the previous year-end.

Outlook and guidance

• Profit growth attributed to sustained high prices in refrigerant products.

• Management expects continued positive impact from product pricing and sales momentum.