Zhejiang Wanfeng Auto Wheel (002085) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was ¥11.456bn, up 0.36% YoY; net income attributable to shareholders was ¥540.9m, down 25.81% YoY.

• Q3 revenue rose 1.38% YoY to ¥3.976bn, while attributable net income fell 46.28% to ¥122.8m.

Financial highlights

• 9M adjusted net income, excluding non-recurring items, was ¥414.6m, down 31.20% YoY; Q3 adjusted net income was ¥93.3m, down 56.72%.

• 9M operating profit was ¥690.3m versus ¥898.8m a year earlier; net profit was ¥639.0m versus ¥909.5m.

• 9M basic and diluted EPS were ¥0.25, down 26.47% YoY; Q3 EPS was ¥0.06, down 45.45%.

• 9M operating cash flow increased 12.67% YoY to ¥631.1m.

Outlook and guidance

• Priorities include growing lightweighting products for new-energy vehicles, expanding magnesium-alloy applications, and developing higher-value customer programs.

• Aircraft plans include eVTOL, DA40 and DART development and certification, global market expansion, and investment in supply-chain resilience and domestic delivery infrastructure.

• The strategy targets low-altitude aviation and urban air mobility through aircraft manufacturing, intelligent systems and takeoff-and-landing infrastructure.