WULING MOTORS (00305) announced its 2025 financial results, achieving revenue of approximately RMB 8.25 billion, a year-on-year increase of 3.8%. Gross profit reached about RMB 1.092 billion, up 27% compared to the previous year, while the gross profit margin further improved to 13.2% for the year. Annual profit amounted to roughly RMB 172 million, marking a 54.3% rise. Profit attributable to owners of the company was RMB 78.992 million, growing by 56%, with earnings per share at 2.4 cents. A final dividend of HK 0.6 cents per share was declared.
The automotive components and other industrial services division recorded revenue of RMB 5.788 billion, a 6% increase, and operating profit of RMB 185 million, up 20.3% year-on-year. The customer structure continued to optimize, with sales to SAIC-GM-WULING rebounding to RMB 3.288 billion. Sales to new customers, including Great Wall, BYD, and Vietnam's VinFast, accounted for 43% of total revenue, while overseas market growth was notable. Product advancements were made in areas such as electric drive axles, lightweight frames, and thermal gas expansion technology. New production bases were established in Shandong and Jiangsu provinces, overseas revenue from the Indonesia base increased, and the India base remained profitable.
The automotive power system division reported total revenue of approximately RMB 1.815 billion, showing moderate growth. Operating profit was RMB 9.792 million, successfully turning a loss into a profit. Engine sales remained steady at 153,000 units, while sales of casting products grew over 11% to 1.31 million units. The company expanded into new energy power products, including hybrid electric vehicle powertrains and methanol/hydrogen internal combustion engines, and entered the low-altitude economy sector by establishing a dedicated business unit. Drone power modules completed test flights for multiple prototypes and secured partnerships.
Additionally, the company strengthened its long-term development through increased R&D investment, with annual R&D expenses surging 64.5% to RMB 464 million. Focus areas included new energy power, lightweight technology, and intelligent driving, laying a solid technological foundation for business transformation. Cost control measures proved effective, with selling and distribution expenses and general and administrative expenses decreasing by 9.6% and 2.6%, respectively. Financing costs also dropped by 8.8%. Refined operations further optimized profitability, maintaining a robust financial position and providing a solid base for future expansion in new energy, globalization, and emerging sectors.
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