Wuling Motors Holdings Limited announced its audited results for the year ended 31 December 2025.
Financial Highlights • Revenue rose 3.8 % to RMB 8.25 billion. • Gross profit advanced 27.0 % to RMB 1.09 billion; gross margin improved to 13.2 % (FY24: 10.8 %). • Profit for the year increased 54.3 % to RMB 171.64 million. • Profit attributable to shareholders climbed 56.0 % to RMB 78.99 million. • Basic and diluted EPS stood at RMB 2.40 cents (FY24: RMB 1.53 cents), up 56.9 %. • Final dividend proposed at HKD 0.6 cent per share, a 20 % hike from the prior year; no interim dividend was paid.
Segment Performance 1. Automotive Components & Other Industrial Services – External revenue grew 6.0 % to RMB 5.79 billion, driven by higher orders from SAIC-GM-Wuling and expanding sales to Great Wall, Chery, Geely, BYD and overseas customers. – Segment EBIT rose 20.3 % to RMB 185.19 million, supported by improved product mix and cost controls despite heavier R&D spend.
2. Vehicles’ Power Supply Systems – External revenue edged up 4.5 % to RMB 1.82 billion. – Returned to profitability with EBIT of RMB 9.79 million (FY24: RMB –32.02 million) on cost discipline and stable engine and casting volumes; c.153,000 engines and 1.31 million casting units sold.
3. Commercial Vehicles Assembly – External revenue declined 14.6 % to RMB 613.49 million amid subdued demand. – Segment EBIT fell 25.2 % to RMB 56.79 million; lower raw-material costs and restructuring savings cushioned the impact of reduced volumes (about 5,600 vehicles sold).
Joint Ventures & Associates • Share of results from associates showed a net loss of RMB 65.51 million, reflecting start-up losses at new-energy vehicle affiliate Wuling New Energy (Group share of loss: RMB 97.05 million). • Joint ventures contributed a net profit of RMB 11.41 million, led by Guangxi Weixiang.
Cash Flow & Balance Sheet • Cash and pledged deposits totalled RMB 2.23 billion at year-end (-38.2 % YoY) after repayment of borrowings and placement of RMB 540 million in structured deposits. • Bank borrowings fell 23.4 % to RMB 2.28 billion; advances on discounted bills with recourse dropped 90.8 % to RMB 224.73 million. • Net current position shifted to a liability of RMB 311.79 million (FY24 net current assets: RMB 74.02 million), mainly due to debt repayments. • Capital expenditure reached RMB 315.70 million; R&D outlays rose 64.5 % to RMB 464.21 million, reflecting continued product development in EV, hybrid and lightweight technologies.
Dividend & Key Dates Subject to shareholder approval at the AGM on 11 June 2026, the HKD 0.6 cent final dividend will be paid on or before 31 July 2026 to shareholders on record as of 26 June 2026.
Outlook Remarks (per management discussion) Management plans to press ahead with product diversification, capacity upgrades and cost optimisation, while supporting new energy initiatives under the parent group’s “LINXYS” strategy.
Comments