WOER (09981) opened nearly 9% lower following the release of its financial results. As of the time of writing, the stock was down 8.99%, trading at HKD 18.73, with a turnover of HKD 1.9292 million.
On April 24, WOER announced its financial results for the first quarter of 2026. The company reported revenue of approximately RMB 2.032 billion, representing a year-on-year increase of 15.52%. However, net profit attributable to shareholders of the listed company was about RMB 231 million, a decrease of 7.63% compared to the same period last year. Basic earnings per share stood at RMB 0.1726.
The company attributed the decline in net profit primarily to several factors. Although overall revenue increased year-on-year, income from high-margin products such as high-voltage power products and wind power business declined. Furthermore, rising raw material costs had not yet been fully passed on to product prices during the period, leading to a decrease in the overall gross profit margin.
WOER also continued to invest in business expansion to enhance its market share. The company has been actively developing new products and optimizing existing ones to strengthen its competitive position. These efforts resulted in increased expenditures in sales, administrative, and research and development expenses compared to the same period last year.
Additionally, due to the continued depreciation of foreign currencies such as the US dollar and Hong Kong dollar, the company experienced an increase in exchange losses, contributing to higher financial expenses.
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