On the evening of December 22, SANHUA, a leader in refrigeration control components and new energy vehicle thermal management, released its 2025 earnings forecast. The announcement revealed that the company expects significant growth in full-year net profit attributable to shareholders, with sustained improvement in profitability.
**Strong Earnings: Net Profit Expected to Surpass 4B Yuan** According to the announcement, SANHUA projects net profit attributable to shareholders of 3.87 billion to 4.65 billion yuan for the period from January 1 to December 31, 2025, representing year-on-year growth of 25%–50% compared to the previous year's 3.10 billion yuan.
In terms of "net profit after deducting non-recurring gains and losses," which better reflects core business profitability, the company forecasts 3.68 billion to 4.62 billion yuan, a robust increase of 18%–48% YoY. Basic earnings per share are expected to rise to 0.98–1.18 yuan.
**Growth Drivers: Synergy Between Traditional and Emerging Businesses** SANHUA attributed the substantial earnings growth to the combined strength of its two core business segments:
1. **Solid Traditional Foundation: Home Appliance Segment Maintains Dominance** In refrigeration and air conditioning components, SANHUA reinforced its industry leadership. The company capitalized on rising market demand, leveraging its deep technical expertise and economies of scale to further solidify its market position. This demonstrates the resilience and sustained growth potential of its traditional business.
2. **Emerging Momentum: Automotive Components Business Accelerates** As the company’s second growth engine, its automotive components division—particularly in new energy vehicle thermal management—delivered standout performance. With a global market footprint and partnerships with industry leaders like Tesla, SANHUA continues to secure high-quality orders. This not only validates its technological edge in thermal management but also fuels robust earnings growth.
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