Dawning Information Industry Co.,Ltd. disclosed its 2025 performance report on February 24. During the reporting period, the company's revenue increased by 13.86% year-over-year. The growth rate of non-GAAP net profit was significantly higher than the overall net profit, indicating a continuous enhancement of the endogenous growth momentum from its main business operations.
Key highlights from the performance report are as follows:
* Total operating revenue reached 14.970 billion yuan, a year-over-year increase of 13.86%. * Net profit attributable to shareholders of the parent company was 2.113 billion yuan, up 10.54% year-over-year. * Non-GAAP net profit reached 1.785 billion yuan, surging 30.17% compared to the previous year.
The company attributed its performance growth to three main drivers: continuous optimization of its product portfolio, provision of diverse and high-quality solutions, and steadily improving operational efficiency. Against the backdrop of persistently strong demand for domestic computing power, Dawning Information Industry Co.,Ltd., as a leading enterprise in China's high-performance computing and server sector, is accelerating its capture of market benefits.
From the perspective of the balance sheet, the company's total assets grew by 12.47% from the beginning of the year to 41.183 billion yuan. Equity attributable to shareholders of the parent company increased to 22.161 billion yuan, and net assets per share rose to 15.15 yuan, further solidifying the company's financial foundation and reflecting a robust and positive overall operating trend.
The 30% surge in non-GAAP net profit confirms the resilience of the core business. In 2025, Dawning Information Industry Co.,Ltd. achieved total operating revenue of 14.970 billion yuan, a 13.86% increase year-over-year, representing a net increase of 1.822 billion yuan compared to the same period last year. This growth rate confirms the continued consolidation of the company's competitive advantages in the server, high-performance computing, and cloud computing infrastructure markets.
Benefiting from the rapid expansion of domestic demand for AI model training and inference, coupled with the accelerated digital transformation of government and enterprises, procurement demand for high-performance servers and computing infrastructure remains robust. Leveraging its first-mover advantage in the localization track, the company has effectively capitalized on this industry upcycle.
Profitability exhibited higher-quality growth. During the reporting period, net profit attributable to shareholders was 2.113 billion yuan, up 10.54% year-over-year. Non-GAAP net profit reached 1.785 billion yuan, a substantial increase of 30.17% year-over-year, with its growth rate significantly outpacing that of the overall net profit. The narrowing gap between the two growth rates indicates a reduced reliance on non-recurring gains, with the profit contribution from the main business continuously increasing. Profit growth is increasingly dependent on genuine business expansion and efficiency improvements.
Operating profit and total profit were 2.451 billion yuan and 2.448 billion yuan, respectively, maintaining a healthy growth rate of approximately 7% year-over-year, indicating the overall health of the profit chain.
Asset scale expanded steadily. During the reporting period, the company's basic earnings per share increased from 1.31 yuan in the prior year to 1.45 yuan, a year-over-year increase of 10.69%, essentially matching the net profit growth rate. The number of shares outstanding decreased slightly by 0.01% to 1.463 billion shares. Net assets per share attributable to shareholders rose from 13.94 yuan to 15.15 yuan, an increase of 8.68%, indicating continuous accumulation of net assets. The weighted average return on equity was 9.96%, a slight improvement of 0.15 percentage points from 9.81% in the previous year, demonstrating stable and slightly improving profitability efficiency.
As of the end of 2025, the company's total assets reached 41.183 billion yuan, an increase of 12.47% from the beginning of the year. Equity attributable to shareholders of the parent company was 22.161 billion yuan, up 8.62% year-over-year, with the pace of net asset accumulation aligning with profitability. The steady expansion of the asset scale reflects continued capital investment during business expansion and provides a solid foundation for undertaking larger orders and exploring new business areas in the future.
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