Breton Technology (1333) H2 2025 earnings summary

Executive summary

• Achieved revenue of RMB779.5 million for 2025, up 22.7% year-over-year, driven by strong demand for battery-electric wide-body dump trucks.

• Gross profit rose 133.9% to RMB86.2 million, with gross margin improving to 11.1% from 5.8% in 2024.

• Loss for the year increased 15.9% to RMB318.2 million, mainly due to higher impairment losses and income tax expenses.

• Strategic focus on electrification, autonomous mining equipment, and overseas PV-energy storage projects.

Financial highlights

• Revenue: RMB779.5 million (2025) vs RMB635.5 million (2024), +22.7% year-over-year.

• Gross profit: RMB86.2 million (2025) vs RMB36.8 million (2024), +133.9% year-over-year.

• Gross margin: 11.1% (2025) vs 5.8% (2024), +5.3 percentage points.

• Loss for the year: RMB318.2 million (2025) vs RMB274.5 million (2024), +15.9% year-over-year.

• Basic and diluted loss per share: RMB0.86 (2025) vs RMB0.78 (2024).

Outlook and guidance

• Plans to consolidate leadership in new energy mining equipment and autonomous solutions.

• Focus on tiered intelligent mine demonstration projects, mass production of autonomous mining trucks, and expansion in Africa and Southeast Asia.

• Continued R&D in battery-electric and autonomous vehicles, with emphasis on scenario adaptability and global market penetration.