Noblelift Intelligent Equipment (603611) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was RMB 6.69 billion, down 4.14% year-over-year; net profit attributable to shareholders was RMB 429 million, down 7.08% year-over-year; net profit excluding non-recurring items was RMB 328 million, down 17.30% year-over-year.

• Total assets reached RMB 9.52 billion, up 7.90% from the previous year; net assets attributable to shareholders rose 7.96% to RMB 3.17 billion.

• The company maintained stable operations amid global economic and geopolitical challenges, with continued investment in R&D and digital transformation.

• Major honors and awards were received for innovation and industry leadership, and several new products and technologies were launched.

Financial highlights

• Operating income: RMB 6.69 billion, down 4.14% year-over-year.

• Net profit attributable to shareholders: RMB 429 million, down 7.08% year-over-year.

• Net profit excluding non-recurring items: RMB 328 million, down 17.30% year-over-year.

• Basic and diluted EPS: RMB 1.67, down 6.70% year-over-year.

• Operating cash flow: RMB 837 million, up 9.39% year-over-year.

• Gross margin for intelligent equipment: 24.26%; for logistics systems: 19.98%.

Outlook and guidance

• 2026 is positioned as a “Quality Year,” focusing on high-quality growth, digitalization, and global expansion.

• Plans to accelerate electric vehicle and large vehicle strategies, enhance R&D in core technologies, and expand into new markets.

• Continued investment in digital transformation and supply chain resilience.