Shenzhen Kedali Industry (002850) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 reached ¥3.96 billion, up 25.81% year-over-year; year-to-date revenue was ¥10.60 billion, up 23.41% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥415 million, up 12.75% year-over-year; year-to-date net profit was ¥1.18 billion, up 16.55% year-over-year.

• Operating cash flow for the first nine months was ¥1.93 billion, up 7.89% year-over-year.

Financial highlights

• Gross margin remained stable as revenue and cost of sales both increased by over 23% year-over-year.

• Basic EPS for the first nine months was ¥4.34, up from ¥3.76 year-over-year.

• Total assets at quarter-end were ¥21.48 billion, up 12.77% from the previous year-end.

• Owner's equity attributable to shareholders was ¥12.70 billion, up 9.08% from year-end.

• Non-recurring gains for the period included government subsidies and financial asset gains totaling ¥56.04 million.

Outlook and guidance

• Expansion projects in Hungary and Thailand are expected to enhance overseas production capacity and support global strategy.

• U.S. project location shifted to Wisconsin to optimize supply chain and talent resources.