Tingyi Cayman Islands (322) H2 2025 earnings summary

Executive summary

• Revenue declined by 2.0% year-over-year to RMB 79,068 million, with gross margin rising 1.7ppt to 34.8%.

• Net profit rose 19.8% to RMB 5,176 million, while profit attributable to owners surged 20.5% to RMB 4.50 billion.

• EBITDA increased by 10.2% year-over-year to RMB 10.61 billion.

• Adjusted profit attributable to owners grew 14.1%, excluding one-off gains from asset disposals.

• CEO transition completed in early 2026, with new management in place.

Financial highlights

• Gross profit increased 3.1% year-over-year to RMB 27,532 million.

• EPS rose to 79.86 cents from 66.28 cents year-over-year.

• Net cash from operating activities was RMB 8,202 million in 2025.

• CapEx for 2025 was RMB 3,112 million.

• Proposed final and special dividends both at 39.92 cents per share.

Outlook and guidance

• 2026 marks the start of the 15th Five-Year Plan, with focus on high-quality development, product innovation, digital transformation, and organizational efficiency.

• Forward-looking statements caution on risks and uncertainties affecting future performance.