Zhejiang E-P Equipment (603194) Q2 2025 earnings summary

Executive summary

• Achieved strong H1 2025 growth driven by innovation, globalization, and manufacturing excellence, with revenue reaching RMB 3.43 billion, up 9.20% year-over-year, and net profit attributable to shareholders at RMB 447.50 million, up 6.64% year-over-year.

• Launched 130 new products and expanded smart, green, and digital offerings, maintaining leadership in electric warehouse and lithium battery forklifts.

• Signed a strategic partnership with Jungheinrich and expanded global footprint with new subsidiaries and a production base in Vietnam, Turkey, and Thailand.

• Cash flow from operating activities improved significantly to -RMB 20.49 million from -RMB 145.71 million in H1 2024.

Financial highlights

• Revenue rose 9.2% year-over-year to RMB 3,430.70 million in H1 2025.

• EBIT increased 9.7% year-over-year to RMB 547.36 million.

• Net profit grew 6.6% year-over-year to RMB 447.50 million.

• EBIT margin improved slightly to 15.95%, while net income margin decreased to 13.04%.

• EPS declined 8.94% year-over-year to 1.12; ROE fell to 8.99% from 13.65%.

Outlook and guidance

• Plans to complete lithium-ion lineup and broaden green product offerings, with continued investment in green, intelligent, and digital transformation.

• Focus on advancing smart and digital solutions to drive Industry 4.0 transformation and expand overseas markets.

• Strategic initiatives target large-scale adoption of smart logistics and sustainability.