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Express News | Tonghe Technology: Plans to raise no more than RMB 522 million for projects including the R&D and production of power supply and distribution systems and modules for data centers
Tonghe Technology (300491) 2025 Annual Report and 2026 Q1 Report Commentary: Riding the AI Power Supply Fast Track and Benefiting from High Demand in Specialized Business Segments
Event: The company announced on March 26 that it achieved revenue of RMB 1.557 billion (+28.78%) and parent company attributable net profit of RMB 400 million (+67.72%) in 2025, with a gross margin of 24.39% (down 2.86 percentage points).
Tonghe Technology (300491) 2025 Annual Report and 2026 Q1 Report Commentary: Earnings Inflection Point Has Emerged; New HVDC Projects Launch a New Growth Cycle
Matter: The company released its 2025 annual report and Q1 2026 report. Revenue for 2025 amounted to RMB 1.557 billion, up 29% year-over-year; attributable net profit was RMB 400 million, an increase of 68% year-over-year; and adjusted attributable net profit was RMB 340 million.
Morgan Stanley estimates a 55GW power shortage for data centers, making the upgrade of data center power equipment an inevitable trend.
①Morgan Stanley forecasts a 55GW power shortage for data centers. ②Huayuan Securities anticipates that overseas ±400V/800V HVDC is likely to enter its initial year of significant growth, with SST continuing to advance.
Shijiazhuang Tonhe Electronics Technologies: First Quarter Report 2026
Tonghe Technology (300491.SZ) released its first-quarter financial results, reporting a net loss attributable to shareholders of RMB 309,200, representing a 95.26% reduction in losses.
Tonghe Technology (300491.SZ) released its first-quarter report for 2026. The company's operating revenue amounted to 291 million yuan, representing a year-on-year increase of 40.19%. The net loss attributable to shareholders of the listed company was 309,200 yuan, narrowing by 95.26% year-on-year. The net loss attributable to shareholders of the listed company, excluding non-recurring gains and losses, was 2.265 million yuan, narrowing by 71.38% year-on-year. The basic loss per share was 0.0018 yuan.