Haihua Technology (ST Haihua) reported revenue of 3.23 billion yuan in 2025, an increase of 36.59%, while its non-recurring net profit was -87.0386 million yuan, representing a year-on-year decrease of 19.81%.

The company reported revenue of 323 million yuan in 2025, a year-on-year increase of 36.59%, primarily driven by the expansion of its natural gas business. However, net profit attributable to shareholders remained negative at 81.6829 million yuan, with the loss narrowing by 8.25 million yuan. The annual loss was highly concentrated in Q4 (accounting for 92%), mainly due to significant expenses from mergers and acquisitions as well as the establishment of new entities, coupled with an increased proportion of low-margin clean energy sales and pressure on the elevator components business. The core business is accelerating its shift toward clean energy, but the overall gross margin slightly declined. Profitability continues to rely on non-recurring gains and losses, raising concerns about sustainability.

lanjinger.comApr 28 13:09

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