Fiberglass and its products see both volume and price increases, China Jushi expects 34.38% year-over-year net profit growth in 2025, plans to distribute cash dividends of 1.435 billion yuan

(Source: Caixin)

In 2025, the company will fully implement sales strategies focused on increasing volume, restoring prices, stabilizing prices, and adjusting prices. The sales of fiberglass and its products will grow, prices will rise, and gross profit margins will improve.

On March 19, China Jushi Co., Ltd. (600176.SH) announced that in 2025, it achieved operating revenue of 18.881 billion yuan, a year-on-year increase of 19.08%; net profit was 3.285 billion yuan, a year-on-year increase of 34.38%. The company plans to distribute a cash dividend of 1.9 yuan (tax included) for every 10 shares to all shareholders, with an estimated total cash dividend of 1.435 billion yuan (tax included), accounting for 43.66% of the company’s net profit in 2025.

The company stated that its main product revenue comes from the sales of fiberglass yarn and its products. In 2025, the revenue from fiberglass yarn and products reached 18,345.08 million yuan, accounting for 99.01% of the main business revenue. Compared to the previous year, revenue from fiberglass yarn and products increased by 18.51%, operating costs rose by 6.18%, and gross profit margin increased by 7.87 percentage points. The main reason is that in 2025, the company fully implemented sales strategies of increasing volume, restoring prices, stabilizing prices, and adjusting prices, leading to growth in sales volume and prices of fiberglass and its products, and an increase in gross profit margin. The other listed business is the company’s wind power generation, which achieved an annual revenue of 183.5476 million yuan, with a gross profit margin of 70.38%.

In the company’s main business, domestic revenue accounted for 66.89%, up 5.02 percentage points from the previous year. Domestic revenue increased by 28.89% year-on-year, while foreign revenue increased by 3.52%. The main reasons are the steady upward demand in the fiberglass industry, rapid growth in the domestic market, product structure adjustments, increased proportion of electronic fabrics, and the full-year operation of Huai’an wind power generation, which significantly increased power generation compared to the previous year. Domestic revenue and gross profit margin growth were both higher than those overseas.

Within the main business, direct sales accounted for 76.58%, up 6.48 percentage points from the previous year. In 2025, influenced by product structure adjustments, price increases, and growth in wind power generation, both direct sales and distribution channels saw a certain increase in gross profit margins.