Yutong Heavy Industries’ net profit attributable to the parent company in 2025 increased by 36.25%, while revenue from its main business rose 5.1% against the trend.

Blue Whale News, April 2: On April 2, Yutong Heavy Industry released its 2025 performance report. The financial report shows that the company’s 2025 operating revenue was 3.49B yuan, down 8.20% year over year; net profit attributable to shareholders was 309 million yuan, up 36.25% year over year; and non-recurring profit and loss net profit was 202 million yuan, up 16.90% year over year.

Non-recurring gains and losses amounted to 107.60 million yuan, accounting for 34.86% of net profit attributable to shareholders. Among them, gains and losses from the disposal of non-current assets were 119.00 million yuan. The gross margin increased by 3.15 percentage points year over year to 24.71%, and the net profit margin rose by 2.79 percentage points to 8.87%. Net cash flow from operating activities was 3.2697 million yuan, down sharply by 99.43% year over year. The main reason was that during this period the company paid purchase/supplier invoices significantly more than in the same period of the previous year, as it responded to the government’s call and proactively compressed suppliers’ payment terms.

The dual-wheel-driven pattern of sanitation equipment and construction machinery continues to be further strengthened. The former’s revenue was 1.58B yuan, accounting for 45.28% of total revenue; the latter’s revenue was 1.52B yuan, accounting for 43.59%. Together, the two contributed 88.87% of operating revenue. The revenue mix is becoming more balanced, with a clear shift compared to the prior structure dominated solely by sanitation equipment.

Domestic revenue reached 3.27B yuan, accounting for 93.86%; overseas revenue was only 14.00 million yuan, accounting for 0.40%. The expansion of overseas markets has continued to be weak, and the geographic concentration has further increased.

R&D investment was 134.00 million yuan, up 3.92% year over year, and accounted for 3.85% of revenue; the number of R&D personnel remained at 405, with no change.

The dividend policy remains steady. For fiscal year 2025, the company plans to distribute cash dividends of 4 yuan per 10 shares (including tax), with a total planned cash distribution of 212.00 million yuan. For the first half of 2025, cash dividends of 1 yuan per 10 shares had already been implemented, totaling 53.00 million yuan.