AUX's first annual report after going public: net profit declined over 20%, Huacai's revenue dropped nearly 40%

NightAirdropper · 2026-03-28T18:00:35+00:00

AUX Electrical's revenue in 2025 is 30.049 billion yuan, a slight increase of 0.97% year-on-year; net profit is 2.235 billion yuan, down 23.2% year-on-year. Competition in the air conditioning market has intensified, with gross profit margin decreasing to 18.8%. The stock price opened below the issuance price, facing downward pressure from revenue declines in multiple regions.

NightAirdropper

2026-03-28 18:00:35

Abstract generation in progress

Beijing News Shell Finance reported (Reporter Chen Weicheng) that on the evening of March 27, Aux Electric (02580) released its performance for 2025, showing that the group achieved revenue of 30.049 billion yuan, an increase of 0.97% year-on-year; the profit attributable to the parent company’s shareholders was 2.235 billion yuan, a decrease of 23.2% year-on-year.

In September 2025, Aux Electric officially listed on the Hong Kong Stock Exchange, with an initial share price of 17.42 HKD, but it fell below the issue price at the opening. In 2025, the competition in China’s air conditioning market was fierce, putting pressure on Aux and other mid-tier brands. As of the close on March 27, Aux Electric’s stock price was 9.2 HKD, with a market capitalization of 14.6 billion HKD.

Specifically, the revenue from Aux’s household air conditioners was 26.235 billion yuan, a slight year-on-year increase of 1.3%; the revenue from central air conditioning was 3.285 billion yuan, an increase of 1.9%. By brand, Aux brand revenue was 15.914 billion yuan, an increase of 2.5%; Huasan brand revenue was 829 million yuan, a significant decline of 39.0%; the new brand AUFIT contributed revenue of 996 million yuan.

From a regional market perspective, revenue from mainland China was 15.308 billion yuan, an increase of 1.5%; revenue from Asia (excluding mainland China) was 8.208 billion yuan, a year-on-year increase of 11.8%, mainly driven by sales of new models. Revenue from North America was 1.452 billion yuan, a significant decline of 30.7%; revenue from Europe was 2.835 billion yuan, a decrease of 6.3%.

In terms of financial performance, the group’s profit for the year was 2.235 billion yuan, a decrease of 23.2% year-on-year. The gross profit margin fell from 21.0% in 2024 to 18.8% in 2025, mainly due to intense market competition, rising raw material prices, and higher inventory levels in some regions. The earnings per share attributable to ordinary equity holders of the parent company was 1.56 yuan, lower than the previous year’s 2.23 yuan.

Editor Wei Yingzi

Proofreader Zhao Lin

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.