Wanxiang Qianchao's revenue and net profit will both increase in 2025, with R&D investment growing by 7.47% year over year.

Blue Whale News, April 7 — On April 6, Wanxiang Qianchao released its 2025 performance report. The data shows that in 2025, the company achieved operating revenue of 13.39B yuan, up 4.06% year over year; net profit attributable to shareholders was 1.04B yuan, up 8.89%; and profit from non-recurring items after deduction was 917 million yuan, down 1.72% year over year.

The operating business structure continued to converge, and concentration increased further. Revenue from the automotive parts business reached 11.38B yuan, accounting for 84.99% of total revenue, up from before; revenue related to the purchase and sale of ferrochrome was 1.87B yuan, accounting for 13.97%; together, the two contributed nearly 90% of total revenue.

By region, domestic sales volume was 11.77B yuan, accounting for 87.90%; overseas sales were 1.48B yuan, accounting for 11.06%. The share of overseas market revenue did not show any obvious improvement, and the company’s dominance in the domestic market was further strengthened.

In 2025, the total amount of non-recurring gains and losses was 118 million yuan, accounting for 11.33% of net profit attributable to shareholders, and was the main reason for the difference in growth rates between net profit attributable to shareholders and profit from non-recurring items after deduction. Among them, government subsidies of 60.5926 million yuan and supply-chain financing income of 66.4272 million yuan were the primary sources. In the same period, selling expenses were 153 million yuan, down slightly by 0.98% year over year. R&D investment was 559 million yuan, up 7.47%, accounting for 4.17% of revenue. The number of R&D personnel increased to 878, up 2.57%, and the unit R&D manpower output intensity improved to some extent.

By quarter, in the fourth quarter of 2025, single-quarter operating revenue was 2.99B yuan; net profit attributable to shareholders was 262 million yuan; and profit from non-recurring items after deduction was 180 million yuan, accounting for 22.30%, 25.33%, and 19.68% of the full year’s corresponding indicators, respectively.

On dividends, the company plans to use 3.32B shares as the base, and will distribute a cash dividend of 2.00 yuan per 10 shares (inclusive of tax), for a total cash distribution of 663 million yuan.