Changyou Technology: Net profit in 2025 is expected to decrease by 15.52% year-on-year, with a proposed 10-for-4 share conversion and a dividend of 9 yuan

Changyou Technology (301557) disclosed its annual report on April 27, 2025, achieving operating revenue of 1.18B yuan, a year-on-year increase of 12.2%; net profit attributable to the parent company was 88.9952 million yuan, a decrease of 15.52% year-on-year; basic earnings per share were 2.09 yuan. The company plans to distribute a cash dividend of 9 yuan (tax included) for every 10 shares, and to transfer 4 shares for every 10 shares. During the reporting period, the main factors were the overall recovery of the wind power industry and the continuous increase in downstream market demand, leading to an increase in product shipment volume compared to the same period last year. The company’s profit and profitability levels were under pressure mainly due to a decline in gross profit margin and an increase in period expenses. Due to the industry’s “annual price decline” and fluctuations in raw material prices such as fiberglass and gel coat, the overall gross profit margin of products has decreased, which has had a certain impact on the company’s overall operating performance.