Shangwei New Materials to achieve a net profit of 41.0856 million yuan in 2025, with an increase of 21.2385 million yuan in R&D investment.

On the evening of March 30, Weiyi New Materials announced that in 2025 its operating revenue was 1.797 billion yuan, up 20.29% year over year; attributable net profit to the parent company was 41.0856 million yuan, down 53.67% year over year. The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserve into share capital.

Regarding the reasons for the changes in performance, the financial report shows that during the reporting period, the growth in operating revenue was mainly due to factors including the overall recovery of the wind power industry and increased market demand, which led to sales volume rising compared with the same period last year. Attributable net profit decreased compared with the previous period mainly because, to further enhance the core competitiveness of its products, the company actively explored new businesses and significantly increased R&D investment. The company’s investee, Meijia New Materials, experienced an operational downturn due to domestic competition and policy changes, and since key investment projects were not able to commence production and operate, the company recognized an investment loss of 22.1011 million yuan. The company’s customer, TPI, underwent bankruptcy and restructuring; according to the restructuring agreement and the actual cash receipts, the company made a specific provision for credit impairment losses of 11.1988 million yuan.

Weiyi New Materials was founded in 2000 and mainly focuses on R&D, production, and sales of new materials. Its principal business covers areas such as environmentally friendly high-performance corrosion-resistant materials, materials for wind turbine blades, new composite materials, and circular economy materials. The company’s products are mainly used in two major sectors: energy conservation and environmental protection, and new energy.

As of December 31, 2025, Weiyi New Materials’ new materials business had cumulatively obtained 134 authorized patents, including 10 authorized patents newly added in 2025. The annual report shows that Weiyi New Materials focuses on the development of green energy, environmental protection, safety materials, and recyclable materials, providing products and services for a circular and sustainable planet. The company’s cumulative participation in standard drafting totals 19 items.

By business segment, in 2025, Weiyi New Materials’ environmentally friendly high-performance corrosion-resistant materials achieved revenue of 682 million yuan, down 1.24% year over year. The main reason was a slight decline in unit prices, resulting in a small decrease in revenue, along with fluctuations in raw material prices and a slight decrease in costs.

Materials for wind turbine blades achieved revenue of 830 million yuan, up 38.7% year over year, mainly due to an increase in sales volume. New composite materials achieved revenue of 85.4224 million yuan, up 0.47%. Circular economy materials achieved revenue of 98.5475 million yuan, up 259.20%, mainly because the shipment volume increased during the reporting period and unit ocean freight rates rose, causing the increase in operating costs to exceed the increase in revenue.

In terms of production and sales volume, in 2025, the production and sales of Weiyi New Materials’ environmentally friendly high-performance corrosion-resistant materials and new composite materials were basically stable. Among them, the sales volume of materials for wind turbine blades increased by 54.85% year over year, and the sales volume of circular economy materials increased by 200.91% year over year. Increased demand drove an increase in production volume.

Based on the overall figures in the financial report, the new materials business remains Weiyi New Materials’ main business. At the same time, Weiyi New Materials is also actively exploring the consumer-grade embodied intelligent robot business. In July 2025, the operating entity and core team of Zhiyuan Robotics planned to acquire at least a total of 63.62% of the shares of Weiyi New Materials and become the controlling shareholder of Weiyi New Materials. Industry insiders regard this as a landmark acquisition case for “new-quality productive forces” enterprises in the A-share market, and also as the first acquisition case by an embodied intelligence company on the STAR Market.

The financial report shows that during the reporting period, Weiyi New Materials established a consumer-grade embodied intelligent robot R&D team. To enhance the company’s core competitiveness, it increased R&D investment by 21.2385 million yuan, and during the reporting period newly applied for 21 patents related to the embodied intelligent robot business. However, Weiyi New Materials’ consumer-grade embodied intelligent robot business is in the product development stage and has not generated operating revenue; the related R&D investments have been recorded in current-period profit or loss.

On December 31, 2025, Weiyi New Materials’ chairman, Peng Zhihui (Zhibei Jun), officially released its first all-body force-control small-sized humanoid robot, “Qiyuan Q1,” and announced that Weiyi New Materials would enter the personal robotics track under the brand “Weiyi Qiyuan.” Weiyi New Materials stated in its financial report that during the reporting period, the company actively explored the consumer-grade embodied intelligent robot business, focusing on personal and household scenarios. The company highlights small-sized robots with core features such as whole-body force control, flexible impedance control, and multimodal interaction. Product R&D prototype machines will be showcased at the 2026 CES exhibition, but currently this business has not yet entered mass production.

Looking ahead to 2026, Weiyi New Materials said that, under the premise of stable main business operations, healthy operations, and controllable risks, it will actively explore the consumer-grade embodied intelligent business. The company will mainly explore the new business in three steps: quietly polishing the products; prudently validating application scenarios and consumer experience; and, on the premise that product experience is mature, quality is controllable, consumer validation is sufficient, and compliance is handled prudently, advancing large-scale mass production and product launches when the timing is right.

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