HAIWEI ELEC (09609) issues profit warning, expecting a 40% to 50% year-on-year decline in net profit attributable to shareholders for the year 2025.

HAIWEI ELEC (09609) announced that the group expects (i) a decrease in revenue of 15% to 25% for the year ending December 31, 2025, with revenue for the year ending December 31, 2024, being RMB 421.7 million; (ii) a decrease in profit attributable to owners of the company of 40% to 50% for the year ending December 31, 2025, with profit attributable to owners of the company for the year ending December 31, 2024, being approximately RMB 89.88 million. The main reasons for the decrease in profit attributable to owners of the company are (i) the impact of intensified competition in the domestic market, resulting in a decrease in product sales volume and average selling price, leading to a decrease in gross profit; (ii) expenses incurred for the listing on the Main Board of The Stock Exchange of Hong Kong Limited during the year ending December 31, 2025.