Wangbian Electric's non-recurring net profit is expected to increase by nearly 80% in 2025, with three major business segments working together to drive growth.

Source: Shanghai Securities News · China Securities Network

Shanghai Securities News and China Securities Network reported: WANGBIAN Electric announced its 2025 annual report on the evening of April 3. Driven by growth in revenue from power transformers business, the company’s core business profitability has been significantly enhanced. The three major business segments—power transmission and distribution and control equipment, oriented silicon steel, and electric vehicle charging—have worked in close synergy to provide a solid business guarantee for subsequent strategic investment and sustainable development. In 2025, the company achieved operating revenue of RMB 3.917 billion, up 16.87% year over year; attributable net profit of RMB 69.2432 million, up 6.26% year over year; net profit after deducting non-recurring items of RMB 64.7947 million, up 79.38% year over year; and earnings per share of RMB 0.21. The company’s 2025 profit distribution proposal is to distribute a cash dividend of RMB 0.5 per 10 shares (tax included).

In 2025, the company continued to drive business structure optimization and upgrading around three paths: “high-end development + large-scale operations + new business incubation.” In the power transmission and distribution and control equipment business, operating revenue reached RMB 2.511 billion, up 29.90% year over year. Among them, revenue from transformer products of 110kV and above increased 74.39% year over year, raising its share from 44.05% to 60.01%. High-voltage products have become the core engine driving growth. The total production capacity of oriented silicon steel reached 180,000 tons, with a capacity utilization rate of 103.71% and a capacity-to-sales ratio of 95.77%, basically achieving full production and full sales. The company also successfully overcame the key technologies for 075-grade high-magnetic oriented silicon steel, laying a foundation for mass production of future high-end products.

During the reporting period, the company actively laid out its presence in the new energy sector, precisely targeting the niche market for ultra-fast charging of electric heavy trucks, and became a core partner in Huawei’s heavy-truck megawatt ultra-fast charging ecosystem. Relying on Huawei’s all-liquid-cooled ultra-fast charging solution, the company invested in and built a megawatt-class intelligent ultra-fast charging network construction project; as of now, the WANGBIAN No. 1 ultra-fast charging station has been completed and put into operation. The company plans a total investment of no more than RMB 541.5 million to build a megawatt-class intelligent ultra-fast charging network, with nearly 100 electric heavy-truck ultra-fast charging stations deployed in places including Yunnan and Chongqing. The company focuses on high-frequency usage scenarios such as logistics hubs, ports, mining areas, and steel mills, and cultivates new business growth drivers.

The company has continued to advance its global expansion, achieving new breakthroughs in overseas business. Overseas orders for power transmission and distribution equipment reached RMB 110 million, up 28.71% year over year, and the company successfully entered Europe’s high-end market. Oriented silicon steel is shipped to more than ten countries and continues to track and advance 23 key overseas projects. It successfully obtained approval for the “National Enterprise Technology Center” and a “National Postdoctoral Research Station,” further strengthening its R&D system. Full-year R&D spending was RMB 306 million, accounting for 7.82% of revenue, and its innovation capability has continued to improve.

Yang Zemin, Chairman of WANGBIAN Electric, said that in the next five years, the company will focus on three core strategies: “breaking through high-end materials, upgrading equipment capabilities, and expanding global markets,” and will continue to move toward a transition into an “integrated service provider for the entire energy and power industry chain.” In 2026, the company will closely follow the annual main line of “strategic implementation, efficiency improvement, and business expansion.” Oriented silicon steel will ensure full production and full sales, and increase the proportion of high-grade products. In the power transmission and distribution business, the company will consolidate its market advantages in the 110kV-and-above segment and expand opportunities in the ultra-high-voltage field. For new-energy ultra-fast charging, it will accelerate network deployment to form initial large-scale operations. Overseas business will deeply participate in the Belt and Road Initiative, focusing on key regions including Southeast Asia, the Middle East, and Europe and the United States. (Wang Yi)

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