EVE(SZ:300014) Zheng Quan Shi Bao Wang·2025-08-22 03:57Core Viewpoint - The company reported a significant increase in revenue but a decline in net profit for the first half of 2025, highlighting the impact of specific costs on profitability [1][2] Financial Performance - The company achieved operating revenue of approximately 28.2 billion yuan, a year-on-year increase of 30.06% [1] - The net profit attributable to shareholders was 1.605 billion yuan, a decrease of 24.9% year-on-year [1] - The non-recurring net profit was 1.157 billion yuan, down 22.82% year-on-year [1] - After excluding stock incentive expenses and specific bad debt provisions, the adjusted net profit was 2.218 billion yuan, up 3.78% year-on-year, and the adjusted non-recurring net profit was 1.770 billion yuan, up 18.06% year-on-year [1] Dividend Distribution - The company plans to distribute a cash dividend of 2.45 yuan per 10 shares (including tax), totaling approximately 500 million yuan [1] Sales and Production - The company reported a significant increase in battery shipments, with power battery shipments reaching 21.48 GWh, a year-on-year increase of 58.58%, and energy storage battery shipments at 28.71 GWh, up 37.02% year-on-year [1] - The gross margin for the power battery segment improved significantly, reaching 17.60%, an increase of 6.92 percentage points year-on-year [1] Operational Insights - The improvement in profitability was attributed to increased delivery volumes from international automakers and the completion of production line upgrades, which had been under renovation from last year's third quarter until April [2] - The company expressed confidence in achieving its annual targets, with stable deliveries expected in the second half of the year [2] - The production capacity utilization rate is generally effective, with only a portion of the ternary soft-pack production line remaining idle [2]