2 September 2025 | 4:21PM HKT 2Q25 missed on impairment loss. Gotion released its 2Q25 results after market on 29th Aug. 1) net profit of Rmb266mn, +32% yoy, or +164% qoq, below GSe by 31% (or ~Rmb120mn); 2) gross profit of Rmb1.5bn, -7% yoy, or -8% qoq, below GSe by 3%; 3) revenue of Rmb10.3bn, +11% yoy, or +14% qoq, above GSe by 17%; 4) sales volume of ~22GWh, +47% yoy, or +22% qoq, beat GSe by 25%. We attribute Gotion's 2Q25 earnings miss to unexpected asset impairment of Rmb154mn which is associated wit ...

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