汇川技术-4Q25 业绩预告- 营收不及预期，核心盈利符合预期

February 10, 2026 03:16 PM GMT Shenzhen Inovance Technology | Asia Pacific 4Q25 Prelims – Revenue Miss; Core Earnings In Line Reaction to earnings Unchanged Modest shortfall Modest revision lower Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways 4Q revenue was -3% to +29% y-y; midpoint of Rmb13.2bn (+13% y-y) was 7% below our estimate/consensus, slower than 3Q's +21% y-y. Based on MIR data, Inovance's ...