ZCZL Industrial Technology Group Company Limited released its audited results for the year ended 31 December 2025, delivering its highest‐ever top- and bottom-line figures since listing.
Revenue and Earnings • Revenue advanced 11.59 % year on year to RMB41.35 billion, driven by double-digit growth in both coal-mining machinery (+1.65 billion) and auto-parts (+2.40 billion) operations, while industrial-intelligence products added RMB2.19 billion. • Profit attributable to shareholders increased 9.20 % to RMB4.31 billion. • Earnings per share reached RMB2.45, up from RMB2.22 in 2024. • Profit before tax slipped 1.72 % to RMB5.12 billion as lower other income and higher impairment charges offset operating gains; the effective tax rate fell to 14.67 % (2024: 18.82 %).
Margins and Costs • Gross profit rose 2.58 % to RMB9.08 billion; group gross margin narrowed to 21.97 % (2024: 23.80 %) on faster growth in cost of sales (+14.41 %). • Selling and distribution expenses were trimmed 15.70 % to RMB901.54 million following sales-force restructuring. • R&D spending expanded 9.32 % to RMB1.66 billion, underscoring continued investment in product innovation. • Finance costs declined 24.34 % to RMB225.43 million on lower borrowing expenses.
Segment Performance (Net Profit) • Coal-mining machinery: RMB3.11 billion on revenue of RMB19.18 billion. • Auto parts: RMB0.39 billion on revenue of RMB19.99 billion. • Industrial-intelligence products: RMB0.94 billion on revenue of RMB2.19 billion.
Geographical Mix Mainland China contributed 65.4 % of revenue (RMB27.02 billion). Germany and other overseas markets generated 14.4 % and 20.2 % respectively, underscoring progress in international diversification.
Balance-Sheet Highlights • Cash and cash equivalents rose to RMB3.43 billion (2024: RMB2.99 billion). • Net current assets expanded to RMB14.88 billion, lifting the current ratio to 1.66 (2024: 1.63). • Property, plant and equipment increased by RMB1.07 billion to RMB8.46 billion, reflecting ongoing capacity and automation upgrades.
Dividend and Capital Management • The Board proposes a final cash dividend of RMB1.25 per share (RMB12.50 per 10 shares), totalling approximately RMB2.23 billion and representing an 11.6 % increase over the prior year. • During March 2025, ZCZL repurchased 39.12 million A-shares for RMB599.92 million and allocated them to a 72-month employee stock-ownership scheme covering 307 participants.
Strategic Milestones • The group rebranded from Zhengzhou Coal Mining Machinery Group to ZCZL Industrial Technology Group, realigned its governance model and carved out coal-mining machinery assets into a wholly owned subsidiary. • Digital transformation progressed with the rollout of group-wide IT governance, smart-factory initiatives and AI-driven applications. • The board has proposed a public offering of up to RMB4.35 billion in A-share convertible bonds, pending regulatory approval, to fund future growth.
Outlook Entering the first year of China’s 15th Five-Year Plan, ZCZL plans to deepen digitalization, expand its industrial-intelligence franchise toward a RMB10 billion revenue target, accelerate new-energy auto-parts penetration and pursue strategic investments to underpin long-term, high-quality growth.