WOER's stock price plummeted 9.52% during the intraday session on Friday, following the release of its first-quarter financial results for 2026.

The company reported a year-on-year revenue increase of 15.52% to approximately RMB 2.032 billion. However, net profit attributable to shareholders fell by 7.63% to about RMB 231 million. The decline in profitability is attributed to a weaker product mix, with reduced contributions from high-margin segments such as high-voltage power products and the wind power business. Furthermore, rising raw material costs could not be fully passed on to product prices during the period, compressing the overall gross margin.

Increased operating expenditures for business expansion, including higher selling, administrative, and research and development expenses, also pressured profits. Additionally, the company incurred significant exchange losses due to the continued depreciation of foreign currencies like the US dollar and the Hong Kong dollar, leading to a surge in financial expenses.