Qingling Motors reported FY-2025 revenue of RMB4.37 billion, up 5.89% year-on-year, driven by a 0.14% increase in vehicle sales to 33,226 units. Gross profit improved 45.01% to RMB392.78 million, lifting gross margin to 8.99% from 6.57% in 2024.

Net loss after tax narrowed to RMB19.18 million, compared with a RMB47.77 million loss a year earlier. Loss attributable to shareholders fell to RMB26.32 million, translating into basic loss per share of RMB0.01 (2024: RMB0.02).

Segment performance showed light-duty trucks and chassis contributing RMB2.14 billion in revenue (49.1% of total) and medium- & heavy-duty trucks RMB1.29 billion (29.6%). Pick-up trucks and automobile parts generated RMB405.30 million and RMB526.37 million, respectively. Segment profit turned positive for medium- & heavy-duty trucks (RMB72.93 million) and parts (RMB80.21 million), while light-duty and pick-up operations posted combined losses of RMB98.83 million.

New-energy vehicle (NEV) sales almost doubled to 10,001 units (+94% yoy), and export volume rose 26% to 6,412 units. Other income declined 12.32% to RMB269.98 million, while R&D expenditure increased 15.6% to RMB214.83 million, reflecting continued investment in intelligent connected and NEV technologies.

The balance sheet remained strong: cash, cash equivalents and time deposits maturing within one year totaled RMB4.37 billion, up 47.86% from end-2024. Net current assets climbed 60.86% to RMB4.76 billion, and the gearing ratio stood at 40.62% (2024: 35.42%). No bank borrowings were outstanding.

The board proposed no final dividend for 2025. Looking ahead to 2026, management targets production and sales of 60,000 units, with priorities on scaling NEV offerings, expanding overseas KD facilities, enhancing cost controls, and deepening partnerships—including new initiatives with Isuzu in intelligent connected NEVs.