SUN.KING TECH (00580) Issues Profit Alert, Forecasts Approx. 30.0% YoY Net Profit Increase for 2025

Stock News
Jan 14

SUN.KING TECH (00580) announced that the Group expects revenue for the reporting year ending December 31, 2025, to be approximately RMB 2.25 billion, representing an increase of about 40.0% compared to the year ended December 31, 2024. This growth is primarily attributable to increased revenue from the flexible power transmission business segment, benefiting from the sequential delivery and revenue recognition of products related to specific project orders, namely the Saudi Arabia Central-South ±500kV VSC-HVDC converter station project, the Gansu-Zhejiang ±800kV UHVDC power transmission project, and the Peru/Chile Distributed Power Flow Controller project. Furthermore, revenue from self-produced Insulated Gate Bipolar Transistors (IGBTs) has increased, driven by the Group's intensified market expansion efforts leading to a gradual enlargement of its market share. The Group also anticipates that profit attributable to owners of the parent for the reporting year will increase by approximately 30.0% compared to the year ended December 31, 2024. This expected profit growth is mainly due to an increase in gross profit resulting from higher revenue, coupled with an increase in other income and gains, which primarily include foreign exchange gains and gains from foreign exchange forward contracts entered into to mitigate currency risk associated with foreign currency procurement.

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