Beijing SinoHytec Co., Ltd. Releases Preliminary Financial Data for 2025

Beijing SinoHytec Co., Ltd. (Stock Code: 2402) has published its preliminary financial data for the year 2025, providing an early look at its financial performance and operating conditions. The report, prepared under PRC Accounting Standards for Business Enterprises, has not yet been audited and should be interpreted with caution by investors.

Key Financial Highlights

• Total Operating Revenue: RMB 262.13 million, a significant year-on-year decline of 28.51% from RMB 366.67 million.
• Operating Loss: RMB 653.97 million, widening from RMB 532.57 million last year.
• Total Loss: RMB 668.03 million, compared to RMB 531.57 million last year.
• Net Loss Attributable to Owners: RMB 628.29 million, up from RMB 456.43 million.
• Net Loss After Deducting Non-Recurring Gain or Loss: RMB 685.88 million, up from RMB 542.76 million.
• Basic Loss Per Share: RMB 2.71, increased from RMB 1.97.
• Weighted Average Return on Net Assets: -27.91%, a deterioration from -16.19%.

Balance Sheet Overview

• Total Assets: RMB 3,741.43 million, a decrease of 21.71% compared to the start of the period.
• Equity Attributable to Owners: RMB 2,012.09 million, down 21.43%.
• Share Capital: RMB 240.53 million, up 3.83%.
• Net Assets Per Share: RMB 8.37, down 24.32%.

Operational and Industry Analysis

The hydrogen fuel cell industry, in which SinoHytec operates, remains in the early stages of commercialization. The company faced intensified market competition, leading to sustained downward pressure on product pricing. Constrained by working capital pressures, SinoHytec adopted a cautious market expansion strategy, resulting in a year-on-year decline in fuel cell system sales and negatively impacting overall profitability.

Key Factors Affecting Performance

• The company’s net loss and loss per share increased substantially, mainly due to:
  • A cautious market strategy stemming from working capital pressures, leading to lower sales.
  • An application of accounting conservatism, with higher credit impairment and asset impairment losses recognized during the period.
  • Increased share of losses from associates and joint ventures, reflecting challenging market conditions and weaker operational performance of investee companies.

Price Sensitive Information and Shareholder Considerations

This report contains several price-sensitive elements that may affect share value:

• Substantial year-on-year declines in revenue and net assets.
• Widening net losses and basic loss per share.
• Deterioration in return on net assets and shrinking balance sheet.
• Ongoing market challenges and increased credit/asset impairment losses.
• Potential impact from associates and joint ventures, which contributed to increased losses.

Investors should note that these preliminary results indicate worsening financial performance, increased risks, and continued difficulties in achieving commercialization in the hydrogen fuel cell sector. These factors are likely to influence the share price negatively and may increase volatility.

Risk Warning

The financial data presented is preliminary and has not been audited. Final figures will be disclosed in the official 2025 annual report. Investors are strongly advised to consider investment risks and exercise caution when dealing in the securities of Beijing SinoHytec Co., Ltd.

Board Statement

The announcement was authorized by Chairman Zhang Guoqiang on February 27, 2026. The board comprises executive, non-executive, independent non-executive, and employee representative directors.

Disclaimer: The above article is based on preliminary, unaudited financial data. The information is subject to change upon the release of the audited annual report. Investors should not rely solely on this article for investment decisions and are encouraged to consult with financial advisors and review subsequent disclosures from the company.

View SINOHYTEC Historical chart here