On March 28, Hengdian Dongzi released its 2025 annual report.
The report shows that last year Hengdian Dongci achieved revenue of 22.586 billion yuan, an increase of 21.70 percent over the same period last year; net profit was 1.851 billion yuan, an increase of 1.34 percent over the same period last year; and net profit after deduction was 1.761 billion yuan, an increase of 5.34 percent over the same period last year.
Regarding the growth of performance, Hengdian Dongci said: “During the reporting period, the company continued to deepen the two-wheel drive strategy of” magnetic materials + new energy “and gave full play to its own marketing network and brand advantages, accelerate the international layout; deploy advanced production capacity according to local conditions, and combine the advantages of leading technology and cost control and forward-looking supply chain management, so that the company can still achieve better profits under the reverse cycle of the main business.”
Among them, photovoltaics have strengthened their differentiation strategy and launched a series of new products such as ultra-high power in a timely manner, which has further improved product strength and achieved relatively high-speed shipment growth on the basis of maintaining profitability; the lithium battery industry has deeply cultivated the small power multi-field application market, continuously improved lean management capabilities and quality stability, and maintained a good market expansion trend.
Among them, Hengdian Dongci realized revenue of 5.025 billion yuan in the fourth quarter, down 10.69 percent from the previous month. Net profit was 0.399 billion yuan, down 7.80 percent from the previous month. Non-net profit was 0.295 billion yuan, down 25.31 percent from the previous month.
from the perspective of industry, Hengdian dongci’s revenue of photovoltaic products in 2025 will be 14.31 billion yuan, up 29.27 year on year, accounting for 63.36 percent of the total revenue. In 2024, Hengdian East Magnetic PV products accounted for 59.65 percent of revenue.
The operating income of lithium battery business was 2.722 billion yuan, up 12.69 year on year, accounting for 12.05 of the total revenue.
In terms of gross profit margin, Hengdian Dongci’s gross profit margin for photovoltaic products reached 15.25 last year, down 3.49 from the same period last year. The gross profit margin of lithium batteries was 15.38, up 2.72 from the same period last year.
in 2025, the shipment of dongmagnetic photovoltaic products in hengdian will be 24.9GW, up 45% year on year. 0.622 billion lithium battery products were shipped, up 17.1 year on year.
As of December 31, 2025, Hengdian Dongci Photovoltaic has an annual production capacity of 23GW batteries and 21 GW modules, and lithium batteries have an annual production capacity of 8 GWh.
