On March 28, Hengdian Dongci released its annual report for 2025.
The report shows that last year, Hengdian Dongci achieved a revenue of 22.586 billion yuan, an increase of 21.70% over the previous year, a net profit of 1.851 billion yuan, an increase of 1.34% over the previous year, and a net profit of 1.761 billion yuan, an increase of 5.34% over the previous year.
For the growth of performance, Hengdian Dongci said: "During the reporting period, the company continued to deepen the" magnetic + new energy "two-wheel drive strategy, give full play to its marketing network and brand advantages, and accelerate the international layout;"; The layout of advanced production capacity according to local conditions, combined with technological leadership, cost control advantages and forward-looking supply chain management, has enabled the company to achieve better profitability under the counter-cyclical main business.
Among them, photovoltaic strengthens the differentiation strategy and timely launches a series of new products such as ultra-high power, which further improves the product strength. On the basis of maintaining profitability, it has achieved a relatively high-speed growth in shipments; Lithium power industry deeply cultivates the application market of small power in many fields, continuously improves lean management ability and quality stability, and maintains a good market expansion trend.
Among them, in the fourth quarter, Hengdian Dongci achieved a revenue of 5.025 billion yuan, a decrease of 10.69% compared with the previous quarter; a net profit of 399 million yuan, a decrease of 7.80% compared with the previous quarter; a non-net profit of 295 million yuan, a decrease of 25.31% compared with the previous quarter.
From the perspective of industry dimension, the revenue of photovoltaic products of Hengdian Dongci in 2025 was 14.310 billion yuan , an increase of 29.27% over the previous year. The proportion of total revenue rose to 63.36% . In 2024, the revenue of Hengdian East Magnetic Photovoltaic Products accounted for 59.65%.
Lithium battery business revenue was 2.722 billion yuan, an increase of 12.69% over the previous year, accounting for 12.05% of the total revenue. In terms of
gross profit margin, the gross profit margin of photovoltaic products of Hengdian Dongci reached 15.25% last year, representing a year-on-year decrease of 3.49%; the gross profit margin of lithium batteries was 15.38%, representing a year-on-year increase of 2.72%.
In 2025, the shipment of photovoltaic products of Hengdian Dongci will be 24.9 GW , with a year-on-year increase of 45%; the shipment of lithium battery products will be 622 million, with a year-on-year increase of 17.1%.
As of December 31, 2025, Hengdian East Magnetic Photovoltaic has a total capacity of 23 GW batteries and 21 GW modules per year. Lithium batteries have an annual production capacity of 8 GWh.
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