Weihai Guangwei Composites Co: Net profit dropped 32.55% despite 4.40% revenue growth, with energy new materials leading gains

Revenue grew 3.87% year-over-year to ¥1.20 billion, but net profit dropped 26.85% due to price declines in carbon fiber. Wind power materials surged 47.95%, offsetting weakness in other segments. R&D investment rose 37.11% to support innovation.

Original document: Weihai Guangwei Composites Co., Ltd. Class A [300699] Interim report — Aug. 19 2025

Weihai Guangwei Composites subsidiary Weihai Expansion Fiber signed a supplementary 658-million-yuan carbon fiber supply contract with an undisclosed customer.

The agreement covers deliveries from 2025 to 2027 and involves Model C carbon fiber, according to a Monday filing with the Shenzhen bourse.

The raw silk and carbon fiber manufacturer's shares rose less than 1% Monday.

Revenue grew 10.5% year-over-year, with strong fiber and new energy materials sales, but net profit dipped 1.58% as investment and impairment costs rose. Operating cash flow turned positive, and segment performance was mixed.

Original document: Weihai Guangwei Composites Co., Ltd. Class A [300699] Interim report — Apr. 25 2025

Weihai Guangwei Composites' net profit attributable to shareholders in 2024 fell 15% to 741.2 million yuan or 0.8975 yuan per share, according to a Shenzhen Stock Exchange disclosure on Tuesday.

The attributable profit a year ago was 873.2 million yuan or 1.0513 yuan per share.

The Chinese raw silk and carbon fiber manufacturer's operating income slipped 2.7% to 2.45 billion yuan from 2.52 billion yuan in the previous year, the disclosure said.

2024 revenue declined 2.69% to ¥2.45 billion, with net profit down 15.12% amid industry overcapacity and price pressure. Cash flow improved, and the company maintained strong market share in carbon fiber, with a focus on high-end and new energy applications for future growth.

Original document: Weihai Guangwei Composites Co., Ltd. Class A [300699] Annual Financial Statement — Mar. 31 2025

Industry authorities approved the homologation verification of the carbon fiber production line of Weihai Guangwei Composites' subsidiary, Weihai Tuozhan Fiber, according to a Shenzhen Stock Exchange filing on Thursday.

The homologation verification is part of the company's expansion of its existing engineering development production line, where Tuozhan Fiber added a 1,000-ton-grade industrialized carbon fiber production line, the Chinese raw silk and carbon fiber manufacturer said.