Zhejiang Supor: Q3 2025 saw lower profit and margins despite modest revenue growth for the year-to-date

Operating income grew 4.68% year-over-year to RMB 11.48 billion, with net profit nearly flat at RMB 939.91 million. Domestic and export sales both increased, driven by product innovation and channel optimization, while the company maintained market leadership in core categories.

Original document: Zhejiang Supor Co., Ltd. Class A [002032] Interim report — Aug. 29 2025

Zhejiang Supor's attributable profit slipped 0.07% to 939.9 million yuan in the first half from 940.6 million yuan in the year-ago period, according to a Thursday filing with the Shenzhen bourse.

Earnings per share at the Chinese cookware and small appliances company were nearly flat at 1.18 yuan in the first half compared with 1.181 yuan in the year-ago period.

Total operating income grew 4.7% to 11.5 billion yuan from about 11 billion yuan in the prior-year period.

Zhejiang Supor's attributable profit slipped 0.07% to 939.9 million yuan in the first half from 940.6 million yuan in the year-ago period, according to a Thursday filing with the Shenzhen bourse.

Earnings per share at the Chinese cookware and small appliances company were nearly flat at 1.18 yuan in the first half compared with 1.181 yuan in the year-ago period.

Total operating income grew 4.7% to 11.5 billion yuan from about 11 billion yuan in the prior-year period.

Q1 2025 revenue grew 7.6% and net profit rose 5.8% year-over-year, with improved investment income but a sharp decline in operating cash flow. Financial expenses increased due to FX and lower interest income.

Original document: Zhejiang Supor Co., Ltd. Class A [002032] Interim report — Apr. 25 2025

Trump's latest tariffs should have limited impact on major Chinese home appliance names, Morningstar analyst Jeff Zhang says.China's appliance makers, such as Midea Group, Gree Electric Appliances and Zhejiang Supor's earnings exposure to the U.S. market should remain below 5%, he says. Haier Smart Home is most vulnerable to tariff hikes as 20%-25% of its profit comes from the U.S. and the analyst expects it to increase production capacities in the U.S. or Mexico. With reciprocal tariffs also applied to Asean countries like Vietnam, Morningstar thinks manufacturers will need to either ramp up capacities in North America or reduce exposure to the U.S. market. As most Chinese appliance makers see faster sales growth in emerging markets, the second option should be easier to adopt, he adds. (sherry.qin@wsj.com)

SUPOR achieved 5.27% revenue growth and 2.97% net profit growth in 2024, driven by strong export performance and continued innovation, while maintaining a 100% dividend payout ratio and industry-leading market share in cookware and small appliances.

Original document: Zhejiang Supor Co., Ltd. Class A [002032] Interim report — Mar. 28 2025