Yadea Holdings Reports 27.2% Drop in Net Profit for First Half of Fiscal Year 2026
Yadea Holdings announced its financial results for the first half of fiscal year 2026, reporting a net profit of 1.201 billion yuan, a decrease of 27.2% compared to the same period last year.
Electric vehicle manufacturer Yadea Holdings released its financial report for the first half of fiscal year 2026, covering the period from January to June. The company posted a net profit attributable to parent company shareholders of 1.201 billion yuan, marking a 27.2% decline year-over-year.
Total revenue for the period decreased by 5% to 18.24 billion yuan. This decline was primarily attributed to reduced sales of electric bicycles and batteries. While sales of electric bicycles dropped significantly, electric scooters saw a notable increase in demand, indicating a shift in consumer preference.
Gross profit fell by 14% to 3.24 billion yuan, with the gross profit margin decreasing to 17.7%. The company cited changes in product mix and lower margins in the battery segment as contributing factors to this decrease.
Despite the domestic slowdown, Yadea Holdings experienced strong growth in its overseas business, particularly in markets like Southeast Asia. The company has been strengthening its localized production capabilities, including a new manufacturing base in Vietnam, to support this international expansion. The company's financial health improved, with its asset-liability ratio falling to 10.4%.