Nanjing Panda 2025 Annual Report: Net profit attributable to parent company of 10.73 million yuan, revenue down 6%

On March 27, Nanjing Panda (Rights Protection) (600775) released its 2025 annual report. The company’s operating revenue was 2.49 billion yuan, down 6.0% year over year. Net profit attributable to shareholders swung from a loss of 189 million yuan in the same period last year to a profit of 10.73 million yuan, successfully turning losses into gains. Non-recurring items net profit attributable to shareholders turned from a loss of 202 million yuan in the same period last year to a loss of 258 million yuan, with the loss amount further expanding. Net cash flow from operating activities was 2.65 million yuan, up 101.0% year over year. EPS (fully diluted, based on total shares) was 0.0117 yuan.

Among them, in the fourth quarter, the company’s operating revenue was 928 million yuan, up 13.5% year over year. Net profit attributable to shareholders swung from a loss of 89.93 million yuan in the same period last year to a profit of 100 million yuan. Non-recurring items net profit attributable to shareholders swung from a loss of 90.41 million yuan in the same period last year to a loss of 161 million yuan, with the loss amount further expanding. EPS was 0.1099 yuan.

As of the end of the fourth quarter, the company’s total assets were 5.468 billion yuan, up 2.8% from the end of the prior year. Shareholders’ equity attributable to the company’s shareholders was 3.124 billion yuan, up 0.3% from the end of the prior year.

In its 2025 annual report, the company mentioned that some major changes occurred in its operating businesses. First, in the smart transportation and safe city sector, the company successfully won bids for multiple projects, especially the intercity rail ticketing system in the Shenzhen metropolitan area and related rail transit projects in Egypt.

In addition, the report pointed out that the company’s electronic manufacturing services business performed well, with sales of automotive electronics and related businesses reaching 370 million yuan, up 32% year over year. At the same time, the company maintained a certain level of intensity in R&D investment; it applied for 94 patents throughout the year, demonstrating strong technological innovation capabilities. Overall, the company’s expansion and innovation across multiple business areas indicate effective implementation of its operating strategy.

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