2025 VEICHI Annual Report

BUSINESS OVERVIEW

• Operating revenue: USD285 million, 18.66% YoY growth
• Net profit attributable to parent company: USD38 million, 7.24% YoY growth
• FY2025 total assets: USD556 million, 23.44% YoY growth
• Net profit to shareholders: USD344 million, 12.28% YoY growth

CORE BUSINESS REVENUE

Product Lines

• Drive: USD182 million, 65.38% of core revenue, 20.41% YoY growth
• Servo and control system: USD84 million, 30.24% of core revenue, 16.39% YoY growth
• Digital energy: USD10 million, 3.89% of core revenue, 22.37% YoY growth

Geographic Reach

• Domestic: USD199 million, 71.47% of core revenue, 18.67% YoY growth
• Overseas: USD79 million, 28.53% of core revenue, 19.36% YoY growth

R&D AND INNOVATION

R&D investment: USD35 million, 11.94% YoY growth

• 12.50% of operating revenue

R&D Team: 676

• 35.08% of VEICHI's total workforce

Achievements

• Authorized patents: 239
• Invention patents: 70
• Authorized software copyrights: 161
• Utility model patent: 125

PROPOSED DIVIDEND

VEICHI adopts a dual dividend distribution approach, combining annual and interim dividends, to ensure the timely sharing of operating results and effectively enhance investor returns and value realization.

Total cash dividends for FY2025: USD15.6 million

• Interim dividend for FY2025: USD4.7 million
• Proposed final dividend for FY2025: USD10.9 million

Cumulative dividends distributed from 2020 to 2025 amounted to USD40.5 million (excluding the proposed dividend for 2025)

STRATEGIC DEVELOPMENT

Launch of the “One Core, Two New Drivers” Strategy

In response to increasingly diversified industry demands, the Company launched its “One Core, Two New Drivers” strategy, focusing on industrial automation as its core business and expanding into embodied intelligence and green energy as key growth areas. This framework drives the coordinated development of core operations and new businesses, providing a clear roadmap for future growth.

Commencement of Operations at the Suzhou Digital Factory

The Company’s Suzhou digital factory has commenced operations, advancing digital transformation across manufacturing, R&D, and commercialization, and supporting capacity expansion and operational efficiency.

Completion of R&D Center Relocations in Shenzhen and Xi’an

The Company has completed the relocation of its R&D centers in Shenzhen and Xi’an. Upgraded facilities and an optimized R&D system enhance innovation efficiency, accelerate technology development, and strengthen product and solution delivery.

PRODUCT PORTFOLIO EXPANSION

Industrial Automation

VEICHI continued to strengthen its industrial control portfolio, launching the AC600 series drives, SD900 integrated Servo Systems, VH200 PLCs, and VG700 book-style intelligent controllers. These products support the digital and intelligent transformation of industrial applications.

Embodied Intelligence

Targeting humanoid, collaborative, and mobile robotics, VEICHI introduced key components including frameless motors, coreless motors, in-wheel motors, high-density drives, compact harmonic drive modules, planetary and cycloidal joint modules, axial flux joint modules, and dexterous robotic hands, supporting ongoing industrial and technological advancement.

Green Energy

Focusing on photovoltaic, energy storage, and hydrogen energy, VEICHI developed integrated solutions to build a smart energy ecosystem. New products include the VPS series microgrid hybrid inverters and VHP800 series hydrogen power supply systems. VEICHI is committed to enabling every device to be powered by green energy.

PRODUCT PORTFOLIO EXPANSION

• CNAS Accreditation Certificate for Veichi Electric Laboratory Center
• Postdoctoral Research Workstation
• 2025 Advanced-Level Intelligent Factory
• Jiangsu Province Industrial Information Security Protection Star-Rated Enterprise (3-Star Level)
• Jiangsu Province Private Technology Enterprise
• Suzhou First Batch Leading Enterprises in Embodied Intelligent Robotics
• Top 100 Suzhou Private Enterprises by R&D Investment (2025)
• Top 50 Brands in the 2025 China Automation and Digitalization New Quality Awards
• CMCD 2025 Annual Industry Application Award in Motion Control
• Benchmark Award for Quality in the Mobile Robot Supply Chain