2025 VEICHI Semi-Annual Report

Business Overview

• Operating revenue: CNY897.38 million, 16.39% YoY growth
• Net profit attributable to parent company: CNY140.91 million, 4.87% YoY growth
• Basic earnings per share: CNY0.67 per share, 4.69% YoY growth

Revenue and profit both grew, with continued optimization of profitability

CORE REVENUE

Product lines

• Drive: CNY558.96 million, 63.53% of core revenue
• Servo and control system: CNY290.12 million, 32.98% of core revenue
• Digital energy: CNY20.86 million, 2.37% of core revenue

Overseas Revenue

• Overseas revenue: CNY241.80 million, 22.34% YoY growth

Overseas market expansion has achieved notable results; international layout is making steady progress.

R&D Investment

• R&D investment: CNY100.36 million, 11.86% YoY growth

Number of R&D personnel: 632, representing 34.29% of total workforce, an increase of 12.66% YoY.

Authorized Patents

• Total authorized patents: 211
• New patents in 2025 H1: 15

As of June 30, 2025, VEICHI held 211 authorized patents, including 15 newly authorized patents in 2025.

Dividend Proposal

• Total cash dividends distributed from 2020 to 2024: CNY244270.7 thousand
• Proposed cash dividend for 2025 H1: CNY31941.8 thousand

Equity Incentive Plan

2025 Stock Option Incentive Plan

• Total proposed grant: 3,305,000 options, representing 1.55% of total share capital
• Initial grant: 2,645,000 options
• Reserved grant: 660,000 options
• Initial grant recipients: 156 persons
• Exercise price: CNY59.18 per option

Project Progress

Suzhou Digital Production Base Nearing Commissioning

With a total building area of approximately 116,000 m², the project is expected to achieve an annual capacity of millions of AC drives, servo drives, and control system products. The site will integrate IoT, cloud computing, and digital twin technologies to create a visualized factory and comprehensively enhance production efficiency, delivery capability, and product quality.

Changzhou High-End Electrical Equipment Production Base Successfully Topped Out

Total building area: approximately 36,000 m². As an intelligent manufacturing base, it will produce high-voltage AC drives, multi-motor AC drives, port automation, and marine & offshore solutions.

Corporate Layout

No.1 Robotics

VEICHI has deeply deployed across the embodied intelligent robot supply chain, focusing on independent R&D of key components. It has built a comprehensive robot product matrix and is committed to providing end-actuation core components and one-stop solutions for humanoid, collaborative, mobile, and service robots.
Robotic modules: Developed RB100 series integrated servo wheel, RB200 series harmonic/planetary/linear joint modules, RB300 series integrated servo drive & motor, and are advancing R&D and commercialization of dexterous-hand technologies to provide high-precision power and motion control for robot systems.
Robot drive motors: Developed FT1 frameless torque motors, ECH series DC brushless coreless motors, SD100 low-voltage servo for robots, and SD200 coreless motor drives, meeting diverse robotic power requirements across applications.

No.2 Green Energy

VEICHI focuses on digitalization, intelligence, and energy-saving needs across the green-energy value chain, expanding its product matrix and technology layout in photovoltaic, energy storage, and hydrogen applications.
PV and energy storage: Launched VHS/VHT series hybrid inverters, SI series off-grid inverters, and VPS series commercial & industrial storage inverters, covering residential and C&I storage scenarios.
Battery technology and equipment: Established a product portfolio for energy storage batteries, battery packs, and lithium battery testing equipment to enhance system safety and reliability.
Green hydrogen: Independently developed an IGBT hydrogen production power, offering technical advantages in improving electrolysis efficiency and green-power utilization to support hydrogen development.
Green upgrades for traditional industries: Provide high-efficiency, energy-saving drive products for shipping, ports, and waste-heat/pressure power generation, promoting green transformation and sustainability in high-energy-consuming sectors.