Aerospace Rainbow: Revenue Growth in 2025 but No Profit Increase, New Material Business Drags Down Full-Year Performance

Sourced from: China Securities Journal · CS.com

CS.com News (Reporter: Jing Luo) Aerospace Rainbow disclosed its 2025 annual report. During the reporting period, the company achieved operating revenue of 2.930 billion yuan, a year-on-year increase of 14.16%; net profit attributable to shareholders of listed companies was 26.9344 million yuan, down 69.45% year on year; net profit after deducting non-recurring items was a loss of 64.7839 million yuan; it plans to distribute cash dividends of 0.60 yuan per 10 shares to all shareholders (including tax).

Judging by its revenue structure, the company’s two major businesses show a clear divergence. As its core business, the unmanned aerial vehicle (UAV) segment performed strongly: revenue in the aerospace and aviation products manufacturing segment reached 2.165 billion yuan, up 27.12% year on year. Of this, revenue from UAVs and related products grew by 21.37%, and technology services revenue increased by 73.29% year on year. The new materials segment continued to face pressure. Revenue from plastic film manufacturing fell by 11.83% year on year, and its gross margin was only 1.55%. Functional polyester film products recorded negative gross profit. At present, the UAV business’s share of total revenue has risen to 73.87%, becoming the absolute driver of growth; the new materials business’s share dropped to 24.89%.

The company said the sharp decline in earnings was mainly attributable to two factors: first, the company’s new materials business is affected by the industry’s supply-demand landscape, with significant pressure on end-market demand and product prices, which has kept the new materials business under ongoing operating strain; second, this was compounded by the impact of goodwill impairment, which has had an adverse effect on the company’s overall profit level. In addition, due to the depreciation of the U.S. dollar, foreign exchange gains and losses also exerted a significantly negative impact on the company’s profitability.

It is worth noting that during the reporting period, the company achieved asset disposal gains of 92.0065 million yuan by disposing of assets of the Taizhou Nanyang Technology New Materials Industrial Park, which became an important support for net profit for the period.

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