GEB China Reports Nearly 50% YoY Growth in 2025 Performance, Plans to Raise 970 Million Yuan for Multi-field Capacity Expansion

Recently, GEB Chinahas successively released its 2025 annual performance express and convertible bond issuance plan. While achieving substantial growth in performance, the company plans to further expand its business boundaries and strengthen its core competitiveness through fund-raising and capacity expansion. Performance data shows that the company delivered an impressive operating performance in 2025, with both operating income and net profit attributable to parent company increasing by nearly 50% year-on-year, and the performance growth rate in the fourth quarter was particularly prominent, demonstrating strong development resilience.

According to the performance express, in 2025, the company achieved an operating income of 2.02 billion yuan, a year-on-year increase of 49.07%; the net profit attributable to the parent company was 147 million yuan, a year-on-year increase of 47.86%. The growth rates of operating income and profit were basically the same, maintaining stable profitability. From the perspective of single-quarter performance, the company's performance growth rate accelerated further in the fourth quarter of 2025. It is estimated to achieve an operating income of 649 million yuan, a year-on-year increase of 50.12% and a month-on-month increase of 20.82%; the net profit attributable to the parent company was 39 million yuan, a year-on-year increase of as high as 140.15% and a month-on-month increase of 18.49%. The single-quarter profit performance was significantly better than the first three quarters, becoming an important support for the full-year performance growth.

The rapid growth of GEB's performance is mainly driven by the continuous efforts of its two core businesses: wind power bearing cages and auto parts. As a key enterprise in China's bearing cage field, GEB has formed a complete product line in the wind power field. Its products can adapt to different application scenarios of onshore and offshore wind turbines, covering bearing components for key parts such as wind turbine pitch systems, gearboxes and main shafts.

It is understood that China's wind power industry continued to recover in 2025, with a substantial increase in wind turbine bidding volume and installed capacity. The rising proportion of large-megawatt wind turbines further drove the growth in demand for bearing cages. The market size of China's wind power bearing cages is expected to exceed 3 billion yuan in 2025, and the industry prosperity continues to be high. Against this background, the delivery volume of GEB's wind power series products increased significantly. In the first three quarters, the revenue in this field reached 312 million yuan, a year-on-year increase of 85.94%, fully benefiting from the industry dividend.

In terms of the auto parts business, the company's electric drive system stator and rotor series products performed particularly prominently, becoming another core engine for performance growth. According to the investor activity record released by the company earlier, there are currently 98 product projects in this series, of which 57 have been mass-produced, 3 are in the PPAP sample delivery stage, 9 are in the C-sample or OTS sample delivery stage, and 29 are in the A-sample or B-sample delivery stage, forming a reasonable product echelon layout.

In the first three quarters of 2025, this series of products achieved an income of 276 million yuan, a year-on-year surge of 280.62%. With the continuous release of production capacity, large-scale replication of production lines and gradual mass production of new projects, the company's scale effect will become more prominent, driving the steady improvement of profitability.

While the performance is growing steadily, focusing on long-term development, the company has released a convertible bond issuance plan, intending to raise a total of no more than 970 million yuan for layout in three major directions to further improve the production capacity layout and supplement capital liquidity. Among them, 646 million yuan will be invested in the intelligent manufacturing project of key components for high-end equipment. This project covers two production bases in Chongqing and Hanshan.

After reaching production capacity, the Chongqing base can produce 1.5 million stator assemblies, 1.05 million rotor assemblies and 60,000 low-altitude aircraft motor assemblies annually; the Hanshan base can produce 600,000 stator assemblies and 900,000 rotor assemblies annually. The combined expected annual revenue of the two bases can reach 2.213 billion yuan.

In addition, 162 million yuan will be used for the intelligent manufacturing project of precision components for joint modules and semiconductor heat sinks, mainly producing semiconductor heat sinks, harmonic reducer flexspline blanks and other products. After the project reaches production capacity, it can achieve an annual output of 30 million semiconductor metal heat sinks and 3.5 million harmonic reducer flexspline blanks, with an expected annual sales income of 300 million yuan. This will help the company enter emerging fields such as robots and semiconductors, opening up new growth space.

The remaining 162 million yuan will be used to supplement working capital, optimize the company's financial structure, and provide capital guarantee for daily operations and business expansion.

Industry institutions hold an optimistic attitude towards the company's future development and have given profit forecasts and investment suggestions. Institutions predict that the company's net profit attributable to the parent company will reach 150 million yuan, 210 million yuan and 280 million yuan in 2025-2027 respectively, with a compound annual growth rate of 41% in the next three years. Institutions believe that the company's business in the auto parts field is expanding rapidly, and it is actively expanding into new tracks such as robots and semiconductor heat sinks, with broad growth space.

Industry insiders said that GEB has achieved high-speed performance growth driven by the dual impetus of wind power components and auto parts business. The convertible bond fund-raising and capacity expansion this time is not only a reinforcement of its existing core business, but also a layout in emerging fields, which is expected to further enhance the company's market competitiveness. With the gradual implementation and effect of new projects, the company will continue to benefit from the improvement of industry prosperity and the release of its own production capacity, achieving high-quality development.