Yongjie New Materials celebrates its one-year listing: net profit expected to increase by 30% in 2025, with nearly 90 million yuan planned for cash dividends.

On March 11, 2025, the domestic aluminum plate and strip leader “Yongjie New Materials” officially listed on the Shanghai Stock Exchange. 385 days have passed,

The company has also turned in its scorecard for the first year since listing: in full-year 2025, revenue was 9.641 billion yuan, up 18.86%; net profit attributable to shareholders was 415 million yuan, up 30.00%. Net cash flow from operating activities reached 421 million yuan, up 208.38% year over year.

The first year after listing: from scale expansion to structural optimization

In detail, in 2025, Yongjie New Materials’ product structure saw a significant improvement.

During the reporting period, the company’s revenue from lithium battery structural parts aluminum alloy sheets and strips increased 52.83% year over year; revenue from power battery foil increased 58.45%; and revenue from liquid cooling plate materials increased 93.54%. The three high-growth categories jointly drove the company’s main business growth rate.

In terms of share, the combined revenue share from its lithium battery and electronic electrical applications is now up to 81.49%; three years ago, this figure was still less than 60%. This means Yongjie New Materials is no longer a traditional aluminum rolling and processing company, but rather deeply bound to two major high-growth tracks: new energy and consumer electronics.

From a quarter-by-quarter perspective, last year’s first quarter revenue was 1.981 billion yuan; second quarter 2.446 billion yuan; third quarter 2.594 billion yuan; and fourth quarter 2.621 billion yuan, reaching the annual peak. For net profit, the full-year high point occurred in the third quarter at 123 million yuan, while the fourth quarter fell back to 107 million yuan; overall performance remained steady.

For earnings per share, affected by the expansion of the share capital after listing (total share capital increased from 147 million shares to 197 million shares), the company’s basic earnings per share for 2025 was 2.25 yuan, up 3.69% year over year, which is lower than the net profit growth rate. The weighted average return on net assets was 16.39%, down 4.68 percentage points from the same period last year, mainly due to the significant increase in net assets after listing.

On the cash flow side, Yongjie New Materials’ net cash flow from operating activities rose from 137 million yuan in 2024 to 421 million yuan, more than doubling. In its annual report, it explained that this was mainly because the proportion of purchase payments made by issuing bills increased, which reduced outflows of operating cash.

At the same time, its balance sheet has also been further repaired.

According to Tonghuashun iFind, as of the end of 2024, the company’s total assets were 3.504 billion yuan, increasing to 5.029 billion yuan at the end of 2025, up 43.53%; net assets rose from 1.676 billion yuan to 2.924 billion yuan, up 74.46%. Meanwhile, the asset-liability ratio also fell from 52.17% to 41.86%. Short-term borrowings decreased 96.17% compared with the end of the previous period, and long-term borrowings decreased 89.02%, significantly easing repayment pressure.

Against this backdrop, Yongjie New Materials’ R&D investment also grew strongly.

In terms of data, in 2025, the company’s R&D expenses were 335 million yuan, up 21.01%, accounting for 3.47% of total revenue, reaching the highest level in nearly three years. As disclosed in its annual report, the company currently has innovation platforms such as a national postdoctoral research workstation and a provincial enterprise research institute, with an R&D team exceeding 1,000 people. During the reporting period, its project “Key Technologies and Industrialization of High-Performance Ultra-Thin Aluminum Foil” was also selected as a 2025 key research plan project in Hangzhou.

In addition, Caixin Finance also noted Yongjie New Materials’ 2025 dividend proposal: it plans to distribute cash dividends of 4.55 yuan per 10 shares to all shareholders (including tax), for a total cash dividend of approximately 89.52 million yuan. Based on the closing price on March 30, the dividend yield is about 2.04%. Combined with the interim dividend for 2025 already implemented (1.80 yuan per 10 shares), it means Yongjie New Materials’ cumulative dividends for only one year since listing were about 124.9172 million yuan (including tax), accounting for more than 30% of its 2025 net profit attributable to shareholders.

Behind this, on one hand, it reflects Yongjie New Materials’ ample cash flow reserves, which provide the material basis for high-ratio dividends; on the other hand, the fact that it distributed 125 million yuan in dividends in its first year after listing also shows its governance philosophy of management attaching importance to shareholder returns and sharing development results with investors. This helps strengthen the market’s recognition of the company’s long-term value.

The first hard battle after listing: how does the 1.7 billion M&A deal get executed?

Of course, what truly draws market attention is not how much Yongjie New Materials grew in its first year after listing, but rather the massive acquisition it announced two months ago. On January 25 this year, the company said in an announcement that it plans to acquire the equity interests in Qinhuangdao and Kunshan held by Aukenich China for 242 million USD (approximately 1.683 billion yuan). The current production capacity of Aukenich Qinhuangdao is 200,000 tons, and Aukenich Kunshan is 50,000 tons. The target companies both originated from key manufacturing bases in China by Alcoa (Aluminum Corporation of America). As a pioneer in the global aluminum processing industry, Alcoa has more than 130 years of technological accumulation; in materials technology for aerospace and high-end automobiles, it is globally leading, and is a core supplier for industry giants such as Boeing and Airbus.

When discussing the acquisition expectations, Yongjie New Materials also stated that this will increase the company’s capacity from 485,000 tons by about 50%, enabling a leapfrog scale expansion. However, as of the end of 2025, the company’s recorded cash and cash equivalents were only 719 million yuan, leaving a clear gap versus the 1.683 billion yuan transaction consideration.

According to the earlier transaction announcement, Yongjie New Materials will pay using its own funds, self-raised funds, and other cash, which suggests it will most likely need to make up the funds through bank loans or refinancing later. The upside is that in its latest annual report, its asset-liability ratio has already fallen significantly, leaving room to increase leverage.

Going back to the initial stage when Yongjie New Materials listed in March last year, its founder Shen Jianguo said directly: “The pace of running a business will never stop; we must keep improving and investing in innovation and R&D, otherwise we will be eliminated by the market overnight.” Judging from today, this still fits well. From a frontline operator to the head of a regulated-scale enterprise, from recycling scrap metal to a listed company with nearly 10 billion yuan in annual revenue, it took him exactly thirty-one years. Now, Yongjie New Materials is also in a crucial window period: on one side, strong performance after listing; on the other, the need to digest a cross-border acquisition of nearly 1.7 billion yuan.

In 2025, the number of regulated-scale enterprises in China’s aluminum plate, strip, and foil industry reached 4,306, with an average output of only 1.13 hundred thousand tons (11.3 thousand tons per enterprise), and the industry concentration is extremely low, putting pressure on processing fees. There are basically only two paths for leading companies to break through: obtain technology from the upstream and obtain scale from the downstream. Yongjie New Materials has obviously chosen the latter: through the acquisition of Alcoa’s bases in China, it has stepped directly into the global high-end aluminum processing technology system and customer network.

2025 performance has already proved that this aluminum plate, strip, and foil company that grew out of Xiaoshan has correctly caught the windfall opportunities in new energy and consumer electronics. And the latest acquisition in 2026 will further test whether it can stand firm on a broader global stage.