Yinghe Technology's Sikary reports revenue of 1.274 billion yuan in 2025 first half, with net profit of 3.20 billion yuan

Key points

Sikary reported a revenue of 1.274 billion yuan and a net profit of 320 million yuan. The company's business model focuses on its own brand, offering disposable e-cigarettes, pod systems, and accessories.

Market expansion: Significant progress has been made in the UK, Germany, Poland, the Netherlands, Malaysia, the US, and other countries.

Establishment of subsidiaries: Subsidiaries have been established in the United Kingdom, United States, Russia, Indonesia, and Hong Kong.

Strategic Goal: Advance the development strategy of "Based in the UK, Radiating Europe".

Recently, Yinghe Technology (300457.SZ) released its 2025 semi-annual report. The financial report shows that the company achieved operating income of 4.264 billion yuan in the first half of the year, a decrease of 3.68% compared to 2024, with a net profit attributable to shareholders of the listed company of 271 million yuan, a decrease of 19.84% compared to 2024. During the reporting period, the e-cigarette business operated by subsidiary Sikary generated operating income of 1.274 billion yuan and a net profit of 320 million yuan in the first half of 2025.

Performance situation

Operating income: achieved 4.264 billion yuan, a decrease of 3.68% compared to the same period last year with 4.427 billion yuan. 

Net profit attributable to the parent company: achieved 0.271 billion yuan, a decrease of 19.84% compared to the same period last year with 0.338 billion yuan. 

Non-recurring net profit attributable to the parent company: achieved 0.268 billion yuan, a decrease of 17.99% compared to the previous year, indicating a decline in main business profits. 

Earnings per share: basic earnings per share is 0.42 yuan, a decrease of 19.23% compared to the previous year.

E-cigarette business

During the reporting period, the company's e-cigarette business was operated by its controlling subsidiary Shenzhen Sikary Technology Co., Ltd. (holding 51% of shares). Sikary achieved a revenue of 1.274 billion yuan in the first half of the year, with a net profit of 320 million yuan.

Revenue: 1.274 billion yuan Net profit: 320 million yuan 

Business model: Mainly focused on own-brand business, providing customers with disposable e-cigarettes, pod systems, and accessories. 

Yinghe Technology stated in the report that Sikary has successfully obtained TPD certification for entry into the European e-cigarette market, laying a compliant foundation for its expansion in the European market. Significant progress has been made in markets such as the UK, Germany, Poland, the Netherlands, Malaysia, and the US, with increasing brand awareness. Subsidiaries have been established in the UK, US, Russia, Indonesia, and Hong Kong, gradually achieving the strategic goal of "Based in the UK, Radiating Europe.