Fortior Technology (Shenzhen) Co., Ltd. reported revenue of RMB773.90 million for the year ended 31 December 2025, up 28.9% from RMB600.33 million in 2024. Growth was driven mainly by stronger demand for micro-controller units (MCUs) and application-specific ICs (ASICs), which together contributed nearly 80% of sales.

Gross profit rose 26.8% to RMB400.75 million, while the gross margin slipped 0.8 percentage point to 51.8% as cost of sales increased 31.3% to RMB373.16 million.

Net profit edged down 1.5% year-on-year to RMB218.94 million after the company booked RMB52.40 million in additional share-based payments related to a restricted share incentive plan launched in late 2024. Adjusted for this non-cash expense and tax effects, management noted an 18.9% underlying profit increase.

Earnings per share were RMB2.16 (basic) versus RMB2.41 a year earlier. The board recommended a final dividend of RMB0.78 per share, representing a payout of roughly RMB89.79 million.

Segment highlights • MCU revenue grew 25.4% to RMB482.34 million, representing 62.3% of group turnover. • ASIC sales jumped 57.0% to RMB133.02 million, lifting its revenue share to 17.2%. • High-voltage IC (HVIC) sales advanced 12.8% to RMB95.05 million. • Integrated power modules (IPMs) rose 38.8% to RMB60.18 million, aided by demand in white goods and smart appliances.

Geographically, Mainland China accounted for 92.7% of total revenue at RMB717.77 million, with the balance generated mainly in Taiwan, India and Hong Kong. One customer contributed RMB101.97 million, or 13.2% of group sales.

Operating expenses • R&D expenditure increased 44.9% to RMB169.15 million, equal to 21.9% of revenue, reflecting higher headcount, technical service fees and depreciation. • Selling and distribution costs rose 63.9% to RMB40.43 million. • Administrative expenses climbed 63.3% to RMB58.18 million, also inflated by equity-based compensation.

Balance sheet and cash flow Total assets nearly doubled to RMB5.07 billion (2024: RMB2.55 billion), boosted by H-share listing proceeds and higher financial investments. Cash and cash equivalents stood at RMB299.80 million, while time deposits reached RMB2.13 billion. The debt-to-asset ratio remained low at 2.9%.

Capital deployment Net IPO proceeds of HK$2.47 billion (about RMB2.25 billion) were largely unspent at year-end, with HK$184.60 million deployed mainly for R&D and working capital.

Outlook initiatives disclosed include continued R&D investment in industrial, automotive and robotics applications, overseas market expansion and potential strategic acquisitions funded by remaining IPO proceeds.