Kaihua Materials: Net profit in 2025 was 14.4134 million yuan, a year-on-year decrease of 38.21%.

Kaihua Materials released its performance report, with operating income of 115 million yuan in 2025, a decrease of 0.32% year-on-year. Net profit was 14.4134 million yuan, a decrease of 38.21% compared to the same period last year. The main reason for the decline was the government subsidy of 8.9 million yuan received in the same period last year.