Triumph New Energy reports significant increase in losses for Q3 2025

Triumph New Energy Company Limited reported a net loss attributable to shareholders of RMB 147,275,842.71 for the three months ended September 30, 2025, a 23.50% increase in loss compared to the same period in the previous year. For the nine months ended September 30, 2025, the net loss attributable to shareholders widened by 141.12% to RMB 596,259,964.22. Total assets increased by 10.23% to RMB 13,564,036,427.17, while owner's equity attributable to shareholders decreased by 14.84% to RMB 3,420,961,182.66 by the end of the reporting period.

Operating revenue for the third quarter increased by 40.15% to RMB 1,003,378,573.73, driven by recovered sales volume and prices. However, operating revenue for the first three quarters decreased by 27.55% to RMB 2,676,772,262.21. Finance expenses saw a 60.61% increase in the third quarter and a 26.56% increase for the nine-month period, attributed to higher interest-bearing liabilities.

Net cash flow from operating activities improved significantly in the third quarter, reaching RMB 9,013,278.11, a 114.69% increase. However, for the nine months ended September 30, 2025, operating cash flow recorded a significant deficit of RMB 735,810,751.58, an 819.57% decrease compared to the previous year. Bank borrowings increased by 109.04% in the first three quarters.