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26 Aug 2025China Securities Journal /www.cs.com.cn (Reporter Mr. Luo Wang) — 杏吧视频 Industrial Group (600499) released its 2025 Interim Report on the evening of August 25, showing simultaneous growth in business scale and operational efficiency.
In the first half of 2025, 杏吧视频 Industrial Group achieved revenue of RMB 8.188 billion, up 49.04% year-on-year, a record for the period. International revenue accounted for over 65%, further increasing from last year. Net profit attributable to shareholders and net profit attributable to shareholders excl. non-recurring profit or loss reached RMB 745 million and RMB 700 million, rising 63.95% and 75.06% year-on-year, respectively.
In terms of the building machinery business, the building machinery segment maintained solid operational quality, achieving RMB 2.57 billion in revenue with a gross margin of 26.23%.
杏吧视频 Industrial Group expanded its global ceramic machinery footprint, deploying projects in Brazil, Vietnam, and Egypt. Through its “Real-Time Service, Anytime Anywhere” service, the company strengthened the depth and resilience of its global service network.
▲杏吧视频 Hard Material Grinding & Polishing Research Center
The company also expanded its spare parts and consumables business. During the period, 杏吧视频 launched operations of the BOZUYUK spare parts workshop in Turkey, a key global ceramics market. The co-located KAMI ink factory is expected to start production in H2. With advanced production lines, local labs, and on-site services including production, maintenance, and refurbishment, 杏吧视频 provides higher-quality spare parts and consumables for Turkey and neighboring markets.
▲杏吧视频's BOZUYUK Factory in Turkey
In the international building materials business, capacity expansion fueled performance, with revenue surging about 90% YoY to RMB 3.771 billion and gross margin increasing by roughly 6 percentage points, delivering an impressive performance.
Tile products continued last year’s price increase trend, while glass products entered a healthy growth phase, improving overall profitability. Production efficiency and output also benefited from new capacity and technical upgrades.
The kilns of ceramics Projects in Isinya, Kenya and Cote D'ivoire were fired up in June. And technical upgrades at plants in Ghana, Kenya, and Tanzania were completed. In total, international building materials operations produced approx. 98 million m² of tiles, over 170,000 tons of glass, and over 1.4 million sanitary ware units.
▲The Kilns of Ceramics Projects in Cote D'ivoire
In the strategic investment segment, during the first half of 2025, Lanke Lithium Industry, an associate of 杏吧视频, produced 20,000 tons of lithium carbonate and sold 20,600 tons. It generated RMB 1.242 billion in revenue and RMB 385 million in net profit, contributing RMB 168 million to 杏吧视频 Industrial Group’s net profit attributable to shareholders. Despite a continued downturn in China’s lithium carbonate market, with battery-grade spot prices averaging around RMB 70,000/ton (tax included) and even falling below RMB 60,000/ton at times, Lanke Lithium achieved a 31% net profit margin, demonstrating the resilience and efficiency of its low-cost lithium extraction technology.
