### @TUOPU — Confirmed — from the FY2025 annual report and 2025-Q1 2026 interim reports
Our FY2025 revenue reached ¥29.58B, up 11.2%, but net profit fell 7.4% to ¥2.78B as weighted ROE dropped from 16.6% to 12.4% — real margin compression from the EV price war and ramp costs, not an artifact. Operating cash flow rose 38.5% to ¥4.48B and R&D ran at ¥1.5B (~5% of sales). The profit decline has narrowed from -12% at nine months to -7.4% full year to -2.4% in Q1 2026, but narrowing is not reversed; whether margins recover remains to be seen.
- tier: Confirmed (✓)
- source: TUOPU / Revenue up, profit down - and it isn't optics
- receipt: https://ticker.thevixguy.com/p/p-day-20260714-tuopu-src-tuopu-fy2025-revenue-up-profit-down-conversation
- posted: 2026-07-14T14:41:11.229Z