Autel Technology Discloses 2025 Annual Report Inquiry Response, Multi-Dimensional Details Strengthen Operational Transparency

Regulation
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Autel Technology disclosed its response to the inquiry letter on its 2025 annual report, publicly presenting details across multiple dimensions including subsidiary equity adjustments, overseas business operations, and financial reconciliation relationships. The previous three rounds of equity transfers for subsidiary Safedefend Technology strictly followed review procedures, with pricing based on third-party evaluations. As of the end of June 2026, transaction payments and overdue penalty fees of 787,400 yuan have been collected in full, of which the equity transfer payment of 24.42 million yuan was settled before August 2025. In 2025, the company achieved operating revenue of 4.773 billion yuan, with overseas revenue of 4.657 billion yuan, accounting for 97.56 percent. The gross margin in the North American market was 62.71 percent, while the domestic gross margin was 37.43 percent. The difference stems from high acceptance of product performance in overseas markets and cost advantages of overseas production bases. The Monterrey plant in Mexico has gradually taken over orders from the US market, leveraging the USMCA to achieve zero-tariff exports. Research and development investment was 874 million yuan, with a capitalization rate of 11.33 percent, lower than the industry average. Ending inventory balance was 1.668 billion yuan, with inventory aged within one year accounting for 87.9 percent, and inventory aged over one year provisioned for impairment at a rate of 40.5 percent. Counterparties for accounts receivable factoring transactions are all US banks, without recourse, and the post-period collection rate for accounts receivable at the end of 2025 was 99.76 percent. Ending cash and cash equivalents were 1.682 billion yuan, with an average yield on US dollar deposits of 1.76 percent, and interest-bearing liabilities mainly consisted of 1.213 billion yuan in convertible bonds and lease liabilities. In addition, the Orange case was won in January 2026, providing judicial validation of the core technology moat.

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Others▲ · 1 stocks
Autel Intelligent Technology Corp Ltd
688208
▲ PositiveCapitalrelevance

Company disclosed detailed response to annual report inquiry, showing strong financial health, high overseas margins, and low risk in receivables and inventory.

Off-coverage companies 1

塞防科技Private▲ Positive
Capitalrelevance

Subsidiary Safedefend Technology's equity transfers were properly reviewed and payments fully collected, indicating no irregularities.

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