Record Revenue, Resilient Growth — Hangcha 2025 Annual Report

On April 21st, 2026, Hangcha Group Co., Ltd. (stock code: 603298) released its 2025 Annual Report. Amid global economic uncertainties and intensifying industry competition, Hangcha delivered steady growth through innovation, global expansion, and industrial upgrading, which reinforces its leadership in the industrial vehicle sector.

Steady Growth in a Challenging Year

2025 tested the whole industry, but we navigated it well. Revenue reached RMB 17.74 billion (est. USD 2.48 billion), up 5.90%, with overseas revenue growing 10.97% year-on-year to RMB 7.69 billion (est. USD 1.08 billion), representing 43.38% of our total. We sold 334,360 units, up 19.41%. Net profit grew 8.87% to RMB 2.19 billion (est. USD 0.31 billion).

2025 Annual Report Highlight

New Products, Key Innovations

We launched more than 60 new products and technologies during the year, several of them genuine firsts: the XH Series Rough Terrain Telehandler (2.5–3.5t) with 4WD, 45° gradeability, and the 2.0t EZ GO Mini Pallet AMR. Behind these launches, we secured 163 patent grants, including 93 invention patents, and invested RMB 858.9 million (est. USD 120 million) in R&D, representing 4.84% of revenue.

Rough Terrain Telehandler (2.5–3.5t)

Intelligent Logistics and Robotics

Our acquisition of Guozi Robotics brought world-class algorithm talent into our group, lifting our combined AGV/AMR business to nearly RMB 1 billion (est.USD 140 million)  in revenue. At CeMAT ASIA, we unveiled the X1 Series Logistics Humanoid Robot, a 22-joint bionic arm system with ±0.1mm handling precision.

X1 Series Logistics Humanoid Robot

Going Global

Overseas sales exceeded 120,000 units, up over 27%, with electrics accounting for over 77% of exports.We now operate 20+ subsidiaries and are pleased to see the opening of Hangcha Indonesia, Hangcha Europe Rental & Sales, Hangcha Vietnam, Hangcha Malaysia, Hangcha America Smart Logistics, Hangcha Japan, and Hangcha Middle East in 2025 — alongside 300+ distributors worldwide. Beside these, our Shiqiao Innovation Park focus on overseas business and intelligent solutions was put into use in Jan, 2026, and our Thailand manufacturing base will open in Q2 2026 and begin production.

7 Overseas Subsidiaries Opened in 2025

Looking Ahead

Our 2026 priorities are clear: advance our new-energy roadmap, commercialise our robotics portfolio, deepen overseas localisation, and grow after-market services. All of these are designed to deliver greater value to our customers. We have long held the ambition to become the world’s strongest forklift enterprise, and what we accomplished in 2025 brings that ambition measurably closer.