Guangdong Jianlang Hardware Products Co., Ltd. (Jianlang Hardware), a leading Chinese construction hardware enterprise, experienced a decline in both revenue and net profit in 2025. The company recorded a net profit attributable to the parent company of a loss of 100 million yuan, a decrease of 211.61% compared to the previous year. This marks the first time Jianlang Hardware has incurred a loss in its ten years of being listed.
On April 11, Jianlang Hardware released its “2025 Annual Report.” The report revealed that in 2025, the company achieved operating income of approximately 5.544 billion yuan, a year-on-year decrease of 16.48%. The net profit attributable to the parent company was a loss of 100 million yuan, which is a significant decline compared to a profit of 89.9892 million yuan in the same period last year, marking a 211.61% decrease. The company’s attributable non-recurring net profit to shareholders of the listed company also saw a loss of 137 million yuan, down 388.66% year-on-year.
Furthermore, the annual report indicated that the net cash flow generated from operating activities decreased by 32.96% compared to the previous year. Basic earnings per share decreased by 207.41%. Additionally, Jianlang Hardware experienced a significant asset impairment in 2025, with the company providing for asset impairment losses and credit impairment losses totaling approximately 357 million yuan.
According to the news from the “Daily Economic News” on April 11, this marks the second consecutive year of declining performance for Jianlang Hardware, and it is also the first annual loss for the company since its listing in 2016.
While the company’s operating performance declined, some shareholders opted to reduce their holdings. On March 26, just before the disclosure of the annual report, Jianlang Hardware released a notice titled “Announcement on the Completion of Shareholder’s Reduction of Shares.” The announcement revealed that the controlling shareholder and actual controller of the company, Bai Baoping, reduced a total of 2.587 million shares of the company through centralized competitive bidding from January 23 to March 25, totaling approximately 59.57 million yuan in cash.
A previous announcement by Jianlang Hardware indicated that Bai Baoping and the actual controller of the company, Bai Baokun, are siblings.
Jianlang Hardware attributes the company’s losses primarily to increased market competition in the Chinese construction industry and the contraction of demand brought about by the deep adjustment in the real estate market. As a supplier of integrated building components, the company noted that “the cyclical nature of the industry where the company operates, along with severe homogenization and internal competition in the construction hardware industry, have significantly impacted us.”
In terms of product structure, Jianlang Hardware’s main product lines all encountered varying degrees of decline. The annual report showed that revenue from household products was approximately 822 million yuan, a decrease of 24.05%, while revenue from door and window hardware systems, the largest revenue-contributing segment, was about 2.444 billion yuan, down 16.42%.
Public records show that Guangdong Jianlang Hardware Products Co., Ltd. was established in June 2003, headquartered in Dongguan City, Guangdong Province. It is a professional company engaged in the research and development, manufacturing, and sales of construction hardware products.