WUXI, China, April 28, 2026 /PRNewswire/ -- HUHUTECH International Group Inc. (Nasdaq: HUHU) (the "Company" or "HUHUTECH"), a professional provider of factory facility management and monitoring systems, today announced its financial results for the fiscal year ended December 31, 2025.
Mr. Yujun Xiao, Chief Executive Officer of HUHUTECH, commented, "We delivered solid top-line growth in fiscal year 2025, with total revenue increasing by 18.1% year-over-year to $21.4 million, supported by continued demand for our system integration solutions and a significant ramp-up in product sales. Gross profit also grew steadily, reflecting the resilience of our core business model. Importantly, we began generating initial contributions from our overseas subsidiaries in the United States and Singapore, marking a meaningful step in our global expansion strategy and validating our localized deployment approach. While we reported a net loss for the year, this was primarily driven by an increase in share-based compensation associated with our long-term incentive initiatives following our public listing. Excluding this non-cash impact, our operating performance remained stable, and we achieved positive operating cash flow.
Looking ahead, we remain focused on expanding our international footprint, strengthening our product commercialization capabilities, and enhancing operational efficiency. We plan to continue to advance the intelligence and digitalization of our systems, including leveraging digital twin technology and AI-driven analytics to enhance reliability, and meet the increasing technical demands of advanced semiconductor manufacturing. We believe our integrated solutions and growing global presence position us well to capture opportunities in the pan-semiconductor industry and deliver sustainable long-term value to our shareholders."
Fiscal Year 2025 Financial Highlights
- Total revenue was $21.4 million in fiscal year 2025, an increase of 18.1% from $18.1 million in fiscal year 2024.
- Gross profit was $7.1 million in fiscal year 2025, an increase of 8.1% from $6.6 million in fiscal year 2024.
- Gross margin was 33.1% in fiscal year 2025, decreased from 36.1% in fiscal year 2024.
- Net loss was $17.3 million in fiscal year 2025, compared to $1.9 million in fiscal year 2024.
- Basic and diluted loss per share were $0.75 in fiscal year 2025, compared to $0.10 in fiscal year 2024.
Fiscal Year 2025 Financial Results
Revenues
Total revenue was $21.4 million in fiscal year 2025, an increase of 18.1% from $18.1 million in fiscal year 2024. The overall increase in total revenue was primarily attributable to a $3.4 million increase in revenue from product sale.
- Revenue from system integration projects was $16.63 million in fiscal year 2025, an increase of 0.2% from $16.59 million in fiscal year 2024, which was due to the expansion of the Company's business in the Japanese market in fiscal year 2025.
- Revenue from engineering consulting services was $0.2 million in fiscal year 2025, a decrease of 38.1% from $0.4 million in fiscal year 2024. The decrease in revenue from engineering consulting services was mainly due to a shift of focus on system integration projects in fiscal year 2025.
- Revenue from product sales was $4.6 million in fiscal year 2025, an increase of 281.1% from $1.2 million in fiscal year 2024. The increase of product sales revenue was due to increase in product needs along with system integration projects in fiscal year 2025.
Cost of Revenues
Cost of revenue was $14.3 million in fiscal year 2025, an increase of 23.7% from $11.6 million in fiscal year 2024.
Gross Profit and Gross Margin
Gross profit was $7.1 million in fiscal year 2025, an increase of 8.1% from $6.6 million in fiscal year 2024.
Gross margin was 33.1% in fiscal year 2025, decreased from 36.1% in fiscal year 2024.
Operating Expenses
Total operating expenses were $24.1 million in fiscal year 2025, an increase of 197.7% from $8.1 million in fiscal year 2024.
- Selling expenses were $1.4 million in fiscal year 2025, a decrease of 30.7% from $2.1 million in fiscal year 2024, mainly due to the operation decreased consulting service fee by approximately $0.8 million, an increase of advertising expenses approximately $0.2 million.
- General and administrative expenses were $21.8 million in fiscal year 2025, an increase of 589.6% from $3.2 million in fiscal year 2024. The significant increase was contributed by (i) an approximately $18.6 million increase in share-based compensation, (ii) an approximately $1.3 million increase in impairment losses, (iii) a decrease of consulting and audit fees approximately $1.6 million.
- Research and development expenses were $0.9 million in fiscal year 2025, a decrease of 68.8% from $2.9 million in fiscal year 2024. The decrease was due to (i) a decrease of approximately $1.8 million in technical consulting fees charged by a third party, (ii) a decrease of approximately $0.1 million in material costs and of approximately $0.1 million other expenses.
Net Loss
Net loss was $17.3 million in fiscal year 2025, compared to $1.9 million in fiscal year 2024.
Basic and Diluted Loss per Share
Basic and diluted loss per share were $0.75 in fiscal year 2025, compared to $0.10 in fiscal year 2024.
Financial Condition
As of December 31, 2025, the Company had cash of $4.4 million, compared to $3.1 million as of December 31, 2024.
Net cash provided by operating activities in fiscal year 2025 was $2.9 million, compared to net cash used in operating activities of $3.0 million in fiscal year 2024.
Net cash used in investing activities in fiscal year 2025 was $0.2 million, compared to $3.8 million in fiscal year 2024.
Net cash used in financing activities in fiscal year 2025 was $1.1 million, compared to net cash provided by financing activities of $7.5 million in fiscal year 2024.
About HUHUTECH International Group Inc.
HUHUTECH International Group Inc. is a professional provider of factory facility management and monitoring systems. Through its subsidiaries in China, Japan, the United States, Germany, and Singapore, HUHUTECH designs and provides customized high-purity gas and chemical production system and equipment. The Company's products mainly include high-purity process systems (HPS) and factory management control systems (FMCS), which effectively increase operation efficiency by using standardized module software. The modularity of HUHUTECH's software solution reduces the errors caused by frequent updates of the program. As a nationally recognized brand, HUHUTECH serves major players in the pan-semiconductor industry. Its products and services are widely used by semi-conductor manufacturers, LED and micro-electronics factories, as well as some pharmaceutical, food and beverage manufacturers. For more information, please visit the Company's website: ir.huhutech.com.cn.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. All statements other than statements of historical facts included in this announcement are forward-looking statements. Forward-looking statements include, but are not limited to, express or implied statements regarding expectations, hopes, beliefs, intentions or strategies of the Company regarding the future including, without limitation, express or implied statements regarding: the expected completion of the Private Placement, the potential full exercise of the warrant and the additional proceeds therefrom. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. The Company's actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include the risks and uncertainties described in the Company's annual report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the "Commission") on April 28, 2026, and the Company's other filings with the Commission. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
For more information, please contact:
HUHUTECH International Group Inc.
Investor Relations Department
Email: [email protected]
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]
HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES | ||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||
As of December 31, | ||||||||
2025 | 2024 | |||||||
ASSETS | ||||||||
CURRENT ASSETS: | ||||||||
Cash | $ | 4,428,602 | $ | 3,102,865 | ||||
Restricted cash | 300,296 | 220,261 | ||||||
Note receivable | 86,149 | 254,092 | ||||||
Accounts receivable, net | 9,249,042 | 9,185,586 | ||||||
Accounts receivable - a related party | 516,290 | 447,703 | ||||||
Inventories | 1,103,685 | 1,175,241 | ||||||
Advance to vendors | 1,215,220 | 150,637 | ||||||
Prepayments and other assets, net | 295,738 | 80,137 | ||||||
Due from related parties | 2,292 | - | ||||||
TOTAL CURRENT ASSETS | 17,197,314 | 14,616,522 | ||||||
Property, plant and equipment, net | 4,277,525 | 4,978,080 | ||||||
Intangible assets, net | 45,115 | 79,985 | ||||||
Deferred tax assets | 684,847 | 326,087 | ||||||
Right-of-use assets, net | 159,685 | 183,815 | ||||||
TOTAL ASSETS | $ | 22,364,486 | $ | 20,184,489 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
CURRENT LIABILITIES: | ||||||||
Short term bank loans | $ | 3,359,025 | $ | 5,273,678 | ||||
Long-term bank loans - current | 230,397 | - | ||||||
Loan payable from third-party | 500,000 | - | ||||||
Notes payable | - | 733,996 | ||||||
Accounts payable | 5,390,732 | 4,466,933 | ||||||
Due to a related party | - | 246,454 | ||||||
Advance from customers | 1,698,526 | 1,403,628 | ||||||
Accrued expenses and other liabilities | 801,422 | 732,419 | ||||||
Taxes payable | 884,694 | 356,889 | ||||||
Operating lease liabilities - current | 142,076 | 104,088 | ||||||
TOTAL CURRENT LIABILITIES | 13,006,872 | 13,318,085 | ||||||
Long term loans | 1,919,974 | 260,299 | ||||||
Operating lease liabilities - non-current | 22,582 | 80,636 | ||||||
TOTAL LIABILITIES | 14,949,428 | 13,659,020 | ||||||
COMMITMENTS AND CONTINGENCIES (Note 13) | ||||||||
SHAREHOLDERS' EQUITY: | ||||||||
Ordinary shares, $0.0000025 par value, 20,000,000,000 shares authorized, 24,103,749 | 60 | 53 | ||||||
Additional paid-in capital | 23,050,345 | 4,695,350 | ||||||
Statutory reserves | 343,077 | 343,077 | ||||||
(Accumulated deficit) retained earnings | (15,317,791) | 2,026,786 | ||||||
Accumulated other comprehensive loss | (660,633) | (539,797) | ||||||
TOTAL SHAREHOLDERS' EQUITY | 7,415,058 | 6,525,469 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,364,486 | $ | 20,184,489 | ||||
HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2025 | 2024 | 2023 | ||||||||||
Revenues - third parties | $ | 20,381,046 | $ | 17,642,595 | $ | 16,732,688 | ||||||
Revenues - related party | 1,050,906 | 506,649 | - | |||||||||
Total Revenues | 21,431,952 | 18,149,244 | 16,732,688 | |||||||||
Cost of revenues - third parties | 13,959,008 | 10,919,792 | 11,110,545 | |||||||||
Cost of revenues - related party | 389,148 | 676,889 | 210,251 | |||||||||
Total cost of revenues | 14,348,156 | 11,596,681 | 11,320,796 | |||||||||
Gross profit | 7,083,796 | 6,552,563 | 5,411,892 | |||||||||
Operating expenses: | ||||||||||||
Selling expenses | 1,434,220 | 2,068,278 | 871,797 | |||||||||
General and administrative expenses | 21,809,751 | 3,162,801 | 1,036,922 | |||||||||
Research and development expenses | 898,642 | 2,879,183 | 1,341,221 | |||||||||
Total operating expenses | 24,142,613 | 8,110,262 | 3,249,940 | |||||||||
(Loss) income from operations | (17,058,817) | (1,557,699) | 2,161,952 | |||||||||
Other income (expense): | ||||||||||||
Interest income | 29,747 | 8,691 | 7,279 | |||||||||
Interest expense | (118,124) | (113,657) | (72,197) | |||||||||
Other income, net | 105,609 | 5,821 | 492,123 | |||||||||
Total other income (expense), net | 17,232 | (99,145) | 427,205 | |||||||||
(Loss) income before income taxes | (17,041,585) | (1,656,844) | 2,589,157 | |||||||||
Provision for income taxes | 302,992 | 274,399 | 255,570 | |||||||||
Net (loss) income | (17,344,577) | (1,931,243) | 2,333,587 | |||||||||
Other comprehensive loss | ||||||||||||
Foreign currency translation adjustments | (120,836) | (281,259) | (105,029) | |||||||||
Comprehensive (loss) income | $ | (17,465,413) | $ | (2,212,502) | $ | 2,228,558 | ||||||
(Loss) earnings per share* | ||||||||||||
Basic and diluted | $ | (0.75) | $ | (0.10) | $ | 0.47 | ||||||
Weighted average number of shares outstanding | ||||||||||||
Basic and diluted | 23,233,110 | 20,208,803 | 20,000,000 | |||||||||
HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2025 | 2024 | 2023 | ||||||||||
Cash flows from operating activities: | ||||||||||||
Net (loss) income | $ | (17,344,577) | $ | (1,931,243) | $ | 2,333,587 | ||||||
Adjustments to reconcile net income to net cash provided by (used in) | ||||||||||||
Depreciation and amortization | 290,556 | 326,471 | 214,106 | |||||||||
Provision for credit losses | 1,299,972 | 1,900 | 25,335 | |||||||||
Deferred tax (benefits) provision expense | (335,241) | (274,609) | 11,950 | |||||||||
Share-based compensation | 18,355,002 | - | - | |||||||||
Loss from disposal of property, plant and equipment | 5,775 | - | - | |||||||||
Amortization of operating lease right-of-use assets | 153,807 | 62,062 | 53,307 | |||||||||
Changes in operating assets and liabilities: | ||||||||||||
Accounts receivable | (1,006,149) | (724,911) | (2,817,167) | |||||||||
Accounts receivable a related party | (47,658) | (454,150) | - | |||||||||
Notes receivable | 174,226 | (257,751) | - | |||||||||
Inventories | 780,827 | (669,170) | 851,308 | |||||||||
Prepayments and other assets | (206,843) | 97,665 | 50,862 | |||||||||
Advance to vendors | (1,029,372) | (88,917) | (5,119) | |||||||||
Accounts payable | 1,159,736 | 52,879 | 1,603,497 | |||||||||
Accrued expenses and other liabilities | 30,075 | 188,280 | 115,482 | |||||||||
Advance from customers | 227,024 | 493,048 | 446,802 | |||||||||
Taxes payable | 506,575 | (40,645) | 246,100 | |||||||||
Due from related parties | - | 250,495 | - | |||||||||
Operating leases liabilities | (115,118) | (66,909) | (81,121) | |||||||||
Net cash provided by (used in) operating activities | 2,898,617 | (3,035,505) | 3,048,929 | |||||||||
Cash flows from investing activities: | ||||||||||||
Additions to property, plant, and equipment | (164,593) | (3,825,547) | (1,205,784) | |||||||||
Proceeds from disposal of property and equipment, net | 3,033 | - | - | |||||||||
Acquisition of intangible asset | (4,538) | - | (2,469) | |||||||||
Net cash used in investing activities | (166,098) | (3,825,547) | (1,208,253) | |||||||||
Cash flows from financing activities: | ||||||||||||
Payments to related parties | (231,304) | (868,438) | - | |||||||||
Loans from third party | 500,000 | - | - | |||||||||
Advances from related parties | - | - | 325,642 | |||||||||
Proceeds from initial public offering | - | 4,117,955 | - | |||||||||
(Repayments of) proceeds from bank acceptance notes payable, net | (1,145,360) | 642,004 | (389,894) | |||||||||
Proceeds from short-term bank loans | 7,868,480 | 7,905,066 | 3,135,195 | |||||||||
Repayment of short-term bank loans | (10,042,446) | (4,223,122) | (3,417,645) | |||||||||
Proceeds from long-term bank loans | 2,412,528 | 694,859 | - | |||||||||
Repayment of long-term bank loans | (425,183) | (430,813) | - | |||||||||
Payment of offering costs | - | (382,333) | (247,874) | |||||||||
Net cash (used in) provided by financing activities | (1,063,285) | 7,455,178 | (594,576) | |||||||||
Effect of exchange rate changes on cash and restricted cash | (263,462) | (117,659) | (88,057) | |||||||||
Net increase in cash and restricted cash | 1,405,772 | 476,467 | 1,158,043 | |||||||||
Cash and restricted cash, beginning of year | 3,323,126 | 2,846,659 | 1,688,616 | |||||||||
Cash and restricted cash, end of year | $ | 4,728,898 | $ | 3,323,126 | $ | 2,846,659 | ||||||
Reconciliation of cash and restricted cash, end of year | ||||||||||||
Cash | $ | 4,428,602 | $ | 3,102,865 | $ | 2,739,530 | ||||||
Restricted cash | 300,296 | 220,261 | 107,129 | |||||||||
Cash and restricted cash, end of year | $ | 4,728,898 | $ | 3,323,126 | $ | 2,846,659 | ||||||
Supplemental cash flow disclosures: | ||||||||||||
Cash paid for income tax | $ | 9,738 | $ | 97,101 | $ | 68,649 | ||||||
Cash paid for interest | $ | 81,695 | $ | 36,403 | $ | 68,255 | ||||||
Non-cash activities: | ||||||||||||
Right-of-use assets obtained in exchange for operating lease obligations | $ | 118,994 | $ | 79,591 | $ | 323,290 | ||||||
Reclassification of deferred offering costs | $ | - | $ | 1,160,781 | $ | - | ||||||
Reclassification of construction in progress to inventory | 666,327 | - | - | |||||||||
SOURCE HUHUTECH International Group Inc.
