MTEN

WUXI, China, Oct. 1, 2025 /PRNewswire/ -- Mingteng International Corporation Inc. (the "Company" or "Mingteng International") (Nasdaq: MTEN), an automotive mold developer and supplier in China, today announced its unaudited financial results for the first half of fiscal year 2025 ended June 30, 2025. Mr. Yingkai Xu, Chairman and Chief Executive Officer of Mingteng International, remarked, "In the first half of fiscal year 2025, we adopted a balanced and agile strategy to navigate market volatility and emerging trends. This included expanding our operations of machining services to diversify our revenue streams, while maintaining relationships with our long-term customers and expanding further in the mold market. Revenue from mold production grew steadily by 9.7%, while our machining services segment maintained the momentum with a 39.1% increase in revenue and a 19.0% rise in gross profit. This reinforced the machining service's position as our second-largest revenue contributor and helped drive total revenue growth of 13.2%, despite challenging industry conditions." With greater production capacity and a stronger workforce, we are now better positioned to pursue complex, customized, and longer-cycle products that command premium pricing and open new opportunities for value-added services. We expect this enhanced productivity to further strengthen our competitive edge in an increasingly competitive environment. At the same time, we have continued to invest in advancing our technologies. Our research and development (R&D) spending rose 42.1%, underscoring our long-term commitment to innovation as a core pillar of our business. Looking ahead, we believe our current strategy, combined with our focus on innovation, will continue to provide a solid foundation for sustainable growth and value creation, even in a macro environment shaped by both headwinds and tailwinds." First Half of Fiscal Year 2025 Financial Summary Total revenue was $5.26 million for the first half of fiscal year 2025, an increase of 13.2% from $4.65 million for the same period of last year. Gross profit was $1.47 million for the first half of fiscal year 2025, compared to $1.65 million for the same period of last year. Gross margin was 27.9% for the first half of fiscal year 2025, compared to 35.5% for the same period of last year. Net loss was $1.36 million for the first half of fiscal year 20...

WUXI, China, April 30, 2025 /PRNewswire/ -- Mingteng International Corporation Inc. (Nasdaq: MTEN) (the "Company" or "Mingteng International"), an automotive mold developer and supplier in China, today announced its financial results for the fiscal year ended December 31, 2024. Mr. Yingkai Xu, Chairman and Chief Executive Officer of Mingteng International, remarked, "In fiscal year 2024, we made several strategic decisions, including expanding our production capacity and increasing our workforce, to adapt to evolving market dynamics and rising competition. While these initiatives resulted in higher investments and operating expenses, we achieved solid revenue growth of 23.0%, underscoring the effectiveness of our business strategy and the strength of our long-standing relationships with major customers. Notably, our machining services have become a key growth driver due to prioritized resource allocation. This segment grew by an impressive 327.6% during this year, surpassing our mold repair business to become the second-largest revenue contributor, accounting for the 21.2% of total revenue in fiscal year 2024. As a result of scaling up our operations, our cost of revenues rose at a faster pace. However, we managed to maintain a healthy gross margin above 30%, despite increased costs and relatively stable selling prices. This demonstrates our ability to sustain profitability while building a strong business foundation for the future growth. Overall, we remained committed to our core strengths in technical expertise, service reputation, and product quality, even in the face of external challenges. The past year was a transformative for Mingteng International, marked by significant expansion, we believe these efforts have laid a robust foundation for long-term, sustainable growth. Backed by the dedication of our team and the successful execution of our strategic initiatives, we are confident in our ability to unlock further development opportunities and elevate our business to the next level with enhanced capabilities and infrastructure." Fiscal Year 2024 Financial Summary Total revenue was $10.12 million in fiscal year 2024, an increase of 23.0% from $8.23 million in the fiscal year 2023. Gross profit was 3.07 million in fiscal year 2024, compared to $3.32 million in fiscal year 2023. Gross margin was 30.3% in fiscal year 2024, compared to 40.4% in fiscal year...