New Gonow RV shares surge then drop after profit decline

Shares of motorhome manufacturer New Gonow Recreational Vehicle (00805) surged 44% in early trading before falling over 12% by afternoon. The company reported a 28.9% drop in net profit for 2025 to 30.82 million yuan, with revenue of 871 million yuan (+0.8%). The decline was attributed to an unexpected downturn in the RV market, the launch of a new hybrid off-road model, and increased selling expenses from expanding company-owned stores. The annual report was delayed nearly a month due to ongoing audits, leading to a trading suspension from April 1.