Leishen Energy Holding Co., Ltd.

What they do

Leishen Energy supplies equipment used in oil and gas fields, including machinery and related products, and delivers oil and gas engineering technical services. It also sells clean energy equipment, digitalization and integration equipment, and new energy products. The company operates through a group of Chinese and international subsidiaries, including Leishen Nanjing, Leishen Shandong, Xinjiang Breslin and LSE Energy America Inc.

Revenue drivers

• Oil and gas engineering technical services — Delivery of oil and gas engineering technical services is a reported revenue line, alongside equipment sales.
• Clean energy equipment — Sales of clean energy equipment is a reported product category, separate from traditional oil and gas equipment.
• Digitalization and integration equipment — Sales of digitalization and integration equipment is a reported product line within the company's equipment offerings.
• New energy — Sales of new energy is a reported revenue category, part of the company's diversification beyond oil and gas field machinery.

Recent performance

Revenue fell to $48.3 million in fiscal 2025 from $69.1 million in 2024 and $73.1 million in 2023. Net income dropped to $1.3 million in 2025 from $8.1 million in 2024 and $11.9 million in 2023. Diluted EPS declined to $0.08 in 2025 from $0.52 in 2024. Operating cash flow was negative $3.5 million in 2025, compared with positive $15.1 million in 2024. At 2025-09-30, total assets were $69.3 million, total liabilities $23.9 million and shareholder equity $45.4 million.

Strategy

The company reports sales across oil and gas equipment and services as well as clean energy, digitalization and integration equipment, and new energy. Its subsidiary list includes entities focused on green energy technology, hydrogen energy technology, and new materials, indicating diversification beyond conventional oil field machinery. No specific forward targets were provided in the excerpted material.

Risks

• Revenue and profit decline — Revenue fell from $73.1 million in 2023 to $48.3 million in 2025, and net income fell from $11.9 million to $1.3 million over the same period.
• Operating cash flow volatility — Operating cash flow swung from positive $15.1 million in 2024 to negative $3.5 million in 2025.
• Customer concentration — The filing references customer concentration risk with a named Customer A in the revenue context for fiscal 2025.
• Oil and gas industry exposure — As an oil and gas field machinery and equipment supplier, the company is tied to capital spending and demand conditions in the oil and gas sector.

Outlook

The provided excerpts do not include specific forward-looking guidance or management outlook statements. The most recent reported financials show a decline in revenue, net income and operating cash flow for fiscal 2025.