Microvast: Sell On Dismal Quarter And Poor Near-Term Prospects

Microvast reported disappointing Q4/2025 results, with sales coming in well below expectations and profitability impacted by sizeable impairment charges. Backlog declined to a new multi-year low. Given this issue, management's stated expectation for continued revenue growth in 2026 appears elusive. With customers delaying or outright canceling new BEV platform launches and disruptions in the Korean market not likely to abate anytime soon, the company's near-term prospects look bleak.