Black Sesame International Holding (2533) investor relations material

Executive summary

• Revenue surged 81.3% year-over-year to RMB458.5 million, driven by strong growth in driving assistance and embodied AI businesses.

• Gross profit rose 261.9% to RMB226.9 million, with gross margin improving from 24.8% to 49.5% due to higher-margin product mix.

• Net loss widened slightly to RMB770.3 million, mainly due to increased R&D investment.

• Adjusted net loss (non-IFRS) was RMB643.2 million, up 17.2% year-over-year.

• Over 6 million chips shipped in H1 2026, with significant progress in both automotive and robotics segments.

Financial highlights

• Revenue: RMB458.5 million (+81.3% YoY); gross profit: RMB226.9 million (+261.9% YoY).

• Gross margin: 49.5% (up from 24.8% YoY); net loss: RMB770.3 million (vs. RMB762.4 million YoY).

• Adjusted net loss: RMB643.2 million (vs. RMB548.7 million YoY).

• R&D expenses: RMB859.7 million (+39.1% YoY), reflecting continued investment in AI and chip development.

• Cash and cash equivalents: RMB1,138.5 million as of June 30, 2026.

Outlook and guidance

• Focus on scaling intelligent vehicle and robotics businesses, with continued investment in on-device AI inference.

• Plans to accelerate mass production of A2000 and C1200 chips, expand robotics solutions, and deepen integration with Eeasy Tech.

• Emphasis on product scaling, technological iteration, and business model innovation across core markets.

• Continued R&D in next-generation chips and core IP, with emphasis on high-bandwidth interconnect and data compression.

• Management expects to leverage multi-business synergies and open ecosystem strategy for long-term growth.