Crealights Technology (1191) investor relations material

Executive summary

• Revenue rose 14.4% year-over-year to RMB798.5 million, driven by higher sales of high-speed optical modules, especially 800G products, amid strong AI data center demand.

• Gross profit increased to RMB44.5 million, but gross margin declined slightly to 5.6% due to capacity constraints and higher costs.

• Net loss widened to RMB118.3 million from RMB34.9 million year-over-year, mainly due to increased operating expenses, share-based payments, and listing expenses.

• Adjusted net loss (non-IFRS/excluding share-based payments and listing expenses) was RMB75.7 million, up from RMB29.8 million in the prior year.

• Major business developments included a three-year JDM agreement with a major U.S. provider, industry awards, strategic partnerships, mass shipment of 800G SiPh modules, and H Share listing.

Financial highlights

• Revenue: RMB798.5 million (up 14.4% YoY); Gross profit: RMB44.5 million (up 4.2% YoY).

• Gross margin: 5.6% (down from 6.1% YoY); Net loss: RMB118.3 million (vs. RMB34.9 million YoY).

• Adjusted net loss: RMB75.7 million (vs. RMB29.8 million YoY).

• Cash and cash equivalents: RMB1,688.8 million as of June 30, 2026 (up from RMB334.0 million at year-end 2025).

• Basic and diluted loss per share: RMB1.55 (vs. RMB0.51 prior year).

Outlook and guidance

• Plans to expand SiPh and optoelectronic co-packaging capacity and commence shipment of 1.6T optical modules in H2 2026.

• Focus on deepening domestic and overseas customer relationships, especially through JDM and new product development.

• Aims to improve gross margin through capacity expansion, process optimization, and customer mix enhancement.

• Intends to leverage increased funding post-listing to accelerate capacity expansion and R&D.