GL-Carlink Technology Holding (2531) investor relations material

Executive summary

• H1 2026 revenue fell 20.27% YoY to RMB241.745m and results shifted to a RMB43.633m net loss from RMB19.034m profit; gross margin rose to 75.3% as software and services grew to 90.6% of revenue.

• Strategy focused on higher-margin software and value-added services, NEV maker and store customer expansion, and AI-enabled retail operations.

Financial highlights

• Revenue was RMB241.745m versus RMB303.197m; gross profit was RMB182.142m versus RMB210.161m.

• Net loss was RMB43.633m versus net profit of RMB19.034m; loss attributable to owners was RMB43.245m, and basic loss per share was RMB0.12 versus earnings per share of RMB0.05.

• Cost of sales decreased to RMB59.603m from RMB93.036m; distribution and selling expenses rose 2.6% to RMB179.0m.

• Other losses rose to RMB7.761m from RMB0.953m, mainly due to foreign-exchange losses; expected-credit-loss impairment increased to RMB14.572m from RMB4.596m.

• Operating cash outflow was RMB167.024m versus RMB50.300m; cash and cash equivalents ended at RMB125.822m, down from RMB316.766m at 31 December 2025.

Outlook and guidance

• H2 demand is expected to benefit from vehicle trade-in incentives, new model launches and peak sales season; rising NEV penetration is expected to unlock connected-vehicle data value.

• Priorities include expanding NEV maker and store customers, growing per-store multi-category sales, and rebuilding marketing-service revenue through pre-sales, after-sales and online channels.

• R&D plans focus on AI and data for retail operations, including staff training, knowledge extraction, store and personnel efficiency, and cost control.