JST Group Corporation (6687) investor relations material

Executive summary

• H1 2026 revenue rose 17.4% YoY to RMB615.0 million; net profit was RMB106.7 million versus a RMB39.5 million loss in H1 2025.

• Adjusted net profit increased 257.3% to RMB185.0 million, excluding specified FX, investment fair-value, share-based payment, preferred-share and listing items.

Financial highlights

• Gross profit rose 25.0% to RMB470.1 million as cost of sales declined 1.8% to RMB144.9 million; gross margin was 76.4%, versus 71.8% YoY.

• Operating income increased to RMB59.3 million from RMB27.1 million; net profit included an RMB18.5 million income tax credit.

• Other losses were RMB64.9 million, mainly from RMB64.3 million in FX losses following RMB appreciation; prior-year other gains were RMB1.2 million.

• Profit attributable to equity owners was RMB101.4 million versus a RMB41.1 million loss; basic and diluted EPS were RMB0.23 versus a RMB0.23 loss per share.

• The RMB72.5 million preferred-share loss recorded in H1 2025 did not recur after preferred shares converted to ordinary shares upon the October 2025 listing.

Outlook and guidance

• Priorities include deepening ERP and vertical-industry coverage, expanding instant retail and cross-border capabilities, and developing a single-inventory global selling system.

• Indonesia and the Philippines were targeted for establishment within 2026, alongside exploration of additional international markets.

• AI agent Shuibao was in phased commercial rollout; quarterly token consumption exceeded Q4 2025 by more than 300%, with AI piloted in core ERP workflows.

• M&A exploration focuses on targets with overlapping merchant bases and complementary products; no specific financial guidance was stated.