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NARI Technology (600406) investor relations material
NARI Technology H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 reached RMB 27.77 billion, up 14.54% year-over-year; net profit attributable to shareholders was RMB 3.07 billion, up 4.08% year-over-year.
Cash flow from operating activities decreased 78.95% year-over-year to RMB 591 million due to increased procurement payments.
The company maintained industry leadership in power automation, digital energy, low-carbon energy, and industrial internet, with strong domestic and international market expansion.
Major R&D achievements included 27 provincial-level or higher awards and 197 authorized patents.
Financial highlights
Operating income: RMB 27.77 billion (+14.54% YoY); net profit: RMB 3.07 billion (+4.08% YoY).
Gross margin for main business: 25.27%, down 1.11 percentage points year-over-year.
Basic and diluted EPS: RMB 0.38 (+4.35% YoY); ROE: 5.73%, down 0.14 percentage points.
Net assets attributable to shareholders: RMB 52.07 billion (-1.09% from year-end 2025); total assets: RMB 93.53 billion (-5.13%).
Non-recurring profit: RMB 147 million, mainly from government grants and financial product gains.
Outlook and guidance
The company aims to consolidate its leading position in core businesses and accelerate expansion in new energy storage, digital power, and international markets.
Focus on AI empowerment, digital transformation, and new product development to drive future growth.
Plans to maintain stable dividend payout and continue strategic investments in R&D and capacity.
- 2025 revenue up 14.53% and net profit up 8.79%, with strong cash flow and 60% payout ratio.600406
H2 2025 - Q1 2026 saw 7.5% revenue growth and higher net profit, but operating cash flow declined sharply.600406
Q1 2026 - Q3 revenue up 16.65% and net profit up 7.81% year-over-year, with strong cash flow growth.600406
Q3 2025 - Revenue up 19.54% and net profit up 8.82% year-over-year, with strong global expansion.600406
H1 2025 - Q3 2024 saw double-digit revenue and profit growth, but cash reserves declined.600406
Q3 2024 - Revenue and net profit grew over 8% year-over-year, with robust expansion in low-carbon and overseas sectors.600406
H1 2024 - Q1 2025 saw double-digit revenue and profit growth, plus key strategic acquisitions.600406
Q1 2025 - Revenue up 11.15% and net profit up 6.06%, with robust growth in smart grid and digital energy.600406
H2 2024
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