VOYAH Automotive Technology (7489) investor relations material

Executive summary

• Delivered 76,264 vehicles in H1 2026, up 35.9% year-over-year, with strong growth in premium NEV segments and aftermarket services.

• Revenue rose 42.4% to RMB18.16 billion, driven by higher deliveries and aftermarket growth.

• Net loss of RMB389 million, reversing from a net profit of RMB464 million in H1 2025, mainly due to raw material cost increases and higher R&D and SG&A expenses.

• Expanded overseas presence to 40 countries, with over 240 overseas sales outlets and notable progress in Europe, Middle East, and RHD markets.

• Continued product innovation, launching new models and enhancing intelligent driving and chassis technologies.

Financial highlights

• Vehicle sales revenue increased 36.2% to RMB16.47 billion; aftermarket revenue up 113.5% to RMB1.19 billion; technical services revenue surged 591.7% to RMB457 million.

• Gross profit rose 17.7% to RMB3.22 billion; gross margin declined to 17.7% from 21.4% due to higher lithium and chip costs.

• Operating loss of RMB526 million, compared to a profit of RMB571 million in H1 2025.

• R&D expenses surged 70.2% to RMB911 million, reflecting investment in new models and intelligent tech.

• Cash and cash equivalents at period end: RMB6.48 billion.

Outlook and guidance

• Focus on quality growth, efficiency, and profitability improvement in H2 2026, with emphasis on high-quality development and product competitiveness.

• Plans to ramp up new product launches, including VOYAH PASSION S and DREAM 9, expand overseas (Europe, Middle East, RHD markets), and enhance user experience and ultra-fast charging networks.

• Emphasis on sustainable development, brand enhancement, and operational excellence.