Wus Printed Circuit (Kunshan) Co. (002463) investor relations material

Executive summary

• Revenue for H1 2026 reached ¥13.69 billion, up 61.17% year-over-year, driven by strong demand in data communications and AI-related computing scenarios.

• Net profit attributable to shareholders was ¥2.92 billion, up 73.72% year-over-year; basic EPS was ¥1.5191, up 73.53%.

• Gross margin for PCB business improved to 40.52%, up 4.06 percentage points year-over-year, with high-value product mix optimization.

• R&D investment surged 79.28% to ¥863 million, supporting 14 new invention patents and 9 utility model patents.

Financial highlights

• Operating cash flow was ¥1.15 billion, down 45.14% year-over-year due to increased procurement and expansion.

• Total assets at period-end were ¥37.66 billion, up 33.30% from year-end 2025; net assets attributable to shareholders were ¥28.25 billion, up 19.03%.

• Non-recurring gains totaled ¥128.84 million, mainly from the sale of a subsidiary and government grants.

• Capital expenditures for fixed and intangible assets reached ¥3.6 billion, up 159.46% year-over-year.

Outlook and guidance

• The company expects continued robust demand in data communications and AI server markets, with ongoing investment in high-end PCB capacity and technology upgrades.

• Management highlights macroeconomic volatility, supply chain risks, and geopolitical uncertainties as ongoing challenges.