Zhongmiao Holdings Qingdao (1471) investor relations material

Executive summary

• H1 2026 revenue rose 56.5% YoY to RMB177.7m and profit for the period rose 87.4% to RMB47.0m, reflecting steady insurance agency activity and acquired banking technology revenue.

• Operating cash flow reached RMB27.7m, up 287.2% YoY, while gross margin improved to 45.1% from 37.1%.

Financial highlights

• Revenue was RMB177.710m versus RMB113.580m; gross profit rose 90.4% to RMB80.203m, and operating profit was RMB53.739m versus RMB30.709m.

• Profit attributable to equity shareholders was RMB36.775m versus RMB25.063m; basic and diluted EPS were RMB0.26 versus RMB0.18.

• Profit before tax was RMB54.438m versus RMB30.697m, and income tax was RMB7.404m versus RMB5.598m.

• R&D costs were RMB5.5m versus RMB4.7m; G&A was RMB17.7m versus RMB8.1m, and sales and marketing costs were RMB4.4m versus RMB2.8m.

Outlook and guidance

• Priorities include expanding niche insurance scenarios and channels, developing customized products, and deploying AI agents to improve service quality and efficiency.

• Banking technology plans focus on ITAI software integration with commercial banks and localized HarmonyOS- and Kylin-based handheld terminals.

• Plans include scaling warehouse and truck risk-control deployments and launching an intelligent fire-inspection robot in H2 2026.

• The Zhimiao Pei property-loss claims platform is in development; Zhonghui Bao is planned for upgrades including voice interaction and age-friendly services.

• Cash-warehousing plans combine localized ITAI software and hardware with AI vision, RMB serial-number analytics and inspection robots.