Beijing SinoHytec (688339) Q2 2026 earnings summary

Executive summary

• Focused on fuel cell system R&D and commercialization, with strategic expansion into energy storage to build a comprehensive hydrogen-energy ecosystem.

• Maintains strong partnerships with major commercial vehicle manufacturers and has delivered fuel cell systems for diverse applications.

• Storage subsidiary delivered energy storage systems, marking a step toward diversified revenue streams.

Financial highlights

• Revenue for H1 2026 was ¥73.94 million, up 2.8% year-over-year.

• Net loss attributable to shareholders was ¥104.2 million, a reduction of ¥59.2 million from H1 2025.

• Gross margin improved to 21.73%, up 47.16 percentage points year-over-year.

• Operating cash flow was -¥12.73 million, a significant improvement from -¥34.55 million in H1 2025.

• R&D expenses decreased 37.39% year-over-year, with R&D investment at 19.07% of revenue.

Outlook and guidance

• Industry remains in early commercialization, with market demand and policy support as key uncertainties.

• Company expects continued pressure on profitability due to ongoing R&D and capacity investments.

• Strategic focus on technology upgrades, cost reduction, and international market expansion.