Bethel Automotive Safety Systems (603596) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥6.27 billion, up 21.46% year-over-year, with net profit attributable to shareholders at ¥641 million, up 22.81%.

• Major acquisition of a 50.97% stake in Yubei Steering consolidated into results, strengthening product lines and customer base.

• EMB (electro-mechanical brake) achieved first mass production, making the company the world’s first to commercialize dry EMB and obtain ASIL-D safety certification.

• R&D and project reserves expanded, with 912 projects under development, up 87.65% year-over-year.

Financial highlights

• Operating income: ¥6.27 billion, up 21.46% year-over-year.

• Net profit attributable to shareholders: ¥641 million, up 22.81% year-over-year.

• Operating cash flow: ¥751.6 million, up 18.07% year-over-year.

• Total assets: ¥22.54 billion, up 30.49% from year-end 2025.

• Gross margin: 19.4% (calculated from disclosed cost and revenue).

Outlook and guidance

• Continued focus on technology leadership, operational excellence, and internationalization.

• Ongoing capacity expansion in both domestic and overseas bases to support new energy vehicle growth and global deliveries.

• EMB and chassis domain controller solutions to drive next-stage growth.