Buyang International (2457) H1 2026 earnings summary

Executive summary

• H1 2026 revenue rose 14.1% YoY to RMB197.1m, but gross profit fell 16.1% and results swung from RMB5.9m profit to RMB1.0m net loss.

• More than 504,300 wheels were sold and 166 new products were developed during the period.

Financial highlights

• Revenue increased to RMB197.1m from RMB172.7m; wheel sales were RMB188.9m and other-product sales were RMB8.2m.

• Gross profit fell to RMB17.8m from RMB21.2m; operating result swung to a RMB4.7m loss from RMB4.8m profit.

• Loss before tax was RMB2.9m; a RMB1.9m income tax credit contributed to a RMB1.0m net loss, versus RMB5.9m net profit in H1 2025.

• Operating cash outflow was RMB31.7m versus RMB9.4m inflow in H1 2025; cash and cash equivalents were RMB89.3m at period-end.

Outlook and guidance

• H2 priorities: enter new markets, acquire new customers and maintain communication with existing customers; no numerical guidance was stated.

• Expansion plans continue amid industry uncertainty and intense competition; management expressed confidence in future growth.