Cambricon Technologies (688256) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 104.47% YoY to RMB 3.531bn; 9M revenue increased 106.76% to RMB 9.526bn, driven by market expansion and AI application rollout.

• Q3 net income attributable to shareholders grew 147.74% YoY to RMB 1.404bn; 9M net income reached RMB 3.715bn, up 131.49%.

Financial highlights

• Q3 total profit was RMB 1.404bn, up 148.08% YoY; 9M total profit was RMB 3.706bn, up 131.04%.

• 9M adjusted net income, excluding non-recurring items, was RMB 3.523bn, up 148.30% YoY.

• Basic EPS was RMB 2.23 for Q3, up 145.05% YoY, and RMB 5.91 for 9M, up 129.07%.

• Operating cash flow was negative RMB 83.7m in Q3 and positive RMB 227.6m for 9M; 9M change was attributed to higher sales collections YoY.

Key financial ratios and metrics

• Q3 weighted average ROE was 9.79%, up 1.76 percentage points YoY; 9M ROE was 27.73%, up 2.52 points.

• R&D expense was RMB 522.6m in Q3, up 73.66% YoY and 14.80% of revenue; 9M R&D was RMB 1.225bn, up 45.35% and 12.86% of revenue.

• Total assets were RMB 22.364bn at quarter-end, up 66.43% from year-end 2025; shareholder equity was RMB 15.124bn, up 27.78%.