Canny Elevator (002367) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 1.84 billion, down 0.87% year-over-year; net profit attributable to shareholders was RMB 95.95 million, down 46.65% year-over-year.

• Operating cash flow was negative RMB 95.41 million, a significant decline from the prior year.

• Gross margin declined by 4.81 percentage points to 24.35% due to intensified competition and rising raw material costs.

• The company maintained a stable order backlog of RMB 6.48 billion as of June 30, 2026.

Financial highlights

• Revenue: RMB 1,841.89 million (-0.87% YoY); net profit: RMB 95.95 million (-46.65% YoY).

• Operating cash flow: -RMB 95.41 million (down 195.96% YoY).

• Basic and diluted EPS: RMB 0.1203 (-46.63% YoY).

• Total assets: RMB 6.96 billion (-6.13% from year-end 2025); net assets: RMB 3.59 billion (-0.85%).

• Main business gross margin: 24.35% (-4.81ppt YoY); installation and maintenance margin: 25.51% (-4.00ppt YoY).

Outlook and guidance

• The company expects continued pressure from the real estate sector and raw material prices.

• Focus remains on expanding after-sales and overseas markets, optimizing product structure, and cost control.

• No interim dividend, bonus shares, or capital increase from reserves planned.