Chenqi Technology (9680) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue rose 140.7% YoY to RMB4,035.2m; gross profit grew 156.3% to RMB500.9m, while net loss narrowed 45.2% to RMB68.5m.

• Mobility services orders reached 183.7m, average daily orders were 1,015.2k and GTV was RMB5,064.2m; ride-hailing growth and stronger third-party platform cooperation were key drivers.

Financial highlights

• Revenue was RMB4,035.2m versus RMB1,676.5m in H1 2025; cost of revenue increased 138.6% to RMB3,534.3m.

• Gross profit rose 156.3% to RMB500.9m; gross margin improved to 12.4% from 11.7%.

• Operating loss narrowed to RMB68.0m from RMB124.4m; net loss was RMB68.5m versus RMB124.9m, and adjusted net loss was RMB66.3m versus RMB121.4m.

• Basic and diluted loss per share improved to RMB0.35 from RMB0.64.

• Operating cash outflow was RMB124.0m versus RMB118.6m; cash and term deposits totaled RMB618.3m at June 30, 2026.

Outlook and guidance

• Strategy prioritizes ride-hailing geographic expansion and efficiency, refining the hybrid manned/Robotaxi model, international growth, brand awareness and talent development.

• Robotaxi plans target operations in 100 core cities over five years with partners and a fleet exceeding 10,000 vehicles.

• A billion-level investment plan targets a three-tier Robotaxi operations and maintenance network designed to support 100,000 vehicles annually; no specific revenue or earnings guidance was stated.