China Greatwall Technology Group (000066) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was RMB 5.60bn, up 42.57% YoY; attributable net loss was RMB 69.38m and adjusted attributable net loss was RMB 84.72m.

• In 9M 2026, revenue rose 31.71% YoY to RMB 13.56bn; attributable net profit reached RMB 242.67m, supported in part by a substantial urban-renewal property gain.

• The 9M report was unaudited.

Financial highlights

• 9M operating profit was RMB 259.89m versus RMB 59.60m YoY; profit before tax was RMB 244.68m versus RMB 42.68m.

• 9M net profit was RMB 251.77m versus RMB 24.10m; attributable net profit was RMB 242.67m versus RMB 16.07m.

• Excluding non-recurring items, 9M attributable net loss was RMB 400.73m; non-recurring gains totaled RMB 643.40m.

• 9M operating revenue and cost both increased, by 31.71% and 31.53%, respectively, as core business revenue expanded.

Outlook and guidance

• Management cited continuing release of industry demand and plans to deepen core businesses, optimize the business mix and product portfolio, and increase R&D to strengthen competitiveness.

• Inventory rose 69.71% YoY from year-end as subsidiaries built stock to secure order deliveries.