China Resources Microelectronics (688396) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 6.13 billion, up 17.44% year-over-year; net profit attributable to shareholders was RMB 722 million, up 113.23% year-over-year.

• Operating cash flow increased 95.13% year-over-year to RMB 1.39 billion.

• Semiconductor market upcycle and strong order book drove near-full capacity utilization and robust performance.

• Proposed interim dividend of RMB 0.56 per 10 shares, totaling RMB 74.38 million, representing 10.3% of net profit.

Financial highlights

• Operating income: RMB 6.13 billion (+17.44% YoY); net profit: RMB 722 million (+113.23% YoY).

• Operating cash flow: RMB 1.39 billion (+95.13% YoY).

• Basic and diluted EPS: RMB 0.5440 (+112.83% YoY).

• Gross margin improved, with cost controls and price adjustments supporting profitability.

• R&D investment: RMB 525 million, 8.57% of revenue.

Outlook and guidance

• Management expects continued benefit from global semiconductor upcycle, AI, and new energy demand.

• Will focus on high-value markets, product structure optimization, and strengthening competitive position.