China XD Electric Co (601179) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥12.21 billion, up 8.07% year-over-year; net profit attributable to shareholders was ¥688 million, up 15.03% year-over-year.

• Gross margin improved due to higher sales and better cost control; total profit rose 32.97% year-over-year.

• The company maintained industry leadership in high-voltage, ultra-high-voltage, and smart grid equipment, with significant breakthroughs in R&D and international market expansion.

• Cash flow from operations was negative, mainly due to increased payments to suppliers to stabilize the supply chain.

Financial highlights

• Operating income: ¥12.21 billion, up 8.07% year-over-year.

• Net profit attributable to shareholders: ¥688 million, up 15.03% year-over-year.

• Total assets: ¥48.75 billion; net assets attributable to shareholders: ¥23.43 billion.

• Basic and diluted EPS: ¥0.1342, up 15% year-over-year.

• Cash flow from operating activities: -¥297 million, down from -¥29 million year-over-year.

Outlook and guidance

• The company expects continued growth driven by robust domestic and global demand for power equipment, ongoing policy support for grid investment, and expansion in overseas markets.

• Focus remains on R&D, digital transformation, and internationalization to sustain high-quality growth.