Ecovacs Robotics (603486) Q1 2026 earnings summary

Executive summary

• Revenue increased by 27.06% year-over-year, driven by strong growth in both domestic and international markets for key brands.

• Net profit attributable to shareholders decreased by 14.73% year-over-year, mainly due to lower non-recurring investment gains and higher exchange losses.

• Operating cash flow dropped 78.60% year-over-year, impacted by lower cash receipts from sales and higher cash outflows for purchases and services.

Financial highlights

• Revenue for Q1 2026 was RMB 4.90 billion, up from RMB 3.86 billion in Q1 2025.

• Net profit attributable to shareholders was RMB 404.77 million, down from RMB 474.68 million year-over-year.

• Basic EPS was RMB 0.71, a 15.48% decrease year-over-year.

• Total assets at quarter-end were RMB 18.04 billion, up 3.51% from year-end 2025.

• Owner's equity attributable to shareholders rose 3.91% to RMB 9.40 billion.

Outlook and guidance

• Revenue growth attributed to robust performance of core brands in both domestic and overseas markets.

• Profitability pressured by reduced non-recurring gains and increased exchange losses.