Fibocom Wireless Inc (300638) Q1 2026 earnings summary

Executive summary

• Q1 revenue fell 9.56% YoY to RMB1.678bn; net profit attributable to owners dropped 91.79% to RMB9.666m.

• Operating cash outflow widened to RMB1.044bn, mainly from higher cash paid for raw material purchases.

Financial highlights

• Operating profit was RMB6.602m versus RMB124.145m YoY; net profit was RMB13.883m versus RMB120.560m.

• Net profit attributable to owners excluding extraordinary gains and losses was RMB1.117m, down 99.03% YoY.

• Basic and diluted EPS were RMB0.0108, versus RMB0.1549 and RMB0.1543, respectively, in the prior-year quarter.

• R&D costs were RMB123.689m, down from RMB132.801m YoY; finance expenses rose to RMB18.498m from RMB0.678m, primarily due to increased exchange losses.

Key financial ratios and metrics

• Weighted average return on equity was 0.15%, down 3.05 percentage points YoY from 3.20%.

• Total assets were RMB10.057bn, up 3.80% from year-end; equity attributable to owners was RMB6.247bn, down 0.20%.

• Inventories rose 65.01% to RMB2.224bn, while prepayments increased to RMB336.051m from RMB21.423m, reflecting raw material stockpiling and higher material prepayments.