GalaxyCore (688728) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 1.88 billion, up 23.4% year-over-year, driven by strong sales of high-megapixel chip products and expanded market share in 13MP+ segments.

• Net profit attributable to shareholders was RMB 1.41 million, reversing a net loss of RMB 51.73 million in Q1 2025.

• Cash flow from operating activities more than doubled to RMB 496 million, reflecting improved sales and collection efficiency.

Financial highlights

• Operating income rose to RMB 1.88 billion from RMB 1.52 billion year-over-year.

• Gross margin improved as high-value products increased in sales mix.

• R&D expenses decreased 28.5% to RMB 187 million, with R&D-to-revenue ratio dropping to 9.94% from 17.16%.

• Basic and diluted EPS were both RMB 0.00, up from -0.02 in Q1 2025.

• Total assets grew 2.43% to RMB 24.99 billion at quarter-end.

Outlook and guidance

• Continued focus on high-megapixel chip market expansion and new product launches.

• R&D spending expected to rise as new projects move into mass production.