GoodWe Technologies (688390) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 54.07% YoY to RMB3.25bn; attributable net income increased 48.04% to RMB144.7m, despite total profit falling 78.30% to RMB18.7m.

• 9M revenue increased 53.34% YoY to RMB9.50bn, and attributable net income rose 431.48% to RMB431.1m.

Financial highlights

• Q3 adjusted net income, excluding non-recurring items, was RMB141.9m, up 196.37% YoY.

• 9M total profit was RMB324.9m, up 290.42% YoY; consolidated net income was RMB410.3m versus RMB116.0m.

• 9M operating profit was RMB326.7m versus RMB84.7m in the prior-year period.

• 9M operating cash flow was RMB773.7m, compared with an outflow of RMB32.7m a year earlier.

Segment performance

• Q3 sales of energy storage batteries and storage inverters increased substantially YoY; 9M household-system sales decreased substantially YoY.