Huaming Power Equipment (002270) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 10.50% YoY to ¥2.006bn; net income attributable to shareholders increased 6.45% to ¥618.47m.

• Profit growth reflected higher power-equipment sales, partly offset by ¥62.05m in share-based compensation expense and an ~¥20.14m YoY increase in net foreign-exchange losses.

Financial highlights

• Q3 revenue was ¥724.82m, up 4.43% YoY; attributable net income was ¥228.63m, up 7.59%, and adjusted attributable net income was ¥228.18m, up 11.29%.

• 9M adjusted attributable net income was ¥595.31m, up 5.11% YoY; excluding share-based payment expense, attributable net income was ¥663m, up 11.73%.

• 9M adjusted attributable net income excluding share-based payment expense was ¥640m, up 10.55% YoY.

• 9M operating cash flow increased 52.70% YoY to ¥549.96m.

Outlook and guidance

• Globalization strategy includes a proposed H-share listing on the Hong Kong Stock Exchange; the listing application was submitted on March 6, 2026.