Huaqin (603296) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue reached RMB 166.01bn, up 28.81% YoY; net income attributable to shareholders was RMB 4.32bn, up 39.53%.

• Q3 revenue was RMB 72.29bn, up 60.86% YoY; attributable net income was RMB 1.32bn, up 9.43%.

Financial highlights

• 9M operating profit was RMB 5.02bn, up 45.50% YoY; total profit was RMB 5.02bn, versus RMB 3.45bn in the prior-year period.

• 9M adjusted for non-recurring items, attributable net income was RMB 2.86bn, up 15.48% YoY; Q3 adjusted attributable net income was RMB 1.19bn, up 22.39%.

• 9M net income was RMB 4.52bn versus RMB 3.12bn YoY; operating costs totaled RMB 162.24bn, including R&D expense of RMB 5.66bn.

• 9M non-recurring gains net of tax and minority interests totaled RMB 1.46bn, including RMB 384.04m in government grants and RMB 1.38bn in financial-asset fair-value and disposal gains.

Segment performance

• 9M Computing and Data revenue was RMB 82.71bn, up 39.0% YoY; Mobile Terminal revenue was RMB 68.78bn, up 15.6%.

• 9M AIoT revenue was RMB 9.20bn, up 68.4% YoY; Innovation revenue was RMB 4.12bn, up 119.3%.

• Q3 Data business revenue was RMB 22.46bn, up 228% YoY, including RMB 6.19bn from supernode products.