Jiangxi Special Electric Motor (002176) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was ¥433.16 million, down 13.53% year-over-year, with a net loss attributable to shareholders of ¥179.62 million, a 316.92% decline from the same period last year.

• The significant loss was mainly due to changes in hedging relationships and separate accounting for futures and spot transactions.

Financial highlights

• Operating income decreased by ¥67.77 million year-over-year, with total profit dropping by ¥156.59 million, a 328.15% decline.

• Net cash flow from operating activities improved to ¥64.89 million from a negative ¥141.16 million last year.

• Basic and diluted EPS were both -0.1053, compared to -0.0252 last year.

• Total assets at quarter-end were ¥5.83 billion, down 2.23% from year-end 2025.

Outlook and guidance

• Increased R&D expenses by 50.63% year-over-year, indicating a focus on innovation despite financial headwinds.