Kuang-Chi Technologies (002625) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB177,188,283.56, down 72.86% YoY; 9M revenue was RMB1,305,185,201.97, down 18.23%.

• Supplier delays postponed some product deliveries and materially affected period revenue; 9M attributable net income declined 47.33% YoY to RMB319,104,338.85.

Financial highlights

• Q3 attributable net income was RMB287,253.65, down 99.87% YoY; adjusted for non-recurring items, net loss was RMB8,219,317.52.

• 9M attributable net income was RMB319,104,338.85, down 47.33% YoY; adjusted net income was RMB296,968,457.38, down 49.70%.

• 9M operating profit was RMB366,189,739.66 versus RMB698,963,489.61 in the prior-year period; credit impairment losses were RMB175,744,254.54 versus RMB48,661,544.29.

• 9M income tax expense fell 54.24% YoY to RMB42,647,910.01, primarily reflecting lower profit.

Segment performance

• A subsidiary signed batch-production contracts for metamaterial products totaling RMB906,894,200 with three customers during the period.

• Metamaterial operations increased inventory 50.17% from year-end to RMB1,027,554,053.43 to prepare materials for delivery obligations.