MeiG Smart Technology (002881) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was ¥927.59 million, down 6.97% year-over-year, while net profit attributable to shareholders rose 0.76% to ¥46.65 million.

• Excluding non-recurring items, net profit increased 5.95% year-over-year.

• The company completed an H-share listing in Hong Kong, raising significant capital.

Financial highlights

• Operating cash flow was negative at -¥191.76 million, a sharp decline from -¥66.89 million a year ago.

• Total assets increased 48.59% to ¥4.41 billion compared to year-end 2025.

• Shareholders’ equity rose 60.13% to ¥2.73 billion.

• Basic and diluted EPS were both ¥0.18, unchanged year-over-year.

• Gross margin and operating cost details indicate higher raw material inventory and increased management expenses.

Outlook and guidance

• Strategic inventory buildup of storage chips to support future operations.

• Increased prepayments for long-term assets and higher contract liabilities signal anticipated business growth.