Mininglamp Technology (2718) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue rose 18.0% YoY to RMB759.8m; net loss narrowed 68.5% to RMB64.2m, largely as prior-year fair-value losses on preference shares, warrants and convertible notes fell away.

• Strategic shift toward Agentic Services drove rapid growth in AI-led marketing, while investment in R&D rose 52.3% to RMB229.1m.

Financial highlights

• Revenue was RMB759.8m, up 18.0% YoY; gross profit increased 8.3% to RMB390.0m.

• Operating loss was RMB63.9m versus operating profit of RMB6.1m; net loss was RMB64.2m versus RMB203.9m.

• Adjusted operating loss was RMB59.0m versus adjusted operating profit of RMB26.9m; adjusted net loss was RMB59.3m versus adjusted net profit of RMB24.9m.

• R&D expense rose 52.3% to RMB229.1m; selling and marketing expense rose 25.7% to RMB93.3m, while administrative expense fell 3.4% to RMB113.6m.

Outlook and guidance

• Strategy prioritizes Agent standardization, automated decision-making, edge-side AI and enterprise adoption of controllable, on-premises Agentic AI; no numerical earnings guidance was stated.

• RMB450.0m of unused IPO proceeds was reallocated to strategic investments and M&A; remaining proceeds were expected to be fully used by 30 June 2027.