NARI Technology (600406) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 13.75% YoY to RMB43.88bn; attributable net income increased 1.16% to RMB4.91bn, while Q3 attributable net income fell 3.37% to RMB1.84bn.

• 9M operating cash flow was a RMB2.92bn outflow versus a RMB4.71bn inflow a year earlier, primarily due to faster payments to small and medium-sized suppliers.

Financial highlights

• Q3 revenue increased 12.41% YoY to RMB16.11bn; total profit fell 1.77% to RMB2.27bn.

• 9M total profit rose 2.07% YoY to RMB5.99bn; net income increased 1.14% to RMB5.20bn, including RMB4.91bn attributable to parent shareholders.

• 9M operating profit was RMB5.99bn versus RMB5.85bn a year earlier; operating costs increased to RMB38.18bn from RMB33.21bn.

• Adjusted for non-recurring items, 9M net income attributable to shareholders rose 1.43% YoY to RMB4.70bn; reported income was RMB4.91bn.

Key financial ratios and metrics

• Q3 basic and diluted EPS were RMB0.23, down 3.32% YoY; 9M EPS was RMB0.62, up 1.34%.

• Weighted average ROE was 3.47% for Q3, down 0.40 percentage points, and 9.20% for 9M, down 0.48 percentage points YoY.

• Total assets were RMB92.41bn at Sept. 30, down 6.27% from year-end 2025; parent shareholders’ equity was RMB52.57bn, down 0.14%.