Ninestar (002180) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 4.56 billion, down 62.97% year-over-year due to changes in consolidation scope and disposal of subsidiaries.

• Net profit attributable to shareholders was RMB 87.29 million, a turnaround from a loss of RMB 311.77 million in H1 2025.

• Excluding non-recurring items, net profit was RMB 46.43 million, also a significant improvement year-over-year.

• The company completed a name and branding change in April 2026, with no impact on operations.

Financial highlights

• Operating cash flow was RMB 121.20 million, down 78.44% year-over-year.

• Basic and diluted EPS were RMB 0.0614, compared to -0.2193 in H1 2025.

• Gross margin for the printing segment was 24.73%, and for ICs 42.11%.

• Total assets at period end were RMB 15.98 billion, down 6.35% from year-end 2025.

• Net assets attributable to shareholders increased 1.32% to RMB 9.17 billion.

Outlook and guidance

• Management expects recovery in both revenue and profit for the full year, driven by overseas expansion, domestic market recovery, and AI product launches.

• The company will focus on high-value segments, product innovation, and global market penetration.