Ningbo Deye Technology Group Co (605117) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 4.46 billion, up 73.77% year-over-year, driven by strong global demand for new energy products and favorable international policies supporting energy storage.

• Net profit attributable to shareholders was RMB 1.19 billion, a 68.37% increase year-over-year, with significant growth in energy storage inverter and battery sales in Europe, Middle East, and Southeast Asia.

• Operating cash flow surged to RMB 1.83 billion, reflecting robust order fulfillment and increased sales receipts.

Financial highlights

• Operating income: RMB 4.46 billion, up 73.77% year-over-year.

• Net profit attributable to shareholders: RMB 1.19 billion, up 68.37% year-over-year.

• Basic and diluted EPS: RMB 1.31, up from RMB 0.78 year-over-year.

• Operating cash flow: RMB 1.83 billion, up 284.10% year-over-year.

• Total assets at quarter-end: RMB 21.91 billion, up 10.04% from year-end 2025.

Outlook and guidance

• Global geopolitical shifts and energy shortages are expected to continue driving demand for new energy and storage products.

• Ongoing international subsidies and policy support are anticipated to sustain strong sales momentum, especially in overseas markets.