Ningbo Joyson Electronic (600699) Q2 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 was RMB28.1 billion, down 7.4% year-over-year, mainly due to declines in China and North America and the disposal of a subsidiary's business.

• Net profit attributable to owners rose 4.4% year-over-year to RMB739 million, supported by cost controls and efficiency measures.

• Gross profit margin remained stable at 17.7% despite revenue headwinds and higher raw material costs.

• The company secured new design-wins with an estimated order value of RMB44.9 billion and ranked 29th globally among automotive parts suppliers, up 8 places.

Financial highlights

• Revenue: RMB28,091 million (down 7.4% year-over-year).

• Gross profit: RMB4,982 million (down 9.6% year-over-year).

• Net profit: RMB868 million (down 4.5% year-over-year); profit attributable to owners: RMB739 million (up 4.4%).

• Basic EPS from continuing operations: RMB0.48 (down 4.6% year-over-year).

• Net operating cash flow: RMB1,934 million (up from RMB1,906 million year-over-year).

• Gearing ratio increased to 1.2 from 1.0 at year-end 2025.

Outlook and guidance

• Overseas revenue and profitability expected to improve in H2 2026, driven by European market recovery and Chinese automaker expansion.

• Continued focus on cost control, operational efficiency, and leveraging global footprint for growth.

• Ongoing investment in R&D for intelligent driving, cockpit, and E-mobility solutions.