Ningbo Orient Wires & Cables (603606) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 5.80 billion, up 30.85% year-over-year, with net profit attributable to shareholders at RMB 565 million, up 19.41% year-over-year.

• Major growth in power engineering and equipment cables (+32.73%), submarine and high-voltage cables (+20.90%), and marine equipment and engineering O&M (+83.53%).

• Order backlog as of August 3, 2026, stood at RMB 17.93 billion, providing strong visibility for future growth.

Financial highlights

• Operating income: RMB 5.80 billion, up 30.85% year-over-year.

• Net profit attributable to shareholders: RMB 565 million, up 19.41% year-over-year.

• Basic and diluted EPS: RMB 0.69, up 18.97% year-over-year.

• Gross margin: 19.47% (calculated from disclosed data).

• Net cash flow from operating activities: -RMB 157 million (down from +RMB 714 million in H1 2025).

Outlook and guidance

• Management expects continued growth, supported by robust order backlog and ongoing delivery of major projects.

• Strategic focus on high-value submarine and high-voltage cables, and expansion in international and domestic markets.