Ningbo Orient Wires & Cables (603606) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB 4.301bn, up 40.27% YoY; attributable net income was RMB 478.8m, up 8.56%.

• 9M revenue reached RMB 10.100bn, up 34.70%; attributable net income was RMB 1.044bn, up 14.18%.

• Growth reflected higher revenue across power engineering and cable, subsea/high-voltage cable, and marine equipment and engineering services.

Financial highlights

• 9M operating profit was RMB 1.243bn vs. RMB 1.059bn YoY; profit before tax was RMB 1.225bn vs. RMB 1.056bn.

• 9M adjusted for non-recurring items, attributable net income was RMB 1.037bn, up 14.96% YoY; reported attributable net income was RMB 1.044bn.

• Q3 adjusted for non-recurring items, attributable net income was RMB 477.6m, up 8.64% YoY; reported amount was RMB 478.8m, up 8.56%.

• 9M non-recurring gains net of tax were RMB 6.57m.

Outlook and guidance

• Backlog was RMB 15.942bn as of Oct. 26, 2026: power engineering and equipment cable RMB 5.546bn; subsea/high-voltage cable RMB 7.926bn; marine equipment and services RMB 2.470bn.

• Backlog execution was expected to support stable development through 2026 and 2027.