Ningbo Tuopu Group (601689) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 6.63 billion, up 14.92% year-over-year, while net profit attributable to shareholders declined 2.42% to RMB 551.8 million.

• Operating cash flow dropped 38.36% year-over-year, mainly due to increased cash outflows for goods and services.

Financial highlights

• Total revenue: RMB 6.63 billion, up 14.92% year-over-year.

• Net profit attributable to shareholders: RMB 551.8 million, down 2.42% year-over-year.

• Basic and diluted EPS: RMB 0.32, down 3.03% year-over-year.

• Gross margin pressure evident as operating costs rose faster than revenue.

• Net cash from operating activities: RMB 547.2 million, down 38.36% year-over-year.

Key financial ratios and metrics

• Weighted average ROE: 2.27%, down 0.58 percentage points year-over-year.

• Total assets: RMB 41.58 billion, down 5.36% from year-end 2025.

• Shareholders’ equity: RMB 24.59 billion, up 2.03% from year-end 2025.