Nuobikan Artificial Intelligence Technology (Chengdu) (2635) H1 2026 earnings summary

Executive summary

• H1 2026 revenue rose 32.1% YoY to RMB306.0m; gross profit increased 85.4% to RMB168.3m and profit for the period rose 33.2% to RMB53.4m.

• Growth was led by urban management and energy; gross margin improved on a higher mix of high-margin products, while R&D investment and capex increased and operating cash flow declined to RMB27.0m.

Financial highlights

• Revenue was RMB306.0m versus RMB231.6m; cost of sales fell to RMB137.8m from RMB140.8m, lifting gross profit to RMB168.3m from RMB90.8m.

• Profit before tax rose to RMB55.9m from RMB44.3m; profit for the period was RMB53.4m versus RMB40.1m, and basic and diluted EPS increased to RMB0.14 from RMB0.12.

• Selling and distribution expenses rose to RMB18.4m from RMB6.5m, and R&D expenses to RMB60.2m from RMB22.7m; income tax expense declined to RMB2.5m from RMB4.3m.

• Other expenses were RMB9.4m, primarily from exchange losses; net impairment losses on financial and contract assets increased to RMB15.0m from RMB10.2m, mainly reflecting higher trade receivables.

Outlook and guidance

• Strategy centers on the NBK-INTARI AI platform, deepening transport infrastructure operation and maintenance and safety monitoring, and expanding into energy and urban governance.

• Growth plans emphasize technology development, industry-scenario deployment, and broader adoption of AI solutions; no numerical financial guidance was stated.

• Remaining Global Offering proceeds are expected to be fully utilized by 31 December 2027, subject to conditions; shortfalls may be funded internally or through bank borrowings.