Rigol Technologies (688337) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue rose 37.15% YoY to RMB486.84m, with growth from digital oscilloscopes and solutions; net income attributable to shareholders increased 129.08% to RMB37.15m.

• Results included RMB15.70m of non-recurring gains from wealth-management fair-value movements and investment income; excluding non-recurring items, net income was RMB23.05m.

• The interim financial statements were unaudited.

Financial highlights

• Total profit reached RMB41.44m vs RMB9.18m YoY; revenue was RMB486.84m vs RMB354.97m, and attributable net income was RMB37.15m vs RMB16.22m.

• Operating cash flow was negative RMB13.69m, compared with negative RMB13.68m in H1 2025.

• Investment income was RMB88.63m and fair-value changes were a loss of RMB72.93m; together these drove a non-recurring profit contribution of RMB15.70m.

• Inventory rose to RMB391.97m from RMB326.73m at FY2025-end; accounts receivable reached RMB206.02m from RMB194.27m.

Outlook and guidance

• Strategy prioritizes high-end instruments and integrated solutions for communications, new energy and semiconductors; AI-enabled testing, product development and adaptive testing are targeted growth areas.

• Active R&D projects target next-generation high-bandwidth, high-resolution oscilloscopes, microwave/RF instruments and expanded precision DC products.

• H-share proceeds are intended for R&D and product iteration, capacity and automation, strategic investment and acquisitions, global sales and service networks, and working capital.