Shandong Hi-Speed Holdings Group (412) H1 2026 earnings summary

Executive summary

• Revenue increased to RMB2,638 million for H1 2026, up 5.4% year-over-year, but gross profit declined 20.2% to RMB962 million due to higher costs.

• Net loss for the period was RMB206 million, compared to a profit of RMB476 million in H1 2025, mainly due to lower fair value gains and increased impairment losses.

• Loss attributable to owners was RMB565 million, with basic and diluted loss per share of RMB9.39 cents.

• Total assets reached RMB68.6 billion, with strategic emerging industries accounting for 77.7% of assets.

Financial highlights

• Revenue: RMB2,638 million (up from RMB2,503 million year-over-year).

• Gross profit: RMB962 million (down from RMB1,205 million year-over-year).

• Net loss: RMB206 million (vs. profit of RMB476 million year-over-year).

• Fair value gains on financial assets: RMB64 million (down from RMB539 million year-over-year).

• Finance costs: RMB799 million (down from RMB938 million year-over-year).

• Cash and cash equivalents: RMB7,439 million (up from RMB5,221 million at year-end 2025).

Outlook and guidance

• The group expects continued growth in the new energy sector and computing infrastructure, focusing on quality and efficiency over scale.

• Plans to leverage AI industrialization and energy transition, deepening electricity-computing synergy.

• Prudent financial management and healthy liquidity position to support future operations.