Shanghai Longcheer Technology (603341) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was RMB7.564bn, down 19.35% YoY; net profit attributable to shareholders was RMB15.41m, down 90.00%, while adjusted for non-recurring items the result was a RMB151.06m loss.

• Weaker consumer-electronics demand, higher costs and expenses from investment in AI PC and automotive electronics, and higher FX-related finance costs pressured results.

• Financial statements were unaudited and prepared under Chinese Accounting Standards for Business Enterprises.

Financial highlights

• Revenue was RMB7.564bn versus RMB9.378bn in Q1 2025; total operating costs were RMB7.783bn versus RMB9.373bn.

• Operating profit was a RMB1.20m loss versus RMB167.59m profit; profit before tax was RMB0.45m versus RMB163.75m.

• Net profit was RMB9.30m versus RMB151.02m; attributable net profit was RMB15.41m versus RMB154.14m.

• Net cash from operating activities fell 67.44% YoY to RMB219.59m; quarter-end cash and cash equivalents were RMB4.740bn versus RMB6.365bn a year earlier.

Segment performance

• Smartphone revenue was RMB5.205bn, down 22.78% YoY; shipments were adjusted downward as memory-chip and other raw-material prices rose, while cost-reduction and product-iteration initiatives continued.

• Tablet revenue was RMB807m, down 15.16% YoY, primarily due to project-delivery timing and lower shipments.

• AIoT revenue was RMB1.423bn, up 1.33% YoY; developments included medical and health wearables, smart eyewear, AI PC customer wins and automotive-electronics design wins.