Shanghai Sunmi Technology Co (6810) H1 2026 earnings summary

Executive summary

• Maintained a leading position in the global Business IoT market, deploying integrated solutions in over 200 countries and regions.

• Introduced "IoT + AI + RWA" strategy, focusing on edge computing, AI agent capabilities, and trusted data for commercial digitalization.

• Cumulative active device base reached approximately 20 million units, with over 6 million monthly active smart devices.

• Revenue grew 25.8% year-over-year to RMB1,762.0 million for H1 2026, driven by strong global demand for smart devices and BIoT platform services.

• Overseas revenue accounted for more than 80% of total revenue in H1 2026, reflecting successful international expansion.

Financial highlights

• Revenue rose 25.8% year-over-year to RMB1,762.0 million for H1 2026.

• Gross profit increased 26.4% to RMB565.8 million; gross margin stable at 32.1%.

• Net loss of RMB70.0 million, compared to a profit of RMB15.9 million in H1 2025, mainly due to RMB49.8 million in listing expenses and RMB83.5 million in foreign exchange losses.

• Adjusted net loss (non-IFRS) was RMB11.9 million, down from a profit of RMB50.6 million in H1 2025.

• Cash and cash equivalents increased to RMB1,994.5 million as of June 30, 2026.

Outlook and guidance

• Plans to continue investing in R&D and AI technologies across device, OS, PaaS, and big data layers to enhance product competitiveness.

• Will focus on global key accounts, deepen service stickiness, and pursue strategic collaborations and acquisitions to drive international expansion.

• Intends to enhance localized sales, operations, and service teams in key regions.