Shenzhen Hopewind Electric (603063) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue was RMB1.725bn, down 8.43% YoY; attributable net income fell 35.56% to RMB156.4m, while operating cash flow rebounded to RMB183.0m from an outflow a year earlier.

• Overseas revenue rose 163.17% YoY to RMB388.4m; engineering transmission revenue increased 25.74%, partly offsetting a 12.90% decline in new-energy control revenue.

Financial highlights

• Total profit was RMB181.6m, down 33.13% YoY; consolidated net income was RMB170.2m, down from RMB247.1m.

• Adjusted net income, excluding non-recurring items, was RMB124.4m, down 45.54% YoY; net non-recurring gains were RMB32.0m.

• Revenue declined 8.43% to RMB1.725bn; operating costs fell 10.17% to RMB1.072bn, while selling, administrative and R&D expenses increased.

• Operating cash flow was RMB183.0m versus negative RMB172.8m in H1 2025, mainly reflecting higher cash receipts from product sales and services.

Outlook and guidance

• Strategic priorities include focusing on core products, expanding applications and markets, accelerating product innovation, and deepening overseas business; no numerical financial guidance was stated.

• Storage solutions and overseas storage business are positioned for further growth, while hydrogen products continue to deepen their sales-market presence.