Shenzhen Inovance Technology (300124) Q2 2026 earnings summary

Executive summary

• Achieved revenue of ¥24.68 billion, up 20.31% year-over-year; net profit attributable to shareholders was ¥2.81 billion, down 5.35% year-over-year.

• Core automation, robotics, and digital energy businesses saw robust growth, while new energy vehicle segment faced margin pressure.

• Gross margin declined slightly due to raw material cost increases and product mix changes.

• Significant R&D investment at ¥2.23 billion, with 8,149 R&D staff (28% of total employees).

Financial highlights

• Revenue: ¥24.68 billion (+20.31% YoY); net profit: ¥2.81 billion (-5.35% YoY); EPS: ¥1.04 (-5.45% YoY).

• Operating cash flow: ¥1.98 billion (-34.60% YoY); total assets: ¥74.15 billion (+3.98% from year-end).

• Gross margin: 29.74% (-0.49pp YoY); R&D expense ratio: 9.02%.

• Adjusted net profit (excluding non-recurring items): ¥2.76 billion (+3.15% YoY).

Outlook and guidance

• Expects continued growth in automation, robotics, and digital energy, leveraging AI and digitalization trends.

• New energy vehicle segment faces ongoing margin pressure but global expansion and product innovation are priorities.

• Company will maintain high R&D investment and global market expansion.