Shenzhen Kinwong Electronic (603228) Q1 2026 earnings summary

Executive summary

• Revenue increased by 16.41% year-over-year to RMB 3.89 billion, but net profit attributable to shareholders fell 28.37% to RMB 232.69 million.

• Operating cash flow dropped 51.97% year-over-year, reflecting higher cash outflows for inventory and raw materials.

• Profitability was pressured by rising raw material costs, RMB appreciation against the USD, and reduced government subsidies.

Financial highlights

• Total revenue: RMB 3.89 billion, up 16.41% year-over-year.

• Net profit attributable to shareholders: RMB 232.69 million, down 28.37% year-over-year.

• Operating cash flow: RMB 239.99 million, down 51.97% year-over-year.

• Basic and diluted EPS: RMB 0.24, down 38.46% year-over-year.

• Total assets at quarter-end: RMB 25.38 billion, up 6.98% from year-end 2025.

Outlook and guidance

• Management attributes profit decline to higher raw material prices, currency losses, and lower subsidies.

• No explicit forward-looking guidance provided, but cost pressures and currency volatility are highlighted as ongoing risks.