Sieyuan Electric (002028) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥10.80 billion, up 27.05% year-over-year, with net profit attributable to shareholders at ¥1.46 billion, up 13.23% year-over-year.

• Gross margin was 30.48%, and basic EPS was ¥1.87, both showing improvement over the prior year.

• Overseas revenue accounted for 29.49% of total, with significant growth in domestic and international markets.

• The company continued to invest in R&D and capacity expansion, with major projects in progress.

Financial highlights

• Operating income: ¥10.80 billion, up 27.05% year-over-year.

• Net profit attributable to shareholders: ¥1.46 billion, up 13.23% year-over-year.

• Operating cash flow: ¥227 million, a significant turnaround from negative ¥713 million last year.

• Gross margin: 30.48%; net margin: 13.54%.

• R&D expenses: ¥669 million, up 19.41% year-over-year.

Outlook and guidance

• Management expects continued growth driven by domestic infrastructure and overseas expansion.

• Ongoing investments in new energy, storage, and high-voltage equipment to support future growth.

• No interim dividend planned for H1 2026.