Suzhou Novosense Microelectronics (688052) Q1 2026 earnings summary

Executive summary

• Q1 revenue rose 59.17% YoY to RMB 1.141bn; attributable net loss narrowed to RMB 35.74m from RMB 51.34m.

• Revenue growth was driven by recovering demand in broad energy markets, AI-related server power demand and steady expansion in automotive electronics.

Financial highlights

• Revenue was RMB 1.141bn, up 59.17% YoY; total operating costs were RMB 1.163bn versus RMB 782.61m.

• Attributable net loss was RMB 35.74m versus RMB 51.34m; net loss excluding non-recurring gains was RMB 54.77m versus RMB 64.36m.

• Operating loss was RMB 39.65m versus RMB 70.58m; total loss was RMB 39.74m versus RMB 70.63m.

• R&D spending increased 25.50% YoY to RMB 224.24m; R&D was 19.65% of revenue, down 5.27 percentage points.

Segment performance

• Broad energy demand recovered across solar, energy storage, digital power and industrial automation; AI-driven server power demand added growth opportunities.

• Automotive electronics demand continued to grow steadily, supporting increased volume of related products.