Transwarp Technology (Shanghai) (688031) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was RMB 81.25m, up 26.24% YoY; net loss narrowed to RMB 56.00m from RMB 83.72m.

• Core business growth and expense controls supported the narrower loss; operating cash outflow also narrowed YoY.

Financial highlights

• Revenue reached RMB 81.25m versus RMB 64.36m YoY; operating costs were RMB 147.38m versus RMB 157.96m.

• Net loss was RMB 56.00m versus RMB 83.72m; attributable net loss was RMB 56.00m versus RMB 83.58m.

• Adjusted for non-recurring items, attributable net loss was RMB 61.24m versus RMB 87.85m.

• R&D expense was RMB 55.75m, down 8.21% YoY; R&D was 68.62% of revenue, 25.75 percentage points lower.

Key financial ratios and metrics

• Basic and diluted EPS were both -RMB 0.46, versus -RMB 0.69 YoY; weighted average ROE was -6.71%, versus -7.88%.

• Operating cash flow was negative RMB 59.32m, compared with negative RMB 88.73m YoY.

• Total assets were RMB 1,084.17m at quarter-end, down 7.97% from year-end; attributable equity was RMB 806.51m, down 6.49%.