Transwarp Technology (Shanghai) (688031) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB 95.5m, up 31.62% YoY; 9M revenue reached RMB 269.1m, up 19.57% YoY. 9M net loss narrowed to RMB 154.9m from RMB 213.2m.

• Customer digital transformation and demand for underlying AI data supported growth in software products and related business.

Financial highlights

• Q3 net loss was RMB 42.1m; loss excluding non-recurring items was RMB 52.8m. 9M net loss was RMB 154.9m; adjusted loss was RMB 196.2m.

• Q3 R&D investment was RMB 55.1m, down 8.47% YoY; 9M R&D investment was RMB 171.5m, down 6.41% YoY.

• 9M non-recurring gains totaled RMB 41.2m, including government subsidies and bank wealth-management income.

Key financial ratios and metrics

• Basic and diluted EPS were both -RMB 0.35 for Q3 and -RMB 1.28 for 9M; 9M EPS was -RMB 1.76 in the prior-year period.

• Weighted average return on equity was -5.78% for Q3 and -19.74% for 9M. R&D investment was 57.67% of Q3 revenue and 63.73% of 9M revenue.

• At September 30, total assets were RMB 1.642bn and shareholders’ equity was RMB 1.251bn, up 39.42% and 45.06%, respectively, from year-end 2025.