Universal Scientific Industrial (Shanghai) (601231) Q2 2026 earnings summary

Executive summary

• Achieved revenue of RMB 27.34 billion in H1 2026, up 0.45% year-over-year, with net profit attributable to shareholders of RMB 822 million, up 28.85% year-over-year.

• Cloud and storage product revenue surged 48.79% year-over-year, while automotive electronics and communications segments declined due to market and consolidation factors.

• Maintained global leadership in electronic manufacturing services, ranking 14th in the industry by revenue in 2025, and continued to receive top ESG and governance accolades.

Financial highlights

• Operating income reached RMB 939 million, up 25.08% year-over-year.

• Net profit attributable to shareholders was RMB 822 million, up 28.85% year-over-year.

• Basic and diluted EPS were RMB 0.35, up 20.69% year-over-year.

• Gross margin improved, with operating cash flow at -RMB 465 million due to inventory buildup and timing of receivables.

• Total assets at period-end were RMB 40.94 billion, with equity attributable to shareholders at RMB 22.40 billion.

Outlook and guidance

• Focus on AI, cloud, and storage, with continued investment in SiP modules and expansion in AI server and optical communication products.

• Plans to further enhance automation, digitalization, and ESG initiatives, aiming for five fully automated factories by 2028.

• Expects to benefit from global AI infrastructure investment and supply chain localization trends.