Western Superconducting Technologies (688122) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 1.08 billion, up 0.62% year-over-year, while net profit attributable to shareholders dropped 74.21% to RMB 43.84 million.

• Significant decline in profitability due to product mix adjustments, lower sales prices, and reduced government subsidies.

Financial highlights

• Operating income: RMB 1.08 billion, up 0.62% year-over-year.

• Net profit attributable to shareholders: RMB 43.84 million, down 74.21% year-over-year.

• Total assets at quarter-end: RMB 15.11 billion, up 0.16% from year-end 2025.

• Net cash flow from operating activities: -RMB 310.24 million, a sharp decline from RMB 2.64 million in Q1 2025.

• Basic and diluted EPS: RMB 0.07, down 73.08% year-over-year.

Outlook and guidance

• Management attributes profit decline to product structure adjustments and lower sales prices, with expectations of continued impact if market conditions persist.