Zhejiang Galaxis Technology Group (2729) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 rose 45.1% year-over-year to RMB504.9 million, driven by strong growth in both domestic and overseas markets, especially large-scale multi-function systems and AMR deployments in China.

• Loss for the period narrowed by 14.7% to RMB73.3 million, with adjusted net loss (non-IFRS) at RMB25.6 million, despite higher expenses and a net foreign exchange loss.

• Gross profit increased 42.7% to RMB88.2 million, with gross margin stable at 17.5%.

• No interim dividend was declared for the period.

Financial highlights

• Revenue: RMB504.9 million (up 45.1% YoY); gross profit: RMB88.2 million (up 42.7% YoY); cost of sales: RMB416.7 million (up 45.6% YoY).

• Loss for the period: RMB73.3 million (down from RMB85.9 million YoY); loss per share: RMB0.20 (vs. RMB0.22 YoY).

• Adjusted net loss (non-IFRS): RMB25.6 million, reflecting add-backs for share-based payments, redemption liability changes, and listing expenses.

• Cash and cash equivalents surged to RMB641.3 million, mainly from IPO proceeds.

• Inventories decreased to RMB607.5 million due to project completion and revenue recognition.

Outlook and guidance

• Aggregate backlog of robots and systems at RMB2.2 billion, with 56 ongoing overseas projects valued at RMB710 million.

• Overseas business opportunities increased 61.5% during the period.

• Strategic focus on R&D, global expansion, new industry penetration, and ecosystem building.