Zhuhai Bojay Electronics (002975) Q1 2026 earnings summary

Executive summary

• Q1 revenue rose 127.21% YoY to ¥467.6m; net profit attributable to shareholders was ¥65.9m versus a loss of ¥20.7m a year earlier.

• Growth reflected AI computing-related testing, consumer electronics testing and MLCC equipment; AR/VR equipment continued mass production and delivery.

Financial highlights

• Revenue was ¥467.58m, up 127.21% YoY; operating costs totaled ¥402.94m versus ¥250.97m in the prior-year quarter.

• Net profit attributable to shareholders was ¥65.90m versus a ¥20.65m loss; adjusted for non-recurring items, net profit was ¥64.37m versus a ¥22.70m loss.

• Operating cash flow was ¥38.36m, down 13.47% YoY; basic and diluted EPS were ¥0.42 versus -¥0.14.

• Non-recurring gains totaled ¥1.54m, including ¥1.60m from wealth-management products and ¥0.36m in government grants, partly offset by other items.

Segment performance

• AI computing-related functional testing advanced; cooperation with N Customer deepened, with ICT and functional-testing expansion projects progressing and scaled mass-production deliveries achieved.

• AR/VR-related equipment continued mass production and delivery, supporting customers’ new product launches; VR/AR/XR/AI glasses broadened demand and application scenarios.

• Automotive camera and display assembly/testing lines continued delivery; customer coverage expanded across a product matrix spanning intelligent driving, smart cockpits and EVs.

• MLCC-related equipment revenue grew 141.13% YoY; equipment covered more than 50% of MLCC core-process value and sales expanded into Europe, the US, Japan and South Korea.