Energy Transition & Power Demand▲2
Bofei Electric's first-half revenue grows over 30%, net profit up 67% after excluding share-based payments
Bofei Electric disclosed its 2026 semi-annual report. In the first half, it achieved operating revenue of 263 million yuan, up 33.85% year on year, while net profit attributable to the parent company was 1.03 million yuan, down 87.95% year on year. After excluding share-based payment expenses of over 19 million yuan, the company's actual net profit was approximately 16.56 million yuan, a year-on-year increase of 67.12%. Revenue from the insulation system integration business grew 470.26% year on year, with a gross margin of 8.83%, representing the company's transformation from a component supplier to a system-level partner. The company also signed a comprehensive cooperation framework agreement with Dongfang Electric Machinery Company, a subsidiary of Dongfang Electric Corporation, to carry out full-chain collaborative innovation around insulation systems for large hydro generators and high-efficiency steam turbine generators.