Shenzhen Topband Co Ltd

Topband released its 2026 interim report. First-half net profit attributable to the parent was 129 million yuan, down 61.0% year on year. Operating revenue was 5.81 billion yuan, up 5.6% year on year. Net profit attributable to the parent excluding non-recurring items was 111 million yuan, down 64.1% year on year. Net operating cash flow was negative 101 million yuan, down 128.6% year on year. Second-quarter operating revenue was 3.16 billion yuan, up 11.8% year on year, and net profit attributable to the parent was 76.91 million yuan, down 42.3% year on year. The company said its intelligent control business and autonomous intelligent business continued to develop, its new energy business grew significantly in energy storage and electric two-wheeler segments, and its cloud storage and cloud charging products have achieved volume sales.

Topband issued an announcement, expecting net profit attributable to the parent for the first half of 2026 to be between 116 million and 149 million yuan, a decline of 55% to 65% compared with 330 million yuan in the same period last year. The company's operating revenue for the same period was approximately 5.809 billion yuan, up 5.57% year-on-year, but the profit decline was mainly due to increased exchange losses caused by the appreciation of the yuan against the US dollar, as well as rising prices of some raw materials putting pressure on gross margins. Through cost reduction and efficiency improvement, the company achieved a year-on-year decline in total period expenses. Net profit attributable to the parent and net profit after deducting non-recurring items both grew quarter-on-quarter in the second quarter compared with the first quarter, indicating some improvement in operating conditions.