Gosuncn Technology Group Co Ltd Class A

Gosuncn released its 2026 semi-annual report on the evening of August 28. In the first half of the year, it achieved operating revenue of 966 million yuan, up 7.76% year on year, and net profit attributable to the parent company of 32.83 million yuan, up 24.87% year on year. The vehicle-mounted terminal business was the main source of revenue growth, with first-half revenue of 508 million yuan and a compound growth rate of more than 50% over the past three years. Among this, shipments of T-box products exceeded 550,000 units, up 25%, overseas shipments surpassed 100,000 units, and the company secured 23 new project designations in China, as well as a new designation from the globally renowned Tier 1 supplier Harman. Overseas business grew rapidly, with first-half overseas revenue of 207 million yuan, up 35.93%, and its share of total revenue rose to 21%. In addition, the digital license plate business for electric bicycles saw a market breakout, with the company winning related projects worth more than 55 million yuan, accounting for over 50% of the public tender market share, and expanding its business to more than 40 cities nationwide. The company's net cash flow from operating activities reached 119 million yuan, up 313.41% year on year.

Gosuncn has clarified the market's focus on its 2.5 billion yuan accounts receivable debt restructuring. The announcement states that the figure of no more than 2.5 billion yuan refers to the principal amount of claims included in the restructuring negotiations, not the amount of any write-down. The company emphasized that this debt restructuring negotiation will hold the bottom line and earnestly safeguard the legitimate interests of the listed company and all shareholders. The restructuring mainly targets overdue debts that are historical in nature and difficult to collect through conventional means, leveraging the current opportunity of local debt resolution. Receivables with good collection prospects will continue to be pursued normally and will not participate in the restructuring. All claims to be restructured will be handled on a case-by-case basis, with prudent negotiations taking into account the age of the debt and the debtor's financial situation, guided by the core principle of preserving the company's claims to the greatest extent possible. The company's overall revenue for 2025 was 1.989 billion yuan, up 40.39% year-on-year, with net operating cash flow up 164.78% year-on-year, marking five consecutive years of positive cash flow. In the first quarter of 2026, revenue reached 510 million yuan, up 35.61% year-on-year, with net profit attributable to the parent company of 23.1565 million yuan, up 1,277.66% year-on-year, and net cash flow from operating activities of 35.3709 million yuan, turning positive year-on-year with an increase of 201.93%, achieving positive net operating cash flow in the first quarter for the first time since listing.

Gosuncn's holding subsidiary, Gosuncn Zhilian Technology, has won the bid for the Xinyang Public Security Traffic Police Detachment's electric vehicle registration management platform project, with a bid amount of 20.132084 million yuan. The procurement content mainly includes electronic coding labels, electric vehicle coding registration and identification services, and more.