300115.CS▼
Changying Precision's first-half net profit attributable to parent falls 94.2% year on year
Changying Precision released its 2026 interim report, showing first-half net profit attributable to the parent of 17.76 million yuan, down 94.2% year on year. Operating revenue was 10.73 billion yuan, up 24.2% year on year. Net profit attributable to the parent after deducting non-recurring items was 14.03 million yuan, down 95.1% year on year. Net operating cash flow was negative 203 million yuan, down 134.3% year on year. In the second quarter, operating revenue was 5.6 billion yuan, up 31.9% year on year, but net profit attributable to the parent recorded a loss of 107 million yuan, down 181.9% year on year. The company said that amid a complex external environment, it continued to deepen its coordinated development strategy of consumer electronics, new energy, and artificial intelligence, while increasing investment in emerging businesses such as embodied intelligence, server liquid-cooling quick connectors, and high-speed copper cables. During the reporting period, revenue from precision components for smart terminals and electronic products was 5.758 billion yuan, up 8.59% year on year. Revenue from key structural parts and connector assemblies for new energy was 4.326 billion yuan, up 47.21% year on year. Revenue from embodied intelligence and emerging technology hardware was 243 million yuan, up 537.64% year on year.
300115.CS▼
Changying Precision's net profit fell 94.2% year-on-year in the first half of 2026
Changying Precision released its 2026 semi-annual report on August 26. During the period, it achieved operating revenue of 10.729 billion yuan, up 24.18% year-on-year, but net profit attributable to shareholders of the listed company was only 17.765 million yuan, a sharp year-on-year decline of 94.2%. The company said the decline in performance was mainly affected by a combination of factors including rising raw material prices, increased investment in new businesses, and exchange rate fluctuations.
Changying Precision's First-Half Net Profit Falls 94.2% Year-on-Year
Changying Precision released its 2026 semi-annual report, achieving operating revenue of 10.729 billion yuan, up 24.18% year-on-year, but net profit attributable to shareholders of the listed company was only 17.765 million yuan, down 94.2% year-on-year. The company said the decline was mainly affected by rising raw material prices, increased investment in new businesses, and exchange rate fluctuations. Notably, the company posted a net loss of 107 million yuan in the second quarter, compared with a net profit of 125 million yuan in the first quarter, swinging from profit to loss quarter-on-quarter.
Robotics & Physical AI▲
Institutions recommend focusing on medium- and long-term allocation opportunities in the low-altitude economy, humanoid robots, and commercial aerospace
Against the backdrop of crowded trading in A-share technology hot sectors and amplified short-term volatility, institutions recommend that investors shift their attention to three major sectors: the low-altitude economy, humanoid robots, and commercial aerospace, seizing pullback windows to position at lower levels. CICC believes that the intensive rollout of low-altitude economy policies is resonating with technological iteration across the industry chain, and expectations for an industry inflection point are gradually strengthening. Guoyuan Securities analyst Gong Siwen suggests focusing on whole-machine names such as Wanfeng Auto Wheel, EHang, JOUAV, and Lvneng Huichong, as well as core component names such as Zongshen Power, Wolong Electric Drive, Yingliu Shares, and Inpower. On the humanoid robot front, Unitree Robotics recently entered the capital market and is expected to provide a clearer valuation anchor for the sector, driving a shift in capital from pure thematic speculation to growth-based pricing. Huayuan Securities analyst Zhao Mengni suggests focusing on Everwin Precision, Foresight Technology, Sanhua Intelligent Controls, Tuopu Group, Leader Harmonious Drive, Shuanghuan Transmission, Hengli Hydraulic, Zhejiang Rongtai, Moons' Electric, and Zhaowei Machinery & Electronics. In commercial aerospace, the Long March 10B and Zhuque-3 have successively completed successful recoveries, and reusable rocket technology is maturing. With falling launch costs resonating with demand for low-orbit constellation networking, industrialization is expected to accelerate. Guotai Haitong Securities analyst Yang Tianhao suggests focusing on Chengchang Technology, Tongyu Communication, Sunway Communication, Shanghai Hanxun, Aerospace Electronics, Feiwo Technology, Sirui Advanced Materials, and Western Metal Materials.
Robotics & Physical AI
Changying Precision Establishes Robotics Company in Yibin
Changying Precision has indirectly established a wholly owned subsidiary, Changying Robotics Yibin Company Limited, in Yibin. The company's legal representative is Wu Liang, with a registered capital of 10 million yuan. Its business scope covers the research and development and sales of intelligent robots, industrial robot manufacturing, and the processing of mechanical parts and components.
China