Ziel Home Furnishing Technology Co. Ltd. A

Ziel Technology released its 2026 interim report, with total operating revenue of 4.826 billion yuan, net profit attributable to the parent company of 246 million yuan, and net cash inflow from operating activities of 1.674 billion yuan. The company's latest asset-liability ratio is 52.34%, up 1.22 percentage points from the previous quarter and up 6.07 percentage points from the same period last year. Gross margin is 35.63%, ROE is 6.98%, and diluted earnings per share is 0.61 yuan. Total asset turnover is 0.68 times, and inventory turnover is 2.12 times, down 0.01 times from the same period last year. The number of shareholders is 8,363, and the top ten shareholders hold 320 million shares, accounting for 79.43% of total share capital.

Ziel Home Furnishing Technology Co., Ltd. disclosed its semi-annual report on the evening of August 26, 2026. In the first half of the year, it achieved operating revenue of 4.826 billion yuan, up 19.32% year on year, and net profit attributable to the parent of 246 million yuan, up 29.16% year on year. Against the backdrop of RMB appreciation, gross margin rose 0.72 percentage points year on year after excluding the impact of tariff rebates, reflecting a substantive improvement in profitability. The company's strategy of enhancing full-chain efficiency delivered notable results. It completed the layout of six local warehouses in the US market, with average last-mile shipping cost per order falling more than 10% on a compound annual basis compared with the first half of 2024, and outbound order volume from self-operated warehouses plus partnered third-party warehouses growing more than twofold on a compound annual basis. Amazon's VC channel became the core growth engine, generating revenue of 1.866 billion yuan in the first half, up 406.31% year on year, with its share of main business revenue jumping from 9.20% to 38.91%. Non-Amazon platforms contributed 30.92% of revenue, with revenue up 21.83% year on year. New product expansion achieved a breakthrough, with brand-new products accounting for 13.87% of revenue, up 9.52 percentage points from the same period last year. By region, revenue in the European market was 3.239 billion yuan, up 26.03% year on year; revenue in the US and Canada market was 1.299 billion yuan, up 1.46% year on year, though second-quarter revenue alone rose 23.52% year on year; and revenue in the Latin American market was 178 million yuan, up 99.44% year on year. The company has developed more than 70 AI agents, achieving near-total AI replacement in product copywriting, 40% AI auto-reply in customer service, and 60% AI coding automation in IT.