HMT(Xiamen)New Technical

Huamao Technology released its 2026 interim report. Total operating revenue was 1.091 billion yuan, down 1.53% year on year. Net profit attributable to the parent company was 23.2857 million yuan, down 82.95% year on year. Net cash inflow from operating activities was 283 million yuan. The asset-liability ratio was 35.45%. Gross margin was 27.44%, down 3.30 percentage points year on year. Diluted earnings per share were 0.07 yuan, down 84.09% year on year.

Huamao Technology disclosed its earnings forecast, expecting net profit attributable to shareholders for the first half of 2026 to be between 21.1245 million yuan and 31.6867 million yuan, a year-on-year decline of 76.8% to 84.53%. Deducted non-recurring net profit is expected to be between 12.1686 million yuan and 18.2528 million yuan, down 85.43% to 90.29%. The company attributed the decline mainly to intense competition in the automotive industry and weakening downstream demand, which put pressure on product selling prices. Additionally, depreciation and amortization increased during the production ramp-up phase at the new Vietnam subsidiary base, and the employee stock ownership plan generated share-based payment expenses of approximately 120 million yuan, an increase of about 112 million yuan compared with the same period last year. Excluding the impact of share-based payments, net profit attributable to shareholders is expected to be between 123.7367 million yuan and 134.2989 million yuan, roughly flat compared with the same period last year. Furthermore, higher interest expenses on convertible bonds and exchange losses due to currency fluctuations led to a significant increase in financial expenses.