Guangdong Ellington Electronics Technology Co Ltd

Ellington Electronics released its 2026 interim report. Total operating revenue was 2.111 billion yuan, up 3.72% year-on-year. Net profit attributable to the parent company was 108 million yuan, down 58.65% from the same period last year. Net cash inflow from operating activities was 426 million yuan, down 7.08% year-on-year. The company's asset-liability ratio was 41.00%, gross margin was 18.45%, ROE was 2.56%, and diluted earnings per share was 0.11 yuan. The number of shareholders was 60,000, and the top ten shareholders held 63.05% of the total share capital.

Ellington Electronics released its 2026 interim report, showing first-half net profit attributable to the parent fell 58.6% year-on-year to 108 million yuan. Operating revenue was 2.11 billion yuan, up 3.7% year-on-year; non-GAAP net profit attributable to the parent was 98.26 million yuan, down 60.5% year-on-year; net operating cash flow was 426 million yuan, down 7.1% year-on-year; earnings per share were 0.1079 yuan. In the second quarter, operating revenue was 1.18 billion yuan, up 7.9% year-on-year; net profit attributable to the parent was 70.11 million yuan, down 51.4% year-on-year. As of the end of the second quarter, total assets were 7.148 billion yuan, up 13.3% from the end of the previous year; net assets attributable to the parent were 4.218 billion yuan, down 2.2% from the end of the previous year. The company said its main business and operating model did not undergo major changes during the reporting period. It continued to deepen its key account strategy, with stable orders from core overseas customers and growing orders from domestic strategic customers, while its Thailand production base has begun trial production.

Ellington Electronics disclosed a performance forecast, expecting net profit attributable to the parent for the first half of 2026 to be between 92.5 million yuan and 119 million yuan, a year-on-year decline of 54.54% to 64.51%. Deducted non-recurring net profit is expected to be between 83.2 million yuan and 108 million yuan, a year-on-year decline of 56.61% to 66.57%. The company stated that the performance decline was mainly due to a significant rise in raw material prices and delayed product price increases, exchange losses from the appreciation of the yuan against the US dollar, and high unit costs caused by low capacity utilization in the early stages of production at its Thailand factory. The company has initiated a price pass-through mechanism for downstream customers and is accelerating the ramp-up of production capacity at the Thailand factory.