Kinco Automation (Shanghai) Co. Ltd. A

Kinco Automation released its 2026 interim report, with operating revenue of 448 million yuan, up 44.00% year on year, and net profit attributable to the parent company of 36.33 million yuan, up 39.16% year on year. Revenue from the robotics industry reached 243 million yuan, up 62.31% year on year, accounting for 54.36% of total revenue. Servo module shipments rose 119.05% year on year, frameless torque motor shipments rose 422.90% year on year, and the company achieved batch delivery in the humanoid robotics field. Net cash flow from operating activities was negative 18.06 million yuan, shifting from a net inflow in the same period last year to a net outflow, mainly due to increased raw material stocking and higher personnel compensation. The company's inventory book value rose to 224 million yuan, and accounts receivable rose to 198 million yuan, warranting attention to inventory write-down and collection risks.