Macmic Science & Technology Co Ltd

Macro Micro Technology released its 2026 interim report on August 28. Supported by its core power semiconductor business, benefiting from downstream demand growth in new energy vehicles, energy storage, and AI computing power, as well as a substantial increase in government subsidies, the company swung to a profit during the reporting period and achieved significant growth, though its non-recurring net profit remained in a loss position. During the reporting period, the company achieved operating revenue of 738 million yuan, up 8.49 percent year on year; net profit attributable to the parent company was 3.99 million yuan, up 33.84 percent year on year; and non-recurring net profit was negative 35.35 million yuan, a sharp year-on-year decline. Net cash flow from operating activities was 210 million yuan, turning positive from negative year on year, mainly due to the receipt of large government subsidies. The company's core products continued to ramp up steadily, with 1050-volt and 1200-volt IGBT and FRD chips adapted for photovoltaic and energy storage applications already in mass production, shipments of automotive-grade silicon carbide modules increasing, and 650-volt gallium nitride chips passing certification with AI data center power supply customers and gradually scaling up. Government subsidies recognized in current profit and loss during the period reached as high as 35.35 million yuan, a key factor in offsetting the core business loss and achieving book profit, while fair value gains from trading financial assets of approximately 11.48 million yuan also provided some support to profit. The company has laid out high-end products such as silicon carbide and gallium nitride and completed certification with some customers, and is expected to benefit from technological iteration, but it needs to guard against risks such as intensifying industry competition, raw material cost fluctuations, and uncertainty over the sustainability of government subsidies.

MacMic Technology's board of directors has approved a proposal to change the use of repurchased shares. The company plans to cancel 769,030 repurchased shares and reduce its registered capital, instead of using them for equity incentives or employee stock ownership plans as originally intended. The shares to be cancelled account for 0.35% of the company's current total share capital of 216,679,393 shares. After the cancellation, the total share capital will decrease to 215,910,363 shares. The company stated that this move aims to protect investor interests and enhance market confidence, and will help increase earnings per share. It will not have a material adverse impact on operations or financial condition, nor will it affect the company's listing status.