Changqing Technology disclosed its 2026 semi-annual report. In the first half, it achieved operating revenue of 248 million yuan, up 7.77% year on year, but net profit attributable to the parent company was only 23.51 million yuan, a sharp drop of 36.10% year on year, while non-GAAP net profit plunged 37.92%. Operating costs rose 15.01% year on year to 176 million yuan, far outpacing revenue growth and significantly squeezing gross margin. Selling expenses surged 33.41% year on year to 9.33 million yuan, and financial expenses swung from a gain in the same period last year to an expense of 3.12 million yuan, mainly due to increased foreign exchange losses. Domestic revenue was 141 million yuan, down 17.69% year on year; overseas revenue was 107 million yuan, nearly doubling with growth of 99.21% year on year, but gross margins were under pressure both at home and abroad, with overseas business gross margin falling 6.32 percentage points year on year to 44.87%. As of the end of the reporting period, the book value of accounts receivable reached 356 million yuan, accounting for as much as 25.42% of total assets, and the company warned of recovery risks.
Changzhou Evergreen Technology Co. Ltd. ANet profit fell 36% YoY, with rising costs and expenses squeezing margins.
