Dianguang Technology 2026 Interim Report: Computing Power Business Surges, Net Profit Declines and Cash Flow Under Pressure

Earnings
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Dianguang Technology released its 2026 interim report on August 26. The company is driven by its dual engines of mining explosion-proof electrical equipment and computing power services, but due to slowing equipment procurement in the traditional coal industry and falling product prices, both revenue and net profit declined, while the computing power services business achieved rapid growth. During the reporting period, the company achieved operating revenue of 536 million yuan, down 4.73 percent year on year. Net profit attributable to the parent company was 38.61 million yuan, down 17.92 percent year on year. Non-GAAP net profit was 38.25 million yuan, up 15.92 percent year on year. Net cash flow from operating activities was negative 58.21 million yuan, turning from a net inflow of 50.07 million yuan in the same period last year to a net outflow, mainly due to increased prepayments for purchasing computing power equipment. In terms of business structure, revenue from mining explosion-proof switches was 262 million yuan, down 19.80 percent year on year. Drive equipment revenue was 46.65 million yuan, down 35.26 percent year on year. Computing power services revenue reached 96.35 million yuan, up 83.10 percent year on year, with its share of total revenue rising to 17.97 percent and a gross margin of 44.65 percent. Power equipment revenue was 64.35 million yuan, up 191.97 percent year on year. The company needs to be alert to risks including raw material price fluctuations, longer accounts receivable collection cycles, and intensifying competition in the computing power services industry.

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