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.
Guangdong Ellington Electronics Technology Co LtdRaw material price rise and delayed product price increases, plus FX losses and low capacity utilization, causing >50% profit drop.