Highly Electric released its 2026 semi-annual report on the evening of August 30. In the first half, the company achieved operating revenue of 12.428 billion yuan, roughly flat year on year. Net profit attributable to the parent company was 164 million yuan, up 390.69% year on year. Net profit attributable to the parent company after deducting non-recurring items was 148 million yuan, up 552.30% year on year. The company adheres to a dual-core, dual-drive strategy focused on heating and cooling related businesses and auto parts. In the heating and cooling core business, sales of rotary compressors reached 34.86 million units, basically flat year on year. Sales of compressors for non-residential air conditioning rose 45.9% year on year, and sales in the heat pump dryer segment grew 60% year on year. In the auto parts core business, Highly Marelli turned from loss to profit year on year, with gross margin up 4.60 percentage points. It also secured new project nominations or mass production for multiple models from customers including Geely, Nissan, Renault, and BYD.
Shanghai Highly Group Co Ltd AH1 net profit attributable to parent surged 390.69% year on year, with non-recurring net profit up 552.30%.
Highly Marelli turned from loss to profit year on year with gross margin up 4.60 percentage points.
