Hongquan Technology released its 2026 interim report on August 27. First-half operating revenue was 362 million yuan, up 8.4 percent year-on-year, but the company recorded a loss of 12.42 million yuan, compared with a profit of 33.44 million yuan in the same period last year, swinging from profit to loss. Excluding non-recurring items, the loss was 14.37 million yuan, compared with a profit of 26.88 million yuan a year earlier. Net operating cash flow was negative 95.02 million yuan, and loss per share was 0.13 yuan. In the second quarter, operating revenue was 184 million yuan, up 9.3 percent year-on-year, while net profit attributable to the parent company was a loss of 4.75 million yuan, down 135.9 percent year-on-year. As of the end of the second quarter, total assets were 1.184 billion yuan, down 0.8 percent from the end of the previous year, and net assets attributable to the parent company were 738 million yuan, down 2.5 percent from the end of the previous year. During the reporting period, revenue from the intelligent connected product line grew significantly to 218 million yuan, up 21.46 percent year-on-year, but revenue from software platform development declined. The commercial vehicle segment achieved results in overseas and new energy markets by raising per-vehicle value, and revenue from the two-wheeler business doubled. Although operating revenue grew, net profit was in the red, with profitability affected by rising raw material prices and market pressure.
Hangzhou Hopechart Iot TechnologyHongquan Technology swung to a 12.42 million yuan first-half loss from a profit, with negative operating cash flow and falling net assets.
