Jinfu Technology's H1 revenue up 36.18% year-on-year as diversification gains traction

Earnings
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Summary · why it matters

Jinfu Technology announced on the evening of August 27 that in the first half of this year, the company achieved operating revenue of 1.325 billion yuan, up 36.18% year-on-year, mainly due to increased customer order demand. Net profit attributable to shareholders of the listed company was negative 117 million yuan, down 1.94% year-on-year. The company said that although revenue grew, research and development expenses and financial expenses increased by 65.12% and 69.83% year-on-year respectively, offsetting the increase in operating gross profit and causing operating profit to widen its loss by 13.75% year-on-year. Among business segments, new energy business revenue grew 71.42% year-on-year, with aerogel insulation product revenue up 104.96% and energy storage battery CCS busbar integrated structural component revenue up 56.98%. Subsidiary Maizhi Technology expanded into AI server and robot-specific testing equipment, and revenue from such products has already surpassed its original consumer electronics testing business. In the auto parts business, the company's designated projects for Leapmotor, Huawei-affiliated vehicles, FAW Hongqi, and BAIC New Energy have entered mass production one after another, and related revenue is expected to grow significantly in the second half of the year.

Impact on stocks 3

Electrification & Mobility▲ · 1 stocks
Zhejiang Leapmotor Tech Co
9863
▲ PositiveDemandrelevance

Jinfu's designated projects for Leapmotor have entered mass production, implying orders for Jinfu's auto parts.

Others▲ · 2 stocks
Suzhou Jinfu New Material Co
300128
▲ PositiveCapitalDemandrelevance

Jinfu's H1 revenue rose 36.18% on higher customer orders, though net loss widened on R&D and financial expenses.

Theme Impact 3

Off-coverage companies 2

迈致科技Private▲ Positive
Demandrelevance

Subsidiary Maizhi Technology expanded into AI server and robot testing equipment, with that revenue surpassing its consumer electronics testing business.

HuaweiPrivate▲ Positive
Demandrelevance

Jinfu's designated projects for Huawei-affiliated vehicles have entered mass production, implying orders for Jinfu's auto parts.

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