Kunlun Wanwei disclosed its 2026 semi-annual report. In the first half, revenue reached 5.359 billion yuan, up 43.55 percent year on year, and net profit attributable to the parent company was 1.088 billion yuan, swinging back to profit. However, after excluding non-recurring items, it still lost 458 million yuan. The profit mainly came from a 1.479 billion yuan investment gain generated by the passive dilution of equity in subsidiary Aijieke Core as a result of external financing. Net cash flow from operating activities was negative 467 million yuan, with the net outflow narrowing 16.64 percent year on year. The company's equity incentive plan assesses only revenue scale. The 2026 revenue assessment target is 8.5 billion yuan, and 63 percent was completed in the first half. No assessment constraints related to net profit or cash flow were set, which has sparked discussion and questioning among market investors.
Beijing Kunlun Tech Co LtdNon-GAAP net loss of 458 million yuan despite revenue growth, with profit from one-time investment gain and negative operating cash flow.
