Lecang Share Half-Year Report: Forex Gains and Losses Distort Income Statement, Core Business Maintains Positive Growth

EarningsDigital Finance
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Summary · why it matters

Lecang Share disclosed its 2026 semi-annual report on the evening of August 28. During the reporting period, it achieved operating revenue of 3.179 billion yuan, up 1.11% year on year, but net profit attributable to shareholders of the listed company was only 21.38 million yuan, a sharp year-on-year decline of 83.43%, while non-GAAP net profit fell 96.23%. The profit decline mainly stemmed from violent fluctuations in foreign exchange gains and losses. In the first half of the year, the company recorded a foreign exchange loss of 77.8415 million yuan, compared with a foreign exchange gain of 46.0303 million yuan in the same period last year. This item alone created a profit gap of about 124 million yuan. After excluding the impact of foreign exchange gains and losses, the company's core business operating profit actually maintained positive growth, and its operating fundamentals remained solid. This phenomenon is not an isolated case. As of August 26, 677 listed companies had mentioned foreign exchange losses in their semi-annual reports. Among them, Chery Automobile had a net foreign exchange loss of 2.092 billion yuan in the first half of the year, while Hikvision swung from a foreign exchange gain of 607 million yuan in the same period last year to a loss of 595 million yuan. Both of Lecang Share's core business segments maintained growth. Smart home business revenue was 1.607 billion yuan, up 3.6% year on year, of which cross-border e-commerce sales revenue was 1.141 billion yuan, up 13.69%, and independent website sales revenue was 495 million yuan, up 20.48%. Overseas warehouse business revenue was 1.549 billion yuan, with gross margin up 1.75 percentage points year on year. The company also further acquired a 32% stake in Yisibeisi, bringing its total shareholding to 52%, and entered the esports sector.

Impact on stocks 3

Electrification & Mobility▼ · 1 stocks
Chery Automobile Co Ltd
9973
▼ NegativeMonetaryrelevance

Reported a net foreign exchange loss of 2.092 billion yuan in H1, cited as an example of forex losses hitting earnings.

Others± Mixed · 2 stocks

Off-coverage companies 1

苏州亿思贝斯科技有限公司Private± Mixed
Capitalrelevance

Lecang further acquired a 32% stake in Yisibeisi, raising its total holding, but the article gives no financial detail on the target.

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