ST Infly released its 2026 interim report. First-half operating revenue was 189 million yuan, down 19.5% year on year, while net profit attributable to the parent swung from a loss of 9.62 million yuan a year earlier to a loss of 110 million yuan. Second-quarter operating revenue was 98.96 million yuan, down 24.6% year on year, and net profit attributable to the parent widened from a loss of 14.41 million yuan a year earlier to a loss of 90.82 million yuan. As of the end of the second quarter, total assets were 1.487 billion yuan, down 9.8% from the end of the previous year, and net assets attributable to the parent were negative 217 million yuan, down 92.8% from the end of the previous year. The company said its IoT product business was hit by weakening market demand, rising storage and chip prices, and intensifying competition, leading to a year-on-year decline in revenue, while it is advancing out-of-court restructuring, pre-reorganisation and reorganisation matters to address financial difficulties.
Shenzhen Infinova LtdFirst-half loss widened to 110 million yuan, revenue down 19.5%, and net assets turned negative.
