Grid Dynamics Holdings IncSubsidiary ASL's investment in GDYN suffered a sharp share price decline, leading to an impairment provision.
Teamsun Technology disclosed its semi-annual report on August 26. In the first half of 2026, the company achieved operating revenue of 2.501 billion yuan, up 10.57 percent year on year, but net profit attributable to shareholders of the listed company was negative 245 million yuan, compared with a profit of 140 million yuan in the same period last year, swinging from profit to loss. During the reporting period, revenue growth was mainly driven by the company's expansion in domestic and overseas computing power construction, computing power services, and AI agent industry applications. In addition, the share price of GDYN, in which subsidiary ASL has invested, fell sharply due to an industry valuation correction. Based on the principle of accounting prudence, the company made an impairment provision of 531 million yuan for the related long-term equity investment.
Grid Dynamics Holdings IncSubsidiary ASL's investment in GDYN suffered a sharp share price decline, leading to an impairment provision.
Beijing Teamsun Technology Co LtdReported a net loss of 245 million yuan, swinging from profit to loss, with a 531 million yuan impairment provision.
ASL's investment in GDYN declined sharply, causing an impairment provision that impacted the parent's results.