Guangdong Haid Group (002311) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached ¥29.01 billion, up 13.19% year-over-year, while net profit attributable to shareholders fell 30.82% to ¥887.12 million.

• Cash flow from operating activities turned positive at ¥24.33 million, a significant improvement from a negative ¥2.25 billion in the prior year.

• Total assets increased 10.41% from year-end 2025 to ¥52.54 billion.

Financial highlights

• Gross margin declined as cost of sales rose to ¥26.13 billion, up from ¥22.38 billion year-over-year.

• Basic and diluted EPS were ¥0.54, down 29.87% year-over-year.

• Net profit excluding non-recurring items dropped 55.51% to ¥569.83 million.

• Non-recurring gains totaled ¥317.29 million, mainly from government subsidies and financial asset gains.

Outlook and guidance

• Accounts receivable, prepayments, and contract liabilities all increased sharply, reflecting business expansion and seasonal demand.

• Inventory and prepayments rose in anticipation of peak season.