Ningbo Joyson Electronic (600699) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 13.82 billion, down 5.22% year-over-year due to weaker global auto sales and the disposal of a subsidiary's business.

• Net profit attributable to shareholders rose 18.11% year-over-year to RMB 402 million, continuing a rapid growth trend.

• Operating cash flow increased 5.45% year-over-year to RMB 915 million, reflecting improved operational quality.

• Gross margin remained relatively stable despite revenue decline, supported by ongoing cost and expense controls.

• Significant new business wins in Q1, with new project orders totaling RMB 27.5 billion, including RMB 16.1 billion in safety and RMB 11.4 billion in electronics.

Financial highlights

• Operating income: RMB 13.82 billion, down 5.22% year-over-year.

• Net profit attributable to shareholders: RMB 402 million, up 18.11% year-over-year.

• Operating cash flow: RMB 915 million, up 5.45% year-over-year.

• Basic and diluted EPS: RMB 0.26, up from RMB 0.24 year-over-year.

• Total assets at quarter-end: RMB 70.84 billion, up from RMB 69.15 billion at year-end 2025.

Outlook and guidance

• Ongoing investment in R&D for smart driving and intelligent EV technologies is expected to support future growth, despite short-term impact on net profit.

• Management expects continued improvement in operational resilience and quality.