SUPCON Technology (688777) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 1.51 billion, down 6.29% year-over-year from RMB 1.61 billion.

• Net profit attributable to shareholders was RMB 74.68 million, a 37.81% decrease year-over-year.

• Industrial AI business achieved revenue of RMB 183.85 million during the quarter.

Financial highlights

• Operating cash flow was negative RMB 631.51 million, compared to negative RMB 523.89 million in Q1 2025.

• Basic and diluted EPS were both RMB 0.10, down 33.33% year-over-year.

• R&D investment reached RMB 215.03 million, up 4.15% year-over-year, accounting for 14.28% of revenue.

• Total assets at quarter-end were RMB 18.37 billion, down 2.41% from year-end 2025.

• Shareholders’ equity was RMB 10.03 billion, up 0.28% from year-end 2025.

Outlook and guidance

• Management highlighted ongoing expansion in industrial AI, with business scale increasing.