Suzhou Maxwell Technologies (300751) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was ¥1.34 billion, down 40.02% year-over-year due to a downturn in the photovoltaic industry and reduced customer demand for expansion and upgrades.

• Net profit attributable to shareholders was ¥118 million, a 27.19% decrease year-over-year.

• Cash flow from operating activities surged 654.28% year-over-year, driven by increased new orders and customer prepayments.

Financial highlights

• Operating income: ¥1.34 billion, down from ¥2.23 billion year-over-year.

• Net profit attributable to shareholders: ¥118 million, down from ¥162 million year-over-year.

• Net profit excluding non-recurring items: ¥77.7 million, down 48.42% year-over-year.

• Basic and diluted EPS: ¥0.42, down from ¥0.58 year-over-year.

• Total assets at quarter-end: ¥23.11 billion, up 7.27% from year-end 2025.

Outlook and guidance

• The photovoltaic industry remains in a deep adjustment phase, with continued overcapacity and weak demand for new equipment orders.