Wingtech Technology (600745) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 816 million, a 93.77% decrease year-over-year due to divestiture of product integration business and loss of control over certain overseas entities from Q4 2025.

• Net loss attributable to shareholders was RMB -189 million, compared to a profit of RMB 261 million in Q1 2025.

• Semiconductor business faced capacity utilization decline and sales drop, with Q1 revenue of RMB 808 million, gross margin 27.42%, and net profit RMB 13 million.

Financial highlights

• Operating income: RMB 816 million, down 93.77% year-over-year.

• Net profit attributable to shareholders: RMB -189 million, down 172.41% year-over-year.

• Operating cash flow: RMB 396 million, down 84.32% year-over-year.

• Basic and diluted EPS: RMB -0.15, compared to RMB 0.21 last year.

• Total assets at quarter-end: RMB 40.94 billion, down 2.38% from year-end 2025.

• Shareholders’ equity: RMB 24.41 billion, down 1.97% from year-end 2025.

Outlook and guidance

• Revenue and capacity utilization expected to recover steadily as supply chain and customer orders rebound in H2 2026.

• Expansion in new energy vehicles, AI, and industrial automation to drive demand.

• Cost optimization and efficiency improvements targeted to restore margins.