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Shenzhen Kinwong Electronic (603228) investor relations material
Shenzhen Kinwong Electronic Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 reached RMB 8.61 billion, up 21.37% year-over-year, driven by strong AI server and data center demand.
Net profit attributable to shareholders was RMB 601.62 million, down 7.38% year-over-year, mainly due to RMB appreciation and resulting FX losses exceeding RMB 150 million.
Q2 2026 saw revenue of RMB 4.72 billion, with net profit up 13.61% year-over-year and 58.55% sequentially.
High-end PCB product expansion and AI infrastructure demand fueled growth, with capacity at key plants ramping up.
Financial highlights
Operating income: RMB 8.61 billion, +21.37% year-over-year.
Net profit attributable to shareholders: RMB 601.62 million, -7.38% year-over-year.
Operating cash flow: RMB 604.25 million, -33.80% year-over-year.
Basic and diluted EPS: RMB 0.61, -14.08% year-over-year.
Gross margin: 20.2% (calculated from disclosed data).
Non-recurring gains: RMB 135.88 million, mainly from government grants and investment returns.
Outlook and guidance
2026 full-year revenue target: RMB 18–19 billion; net profit target: RMB 2.003–2.2 billion.
2027–2029 targets show continued strong growth, with 2029 revenue goal at RMB 30–37 billion.
Management expects AI server and data center orders to drive further capacity expansion and performance improvement.
- Net profit jumped 62.56% on 18.26% revenue growth, with strong high-end PCB demand.603228
Q2 2024 - Net profit rose 24.86% to RMB 1.17 billion on 17.68% revenue growth, with strong AI and automotive PCB demand.603228
Q4 2024 - Q3 revenue up 15%, nine-month net profit up 29%, with major convertible bond conversion.603228
Q3 2024 - Revenue up 20.93% to RMB 7.10B, net profit stable, high-end PCB demand drives growth.603228
Q2 2025 - Revenue surged 21.90% year-over-year, but core profit margin narrowed due to higher costs.603228
Q1 2025 - Q3 revenue and profit rose sharply, aided by non-recurring gains and bond redemption.603228
Q3 2025 - Revenue up 20.92% and net profit up 5.30%, with strong AI and automotive PCB growth.603228
Q4 2025 - Revenue up 16%, but net profit down 28% as cost inflation and currency losses hit margins.603228
Q1 2026
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