Cambricon Technologies (688256) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 5.996 billion, up 108.13% year-over-year, driven by strong AI chip demand and expanded industry applications.

• Net profit attributable to shareholders was RMB 2.311 billion, up 122.61% year-over-year; adjusted net profit (excluding non-recurring items) was RMB 2.166 billion, up 137.30%.

• Gross profit totaled RMB 3.313 billion, up 105.62% year-over-year, with significant growth in both cloud and edge product lines.

• R&D investment increased 29.63% to RMB 702 million, with over 80% of employees in R&D roles.

• The company completed a capital increase and stock dividend, raising total shares to 628 million.

Financial highlights

• Operating income: RMB 5.996 billion (up 108.13% YoY).

• Net profit: RMB 2.311 billion (up 122.61% YoY).

• Adjusted net profit: RMB 2.166 billion (up 137.30% YoY).

• Basic EPS: RMB 3.68 (up 119.05% YoY); diluted EPS: RMB 3.65.

• Operating cash flow: RMB 311 million (down 65.83% YoY, due to increased procurement and tax payments).

• Total assets: RMB 18.20 billion (up 35.43% from year-end 2025).

• Gross margin remained robust despite increased costs.

Outlook and guidance

• Management expects continued strong demand for AI computing in cloud and edge sectors.

• Ongoing investment in R&D and ecosystem development to maintain technology leadership.

• The company plans to further expand industry applications and strengthen partnerships.