MetaX (688802) Q2 2026 earnings summary

Executive summary

• Achieved revenue of ¥1.32 billion in H1 2026, up 44.67% year-over-year, driven by strong GPU product shipments and broad customer adoption.

• Net profit attributable to shareholders reached ¥612 million, turning profitable from a loss of ¥186 million in H1 2025.

• Adjusted for non-recurring items, net loss narrowed by 75.83% to ¥48.86 million.

• R&D investment remained high at ¥525 million, representing 39.65% of revenue.

• Initiated H-share listing process in Hong Kong to support international expansion.

Financial highlights

• Revenue: ¥1,323.6 million, up 44.67% year-over-year.

• Net profit: ¥612.4 million (H1 2025: -¥185.9 million).

• Operating cash flow: -¥1,296.9 million, further negative due to increased procurement.

• Gross margin and cost structure improved with scale, but cash flow remains under pressure.

• Basic and diluted EPS: ¥1.53 (H1 2025: -¥0.62).

Outlook and guidance

• Expects continued high revenue growth as new products ramp and customer base expands.

• Ongoing cost optimization and new product launches expected to further improve profitability.

• H-share listing to enhance capital strength and global market presence.