Shinry Technologies Co Ltd Class A

Shinry Technologies released its 2026 interim report on August 26, achieving a turnaround to profitability during the reporting period, driven by its core business in high-voltage electronic controls for new energy vehicles. The company reported operating revenue of 1.419 billion yuan, up 33.91 percent year on year. Net profit attributable to the parent company was 23.2796 million yuan, compared with a loss of 65.8851 million yuan in the same period last year. Non-recurring net profit attributable to the parent company was negative 31.0495 million yuan, narrowing by 59.75 percent year on year but still not turning positive. Net cash flow from operating activities was 189 million yuan, surging 486.73 percent year on year. On-board power integrated products were the core, generating revenue of 1.217 billion yuan, accounting for more than 85 percent of total revenue, up 21.08 percent year on year, with gross margin rising 1.44 percentage points to 12.59 percent. On-board DC-DC converter revenue was 172 million yuan, soaring 1,246.33 percent year on year, but gross margin fell to 7.25 percent. Fuel cell related product revenue was 8.5507 million yuan, down 53.70 percent year on year. The continued non-recurring net loss was mainly affected by an inventory write-down provision of 45.3819 million yuan, while investment income of 45.9853 million yuan supported profit but was not sustainable. Looking ahead, the company expects to gain share in the high-end market through its ninth-generation Ruihu platform and partnerships with companies such as XPeng, but it needs to be wary of gross margin pressure and accounts receivable risks.