Jiangsu Gian Technology Co Ltd

Jingyan Technology disclosed its 2026 semi-annual report on August 29. In the first half of the year, total operating revenue reached 1.606 billion yuan, up 13.52% year on year, but net profit attributable to the parent company was only 13.97 million yuan, a sharp year-on-year decline of 82.70%. Net profit after deducting non-recurring items was 2.43 million yuan, down 96.72% year on year, and net cash flow from operating activities was negative 368 million yuan, compared with negative 217 million yuan in the same period last year. Basic earnings per share were 0.08 yuan, and the weighted average return on equity was 0.63%. During the reporting period, non-recurring gains and losses totaled 11.53 million yuan, including 8.14 million yuan in fair value changes and 4.08 million yuan in government subsidies. As of the end of the first half, the company's cash and cash equivalents decreased by 64.88% from the end of last year, notes receivable and accounts receivable increased by 75.34%, and inventory increased by 56.1%.

Jingyan Technology released its 2026 interim report on August 28. Leveraging coordinated growth across its four major business segments—personal smart terminals, embodied intelligent devices, automotive, and data center AI hardware—the company maintained revenue growth thanks to volume expansion in emerging categories. However, due to declining gross margins in core businesses and exchange rate fluctuations, it faced a situation of rising revenue without rising profit, with operating cash flow under pressure. During the reporting period, the company achieved operating revenue of 1.606 billion yuan, up 13.52 percent year on year; net profit attributable to the parent company was 14 million yuan, down 82.70 percent year on year; non-GAAP net profit was 2 million yuan, down 96.72 percent; net cash flow from operating activities was negative 368 million yuan, with the net outflow widening 69.80 percent year on year. In terms of business structure, personal smart terminals remained the revenue pillar, generating 994 million yuan in revenue and accounting for more than 60 percent of the total, but gross margin fell 12.95 percentage points year on year to 27.71 percent. Among emerging businesses, embodied intelligent devices posted revenue of 337 million yuan, surging 77.48 percent year on year, with gross margin up 1.27 percentage points; data center AI hardware revenue reached 70 million yuan, up 38.03 percent year on year, with a slight gross margin increase. Although new businesses grew rapidly, they were not yet enough to offset the impact of declining gross margins in core operations, and continued losses at subsidiaries such as Antexin and Jingyan Sulian further dragged down performance. Looking ahead, demand for high-speed connectivity and liquid cooling driven by AI computing infrastructure investment offers growth opportunities, but the company faces multiple risks including global macroeconomic volatility, intensifying competition in the personal smart terminal replacement market, and rising raw material costs. The substantial increase in accounts receivable and inventory reflects mounting working capital pressure.

GIAN Technology released its 2026 interim report. Net profit attributable to the parent in the first half was 13.97 million yuan, down 82.7% year on year. Operating revenue was 1.61 billion yuan, up 13.5% year on year. Net profit attributable to the parent after deducting non-recurring items was 2.43 million yuan, down 96.7% year on year. Net operating cash flow was negative 368 million yuan, down 69.8% year on year. In the second quarter, operating revenue was 1.03 billion yuan, up 9.4% year on year, and net profit attributable to the parent was 63.69 million yuan, down 35.2% year on year. As of the end of the second quarter, total assets were 4.275 billion yuan, up 7.0% from the end of the previous year, and net assets attributable to the parent were 2.222 billion yuan, up 0.9% from the end of the previous year. The company is actively expanding in four core areas: personal smart terminals, embodied intelligent devices, automotive, and AI hardware for data centers. Among these, the scale of its AI glasses hardware and high-speed connector interface business for data centers continues to grow.