NOVOSENSE (02676.HK): H1 Revenue Expected to Rise 66.7% to Approximately RMB 25.4 Billion, Attributable Net Profit Swings to Profit

NewTimeSpace News: On 13 August 2026, Suzhou Novosense Microelectronics Co., Ltd. (stock code: 02676) published its 2026 interim results forecast and impairment provision announcement pursuant to Rule 13.09(2) of the Listing Rules and the inside information provisions.

In respect of the results forecast, based on preliminary estimates by the finance department, the Company expects to record revenue of approximately RMB 254,000.00 ten-thousand yuan (approximately RMB 25.4 billion) in the first half of 2026, an increase of approximately RMB 101,633.52 ten-thousand yuan or approximately 66.70% year on year; net profit attributable to the owners of the parent company of approximately RMB 6,700.00 ten-thousand yuan, an increase of approximately RMB 14,501.00 ten-thousand yuan, swinging from a loss to a profit; and net loss attributable to owners of the parent company excluding non-recurring gains and losses of approximately RMB 4,800.00 ten-thousand yuan, narrowing by approximately RMB 5,764.03 ten-thousand yuan year on year. The forecast period is from 1 January 2026 to 30 June 2026, and the forecast has not been audited by registered accountants.

According to the announcement, the revenue growth is primarily attributable to: (1) on the demand side, benefiting from the recovery of domestic demand, the accelerated overseas expansion of PV/storage and automotive, and the surge in AI computing infrastructure demand, with customer demand growing rapidly in downstream automotive electronics, server power supply, PV and energy storage, and industrial automation, leading to a significant increase in shipment volumes; (2) on the product side, the Company continues to deploy product R&D around downstream application scenarios, with its semiconductor products and solutions matrix continuously enriched; and (3) on the market side, the Company's overseas business strategy continues to advance, with overseas customer revenue contribution steadily increasing. The non-recurring income mainly comprises fair value change gains of approximately RMB 9,400.00 ten-thousand yuan arising from the Company's indirect equity investment through a private fund. On a quarterly basis, net profit attributable to shareholders and net profit excluding non-recurring items both swung to profit in Q2 2026, expected at approximately RMB 10,273.65 ten-thousand yuan and RMB 676.96 ten-thousand yuan respectively. In H1 2025, revenue was RMB 152,366.48 ten-thousand yuan and net loss attributable to the parent was RMB 7,801.00 ten-thousand yuan.

In respect of impairment provisions, to truly and fairly reflect the Company's financial position as of 30 June 2026 and its operating results for the first half of 2026, the Company conducted a comprehensive review of relevant assets within the consolidation scope, and cumulatively provided for impairment losses of RMB 8,815.45 ten-thousand yuan in H1 2026, comprising credit impairment losses of RMB 1,615.67 ten-thousand yuan in aggregate (notes receivable bad debt provision of RMB (10.84) ten-thousand yuan, accounts receivable bad debt provision of RMB 1,533.98 ten-thousand yuan and other receivables bad debt provision of RMB 92.53 ten-thousand yuan) and asset impairment losses (inventory write-down provision) of RMB 7,199.78 ten-thousand yuan. The provisions reduced H1 2026 net profit attributable to the parent by RMB 8,815.45 ten-thousand yuan and correspondingly reduced the owners' equity attributable to the parent at period end by the same amount. The financial data in this forecast and impairment provisions have not been audited, and the Company's actual results for H1 2026 may differ from the information presented; further details will be disclosed in the interim results announcement expected to be published by the end of August 2026.

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