INGDAN (00400) saw its shares rise over 6% during early trading, with cumulative gains for the month exceeding 60%. At the time of reporting, the stock was up 2.17%, trading at HK$3.29 with a turnover of HK$11.7532 million.
The company released its first-quarter 2026 results. During the reporting period, revenue reached approximately RMB 6.034 billion, a significant increase of 125.6% year-over-year. Revenue breakdown shows technology solutions accounting for 44.7%, distribution business for 54.8%, and self-developed products for 0.5%. Operating profit was about RMB 208 million, up 51.0% year-over-year. Driven by the synergistic growth in the high-growth sectors of AI computing power, storage, and robotics, the company's performance continued its robust growth trajectory.
Guosheng Securities published a research report stating that the rising global demand for large model training and inference is accelerating comprehensive investment in AI computing infrastructure, providing strong growth momentum for INGDAN's innovative technology solutions business. Concurrently, the rapid expansion of AI application scenarios is fueling sustained strong demand for memory and high-capacity storage chips, boosting the company's storage-related business. Furthermore, as humanoid robots and industrial automation in the domestic market enter a phase of large-scale implementation, demand for high-performance computing chips and embedded systems has increased significantly, further expanding the company's growth potential. The combined strength of these three high-growth sectors is driving the company's sustained high performance growth. The report forecasts revenues of RMB 28.56 billion, RMB 39.03 billion, and RMB 48.08 billion for 2026-2028, with attributable net profits of RMB 380 million, RMB 500 million, and RMB 640 million respectively. The "Buy" rating is maintained.
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