First Tractor 2026 Interim Results: Revenue Up 13.84%, Net Profit Up 1.72%, Interim Cash Dividend Announced

Bulletin Express09-18 20:42

First Tractor Company Limited reported 2026 interim revenue of RMB 7.89 billion, a 13.84% year-on-year increase, driven by stronger sales of mid- and high-horsepower tractors and a 47% surge in export volumes.

Net profit attributable to shareholders edged up 1.72% to RMB 782.29 million, while profit after excluding non-recurring items rose 23.39% to RMB 853.46 million. Basic and diluted EPS stood at RMB 0.6962.

Operating cash flow jumped 167.26% to RMB 1.06 billion, supported by higher sales receipts. Gross margin improved 57 basis points to 16.61%. R&D expenditure rose 2.29% year-on-year to RMB 217.85 million, representing 2.76% of revenue.

Segment data show the Agricultural Machinery division generated RMB 6.94 billion of external revenue, while Power Machinery contributed RMB 0.94 billion. The group sold 50,100 tractors in the half-year, up 17.05%, with market share gaining 2.77 percentage points. Export volumes reached 8,006 tractors.

The board declared an interim cash dividend of RMB 0.6962 per 10 shares (tax inclusive), totalling approximately RMB 78.23 million, payable subject to shareholder record date adjustments.

Total assets reached RMB 17.32 billion (+14.75% versus year-end 2025); the gearing ratio rose to 49.17%. Debt investments (mainly time deposits and certificates of deposit) expanded to RMB 6.02 billion.

Management reiterated its focus on product upgrades, overseas localisation, digital transformation and cost efficiency for the second half, while flagging demand uncertainty and raw-material price volatility as key risks.

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