Gpixel Changchun Microelectronics Inc. (Gpixel) released its unaudited interim results for the six months ended 30 June 2026.
Revenue and Profitability • Revenue jumped 78.4% year-on-year to RMB 641.11 million, driven chiefly by industrial imaging demand. • Gross profit climbed 97.2% to RMB 440.48 million; gross margin improved to 68.7% from 62.2% in the prior-year period. • Profit for the period surged 193.8% to RMB 247.00 million. • Adjusted net profit (non-HKFRS) rose 127.2% to RMB 284.89 million.
Segment Performance • Industrial imaging contributed RMB 531.02 million, 82.8% of total revenue, up 101.7%. • Scientific imaging delivered RMB 101.52 million, up 13.8%, accounting for 15.8% of revenue. • Professional photography, video and medical imaging combined generated RMB 7.47 million. • Revenue from customised sensor solutions was RMB 5.83 million; contract liabilities for these projects reached RMB 205.90 million, signalling future revenue visibility.
Cost Structure and Expenses • Cost of sales increased 47.5% to RMB 200.64 million, trailing topline growth and supporting margin expansion. • R&D spending edged up 5.6% to RMB 91.51 million, representing ongoing investment in new sensor technologies. • Selling expenses fell to RMB 13.92 million from RMB 15.27 million on organisational streamlining. • Administrative expenses were RMB 47.29 million, a 6.6% rise largely tied to higher taxes and personnel costs. • A foreign-exchange loss of RMB 41.45 million linked to HKD depreciation against RMB inflated other expenses.
Balance Sheet and Liquidity • Cash, cash equivalents, restricted cash and time deposits totalled RMB 3.80 billion at period end, up from RMB 975.45 million at 31 December 2025, reflecting April’s Hong Kong IPO proceeds. • Net cash from operating activities rose to RMB 325.21 million from RMB 114.05 million. • Current ratio improved to 8.5 (31 Dec 2025: 4.6); gearing ratio remained low at 0.1%. • Capital expenditure reached RMB 72.90 million, including a new office building for an advanced CIS R&D centre.
IPO Proceeds Utilisation • Net IPO proceeds amounted to HK$ 2.88 billion. As at 30 June 2026, HK$ 163.80 million had been deployed, mainly for R&D and R&D centre construction. Full utilisation is planned by 2030.
Dividend • Shareholders approved a cash dividend of RMB 2.5 per 10 shares (total RMB 111.27 million) on 30 June 2026, paid 28 August 2026. The board did not propose an interim dividend for 1H 2026.
Outlook Management expects continued momentum in global industrial imaging, supported by AI-driven inspection and semiconductor expansion. Key strategies include accelerated sensor innovation, packaging-testing capacity build-out, overseas market penetration, and talent recruitment.
No significant investments, acquisitions or disposals occurred during the period, and the company reported no material contingent liabilities.
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