Huaqin Co.,Ltd. (603296.SH) is scheduled to release its second-quarter financial report for 2026 on August 26th, 2026.
What are the performance expectations for Huaqin's second quarter?
As of July 3, 2026, data from the Choyang Yongxu quarterly performance forecast indicates projected revenue of 46.441 billion yuan, representing a year-on-year change of -5.1%. The forecast for net profit is 1.084 billion yuan, showing a year-on-year increase of 3.5%. Attention will focus on whether the actual disclosed results exceed these expectations, with the Choyang Yongxu A-share quarterly forecast data serving as a benchmark for investors.
Latest Analyst Perspectives on Huaqin
Yongxing Securities believes that as a globally leading intelligent product platform company, Huaqin Co.,Ltd. has been deeply involved in the smart product sector for over 20 years since its founding in 2005, offering full value-chain, end-to-end solutions. The company's operating revenue and net profit attributable to shareholders grew by 56.0% and 38.6% year-on-year respectively in 2025, and it continued to achieve year-on-year growth in both revenue and net profit in Q1 2026. The company is rapidly expanding in the AI computing infrastructure field, with the global data infrastructure market size expected to grow to 10,245.2 billion yuan by 2030 and the AI server market size projected to reach 7,507.7 billion yuan. Leveraging its server and switch technology capabilities, Huaqin Co.,Ltd. provides end-to-end solutions to capture the rapid growth opportunities of data infrastructure products in the AI era. Its super-node products are expected to contribute significant growth elasticity for data centers, with small-batch shipments starting in Q2 2026 and full-year revenue projected to exceed 10 billion yuan. By business segment: 1) Mobile terminal business: year-on-year growth exceeding 25%; 2) AIoT business: year-on-year growth exceeding 50%; 3) Laptop business: year-on-year growth exceeding 30%; 4) Data center business: rapid quarter-by-quarter growth in 2026, with high-speed growth anticipated in the second half; 5) Innovative business: revenue more than doubled year-on-year in Q1 2026; 6) Super-node products: small-batch shipments start in Q2 2026, with full-year revenue projected to exceed 10 billion yuan, positioning the company as an industry leader.
J.P. Morgan Securities notes that Huaqin Co.,Ltd. has updated its share capital model to reflect adjustments following a new share placement and stock dividend issuance for its Hong Kong listing. Despite this, the firm has maintained its profit forecasts unchanged, projecting net profits of 5.2 billion yuan and 6.8 billion yuan for 2026 and 2027 respectively, representing year-on-year growth rates of 28% and 31%. J.P. Morgan maintains an "Overweight" rating with a target price of 96.5 yuan for December 2026. This target price is based on 21 times the expected 2027 price-to-earnings ratio, approximately 10% higher than the industry average, reflecting Huaqin Co.,Ltd.'s strong growth prospects. (Note: The relevant profit forecast data in this article is sourced from the Choyang Yongxu profit forecast database.)
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