Hygon Information Technology Co.,Ltd. (688041) released its third-quarter report for 2026, disclosing that in the first three quarters the company generated operating revenue of 14.955 billion yuan, up 57.58% year on year; net profit attributable to shareholders of the listed company reached 2.847 billion yuan, up 45.12% year on year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses came to 2.584 billion yuan, up 42.25% year on year; and basic earnings per share stood at 1.23 yuan, up 44.71% year on year.
On a single-quarter basis, the company recorded operating revenue of 5.856 billion yuan in the third quarter, up 45.46% year on year, while net profit attributable to shareholders of the listed company was 1.048 billion yuan, up 37.90% year on year.
Commenting on the performance growth, the company said that demand for domestic high-end chips has continued to climb, driven by factors including the rapid development of the artificial intelligence industry and the full shift of the localization process from policy-driven to market-driven. The company has continued to step up research and development investment, iterating and optimizing product performance around the general computing and artificial intelligence computing markets, holding a competitive edge in the high-end chip market and maintaining its market leadership, thereby achieving sustained performance growth.
On the research and development front, the company invested a total of 4.472 billion yuan in the first three quarters, up 52.39% year on year, with R&D spending accounting for 29.90% of operating revenue. The company said the increase in R&D investment was mainly due to continued efforts to strengthen research into key core technologies and forward-looking technologies, alongside rapid expansion of its R&D workforce; at the same time, the implementation of a restricted stock incentive plan led to a relatively large year-on-year increase in share-based payment expenses, while the rapid iteration of new products also drove a corresponding rise in costs related to R&D testing and verification. Excluding the impact of share-based payments, net profit attributable to shareholders of the listed company was 3.586 billion yuan, up 76.90% year on year.
In terms of cash flow, net cash flow from operating activities in the first three quarters was -2.443 billion yuan, down 208.35% year on year. The company said that in order to align with its market sales plans, ensure supply capacity and seize market opportunities, it expanded its inventory scale in line with its business strategy, and spending on raw material procurement rose significantly year on year, resulting in the year-on-year decline in net cash flow from operating activities.
As of the end of the reporting period, the company's total assets stood at 40.688 billion yuan, up 14.17% from the end of the previous year, while owners' equity attributable to shareholders of the listed company was 26.423 billion yuan, up 17.47% from the end of the previous year.
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