AAC Technologies (AAC Tech) reported a record revenue of RMB 14.51 billion for H1 2026, an 8.9% year-on-year increase, driven by robust demand in acoustics, electromagnetic drives, automotive acoustics, and heat-dissipation products.
Gross profit reached RMB 3.24 billion, lifting the gross margin by 1.7 percentage points to 22.4%, supported by a richer product mix and improved operating efficiency. Net profit attributable to shareholders edged up 2.9% to RMB 901.30 million, and underlying net profit—excluding fair-value movements—expanded 37.4%.
Segment performance showed: • Acoustics & Electromagnetic Drives revenue up 14.2% to RMB 6.01 billion, with gross margin at 28.6%. • Automotive Acoustics revenue surged 23.1% to RMB 2.23 billion; gross margin slipped to 20.1% amid raw-material cost pressure. • Precision Mechanics & Heat Dissipation revenue climbed 12.5% to RMB 3.25 billion, as heat-dissipation sales quadrupled to RMB 1.10 billion; segment gross margin improved 4.1 ppts to 23.1%. • Sensor & Semiconductor revenue rose 41.0% to RMB 858 million; gross margin gained 2.5 ppts to 14.6%. • Optics revenue fell 22.7% to RMB 2.05 billion, yet ASP gains kept gross margin flat at 10.2%.
Operating cash flow stood at RMB 1.91 billion. Free cash flow declined to RMB 877.23 million after RMB 1.23 billion in capex. Cash and short-term deposits totaled RMB 7.07 billion, while net gearing remained low at 4.7%.
The company completed the first tranche of its Dispelix acquisition and bought 51% of Yuandi, adding AR optics and liquid-cooling capabilities. Contingent consideration payables linked to these deals totaled RMB 43.99 million.
Management affirmed a final-only dividend policy at a 15% payout ratio and reiterated focus on AI hardware, liquid cooling, XR, robotics and smart-cockpit markets.
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