Nari Technology - 2026Q1 - titanstockanalysis.com

NARI Technology (600406.SH) Q1 2026 Financial Highlights, Key Changes, and Outlook:

Financial Highlights:
- Operating Revenue:Reached ¥9.56 billion, representing a year-over-year increase of 7.52%.
- Net Profit:Net profit attributable to shareholders was ¥721 million, up 6.04% year-over-year.
- Deducted Non-Net Profit: Net profit excluding non-recurring items stood at ¥642 million, an increase of 5.39% year-over-year.
- Earnings Per Share:Basic EPS was ¥0.09.
- Cash Flow & Assets: Net operating cash flow was -¥1.51 billion due to seasonal procurement and project delivery preparations. Total assets reached ¥95.86 billion, reflecting a stable financial structure.
Key Changes:
- Steady Top and Bottom Line Growth: Maintained a stable upward trajectory in revenue and net profit despite broader industry growth normalization.
- Seasonal Inventory Build-up: Experienced temporary negative operating cash flow due to upfront procurement and production ramp-ups ahead of peak delivery seasons.
Next-Quarter Outlook:
- High Grid Investment Demand: Backed by continuous large-scale grid investments under national modernization and energy transition plans, domestic order execution is expected to remain robust.
- Accelerating Overseas Expansion: Growth momentum is increasingly supported by international smart grid transformation projects and emerging overseas power infrastructure orders.