Sharetronic Data Technology Co.,Ltd. has released its first-half 2026 earnings report, delivering results that significantly exceeded market expectations and positioning the company as one of the most earnings-resilient A-share stocks amid the ongoing AI computing infrastructure buildout.

According to the company's announcement, revenue for the first half of 2026 reached RMB 12.523 billion, representing a year-on-year increase of 153.29%. Net profit attributable to shareholders of the listed company surged to RMB 1.838 billion, up 325.51% from the prior-year period. The profit growth rate substantially outpaced revenue growth, demonstrating a fully realized operating leverage effect at scale. Meanwhile, net cash flow from operating activities swung dramatically from a negative RMB 1.560 billion in the same period last year to a positive RMB 1.825 billion, with the qualitative improvement in cash generation capability further enhancing the credibility of these financial results.

Alongside rapid earnings growth, Sharetronic Data Technology Co.,Ltd. is advancing a series of major strategic initiatives: shareholders have approved a server procurement plan totaling no more than RMB 11 billion, the company launched a private placement of up to RMB 8 billion in June, and it invested RMB 510 million to take a controlling stake in optical chip company Guangwei Technology, accelerating its transformation into a comprehensive computing solutions provider.

Volume and Price Rising Together: Earnings Elasticity Exceeds Expectations

The RMB 12.523 billion revenue for the reporting period represents an increase of over RMB 7.5 billion compared with the RMB 4.944 billion recorded in the prior-year period, a substantial absolute gain. More notably, the net profit growth rate of 325.51% significantly exceeded the revenue growth rate of 153.29%, indicating that the company achieved meaningful improvements in gross margins or cost control during the period of rapid revenue expansion.

Net profit excluding non-recurring items reached RMB 1.846 billion, up 339.91% year-on-year and slightly higher than reported net profit itself, implying that non-recurring items were negative — meaning the company's earnings growth was entirely driven by core operations with no one-time income components.

The historic turnaround in operating cash flow is equally significant. In the prior-year period, operating cash flow was negative as the company was in a phase of large-scale inventory buildup and capacity investment, with funds tied up in inventory and accounts receivable. The swing to a positive RMB 1.825 billion this period indicates that earlier investments are beginning to convert into actual cash collections, marking a notable improvement in business model health.

Asset Base Doubles Within Six Months as Profitability Leaps Higher

On the balance sheet front, total assets expanded from RMB 23.8 billion at the beginning of the year to RMB 48.085 billion, doubling within six months. Net assets attributable to shareholders increased to RMB 6.062 billion, up 38.05% from the start of the year.

Profitability metrics improved in tandem. The weighted average return on equity reached 34.31%, an increase of 21.8 percentage points from the prior-year period. Basic earnings per share stood at RMB 3.80, up 322% year-on-year. These figures indicate that the company has entered a new phase characterized by simultaneous rapid expansion and efficient profitability.

RMB 11 Billion Procurement Combined with RMB 8 Billion Placement: Betting on the AI Computing Track

Behind the financial results, Sharetronic Data Technology Co.,Ltd. is executing a sweeping strategic expansion.

During the first half of the year, shareholders approved server procurement contracts totaling no more than RMB 11 billion, with purchases from multiple suppliers. This scale of procurement serves both as ammunition to meet surging downstream AI computing demand and as a key backdrop to the rapid expansion of total assets during the first half.

Meanwhile, the company launched a private placement of A-shares to specific investors in June 2026, planning to raise no more than RMB 8 billion for three primary purposes: the construction of the Sharetronic Data Intelligence Computing Center project, the data storage expansion and upgrade production project, and working capital replenishment plus bank loan repayment. This indicates the company intends not only to supply AI servers but also to build its own intelligent computing centers, transitioning from a hardware supplier to a computing services provider.

Taking Control of Guangwei Technology: Building a Full-Industry-Chain Layout

Beyond computing hardware, Sharetronic Data Technology Co.,Ltd. completed a strategically significant investment during the first half — investing RMB 510 million to acquire a 51% equity stake in Guangwei Technology (Guangzhou) Co., Ltd. through a capital increase, making Guangwei Technology a consolidated subsidiary.

The optical chip and optical module sector is a critical component of AI computing infrastructure, with demand for high-speed interconnect optical modules within data centers continuing to surge. By entering this space, Sharetronic Data Technology Co.,Ltd. aims to establish synergies across the "intelligent terminals + cloud computing + optical components" value chain, upgrading its positioning from a terminal manufacturer to a comprehensive computing solutions provider encompassing core components, terminals, and services.

Shareholder Reductions and No Dividend Distribution

As of the end of the reporting period, the company had a total of 82,493 ordinary shareholders. The largest shareholder, Sharetronic Intelligent Technology Co., Ltd., held 20.11%, overseas shareholder POWER CHANNEL LIMITED held 13.52%, and individual shareholder Ning Chen held 2.64%.

It is worth noting that POWER CHANNEL LIMITED reduced its stake by 14.532 million shares on April 24 through an inquiry-based transfer, representing 3% of total share capital, and remains the second-largest shareholder after the reduction. During the same period, certain directors and senior executives also made minor reductions of approximately 789,800 shares. Given that the company is in a phase of strategic acceleration, these reduction activities merit investor attention.

The company also announced that no profit distribution of any form will be made for the reporting period, with all cash retained to support continued expansion, consistent with its current aggressive capital expenditure pace.