AAC Technologies H1 2026 net profit edges up 2.9pc to 901m yuan

AAC Technologies (2018), a consumer‑electronics component maker, posted a 2.9 percent rise year-on-year in its first-half net profit to 901 million yuan (HK$1.05 billion), despite smartphone headwinds from higher memory prices.

The Apple supplier’s revenue reached a record high of 14.51 billion yuan with a growth of 8.9 percent. The gross margin stood at 22.4 percent, up by 1.7 percentage points, primarily driven by a more favorable product mix and higher operational efficiency. 

Revenue from its heat dissipation business increased fourfold to 1.1 billion yuan, while that from optics business dipped 22.7 percent to 2.05 billion yuan due to lower shipment volumes of camera modules and lenses amid declining global smartphone sales, according to its filing document.

At the press conference, managing director Richard Mok said that the year‑on‑year improvements in revenue, gross margin and net profit showed the company had properly navigated memory‑related industry challenges.

The company did not declare an interim dividend. 

Notably, research and development expenses in the first half year were 1,211 million yuan, up 21.4 percent. It increased investments in key areas supporting potential future high growth, such as heat dissipation, AR/VR products and other future AI-enabled devices to advance sustainable technology strategies, explore new revenue‑generating products and expand its intellectual property portfolios.

Meanwhile, the company is expanding its robot system business, with relevant projects expected to enter mass production by the end of 2026, since it has delivered the core structural components of Honor’s "Lightning" humanoid robot, winner of the Beijing robot half-marathon.

It will capitalize on emerging strategic opportunities for a new growth curve with 10-billion-yuan-scale revenue potential, including edge AI hardware, data center liquid cooling, extended reality (XR), robotics and intelligent cockpits, the company said.

Going forward, these new-growth areas are expected to far outpace those legacy segments, Mok added.

Shares of AAC Technologies closed 6.01 percent lower at HK$39.12 on Thursday.

Frank Feng

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