Jifeng H1 Revenue Up 24%, Net Profit Up 137%, Orders RMB120 Billion, Launches Robot Unit

Jifeng released its H1 2026 semi-annual report on the evening of August 14. During the reporting period, the company achieved revenue of RMB13.078 billion, up 24.28% year-on-year, and net profit attributable to shareholders of RMB365 million, up 137.26%. In rounded terms, revenue grew 24% and net profit rose 137%. Against an industry backdrop of a 21.1% year-on-year decline in domestic vehicle sales, the company delivered steady operating growth, driven by the release of integration benefits from Grammer, implementation of cost-reduction and efficiency-enhancement measures, and the emergence of scale effects in its passenger-seat business.

Core subsidiary Grammer continued to improve operations, posting revenue of RMB7.769 billion in H1 2026, up 2.21% year-on-year, and net profit attributable to shareholders of RMB171 million, up 83.18%. The emerging passenger-seat business generated revenue of RMB4.179 billion, up 110.62% year-on-year, with high retention rates among core customers and new customer additions.

In June 2026, the company established a joint venture, Ningbo Jiqiao Intelligent Robot Co. , Ltd. , to enter the industrial intelligent robot sector. Currently, core processes such as seat sewing and assembly are highly dependent on manual labor. Labor shortages at home and abroad, high overseas labor costs, and insufficient production flexibility constrain the company's global expansion. Leveraging its own vast production scenarios, the company has a unique advantage in deploying robot applications at scale. Once the robot business is implemented, it can reduce costs, improve efficiency, and adapt to production fluctuations, while the company will also expand into market-oriented businesses externally.

On the robot business front, after completing production-line validation, the 7-axis dual-arm industrial robot will first achieve large-scale adoption within the group. Building on its precision manufacturing and human-machine engineering expertise accumulated in seat assembly, the company will expand into the general industrial robot market.