Wasion Information H1 2026 Revenue Falls 22.02% to RMB1.067 Billion; Net Profit Down 33.68%

Wasion Information released its 2026 semi-annual report on August 16. During the reporting period, the company achieved operating revenue of RMB1.067 billion, down 22.02% year-on-year; net profit attributable to shareholders of the listed company was RMB202 million, down 33.68%; basic earnings per share were RMB0.41. The revenue change was mainly due to delayed customer tenders affecting first-half performance. By revenue structure, electricity monitoring terminals generated RMB441 million, communication gateways RMB261 million, communication modules RMB139 million, water/gas/heat sensing terminals RMB114 million, and smart utility management systems RMB103 million. Geographically, domestic business revenue was RMB796 million, while overseas business revenue was RMB263 million.

In terms of R&D investment, the company's R&D expenses in H1 2026 reached RMB109 million, accounting for 10.26% of revenue, up 2.71 percentage points year-on-year; R&D personnel totaled 422, representing 51.65% of total employees. As of the end of June 2026, the company held 767 valid patents, including 223 invention patents, 1,114 software copyrights, and 8 integrated circuit layout design rights. The company has deployed AI applications in scenarios such as transmission line fault location, icing, wildfires, lightning image and video analysis, voltage violation monitoring, and power quality analysis, and is pursuing AI plus edge computing, AI plus microgrids, and AI plus big data. It developed one of the country's first batches of high-performance, low-power dual-mode communication SoC chips and the first CPA-certified integrated sensing-communication-control device, a project that won the First Prize of the Hunan Provincial Science and Technology Progress Award. A new generation of power line carrier chips has completed tape-out and is undergoing field trials. The company also launched 10G to 1.6T full-scenario data center optical module prototypes and obtained eight domestic and international access qualifications.

In overseas business, overseas delivery of communication modules exceeded RMB50 million during the reporting period, up more than 18 times year-on-year. In Southeast Asia, the company achieved localized product delivery through its Indonesian factory; in the Middle East and Africa, it developed an integrated "energy plus water plus computing power" solution and established a new subsidiary in Morocco. The company's laboratory has obtained CNAS accreditation, and its ultrasonic water meter series has received international authoritative certifications including OIML, MID, and WRAS. As of the end of the reporting period, the company had signed new contracts worth RMB1.306 billion, with on-hand contracts of RMB3.823 billion. In the first half, 43 new products contributed 67.8% of revenue, provincial grid contract wins increased 160% year-on-year, and cumulative winning bids for distribution area governance and transmission line online monitoring exceeded RMB300 million.

Regarding shareholder returns, the company's proposed profit distribution plan for H1 2026 is no dividend and no capital reserve increase. For fiscal 2025, the company paid cash dividends of RMB268 million and repurchased shares for RMB150 million in cash, totaling RMB418 million, representing 62.75% of 2025 net profit. As of July 2026, since listing, the company has cumulatively distributed cash dividends of RMB1.227 billion and repurchased shares worth RMB499 million, with cumulative cash dividends and share buybacks totaling RMB1.726 billion.