Recently, Crystal-Optech unveiled its semi-annual financial report for 2026, revealing a total operating revenue of 3.478 billion yuan for the first half of the year, marking a 15.15% year-on-year surge. Net profit attributable to shareholders reached 524 million yuan, up by 4.73% year-on-year, while net profit after deducting non-recurring items stood at 469 million yuan, reflecting a 5.03% year-on-year rise. Notably, the net cash flow generated from operating activities soared to approximately 721 million yuan, a substantial 44.13% increase compared to the same period last year.

From a quarterly perspective, the second quarter witnessed a total operating revenue of 1.757 billion yuan, a 14.26% increase year-on-year. However, net profit attributable to shareholders in the second quarter dipped by 0.77% year-on-year to 278 million yuan. Addressing the concern of profit growth lagging behind revenue growth, the company clarified during the earnings briefing that this was primarily attributable to heightened strategic investments in research and development, as well as talent acquisition, centered around the three major growth trajectories.

Strategically, 2026 signifies the inaugural year of the company's '15th Five-Year Plan' strategic blueprint. The company has delineated three core growth trajectories:

The first trajectory, encompassing consumer electronics and automotive optics, serves as the cornerstone of the business. In the first half of the year, the consumer electronics segment generated revenue of 2.918 billion yuan, a 14.73% year-on-year increase, with a gross profit margin of 32.00%, up by 2.48 percentage points year-on-year. In the automotive optics arena, HUD shipments have witnessed a notable uptick, and the inaugural LCOS AR-HUD mass production project is slated for exclusive deployment on Yijing Auto's inaugural model X9 in the third quarter of this year.

The second trajectory, AR optics, has witnessed the operationalization of the reflective light waveguide pilot line, which has successfully passed customer certification.

The third trajectory, AI optics, is currently in its incubation and expansion phase, with the company having assembled a dedicated international team for comprehensive planning in the first half of the year.

In terms of financial structure, the company's latest asset-liability ratio stands at 24.16%, with a gross profit margin of 31.68%. It is pertinent to highlight that the company's accounts receivable volume is relatively substantial in this reporting period, with accounts receivable representing 111.28% of the net profit attributable to shareholders as per the latest annual report.