IMOTIONTECH (iMotion Automotive Technology (Suzhou) Co., Ltd.) released its unaudited results for the six months ended 30 June 2026, showing rapid top-line expansion and a sharply reduced loss thanks to accelerated mass production of advanced driver-assistance system (ADAS) products.
Revenue and Profitability • Revenue doubled to RMB 760.50 million, up 107.79% year on year, driven by strong shipment growth of ADAS domain controllers and intelligent front cameras. • Gross profit soared 441.20% to RMB 92.40 million, lifting gross margin to 12.15% (H1 2025: 4.67%). • Loss before tax contracted 69.71% to RMB 53.88 million; loss attributable to shareholders fell 70.21% to RMB 53.01 million. Basic and diluted loss per share narrowed to RMB 0.21 from RMB 0.75.
Segment Performance • ADAS solutions and products remained the core revenue pillar, contributing RMB 664.14 million, up 102.79% and accounting for 87.33% of total sales. – Domain controllers: RMB 547.36 million, +85.92% YoY. – Intelligent front cameras: RMB 116.78 million, +252.92% YoY. • Autonomous driving R&D services slipped 30.75% to RMB 17.86 million, reflecting project mix. • Sales of PCBA and auxiliary materials jumped 516.56% to RMB 78.35 million, representing 10.30% of total revenue.
Operational Highlights • Shipments of ADAS products reached over 289,000 units, a 149.14% YoY increase, lifting cumulative deliveries since 2020 to more than 1.12 million units. • Secured 37 new project nominations from OEMs including Chery, GAC, Leapmotor, Geely Auto and Dongfeng, nearly doubling the prior-year tally. • Achieved mass production of the iDC310 (Horizon Journey 6B platform) and iDC510 Pro (Journey 6M) domain controllers; delivered Level 4 iDC700 controllers for unmanned logistics vehicles. • Filed the proprietary “iMotion” large model for generative AI services in Jiangsu, targeting enhanced perception and decision-making for intelligent driving.
Cost Structure and Expenses • Cost of sales grew 91.47% to RMB 668.09 million, lagging revenue growth and supporting margin expansion. • R&D spend declined 37.23% to RMB 98.26 million as headcount optimization and tighter project control took effect; R&D now equals 12.92% of revenue versus 42.77% a year earlier. • Selling expenses dropped 32.16% to RMB 7.10 million; administrative expenses rose 30.68% to RMB 40.99 million amid organizational expansion.
Balance Sheet and Cash Flow • Cash and cash equivalents stood at RMB 266.82 million at period-end. • Net current assets reached RMB 641.36 million (31 Dec 2025: RMB 609.85 million). • Inventories increased 31.64% to RMB 383.79 million, reflecting preparation for upcoming deliveries; inventory turnover improved to 91 days from 149 days in 2025. • Total borrowings expanded to RMB 685.19 million, pushing gearing to 85.37% (31 Dec 2025: 40.37%). • Net operating cash outflow widened to RMB 238.30 million, mainly due to higher procurement for inventory build-up; investing activities generated RMB 63.96 million net inflow; financing activities provided RMB 184.84 million.
Capital Expenditure and Funding • Capex reached RMB 89.98 million, down 27.69% YoY after completion of major plant construction in 2025. • Remaining unutilized proceeds of HKD 21.55 million from the February and July 2025 share placings are earmarked for overseas network expansion and robotics R&D/M&A, targeted for deployment by end-2026. • During H1 2026 the company repurchased 3.63 million H shares for HKD 16.03 million, which are held as treasury shares. No interim dividend was declared.
Strategic Developments Management outlined plans to deepen ADAS commercialization, sustain R&D in end-to-end and VLA models, expand overseas—particularly in Japan and Southeast Asia—and accelerate entry into embodied-intelligence markets such as automated charging robots. A new 2026 H Share Award Scheme will be submitted to shareholders for approval to align employee incentives with long-term growth.
Compliance and Governance The company reported full compliance with Hong Kong’s Corporate Governance Code, save for the combined roles of chairman and CEO held by Mr. Song Yang, a structure the board considers appropriate for operational efficiency.
No material events requiring disclosure occurred after 30 June 2026.