AMEC’s First-Half Profit Jumps 300.22% to 2.825 Billion Yuan
Key Facts
China’s AMEC said net profit attributable to shareholders reached 2.825 billion yuan in the first half of 2026, up 300.22% year over year, according to its official interim report. Net profit excluding non-recurring items was 1.123 billion yuan, up 108.36% from the same period. Revenue growth, along with an increase in gross profit and investment gains, were among the factors the company cited to explain the rise in profit. The final results update preliminary estimates the company published in August, when it forecast profit attributable to shareholders of between 2.7 and 2.9 billion yuan. It had also estimated profit excluding non-recurring items at between 1.0 and 1.2 billion yuan.
The company’s revenue rose 34.89% year over year in the first half, while gross profit increased by about 682 million yuan, according to the interim report. In the first quarter, the company recorded revenue of about 2.915 billion yuan, up 34.13%, and net profit attributable to shareholders of about 930 million yuan, up 197.20%. Profit growth accelerated to 300.22% in the first half, while revenue growth remained close to the first-quarter pace. Comparing gross profit with adjusted profit highlights the importance of distinguishing business growth from gains on investment items when assessing results. The company said revenue growth and higher gross profit contributed to higher profit during the period.
Among its investment gains, the company said it sold part of its stake in Tuojing Technology, generating investment income of about 9.53 billion yuan. It also recorded gains from changes in the fair value of its equity investments and total investment gains of about 1.982 billion yuan in the first half. These figures put investment gains in the context of the sharp increase in net profit, alongside revenue growth and higher gross profit. By contrast, net profit excluding non-recurring items rose 108.36%, a slower pace than the 300.22% increase in overall net profit. The gap provides a more detailed view of the components of the company’s first-half performance.
Research and development spending totaled about 2.042 billion yuan in the first half, up 36.89% year over year, and accounted for about 30.52% of revenue. The company said more than 8,800 reaction chambers had entered mass production across more than 220 production lines in China and internationally by the end of June 2026. Development projects also cover six equipment categories and include more than 20 new devices under development. The figures link the expansion of the equipment base in mass production with continued spending on new product development. The company said it expects to accelerate the rollout of competitive devices in the coming years, while emphasizing that its future plans do not constitute a binding commitment.
The preliminary profit estimates published in August were unaudited, and the company said at the time that the precise figures would be determined in its first-half report. In the final interim report, it also stated that the report itself was unaudited. The profit and revenue figures cited here are therefore based on the interim report published in August, following the company’s preliminary estimates. The results presented cover the first half of 2026; these disclosures do not provide a basis for attributing figures or growth rates to the first nine months. The company noted that its equipment development projects cover six categories and more than 20 new devices, and said it expects to expand product rollouts in the coming years.