Ningbo Yongxin Optics Co Ltd

Yongxin Optics disclosed its 2026 semi-annual report on the evening of August 26. During the reporting period, it achieved operating revenue of 564 million yuan, up 28% year on year, and net profit attributable to shareholders of the listed company of 95.5241 million yuan. After excluding the impact of exchange rate fluctuations, core business profit grew by double digits or more. The optical components segment became the core growth engine, with first-half sales revenue of 386 million yuan, up 45.75% year on year. Within this, LiDAR business revenue more than doubled. The company has deep ties with global leading LiDAR companies such as Hesai, Innovusion, and Valeo, and has extended its technology to emerging scenarios such as service robots and unmanned delivery. The barcode machine vision business continued to deepen cooperation with leading customers such as Zebra and Honeywell, with complex modules delivered in batches, and it won Zebra's Best Supplier award. Medical optics and semiconductor optics maintained rapid growth, with revenue from core endoscope components rising quickly and sufficient order reserves for core subsystem components of lithography equipment. The microscope business achieved first-half revenue of 170 million yuan, up 3.13% year on year, with the sales share of high-end microscopes rising to 45%. The new-generation confocal microscope completed its iteration and secured multiple important orders. The company invested 160 million yuan to acquire a 20% stake in Jiangfeng Bio, becoming the second-largest shareholder and completing its footprint in the medical optics and high-end microscope segments. The company has achieved full coverage of high-end microscope products priced within 3 million yuan, with the localization rate of its commercialized four-color laser confocal microscope reaching 96%, and its domestic market share jumping from zero to 7%. The national major scientific instrument project led by the company, the Multimodal Nanoscale Resolution Microscope, passed its mid-term acceptance, advancing the industrialization of super-resolution imaging technology with sub-2-nanometer positioning accuracy. Going forward, the company will continue to adhere to its 3 plus 2 business layout and seize opportunities in the physical AI industry.

Yongxin Optics has adjusted its business layout to a 3+2 structure, consolidating its three core businesses of optical microscopes, barcode machine vision, and automotive LiDAR, while expanding into two emerging businesses: medical optics and professional optics. The company's 2025 revenue grew 8.25% year-on-year, with net profit attributable to shareholders of 220 million yuan, up 5.41% year-on-year. In the first quarter of 2026, revenue rose 20.13% year-on-year, but net profit attributable to shareholders was 46 million yuan, down 17.10% year-on-year, mainly due to exchange losses from US dollar depreciation and an increased share of low-margin barcode module products. Sales Director Xu Zuwei stated that these impacts are temporary and will be improved through efficiency gains and product mix optimization, while emerging businesses such as medical optics and professional optics are growing rapidly with high profit margins and will become new engines for future growth. In 2025, the company plans to distribute a cash dividend of 9 yuan per 10 shares, totaling approximately 100 million yuan, with the cash dividend payout ratio reaching 45.33% of net profit attributable to shareholders, the highest since listing.