Autel Intelligent Technology Corp Ltd

Autel Technology released its 2026 semi-annual report, achieving operating revenue of 2.66 billion yuan, up 13.40% year on year. Net profit attributable to listed shareholders was 434 million yuan, and after excluding foreign exchange effects, non-GAAP net profit attributable to the parent was 502 million yuan, up 31.59% year on year. AI and software business became a new growth engine, with revenue of 332 million yuan, up 18.08% year on year, and gross margin exceeding 99%. AI industry application revenue was 13.18 million yuan, up 170.81% year on year. Net cash flow from operating activities was 673 million yuan, up 125.80% year on year. The company focuses on three business directions: digital intelligent vehicle diagnostics, smart charging, and embodied intelligent clusters. Globally, cumulative activated diagnostic device terminals exceeded 2 million units. In the first half, intelligent repair terminal revenue was about 1.64 billion yuan. Energy intelligent hub business achieved revenue of 637 million yuan, up 21.50% year on year. The embodied intelligent cluster business successfully won a bid for a local government infrastructure construction project, with a bid amount exceeding 10 million yuan.

Autel Technology announced plans to distribute a cash dividend of 5 yuan, tax included, for every 10 shares to all shareholders, with an estimated total payout of 332 million yuan, accounting for 76.49% of net profit attributable to the parent company. In the first half of 2026, the company achieved revenue of 2.66 billion yuan and net profit attributable to the parent company of 434 million yuan.

Autel Intelligent Technology released an earnings forecast, expecting to achieve operating revenue of 2.64 billion to 2.70 billion yuan in the first half of 2026, a year-on-year increase of 12.6% to 15.1%. The company expects net profit attributable to shareholders after deducting non-recurring items and excluding foreign exchange gains and losses to be 490 million to 520 million yuan, a year-on-year increase of 28.4% to 36.3%. Autel Intelligent Technology is accelerating its strategic transformation toward products plus AI services, with the renewal rate of its UltraS2 diagnostic terminal rising to 70%. During the reporting period, the company's AI and software business achieved overall operating revenue of approximately 332 million yuan, a year-on-year increase of about 18%.

Autel Technology announced that as of July 31, 2026, the company had repurchased 2.29 million shares, accounting for 0.34% of total share capital, with a total repurchase amount of 59.96 million yuan, at a price range of 25.31 yuan to 27.38 yuan per share. In the first quarter of 2026, the company achieved revenue of 1.299 billion yuan and net profit attributable to the parent of 195 million yuan.

Autel Technology disclosed during a survey that as of early July 2026, the company's embodied intelligence cluster business had orders in hand of approximately 16.8 million yuan, excluding tax. The business achieved operating revenue of 6.6 million yuan in 2025, with its current product portfolio covering multiple scenarios such as energy, transportation, and industrial parks. It adopts an architecture of embodied intelligent agents plus an AI application platform, featuring autonomous navigation and multi-scenario adaptability.

Autel Technology announced its first buyback of 1.14 million shares, accounting for 0.17% of total share capital, with a repurchase amount of 30.05 million yuan and a price range of 26 yuan to 27.38 yuan per share. In the first quarter of 2026, the company achieved revenue of 1.299 billion yuan and net profit attributable to the parent company of 195 million yuan.

Autel Technology disclosed its response to the inquiry letter on its 2025 annual report, publicly presenting details across multiple dimensions including subsidiary equity adjustments, overseas business operations, and financial reconciliation relationships. The previous three rounds of equity transfers for subsidiary Safedefend Technology strictly followed review procedures, with pricing based on third-party evaluations. As of the end of June 2026, transaction payments and overdue penalty fees of 787,400 yuan have been collected in full, of which the equity transfer payment of 24.42 million yuan was settled before August 2025. In 2025, the company achieved operating revenue of 4.773 billion yuan, with overseas revenue of 4.657 billion yuan, accounting for 97.56 percent. The gross margin in the North American market was 62.71 percent, while the domestic gross margin was 37.43 percent. The difference stems from high acceptance of product performance in overseas markets and cost advantages of overseas production bases. The Monterrey plant in Mexico has gradually taken over orders from the US market, leveraging the USMCA to achieve zero-tariff exports. Research and development investment was 874 million yuan, with a capitalization rate of 11.33 percent, lower than the industry average. Ending inventory balance was 1.668 billion yuan, with inventory aged within one year accounting for 87.9 percent, and inventory aged over one year provisioned for impairment at a rate of 40.5 percent. Counterparties for accounts receivable factoring transactions are all US banks, without recourse, and the post-period collection rate for accounts receivable at the end of 2025 was 99.76 percent. Ending cash and cash equivalents were 1.682 billion yuan, with an average yield on US dollar deposits of 1.76 percent, and interest-bearing liabilities mainly consisted of 1.213 billion yuan in convertible bonds and lease liabilities. In addition, the Orange case was won in January 2026, providing judicial validation of the core technology moat.