Shannon Xinchuang H1 Revenue Up 252% YoY, Net Profit Surges 2207%, Storage Business Becomes New Engine | Earnings Watch

Shannon Xinchuang reported H1 revenue of RMB 60.204 billion, with net profit attributable to shareholders of RMB 3.642 billion. The performance surge was driven by high growth in its distribution business and a significant contribution from its Haipu storage segment (revenue up nearly 10x YoY, with gross margin reaching 53.51%). Operating cash flow turned positive to RMB 5.731 billion, but total assets expanded sharply by 183%, with inventory, short-term debt, and notes payable climbing rapidly. The company also faces risks from high concentration in both suppliers and customers.