Highlights
(Hong Kong, 31 August 2026) – Intron Technology Holdings Limited ("Intron Technology" or the "Group"; HKEX: 1760), a leading automotive electronics solutions provider in China, announced that the Group’s overall revenue increased by 15% year-on-year in the first half of 2026. The automotive electronics business delivered particularly strong performance, with revenue surging 99% against industry headwinds. Within this business, the electric mobility segment recorded particularly significant growth, rising 187% year-on-year and driving the Group to achieve steady growth during a period of profound industry adjustment.
For the six months ended 30 June 2026, the Group recorded steady overall performance, with revenue of RMB3.4 billion, representing year-on-year growth of 15%. Gross profit remained stable at RMB397 million, and gross profit margin was 11.7%. During the period, revenue from the automotive electronics business amounted to RMB1,277.1 million, accounting for 37.6% of total revenue and representing year-on-year growth of 99%. Revenue from the semiconductor solutions business amounted to RMB2,122.6 million, accounting for 62.4% of total revenue and representing a year-on-year decrease of 9%. The Group recorded EBITDA of RMB143 million in the first half of the year, representing a modest year-on-year change of 6%. During the period, profit attributable to shareholders decreased to RMB7.2 million, primarily due to a significant decrease in deferred tax assets recognized during the period compared to the corresponding period in 2025, with a fluctuation of 212%, which changed from a tax credit to a tax expense.
Mr Davy Luk, Chairman, Co-CEO and Executive Director of Intron Technology, said, "The restructuring of the automotive industry continues to accelerate amid widespread integration of electrification, intelligentisation and connectivity technologies. Core technologies of intelligent driving and new energy are rapidly penetrating the full industrial chain covering research and development (R&D), manufacturing and supporting components, giving rise to pronounced structural divergence across the sector. At the same time, emerging sectors such as embodied intelligence and AIDC are experiencing rapid growth. Against the backdrop of an overall industry downturn and increasingly fierce market competition, the Group delivered counter-cyclical growth, underpinned by precise strategic planning, a comprehensive business portfolio and continuous technological advancement, demonstrating its strong operational resilience and core competitive advantages."
For the automotive electronics business, in the first half of 2026, revenue from the electric mobility segment amounted to RMB992.6 million, accounting for 29.2% of total revenue and representing a year-on-year increase of 187%. The business maintained rapid growth and continued to achieve breakthroughs in areas such as product mass production and customer nominations. The Group’s independently developed core component, the motor control unit power brick, has reached industry-leading levels in key indicators such as power density, integration and reliability. As at the first half of 2026, the product was in the mass-production ramp-up phase, with capacity continuing to be released. It had been successfully adopted by domestic high-end new energy vehicle manufacturers for mass supply. Frame-based potting SiC power module achieved large-scale shipments, with power ranging from 100 kW to 500 kW. They are compatible with both 400V and 800V high- and low-voltage platforms and fully compatible with the entire lineup of models, including those with single-motor, dual-motor and P1-P3 range-extended configurations. The Group also achieved a breakthrough in developing an embedded SiC inverter brick, delivering further improvements in performance and cost control. The an embedded SiC inverter brick has passed AQG324 automotive reliability certification and entered customer project testing phase, with mass-production preparations expected to be completed by 2027.
The thermal management business maintained steady growth, recording revenue of RMB217.0 million, accounting for 6.4% of total revenue and representing year-on-year growth of 2%. The segment mainly comprises controller products such as smart thermal management actuators, PTC controllers and compressor air-conditioning controllers. The Group holds an industry-leading position in thermal management controllers.
During the Review Period, the smart mobility segment recorded revenue of RMB53.1 million, accounting for 1.6% of total revenue and representing year-on-year growth of 18%. In the first half of the year, the Group’s smart mobility business saw growth in both revenue and shipment volume as products such as wireless fast-charging controllers scaled up production. In the second half of the year, growth is expected to continue as production of domain controllers for new customers ramps up. The Group will continue to strengthen technological R&D and scenariobased application and accelerate the application of chassis systems, ZCUs, wireless charging systems and other products by the market, enabling the business to develop in a healthy, sustainable and high-quality manner.
For the semiconductor solutions business, revenue from the automobile-related solutions segment amounted to RMB1,807.9 million, accounting for 53.2% of total revenue and representing a year-on-year decrease of 10%. This was primarily due to slower growth in the new energy vehicle sector in the first half of 2026 and significant profitability pressure on downstream vehicle manufacturers. As the impact of the purchase tax adjustment for new energy vehicles gradually faded, sales of new energy vehicles began to improve, and upstream automotive semiconductor supply became increasingly tight, indicating a gradual recovery in market demand that should support an improvement in the related business.
Revenue from cloud server-related semiconductor solutions decreased slightly by 3% year-on-year to RMB247.7 million, accounting for 7.3% of total revenue, mainly due to the supply bottlenecks in semiconductors. Revenue nevertheless increased by 17% compared with the second half of 2025. Since the second quarter of 2026, the Group has strengthened supply security by entering into supply agreements with upstream and downstream partners. Revenue was RMB97.2 million in the first quarter and RMB150.5 million in the second quarter, representing quarter-on-quarter growth of 55%.
R&D is the core driving force behind the Group’s development strategy. During the period, the Group continued to consolidate its technological advantages through R&D while strategically positioning itself in emerging sectors such as embodied intelligence and AIDC. R&D expenses amounted to RMB274.7 million, representing a year-on-year increase of 25% and approximately 8.1% of revenue. As at 30 June 2026, the Group had 1,173 full-time R&D technicians, representing 73.2% of its total employees of the Group. The Group held 469 patents and 424 software copyrights, increasing by 49 and 55 respectively compared with the end of 2025.
In the AIDC sector, the Group actively collaborated with domestic computing chip manufacturers in the first half of 2026 to develop computing card solutions, including power supply and storage solutions based on domestic chips, achieving technical solution and business coverage across mainstream computing platforms. In embodied intelligence, the Group launched a 48V servo motor drive solution based on gallium nitride (GaN) technology that can be easily embedded in embodied-intelligence joints, end-effectors or mobile platforms, providing a key enabler for embodied intelligence OEMs to create compact, agile and smart embodied intelligence products. The Group also collaborated with Infineon, TASKING and Vector to release the DRIVECORE TC4 IT2 software solution, primarily for applications including the development of high-safety domain controllers and central computing platforms for highly reliable embodied-intelligence and unmanned transport vehicle control platforms. In the chassis sector, the Group collaborated with leading customers to develop controller systems such as steer-by-wire, while its high-voltage suspension system holds a leading position in China. At the same time, leveraging the Company’s capabilities in semiconductor applications, it is accelerating the adoption of domestically produced semiconductors in chassis.
The Group further enhanced its R&D testing capabilities. Its laboratory obtained multiple certifications and qualification upgrades and passed audits conducted by leading industry customers, enabling environmental, electrical-performance, vibration and salt-spray testing for ZCU projects to be completed in-house. Phase II of the Group’s pilot production base for electronic control power bricks in Nantong, Jiangsu has commenced construction and is planned to be commissioned within 2026. The project will expand and upgrade existing manufacturing workshops and the testing centre, further strengthening high-end R&D and manufacturing capabilities for electronic control PCBA and power bricks, while establishing a higher-standard laboratory to support continuous innovation and technological iteration. In the first half of 2026, the base successively introduced a variety of production and testing equipment and officially obtained certification for its electrostatic discharge protection management system.
Mr Eddie Chan, Co-CEO and Executive Director of Intron Technology, said, "As domestic demand for new energy vehicles recovers, the industry is expected to gradually return to stable growth. The Group will continue to increase R&D investment and further consolidate its leading competitive edge in the industry. Against the backdrop of accelerated electrification, intelligentisation and connectivity in the global automotive industry, the Group continues to consolidate its technological leadership, providing solid support for enhancing market competitiveness, expanding market reach and driving business growth. The Group will focus on its domestic market and deepen its operations therein to lay a solid foundation for long-term development, while accelerating the expansion of its global industrial footprint. Leveraging its core technological advantages, the Group will drive steady business expansion, achieve long-term sustainable growth and deliver greater investment value to shareholders."
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About Intron Technology Holdings Limited (1760.HK)
Intron Technology Holdings Limited is a leading automotive electronics solutions provider in China focuses on providing solutions targeting critical automotive electronic components applied in New Energy, Automated Driving, Connectivity, Body Control, Safety and Powertrain systems. The Group leverages its engineering and R&D expertise, combined with advanced semiconductor devices, to offer industry-leading productized solutions for customers, thereby fostering the sustainable development of Automotive Industry in China. Intron Technology has been included in the FTSE Global Equity Index Series ("GEIS").
For more information, please visit: www.intron-tech.com
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