Chongqing Sokon Industry Group Stock (09927) released its interim results, with revenue of 57.419 billion yuan and operational resilience remaining strong.

Chongqing Sokon Industry Group Stock (09927) released its interim results for the six months ended June 30, 2026, reporting revenue of 57.419 billion yuan, a year-on-year decrease of 7.9%; the loss attributable to the owners of the company in this period was 1.717 billion yuan, compared to a profit of 2.941 billion yuan in the same period last year; basic loss per share was 0.99 yuan. Short-term performance under pressure, but operational resilience remains strong In the first half of 2026, faced with rising prices for upstream raw materials, the company adhered to the "five high standards" of "high safety, high reliability, high performance, high quality, and high value" in manufacturing high-end vehicles, refusing to transfer costs by lowering the quality standards of components, and maintaining the high-end supply chain standards recognized by the market. This led to phase-specific pressure on operating profits in the first half of the year. During the reporting period, the company's gross profit margin was 21.8%, a decrease of 4.7 percentage points year-on-year. Meanwhile, as the industrial transformation continues to deepen, innovation in automotive technology is entering a new stage of parallel breakthroughs across multiple paths, with L3 being the necessary path for large-scale commercialization of autonomous driving in passenger vehicles. In this context, the company recognized impairment losses on certain existing assets with limited adaptability. The combination of these two factors has squeezed the company's profits. For the reporting period, the profit attributable to the owners of the company was a loss of 1.717 billion yuan. Although the short-term performance faces challenges, the company's operational resilience remains strong. In the second quarter of 2026, the company had an inventory turnover period of approximately 7.5 days, significantly lower than the industry average for automotive companies, fully reflecting the operational efficiency advantages brought by the company's "sales-based production" model and intelligent manufacturing synergies. As of the end of the reporting period, the company had cash reserves exceeding 73.148 billion yuan, accounting for 57.0% of total assets, with interest-bearing liabilities accounting for only 3.2% of the company's total assets. All interest-bearing liabilities are loans, of which only 398 million yuan is due within one year. The company's financial structure is healthy, with abundant cash reserves, low debt pressure, and a strong ability to resist risks and sustain development. Additionally, the company's properties, factories, and equipment amount to 15.685 billion yuan, accounting for approximately 12.2% of total assets. The turnover rate of properties, factories, and equipment is about 3.6 times, which not only enhances asset operational efficiency but also reduces operational leverage risk, allowing for more resources to be allocated to R&D and core business, thus providing greater financial resilience amidst intensified industry competition. Adhering to technology-driven approaches to promote the conversion of core achievements Solid operations and a healthy financial structure have provided a guarantee for the company to increase its technological investment and advance the transformation of technological achievements. In the first half of 2026, the company achieved new breakthroughs in multiple technological fields, including underlying architecture, core systems, experience innovation, AI, and digital intelligence applications, relying on a unified platform technology base. In terms of underlying architecture, the company has built a multidimensional redundant electronic and electrical architecture featuring a "full-domain brain + backup small brain." Through the synergy between central computing and regional control, it can achieve global scheduling of computing power, flexible arrangement of functions, and safety redundancy across all scenarios, supporting the continuous evolution of the vehicle throughout its lifecycle while providing a common technological base for expanding into cutting-edge technology fields. In core systems, breakthroughs have been achieved in 800V high-voltage platform technology for extended-range and pure electric vehicles, enabling mass production of 2.0T high-power range extenders and high-performance tri-motors, complemented by an intelligent chassis composed of steer-by-wire, rear-wheel steering, and fully active suspension, delivering excellent power output and driving performance for users. On the body side, several new materials have been utilized, including 2200MPa hot-formed steel, 7 series aluminum alloy bumpers, and semi-solid magnesium alloy dashboard crossbeams (CCB), while simultaneously establishing a five-layer, twenty-two-fold safety protection system for the power battery, further enhancing the vehicle's lightweight and safety levels. In experience innovation, the industrys first holographic spatial perception network has been launched, achieving all-dimensional spatial perception within the cabin. This is paired with innovative designs such as zero-gravity seats 3.0, surround privacy dimming glass, flat swivel seats, and a fully active onboard oxygen generation system, supporting flexible switching of cabin space scenarios and providing users with a more comfortable and healthy cabin experience. At the same time, the company is accelerating the engineering application of AI technology, utilizing big data to assist in forward design, perfecting the automated testing loop, and continually enhancing R&D efficiency and delivery quality. The self-developed R&D digital intelligence platform can improve R&D efficiency by more than 30%. Remote calibration technology combined with AI algorithms has increased the quality of calibration data by over 5%, with calibration efficiency improved by more than 50%.