EACON (07687) reported a year-on-year gross profit increase of 844.3% in the first half of the year, with a market share exceeding 53%, firmly maintaining its leading position in the industry.

On August 26, EACON (07687) released its interim financial results for 2026. In the first half of the year, amidst a shift in business model and revenue recognition rhythm, the company's operational quality continued to improve, with fleet size, business model, and market structure upgrading in sync. The company achieved revenue of 549 million RMB; gross profit of 104 million RMB, a year-on-year increase of 844.3%; gross profit margin of 18.9%, an increase of 17.2 percentage points year-on-year; and a loss of 189 million RMB for the period, narrowing by 20.2% year-on-year; adjusted loss was 168 million RMB, narrowing by 22.2% year-on-year. In terms of scale, as of the end of the reporting period, the company had over 3,100 autonomous mining trucks in operation, nearly doubling from over 1,600 on June 30, 2025; in addition, more than 1,000 trucks have been ordered and are in the delivery process. According to industry data, as of June 30, 2026, the total number of autonomous mining trucks operating in China is approximately 6,000, with the company holding over 53% market share based on operating vehicle numbers. The scale of projects is also expanding. The company's solutions have served 38 mines, an increase of 12 compared to the same period last year; among these, 9 mining areas have fleets of over 100 trucks, and 4 mining areas have fleets of over 200 trucks, with the largest single mine reaching 566 trucks. The regular operation of large-scale fleets imposes higher requirements on algorithm stability, scheduling capability, delivery efficiency, and operational services, reflecting the company's shift from single-point project delivery to large-scale commercial deployment. In terms of business model, the company's transformation to a light-asset model has made progress. As of the end of the reporting period, out of the autonomous mining trucks in operation, about 600 used the fleet model provided by the company, while approximately 2,500 used the fleet model provided by customers. Based on total group revenue, the revenue share from the customer-provided fleet model increased from 62.7% in the same period of 2025 to 65.6%. The division of responsibilities for vehicle assets, scene resources, and technical services between mining companies or their contractors and the autonomous driving company has become clearer. In the high-value market, the company has made substantial progress on its Australian project in collaboration with Zijin Mining Group's Norton Goldfields, with the first batch of 6 mining trucks equipped with the company's autonomous driving solution entering real production at the Havana open-pit gold mine in the Kalgoorlie region of Western Australia. This project has become the first autonomous mining truck project to enter a real production environment in the Kalgoorlie gold mining area, and the company has become the first third-party autonomous driving solution provider to achieve deployment in Australia. In the metal mining field, the company deployed 60 autonomous mining trucks at Zijin Mining Groups Julong Copper Mine in May 2026, establishing the largest autonomous project in the metal mining industry for a single mine. As of the end of the reporting period, the company has served 5 metal mining projects in the Chinese market, covering Julong Copper Mine, Zijin Mountain Gold-Copper Mine, Shougang Water Plant Iron Mine, Shougang Dashi River Iron Mine, and Chongqing Steel Xichang Iron Mine. In terms of technology and products, the company participated as a secondary completion unit in the project "Key Technologies and Applications for Green, Intelligent, Safe, and Efficient Mining in Large Open-Pit Mines," which won the second prize of the 2025 National Science and Technology Progress Award on July 8, 2026. This was the first time the National Science and Technology Progress Award was granted to an autonomous driving project; the self-developed IMRv2 won first place in both the interactive prediction and trajectory prediction competitions of the Waymo Open Motion Dataset. As of the end of the reporting period, the company has obtained 284 authorized patents in China and filed 44 PCT applications. The company stated that it will continue to deepen its focus on autonomous driving in mines, promote the replication of metal mine projects and coverage of extremely complex scenarios; expand overseas markets relying on the Australian demonstration project; advance the application of end-to-end algorithms, autonomous driving world models for mines, and AI Agents in delivery and mining area operations, and strengthen cooperation with manufacturers in the areas of pre-installation mass production and new generation autonomous mining truck products.