Baili Tianheng: Net loss of 775 million yuan in the first quarter.

Bailey Tianheng announced that in the first quarter of 2026, the operating income reached 94,586.8 million yuan, a year-on-year increase of 40.25%; the net profit attributable to shareholders of the listed company was a loss of 775 million yuan. The change in performance is mainly due to the impact of market demand, leading to an increase in revenue; an increase in research and development expenses leading to an increase in losses.