Boer Power Holdings Limited (Boer Power) reported unaudited interim results for the six months ended 30 June 2026, highlighting a solid recovery in both top- and bottom-line performance.
Revenue rose 26.5% year on year to RMB 392.04 million, driven by robust demand in intelligent electrical management solutions (IEM) and components & spare parts (CSP). IEM Solutions contributed RMB 304.70 million, up 27.0% and representing 77.7% of total sales, while CSP Business added RMB 87.35 million, a 24.9% increase.
Gross profit expanded 25.6% to RMB 113.29 million, with overall gross margin holding at 28.9% (1H 2025: 29.1%). IEM Solutions maintained a margin of 30.4% (1H 2025: 30.6%); CSP margin slipped slightly to 23.5% (1H 2025: 24.0%).
Operating profit advanced 47.9% to RMB 27.30 million. Profit before tax jumped 84.8% to RMB 17.99 million, while net profit climbed 44.4% to RMB 11.25 million. Finance costs increased to RMB 9.31 million amid higher borrowings, which rose to RMB 285.78 million (31 December 2025: RMB 217.66 million), lifting the gearing ratio to 98.0% from 72.8%.
Cash and cash equivalents stood at RMB 77.95 million (31 December 2025: RMB 83.19 million). Net cash used in operating activities improved to RMB 132.68 million (1H 2025: RMB 169.44 million). Net assets totalled RMB 291.65 million, slightly lower than year-end 2025, reflecting dividend payments and currency translation losses.
Administrative and other operating expenses grew to RMB 55.56 million, mainly due to increased R&D spending. The company booked an impairment provision of RMB 3.25 million for receivables.
No interim dividend was declared. During the period Boer Power paid RMB 7.11 million in final and special dividends relating to FY 2025.
Management cited sustained investment in intelligent power distribution, data-center solutions and overseas expansion—particularly in Europe and Belt-and-Road markets—as growth drivers for the second half of 2026, while maintaining a “prudently optimistic” outlook amid global macroeconomic uncertainties.