BaTeLab Co., Ltd. released its unaudited results for the six months ended 30 June 2026 (1H26), highlighting resilient top-line expansion and margin improvement despite forex headwinds.

Revenue reached RMB335.90 million, up 15.2 % year-on-year (YoY). Gross profit rose 19.6 % to RMB180.61 million, lifting the gross margin to 53.8 % from 51.8 %. Profit for the period jumped 38.2 % YoY to RMB106.64 million, and basic earnings per share increased to RMB1.693.

Product mix remained focused on power-management chips (85.7 % of revenue), which grew 9.4 % to RMB287.88 million. Signal-chain products expanded 67.8 % to RMB48.01 million, reflecting stronger demand from industrial and new-energy customers.

Direct sales advanced 60.8 % to RMB107.13 million, representing 31.9 % of total revenue, while distributor sales inched up 1.6 % to RMB228.77 million.

Cost of sales climbed 10.3 %, below revenue growth, underpinning margin gains. R&D expenditure decreased 7.1 % to RMB52.44 million as machine-learning design tools cut wafer verification costs. Administrative expenses fell 6.6 % to RMB14.15 million, whereas distribution costs rose 15.4 % to RMB4.53 million on customer-expansion efforts.

A RMB12.04 million foreign-exchange loss, driven by RMB appreciation against the US dollar, trimmed other income and reduced total other gains to RMB1.36 million (1H25: RMB6.83 million). Finance costs declined 17.6 % to RMB4.21 million on lower bank-loan interest.

Total assets stood at RMB1.93 billion, with net assets of RMB1.39 billion. Cash and cash equivalents were RMB471.26 million, down 13.8 % from year-end, mainly due to higher prepayments for wafers and equipment. Short-term bank borrowings increased to RMB375.73 million, taking the gearing ratio to 27.7 %. Inventories rose 9.3 % to RMB510.62 million, while prepayments grew 19.1 % to RMB556.38 million.

Capital expenditure reached RMB59.28 million, largely for lithography and R&D equipment. Outstanding capital commitments were RMB14.60 million.

Since its December 2023 IPO, BaTeLab has deployed HK$189.80 million of the HK$354.10 million net proceeds, leaving HK$164.30 million to be spent mainly on product-portfolio expansion, customer-base growth and strategic investments.

Under the 2024 Restricted Share Unit Scheme, 371,876 RSUs remain unvested; no new grants were made in 1H26.

The board declared no interim dividend. Management reiterated its strategy of focusing on high-end industrial-grade analog ICs and securing wafer capacity to capture growth from AI infrastructure and energy-transition demand.