Edianyun reported a solid first-half rebound, swinging to a RMB 136.69 million net profit for the six months ended 30 June 2026 (H1 2026) from RMB 45.75 million a year earlier, a 198.8% surge. The performance was powered by accelerating demand for the group’s “office AI infrastructure” and tighter cost control.
Revenue rose 17.9% year on year to RMB 825.08 million, with 93.4% generated by pay-as-you-go office IT integrated solutions. Device subscription revenue climbed 23.1% to RMB 770.38 million, more than offsetting a 28.8% decline in device sales to RMB 48.34 million. SaaS and other services contributed RMB 6.36 million, up 9.1%.
Gross profit expanded 38.1% to RMB 397.63 million, lifting gross margin 7.0 percentage points to 48.2%. Pay-as-you-go solutions achieved a 50.9% margin versus 45.9% a year earlier, helped by greater uptake of higher-margin self-developed AI workstations, which accounted for 23.7% of new subscription revenue.
Operating costs were broadly contained: • Selling & marketing expenses fell 6.4% to RMB 76.07 million, cutting the sales-expense ratio to 9.2% (H1 2025: 11.6%). • R&D spend decreased 14.3% to RMB 25.69 million, while general & administrative costs rose 10.3% to RMB 47.02 million.
Adjusted net profit reached RMB 140.23 million (+174.0%), and adjusted EBITDA advanced 37.0% to RMB 527.60 million.
Key operating metrics underscored momentum: • Active customers increased 9.7% to 57,419, with core customers up 6.4% to 29,482. • Devices under service climbed 18.0% to 1.75 million; average devices per subscribing customer grew 7.4% to 30.4. • Net dollar retention improved to 101.5% (pay-as-you-go: 102.7%).
The balance sheet strengthened, with cash and cash equivalents up to RMB 687.27 million (31 December 2025: RMB 549.30 million). Gearing eased slightly to 175.5%, despite borrowings rising to RMB 1.93 billion to fund RMB 609.1 million in capital expenditure, mainly on rental computer devices and right-of-use assets.
During the period, Edianyun repurchased 17.34 million shares for HKD 50.12 million, taking treasury shares to 38.24 million pending cancellation. No interim dividend was declared.
Management signalled continued focus on expanding AI workstation offerings, strengthening subscription economics and deepening R&D to support SMEs’ adoption of edge AI computing in office environments.