HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for
The First Quarter 2026
The Company and whole members of the Board of Directors guarantee that the information disclosed
is factual, accurate and complete, and there is no false record, misleading statement or material omission.
Important content reminder:
CO., LTD. ( hereinafter referred to as “the Company”) warrant the factuality, accuracy and
completeness of this Report and there is no false record, misleading statement or material omission. And
they will be severally and jointly liable for this Report.
the person in charge of accounting department of the Company warrant that the financial information
in this Report is factual, accurate and complete.
□Yes √No
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
I. Main financial data
Indicate by check mark if there is any retrospectively restated accounting data of previous years.
□Yes √No
The same period of Increase/Decrease over the
Current period
previous year same period of previous year
Operating Revenue (RMB) 576,130,719.61 700,025,064.80 -17.70%
Net profit attributable to parent company’s
shareholders (RMB)
Net profit after deducting non-recurring
profit or loss attributable to shareholders of the 68,791,432.53 140,242,465.19 -50.95%
parent company (RMB)
Net cash flow from operating activities (RMB) 3,640,428.14 -40,463,557.49 109.00%
Basic earnings per share (RMB/share) 0.0769 0.1478 -47.97%
Diluted earnings per share (RMB/share) 0.0769 0.1465 -47.51%
Weighted average return on equity 1.86% 3.88% -2.02%
At the end of this Increase/decrease of Mar 31,
At the end of last year
reporting period 2026 over Dec 31, 2025
Total assets (RMB) 7,232,094,893.14 7,302,850,291.57 -0.97%
Total equity attributable to shareholders of the
parent company (RMB)
√ Applicable □Not applicable
Unit: RMB
The amount for the
Item Note
reporting period
Profit or loss from disposal of non-current assets (including the write-off of accrued
-2,915.36
for impairment of assets)
Governmental subsidy reckoned into current gains or losses (excluding the subsidy
enjoyed in quota or ration according to the unified national standards, which are 2,292,817.36
closely relevant to enterprise’s business)
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
Profit or loss arising from the changes in the fair value of financial assets, financial
liabilities by non-financial enterprises, as well as investment income from the Income from cash
disposal of financial assets and financial liabilities, except effectively hedging management
business related to normal business operations of company.
Other non-operating income and expenses other than the above -11,980.53
Less: Impact on income tax 411,920.07
Impact on minority shareholders’ equity (after tax) 287,623.47
Total 9,619,102.83 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit
(gains)/losses.
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss.
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”
defined as recurring gain/loss.
reasons.
Mar 31,2026 Dec 31,2025
Consolidated Balance Sheet items Change Reasons for the changes
(RMB) (RMB)
Cash and cash equivalent 59,853,741.24 123,312,905.58 -51.46% Mainly due to cash management activities.
Due to the increase in the amount of bank
Financing receivable 65,416,062.24 41,257,668.78 58.55% acceptance bills with higher credit rating at the
period end.
Increase in ending balance of share dividends
Other receivables 34,069,460.69 24,727,232.15 37.78%
receivable.
Thereof: Dividend receivable 9,217,655.70 The same as above.
The receivable quality guarantee decreased
Contract assets 117,620,177.95 192,614,086.16 -38.93%
compared with the end of the previous year.
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
The Company’s real estate purchased for
Construction in progress 15,834,590.04 -100.00% industrial service business reached a usable state
and transferred to fixed assets.
The long-term product quality guarantee
Other non-current assets 22,831,545.63 14,547,719.70 56.94%
increased compared with the opening balance.
Mainly due to the subsidiary repaid part of the
Short-term loans 31,000,000.00 48,045,233.34 -35.48%
bank loan in this period.
Issued a bank acceptance for settlement this
Notes payable 2,325,819.00
period.
The year-end bonus accrued at the end of the
Employee benefits payable 22,380,734.73 80,441,917.83 -72.18% 2025, which was paid this period, and the balance
decreased.
The value-added tax and corporate income tax
Taxes payable 7,535,204.77 28,027,949.35 -73.12%
payable at the end of the period decreased.
The interest accrued on bonds(convertible
Non-current liabilities due within one year 4,497,587.03 3,246,728.70 38.53% corporate bond) payable due within one year
increased.
Consolidated Income Statement items from Jan 1 to Mar 31,2026 Jan 1 to Mar 31, 2025
the beginning of the year to the end of the Change Reasons for the changes
(RMB) (RMB)
reporting period
The value-added tax payable in this period
Taxes and surcharges 4,282,146.45 8,347,845.14 -48.70% decreased year-on-year, and the taxes and
surcharges also decreased accordingly.
The subsidy income and the additional deduction
Other income 2,884,907.91 5,411,503.71 -46.69% amount for value-added tax in this period
decreased year-on-year.
Jointly influenced by the investment income
Investment income (loss is stated with “-”) 908,279.84 10,149,482.64 -91.05% accrued in associates and income from cash
management activities decreased this period.
Thereof: Income from investment in The investment income accrued in associates
associates and joint ventures decreased this period.
Gains from changes in fair value (loss is
stated with “-”)
For details, refer to the explanation following this
Operating profit (loss is stated with “-”) 96,415,718.61 182,206,446.74 -47.08% table regarding the decline in revenue and profit
for the current period.
For details, refer to the explanation following this
Total profit (loss is stated with “-”) 96,403,738.08 182,206,995.26 -47.09% table regarding the decline in revenue and profit
for the current period.
The total profit decreased year-on-year, and the
Income tax expenses 10,472,098.07 24,654,890.82 -57.53% corporate income tax expense also decreased.
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
For details, refer to the explanation following this
Net profit (loss is stated with “-”) 85,931,640.01 157,552,104.44 -45.46% table regarding the decline in revenue and profit
for the current period.
For details, refer to the explanation following this
Net profit attributable to parent company’s
shareholders(loss is stated with “-”)
for the current period.
Consolidated Cash Flow Statement items Jan 1 to Mar 31,2026 Jan 1 to Mar 31, 2025
from the beginning of the year to the end Change Reasons for the changes
(RMB) (RMB)
of the reporting period
Mainly due to the increase in cash received from
sales of goods or rendering of services, combined
Net cash flows from operating activities 3,640,428.14 -40,463,557.49 109.00%
with a decrease in payments of taxes and
surcharges.
Mainly due to the impact of cash management
Net cash flows from investing activities -45,557,776.80 823,366,436.16 -105.53%
activities.
Mainly due to the combined effects of a year-on-
year decrease in cash received from loans
Net cash flows from financing activities -21,503,255.55 1,484,488.32 -1,548.53% obtained by subsidiaries, an increase in cash paid
for loan repayments, and an increase in dividends
paid by subsidiaries.
Jointly affected by the net cash flows from
Net increase in cash and cash equivalents -63,428,677.18 784,678,528.79 -108.08% operating activities, investing activities and
financing activities.
Explanation for the decline in revenue and profit in this period:
(1) The revenue recognition of the Company’s large-scale intelligent complete equipment products is uneven
in each quarter. The revenue recognition scale in the Q1 was relatively low, resulting in a year-on-year decline
of 17.70% in revenue.
(2) From the perspective of the product structure for revenue recognition during this period, the proportion of
revenue recognized by products with high gross profit rate is relatively low, while the proportion of revenue
recognized by products with low gross profit rate is relatively high, which affected the overall profit level.
(3) Based on product orders and the current project execution, the situation in the Q1 may improve
significantly in the last three quarters of this year. However, there will still be fluctuations between quarters
due to the progress of project acceptance and revenue confirmation.
(4) Based on the current scale of orders on hand, project execution status, and sales market expectations, the
Company is striving to achieve healthy development in its operational performance.
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
II. Shareholders Information.
top ten common shareholders
Unit: Share
Total preference shareholders
Total number of shareholders of common
stocks at the end of the reporting period
end of reporting period
Top 10 shareholders(Excluding shares lent in refinancing)
Amount of Pledged, marked or frozen
Amount of shares
Name Nature Ownership restricted stocks
held
shares held Status Amount
Unicom-Xinwo Venture Capital
Management (Shanghai) Co., Ltd. -
Lianchuang Weilai (Wuhan) Intelligent Others 11.20% 114,499,861 Not applicable
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Deng Xijun Domestic natural person 9.41% 96,181,562 72,136,172 Not applicable
Zhang Yuchun Domestic natural person 8.09% 82,696,357 62,022,268 Not applicable
Wang Chungang Domestic natural person 5.61% 57,394,047 43,045,535 Not applicable
Cai Hegao Domestic natural person 4.89% 50,000,000 Not applicable
Cai Zhihong Domestic natural person 3.64% 37,217,029 Not applicable
Cheng Fang Domestic natural person 1.50% 15,311,896 Not applicable
China Construction Bank Corporation-E
Fund Guozheng Robotics Industry
Others 1.13% 11,557,844 Not applicable
Exchange-Traded Open-End Index
Securities Investment Fund
Li Xianglan Domestic natural person 1.06% 10,804,252 Not applicable
Liu Meixia Domestic natural person 1.04% 10,639,500 Not applicable
Top 10 shareholders with unrestricted shares held(Excluding shares lent in refinancing and executive lock-in shares)
Type of shares
Name Amount of unrestricted shares held
Type Amount
Unicom-Xinwo Venture Capital
Management (Shanghai) Co., Ltd. -
Lianchuang Weilai (Wuhan) Intelligent 114,499,861 RMB ordinary shares 114,499,861
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Cai Hegao 50,000,000 RMB ordinary shares 50,000,000
Cai Zhihong 37,217,029 RMB ordinary shares 37,217,029
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
Deng Xijun 24,045,390 RMB ordinary shares 24,045,390
Zhang Yuchun 20,674,089 RMB ordinary shares 20,674,089
Cheng Fang 15,311,896 RMB ordinary shares 15,311,896
Wang Chungang 14,348,512 RMB ordinary shares 14,348,512
China Construction Bank Corporation-E
Fund Guozheng Robotics Industry
Exchange-Traded Open-End Index
Securities Investment Fund
Li Xianglan 10,804,252 RMB ordinary shares 10,804,252
Liu Meixia 10,639,500 RMB ordinary shares 10,639,500
Shareholders holding more than 5% of the shares, the top 10 shareholders, and the top 10 shareholders of
unrestricted tradable shares participate in the lending of shares in the refinancing business.
□Applicable √Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
with the previous period due to the refinancing, lending/repayment.
□Applicable √Not applicable
the Company
□Applicable √Not applicable
III. Other Significant Events
□Applicable √Not applicable
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
IV. Quarterly Financial Statements
(1)Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO., LTD. Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalent 59,853,741.24 123,312,905.58
Financial assets held for trading 2,048,073,969.52 1,998,076,613.71
Derivative financial assets
Notes receivable 166,517,021.15 191,618,917.60
Accounts receivable 1,276,208,327.85 1,257,355,174.66
Financing receivable 65,416,062.24 41,257,668.78
Advance payment 84,742,443.14 91,571,102.97
Other receivables 34,069,460.69 24,727,232.15
Thereof: Interest receivable
Dividend receivable 9,217,655.70
Inventories 2,155,025,214.55 2,143,789,860.13
Contract assets 117,620,177.95 192,614,086.16
Assets held for sale
Non-current assets due within one year 5,673,848.45 7,217,471.31
Other current assets 19,347,122.59 23,548,785.74
Total current assets 6,032,547,389.37 6,095,089,818.79
Non-current assets:
Debt investments
Other debt investments
Long-term receivable 39,219,392.51 42,260,512.06
Long-term equity investment 556,417,869.84 564,728,509.75
Investment in other equity instruments 71,286,412.52 71,286,412.52
Other non-current financial assets
Investment real estate 12,844,807.76 13,041,242.51
Fixed assets 388,042,205.14 378,299,699.38
Construction in progress 15,834,590.04
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
Productive biological assets
Oil and gas assets
Right-of-use assets 2,265,216.75 2,920,312.68
Intangible assets 49,390,661.96 50,537,962.14
Development expenditure
Goodwill 401,878.10 401,878.10
Long-term deferred expenses 69,970.09 83,196.64
Deferred income tax assets 56,777,543.47 53,818,437.26
Other non-current assets 22,831,545.63 14,547,719.70
Total non-current assets 1,199,547,503.77 1,207,760,472.78
Total assets 7,232,094,893.14 7,302,850,291.57
Current liabilities:
Short-term loans 31,000,000.00 48,045,233.34
Financial liabilities held for trading
Derivative financial liabilities
Notes payable 2,325,819.00
Accounts payable 299,098,431.54 364,384,987.86
Advance from customers 10,000.00
Contract liabilities 1,703,788,014.02 1,726,130,402.84
Employee benefits payable 22,380,734.73 80,441,917.83
Taxes payable 7,535,204.77 28,027,949.35
Other payables 21,098,918.51 21,095,026.02
Thereof: Interest payable
Dividend payable 4,900,000.00 4,900,000.00
Liabilities held for sale
Non-current liabilities due within one year 4,497,587.03 3,246,728.70
Other current liabilities 118,381,340.73 110,850,793.74
Total current liabilities 2,210,116,050.33 2,382,223,039.68
Non-current liabilities:
Long-term loans
Bonds payable 464,811,861.73 461,630,937.11
Thereof: Preferred stock
Perpetual debt
Lease liabilities 479,591.59 520,837.60
Long-term payables
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
Long-term employee benefits payable
Estimated liabilities 5,910,697.11 7,220,080.16
Deferred income 22,207,944.40 22,540,777.76
Deferred income tax liability 23,453,277.30 20,970,098.23
Other non-current liabilities 71,178,077.84 56,526,839.53
Total non-current liabilities 588,041,449.97 569,409,570.39
Total Liabilities 2,798,157,500.30 2,951,632,610.07
Shareholders' equity:
Share capital 1,022,561,575.00 1,022,561,509.00
Other equity instruments 27,205,566.94 27,205,627.42
Thereof: Preferred stock
Perpetual debt
Capital reserve 383,990,044.74 381,873,967.60
Minus: treasury shares 13,368,803.26 13,368,803.26
Other comprehensive income 28,327,252.68 28,652,346.24
Special reserve 28,694,773.84 28,232,764.07
Surplus reserve 451,872,926.93 451,872,926.93
General risk reserve
Retained earnings 2,323,215,881.10 2,244,805,345.74
Total equity attributable to shareholders of parent
company
Minority shareholder equity 181,438,174.87 179,381,997.76
Total shareholders' equity 4,433,937,392.84 4,351,217,681.50
Total liabilities and shareholders' equity 7,232,094,893.14 7,302,850,291.57
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2)Consolidated Income Statement
Unit: RMB
Item Current period Last period
Thereof : Operating revenue 576,130,719.61 700,025,064.80
Thereof: Cost of sales 383,341,835.22 421,565,298.88
Taxes and surcharges 4,282,146.45 8,347,845.14
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
Selling expenses 29,589,858.51 30,019,128.04
General and administrative expenses 30,806,032.58 28,411,674.81
Research and development expenses 30,026,682.25 33,648,656.97
Financial expenses 5,281,091.54 5,641,436.12
Thereof : Interest expenses 5,134,197.10 4,914,894.91
Interest income 275,761.45 463,228.93
Add: Other income 2,884,907.91 5,411,503.71
Investment income (loss is stated with “-”) 908,279.84 10,149,482.64
Thereof: Investment income from associates and joint
ventures
Gain from the derecognition of the financial assets measured
at amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value (loss is stated with “-”) 7,480,631.88 2,963,110.28
Credit impairment losses (loss is stated with “-”) -3,985,939.27 -4,406,173.65
Asset impairment losses (loss is stated with “-”) -3,672,319.45 -4,302,658.65
Gains from disposal of assets (loss is stated with “-”) -2,915.36 157.57
Add: Non-operating income 7,535.22 13,396.02
Less: Non-operating expenses 19,515.75 12,847.50
Less: Income tax expenses 10,472,098.07 24,654,890.82
(1) Classified by continuity of operations
(2) Classified by ownership of the equity
Other comprehensive income attributable to shareholders of the
-325,093.56 265,697.94
Parent Company, net of tax
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
benefit plan
transferred subsequently to profit or loss under the equity method
equity instruments
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
risk
(2) Other comprehensive income items which will be reclassified
-325,093.56 265,697.94
subsequently to profit or loss
-325,093.56 265,697.94
subsequently to profit or loss under the equity method
comprehensive income
foreign currency financial statements
Other comprehensive income attributable to minority shareholders,
net of tax
Attributable to shareholders of the Parent Company 78,085,441.80 150,325,919.37
Minority interests 7,521,104.65 7,491,883.01
(1) Basic earnings per share 0.0769 0.1478
(2) Diluted earnings per share 0.0769 0.1465
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(3)Consolidated Cash Flow Statement
Unit: RMB
Item Current period Last period
Cash received from sales of goods or rendering of services 580,207,464.13 524,010,363.38
Refund of taxes and surcharges 68,016.11
Other cash receipts relating to operating activities 3,416,855.91 14,791,880.68
Sub-total of cash inflows from operating activities 583,692,336.15 538,802,244.06
Cash paid for goods and services 294,296,552.76 286,903,029.85
Cash paid to employees and paid on behalf of employees 201,826,811.29 188,696,433.60
Payments of taxes and surcharges 51,201,703.91 79,036,007.24
Other cash payments relating to operating activities 32,726,840.05 24,630,330.86
Sub-total of cash outflows from operating activities 580,051,908.01 579,265,801.55
Net cash flows from operating activities 3,640,428.14 -40,463,557.49
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
Cash received from withdrawing investments 400,710,000.00 3,108,780,121.39
Cash received from investment income 1,198,366.35 21,912,076.36
Net cash received from disposal of fixed assets, intangible assets and
other long term assets
Net cash received from disposal of subsidiaries and other operating
units
Other cash receipts relating to investing activities 460,000.00
Sub-total of cash inflows from investing activities 401,931,309.59 3,131,156,687.86
Cash paid to acquire fixed assets, intangible assets and other long-
term assets
Cash paid to acquire investments 443,300,000.00 2,289,240,000.00
Net increase of mortgaged loans
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities 166,000.00 755,047.00
Sub-total of cash outflows from investing activities 447,489,086.39 2,307,790,251.70
Net cash flows from investing activities -45,557,776.80 823,366,436.16
Cash received from capital contributions 150,000.00
Thereof: Cash received by subsidiaries from minority shareholders’
capital contributions
Cash received from borrowings 1,000,000.00 16,950,000.00
Other cash receipts from financing activities
Sub-total of cash inflows from financing activities 1,000,000.00 17,100,000.00
Cash repayments of borrowings 16,750,000.00 13,950,000.00
Distribution of dividends or profits and payments for interest
expenses
Thereof: Cash payments for dividends or profit to minority
shareholders by subsidiaries
Other cash payments relating to financing activities 469,038.33 471,320.00
Sub-total of cash outflows from financing activities 22,503,255.55 15,615,511.68
Net cash flows from financing activities -21,503,255.55 1,484,488.32
Add: Cash and cash equivalents at the beginning of period 122,084,085.72 51,529,654.30
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2026
relevant items in the financial statements at the beginning of the period since 2026
□Applicable √Not applicable
Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
The First Interim Report has not been audited by auditing firm.
Board of Directors of HARBIN BOSHI AUTOMATION CO., LTD.
April 28th, 2026
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