Han's Laser Q1 Revenue Jumps 74%, Non-Recurring Net Profit Attributable To Shareholders Surges 468%, Contract Liabilities Rise 29% | Financial Report Insights

Han's Laser's Q1 2026 report indicates that rapid expansion of its main business, combined with the capital effects of its subsidiary Han's CNC listing in Hong Kong, jointly drove significant growth in key financial indicators. In the first quarter, the company achieved operating revenue of 5.135 billion yuan, a year-over-year increase of 74.44%; net profit attributable to shareholders was 354 million yuan, up 116.59% year-over-year; Non-Recurring Net Profit Attributable To Shareholders reached 408 million yuan, a substantial year-over-year increase of 467.81%, indicating a marked improvement in the profitability quality of its core business. At the same time, the controlling subsidiary Han's CNC listed on the main board of the Hong Kong Stock Exchange on February 6, 2026, raising approximately 4.818 billion yuan, which directly drove significant expansion in the company's monetary funds, minority interests, and capital reserves. Total assets increased by 12.75% from the beginning of the year to 43.123 billion yuan. Main Business Accelerates Across the Board, Non-Recurring Net Profit Attributable To Shareholders Surges 467.81% During the reporting period, total operating revenue grew by 74.44% year-over-year, while operating costs rose correspondingly by 69.16%. With revenue growth outpacing cost growth, operating profit increased by 149.20% year-over-year to 463 million yuan, and total profit reached 466 million yuan, a year-over-year increase of 149.56%. From the perspective of profitability quality, Non-Recurring Net Profit Attributable To Shareholders surged by 467.81% year-over-year, far exceeding the 116.59% growth rate of net profit, demonstrating that improvements in operating profitability are particularly prominent. Basic earnings per share rose from 0.16 yuan in the same period last year to 0.34 yuan, while the weighted average return on net assets increased from 0.97% to 1.87%. On the expense front, R&D investment continued to increase, with research expenses reaching 508 million yuan during the reporting period, a year-over-year rise of 23.97%; management expenses and sales expenses grew by 43.18% and 21.89% respectively, both at rates lower than revenue growth, indicating the initial emergence of operating leverage effects. Financial expenses rose sharply due to fluctuations in the US dollar exchange rate, shifting from a net income of 27.44 million yuan in the same period last year to a net expenditure of 42.70 million yuan. Notably, gains or losses from changes in fair value shifted from a profit of 89.43 million yuan in the same period last year to a loss of 100 million yuan, primarily influenced by stock price fluctuations in other non-current financial assets held, exerting some drag on current-period profits. Han's CNC Listing Significantly Boosts Equity, Interest-Bearing Debt Actively Reduced Affected by Han's CNC's listing in Hong Kong, the company's balance sheet saw significant changes this quarter. During the reporting period, cash received from minority shareholders investing in subsidiaries totaled 4.818 billion yuan, driving net cash inflow from financing activities to 3.921 billion yuan, a year-over-year increase of 156.93%. Monetary funds subsequently increased by 31.72% from the beginning of the year to 10.555 billion yuan, with the balance of cash and cash equivalents at the end of the period reaching 10.017 billion yuan; minority interests surged by 119.91% from the beginning of the year to 3.613 billion yuan; and capital reserves increased by 88.33% from the beginning of the year to 6.229 billion yuan. Net equity attributable to shareholders increased by 19.59% from the beginning of the year to 20.668 billion yuan. On the liability side, the company actively reduced interest-bearing debt: short-term borrowings decreased by 32.98% from the beginning of the year, non-current liabilities due within one year decreased by 24.53%, and long-term borrowings decreased by 10.73%, leading to a more stable financial structure. Inventory Procurement Drags on Operating Cash Flow, Backlog Orders Support High Momentum Despite significant profit growth, the company's net cash flow from operating activities remained negative, recording -716 million yuan for the reporting period, widening from -657 million yuan in the same period last year. The company explained that increased orders led to higher cash payments for inventory procurement, which is the primary reason for the pressure on operating cash flow. Inventory increased by 23.91% from the beginning of the year to 6.470 billion yuan, accounts receivable rose by 8.81% to 9.057 billion yuan, and contract liabilities grew by 29.28% to 1.430 billion yuan, collectively confirming the company's improved order momentum and accelerating expansion of ongoing business. Net cash inflow from investing activities was 84.89 million yuan, a sharp contraction from 801 million yuan in the same period last year, primarily due to reduced recoveries from maturing cash management products and increased investment expenditures on projects such as Jianghai, Honeycomb, and Lochpine Green Fund I LP during the reporting period. Additionally, the company announced plans to invest $150 million to establish an overseas operational center in Southeast Asia to better serve international markets, enhance overseas service capabilities, and improve resource allocation efficiency. This investment does not constitute a related-party transaction or a major asset restructuring.