Kexin Development H1 2026 Revenue Up 17% as Net Profit Slumps 98.47%
The company posted 2026H1 revenue of 151 million yuan, an increase of 17.07% from the previous year. However, net profit attributable to shareholders plunged by 98.47% to 351,400 yuan, and when non-recurring items are excluded, the attributable net loss widened to 1.4617 million yuan from 321,500 yuan.
The growth was chiefly driven by a new server-leasing arm, which generated 34.9212 million yuan in revenue and represented 23.13% of total revenue after being consolidated via an equity infusion in Payan Technology, where Kexin Development holds a 51.22% stake.
Construction revenue declined 6.87% to 110 million yuan, while revenue from self-owned asset rental dropped 3.80% to 6.0452 million yuan.
Operating cash flow improved to 16.6073 million yuan from a negative 8.7027 million yuan a year earlier. Total assets rose 36.34% to 1.094 billion yuan, and total liabilities increased 83.30% to 613 million yuan.

