Shangwei New Materials Posts 255 Million Yuan Net Loss in Q3 2026

The company's third-quarter revenue declined 18.04% year-over-year to 406 million yuan, according to its earnings announcement. The net loss attributable to shareholders was 255 million yuan, compared with a profit of 30.68 million yuan in the same period last year. Non-GAAP net loss was 256 million yuan.

For the first three quarters of 2026, revenue totaled 1.209 billion yuan, down 5.51% year-over-year. The company reported a net loss of 422 million yuan, versus a profit of 60.55 million yuan in the prior-year period, and a non-GAAP net loss of 425 million yuan.

The loss was primarily due to increased R&D, marketing, and supply chain investments in its consumer-grade embodied AI robot business, which has not yet recognized any revenue. The company is actively expanding in the embodied AI sector, but the substantial upfront spending is weighing on short-term profitability. The company remains focused on the long-term potential of embodied AI, but the near-term financial impact is significant.