HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026
（Abstract）
Ⅰ. Important Notes
This Abstract is extracted from Semi-Annual Report 2026. In order to have a full understanding of the
operating results financial condition and future development planning of the Company investors are
suggested to read the full report carefully on the media designated by the China Securities Regulatory
Commission (the “CSRC”). The Company’s 2026 Semi-Annual Report is prepared and published in Chinese
version and the English version is for reference only. Should there be any inconsistency between the
Chinese version and English version the Chinese version shall prevail.All directors attended the Board Meeting in person for reviewing of this Semi-Annual Report.Indicate by check mark if independent auditor issues non-standard unqualified opinion.□Applicable √Not applicable
Indicate by check mark if there is a pre-arranged plan of profit distribution or transferring capital reserve into
common stock for the report period which has been reviewed by the Board of Directors.□Applicable √Not applicable
The Company does not plan to issue cash or equity dividends nor to convert equity reserve into share capital
of the Company in the mid 2026.Indicate by check mark if preplan for preferred stocks profit distribution to shareholders for the report period
which has been reviewed and approved by the Board of Directors.□Applicable √Not applicable
1HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
II. Basic Situation of the Company
1.Company Profile
Stock Abbreviation Boshi Stock Code 002698
Stock Exchange for Stock
Shenzhen Stock Exchange
Listing
Contact Person and Contact
Secretary of the Board Securities Affairs Representative
Information
Name Chen Bo Zhang Wei
9 Donghu Street Concentration Zone of 9 Donghu Street Concentration Zone of
Contact Address
Yingbin Road Harbin Development Zone Yingbin Road Harbin Development Zone
Fax +86-451-84367022 +86-451-84367022
Tel +86-451-84367021 +86-451-84367021
Email ir@boshi.cn zhangwei@boshi.cn
2. Key Financial Data and Financial Indicators
Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous
year.□Yes √No
Increase/Decrease over the
2026 H1 2025 H1 same period of previous
year
Operating revenue (RMB) 1368574570.01 1361906020.97 0.49%
Net profit attributable to shareholders of the
234544912.50277372460.11-15.44%
parent company (RMB)
Net profit after deducting non-recurring
profit or loss attributable to shareholders of 218474390.82 260151376.46 -16.02%
the parent company (RMB)
Net cash flow from operating activities (RMB) 239829408.74 14230937.22 1585.27%
Basic earnings per share (RMB /share) 0.2297 0.2732 -15.92%
Diluted earnings per share (RMB /share) 0.2297 0.2714 -15.36%
Weighted average return on equity 5.52% 7.05% -1.53%
End of the current Increase/Decrease over
End of previous year
reporting period previous year end
Total assets (RMB) 7282127477.14 7302850291.57 -0.28%
Total equity attributable to shareholders of the
4168175607.654171835683.74-0.09%
parent company (RMB)
2HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
3. Number of Shareholders and Shareholding
Unit: Share
Total number of shareholders of Total number of shareholders of
common stocks at the end of the 49160 preferred stock with resumed voting right 0
reporting period at the end of the reporting period
Top 10 shareholders(Excluding shares lent in refinancing)
Quantity of Pledged marked or
Ownershi Quantity of
Name Nature restricted frozen stocks
p stocks
stocks held Status Quantity
Unicom-Xinwo Venture Capital
Management (Shanghai) Co. Ltd. -
Lianchuang Weilai (Wuhan)
Others 10.50% 107330861 Not applicable
Intelligent Manufacturing Industrial
Investment Partnership (Limited
Partnership)
Deng Xijun Domestic natural person 9.41% 96181562 72136172 Not applicable
Zhang Yuchun Domestic natural person 8.09% 82696357 62022268 Not applicable
Wang Chungang Domestic natural person 5.61% 57394047 43045535 Not applicable
Cai Hegao Domestic natural person 4.89% 50000000 Not applicable
Cai Zhihong Domestic natural person 3.64% 37217029 Not applicable
Cheng Fang Domestic natural person 1.56% 15921696 Not applicable
Li Xianglan Domestic natural person 1.33% 13635852 Not applicable
Liu Meixia Domestic natural person 1.04% 10639500 Not applicable
Tan Jianxun Domestic natural person 1.02% 10454138 Not applicable
Shareholders holding more than 5% the top 10 shareholders and the top 10 shareholders of unlimited
tradable shares participate in the refinancing business to lend shares.□Applicable √Not applicable
The top 10 shareholders and the top 10 shareholders of unlimited outstanding shares have changed from the
previous period due to refinancing lending/restitution reasons.□Applicable √Not applicable
4. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□Applicable √Not applicable
3HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
The controlling shareholder did not change in the reporting period.Change of the actual controller in the reporting period
□Applicable √Not applicable
The actual controller did not change in the reporting period.
5. Number of preference shareholders and shareholdings of top 10 of them
□Applicable √Not applicable
The Company had no preference shareholders in the reporting period.
6. Corporate bonds that existed on the date when this Report was authorized for issue
(1) Bond profile
Balance of face
value at the end
Bond name Abbreviation Bond code Date of issue Maturity of reporting Coupon rate
period
(RMB’0000)
1st year 0.30%
nd
Convertible 2 year 0.50%
Boshi
Corporate Bonds of 3rd year 1.00%
Convertible 127072 Sep. 22nd 2022 Sep. 21st 2028 44981.91
Harbin Boshi 4th year 1.50%
Bonds
Automation Co. Ltd. 5th year 1.80%
6th year 2.00%
(2) Financial indicators at the end of reporting period.
Item End of the current reporting period End of previous year
Liability /asset ratio 40.18% 40.42%
Item 2026 H1 2025 H1
EBITDA interest cover (times) 30.85 36.13
4HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
(3) Top 10 convertible bond holders
Number of
Face value of As % of
convertible
convertible bonds convertible bonds
NO. Name Nature bonds held
held at the period held at the period
at the
end (RMB) end
period-end
China Merchants Bank Co. Ltd. -
Boshi CSI Convertible Bond and
1 Others 414958 41495800.00 9.22%
Exchangeable Bond Trading-Open
Index Securities Investment Fund
China Everbright Bank Co. Ltd. -
2 China Merchants Anben Zengli Bond Others 301970 30197000.00 6.71%
Fund
Southern Fund Ning Kang Convertible
3 Bond Fixed Income Pension Product - Others 218160 21816000.00 4.85%
Bank of China Limited
Domestic state-owned
4 Guotai Haitong Securities Co. Ltd. 180120 18012000.00 4.00%
corporate
China Construction Bank Co. Ltd. -
5 Others 149150 14915000.00 3.32%
Huashang Credit-Enhanced Bond Fund
Ping An Bank Co. Ltd. - Western
6 Others 130000 13000000.00 2.89%
Rithink Huixiang Bond Fund
China Minsheng Bank Co. Ltd. - China
7 Others 121950 12195000.00 2.71%
Merchants Jinhong Bond Fund
Jianxin Fund - Construction Bank -
China Construction Bank Co. Ltd.
8 Others 92850 9285000.00 2.06%
Trade Union Committee Employee
Equity Incentive Council
China National Petroleum Corporation
9 Enterprise Annuity Plan - Industrial and Others 84500 8450000.00 1.88%
Commercial Bank of China Ltd.China Merchants Bank Co. Ltd. -
10 Huabao Convertible Bond Bond-type Others 78581 7858100.00 1.75%
Securities Investment Fund
III. Other Significant Events
Not applicable
5HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
IV. Management Discussion and Analysis
1. Company Main Businesses during the Reporting Period
(1) Industry overview during reporting period
1 Industry impact
According to the proportion of revenue during the reporting period the Company’s main businesses in its
industry are shown in the following figure：
The Company has long been building and improving a service-oriented manufacturing industrial system and
has established intelligent manufacturing equipment and industrial services extended based on the core
advantages of the equipment industry as the “dual-core-driven” development engines. On one hand the
intelligent manufacturing equipment business belongs to the high-end equipment manufacturing industry
which is given key support and encouragement by the state on the other hand the industrial service business
belongs to the key development direction of modern service industry. Both core businesses are in line with
the national industrial development strategy orientation and have clear policy guidance and long-term
development space. During this reporting period The Company’s industry fundamentals development stage
cyclical characteristics and market position remained largely unchanged.During the reporting period the intelligent manufacturing equipment and industrial services these two core
growth businesses accounted for 94% of the operating revenue. The environmental protection process andequipment business achieved a revenue share of 6% maintaining a stable revenue structure of “dual-coredominance and beneficial supplements”.Intelligent Manufacturing Equipment：
As the main body of the national economy and the foundation of a strong country the digital upgrade and
intelligent transformation of the manufacturing industry have been elevated to the core strategy of national
economic development and have become a key engine for promoting the high-quality development of the
real economy. At present the intelligent transformation of China’s manufacturing industry presents a
dual-track parallel feature of “stock improvement + increment expansion” : On one hand the popularization
6HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
rate of automated equipment in large-scale industrial enterprises has reached a relatively high level but the
proportion of digital factories with equipment networking and data collaborative sharing is relatively low.Intelligent factories with intelligent decision-making and flexible production capabilities are still in the pilot
stage of typical scenarios. The market space for digital and intelligent transformation of existing production
capacity is vast. On the other hand strategic emerging industries such as new energy and new materials have
risen. In the early stage of construction related projects generally benchmark against the standards of
intelligent factories driving the continuous release and steady growth of new capacity demand for intelligent
equipment. In the long term the demand for intelligent transformation in China’s manufacturing sector is
highly resilient with no obvious cyclical fluctuations providing continuous and stable development
opportunities for enterprises within the industry.The Company has long focused on the manufacturing of industrial equipment in the field of intelligent
equipment taking self-control and core security as the technical foundation concentrating on the R&D and
industrialization of intelligent manufacturing equipment. Through import substitution and industry-first paths
it achieves product innovation helping Chinese manufacturing customers achieve technological upgrading
quality improvement and efficiency enhancement as well as achieving quality improvement and
technological upgrading. The Company’s products have widely applied in multiple key industries of
petrochemicals and chemical engineering new energy sub-merger arc furnaces grain and feed building
materials pharmaceuticals and food and port logistics. It provides customers with efficient stable and
intelligent manufacturing production equipment and actively promotes the implementation of the overall
solution for intelligent factories helping customers achieve intelligent upgrading of the entire production
process. In recent years relying on the national industrial digitalization strategic orientation the Company
has accelerated the application of its accumulated digital and intelligent technologies and has already
possessed the delivery capability of full-stack solutions in multiple core product application fields. It has
built a complete product matrix from intelligent complete equipment digital workshops to intelligent
factories covering the entire industrial chain. The Company firmly implements the differentiated competitive
strategy of technology leadership and has formed significant differentiation advantages in core technology
research and development high-end product innovation large system integration advantages full-process
industrial service capabilities large-scale project implementation experience and brand recognition building
a long-term competitive barrier. In the main application fields of domestic products the Company’s technical
level and intelligent equipment products are at the industry-leading position. Currently in the domestic
market competition there are no competitors of the same scale; from the technical perspective the
application scale of some core products has reached the world-leading level demonstrating the Company’s
industry competitiveness.Industrial Service：
The state attaches great importance to the high-quality development of the manufacturing service industry. In
March 2021 13 departments including the National Development and Reform Commission the Ministry of
Science and Technology and the Ministry of Industry and Information Technology jointly issued the
Opinions on Accelerating the High - Quality Development of the Manufacturing Service Industry. Themanufacturing service industry is clearly positioned as “an important support for enhancing thecompetitiveness and comprehensive strength of manufacturing products and promoting the transformationupgrading and high-quality development of the manufacturing industry.” Under policy guidance
manufacturing enterprises have accelerated business model innovation restructured production organization
7HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
systems increased the proportion of service elements in the industrial chain and gradually transformed from
traditional manufacturing to “manufacturing + services” achieving a leap from single product delivery to an
integrated solution of “products + services”. The service - oriented manufacturing model effectively expands
the value boundary of the equipment manufacturing industry chain enhances the added value and production
efficiency of industrial service elements and boosts the vitality and market competitiveness of enterprises
furtherly.The Company has long been dedicated to the field of intelligent manufacturing equipment. Relying on the
advantages of its core products it has established a professional production operation and maintenance
management service system covering the entire life cycle of equipment products. Focusing on the core needs
of customers it provides integrated industrial services such as equipment operation and maintenance
finished product warehousing and transportation and full-process operation and maintenance support
helping customers outsource non-core businesses and achieve cost reduction efficiency improvement
quality enhancement and upgrading. It also promotes its own high-quality development.The demand for the
Company’s industrial service business shows a two-way growth trend. On one hand as the stock of the
Company’s intelligent equipment products continues to expand it drives the demand for supporting services
such as spare parts maintenance and renovation to grow steadily forming the cornerstone of the service
business development. On the other hand the Company has been delving deep into its customers’ potential
demands actively expanding new production operation and maintenance service projects continuously
broadening the business growth space and promoting the high-quality development of its industrial service
business. Over the years the Company’s product- service integration strategy has achieved remarkable
results. It has now formed a complete service network covering all regions of the country except Hong Kong
Macao Taiwan and Xizang. Both the service scale and profitability have remained among the top in the
industry.With its continuous business innovation capabilities and industry-leading service fulfillmentcapabilities the Company was selected as a “Pilot Unit for the Integrated Development of AdvancedManufacturing and Modern Services” by the National Development and Reform Commission in August
2021. In January 2023 it was awarded the title of “Fourth Batch of Service-oriented ManufacturingDemonstration Enterprises” by the Ministry of Industry and Information Technology. It has obtained dual
national-level qualification certifications. This fully demonstrates the Company’s exemplary and leading role
in the integrated development direction of manufacturing and services laying a solid foundation for the
continuous expansion of the Company’s industrial service business.Environmental Protection Process and Equipment:
“Lucid waters and lush mountains are invaluable treasures.” A healthy ecological environment is not only a
natural wealth but also an economic prosperity which is related to the potential and momentum of economic
and social development. At present the country has incorporated green and low-carbon development into the
core strategy of high-quality development vigorously promoting energy conservation consumption
reduction pollution control and resource recycling in the industrial sector. This has brought a favorable
development space for the environmental protection equipment-related industries.Boao Environment a subsidiary of the Company specializes in the deep treatment and recycling of
industrial waste acid and acidic gases. With comprehensive treatment technologies and environmental
protection equipment manufacturing capabilities it efficiently collects and safely processes waste sulfuric
acid and sulfuric acid-containing gases generated during industrial production ultimately producing
8HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
high-purity sulfuric acid for recycling. The related environmental protection equipment products enable the
recovery and reuse of thermal energy released during the treatment process achieving multiple benefits such
as energy conservation emission reduction recycling economic efficiency and environmental protection.This not only reduces production costs for customers and improves the utilization efficiency of waste
resources but also actively supports the national green and low-carbon development strategy facilitating the
green production transformation of industrial enterprises and achieving a harmonious balance between
economic and social benefits.
2 Industry policy impact
The national “manufacturing power” strategy has been advanced in depth. Intelligent manufacturing and
industrial digital transformation have become the core for promoting high-quality development of the
manufacturing industry and are also important measures for the country to cultivate new productive forces
and consolidate the foundation of the real economy. The Company has long been committed to developing
service-oriented manufacturing always been an industry direction supported and encouraged by national
policies.Over the past year a series of national industrial policies have been issued one after another covering areas
such as maintaining growth in the petrochemical and chemical industries and the mechanical sectordeepening service-oriented manufacturing safety production technical standards the “artificial intelligence +manufacturing” special action and the renovation and upgrading of outdated facilities. These policies have
provided a comprehensive multi-level and three-dimensional policy support environment for theCompany’s business structure which is dominated by “intelligent manufacturing equipment + industrialservices” and beneficially supplemented by environmental protection processes and equipment.For details: The Work Plan for Stabilizing Growth in the Petrochemical and Chemical Industry (2025-2026)
(Ministry of Industry and Information Technology Document and Other Relevant Departments (raw
materials)No. 195 [2025]) and the Work Plan for Stabilizing Growth in the Machinery Industry (2025-2026)
(Ministry of Industry and Information Technology Document and Other Relevant Departments
(communication equipment)No. 205 [2025]) respectively focus on stabilizing growth and upgrading
transformation in the petrochemical and chemical industries as well as the machinery industry. Their
measures such as digital and green transformation renovation of old facilities cultivation of chemical parks
and innovation of intelligent equipment directly benefit the expansion of the Company’s core business.The Implementation Plan for Deeply Promoting the Innovation and Development of Service-Oriented
Manufacturing (2025-2028) jointly issued by seven departments is conducive to the Company continuously
optimizing its service model enriching new service scenarios and further strengthening its brand influence.The Implementation Opinions for the “Artificial Intelligence + Manufacturing” Special Action (Document
No. 279 of 2025 by MIIT and MIK) focuses on the “dual empowerment” of intelligent industrialization and
industrial intelligence clearly setting the core goal of launching 1000 high-level industrial intelligent agents
and promoting 500 typical application scenarios by 2027. It focuses on four major directions: computing
power supply industry models scenario applications and entity cultivation. The opinions cover the
Company’s core business not only helping to enhance the autonomous decision-making and precise control
capabilities of intelligent equipment but also expanding high-value application scenarios such as equipment
9HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
predictive maintenance and industrial visual inspection. At the same time it also helps the Company expand
market channels by relying on the supply-demand connection platform strengthening data security and
network security protection and reducing risks providing strong support for the Company’s long-term
high-quality development. The Action Plan for Accelerating the Renewal and Transformation of Old
Facilities in the Petrochemical and Chemical Industry (2026-2029) (Document No. 72 of 2026 by MIIT and
MIY) makes systematic arrangements for the renewal and transformation of old facilities in the
petrochemical and chemical industry encouraging the implementation of safety green and intelligent
renovations by benchmarking against industry advanced levels. In the medium and long term this will be
beneficial to the promotion and application of intelligent equipment products in this field.In addition the national standard Safety Technical Specifications for Calcium Carbide Production
(GB32375—2025) clearly stipulates that the calcium carbide ejection operation should use ejection robots
and specifies specific requirements for their functions. This is expected to effectively boost the market
demand for the Company’s calcium carbide ejection robots and related products as well as calcium carbide
intelligent factories. The cultivation work of intelligent and unmanned scenarios for chemical safety
management deployed at the 2026 national emergency management work conference focusing on six key
processes such as phosgene production fluorination electrolysis calcium carbide production chlorination
and coal and coke processing storage areas of first-level major hazard sources also helps the Company
further promote and implement the relevant product technologies in the fields of calcium carbide intelligent
factories and intelligent inspection operations.The above industrial policy system is in line with the Company’s business areas which helps accelerate the
release of the demand for the digitalization intelligence and green transformation of the manufacturing
industry. It brings favorable development opportunities for the Company’s core business expansion product
innovation and market exploration. In the future the Company will actively grasp the policy orientation
fully focus on the two core businesses of intelligent manufacturing equipment and industrial services
strengthen product innovation optimize scenario application solutions promote business synergy and
achieve its own high-quality development.
10HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
(2)Company Main Businesses during the Reporting Period
* Main products industrial services and application level
Overall Solution for Intelligent Manufacturing Equipment and Intelligent Factory
Post-processing Intelligent Manufacturing Post-processing Intelligent Manufacturing
Equipment for Solid Material Equipment for Rubber
It is applied in the post-processing fields for the
powder granular materials or irregular materials of It is intelligent equipment and intelligent plant overall
petrochemical new energy grain animal feeds solution applied in production process of synthetic
building materials medicine food ports etc. (such as rubber and natural rubber and in the fields of product
crushing screening bagging boxing and transportation refining process dewatering and drying process
of new energy field polysilicon reduced silicon rods (rubber washing cleaning and impurity removal
etc.) providing efficient automatic weighing packaging dewatering crushing and drying etc.) and finished
and palletizing intelligent manufacturing and product packaging process (weighing baling
production equipment and overall solutions of detecting conveying packaging and palletizing etc.)
intelligent factories.In the field of post-processing high-end equipment for
powder and granular materials in China it has obvious
advantages and a stable competitive position. In the field Complete product line covering natural rubber and
of post-processing high-end equipment for the new synthetic rubber;
energy field irregular polysilicon materials the original It is the only supplier which can provide complete
first set of applications has promoted the upgrade of large-scale systems worldwide.intelligent manufacturing in the industry.Robot Plus Intelligent Logistics Warehousing Systems
Connecting solid material post-processing intelligent
manufacturing equipment with rubber post-processing
(High temperature) Operation robot for submerged arc intelligent manufacturing equipment to realize
furnace and serialized intelligent productsintelligent intelligent identification outbound and inbound
inspection and comprehensive intelligent factory warehousing management logistics transshipment
solution are applied for high-risk as well as other fully automatic vehicle loading etc. which widely used
special operation robots and complete system in many industries of national economy to help
solutions which can replace high-risk harsh working customers to build intelligent factory overall solutions.conditions and heavy manual labor.(High temperature) Operation robot for sub-merged
arc furnace and its surrounding systems are in leading
position worldwide in the field of calcium carbide; Fully automatic loading machine has formed the first
The successful delivery of intelligent workshop project mover advantage of the scale of application the
demonstration project in the field of calcium carbide
arc furnace production committed to promoting the market responded positively the future demand in
production of fewer people unmanned safe efficient many fields and industries has great potentialand environmental” and bringing the traditional
industrial technology revolution with industry
subversive technology.
11HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Industrial Services
The industrial services extended from in the above-mentioned related fields of intelligent
manufacturing equipment are mainly integrated service equipment maintenance and spare parts sales
which facing the operation in the application fields of intelligent manufacturing equipment after-sales
industrial service and supplementary industrial service.Adhering to the Company’s technological leadership in the field of intelligent equipment leading service
capabilities and scale in the field
* Business model
The business model of large-scale intelligent manufacturing equipment is driven by sales production
organization product delivery and acceptance revenue recognition and other links as shown in the
following figure:
12HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
The content characteristics of the operation and maintenance aftermarket and complementary industrial
services business models are summarized in the figure below:
Industrial Services——Operation andAfter-sales Type Industrial Services
By participating in bidding or negotiating bids the Company signs integrated service equipment maintenance
service agreements with customers (which may include FFS film rolls sales matching with production services)
equipment maintenance operation maintenance and the like to determine the contents and modes of services;
For the performance obligations of the service contract performed within a certain period of time the Company
shall recognize the revenue according to the performance progress within the period of time;
The sales mode of spare parts is flexible (the Company initiates stocking or the customer initiates procurement)
and the operating revenue is confirmed based on the actual delivery of the product and the time when the
revenue confirmation conditions are met
Industrial Services——Supplementary Industrial Services and Miscellaneous
FFS Film roll production enterprise matching
with industrial services (Nanjing Green New
Material Co. Ltd. Company’s holding
subsidiary) separately sells FFS film rolls plastic
auxiliaries and the like apart from the
Company’s production and operation services;
Other kinds with small revenue are not
classified as material.Revenue recognition: Usually as per the
contract signed with customer implement the
contract and meet the revenue conditions then
13confirm the operating revenue.HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
The following environmental protection process equipment business is a useful complement to the
Company’s intelligent manufacturing equipment and industrial services two of the Company’s core growth
businesses.Energy saving emission reduction and environmental protection process
equipment field
Industrial waste sulfuric acid
sulfur-containing acid gas
Collection → Catalysis → Heat
exchange → Purification
High-purity sulfuric acid used for
recycling production
Harbin Boao Environmental Technology Co. Ltd is currently mainly engaged in the design production and
sales of energy-saving emission-reduction and environmental protection process equipment which is
represented by industrial waste acid regeneration process and equipment. Industrial waste acid
regeneration technology and equipment collect and process industrial waste sulfuric acid and
sulfur-containing acid gas which are produced in the customer’s chemical production to generate
high-purity sulfuric acid for recycling production and release heat energy for recycling and reusing
realizing the effects of energy saving and emission-reduction recycling uses economy and environment
protection and help to achieve carbon peak and carbon neutral emission reduction targets.Realizing the effects of energy saving and emission-reduction recycling uses economy
and environment protection.
14HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
* Develop new types of productive forces and steadily promote the application of new technologies
and product innovation
The new quality productivity as the outcome of revolutionary technological breakthroughs and innovative
allocation of production factors are reconfiguring the competitive landscape of the global intelligent
equipment industry promoting the evolution of China’s industry from traditional manufacturing to intelligent
manufacturing and triggering changes in the industrial ecosystem. In the application field of intelligent
manufacturing equipment products the Company has achieved the ability and breakthrough to leap from
single machines and automated production lines to overall solutions for digital workshops and intelligent
factories and has deeply served the country’s digital strategy industrial upgrading and the cultivation and
development of future industries.The Company has long focused on the problems of heavy high-temperature high-risk heavy physical labor
and high-repetition nature of manual operations in the industrial sector. It adheres to the development of
efficient intelligent manufacturing equipment the R&D and on-site implementation of special operation
robots the promotion of intelligent workshops and intelligent factories and other complete technical solution
packages. It continuously advances technological R&D and product innovation in intelligent manufacturing
for the industrial sector achieving continuous product iterations and breakthroughs in application scenarios.Consider the typical working conditions in industries such as mineral smelting—particularly within electric
arc or submerged-arc furnaces—as illustrative examples: these environments are characterized by extreme
thermal exposure at the furnace throat hazardous splashing of molten materials and physically demanding
highly repetitive tasks. Traditional manual long-term operations have prominent safety hazards and high
labor intensity. At the same time repetitive operations are prone to cause human operational deviations
which restricts the production safety and stable capacity of enterprises. Based on the long-term R&D
accumulation of industrial robots and intelligent equipment technologies the Company has continuously
strived to overcome core key technologies such as high-temperature-resistant mechanical structures
multi-degree-of-freedom adaptive control extreme environment sensing protection and intelligent special
condition identification. It has specifically developed a series of special robot equipment including furnace
15HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
cleaning furnace smelting inspection automatic transportation and fully automatic loading. It takes on
high-risk arduous and repetitive manual processes in the industry and has formed a complete technical
system from hardware equipment supporting control systems to the entire process intelligent factory system.At the industrialization implementation level the Company has pioneered to achieve large-scale commercial
use of high-temperature special operation robots in the calcium carbide smelting scenario pioneering the
completion of a domestic calcium carbide intelligent factory demonstration project and achieving a
breakthrough technological transformation in the industry; simultaneously the R&D of mature special
operation robots for high-temperature environments in other scenarios such as silicon iron silicon
manganese and industrial silicon were extended and all achieved successful applications.The Company has continuously increased its investment in R&D resources established a cross-disciplinary
robot R&D team and based on long-term application of new technologies and product innovation
achievements it integrates technologies such as 5G industrial internet AI visual perception embodied
intelligence and physical force control AI systems to optimize the intelligent decision-making ability of
robots. It continuously improves the equipment’s ability to autonomously identify adaptively adjust and
autonomously detect faults reducing the difficulty of on-site operation and maintenance. Based on the large
amount of operational data accumulated from the numerous projects that have been implemented the
Company continuously optimizes the robot motion control high-temperature heat resistance protection and
collaborative scheduling algorithms. As a result the product stability adaptability and flexible operation
capabilities have steadily improved forming a differentiated technological barrier.* Key performance drivers
In the 2026 Q2 the Company achieved a revenue of 792 million and a gross profit of RMB 292 million both
reaching the best levels in the Company’s history for a single quarter. This effectively reversed the
unfavorable situation at Q1 where product delivery was insufficient and revenue and profit declined. During
the reporting period the Company achieved a revenue of RMB 1.369 billion increasing by 0.49%
year-on-year; it realized a net profit attributable to the parent Company of RMB 235 million a decrease of
15.44% year-on-year; the net cash inflow from operating activities was RMB 240 million an increase of
1585.27% compared to the same period of the previous year reaching the best level in recent years and the
ability to recover cash from operations has significantly improved.From the perspective of business composition the revenue of intelligent manufacturing equipment in the
reporting period was RMB 914 million slightly decreasing by 3.96% year-on-year. Among them the
revenue proportion of high gross profit rate solid material post-processing intelligent equipment decreased;
the revenue proportion of intelligent logistics and warehousing systems with medium gross profit rate
increased; the revenue proportion of rubber post-processing intelligent equipment increased while due to the
influence of a certain customer’s single low-margin project its gross profit rate decreased; the overall gross
profit rate of intelligent manufacturing equipment decreased by 2.90% to 38.91% as a result of the above
combined effects. The industrial service achieved a revenue of RMB 374 million during the reporting period
with a slight increase compared to the previous year. The gross profit rate increased by 2.78% to 27.80%
reaching an optimal level. Including the environmental protection technology and equipment business the
Company’s overall revenue during the reporting period was RMB 1.369 billion and the gross profit was
RMB 485 million a decrease of RMB 28.6727 million compared to the previous year. From the overall
16HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
financial data of the reporting period other income decreased by RMB 12.2802 million mainly due to the
difference formed by the year-on-year VAT software tax refund; investment income decreased by RMB
11.302 million compared to the previous year mainly due to the reduction in investment income from the
equity-accounted invested companies. These factors jointly affected the year-on-year change in the
Company’s net profit attributable to the parent company.In recent years in the face of an uncertain domestic and international market environment the Company has
driven product innovation through technological progress enhancing its market competitiveness. By
introducing new products and applications it has increased the certainty of its business performance. Based
on the development trend of the intelligent manufacturing industry the Company caters to the intelligent
transformation and digitalization needs of multiple downstream industries focuses on its core business and
consolidates the foundation of its products striving for the Company’s sustained high-quality development.
2. Core Competitiveness Analysis
The Company takes product innovation as its core development engine and firmly implements a technology
differentiated competition strategy. Leveraging a profound understanding of the development trends in
China’s industrial automation industry and nearly three decades of industrial expertise the Company has
established an industrial development framework centered on intelligent manufacturing equipment with
industrial services as the two wings and environmental protection processes and equipment as beneficialsupplements. This has formed a core competitive barrier characterized by “technology-drivenproduct-supported service-enabled and ecosystem symbiosis” as an integrated four-pillar system.In recent
years the Company has continuously increased its investment in digital and intelligent technology R&D as
well as scenario-based applications. The Company has achieved remarkable results in product innovation. Ithas developed a full-scenario product matrix covering “high-end single-machine equipment-intelligentcomplete production lines—lighthouse-level intelligent factories” realizing a leapfrog development from
point breakthroughs to chain formation and then to full-scenario coverage. Meanwhile the level of the
Company’s industrial service system has been continuously elevated and its multi-dimensional value
creation capabilities have been continuously enhanced further consolidating the Company’s competitive
edge and sustainable development momentum within the industry.During the reporting period the Company’s core competitiveness did not undergo significant changes. For a
comprehensive overview of the Company’s core competitiveness please refer to the 2025 annual report of
the Company.
17HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
(1)Technology-driven- Technology leadership forge core competitiveness.
1 Leadership in product capabilities driven by technology.
In the field of intelligent manufacturing equipment the Company’s core products feature core technical
characteristics such as high-speed operation high-precision control and high stability and reliability. They
precisely align with the market demands of high-end intelligent manufacturing equipment and meet the strict
standards of downstream customers for efficient safe and refined production.The Company provides
comprehensive intelligent manufacturing solutions for industries including solid material post-processing
systems and intelligent factories for calcium carbide submerged arc furnace smelting operations. In key
domestic application sectors of core products the Company has consistently maintained leading domestic
and internationally advanced technical capabilities and product performance achieving large-scale
implementation that places its application standards among the global forefront.
2 Innovation and application capabilities driven by underlying technologies.
The core technologies key algorithms and application platform architecture form the foundation for the
Company to achieve independent control of core technologies and ensure the security of the industrial chain
and supply chain.Taking the Company’s technological development in the “robot plus” field as an example
with its in-depth control and continuous iteration of the underlying core technologies the Company can
quickly transfer and efficiently reuse the core technical capabilities accumulated in areas such as
high-temperature environment special operation robots into the overall solutions for digital workshops and
intelligent factories achieving cross-scenario and cross-field collaborative empowerment of technological
achievements. This form a core competitive advantage that drives the digital transformation and intelligent
upgrading of industries.
18HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Legend：Development platform for mobile robot system based on autonomous navigation
* “Point → line → whole →intelligence”: full-cycle empowerment from systematic innovation to
intelligent ecosystem
The Company relies on the systematic innovation logic of “point → line → whole → intelligence” to
build a full-cycle industrialization path from the implementation of key technologies to the maturity of the
intelligent ecosystem. It achieves breakthroughs at the “point” level expansion along the “line” direction
coverage at the “whole” level and advancement at the “intelligence” level. With this systematic innovation
and integrated R&D capability of “point → line → whole → intelligence” the Company can concentrate
on technology funds and resources effectively reduce the risks of new product development and improvethe efficiency of R&D investment. Moreover through the continuous expansion of “new products - newfields - new applications - new markets” it opens up the ceiling of growth and further strengthens its core
competitive advantage in the field of intelligent manufacturing injecting momentum for long-term
sustainable development.* Technology migration and cross-industry application capability.The Company has built an efficient technology migration and cross-industry reuse capability. It can achieve
horizontal expansion to multiple industries and scenarios through modular reconstruction scenario-based
adaptation and customized development of technological breakthroughs and R&D achievements in a single
field. This effectively expands the boundaries of business growth and strengthen the resilience of core
19HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
competitiveness.The Company has achieved breakthroughs in core technologies and industrialized expertise
for high-temperature special operation robots in calcium carbide ore mine furnaces successfully extending
these solutions to diverse mining furnace applications including ferrosilicon silicon-manganese and
industrial silicon production.The Company’s mature technology migration and cross-industry application
capabilities not only effectively reduce the R&D costs and market risks in expanding into new fields but also
enhance the comprehensive output efficiency of R&D investment. Moreover through a positive cycle of
“technology reuse - scenario expansion - scale effect” it continuously strengthens its market influence and
core competitiveness.Legend：The product atlas of special operation robot in high temperature environment
* Patents software copyrights and proprietary technologies continue to support technological
innovation capabilities.During the reporting period the Company obtained 29 new patents authorized by the National Intellectual
Property Administration including 7 invention patents 20 utility model patents and 2 design patents. The
invention patents accounted for 24% highlighting the originality and advancement of the core technologies.3
new software Copyrights were registered with the National Copyright Administration covering key areas
such as intelligent control algorithms data management systems and intelligent factories providing
important software technical support for intelligent products and solutions. (Note: The amount of intellectual
property acquired during the reporting period may have a slight deviation due to the limitation of statistical
time points and is only for investors’ trend reference. Investors are urged to pay special attention to relevant
risk factors.)
In addition to the publicly disclosed patents and software Copyrights the Company has accumulated a large
number of core technological achievements in its long-term technological R&D and industrialization practice.These technologies exist in the form of proprietary technologies through a strict confidentiality management
system covering key links such as special process design core algorithm optimization and scenario-based
adaptation solutions complementing the patents and software Copyrights. Together they form the
Company’s irreplicable core technology system.
20HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
(2)Product supported - Rich product matrix to establish market competitive advantage.
* The broad coverage and deep adaptation of a multi-category product matrix build core
competitiveness.The Company’s intelligent manufacturing equipment covers four major product lines: comprehensive
intelligent solutions for solid material post-processing integrated robotic systems for high-temperature
environments intelligent rubber post-processing equipment and intelligent logistics warehousing systems
supplemented by eco-friendly process technologies and complete equipment sets. Its high-speed
high-precision high-performance products with exceptional operational reliability are widely applied across
industries including petrochemicals new energy mineral heating furnaces grain processing feed production
building materials pharmaceuticals food processing ports and logistics. The product portfolio tailored to
specific market segments within these industries is illustrated in the following diagram.
21HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Legend: Product matrix diagram
22HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
* Intelligent solutions achieve an upgrade from “product supply” to “value creation”.Relying on the technological industrialization logic of “point → line → whole → intelligence” the Company
continuously promotes the upgrade of its products from single devices to intelligent overall solutions. It
deeply integrates AI technologies such as machine vision deep learning robot control algorithms and expert
control strategies with industrial Internet communication technologies to create an overall solution for
intelligent factories/workshops. Realize the leap from “meeting production demands” to “creating addedvalue”.The core value of the Company’s intelligent solutions highlights safety upgrades efficiencyimprovements and precise control. The Company’s intelligent factory/workshop solution takes “lessmanpower and unmanned operation” as its core goal. Through full-process digital control and intelligent
decision-making it helps customers the three core values of production safety improvement efficiency
enhancement and meticulous control.* Intelligent workshop intelligent factory overall solution present substantial market opportunities.The Company’s overall solution for intelligent workshops and factories as a high-level form of “productcarrying” is in a golden development period where policies and market demands resonate. It is the key for
the Company to open up growth space and consolidate its industry position.Intelligent workshops intelligent
factories and overall solutions require the ability to handle complex technical demands in multiple links
with high entry barriers and extremely high requirements for technological accumulation and product
innovation. Leveraging the industrialization logic of “point → line → whole → intelligence” technology and
cross-industry expertise the Company provides integrated “product + service” solutions establishing
comprehensive competitive advantages with high barriers in application fields.Legend：Calcium carbide production intelligent workshop to achieve few people unmanned production operations
(3)Service enabled – Integrated service capabilities to enhance competitive advantage.
The Company will closely combine the technology leading advantage in intelligent equipment and the scale
advantage of product application with industrial services and actively promote the implementation of the
23HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
integration strategy of products and services. The Company’s industrial services covering consulting spare
parts sales equipment transportation inspection maintenance and transformation production operation and
maintenance management and other full-scene application forms have now covered all regions except Hong
Kong Macao Taiwan Xizang and its service scale and capacity are industry-leading. The Company’s
professional high-quality and advanced service model has become the preferred choice for customers to
improve quality and efficiency in a complex industrial production environment creating value for customers
and achieving a win-win situation. The mutual promotion and benign interaction between intelligent
equipment and industrial services has formed a good synergy effect and promoted the high-quality
development of the Company’s business.Through the service integration strategy the Company provides customers with multi-dimensional and
full-process integrated solutions for equipment operation guarantee and production operation and
maintenance which helps customers focus on their core business avoid production operation risks and
achieve continuous stable and efficient production.The Company’s professional efficient and high-quality
service model precisely matches the quality improvement and efficiency enhancement demands of complex
industrial production scenarios making it the preferred choice for downstream customers’ intelligent
upgrades and standardized operations. While creating actual value for customers it has also established a
mutually beneficial and win-win situation for both customers and the enterprise. Meanwhile intelligent
equipment and industrial services have formed a development trend of positive interaction and collaborative
empowerment: high-quality services support the efficient implementation and continuous optimization of
equipment and the large-scale application of equipment promotes the expansion of service scenarios and the
upgrading of capabilities further amplifying the core competitive effectiveness.Legend: The coordinated development and positive interaction of intelligent equipment and industrial services
From the perspective of operational value the Company’s industrial service revenue demonstrates dual
growth drivers. Firstly increased sales of intelligent equipment products and expanded operational bases of
client production facilities have driven concurrent growth in service demand leading to steady revenue
expansion. Secondly the acquisition of new large-scale production maintenance service projects has
generated incremental revenue through tiered growth patterns. This synergistic development model—where
product applications drive service provision and services complement product fluctuations— enhances
customer retention effectively mitigates negative impacts from demand volatility in intelligent equipment
24HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
operations strengthens the Company’s overall risk resilience boosts core competitiveness and provides
solid foundations for sustainable long-term growth.
(4)Ecosystem symbiosis—The industrial ecological results stabilize the core competitiveness.
1 Leading competitiveness in the industry driven by advanced technology.
For a long time the Company’s main products and core technologies have maintained a leading position in
the domestic related fields in terms of application scale and have won many industry honors. Relying on its
technological and product strength the Company has built a healthy and sustainable industrial ecosystem
where customers suppliers enterprises and society coexist develop in a coordinated manner and achieve
mutual benefit and win-win results realizing the simultaneous enhancement of value for all parties.
2 Brand competitiveness enhances customer loyalty.Adhering to the development philosophy of “building brands through quality driving upgrades viatechnology and earning trust through service” the Company delivers premium intelligent equipment
solutions and professional industrial services to empower clients in achieving production automation and
transitioning from digitalization to intelligent manufacturing. Through sustained market validation it has
established industry-leading brand recognition and reputation across key domestic application sectors
cultivating exceptional customer loyalty.* Implementing service-oriented manufacturing to empower green low-carbon and high-quality
social development.The Company continues to drive product innovation and technological applications focusing on large-scale
intelligent manufacturing equipment and intelligent factory development. In key application sectors it
25HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
facilitates end-to-end automation and intelligent upgrades across process industries significantly boosting
societal productivity. Through its intelligent manufacturing solutions clients adopt intensive production
models that substantially reduce labor dependency effectively address structural workforce shortages and
enhance worker safety standards all contributing to social progress. With expanding adoption of intelligent
equipment and industrial services the Company further promotes sustainable green and low-carbon
economic development. While delivering substantial social benefits it leverages clients’ tangible cost
reductions and efficiency gains to continuously improve satisfaction and loyalty creating a virtuous cycle of
“social benefits + economic returns”. This approach ensures stable business performance and strong
shareholder returns.The comprehensive content of the Company’s core competitiveness can be found in the Company’s 2025
annual report.
3. Main Businesses Analysis
Overview
In the 2026 H1 the domestic macro-economy continued to consolidate and maintain a positive upward trend.The macro-control policies were precisely implemented with fiscal policies improving in quality and
efficiency and monetary policies being stable and flexible. The country took multiple measures to boost
consumption expand effective investment and stabilize the basic position of the industrial sector. Against
the backdrop of the country's vigorous promotion of new industrialization and the in-depth implementation
of intelligent manufacturing and industrial digitalization upgrades the overall economic operation remained
stable and improved with internal growth momentum continuously strengthened market confidence
continuously restored creating a favorable macro environment for the stable development of the real
economy and the high-end equipment manufacturing industry throughout the year.During the reporting period the Company achieved a revenue of RMB1.369 billion and a net profit
attributable to the parent Company of RMB 235 million. The weighted average return on equity (ROE) was
5.52%. From the perspective of business composition the Company’s core growth businesses intelligent
manufacturing equipment and industrial services generated revenues of RMB 914 million and RMB 374
million respectively. These two businesses accounted for 66.78% and 27.35% of the Company’s overall
revenue and 73.34% and 21.45% of the Company’s overall gross profit. The environmental protection
process and equipment business which served as a beneficial supplement generated revenue of RMB 80
million accounting for 5.87% of the Company’s overall revenue and 5.21% of the gross profit.
26HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
From the perspective of revenue and profit composition the structure of revenue and contribution gross
profit of the Company’s intelligent manufacturing equipment industrial services environmental protection
technology and equipment is shown in the following figure.Operating revenue Gross profit
(RMB 0.1 billion) (RMB 0.1 billion)
Note: in the above figure Contributing Gross profit= Operating revenue of corresponding business – Operating cost the contribution
gross profit does not consider the impact of profit and loss of minority shareholders.During the reporting period the main operating data and main financial indicators realized by the Company
are listed as follows
Unit：RMB
Item 2026H1 2025H1 Year-on-year growth
Operating revenue 1368574570.01 1361906020.97 0.49%
Operating profit 282827083.31 325918599.95 -13.22%
Total profit 282870195.27 325558005.49 -13.11%
Net profit 248739179.06 286552860.48 -13.20%
There of: Attributable to shareholders of the
234544912.50277372460.11-15.44%
parent company
27HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Year-on-year changes to major financial data
Unit: RMB
Increase/Decrease
2026H1 2025H1 over the same period Rationale
of previous year
Operating revenue 1368574570.01 1361906020.97 0.49%
Cost of sales 883619493.41 848278273.31 4.17%
Selling and
57518648.3859500518.45-3.33%
distribution expenses
General and
administrative 59789421.74 57346796.33 4.26%
expenses
Finance expenses 10477331.25 10310006.30 1.62%
Income tax expenses 34131016.21 39005145.01 -12.50%
The share-based payment expenses
Research and recorded as R&D expenses this period
63467320.4170190031.07-9.58%
development expenses decreased compared to the previous
year.Affected by the increase in cash
received from the sale of goods and
Net cash flows from provision of services during the
239829408.7414230937.221585.27%
operating activities reporting period as well as the
decrease in cash paid for the purchase
of goods
Net cash flows from Mainly due to the impact of cash
639432905.21958322159.35-33.28%
investing activities management activities.Net cash flows from Differences in the timing of
-27382614.53-256001030.5589.30%
financing activities distributing annual dividends.Net increase in cash
851915310.00716871196.8418.84%
and cash equivalents
Major changes to the profit structure or sources of the Company in the reporting period:
□ Applicable √ Not applicable
No such cases in the reporting period.
28HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Breakdown of operating revenue:
Unit: RMB
2026H1 2025H1 Increase/Decrease
over the same
Proportion of Proportion of
Amount Amount period of previous
revenue revenue year
Total 1368574570.01 100% 1361906020.97 100% 0.49%
Categorized by industry
Intelligent manufacturing
913970041.4666.78%951645232.6369.88%-3.96%
equipment
Industrial service 374317031.87 27.35% 370926692.60 27.24% 0.91%
Environmental protection process
80287496.685.87%39334095.742.88%104.12%
and equipment
Categorized by product
Post-processing intelligent
manufacturing equipment for 557749706.46 40.75% 785182652.20 57.65% -28.97%
solid material
Post-processing intelligent
manufacturing equipment for 237288221.30 17.34% 123742635.23 9.09% 91.76%
rubber
Robots plus 48166263.71 3.52% 21327691.29 1.57% 125.84%
Intelligent logistics warehousing
70765849.995.17%21392253.911.57%230.80%
systems
Operation maintenance and
after-sales type industrial 338839622.48 24.76% 328880442.12 24.15% 3.03%
services
Supplementary industrial
35477409.392.59%42046250.483.09%-15.62%
services and others
Environmental process and
80287496.685.87%39334095.742.88%104.12%
complete equipment
Categorized by region
Region of east China 400382547.37 29.25% 666637448.23 48.94% -39.94%
Region of south China 159520504.60 11.66% 71717421.39 5.27% 122.43%
Region of central China 61536424.34 4.50% 41115127.26 3.02% 49.67%
Region of north China 82140100.03 6.00% 196520869.96 14.43% -58.20%
Region of northwest China 335412513.63 24.51% 248601124.03 18.25% 34.92%
Region of southwest China 49506431.95 3.62% 49805267.30 3.66% -0.60%
29HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Region of northeast China 263758951.39 19.27% 69134760.52 5.08% 281.51%
Overseas 16317096.70 1.19% 18374002.28 1.35% -11.19%
Industries products or regions accounting for more than 10% of company revenue or operating profit
Unit: RMB
Operating
Cost of sales Gross profit rate
revenue
increased or increased or
Operating increase/
Cost of sales Gross profit rate decreased over decreased over
revenue decrease over
the same period the same period
the same period
of previous year of previous year
of previous year
Categorized by industry
Intelligent manufacturing
913970041.46558322760.8438.91%-3.96%0.82%-2.90%
equipment
Industrial service 374317031.87 270268193.35 27.80% 0.91% -2.82% 2.78%
Environmental protection
80287496.6855028539.2231.46%104.12%235.50%-26.84%
process and equipment
Categorized by product
Post-processing intelligent
manufacturing equipment for 557749706.46 319081068.47 42.79% -28.97% -30.05% 0.88%
solid material
Post-processing intelligent
manufacturing equipment for 237288221.30 149058002.14 37.18% 91.76% 127.42% -9.85%
rubber
Robots plus 48166263.71 41004421.83 14.87% 125.84% 136.13% -3.71%
Intelligent logistics
70765849.9949179268.4030.50%230.80%234.13%-0.70%
warehousing systems
Operation maintenance and
after-sales type industrial 338839622.48 241476655.58 28.73% 3.03% 0.13% 2.06%
services
Supplementary industrial
35477409.3928791537.7718.85%-15.62%-22.08%6.73%
services and others
Environmental process and
80287496.6855028539.2231.46%104.12%235.50%-26.84%
complete equipment
Categorized by region
Region of east China 400382547.37 251066079.15 37.29% -39.94% -32.83% -6.64%
Region of south China 159520504.60 107594191.08 32.55% 122.43% 57.36% 27.89%
30HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Region of central China 61536424.34 40073081.26 34.88% 49.67% 27.17% 11.52%
Region of north China 82140100.03 61936035.90 24.60% -58.20% -43.87% -19.25%
Region of northwest China 335412513.63 216968831.03 35.31% 34.92% 19.89% 8.10%
Region of southwest China 49506431.95 41300544.74 16.58% -0.60% 25.29% -17.23%
Region of northeast China 263758951.39 159795773.74 39.42% 281.51% 296.53% -2.29%
Overseas 16317096.70 4884956.51 70.06% -11.19% -51.44% 24.80%
Where the Company’s statistical criteria for core business data are adjusted during the reporting period the
core business data for the most recent year have been adjusted based on the statistical criteria effective as of
the end of the reporting period.□Applicable √Not applicable
During the reporting period the reasons of operating revenue and gross profit rate change are as
follows:
During the reporting period the revenue from intelligent manufacturing equipment was RMB 914 million a
year-on-year decrease of 3.96%; the revenue from industrial services was RMB 374 million a year-on-year
increase of 0.91%; and the revenue from environmental protection technologies and equipment was RMB 80
million a year-on-year increase of 104.12%.Intelligent manufacturing equipment:
The intelligent manufacturing equipment for post-processing of solid materials due to the low product
delivery level affected the revenue recognition. The Company achieved a revenue of RMB 558 million a
year-on-year decrease of 28.97%. Its gross profit rate increased by 0.88% compared with the same period
last year reaching 42.79% which is at a historically high and excellent level.The rubber post-processing intelligent manufacturing equipment was delivered in full this period generating
a revenue of RMB 237 million an increase of 91.76% compared to the previous year. Its gross profit rate
was 37.18% a decrease of 9.85% compared to the higher profit level of the previous year. This was mainly
due to the lower gross profit rate of a certain single customer’s 50 million-level project. After excluding its
influence the average gross profit rate of the remaining projects reached 45.39% and the product
maintained good market competitiveness.The intelligent logistics and warehousing system as well as the “robot plus” product category the amount
of deliveries increased this period achieved revenue of RMB 71 million and RMB 48 million respectively.Among them the intelligent logistics and warehousing system maintained a high level of product delivery
with revenue growing by 230.80% year-on-year and a gross profit rate of 30.50% which is within the
historically high gross profit rate range of this business. In the “robot plus” category this period saw
deliveries of special operation robots for high-temperature environments such as silicon manganese and
silicon iron industrial silicon as well as silicon iron disc casting machines. This was the first time in history
that multiple types of products were delivered in a single reporting period driving the revenue growth of the
31HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
“robot plus” business by 125.84%. However the launch of some new product categories led to higher costs
resulting in project losses which lowered the gross profit rate of the “robot plus” products to 14.87%.Industrial services: As one of the core growth businesses of the Company industrial services have
maintained a long-term stable and continuous growth. During the reporting period the industrial services
achieved a revenue of RMB 374 million with a year-on-year increase of 0.91%. The gross profit rate
increased by 2.78% compared to the same period last year reaching a favorable level of 27.80%. Among
them the revenue from operation and maintenance and after-sales industrial services was RMB 339 million
with a year-on-year increase of 3.03% and the gross profit rate increased by 2.06% to 28.73%;
supplementary industrial services and others achieved a revenue of RMB 35 million with a year-on-year
decrease of 15.62% and the gross profit rate increased by 6.73% to 18.85%.Environmental protection technology and equipment: During the reporting period the Company achieved a
significant year-on-year increase in revenue of 104.12% to RMB 80 million. Due to the relatively low profit
level of the environmental protection technology and equipment installations delivered this period the
Company’s gross profit rate decreased significantly to 31.46% year-on-year which provided a beneficial
supplement to the overall performance of the Company.From the region perspective based on the Company’s business model the operating revenue usually varies
from period to period which is mainly affected by demand fluctuations from region to region and structural
changes of product demand as well as Company response demands completion of product delivery and
acceptance progress etc. It is not a typical fluctuation of gross profit rate divided by region please refer to
explanation of operating revenue and gross profit rate changes for details.
4. Analysis of Non-Core Businesses
□Applicable √Not applicable
5. Analysis of Assets and Liabilities
(1) Significant Changes in Asset Composition
Unit: RMB
End of current reporting period End of previous year Increase/
Proportion of Proportion of Decrease in Major changes
Amount Amount
total asset total asset proportion
Cash at bank and on Mainly due to impacts on cash
974981195.7213.39%123312905.581.69%11.70%
hand management activities.Accounts receivable 1255197416.07 17.24% 1257355174.66 17.22% 0.02%
The quality guarantee deposit
receivable decreased
Contract assets 117633678.10 1.62% 192614086.16 2.64% -1.02%
compared to the end of the
previous year.
32HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Inventories 2061007257.14 28.30% 2143789860.13 29.36% -1.06%
Investment properties 12648373.01 0.17% 13041242.51 0.18% -0.01%
Long-term equity
543577505.657.46%564728509.757.73%-0.27%
investments
Fixed assets 381207395.66 5.23% 378299699.38 5.18% 0.05%
The Company’s real estate
Construction in purchased for industrial
0.000.00%15834590.040.22%-0.22%
progress service business transferred to
the fixed asset..Mainly due to subsidiaries
Short-term loans 26159543.65 0.36% 48045233.34 0.66% -0.30% repay part of its bank loans
this period.Contract liabilities 1585305090.92 21.77% 1726130402.84 23.64% -1.87%
(2) MajorAssets Overseas
□Applicable √Not applicable
(3) Assets and liabilities measured at fair value
√Applicable □Not applicable
Unit: RMB
Amount
Profit or loss
Cumulative fair provided
from change
value change for Purchased in the Sold in the
Item Opening balance in fair value Other changes Closing balance
charged to impairm period period
during the
equity ent in the
period
period
Financial
assets
Financial asset
held for
trading
1998076613.714277750.333147595496.313771681864.871378267995.48
(excluding
derivativefinancial )）
Investments in
other equity 71286412.52 33448566.70 71286412.52
instruments
Financing 41257668.78 -1835734.08 39421934.70
33HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
receivables
Sub-total of
2110620695.014277750.3333448566.703147595496.313771681864.87-1835734.081488976342.70
the above
Financial
liabilities
Note:the financial asset held for trading above-mentioned mainly are monetary fund and structural bank
deposits for cash management of temporarily unused self-owned based on the resolution of the Board of
Shareholders.Whether there were any material changes on the measurement attributes of major assets of the Company
during the reporting period
□ Yes √ No
(4)Restricted asset rights as of the end of this Reporting Period
Book value at the end
Item Limitation reason
of period（RMB）
Cash at bank and on hand 974000.00 Bank deposit on letter of guarantee.Cash at bank and on hand 7800.00 Minimum deposit of ETC toll bank account.Total 981800.00
6. Risks Facing by the Company and Countermeasures
(1) The risk that “robot plus” and China intelligent equipment demand are less than expected.
In 2026 H1 the domestic price level steadily increased and signs of structural improvement in the economy
emerged. However the global economy still faces uncertainties such as geopolitical conflicts and trade
protectionism. The pace of domestic consumption recovery was relatively slow. The Company’s intelligent
equipment is mainly targeted at the basic raw material industry. In the short term it is limited by the
fluctuations in the macroeconomy. However if the domestic demand recovery is not as expected the
long-term pressure on customer product prices will continue which may affect their willingness to build new
facilities or renovate and upgrade and suppress the demand for high-end intelligent equipment. This will
have a negative impact on the Company’s medium and long-term performance.Solutions: The Company has long been deeply engaged in the field of intelligent manufacturing equipment
enjoying significant brand advantages and customer loyalty within the industry. The Company has
established long-term and stable cooperative relationships with leading enterprises in product application
industries. The main customers are continuously promoting digitalization and intelligence transformation
which is expected to provide continuous growth space for the Company. The Company will further focus on
the overall solutions for intelligent workshops and intelligent factories deeply integrate into the national
34HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
digitalization development strategy and seize policy benefits. At the same time the Company continuously
strengthens R&D investment promotes technological application innovation and product iteration uses
high-quality innovative products to guide customer demands helps traditional industries upgrade their
technologies opens up emerging market opportunities and effectively responds to market demand
fluctuation risks factors.
(2) The risks that the R&D of intelligent manufacturing equipment and the process of industrial
digitalization are less than expected.The Company has the ability to provide customers with overall intelligent manufacturing solutions and
intelligent factories in the main application fields of large-scale intelligent complete equipment. Currently
China is accelerating its transformation from a manufacturing giant to a manufacturing power. The demand
for digital workshops and intelligent factories is continuously increasing. According to the national
intelligent manufacturing development plan. By 2035 digitalization and networking will be fully
popularized among manufacturing enterprises above designated size and key enterprises in major industries
will basically achieve intelligence. Facing the huge market demand prospects of industrial digitalization if
the Company fails to promptly expand into new technological application fields or fails to effectively
respond to guide and meet market demands in product development and the process of industrial
digitalization falls short of expectations it may miss out on market dividends which will have an adverse
impact on the Company’s medium and long-term development and become one of the risk factors the
Company is confronted with.Solutions: Firstly in the process of product research and development project initiation the Company selects
areas with high market demand strong replicability and where the Company has technical reserve
advantages. This helps to reduce research and development risks and improve the efficiency of subsequent
market promotion. Furthermore expand “across the surface” and concentrate resources to strengthen the core
aspects. For mature non-critical supporting technologies leverage social resources for collaboration to
accelerate the launch of product solutions. At the same time enhance “intelligence” the Company
formulates standardized modules for intelligent manufacturing and factory digitization product solutions
which is conducive to the replication and promotion of product technologies among different customers and
industries accelerating the industrialization process and effectively responding to relevant risk factors.
(3) The risk that artificial intelligence technology cannot be deeply applied in the Company’s overall
solution of intelligent manufacturing.With the accelerated development of digital infrastructure such as 5G and industrial internet intelligent
manufacturing has entered an important opportunity window. Artificial intelligence technology is not only
the key support for realizing the digitalization and intelligence of factories but also determines the depth and
level of future intelligent manufacturing. Although the Company has a significant competitive advantage in
product application fields if it fails to deeply integrate the AI technology based on 5G and industrial internet
into the overall solution of intelligent manufacturing it may restrict the speed and quality of the Company’s
medium and long-term development and constitute one of the potential risk factors.Solutions: Currently although most of the large-scale industrial enterprises in our country have established
35HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
automated production lines the proportion of digitalization is still relatively low and the interconnection of
factory data and intelligent applications are also relatively low. Compared with advanced countries in the
world our overall level still has a considerable gap. There is a vast space for industry development. The
Company focuses on intelligent manufacturing equipment and has a profound technical accumulation and
rich product application experience. The Company will continue to promote the integration application of
artificial intelligence technology based on 5G and industrial internet in the overall intelligent manufacturing
solutions in the advantageous application fields accelerate the iteration and application implementation of
the solutions. At the product development level the Company has focused on increasing investment in the
application of artificial intelligence technology in the digitalization and intelligence of the manufacturing
industry. It aims to accumulate project experience establish technical reserves build competitive advantages
and mitigate risks.
(4) The risk that industrial services expand less than expected.
The industrial service business is a crucial driver of the Company’s performance growth and an effective
buffer to smooth out fluctuations in equipment revenue. Currently although the production and operation
maintenance segment within the industrial service business maintains stable development compared to the
large domestic production capacity base its market penetration rate is still relatively low in the long term
there is considerable potential for growth.. However if the Company fails to continuously expand its service
scope and accurately respond to the increasingly diverse demands of customers it will constitute one of the
risk factors that restrict the Company’s medium- and long-term development.Solutions: The Company has implemented the service integration strategy for a long time which is deeply in
line with the national industrial orientation of promoting service-oriented manufacturing. Currently the
Company has established an industrial service network covering the entire country (excluding Hong Kong
Macao Taiwan and Xizang) possessing the ability to respond quickly and provide nationwide services and
continuously contributing stable revenue and profits. The Company’s industrial service business is rooted in
the main business of intelligent equipment and the two form a positive interaction and mutual empowerment.With the continuous growth of the Company’s installed capacity of intelligent manufacturing equipment and
the expanding demand for post-market services it provides strong internal driving force for the development
of industrial services. Facing the industrial opportunity of the integration of advanced manufacturing and
modern services in the country the Company will actively seize market opportunities strengthen competitive
advantages continuously focus on the development of industrial service business and actively respond to
risk factors.
(5)The risk that “robot plus” development opportunities cannot expanded industrial directions
effectively
Since 2005 the Company has been applying its own intellectual property-based industrial robots to customer
sites continuously integrating robot perception and control technologies into large-scale intelligent complete
equipment and maintaining a technological lead in related fields for a long time. In recent years the
Company has made positive progress in the research and development application and industrialization of
high-temperature special operation robots for electric lime kilns and has successfully delivered two
demonstration projects of the overall solutions for electric lime intelligent factories (workshops); at the same
36HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
time the R&D of special operation robots for high-temperature environments in silicon iron silicon
manganese and industrial silicon electric lime kilns has also achieved successful application. If the Company
fails to continue innovating in the “robot plus” direction fails to effectively replicate intelligent factories and
expand the application of new technologies it will have an adverse impact on the Company’s medium and
long-term competitiveness and constitute one of the risk factors affecting the Company’s medium and
long-term competitiveness.Solutions: Two demonstration projects of intelligent factories (workshops) for calcium carbide production in
the “robot plus” direction have been successfully delivered and put into operation for production marking a
significant industry transformative breakthrough for the Company in this field. The Company has
implemented an intelligent transformation project for traditional electric calcium carbide smelting furnaces
and has achieved positive expected results. At the same time the Company has increased its investment in
R&D and application resources in the “robot plus” direction. In the field of integrated robots for inspection
and operation it has made positive progress and is expected to continuously contribute growth momentum to
the Company. “Robots are the most precious gem on the crown of manufacturing” the Company
continuously combines its technological advantages in this field product application experience and market
demand accelerates R&D and market promotion and application overcomes unfavorable external
environmental factors seizes opportunities and responds to risk factors.
(6) The risk of technology confidentiality and unfair competition.
Technology leading is one of the important competitive strategies and competitive advantages of the
Company. The technology leading advantage of the products directly affects whether the Company’s
products can maintain a high level of sustainable profitability and the effective implementation of the
Company’s differentiated competitive strategy. The Company attaches great importance to technology
confidentiality by applying for intellectual property protection strengthening legal rights protection and
protecting the technology security of enterprises and preventing related risks through technical means.Nevertheless there are still intellectual property rights owned by the Company illegally stolen and other
risks of unfair competition which may cause potential economic losses to the Company. These risks may
cause potential economic losses to the Company affect its long-term competitiveness and advantageous
position and constitute one of the risk factors that the company faces.Solutions: The Company’s technology is divided into patented technology and proprietary technology from
the characteristics of technical confidentiality each has its own applicable environment. In addition to the
traditional technology confidentiality and anti-improper competition means the Company by means of
technology R&D and innovation continues to enhance technology reserve to keep one generation of R&D
one generation of reserve and one generation of sales to maintain the absolute competitive advantage in the
domestic main product application field. Therefore through continuous technological innovation continuing
to consolidate and establishing technical advantages are the primary strategy for the Company to deal with
technology confidentiality and face unfair competition.The aforementioned risk factors are of concern to the Company which actively implements measures to
effectively mitigate and manage these risks.
37HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
IV. Financial statements
(1) Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO. LTD. Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash at bank and on hand 974981195.72 123312905.58
Financial assets held for trading 1378267995.48 1998076613.71
Derivative financial assets
Bills receivable 134220633.45 191618917.60
Accounts receivable 1255197416.07 1257355174.66
Financing receivables 39421934.70 41257668.78
Prepayments 68416830.66 91571102.97
Other receivables 40527818.80 24727232.15
Thereof: Interest receivable
Dividend receivable 11519712.00
Financial assets purchased under resale agreements
Inventories 2061007257.14 2143789860.13
Contract assets 117633678.10 192614086.16
Assets held for sale
Non-current assets due within one year 4739103.72 7217471.31
Other current assets 17163357.64 23548785.74
Total current assets 6091577221.48 6095089818.79
Non-current assets:
Debt investments
Other debt investments
Long-term receivables 36896786.73 42260512.06
Long-term equity investments 543577505.65 564728509.75
Other equity instruments investments 71286412.52 71286412.52
Other non-current financial assets
Investment properties 12648373.01 13041242.51
Fixed assets 381207395.66 378299699.38
Construction in progress 15834590.04
38HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Productive biological assets
Oil and gas assets
Right-of-use assets 3060830.41 2920312.68
Intangible assets 48674822.48 50537962.14
Goodwill 401878.10 401878.10
Long-term deferred expenses 96975.76 83196.64
Deferred tax assets 57265132.49 53818437.26
Other non-current assets 35434142.85 14547719.70
Total non-current assets 1190550255.66 1207760472.78
Total assets 7282127477.14 7302850291.57
Current liabilities:
Short-term loans 26159543.65 48045233.34
Financial liabilities held for trading
Derivative financial liabilities
Bills payable 18139213.96
Accounts payable 290854492.40 364384987.86
Advances from customers 142125.38
Contract liabilities 1585305090.92 1726130402.84
Employee benefits payable 20579607.59 80441917.83
Taxes payable 18045664.61 28027949.35
Other payables 265245088.80 21095026.02
Thereof: Interest payable
Dividend payable 260540393.75 4900000.00
Liabilities held for sale
Non-current liabilities due within one year 6888581.67 3246728.70
Other current liabilities 97314956.10 110850793.74
Total current liabilities 2328674365.08 2382223039.68
Non-current liabilities:
Long-term loans
Bonds payable 468029167.61 461630937.11
Thereof: Preference shares
Perpetual debts
Lease liabilities 920262.41 520837.60
Long-term payable
39HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Long-term employee benefits payable
Provisions 6772746.72 7220080.16
Deferred income 21875111.05 22540777.76
Deferred tax liabilities 22893940.76 20970098.23
Other non-current liabilities 76552963.36 56526839.53
Total non-current liabilities 597044191.91 569409570.39
Total liabilities 2925718556.99 2951632610.07
Shareholders’ equity：
Share capital 1022561575.00 1022561509.00
Other equity instruments 27205566.94 27205627.42
Thereof: Preference shares
Perpetual debts
Capital reserve 385980562.40 381873967.60
Less: treasury shares 0.00 13368803.26
Other comprehensive income 28144581.33 28652346.24
Specific reserve 28700530.56 28232764.07
Surplus reserve 451872926.93 451872926.93
General risk reserve
Retained earnings 2223709864.49 2244805345.74
Total equity attributable to shareholders of the parent company 4168175607.65 4171835683.74
Minority shareholder equity 188233312.50 179381997.76
Total shareholders’ equity 4356408920.15 4351217681.50
Total liabilities and shareholders’ equity 7282127477.14 7302850291.57
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2) Balance Sheet of Parent Company
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash at bank and on hand 893670417.99 93257883.56
Financial assets held for trading 1274965051.71 1813058231.74
Derivative financial assets
Bills receivable 114768553.99 173383412.16
Accounts receivable 1169403923.69 1157525413.51
40HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Financing receivables 25497035.73 29049436.90
Prepayments 75922211.01 80177885.72
Other receivables 41447114.45 26576620.49
Thereof: Interest receivable 0.00 0.00
Dividend receivable 16619712.00 5100000.00
Inventories 1827219888.72 1891241136.66
Contract assets 112807013.75 185112002.16
Assets held for sale
Non-current assets due within one year 4739103.72 7217471.31
Other current assets 6676595.64 7946660.59
Total current assets 5547116910.40 5464546154.80
Non-current assets:
Debt investments
Other debt investments
Long-term receivables 36896786.73 42260512.06
Long-term equity investments 914505835.65 935889877.97
Other equity instruments investments 35005732.52 35005732.52
Other non-current financial assets
Investment properties 9124363.57 9380344.33
Fixed assets 202364347.91 193541662.63
Construction in progress 15834590.04
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 38429657.54 39475254.60
Goodwill
Long-term deferred expenses 96975.76 83196.64
Deferred tax assets 42308588.45 42538978.82
Other non-current assets 33862990.56 13068876.11
Total non-current assets 1312595278.69 1327079025.72
Total assets 6859712189.09 6791625180.52
Current liabilities:
Short-term loans 1295233.34
Financial liabilities held for trading
41HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Derivative financial liabilities
Bills payable 18139213.96
Accounts payable 468686662.42 538378227.88
Advances from customers
Contract liabilities 1469868097.88 1573619054.10
Employee benefits payable 16173427.97 54498296.50
Taxes payable 14102854.84 21941979.54
Other payables 283877189.18 32216361.47
Thereof: Interest payable
Dividend payable 255640393.75
Liabilities held for sale
Non-current liabilities due within one year 5212972.04 1867061.53
Other current liabilities 86902151.63 96149314.28
Total current liabilities 2362962569.92 2319965528.64
Non-current liabilities:
Long-term loans
Bonds payable 468029167.61 461630937.11
Thereof: Preference shares
Perpetual debts
Lease liabilities
Long-term payable
Long-term employee benefits payable
Provisions 5001077.30 5289999.00
Deferred income 21875111.05 22540777.76
Deferred tax liabilities 12475730.96 10826871.21
Other non-current liabilities 47845198.27 34141798.27
Total non-current liabilities 555226285.19 534430383.35
Total liabilities 2918188855.11 2854395911.99
Shareholders’ equity：
Share capital 1022561575.00 1022561509.00
Other equity instruments 27205566.94 27205627.42
Thereof: Preference shares
Perpetual debts
Capital reserve 384215356.79 380081311.69
42HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Less: treasury shares 0.00 13368803.26
Other comprehensive income 5413292.43 5921057.34
Specific reserve 19948029.85 20506135.87
Surplus reserve 451872926.93 451872926.93
Retained earnings 2030306586.04 2042449503.54
Total shareholders’ equity 3941523333.98 3937229268.53
Total liabilities and shareholders’ equity 6859712189.09 6791625180.52
(3) Consolidated Income Statement
Unit: RMB
Item Current period Last period
1. Total revenue 1368574570.01 1361906020.97
Thereof : Operating revenue 1368574570.01 1361906020.97
2. Total cost 1083410453.87 1059353053.65
Thereof : cost of sales 883619493.41 848278273.31
Taxes and surcharges 8538238.68 13727428.19
Selling and distribution expenses 57518648.38 59500518.45
General and administrative expenses 59789421.74 57346796.33
Research and development expenses 63467320.41 70190031.07
Financial expenses 10477331.25 10310006.30
Thereof : Interest expenses 10225560.72 9893461.58
Interest income 538918.91 1167267.77
Add: Other income 4689689.26 16969893.49
Investment income ("-" for losses) 11413573.22 22715561.64
Thereof: Income from investment in associates and joint
-110095.0811525414.05
ventures
Gain from derecognition of financial assets measured at
amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value ("-" for losses) 4277750.33 5094741.50
Credit impairment losses ("-" for losses) -13792789.86 -13743781.12
Impairment losses ("-" for losses) -8908619.41 -8236461.47
Gains from assets disposal ("-" for losses) -16636.37 565678.59
43HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
3. Operating profit ("-" for losses) 282827083.31 325918599.95
Add: Non-operating income 214213.66 25382.27
Less: Non-operating expenses 171101.70 385976.73
4. Profit before income tax ("-" for losses) 282870195.27 325558005.49
Less: Income tax expenses 34131016.21 39005145.01
5. Net profit for the year ("-" for net losses) 248739179.06 286552860.48
(1) Classification according to operation continuity
Net profit from continuing operations(loss is stated with “-”) 248739179.06 286552860.48
Net profit from discontinued operations(loss is stated with “-”)
(2) Classified by ownership of the equity
Attributable to shareholders of the parent company(loss is stated
234544912.50277372460.11
with “-”)
Minority interests(loss is stated with “-”) 14194266.56 9180400.37
6. Other comprehensive income net of tax -507764.91 917071.74
Other comprehensive income attributable to shareholders of the
-507764.91917071.74
Parent Company net of tax
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
1) Changes arising from re-measurement of defined
benefit plan
2) Other comprehensive income that will not be
transferred subsequently to profit or loss under the equity method
3) Changes in the fair value of the investment in other
equity instruments
4)Changes in the fair value of the Company’s own credit
risk
5)Others
(2) Other comprehensive income items which will be
-507764.91917071.74
reclassified subsequently to profit or loss
1) Other comprehensive income that will be transferred
-507764.91917071.74
subsequently to profit or loss under the equity method
2)Changes in the fair value of other debt investments
3)Amount of financial assets reclassified and included in
other comprehensive income
4) Credit impairment reserves for other debt investment
5) Cash flow hedging reserve
6) Translation differences arising from translation of
44HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
foreign currency financial statements
7)Others
Other comprehensive income attributable to minority shareholders
net of tax
7. Total comprehensive income 248231414.15 287469932.22
Attributable to shareholders of the parent company 234037147.59 278289531.85
Minority interests 14194266.56 9180400.37
8. Earnings per share
(1) Basic earnings per share 0.2297 0.2732
(2) Diluted earnings per share 0.2297 0.2714
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(4)Income Statement of Parent Company
Unit: RMB
Item Current period Last period
1. Total revenue 1236959669.99 1208214259.80
Less: cost of sales 798357472.95 773863242.40
Taxes and surcharges 5977124.49 11385062.35
Selling and distribution expenses 52575971.56 57227066.61
General and administrative expenses 47914526.17 40423162.36
Research and development expenses 46846606.83 55479430.97
Financial expenses 9925151.59 9888148.70
Thereof : Interest expenses 9745178.48 9436343.35
Interest income 530703.96 1022996.53
Add: Other income 1638067.16 11887112.35
Investment income ("-" for losses) 16377156.89 26842916.62
Thereof: Income from investment in associates and joint
-110095.0811525414.05
ventures
Gain from derecognition of financial assets measured at
amortized cost("-" for losses)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value ("-" for losses) 3788850.80 4482135.62
Credit impairment losses ("-" for losses) -13414348.92 -13854140.19
Impairment losses ("-" for losses) -5254505.28 -6662942.77
Gains from assets disposal ("-" for losses) -6814.15 573566.08
45HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
2. Operating profit ("-" for losses) 278491222.90 283216794.12
Add: Non-operating income 16950.33 6295.07
Less: Non-operating expenses 161252.03 384562.35
3. Profit before income tax ("-" for losses) 278346921.20 282838526.84
Less: Income tax expenses 34849444.95 33907531.96
4. Net profit for the year ("-" for net losses) 243497476.25 248930994.88
Net profit from continuing operations (loss is stated with “-”) 243497476.25 248930994.88
Net profit from discontinued operations (loss is stated with “-”)
5. Other comprehensive income net of tax -507764.91 917071.74
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
1) Changes arising from remeasurement of defined
benefit plan
2) Other comprehensive income that will not be
transferred subsequently to profit or loss under the equity method
3) Changes in the fair value of the investment in other
equity instruments
4)Changes in the fair value of the Company’s own credit
risk
5)Others
(2) Other comprehensive income items which will be
-507764.91917071.74
reclassified subsequently to profit or loss
1) Other comprehensive income that will be transferred
-507764.91917071.74
subsequently to profit or loss under the equity method
2)Changes in the fair value of other debt investments
3)Amount of financial assets reclassified and included in
other comprehensive income
4) Credit impairment reserves for other debt investment
5) Cash flow hedging reserve
6) Translation differences arising from translation of
foreign currency financial statements
7)Others
6. Total comprehensive income 242989711.34 249848066.62
7. Earnings per share
(1) Basic earnings per share
(2) Diluted earnings per share
46HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
(5) Consolidated Cash Flow Statement
Unit: RMB
Item Current period Last period
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 1268294532.41 1120339970.19
Refund of taxes and surcharges 3537514.94 11555672.36
Other cash receipts relating to operating activities 5958518.21 31769864.45
Sub-total of cash inflows from operating activities 1277790565.56 1163665507.00
Cash paid for goods and services 520371439.21 599866239.16
Cash paid to employees and paid on behalf of employees 345799518.30 321819788.04
Payments of taxes and surcharges 98280424.94 156838340.99
Other cash payments relating to operating activities 73509774.37 70910201.59
Sub-total of cash outflows from operating activities 1037961156.82 1149434569.78
Net cash flows from operating activities 239829408.74 14230937.22
2. Cash flows from investing activities
Cash received from withdrawing investments 3767324597.91 6019936121.39
Cash received from investment income 27837482.96 34024264.02
Net cash received from disposal of fixed assets intangible
43675.101751612.27
assets and other long term assets
Net cash received from disposal of subsidiaries and other
operating units
Other cash receipts relating to investing activities 1575600.00
Sub-total of cash inflows from investing activities 3795205755.97 6057287597.68
Cash paid to acquire fixed assets intangible assets and other
8622252.8519656930.33
long-term assets
Cash paid to acquire investments 3146984597.91 5078619000.00
Net increase of mortgaged loans
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities 166000.00 689508.00
Sub-total of cash outflows from investing activities 3155772850.76 5098965438.33
Net cash flows from investing activities 639432905.21 958322159.35
3. Cash flows from financing activities
Cash received from capital contributions 325000.00
Thereof: Cash received by subsidiaries from minority
325000.00
shareholders’ capital contributions
47HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Cash received from borrowings 1159581.33 23793580.44
Other cash receipts from financing activities
Sub-total of cash inflows from financing activities 1159581.33 24118580.44
Cash repayments of borrowings 21750000.00 17950000.00
Distribution of dividends or profits and payments for interest
6031388.86261451190.99
expenses
Thereof: Cash payments for dividends or profit to minority
5635000.005400000.00
shareholders by subsidiaries
Other cash payments relating to financing activities 760807.00 718420.00
Sub-total of cash outflows from financing activities 28542195.86 280119610.99
Net cash flows from financing activities -27382614.53 -256001030.55
4. Effect of foreign exchange rate changes on cash and cash
35610.58319130.82
equivalents
5. Net increase in cash and cash equivalents 851915310.00 716871196.84
Add: Cash and cash equivalents at the beginning of period 122084085.72 51529654.30
6. Cash and cash equivalents at the end of period 973999395.72 768400851.14
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(6)Cash Flow Statement of Parent Company
Unit: RMB
Item Current period Last period
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 1167576678.57 1033807255.47
Refund of taxes and surcharges 8652809.30
Other cash receipts relating to operating activities 2467435.39 28185055.78
Sub-total of cash inflows from operating activities 1170044113.96 1070645120.55
Cash paid for goods and services 657294120.28 701447683.93
Cash paid to employees and paid on behalf of employees 129666594.20 132975703.70
Payments of taxes and surcharges 77704190.66 133395201.77
Other cash payments relating to operating activities 69607445.78 70079116.96
Sub-total of cash outflows from operating activities 934272350.92 1037897706.36
Net cash flows from operating activities 235771763.04 32747414.19
2. Cash flows from investing activities
Cash received from withdrawing investments 3331860000.00 5320867121.39
Cash received from investment income 32576728.90 37223255.42
48HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
Net cash received from disposal of fixed assets intangible
77758.151784984.63
assets and other long term assets
Net cash received from disposal of subsidiaries and other
operating units
Other cash receipts relating to investing activities 1115600.00
Sub-total of cash inflows from investing activities 3364514487.05 5360990961.44
Cash paid to acquire fixed assets intangible assets and other
6408326.712035924.57
long-term assets
Cash paid to acquire investments 2793500000.00 4518350000.00
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities
Sub-total of cash outflows from investing activities 2799908326.71 4520385924.57
Net cash flows from investing activities 564606160.34 840605036.87
3. Cash flows from financing activities
Cash received from capital contributions
Cash received from borrowings
Other cash receipts from financing activities
Sub-total of cash inflows from financing activities
Cash repayments of borrowings
Distribution of dividends or profits and payments for interest
255640218.25
expenses
Other cash payments relating to financing activities
Sub-total of cash outflows from financing activities 255640218.25
Net cash flows from financing activities -255640218.25
4. Effect of foreign exchange rate changes on cash and cash
35611.05319130.82
equivalents
5. Net increase in cash and cash equivalents 800413534.43 618031363.63
Add: Cash and cash equivalents at the beginning of period 93249083.56 33298801.82
6. Cash and cash equivalents at the end of period 893662617.99 651330165.45
Board of Directors of HARBIN BOSHI AUTOMATION CO. LTD.August 28th 2026
49HARBIN BOSHI AUTOMATION CO. LTD. Semi-Annual Report 2026(Abstract）
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