Ankai Micro: H1 revenue surges 86%, plans edge inference chip and small-parameter LLM chip

Date of Announcement: September 21, 2026 Meeting Date: September 15, 2026 Participants: Guotai Haitong, Investors

Key Financial Performance (First Half of 2026)

In the first half of 2026, the company seized the historical opportunity presented by the accelerated普及 of edge-side AI and the large-scale commercialization of emerging AI hardware such as AI glasses. The company drove a comprehensive upgrade of product applications toward "multimodal intelligence," resulting in significant improvements in operational quality and profitability.

Reported Figures (H1 2026):

• Operating Revenue: RMB 435.7944 million, up 85.99% year-on-year
• R&D Expenses: RMB 93.5548 million, up 38.76% year-on-year
• Gross Margin: 39.64%, an increase of 24.35 percentage points year-on-year
• Net Profit Attributable to Shareholders: RMB 40.2667 million, returning to profitability

Key Drivers of Performance Improvement:

• Successful market penetration of existing products
• Price adjustments in response to rising upstream raw material and packaging costs
• Sustained market景气度

Business Layout and Product Applications

The company designs and sells AI SoC chips that empower AI hardware, with core capabilities in multimodal perception and intelligent processing ("vision + voice + sensing").

Application Areas:

• Smart Home
• Smart Wearables
• Smart Security
• Smart Office
• Smart Healthcare
• Industrial IoT

Typical End Products:

• Smart cameras
• AI glasses
• AI cameras
• Action cameras
• OV low-power cameras
• Desktop robots
• Smart control panels
• Smart locks
• AI earphones
• Smart watches/bands
• Smart helmets

Strategic Moves:

• Acquired Siche Technology and consolidated it into financial statements
• Collaborating with investee company Shiqi Future on large-model algorithms
• Building a full-stack ecosystem barrier integrating "vision + audio + connectivity + graphics + AI algorithms"

Q&A Highlights

Q: Future growth points and development direction?

A: The company aims to deepen relationships with key clients, expand into top-tier customers, and explore new product categories and markets. The goal is to accelerate the large-scale deployment of AI SoC chips across diverse scenarios.

Key Initiatives:

• Continue penetration of self-developed SoC chips into AI glasses, AI cameras, smart locks, OV low-power cameras, AI earphones, desktop robots, and other terminal applications
• Expand into new product solutions such as smart healthcare terminals and smart interactive terminals
• New product launches and successful market entry form the foundation for sustained revenue growth

Technology Roadmap:

• Continue innovation and iteration of NPU and other AI technologies
• Upgrade chip computing power from edge-side lightweight AI to edge inference
• Higher-computing-power chips supporting edge inference are already in R&D planning
• Aim to support larger-parameter large models running on edge devices

Overseas Markets:

• Singapore subsidiary serves as the international operations and business expansion center
• Focus on expanding overseas markets and strengthening localized operations and service capabilities
• Improve response speed and customer acquisition efficiency in overseas markets

Risk Note: The pace of edge-side AI application deployment, overseas markets, and supply chains may fluctuate. Investors are advised to be aware of investment risks.

Q: Why acquire Siche Technology given the number of Bluetooth chip companies in the market?

A: The acquisition was a strategic decision to:

• Complement underlying hardware capabilities, extending business boundaries from smart home, smart security, and smart office into incremental markets such as smart wearables and smart health
• Strengthen technical advantages in low power consumption, analog RF, etc.
• Generate strong synergies in R&D, product development, business expansion, market and customer resource sharing, and supply chain integration
• Complete the technology puzzle of "audio/video + connectivity + image/graphics + low power consumption"
• Expand product categories and create new revenue and profit growth points in broader markets

About Siche Technology:

• Focuses on high-performance Bluetooth MCUs and high-definition smart display chips
• Specializes in ultra-low-power IoT data acquisition and processing
• Leading advantages in RF and power consumption core metrics
• Strong technical barriers and complete software ecosystem in high-end smart wearables, in-vehicle control panels, and industrial connectivity
• Flagship product: SF series low-power Bluetooth chips, recognized as benchmark products in mid-to-high-end smart wearables and display interaction markets
• Adopted by well-known brands including Yuwell, Xiaomi, Honor Choice, Keep, OnePlus, Pebble, Xiaoxun, etc.

Long-term Vision:

• The integration of Siche Technology will further strengthen the company's underlying hardware foundation
• Together, the companies aim to provide full-stack platforms and solutions for multimodal edge-side intelligent terminals in the AI application and embodied intelligence赛道
• Industry competition is shifting from pure chip hardware performance to comprehensive capabilities in "chip + algorithm + toolchain + ecosystem"
• Platform-based chip design companies with full-stack edge-side AI SoC delivery capabilities will occupy more advantageous value nodes in the industry chain

Q: When will the next-generation high-computing-power AI SoC chip be commercially launched?

A: The company plans to develop AI SoC chips with higher computing power specifications. These chips will be capable of running large language models with several billion parameters and performing multimodal, high-complexity intelligent computing tasks such as edge inference. The product is expected to complete tape-out next year. For specific details, please refer to the company's periodic reports or official website.

Q: What is the quarter-on-quarter revenue trend for chip sales in Q3 2026?

A: The third quarter of 2026 has not yet concluded. Relevant data will be available after financial accounting at the end of the quarter. Based on the company's historical performance, the second half of the year typically exceeds the first half. As of now, Q3 operations are normal. Please refer to the company's subsequent Q3 2026 report for official figures.

Q: What is the current status of orders on hand and contract liabilities?

A: As of June 30, 2026, the company's consolidated contract liabilities increased by 1,084.62% compared to the end of the previous year, primarily due to strong market demand for products and increased advance payments from customers. Current order status is normal.

Q: Have the performance targets set in the company's equity incentive plan been achieved?

A: The company's 2025 restricted stock incentive plan covers two assessment years: 2025 and 2026. The 2025 performance target has been achieved, and the conditions for the first vesting period have been met. Relevant announcements have been made on the Shanghai Stock Exchange. The 2026 performance assessment will be based on audited data for the year. The assessment period has not yet ended. Please follow the company's announcements for further updates.

Q: Does the company have the capability and plans to develop edge-side large models?

A: Yes, the company has both the capability and the plan.

• End of this year or early next year: Launch of chip samples supporting smaller-parameter large models
• Mid-next year: Launch of chip samples supporting larger-parameter large models
• Subsequent iterations: More powerful computing chips will be released

For specific technical details and R&D plans, please refer to the company's periodic reports.

Company Overview

Ankai Micro (688620) is primarily engaged in the R&D, design, final testing, and sales of core SoC chips for IoT smart hardware.

H1 2026 Financial Highlights

| Metric | Value | YoY Change | |--------|-------|------------| | Operating Revenue | RMB 436 million | +85.99% | | Net Profit Attributable to Shareholders | RMB 40.2667 million | +181.76% | | Deducted Non-recurring Net Profit | RMB 39.8525 million | +180.79% | | Q2 2026 Revenue | RMB 286 million | +115.91% | | Q2 2026 Net Profit | RMB 59.8968 million | +320.63% | | Q2 2026 Deducted Net Profit | RMB 59.6171 million | +318.99% | | Debt Ratio | 36.07% | — | | Investment Income | RMB 17,000 | — | | Financial Expenses | RMB 4.4148 million | — | | Gross Margin | 39.64% | — |

Margin Trading Data (Recent 3 Months)

• Net inflow of margin financing: RMB 26.1961 million (margin balance increased)
• Net inflow of securities lending: RMB 48,200 (securities lending balance increased)

Disclaimer: The above content is compiled from publicly available information by Securities Star and is for reference only. It does not constitute investment advice.