SENASIC (06675.HK) reported interim results for the six months ended 30 June 2026. Revenue climbed 36.5% year-on-year to RMB214.06 million, supported by strong demand for its edge sensing and computing chips. Gross profit jumped 63.1% to RMB69.41 million and gross margin improved 5.3 ppts to 32.4%, helped by scale efficiencies and product-mix optimisation.
A non-cash re-measurement of pre-IPO preferred shares—reclassified to equity upon SENASIC’s 17 June listing—triggered an accounting charge of RMB1.35 billion. This pushed the statutory loss to RMB1.39 billion versus a RMB143.26 million loss a year earlier. Excluding this one-off item, listing expenses and share-based payments, adjusted loss narrowed 61.6% to RMB6.03 million.
Segment performance • BMS SoCs were the main growth engine, with revenue surging 114.5% to RMB52.90 million, driven by increasing adoption of wireless battery-monitoring solutions in energy-storage and EV applications. • Intelligent Tire Sensing SoCs contributed RMB111.00 million, up 21.7%, maintaining the segment’s position as the largest revenue source. • Universal Sensor Interface (USI) SoCs generated RMB48.70 million, a 23.4% rise, buoyed by new high-end automotive pressure applications.
Operating expenses R&D spending increased 20.9% to RMB43.23 million but fell to 20.2% of revenue (1H 2025: 22.8%). Selling and marketing costs declined 13.0% to RMB7.92 million, while administrative expenses rose to RMB61.74 million, reflecting higher staff costs and IPO-related fees.
Balance sheet and liquidity Following the Hong Kong listing, cash and cash equivalents expanded to RMB1.13 billion (end-2025: RMB201.35 million). Total borrowings stood at RMB266.69 million, all short-term and RMB-denominated. Current assets reached RMB1.70 billion against current liabilities of RMB361.19 million, giving a current ratio of 4.7 times. The gearing ratio improved to 26.9% from negative 150.1% at end-2025 after conversion of preferred shares to equity.
Capital allocation The IPO raised net proceeds of HK$912.52 million; none had been deployed by 30 June. Management plans to allocate 40% to scaling production and commercialising new products, 30% to R&D, 10% each to global sales expansion, strategic investments and working capital by end-2030.
Operational highlights • The company’s Penang manufacturing base commenced operations, enhancing global supply capability. • Patent portfolio rose to 97 invention patents and 69 IC layout designs. • Quality metrics improved, with a reported defect rate of 3 PPM versus the industry average of 10 PPM.
Outlook Management will prioritise commercial roll-out of wireless BMS chips in energy-storage and EV markets, advance next-generation Intelligent Tire Sensing solutions, and strengthen supply-chain resilience. The board declared no interim dividend.