Shining 3D 2026H1: Revenue of RMB 998 million, up 45.04% YoY, with 3D scanner revenue increasing approximately 50% YoY.

Source: Shining 3D 2026 Interim Report

Revenue of RMB 998 million, up 45.04% YoY / 3D scanner revenue of RMB 873 million, up 49.16% YoY / Net profit attributable to shareholders of the parent company up 60.62% YoY

DentalGoodNews｜On August 25, 2026, Shining 3D Technology, Inc. (hereinafter referred to as "Shining 3D") released its 2026 semi-annual report. According to the report, in the first half of 2026, the company achieved operating revenue of RMB 998 million, up 45.04% YoY; net profit attributable to shareholders of the listed company (hereinafter referred to as "net profit attributable to shareholders of the parent company") of RMB 284 million, up 60.62% YoY; net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses of RMB 270 million, up 90.21% YoY, primarily due to expanded sales scale and an increased share of high-margin products.

Source: Shining 3D 2026 Interim Report

From an overall operational quality perspective, during the reporting period, the company's comprehensive gross margin was 76.48%, up 5.60 percentage points from 70.88% in the same period last year; basic earnings per share were RMB 0.70, up 60.62% YoY (RMB 0.44 in the same period last year). As of the end of June 2026, the company's total assets stood at RMB 2.919 billion, up 13.68% from the end of the prior year; net assets attributable to shareholders of the listed company were RMB 2.286 billion, up 14.08% from the end of the prior year, corresponding to a book value per share of RMB 5.66; the parent company's debt-to-asset ratio was 17.04%, compared to 16.36% in the same period last year.

Source: Shining 3D 2026 Interim Report

By product segment, the core product, the 3D scanner, contributed revenue of RMB 873 million with an operating cost of RMB 185 million, up 49.16% and 20.58% YoY, respectively, mainly due to the rapid sales growth of dental 3D scanners; the gross margin for this segment was 78.81%, up 5.02 percentage points YoY. Supporting equipment, consumables, and services generated revenue of RMB 124 million with an operating cost of RMB 49.5745 million, up 21.64% and 6.13% YoY, respectively, with a gross margin of 60.14%, up 5.82 percentage points YoY. In addition, other business revenue, primarily from scrap disposal income, amounted to RMB 132,300, down 40.99% YoY, with corresponding costs down 76.63% YoY.

From a revenue structure perspective, overseas revenue was RMB 797 million with an operating cost of RMB 168 million, up 59.52% and 28.97% YoY, respectively, with its share of total operating revenue rising from 72.61% in the same period last year to 79.85%; domestic revenue was RMB 201 million with an operating cost of RMB 66.751 million, with revenue up 6.66% YoY and costs down 4.89% YoY. The gross margin in overseas markets was 78.93%, up 4.99 percentage points YoY; the gross margin in the domestic market was 66.79%, up 4.03 percentage points YoY. The report attributes the growth in overseas revenue to enhanced product competitiveness, improved market recognition, and overseas market development driven by the coordinated advancement of technological innovation and international expansion.

Over a longer time horizon, from 2023 to the first half of 2026, the company's international business revenue was RMB 616 million, RMB 792 million, RMB 1.159 billion, and RMB 797 million (half-year data), respectively, with a compound annual growth rate of 37.20% from 2023 to 2025. During the reporting period, the company established new sales and technical support subsidiaries in South Korea and Brazil, continuously deepening its global localized operations network.

Source: Shining 3D 2026 Interim Report

In terms of expenses, the company's R&D expenses were RMB 180 million, accounting for 18.07% of operating revenue. From 2023 to the first half of 2026, total R&D investment amounted to RMB 1.083 billion, representing 22.60% of total operating revenue over the same period. In addition, due to intensified global market development efforts and offline marketing activities, selling expenses amounted to RMB 208 million, up 22.77% YoY; administrative expenses were RMB 46.7353 million, up 32.88% YoY, primarily due to increased employee compensation and listing intermediary service fees.

Source: Shining 3D 2026 Interim Report

In terms of cash flow, during the reporting period, net cash flow from operating activities was RMB 176 million, up 15.21% YoY; net cash flow from investing activities was -RMB 68.7438 million (compared to -RMB 275 million in the same period last year), with net outflows narrowing by 75.00% YoY, mainly due to smaller net cash outflows from transactional cash such as structured deposits and bank wealth management products during the period; net cash flow from financing activities was -RMB 13.5293 million (compared to -RMB 54.456 million in the same period last year), with net outflows narrowing by 75.16% YoY, mainly because cash dividends were paid in the same period last year while no cash dividends were distributed during the current period.