Beijing Saimo Technology Co., Ltd. (“SAIMO”) reported a sharp swing to red for the six months ended 30 June 2026, posting a loss attributable to shareholders of RMB48.05 million versus a RMB1.32 million profit a year earlier.
Revenue declined 19.0% year-on-year to RMB73.72 million, weighed down by a 99.2% plunge in Intelligent Connected Vehicle (ICV) data-platform sales to RMB0.15 million and a 55.9% fall in ICV testing and related services to RMB4.11 million. These setbacks more than offset a 7.3% rise in ICV simulation-testing software and platform sales to RMB52.66 million and a 26.8% increase in advisory and other service income to RMB16.80 million.
Cost of sales rose 27.4% to RMB42.03 million, driven by higher hardware procurement and customisation needs, compressing gross margin to 43.0% from 63.7% a year earlier. Other income nearly halved to RMB7.85 million due to lower government grants, while R&D expenses climbed 15.2% to RMB62.73 million following heavier investment in new simulation tools and physical-AI initiatives.
Operating loss widened to RMB43.20 million (1H25: RMB0.33 million). Net finance costs swung to RMB5.47 million from income of RMB1.69 million, mainly on foreign-exchange losses. Basic and diluted loss per share came in at RMB0.37 (1H25: earnings of RMB0.01).
Cash and cash equivalents increased to RMB244.10 million, and the group remained debt-free. Net cash from operations fell 73.7% to RMB14.22 million, while financial assets at fair value through profit or loss dropped to RMB145.04 million after redemptions. Trade-receivable days lengthened to 584 days.
SAIMO earmarked RMB249.20 million of its HK$356.2 million IPO proceeds for future use, primarily for R&D, product upgrades, new tool development and market expansion. No interim dividend was declared.
The company plans to deepen investment in its Sim Pro, Safety Pro and other simulation suites, broaden applications of physical-AI technologies, and accelerate overseas expansion, while maintaining a focus on cost discipline amid heightened industry competition.