Boer Power Releases 2026 Mid-Year Performance Report

Hong Kong, [Date] — Boer Power Holdings Limited (the "Company", together with its subsidiaries, collectively known as the "Group"; Stock Code: 1685.HK), a leading one-stop provider of intelligent power distribution systems and energy efficiency management solutions in China, is pleased to announce its unaudited interim results of the Group for the six months ended 30 June 2026  (the "Interim Period" or "H1 2026").

In the first half of 2026, the global economy navigated a challenging path amid complex and evolving dynamics. The continuous adjustment of the global economic and trade landscape, intertwined with shifting trade policies, geopolitical tensions, and supply chain restructuring, placed significant pressure on the overall business environment. During the period, the Group adhered to a prudent and steady operational strategy, continuously optimizing its domestic and international market footprint while actively expanding its base of premium clients. By flexibly capitalizing on market opportunities, we further enhanced our operational resilience and risk mitigation capabilities. Furthermore, the Group deepened its internal management systems and resource allocation, strengthened cost control, and improved operational management. These efforts led to continuous improvements in overall operational efficiency and capital utilization, laying a solid foundation for the steady development of our business.

During the period, the Group fully leveraged its technological innovation and R&D capabilities, focusing on intelligent power management and smart power supply solutions. Our strategic focus remained on key sectors, including information and communications, computing centers, power system upgrades in industrial and manufacturing sectors, public infrastructure construction, and the "Power Going Global" initiative. Benefiting from the sustained demand for computing centers and ICT infrastructure, alongside successful overseas market expansion, the Group seized industry opportunities to continuously enhance product competitiveness and project delivery capabilities, driving steady overall business growth.

For the period under review, the Group recorded revenue of RMB392.0 million (for the six months ended June 30, 2025: RMB309.8 million), representing a year-on-year increase of 26.5%. The gross profit margin remained stable at a high level of 28.9% (for the six months ended June 30, 2025: 29.1%), with gross profit reaching RMB113.3 million, up 25.6% year-on-year. Operating profit, profit before tax, and net profit for the period were RMB27.3 million (for the six months ended June 30, 2025: RMB18.5 million), RMB18.0 million (for the six months ended June 30, 2025: RMB9.7 million), and RMB11.2 million (for the six months ended June 30, 2025: RMB7.8 million), respectively, achieving year-on-year growth of 47.9%, 84.8%, and 44.4%, respectively.

Facing a complex and volatile external operating environment, the Group maintained a prudent business philosophy and continuously refined its financial management system and resource allocation mechanisms. During the period, the Group focused on strengthening working capital management, optimizing capital allocation and utilization efficiency. We coordinated fund inflows and outflows based on the actual progress of individual projects, while reinforcing dynamic oversight of trade receivables, trade payables, and inventory levels to ensure smooth cash flow turnover. Meanwhile, the Group strictly implemented internal control policies and planned financing arrangements rationally in line with business expansion. Borrowing scale, financial costs, and capital structure were all maintained within a healthy and reasonable range, further consolidating our financial stability. Notably, operating cash flow improved compared to the same period last year, providing a robust guarantee for the sustainable development of our business.

Powered by advanced communication and internet technologies, the Group's proprietary "Huiyun" big data platform enables the real-time collection and monitoring of user energy consumption and equipment operating status. Through deep integration with digital power distribution technology, it achieves precise control and intelligent decision-making support in energy management. Building on this foundation, the Group has developed a one-stop Integrated Energy Management (IEM) solution that encompasses hardware integration systems, customized operating systems and software, as well as online and offline O&M management. This comprehensive suite meets diverse needs across various application scenarios for power supply safety, energy conservation, and intelligent control.

As a service provider with profound industry heritage, the Group leverages over 40 years of professional expertise and continuous technological innovation to continuously refine its intelligent power management products and service systems. We are also actively exploring the application potential of our solutions across diverse scenarios, committed to aligning with the increasingly diverse operational needs of our clients and setting an industry benchmark for efficient and intelligent energy management.

With the rapid development of technologies such as AI large models, cloud computing, and high-performance computing, the demand for computing power is experiencing explosive growth, accelerating the global construction of computing infrastructure. As a crucial platform for computing services, computing centers are evolving towards high density, high efficiency, and low carbon emissions, placing higher demands on the reliability, energy efficiency, and energy management capabilities of O&M equipment and solutions. In response to the industry's needs for power safety, stability, and energy conservation, the Group has continuously refined its intelligent power supply product portfolio for computing centers. Our innovative "One-Stop Computing Center Solution" and "B iPower Integrated Smart Power Supply" have been widely recognized by the market and the industry for their superior performance.

The "B iPower Integrated Smart Power Supply" solution highly integrates medium-voltage, transformation, low-voltage modules, and UPS. With four core advantages—"Ultimate Reliability, Maximum Energy Efficiency, Intelligent Management, and Versatile Adaptability"—it is widely applicable to various data center scenarios, including finance, telecom operators, internet, and cloud services. Thanks to its technological advancement, practical applicability, and industry-wide scalability, this solution was included in the Green Intelligent Computing Center Low-Carbon and Energy-Saving Technology Application Manual compiled by the China Communications Enterprise Association. It was also selected as a typical case of information and communication infrastructure construction and O&M energy-saving technologies at the "2026 China Information and Communications Industry Development High-Level Forum." This further enhances the Group's brand influence and market competitiveness in the intelligent power supply and distribution field for computing centers. Moving forward, the Group will continue to be guided by technological innovation, deeply cultivating the fields of green intelligent computing centers and new infrastructure construction. We will inject continuous momentum into the high-quality development of the digital economy with more efficient, safe, and low-carbon intelligent power solutions.

Against the backdrop of the ongoing global energy transition and the rising penetration of new energy, enhancing the flexibility of power systems, ensuring the safe and stable operation of user-side power, and promoting the efficient utilization of new energy have become prevailing trends. The Group continues to optimize its "One-Stop Intelligent Power Supply Solution," focusing on the full-link user-side power demands across multiple application scenarios, including computing centers. Through the deep integration and factory prefabrication of medium and low voltage, transformers, UPS, and monitoring systems, we achieve full-process intelligent monitoring, significant space savings, and rapid delivery, comprehensively improving the safety, reliability, and overall energy efficiency of power distribution systems. During the period, the Group focused on the equipment renewal and intelligent upgrade demands of traditional manufacturing, promoting the implementation of intelligent power solutions in diverse scenarios to help customers improve power supply reliability and operational efficiency. While continuously advancing the application of our solutions in industrial, telecommunications, and computing center sectors, the Group is also actively expanding into potential key markets such as finance, internet, and healthcare. By optimizing solutions based on specific business needs, we continuously enhance product competitiveness and market coverage.

During the period, the Group continued to provide intelligent power management and comprehensive energy solutions for public infrastructure sectors such as rail transit and wastewater treatment, supporting the safe, efficient, and low-carbon operation of related projects. Meanwhile, focusing on the upgrading and transformation of industrial and manufacturing sectors, the Group continuously refined its products and solutions around customer needs in power distribution system upgrades, energy management optimization, and intelligent O&M, helping customers enhance power supply reliability, operational efficiency, and energy utilization.

In terms of customer expansion, the Group has continuously deepened cooperation with key industry clients and consolidated its premium customer base. During the period, through the "Smart Power Future, New Energy Launch" National Truck Tour, we deepened technical exchanges with industry clients and actively promoted the market application of intelligent power distribution and solutions. Relying on our solid strategic partnership with Schneider Electric, the Group fully leveraged our synergies in energy management, equipment monitoring, and data analysis to promote the digitalization and intelligentization of power systems. Additionally, the Group was awarded the title of National "Green Factory" in 2025. We will continue to serve customers across public grids, computing centers, and infrastructure with more efficient, streamlined, and resource-saving solutions, contributing "Boer Power" to the building of a Beautiful China and the realization of global carbon neutrality goals.

Looking at overseas markets, although the global economy is still affected by uncertainties such as geopolitics and the trade environment, the energy transition and AI development continue to drive the upgrading of power and computing infrastructure, bringing sustained growth momentum to the intelligent power distribution and energy management market. The Group is steadily advancing its internationalization strategy, fully leveraging its technological advantages in intelligent power management, optimizing overseas market layout and resource allocation, and orderly expanding its overseas business to continuously enhance international competitiveness. In the European market, driven by the ongoing renewal of power infrastructure and smart grid construction, the demand for intelligent power distribution systems and comprehensive solutions continues to grow. Leveraging years of operational experience and technical reputation, the Group is continuously enhancing its localized service capabilities to further consolidate its market foundation and customer relationships. The Group is also actively seizing the development opportunities brought by the Belt and Road Initiative and the "Power Going Global" strategy, providing customized intelligent power distribution solutions to countries along the route, and steadily increasing its brand recognition and market share overseas. Furthermore, the accelerated global adoption of AI applications is driving continuous growth in computing center construction, making highly reliable energy management solutions increasingly important. Capitalizing on the rapid global development of computing infrastructure, the Group is actively expanding into overseas computing centers and other application fields, continuously refining related products and solutions to cultivate new growth drivers for its overseas business. Looking ahead, the Group will continue to deepen its European market layout, steadily expand in Belt and Road markets, and seize global computing infrastructure opportunities. We will continuously enhance our technological innovation capabilities and global service standards, promoting the steady development of our overseas business and further consolidating the depth and resilience of our globalization strategy.

Mr. Qian Yixiang, Chairman and Chief Executive Officer of Boer Power, stated:

"Entering the second half of 2026, the Group will remain true to its original aspirations of 'learning, innovation, action, and perseverance.' We will closely align with industry trends and continue to deepen our strategic layout in intelligent power management across key sectors, including smart grid distribution networks, information and communications, computing centers, power system upgrades in industrial and manufacturing sectors, public infrastructure development, and overseas markets.

Innovation will remain our core driving force. We will closely monitor cutting-edge trends and market demands, increase R&D investment, and drive breakthroughs in core technologies and product upgrades to maintain our leading competitive advantage. Concurrently, the Group will further refine its meticulous management mechanisms, strengthen cost and risk control, and enhance capital utilization and overall operational efficiency. We will prudently evaluate the capital recovery cycles of various projects to ensure a steady and orderly turnover of operating funds.

Furthermore, we will maintain a customer-centric approach, supported by technological iteration and service upgrades, to continuously improve service quality and project delivery. This will help us consolidate and deepen long-term strategic partnerships with our clients. By capitalizing on the market opportunities brought by AI and computing infrastructure development, we will optimize our product portfolio and technical capabilities, further solidifying our competitive edge in intelligent power management and laying a solid foundation for long-term business development.