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Finance · AI
HONG KONG, August 28, 2026 - Legend Holdings Corporation (“Legend Holdings” or the “Company”; Stock Code: 3396.HK) announced the unaudited condensed consolidated interim results for the six months ended June 30, 2026 (the “Reporting Period”). During the Reporting Period, the Company recorded revenue of RMB362.935 billion, representing a 29% year-on-year increase, primarily driven by the significant revenue growth of its subsidiaries Lenovo and Levima Advanced Materials; net profit attributable to equity holders of the Company was RMB2.230 billion, up 219% year-on-year, driven by the recovery in portfolio value of the industrial incubations and investments segment. Excluding the impact of a one-off item, net profit attributable to equity holders of Legend Holdings was RMB5.812 billion, a year-on-year increase of 834%.
In the first half of 2026, Legend Holdings remained committed to technological innovation as the key driver for high-quality development and continued to enhance its distinctive technological innovation system. The Company actively drove the coordinated advancement of “anchoring diversified-industries operations in technology-focused core businesses, extending ecosystem coverage through technology innovation funds, and driving the very early-stage industrialization of forward-looking technologies.” This expedited the transformation from scientific and technological achievements into real productive forces, and drove a steady improvement in the Company's core competitiveness, with significant performance growth, laying a solid foundation for the Company’s sustainable development.
RMB 10 Billion in R&D Investment, Together with a Solidified Technology Foundation
During the Reporting Period, Legend Holdings’ total R&D investment exceeded RMB10 billion, a historical record high for its midyear report. Its portfolio companies continued to deliver steady growth with solid fundamentals. Lenovo capitalized on the surge in hybrid AI, with all three major business segments delivering double-digit revenue growth and reaching record highs for the same period. AI has become Lenovo’s core growth engine, with AI-related revenue increasing by 64% for the same period and accounted for 36% of Lenovo’s total revenue. Levima Advanced Materials posted significant performance growth and made breakthroughs in a number of major projects. Among them, the m-Xylylene Diisocyanate (XDI) project was listed under the National Key R&D Program. Built on Levima’s technical expertise and R&D experience, the PEEK project has entered the construction phase. Both projects are expected to be completed and put into operation in 2027, filling domestic technology gaps.
Technology Ecosystem Bearing Fruit, and 12 Portfolio Companies Successfully Listed
Leveraging years of dedicated efforts in technology innovation, Legend Holdings has cultivated a robust ecosystem spanning emerging and future industries. This ecosystem is now delivering tangible returns, not only driving significant performance growth for the Company, but also accumulating momentum for long-term development. During the Reporting Period, the industrial incubations and investments segment’s depth of technology asset pipeline and ability to realize value from these assets both improved. In the first half of 2026, the Legend Holdings Family Group supported the listing of 12 portfolio companies. These listed companies spanned sectors including artificial intelligence, semiconductors, advanced manufacturing, and healthcare. More than 30 additional portfolio companies are currently in the pre-listing pipeline. The Company invested in over 80 technology projects in the first half of the year across frontier fields such as artificial intelligence, quantum computing, optical interconnects, embodied artificial intelligence, chips and semiconductors, biopharmaceuticals, and commercial aerospace. To date, Legend Holdings has invested in over 300 AI-related companies. The Company has also established a systematic presence in other frontier fields, having invested in over 110 companies in pharmaceuticals and healthcare, over 60 companies in sustainable industries and future energy, and more than 50 companies in embodied artificial intelligence.
Fostering Industry-Academia-Research Collaborative Innovation and Exploring New Pathways for Commercializing Original Technologies
Responding to the call to “accelerate the translation from technological advances into productive forces”, Legend Holdings leverages its Forward-Looking Technology Research Institute to actively promote industry-academia-research collaborative innovation and explore new pathways for the commercialization of pioneering technologies. In the first half of the year, Legend Holdings established the Advanced Photonic Integration Joint Laboratory with a National Key Laboratory at Peking University. Together with the research team, the Company published co-authored papers and filed joint patents, while making preparations to establish a dedicated operating entity. In addition, led by the Chinese Information Processing Society of China (CIPS), and jointly initiated by Legend Holdings and other organizations, the Industry University Research Working Committee of the Chinese Information Processing Society of China was established, focusing on frontier areas of artificial intelligence. The Committee translates real-world industry needs into concrete workstreams. The Company has built a “Covalent Innovation” model that brings real-world industry needs into the earliest stages of R&D, enabling businesses and researchers to jointly set priorities and develop solutions. It aims to create a replicable pathway for translating more creative innovation into new quality productive forces.
ESG Practices Gaining Authoritative Recognition, Corporate Responsibility Underpinning the Foundation for Sustainability
Legend Holdings prioritizes ecological conservation and green development. Lenovo has repeatedly received authoritative recognition both domestically and internationally in the ESG field. It has retained the highest global 3A rating in the MSCI ESG Ratings and received the EcoVadis Platinum Medal, its highest distinction, for two consecutive years. It was also included in the Fortune China ESG Impact List for five consecutive years. Its green operations continued to deliver strong results: over 90% of the electricity used in Lenovo’s global operations came from renewable energy sources. More than 360 million kilograms of end-of-life products have been recovered and reused. In photovoltaic materials, Levima Advanced Materials operates two major product lines for photovoltaic adhesive film materials, EVA and POE, with an annual production capacity exceeding 350,000 tons. In new energy battery materials, the company has built a comprehensive portfolio. In green investment, Legend Holdings has invested in more than 60 companies across new energy, energy decarbonization and so on. The Legend Star CEO Training Program has been running for over 18 years, nurturing up to 1,429 startup founders with 77 listed companies, 217 national-level specialized and innovative “Little Giant” enterprises, 930 High-and New-Technology Enterprises (HNTE), and more than 460,000 jobs created.
Looking ahead, Legend Holdings will continue to closely align with national strategic needs, adhere to the main thread of technological innovation driving high-quality development, steadily improve its distinctive technological innovation system, deepen its focus on technology as its core business, and accelerate the promotion of the transformation of scientific achievements into real productive forces, making unremitting contributions to Chinese modernization and self-reliance and strength in science and technology.
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XIAMEN, August 27, 2026 - August 26, 2026, Reconova Technologies Co., Ltd. ("Reconova" or the "Company", Stock code: 7656.HK) today released its first interim results since its listing. During the reporting period, the Company achieved revenue of approximately RMB102 million, representing a year-on-year increase of 58.7%. The revenue growth was primarily driven by the synergistic momentum across its three business segments, underpinned by a solid core business foundation. R&D expenses accounted for approximately 48.8% of revenue, as strategic investments continued to build robust technological moats for the Company.
Operating Performance Steadily Improves, Operational Efficiency Continuously Optimised
From a profitability perspective, the Company recorded a net loss of approximately RMB64 million during the reporting period, narrowing by 6.7% year-on-year. This improvement was achieved despite a continued increase in R&D investment, which rose 51.2% year-on-year. As the Company is in the strategic investment phase for embodied intelligence, R&D expenses account for nearly half of revenue. The net loss was primarily attributable to increased R&D investment in embodied intelligence and one-off listing-related expenses incurred during the period.
In terms of operational efficiency, selling and distribution expenses declined by approximately 5.3% year-on-year alongside revenue expansion, reflecting continuous efficiency gains. While the net loss narrowed year-on-year, trade receivables decreased to approximately RMB510 million, down 13.0% from the end of the previous year, indicating a notable improvement in collection efficiency.
Looking at forward revenue visibility, contract liabilities stood at approximately RMB12 million as at the end of the reporting period, up 420% from the beginning of the year. Contract liabilities represent advance payments from customers for goods or services not yet delivered; these amounts will be progressively recognised as revenue in subsequent accounting periods, providing greater visibility into future revenue.. For technology companies in a strategic investment phase, trends in contract liabilities often better reflect the true trajectory of the business than current-period net profit.
Three Business Segments Achieve Synergistic Growth, Customer Ecosystem Continuously Strengthened
During the reporting period, all three business segments achieved year-on-year growth with ongoing structural optimisation, demonstrating the core business's sustainable cash-generating capability.
The Intelligent Civil Aviation segment generated revenue of approximately RMB3 million, up 319.1% year-on-year, benefiting from enhanced customer stability. The Company maintained its No. 1 market position in China's enterprise vision intelligence product market for civil aviation, with its products deployed in over 60% of China's airports with annual passenger throughput exceeding 10 million. Benchmark projects continue to be replicated and iterated. It is worth noting that the civil aviation sector exhibits pronounced seasonal characteristics: due to the annual budget execution cycle of airports and project acceptance timelines, revenue recognition for this segment is typically concentrated in the second half of the year, particularly in the fourth quarter.
The Smart Commercial segment accelerated the acquisition and servicing of high-value customers, driving growth in average customer value and transaction volume. Revenue reached approximately RMB34 million, up 95.5% year-on-year. The SINHON Business System for commercial spaces is being deployed at an accelerating pace, achieving rapid growth and a more diversified revenue base.
The Smart Driving Safety segment generated revenue of approximately RMB66 million, up 41.2% year-on-year. A significant increase in new customer order volumes drove sales expansion.
Full-Stack Technology System Evolves, Embodied Intelligence Achieves Multiple Commercialisation Milestones
With 14 years of expertise in vision intelligence, Reconova has built an integrated enterprise-grade embodied intelligence core technology framework spanning "perception–cognition–physical execution," and is steadily advancing the large-scale deployment of commercial robot products for productivity-focused scenarios.
In terms of concrete progress, the "AntOne" airport baggage handling robot, launched in September 2025, has completed pilot deployment at a major Chinese airport with more than 10 million annual passengers, supporting 24/7 uninterrupted operation. In April 2026, the Company iteratively launched its new VTFLA embodied intelligence technology architecture. Building on the conventional VLA (Vision-Language-Action) framework, VTFLA integrates multi-modal input perception including vision, tactile and force feedback. Its core design philosophy is to process over 80% of intelligence at the edge, employing a dual-system fast-slow coordination architecture that decouples and coordinates task planning with real-time control. The Company plans to further advance R&D in edge-side lightweight embodied intelligence technology, continuously enhancing multi-modal perception and execution capabilities.
At the recently concluded 2026 World Robot Conference (WRC), the Company comprehensively presented an embodied intelligence solution for airport productivity scenarios. Through human-machine systems and multi-robot collaborative operations, the solution reshapes traditional manual baggage handling operations, creating a safe, reliable, and flexibly adaptable full-chain intelligent baggage handling system. In addition, the Company has initiated R&D on a wheeled dual-arm robot, expected to be launched in 2027 and commercialised in 2028. Its application scenarios will expand from fixed-position baggage handling to mobile loading and unloading operations under aircraft, and gradually extend to warehousing, industrial automation, and other scenarios. During the conference, the Company also signed a strategic cooperation agreement with SIIC Tech Capital to jointly build the Hong Kong Embodied Intelligence Super Accelerator, advancing industrial commercialisation and international expansion.
Globalisation Strategy Fully Launched, Overseas Markets Achieve Multi-Point Breakthroughs
For international expansion, the Company adopts a strategy of "expanding from nearby markets to more distant regions," with an initial focus on Southeast Asia and the Middle East. Currently, the Company has launched Proof of Concept (PoC) pilot projects at Hamad International Airport in Doha, Qatar, and Tashkent International Airport in Uzbekistan. The rollout follows the principle of "prioritising flagship airports first, then radiating to long-tail customers": the first phase focuses on hub airports in the Middle East and Southeast Asia to establish benchmark cases, before progressively expanding to long-tail customers and subsequently entering European and American markets. The Company is replicating its vision AI and embodied intelligence experience accumulated at domestic airports to global markets that are undergoing large-scale smart airport construction.
In terms of partnership models, the Company emphasises local ecosystem collaboration and the export of technology standards, combined with product localisation, adopting an asset-light, deep-collaboration approach. Approximately 10.4% of the IPO net proceeds have been earmarked for expanding overseas sales channels, providing financial support for the globalisation strategy.
Strategy Focused on Productivity Scenarios, Long-Term Market Potential Gradually Unlocks
The Company adheres to a highly focused and disciplined strategic principle, concentrating on "productivity tools" in handling, depalletizing/palletizing, and specialty scenarios, rather than pursuing broad concepts such as consumer-grade robots or general-purpose humanoid robots. In the short term, the three business segments — Intelligent Civil Aviation, Smart Commercial, and Smart Driving Safety — will continue to generate stable cash flow. Over the medium to long term, leveraging a universal vision intelligence foundation reusable across scenarios, the Company will continuously strengthen its full-stack embodied intelligence core technology framework, iterate multiple categories of commercial robots, and complete a strategic upgrade from vision intelligence solutions to an integrated "perception–cognition–physical execution" enterprise-grade embodied intelligence framework.
Embodied intelligence has been included as a key future industry to be cultivated under China's 15th Five-Year Plan. According to Frost & Sullivan forecasts, China's enterprise vision intelligence market will exceed RMB162.7 billion by 2030. As B2B customers' demand for cost reduction and efficiency improvement continues to rise and the technology maturity curve crosses its inflection point, commercial robots are expected to enter a period of accelerated demand growth in productivity scenarios such as airport baggage handling, warehousing logistics, and industrial automation over the next three to five years.
Leveraging its 14-year vision intelligence foundation and multi-scenario engineering delivery experience, Reconova is accelerating the deployment of embodied intelligence in real industrial scenarios, completing its transition from vision intelligence to enterprise-grade embodied intelligence, with long-term market potential gradually unlocking.
About Reconova Technologies Co., Ltd.
Reconova Technologies Co., Ltd. (Stock code: 7656.HK) is a leading enterprise vision intelligence company in China, listed on the Main Board of The Stock Exchange of Hong Kong Limited on 8 July 2026. The Company provides a series of visual perception, visual cognition, and visual reasoning intelligence products applied across civil aviation, commercial spaces, and driving safety scenarios. Ranked first in China's enterprise vision intelligence product market for civil aviation by 2025 revenue, Reconova is advancing its strategic evolution from vision intelligence to enterprise-grade embodied intelligence.
Aug 27 · 11:18·ACN Newswire