Zhitong Finance App learned that on August 27, Ling Xiong Technology (02436), a leading AI inference and computing power leasing company, announced the 2026 interim results announcement. According to the announcement, Ling Xiong Technology's revenue for the first half of the year reached 1,083 million yuan (RMB, same below), of which the computing power infrastructure full life cycle management solution business revenue was about 615 million yuan, accounting for 57% of total revenue; gross profit increased by about 77.4% year on year to 180 million yuan, net profit surged 319.8% year on year to 20.6 million yuan, adjusted profit increased by about 149% year on year to 46.43 million yuan, adjusted EBITDA (profit before tax, interest, depreciation and amortization) increased by about 11.9% to 220 million yuan. Overall, in the first half of 2026, Ling Xiong Technology continued to develop upward and new, and handed over an outstanding profitable performance list.
In the first half of 2026, in the face of continuing complex changes in the domestic and international macroeconomic environment, Ling Xiong Technology always maintained strategic strength, operational planning, keenly and accurately grasped the new opportunities emerging in the economy and market operation, continued to strategically optimize resource allocation, and focus on matching key resources to the computing power infrastructure full life cycle management solution business field with strong market demand, high profit margins, and more growth potential, thus achieving continuous optimization of the revenue structure and profit structure to promote the company as a whole to maintain high-quality growth. Among them, the equipment recycling business maintained steady development and achieved revenue of 755 million yuan, equipment subscription business revenue increased 11.9% year on year to 215 million yuan, and IT technology subscription service revenue increased sharply by 47.7% year on year to 113 million yuan.
Many organizations believe that on the basis of achieving impressive results in 2025 and entering the large-scale profit stage in the true sense of the word, Ling Xiong Technology has continued to work hard according to the established strategic planning route since 2026, paying more attention to high-quality growth, continuously optimizing resource allocation and business structure, continuously enhancing endogenous motivation and improving overall profitability, leading to another record high for the main profit indicators in the first half of 2026. Among them, Ling Xiong Technology's net profit for the first half of 2026 far exceeded the net profit for the full year of 2025. It can be said that the fulfillment of its high quality growth expectations has completely entered normal. As Ling Xiong Technology continues to optimize its operating efficiency, customer service quality and revenue structure, I believe its performance throughout this year will brighten the market, and there is huge room for imagination in the future.
The computing power business became the main driving force for growth, and all core profit indicators rose sharply across the board
Since the “14th Five-Year Plan”, the size of China's computing power market has grown exponentially under the combined influence of complex factors such as the country attaches great importance to the layout of computing power, continued to make major breakthroughs in AI model technology, and the “artificial intelligence +” initiative to empower thousands of industries. According to IDC data, the scale of China's intelligent computing power doubled from 155.2 EFLOPS (10 billion floating point operations per second) in 2021 to 1037.3 EFLOPS in 2025, and will reach 2781.9 EFLOPS in 2028. However, despite the exponential increase in demand for computing power, China's major enterprises have their own pain points: on the one hand, large domestic AI companies, leading Internet vendors, telecom operators and other large enterprises rely on strong comprehensive strength to build large-scale data centers and computing power clusters, but due to the rapid iteration of AI computing power infrastructure and high depreciation rates, it will cause obvious structural idle problems and cost waste of their own computing power equipment to a certain extent. On the other hand, the number of small and medium-sized enterprises in the digital economy and artificial intelligence in China is huge, but due to insufficient comprehensive strength, the vast majority of small and medium-sized enterprises are unable to build their own data centers, and it is also difficult to obtain computing power resources at low cost, which seriously limits their high-quality development.
In order to effectively solve the pain points of enterprise customers, Ling Xiong Technology has focused on and successfully built a comprehensive intelligent computing ecosystem in recent years, adapting to enterprise conditions and providing full-life cycle management solutions for planned computing power infrastructure. In response to the pain points of large enterprises, through the DaaS service model, Ling Xiong Technology provides them with overall service solutions including computing power equipment leasing, local deployment of computing power clusters, full-stack technology operation and maintenance, and computing power equipment recycling, etc., to greatly reduce the operating costs of computing power business for large enterprise customers and improve the quality and efficiency of their computing power business market response. In response to the pain points of small and medium-sized enterprises, Ling Xiong Technology continues to carry out in-depth targeted breaking actions to break the “computing power gap” of small and medium-sized enterprises, using the “recycling+remanufacturing+leasing” closed-loop operation service model, so that the vast majority of small and medium-sized enterprises can rent and use computing power equipment such as AI servers, storage servers, and token (token) services at a real low cost, so that small and medium-sized enterprises in China can afford and use computing power resources well, and help them achieve high-quality development. Benefiting from this, Lingxiong Technology's computing power infrastructure full life cycle management solution business is very popular in the market. It is worth mentioning that in the first half of this year, Ling Xiong Technology was invited to participate in important international exhibitions such as the 6th China International Consumer Goods Fair, the 20th Shenzhen International Finance Expo, the 2nd Asia Data Center Summit and Industry Exhibition, and the 2026 World Artificial Intelligence Conference. Its concentrated exhibition solutions for the full lifecycle management of computing power infrastructure were very popular and became one of the highlights of major exhibitions.
Benefiting from continued strong market demand, Lingxiong Technology's computing power infrastructure full life cycle management solution business has achieved rapid growth and has become its new growth pole. According to the announcement, in the first half of 2026, Lingxiong Technology's business revenue was about 615 million yuan, accounting for about 57% of its total revenue. Furthermore, due to the high business profit of the computing power infrastructure full life cycle management solution, the profit structure of Ling Xiong Technology has been greatly optimized. According to the announcement, in the first half of 2026, Ling Xiong Technology's gross profit surged 77.4% year on year, and gross margin increased sharply to 16.7%; net profit increased 319.8% year on year, adjusted profit increased by about 149% year on year, and adjusted EBITDA increased by about 11.9% year on year.
It should be pointed out in particular that due to the overall positive impact of the computing power business, Ling Xiong Technology achieved a sharp rise in gross profit across all of its main businesses in the first half of this year. According to the announcement, the gross profit of the equipment recycling business increased 996% year over year, the gross profit of the equipment subscription business increased 26.2% year over year, and the gross profit of IT technology subscription services increased 47.1% year over year.
The relevant person in charge of the Ling Xiong Research Institute said that the DaaS service model of Ling Xiong Technology has extremely high market acumen and strong market responsiveness. It can quickly enrich the content of DaaS services according to new changes in the market and enterprise customer needs, and comprehensively meet the needs of all aspects. Since the “14th Five-Year Plan”, Ling Xiong Technology has accurately grasped the new opportunities brought by the booming development of China's computing power industry. From a strategic perspective, it has deeply integrated the DaaS service model with the computing power industry, adapted to industry conditions, met the rapidly growing computing power needs of major enterprises, and successfully built a new growth pole for its own business. “As a result, Ling Xiong Technology also once again reminded the market's attention with outstanding performance results: its full life cycle management business model of equipment has excellent ability to go through complex cycles and continuously create new value for customers and shareholders.”
The “AI+” campaign greatly improves the quality and efficiency of operation and customer service and leads the high-quality development of the industry with standards
Since 2026, in a situation where factors of economic instability have continued to increase, Ling Xiong Technology has focused on enhancing endogenous development momentum according to the times and circumstances, focusing on promoting high-quality development of the industry, and comprehensively enhancing the certainty of achieving the 2026 strategic goals. Its core innovation is based on two points: the first is the “AI+” initiative to improve resource allocation efficiency in all aspects, and continue to maximize operational efficiency and customer service quality. The second is to bravely assume the responsibility of leading the way, continue to use standards to drive the high-quality development of the industry, and achieve the same level of improvement as the enterprise and industry.
In terms of AI deeply empowering enterprise development, in the past two years, Ling Xiong Technology has fully implemented the “AI+” campaign, using massive operating data sets accumulated over 20 years and huge high-quality industry data sets as key production factors, advanced AI technology, large model deployment and computing power as important production tools to improve resource allocation efficiency in all aspects, further greatly improve its overall operation and customer service quality, and further promote the continuous improvement of its business.
In particular, it is worth mentioning that Ling Xiong Technology has successfully independently developed and built a management intelligence platform for all its employees to use. Through this AI intelligent platform, every employee of Ling Xiong Technology can build a “digital intelligent employee” that specializes in serving their daily work according to their own job requirements and actual work application scenarios, greatly improving employee efficiency and output, thus empowering all aspects of the company's operations to improve quality and efficiency. For example, on the business development side, Ling Xiong Technology's AI platform can recommend customer visit priorities for business personnel based on the geographical location of business personnel through comprehensive research and judgment (such as corporate customer recruitment status, etc.); it can regularly push customer development reports to business managers and business personnel to help accurately detect problems in the customer development process. As a result, customer acquisition quality and efficiency have been greatly improved. On the product side, Ling Xiong Technology's AI platform can help it continuously optimize product pricing based on real-time and comprehensive market demand analysis to ensure that inventory levels match customer real-time needs. On the customer service side, an automated AI customer service system that operates around the clock can provide customers with quick answers to questions at any time, so that customers can get the support they need more quickly. Based on the AI customer service system, a large amount of data can be generated to analyze customer needs, trends and feedback to help it continuously follow up on customer needs and improve service results.
“Our management intelligence platform will provide real-time feedback on the company's overall business situation based on real-time BI data from all aspects of the company's operation, providing comprehensive coverage, accurate details, and accurate problems, providing constructive suggestions for the company's strategic optimization, decision-making and deployment, daily operations, etc., so that the company's operational quality and customer service quality and efficiency can continue to achieve revolutionary improvements, thus promoting the company's continuous high-quality growth.” The relevant person in charge of Ling Xiong Technology said that our pioneering demonstration experience in the field of AI deeply empowering companies to improve the efficiency of resource allocation in all aspects has also provided a useful reference for other peers in the industry.
In terms of promoting high-quality development of the industry, in the first half of this year, Ling Xiong Technology, as a leading enterprise in the DaaS industry, continued to take many measures to solidly push the high-quality development of the industry to a new level. On the one hand, Ling Xiong Technology actively collaborated with industry organizations such as the “China Association of Small and Medium Enterprises DaaS Service Professional Committee”, the first national platform for the DaaS industry, to hold influential national events such as the first “New Cycle, New Value” forum, to jointly explore the green transformation and value regeneration of the AI computing power industry, while promoting DaaS services in a comprehensive manner and continuously raising awareness of the DaaS industry. On the other hand, Ling Xiong Technology continues to strengthen industry infrastructure construction, focusing on using standards to drive the high-quality development of the DaaS industry. The national standard “Waste Electrical and Electronic Product Handling Requirements Part 3: Servers” and the industry standard “Technical Specification for Server Remaneling” have been released successively. The release of these standards not only establishes and strengthens Lingxiong Technology's leading position in the computing power infrastructure full life cycle management solution market, but will also play a critical role in further promoting the high-quality development of the DaaS industry.
Some senior observers believe that Ling Xiong Technology continues to take on the responsibility of leading the industry, and that a series of important measures taken will effectively push China's DaaS industry to continue to maintain a high-quality growth trend. In this process, Ling Xiong Technology continues to advance the “AI+” campaign in depth, continuously improving the quality and efficiency of its own operations and customer service. In the next few years, it is expected that its main operating indicators will rise at the same rate as the high-quality growth of the industry, bringing rich room for thought to the market.
Multiple benefits resonate with AI reasoning, computing power, and the development prospects of leading leasing companies are worth looking forward to
Since the first half of this year, China's economy has continued to develop in a new direction, positive direction. In this process, more positive factors and favorable conditions have emerged to promote the continuous high-quality growth of the DaaS industry: First, the number of enterprises in China continues to grow steadily, and they maintain a stronger demand trend for DaaS services that reduce costs and increase efficiency. This has created a solid basic market for the DaaS market penetration rate to continue to increase steadily. Second, the country is deeply promoting “artificial intelligence +” to empower thousands of industries, causing China's computing power demand to continue to grow exponentially, thereby releasing a large amount of demand for computing power equipment leasing and recycling services. This has injected strong impetus into the DaaS market to continue to flourish. Third, AI continues to evolve at an accelerated pace, the popularity of next-generation smart terminals, smart devices and other applications in China accelerates, and new forms of intelligent economy continue to emerge. This provides new scenarios and opportunities for the continuous expansion of the content of DaaS services in China. Fourth, DaaS service providers are actively independently developing or fully introducing advanced AI technology to greatly improve the quality and efficiency of their own operations and customer service, which further enhances the endogenous motivation for the high-quality development of the DaaS industry.
The relevant person in charge of the Ling Xiong Research Institute said that benefiting from multiple favorable resonances in macroeconomic operations, the inflection point in China's DaaS market penetration rate will accelerate: in the next 5 years, it will rise from about 5% today to 10%. In this context, China's DaaS market will continue to maintain a high compound annual growth rate in the next few years. “As the leading enterprise in the DaaS industry, Ling Xiong Technology's main business indicators will also maintain high quality growth at the same frequency, and its future development prospects are broad and worth looking forward to.”
Looking forward to the future, China's intelligent economic development will enter an important stage of accelerated breakthroughs and acceleration. The scale of key industries such as large models, smart devices, physical intelligence, and artificial intelligence terminals will continue to expand, and the results of “artificial intelligence +” in empowering various fields will be more remarkable. Overall, it will maintain a good development trend and become a strong driving force for the high-quality development of China's economy. As a result, demand for computing power that is accurately adapted to the needs of the intelligent economy will also continue to grow exponentially. In this context, Ling Xiong Technology will seize this historic opportunity in all aspects. On the one hand, it will continue to pay more attention to the computing power business and allocate resources. On the other hand, it will always insist on serving customers as the center, continuously improve the quality and efficiency of operation and customer service, continuously optimize the business and revenue structure, enhance long-term profitability, continue to create new value for customers and shareholders, and make more and greater contributions to the high-quality development of the national economy.