For artificial intelligence companies that are still in the early stages of commercialization, revenue growth is certainly important, but what really determines whether a company can go through the technology cycle is often whether it can continue to transform technological advantages into orders, products, and profits.
On August 26, Innovation & Wisdom (02121) announced its interim results for the year ended June 30, 2026: the first half of the year achieved revenue of 829 million yuan, an increase of 18.6% over the previous year; the comprehensive gross margin reached 35.4%, an increase of about 0.4 percentage points over the same period last year, and achieved 6 consecutive years of improvement;
What is more noteworthy is that the adjusted net profit was about 3.2 million yuan, an increase of 147.8% over the previous year. For the first time since listing, the adjusted net profit for the first time in half a year was corrected. At the same time, the company's “AI+ manufacturing” business revenue share further increased to 81.5%, and businesses such as large industrial models, industrial intelligent devices, industrial software, and embodied intelligent robots are rapidly entering real manufacturing scenarios.
Judging from the quality of operations, this change is not just a “correction” in the profit statement. During the reporting period, the company's accounts receivable turnover fell further to 99 days, which was clearly superior to the industry average. At the same time, the company's net cash flow from operating activities was about 15 million yuan, supporting more than 800 million yuan in revenue with relatively limited cash consumption, and operating efficiency was further improved.
While revenue has maintained relatively rapid growth, there has also been a substantial breakthrough in profitability. What kind of operating signal did Innovation Qizhi's performance in the first half of 2026 actually release?
From Single Point Breakthrough to Systematic Intelligent Change: “One Model, Two Wings” Builds Strong Barriers to Commercialization
In 2026, the rapid evolution of large models and agent (agent) technology will accelerate the acceleration of industrial AI into the second half. The industry development paradigm has evolved dramatically. It is accelerating from single-point “local intelligence” achieved by simply relying on algorithm models in the past to “systematic intelligent transformation” covering the entire enterprise process.
In this wave of transformation, the core value of industrial AI is no longer limited to proof of concept or edge enablement, but must be deeply embedded in the core business processes of manufacturing enterprises to provide intelligent solutions covering the full link of “R&D - production - operation - logistics - sales - service”.
As a new type of digital infrastructure that reshapes traditional industrial business processes, industrial intelligence is becoming an important support for the intelligent transformation and upgrading of China's manufacturing industry. It is also thanks to its deep insight into the evolving trend of this industry that Innovation and Wisdom (02121) lays out ahead of schedule and continues to deepen its “one model, two wings” strategic system.
According to the Zhitong Finance App, the company continues to cultivate in key segments such as iron and steel metallurgy, panel semiconductors, 3C high-tech, automotive equipment, energy and electricity, engineering construction, food and beverage, and new materials, using the AinOGC industrial model as the base, industrial intelligence platform as the driving engine, and industrial software and industrial robots, and has achieved a large-scale development trend from point to point.
The clear positioning of the strategic dimension directly translates into a high level of focus and quality improvement in the financial structure. In the first half of 2026, the innovative “AI+ manufacturing” core business showed strong growth resilience and dominance. The share of business revenue further increased to 81.5%, and the competitive advantage of the main business continued to be consolidated.
At the gross margin level, the comprehensive gross margin of 35.4% achieved a steady upward increase for 6 consecutive years, and gross profit reached 294 million yuan in the first half of the year, an increase of 20% over the previous year, and the growth rate was higher than the revenue growth rate. In other words, the company did not simply rely on price wars or low-end integrated businesses in exchange for revenue scale, but obtained solid pricing power and bargaining space through high-value-added AI software and industrial intelligence products.
According to data statistics from IDC, a third-party authority, Innovation Qizhi currently ranks first in China's industrial model application market share, fifth in China's big model platform privatization market share, and is in the top three in China's computer vision market.
Furthermore, in 2025, the company successfully ranked among the Fortune China Top 50 Technology Awards and won a series of major international awards such as “China's Sustainable Growth Enterprise” by the Financial Times. Its ChatCAD products developed based on large models also received the “Global AI for Good Innovation Impact Case” issued by the United Nations International Telecommunication Union.
This accumulation of product capabilities deeply embedded in the entire production process and industry know-how that is difficult to replicate has built a strong commercial barrier to innovation, ingenuity, and provided hard core support for it to unleash scale effects and cross profit balance points in the first half of 2026.
The “FDE+ platform-based” flywheel accelerates operation, and scene precipitation releases compound interest effects
For enterprise-level artificial intelligence companies, how to break through the dead cycle from “customized delivery” to “standardized products” is the key to determining whether the enterprise can achieve large-scale profits.
Innovation Wizhi was the first to break this industry curse in 2026. The key is its pioneering implementation and application of the “FDE+ platformization” market strategy. In response to the complex intelligent needs of large leading enterprise customers, Innovative Kizhi has created an FDE (Frontier Deployment Engineer) team model.
According to the Zhitong Finance App, the FDE team is not a traditional IT outsourcer or project delivery person. They rely on core digital assets such as the industry body, skill components, and Harness engineering paradigm that have settled on the platform to go deep into the front line of customer production to overcome extremely challenging complex business problems.
In the process of solving problems together with customers, the company continues to deposit components such as ontology templates, skills, workflow, and evaluation strategies, and replicate the platform after project verification to further form standardized products and lightweight industry packages.
In this process, the FDE team not only solved the customer's specific pain points, but also fed back and transformed field experience such as newly accumulated industry knowledge, skill components, and evaluation strategies during the delivery process into reusable assets at the platform level. Through this closed-loop mechanism of “key customer attack - platform asset accumulation - industry suite development - similar customer replication”, the company successfully built a strong flywheel effect, breaking the problem of high marginal costs caused by software customization, thus achieving a leap forward in operating efficiency and improving the degree of product standardization.
This model is already beginning to be reflected in customer structures. More than 50% of the company's revenue in the first half of the year came from repeat purchases from old customers, while the rest came from new customer development. In other words, innovative wisdom does not simply rely on constantly searching for new customers to drive growth, but rather extends from one core scenario to more business scenarios for the same customer through a “1+N” strategy.
Today, with the deep implementation of the “FDE+ platformization” strategy, the accumulation of innovative wisdom in previous years is having a “commercial compound interest effect”.
Xu Hui, executive director and CEO of Innovation Qizhi, pointed out that turning a loss into a profit after adjustment for the first time in the first half of 2026 is an inevitable reward for the company to grasp market demand in the intelligent era while continuously improving platformization capabilities and product standardization. Based on 8 years of intensive work, the company has successfully served more than 1,800 physical enterprise customers, and has accumulated tens of thousands of real industrial scenarios, massive high-quality industrial data, and rich industry best practices.
Today, AI models and smart device technology are changing rapidly, and these unreplicable industry know-how and scenario data have evolved into the broadest moat for innovation and ingenuity.
It is worth noting that the company is also relatively restrained in judging the progress of commercialization of industrial intelligence devices. The management clearly stated that the easiest standard for measuring whether FDE and smart devices are successfully implemented is not a demo effect, but rather whether the smart body can actually enter the customer's production environment and continue to be used. For industrial embodied intelligence, which is still in its early stages, the company focuses more on technology research and development, algorithm reserves, and scenario breakthroughs, and adopts a gradual path of “a little more mature technology and a little replacement”.
Looking ahead to the next stage, as the compound benefit effects of these deep assets are fully unleashed, the company will comprehensively accelerate the implementation of large-scale industrial models and industrial intelligence in a wider range of manufacturing scenarios.
From a long-term perspective, innovative wisdom has not only achieved an overall improvement in financial indicators and turned losses into profits, but has also taken a key step on the “AI+ manufacturing” circuit in Changpo with its solid strategic strength, technical strength and commercial implementation efficiency, and is firmly moving forward towards the goal of becoming the “AI native infrastructure leader in the Chinese manufacturing industry”.