High Templar Tech Reports First Half 2026 Financial Results
News related to:High Templar Tech Limited · 3 min read
XIAMEN, China, Oct. 14, 2026 /CourierPR/ -- High Templar Tech Limited, a company exploring innovative business opportunities globally, reported its unaudited financial results for the six months ended June 30, 2026. The company's total revenues for the period stood at RMB8.0 million (US$1.2 million), a significant decrease from RMB29.3 million in the same period of the previous year. This decline is attributed to the winding down of the company's last-mile delivery business.
Net income attributable to the company's shareholders was RMB416.9 million (US$61.4 million) for the first half of 2026, a slight decrease from RMB461.9 million in the same period of the previous year. The net income per diluted ADS was RMB2.64 (US$0.39).
The company continued to execute its business transition while maintaining a healthy balance sheet by pursuing efficient cash management. Total operating costs and expenses decreased by 10.0% to RMB188.1 million (US$27.7 million) from RMB209.0 million in the first half of 2025. Specifically, the cost of revenues decreased by 77.7% to RMB6.5 million (US$1.0 million) from RMB29.2 million, primarily due to the decrease in service cost as the last-mile delivery business was wound down.
General and administrative expenses increased by 61.0% to RMB183.9 million (US$27.1 million) from RMB114.2 million, mainly due to the increase in depreciation following the completion of the construction of the company's headquarters, loan arrangement fees related to borrowings, and employee benefits. Research and development expenses decreased by 75.0% to RMB6.1 million (US$0.9 million) from RMB24.4 million, as a result of the decrease in staff headcount, which led to a corresponding decrease in personnel cost.
The company's loss from operations was RMB180.0 million (US$26.5 million), compared to RMB179.3 million for the first half of 2025. Interest and investment income, net was RMB1,283.6 million (US$189.2 million), a significant increase from RMB605.9 million in the same period of the previous year, mainly attributable to the increase in income from investments.
Cash flow for the period showed that as of June 30, 2026, the company had cash and cash equivalents of RMB3,811.5 million (US$561.7 million) and restricted cash, current and non-current, of RMB2,322.5 million (US$342.3 million). Restricted cash mainly represents security deposits held in designated bank accounts for the guarantee of short-term and long-term borrowings and is not available to fund the general liquidity needs of the company.
For the first half of 2026, net cash provided by operating activities was RMB1,142.6 million (US$168.4 million), mainly attributable to proceeds from interest and investment income. Net cash used in investing activities was RMB1,752.3 million (US$258.3 million), mainly due to payments of deposits pledged as collateral for derivative instruments. Net cash used in financing activities was RMB225.2 million (US$33.2 million), mainly due to the repurchase of ADSs and partially offset by the proceeds from long-term borrowings.
The company's Chairman and CEO, Mr. Luo Min, recently received a tax notice from the Xiamen Municipal Tax Bureau concerning historical equity restructurings of two PRC consolidated entities, Xiamen Qudian Technology Co., Ltd., and Xiamen Lexiang Time Technology Co., Ltd. Under applicable PRC tax laws, these restructurings are taxable events for Mr. Luo and subject to individual income tax as "income from transfer of property." Because Mr. Luo held all of his equity interests in Xiamen Qudian and Xiamen Lexiang as a nominee solely for the company's benefit and the restructurings were carried out at the instruction of the company, the board (with Mr. Luo abstaining) resolved that the company should bear all related individual income tax, late surcharges, penalties, and other tax costs. While discussions with relevant tax authorities are ongoing, Mr. Luo has made a tax filing in respect of tax payable of RMB790 million (approximately US$116 million), which is expected to be paid soon.
The company's Chairman and CEO, Mr. Luo Min, stated that the company is evaluating potential impacts on other similar historical restructurings and will record accounting provisions and make further disclosures as required.