A Perspective on Botai Auto Federation (02889) 2026 Interim Report: Targeted Centralized Cash, AI Opens Up a Global Growth Curve
The Zhitong Finance App learned that in 2026, the automotive industry will officially enter the first year of mass production of end-side AI. The big AI model is being implemented at an accelerated pace on vehicle chips, and the integration of mobile clouds has become the mainstream technology route, and smart cockpits are rapidly evolving from an “obedient tool” to an “intelligent travel partner with active service.” While the industry is still discussing how AI can get into cars, Botai Auto Federation (02889) has used the 2026 interim results to answer how AI can create value.
In the first half of 2026, on the basis of stabilizing the basic market of traditional business, Botai Auto Union continued to increase its artificial intelligence business resource preferences, encouraging the continuous release of emerging AI business potential, and overall business performance was steady, moderate and positive.
During the period, the company achieved revenue of 2,228 billion yuan, an increase of 105.1% over the previous year. Among them, AI intelligent solutions generated revenue of about 209 million yuan, a year-on-year increase of 588.6%. The company's continued revenue growth is mainly due to two major logics: first, the smart cockpit business is being upgraded to a high end, and the proportion of high-value-added projects continues to increase; second, new AI businesses, and innovative service models continue to contribute more and more.
As can be seen, while the industry is still exploring AI boarding routes, Botai Auto Joint's semi-annual report confirms its core growth: the main high-end smart cockpit industry consolidates the chassis, expands the new AI business with overseas markets and innovative services, and at the same time enhances cost reduction and efficiency, and the three work together to open up space for the company's growth.
Multiple business breakthroughs to fully unleash growth momentum
In the first half of 2026, the smart cockpit, as the core base of Botai Auto Connect, ushered in an intensive harvest period. Relying on mainstream high-end chip platforms such as Qualcomm, Kirin, and Nvidia, the company achieved targeted batch implementation of multiple brands and models, and continued to lead the industry with high-end, AI, and global advantages.
During the reporting period, Botai Auto Connect added 3 overseas and domestic fixed locations for leading domestic car companies based on the Qualcomm SA8295P platform, and added 5 AI cockpit models based on the Kirin 9610A platform. The AI cockpit based on Qualcomm's fifth-generation Snapdragon cockpit platform Extreme Edition (QAM8397P/QAM8797P) continues to advance R&D and mass production. A leading new energy company targeted mass production in the second quarter. Under the resonance of multi-platform targeting and mass production of flagship projects, a complete product matrix covering the middle and high-end to flagship levels has also been built for the company's cockpit business, which in turn has enabled the company to have sufficient order reserves.
In addition, during the period, Botai Auto Connect's overseas high-end market also ushered in a major breakthrough. The company's cockpit projects in cooperation with international luxury car brands successfully passed the inspection, and the products will soon be sold to the European and Middle Eastern markets, fully confirming that its technical strength and engineering delivery capabilities have been recognized by high-end car companies around the world, and the global business layout has taken a key step.
At the same time, the company's AI solution business has maintained a strong development trend, and several major layouts are progressing simultaneously: in terms of cockpit, it continues to receive high-end cockpit chip research and development projects to provide pre-production support for OEMs; in terms of infrastructure, expanding computing power services based on AI servers to meet customers' AI computing needs; in terms of R&D efficiency, the self-built platform has already gained a number of external commercial landing projects, and the customer industry continues to expand.
High-end cockpit superposition and AI drive multi-point expansion, and Botai Auto Connect's growth momentum is also getting stronger, driving a steady increase in revenue scale.
Production capacity+R&D dual line implementation to establish long-term technical barriers
If multiple breakthroughs in the business have brought immediate growth, then future growth is brought about by long-term technical barriers built through production capacity+R&D dual line implementation.
On the R&D side, Botai Auto Union firmly promoted the AI strategy and maintained a high level of R&D investment. R&D expenses during the reporting period were 148 million yuan, an increase of 33.5% over the previous year. The company continues to attack underlying technologies such as large end-side models, world models, AI agents, and cloud-integrated platforms, and continuously reinforce the technology moat. Along with the accelerated implementation of R&D results, the self-developed cloud integrated AI agent platform was targeted by leading car companies. The AI digital R&D system was gradually formed, and technology iterations were implemented efficiently, saving sufficient potential for subsequent business situation improvements.
During the reporting period, the company became one of the first contracted customers of Horizon's first vehicle smart chip, Horizon Starry Sky®, and collaborated with Xunce Technology and Saimu Technology to jointly develop Token-based physical AI world models and TokenOS, actively explore innovative business models such as in-vehicle Tokens billing, and promote the upgrading of in-vehicle AI from hardware sales to continuous operation.
On the production capacity side, Botai Auto Connect's production capacity layout in the first half of 2026 ushered in a landmark implementation: Ruian's intelligent manufacturing base was fully put into operation, multiple bases in Neijiang, Xinchang and Xiamen continued to expand production, and overall delivery capacity was greatly improved. It can fully accept high-end fixed orders that continue to be implemented at home and abroad, providing solid production capacity support for continued performance release.
The concentrated implementation of production capacity has “bottomed out” growth, and continued deepening research and development has given “light” to the future. When production lines at multiple bases are at full capacity, what undertakes high-end orders at home and abroad is not only the delivery capacity, but also Botai Auto Federation's extensive technical investment over the years; when AI Agent and Duanyun integrated platforms move from laboratories to fixed locations for leading car companies, the technical moat is not just patent numbers, but hematopoietic capacity in the “R&D - fixed point - mass production” cycle.
In August of this year, the company announced the acquisition of about 70% of the shares of Chengdu Mingyi, a domestic optical communication and electronic chip design company. Chengdu Mingyi is one of the few domestic enterprises that can mass-produce single-channel 100G TIA electronic chips. The products are widely used in 400G/800G optical modules.
Looking ahead, Botai Auto Connect will continue to rely on the advantages of multi-chip platforms to accelerate mass production of high-end AI cockpits and promote a global overseas layout; at the same time, it will launch new businesses such as AI BOX and AI Agent, and lay out optical chips to improve the closed loop of software and hardware, and continue to open up room for growth.
Summarize
In the first half of 2026, Botai Auto Union proved that the AI strategy was not a concept but an implementation by using a high-end fixed site, a mass production base, and a new business line.
Looking forward to the future, from high-end cockpits and AI boxes to optical chips, Botai Auto Union is drawing a growth curve from automotive intelligence to global intelligence using the integrated capabilities of “soft and hard core cloud”. Looking at the flexibility of performance brought about by the release of production capacity in the short term, and looking at the competitive barriers created by technological compound interest in the long term, when the industrial wave resonates with its own pace, Botai Auto Connect will also enter a high-quality growth channel, and both performance and value will soar.