Cathay Pacific Haitong: 26H1 Computer Revenue and Profit Growth Accelerates Growth Suggestions Focus on AI Computing Power and Other Sectors
The Zhitong Finance App learned that Cathay Pacific Haitong released a research report saying that the 26H1 computer industry's revenue and profit are continuing to grow and the growth rate is accelerating; by sector, sectors such as AI computing power, Xinchuang, IOT, fintech, and AI applications performed better. The bank believes that the country is currently in the process of strengthening policies and continuing economic recovery, IT related investment from downstream customers continues to recover, and it is expected that the computer sector's revenue side will maintain an upward trend. Furthermore, as AI industry trends gradually become clear, and AI products are formed and projects are implemented, profit side prosperity will pick up. It is recommended to focus on targets related to sectors such as AI computing power, AI applications, technological self-reliance and self-improvement, and fintech.
Cathay Pacific Haitong's main views are as follows:
The 26H1 computer sector's revenue and profit both increased, and the growth rate was faster than in 25 years
The total revenue of the 2026H1 computer industry was 675.556 billion yuan, +9.40% year on year; net profit to mother was 21.673 billion yuan, +56.62% year over year; after deducting non-net profit of 14.606 billion yuan, +80.22% year over year. As of the first half of 2026, the total number of computer employees was 1.1897 million, which is basically the same as at the end of 2025. Looking at a single quarter, the total revenue of the 2026Q2 computer industry was 376.849 billion yuan, +13.28% year over year; net profit to mother was 15.968 billion yuan, +45.25% year over year; after deducting non-net profit of 11.251 billion yuan, +40.63% year over year. Overall, the total revenue and profit of the 26H1 computer sector continued to grow, and the growth rate was significantly accelerated compared to 2025.
The average net interest rate of 26H1 Computer Company stopped falling and rebounded
The average gross margin of the 2026H1 computer industry was 36.66%, and the average net margin was -12.03%. The average gross margin level declined slightly, and the average net interest rate stopped falling and rebounded. In recent years, the computer industry's total contract debt+advance accounts have continued to increase, and the growth rate is increasing. 2026H1 total contract debt+advance accounts receivable reached 164.722 billion yuan, +11.01% over the same period last year. The total amount of accounts receivable in the 2026H1 computer industry increased markedly, accounting for 55.14% of revenue, and the computer industry's prosperity increased under AI catalyst.
Sectors such as AI computing power, Xinchuang, IOT, fintech, and AI applications performed better
By sector, the 2026H1 performance double improvement sector (revenue and net profit growth rates are positive) includes SAAS, Xinchuang, AI computing power, IOT, AI applications, and fintech. The 2026Q2 performance double improvement sector (revenue and net profit growth rates are positive) includes AI computing power, credit, IOT, fintech, and AI applications. By market capitalization, compared with small to medium market capitalization companies, 2026H1 large market capitalization companies performed more steadily. The growth rates of 26H1 large market capitalization companies with a market capitalization of 10 billion or more were 12%, 63%, and 74%, respectively.
Risk warning: Performance continues to fall short of expectations; market fluctuations are high; economic recovery falls short of expectations.