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Swancor Advanced Materials released its 2026 third quarter report on October 30, 2026. According to Yicai, the company's net loss attributable to shareholders for the first three quarters was 422 million yuan, down 796.94% year-on-year, mainly due to a substantial increase in R&D and marketing investment in the consumer-grade embodied intelligent robot business. In the same period, the new materials business recorded net profit attributable to shareholders of 63.5181 million yuan, up 4.91% year-on-year; the robot business invested 360 million yuan in R&D and has not yet recognized revenue. Qiyuan Q1 and Qiyuan T1 went on sale on September 20 and deliveries began in October.
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Oct 30
Yicai
SWANCOR Advanced Materials posted a net loss of 422 million yuan in the first three quarters: the new materials business was profitable, while investment in the robotics business dragged down profit
In the first three quarters of 2026, SWANCOR Advanced Materials reported a net loss attributable to shareholders of 422 million yuan, down 796.94% year on year, mainly due to a substantial increase in R&D and marketing investment in its consumer-grade embodied intelligent robotics business. The new materials business posted net profit attributable to shareholders of 63.5181 million yuan in the first three quarters, up 4.91% year on year; the robotics business invested 360 million yuan in R&D and has not yet recognized revenue. Qiyuan Q1 and Qiyuan T1 were released and went on sale on September 20, with deliveries beginning in October.