Jinxin Technology management says H1 2026 revenue drop driven by weaker telecom distributor membership card sales

Management said revenue fell 31.8% to RMB 142.1 million for the six months ended June 30, 2026, led by weaker distributor sales.

Licensing revenue from content aggregators and distributors dropped 44.8% to RMB 79.9 million, tied to lower membership card sales via carrier internet channels.

Subscription revenue from individual users declined 33.3% to RMB 19 million, reflecting fewer regular paying users while new publishing-partner users stayed in trial.

Content sold to hardware manufacturers rose 44.8% to RMB 20.7 million on higher technology service revenue from digitalizing paper-based textbooks.

Gross margin widened to 19.6% from 14.9%; net loss narrowed to RMB 10.5 million from RMB 21.1 million on lower costs and R&D spend.