EACON (07687) unveiled its 2026 interim results on August 26, revealing a substantial enhancement in operational quality amid a strategic business model shift and adjustments in revenue recognition pacing. The company reported revenue of RMB 549 million, with gross profit surging 844.3% year-on-year to RMB 104 million, driving the gross margin up by 17.2 percentage points to 18.9%. Losses for the period narrowed by 20.2% to RMB 189 million, while adjusted losses contracted by 22.2% to RMB 168 million, reflecting a clear trajectory of improved financial health.

In terms of scale, the company’s fleet of autonomous mining trucks in operation more than doubled to over 3,100 units by the reporting period's end, up from more than 1,600 as of June 30, 2025. An additional 1,000 trucks are currently on order and in the delivery pipeline. Based on industry-wide data, the total number of autonomous mining trucks operating across China reached approximately 6,000 by June 30, 2026, positioning EACON with a commanding market share exceeding 53% by operational fleet size.

Project scale is also expanding rapidly. EACON's solutions now serve 38 mining sites, a year-on-year increase of 12. Among these, nine sites operate fleets exceeding 100 trucks, and four sites have more than 200 trucks, with the largest single mine boasting 566 units. This normalization of large-scale fleet operations demands heightened algorithm stability, scheduling efficiency, delivery speed, and operational service quality, underscoring the company's evolution from single-point project delivery to broad commercial deployment.

The company's asset-light transformation is gaining momentum. By the end of the reporting period, approximately 600 of its operational autonomous trucks ran under a company-provided fleet model, while about 2,500 operated under a customer-provided fleet arrangement. Revenue from the customer-provided fleet model rose to 65.6% of total group revenue, up from 62.7% in the same period last year. This shift clarifies the division of responsibilities among mining operators or their contractors and autonomous driving firms concerning vehicle assets, site resources, and technological services.

In high-value markets, EACON has achieved tangible progress with the Norton Gold Fields project in Australia, a subsidiary of Zijin Mining. The first batch of six mining trucks equipped with EACON's autonomous driving solutions has entered real-world production at the Havana open-pit gold mine in Kalgoorlie, Western Australia. This marks the first autonomous truck project to operate in real production at the Kalgoorlie goldfield, making EACON the first third-party autonomous driving solution provider to deploy in Australia. In the metals mining sector, EACON deployed 60 autonomous mining trucks at Zijin Mining's Julong Copper Mine in May 2026, establishing the largest single-site autonomous driving project in the metals industry. By the end of the reporting period, EACON had served five metal mine projects in China, including Julong Copper Mine, Zijinshan Gold-Copper Mine, Shougang Shuichang Iron Mine, Shougang Dashihe Iron Mine, and Chonggang Xichang Iron Mine.

On the technology and product front, EACON, as a second completion unit, was honored with the 2025 National Science and Technology Progress Award (Second Class) on July 8, 2026, for its project on "Key Technologies and Applications for Green, Intelligent, Safe, and Efficient Mining in Large Open-Pit Mines." This marks the first time this national award has been granted to an autonomous driving project. Additionally, its self-developed IMRv2 algorithm secured first place in both the interactive prediction and trajectory prediction tracks of the Waymo Open Motion Dataset competition. As of the reporting period's end, EACON held 284 authorized patents in China and had filed 44 PCT applications.

Looking ahead, EACON remains committed to deepening its focus on mine autonomous driving, driving replication of metal mine projects, and expanding coverage of extreme complex scenarios. The company plans to leverage its Australian demonstration project to broaden international reach, advance end-to-end algorithms, mine-specific world models, and AI Agent applications in delivery and site operations, while strengthening collaborations with OEMs on pre-installed mass production and next-generation autonomous truck products.