WiMi management says H1 2026 revenue falls 27.3% on weaker internet AR advertising demand

• In management commentary for the six months ended June 30, 2026, revenue fell 27.3% to RMB 136.8 million on weaker internet AR advertising demand.
• Gross profit declined to RMB 38.7 million from RMB 52.1 million, despite gross margin edging up to 28.3% from 27.7%.
• Net result swung to a RMB 190.1 million loss from RMB 126.3 million income, driven by an investment income-to-loss reversal.
• Operating expenses dropped 46.2% to RMB 38 million, led by lower general and administrative costs as prior-period stock compensation did not recur.
• Operating cash flow shifted to RMB 9.2 million used from RMB 213.7 million provided, reflecting the period loss and investment losses.

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