Summary
On October 28, 2026, domestic GPU vendor Moore Threads (688795.SH) reported Q3 results: revenue of RMB1.552B, up 1773.92% year over year, and first quarterly net profit attributable to shareholders of RMB49.26M.
Event Overview
- Date: On October 28, 2026, Moore Threads officially released its Q3 2026 report.
- Party: Moore Threads (688795.SH), a domestic GPU vendor.
- Event: Per National Business Daily (NBD) and CNR, Moore Threads posted Q3 revenue of RMB1.552B, up 1773.92% year over year and up 55.43% quarter over quarter, a record for a single quarter; Q3 net profit attributable to shareholders was RMB49.26M, and adjusted (non-recurring) net profit was RMB20.072M, both swinging to profitability from a year earlier.
Key Information
| Item | Detail |
|---|---|
| Reporting period | Q3 2026 |
| Release date | October 28, 2026 |
| Q3 revenue | RMB1.552B, +1773.92% YoY, +55.43% QoQ, a record single quarter |
| Q3 net profit attributable to shareholders | RMB49.2604M, swung to profit YoY |
| Q3 adjusted (non-recurring) net profit | RMB20.0724M, swung to profit YoY |
| Nine-month revenue | RMB3.29B, +319.1% YoY |
| Trailing-12-month revenue | RMB4.01B as of the period end |
| Nine-month net profit attributable to shareholders | RMB37.697M |
| Nine-month gross margin | About 53.8% |
| Q3 R&D investment | RMB570M, +87.9% YoY |
| Nine-month R&D investment | RMB1.34B, already exceeding full-year 2025 |
Background and Impact
- Profit ahead of schedule: Per NBD, the quarterly turnaround came well ahead of the company's target of achieving profitability in 2027.
- Commercial progress: Per NBD, its MTT S5000-based intelligent computing products gained recognition on both model training and inference fronts; in September this year, JD Cloud announced plans to partner with Moore Threads to build a 100,000-card full-function GPU cluster.