High Templar Tech Limited Reports First Half of 2026 Unaudited Financial Results

Higher investment income was offset by derivative losses, while the last-mile delivery business was completely wound down.

Rhea-AI Summary

High Templar Tech (NYSE: HTT) reported first-half 2026 shareholder net income of RMB416.9 million, down from the same period last year. Revenue fell 72.7% to RMB8.0 million as the company completed winding down its last-mile delivery business. Shareholder net income compared with RMB461.9 million a year earlier; diluted earnings per American depositary share (ADS) fell to RMB2.64 from RMB2.72.

Net interest and investment income rose to RMB1,283.6 million from RMB605.9 million, while derivatives produced a RMB602.7 million loss versus a RMB77.5 million gain. Operating loss widened to RMB180.0 million from RMB179.3 million. Operating activities generated RMB1,142.6 million in cash. At June 30, cash and equivalents were RMB3,811.5 million, alongside RMB2,322.5 million in restricted cash. Through October 13, purchases under the current buyback program totaled 69.1 million ADSs for approximately US$208.3 million.

10 points · 1 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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1 major · 16 points

How the balance works

Positive

• Major pointCurrent-program repurchases reached 69.1 million ADSs for approximately US$208.3 million through October 13, 2026. 60% of market cap
• Moderate pointNet interest and investment income rose to RMB1,283.6 million from RMB605.9 million in first-half 2025.
• Moderate pointFirst-half operating activities generated RMB1,142.6 million in cash, mainly from interest and investment income.
• Minor pointCost of revenues fell 77.7% to RMB6.5 million versus first-half 2025 as delivery services wound down.
• Minor pointResearch and development expenses fell 75.0% to RMB6.1 million versus first-half 2025, reflecting lower staffing costs.

5 minor points

• Minor pointSales and marketing expenses fell to RMB153,000 from RMB2,119,000 in first-half 2025.
• Minor pointCredit-loss reversals increased to RMB13,574,000 from RMB1,226,000 in first-half 2025.
• Minor pointAsset impairment losses decreased to RMB4,965,000 from RMB40,308,000 in first-half 2025.
• Minor pointEquity-method investments generated RMB396,000 income, versus a RMB1,005,000 loss in first-half 2025.
• Minor pointOther income increased to RMB11,295,000 from RMB6,895,000 in first-half 2025.

Negative

• Major pointDerivatives produced a RMB602.7 million loss, versus a RMB77.5 million gain in first-half 2025.
• Moderate pointRevenue fell 72.7% to RMB8.0 million versus first-half 2025 as the delivery business wound down.
• Moderate pointShareholder net income fell to RMB416.9 million from RMB461.9 million in first-half 2025.
• Moderate pointGeneral and administrative expenses rose 61.0% to RMB183.9 million versus first-half 2025.
• Moderate pointInvesting activities used RMB1,752.3 million, mainly for deposits pledged as collateral for derivatives.
• Moderate pointRestricted cash of RMB2,322.5 million at June 30 was unavailable for general liquidity needs.
• Moderate pointLong-term borrowings reached RMB680 million at June 30, 2026, versus none at December 31, 2025.
• Moderate pointDerivative liabilities rose to RMB414,881,000 from RMB52,012,000 at December 31, 2025.
• Moderate pointTotal equity fell to RMB11,081,900,000 at June 30 from RMB11,631,604,000 at December 31, 2025.

7 minor points

• Minor pointDiluted earnings per ADS fell to RMB2.64 from RMB2.72 in first-half 2025.
• Minor pointOperating loss widened to RMB180.0 million from RMB179.3 million in first-half 2025.
• Minor pointForeign exchange losses increased to RMB51,642,000 from RMB13,744,000 in first-half 2025.
• Minor pointIncome tax expenses increased to RMB43,045,000 from RMB33,530,000 in first-half 2025.
• Minor pointOther operating income fell to RMB125,000 from RMB365,000 in first-half 2025.
• Minor pointOther expenses rose to RMB1,032,000 from RMB886,000 in first-half 2025.
• Minor pointFirst-half financial information is preliminary and unaudited, subject to potential adjustments after year-end audit work.

News Explained

High Templar’s board resolved that the company bear Chairman and CEO Luo Min’s tax, surcharges, penalties and other costs from historical restructurings, and Luo has made a tax filing for RMB790 million, expected to be paid soon, while tax discussions continue and the company says further costs may arise as it assesses similar restructurings.

Key Figures

Total revenues: RMB8.0 million Net income attributable to shareholders: RMB416.9 million Net income per diluted ADS: RMB2.64 +5 more

Total revenues

RMB8.0 million

First half of 2026; compared with RMB29.3 million in the same period of 2025

Net income attributable to shareholders

RMB416.9 million

First half of 2026; compared with RMB461.9 million in the same period of 2025

Net income per diluted ADS

RMB2.64

First half of 2026

Interest and investment income, net

RMB1,283.6 million

First half of 2026; compared with RMB605.9 million in the same period of 2025

Loss on derivative instruments

RMB602.7 million

First half of 2026; compared with a gain of RMB77.5 million in the same period of 2025

Cash balances

RMB3,811.5 million cash and cash equivalents; RMB2,322.5 million restricted cash

As of June 30, 2026; restricted cash was not available for general liquidity needs

Tax filing

RMB790 million

Filed by the Chairman and CEO; expected to be paid soon, with potential additional tax costs

Aggregate share repurchases

US$902.5 million

Total amount for 223.4 million ADSs purchased as of October 13, 2026

Previous Earnings Reports

1 past event · Latest: Mar 11

Same Type 1 event

1. Mar 11

   FY2025 earnings

   24h Move

   +1.1%

   FY2025 reported RMB708.6M net income amid last-mile delivery transition and investment and derivative gains.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

diluted ADS, derivative instruments, restricted cash, expected credit losses, +1 more

5 terms

diluted ADS financial

"Net income per diluted ADS was RMB2.64 (US$0.39)"

Additional American Depositary Shares (ADS) created or issued in a way that reduces the percentage ownership represented by each existing ADS. Like adding more slices to a pizza while keeping the original slices the same size, dilution means each ADS represents a smaller claim on the company’s equity, earnings, and sometimes voting power, which can change per‑share metrics investors use to compare value.

derivative instruments financial

"Gain/(Loss) on derivative instruments was a loss of RMB602.7 million"

Contracts whose value is tied to the price or performance of something else—like a stock, bond, commodity, currency or market index. Think of them as a bet or an insurance policy that lets investors gain exposure, hedge risk, or speculate without owning the asset itself; their use can amplify gains or losses and affect a portfolio’s risk profile, liquidity and potential returns.

restricted cash financial

"restricted cash, current and non-current of RMB2,322.5 million"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

expected credit losses financial

"Reversal of expected credit losses on receivables and other assets"

Expected credit losses are an accounting estimate of how much a lender or company expects to lose when borrowers or customers don’t fully pay what they owe, combining how likely nonpayment is with how big the loss would be. Investors care because these estimates determine how much a firm must set aside from earnings as a reserve, directly affecting reported profits, balance-sheet strength and perceptions of credit risk—like setting aside a rainy-day fund for unpaid bills.

tender offer financial

"in the open market and a tender offer for a total amount"

A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.

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XIAMEN, China, Oct. 14, 2026 /PRNewswire/ -- High Templar Tech Limited ("High Templar" or "the Company" or "We") (NYSE: HTT), today announced its unaudited financial results for the six months ended June 30, 2026.

First Half of 2026 Financial Highlights:

• Total revenues were RMB8.0 million (US$1.2 million), compared to RMB29.3 million for the same period of last year
• Net income attributable to the Company's shareholders was RMB416.9 million (US$61.4 million), compared to RMB461.9 million for the same period of last year; net income per diluted ADS was RMB2.64 (US$0.39) for the first half of 2026

We continued to execute our business transition while maintaining a healthy balance sheet by pursuing efficient cash management. Moving forward, we remain focused on navigating market dynamics and capitalizing on new business opportunities in order to deliver long-term value for our shareholders.

First Half of 2026 Financial Results

Sales income and others decreased by 72.7% to RMB8.0 million (US$1.2 million) from RMB29.3 million for the first half of 2025, which was primarily due to the winding down of our last-mile delivery business. We have completely wound down the last-mile delivery business in the first half of 2026.

Total operating costs and expenses decreased by 10.0% to RMB188.1 million (US$27.7 million) from RMB209.0 million for the first half of 2025.

Cost of revenues decreased by 77.7% to RMB6.5 million (US$1.0 million) from RMB29.2 million for the first half of 2025, primarily due to the decrease in service cost as we wound down the last-mile delivery business.

General and administrative expenses increased by 61.0% to RMB183.9 million (US$27.1 million) from RMB114.2 million for the first half of 2025, primarily due to the increase in depreciation following the completion of the construction of our headquarters, loan arrangement fees related to the borrowings and employee benefit.

Research and development expenses decreased by 75.0% to RMB6.1 million (US$0.9 million) from RMB24.4 million for the first half of 2025, as a result of the decrease in staff headcount, which led to a corresponding decrease in personnel cost.

Loss from operations was RMB180.0 million (US$26.5 million), compared to RMB179.3 million for the first half of 2025.

Interest and investment income, net was RMB1,283.6 million (US$189.2 million), compared to RMB605.9 million for the first half of 2025, mainly attributable to the increase of income from investments in the first half of 2026.

Gain/(Loss) on derivative instrument was a loss of RMB602.7 million (US$88.8 million), compared to a gain of RMB77.5 million for the first half of 2025, mainly due to the decrease in quoted price of the underlying equity securities relating to the derivative instruments we held.

Net income attributable to the Company's shareholders was RMB416.9 million (US$61.4 million), compared to RMB461.9 million in the first half of 2025. Net income per diluted ADS was RMB2.64 (US$0.39).

Cash Flow

As of June 30, 2026, the Company had cash and cash equivalents of RMB3,811.5 million (US$561.7 million) and restricted cash, current and non-current of RMB2,322.5 million (US$342.3 million). Restricted cash mainly represents security deposits held in designated bank accounts for the guarantee of short-term and long-term borrowings. Such restricted cash is not available to fund the general liquidity needs of the Company.

For the first half of 2026, net cash provided by operating activities was RMB1,142.6 million (US$168.4 million), mainly attributable to proceeds from interest and investment income. Net cash used in investing activities was RMB1,752.3 million (US$258.3 million), mainly due to payments of deposits pledged as collateral for derivative instruments. Net cash used in financing activities was RMB225.2 million (US$33.2 million), mainly due to the repurchase of ADSs and partially offset by the proceeds from long-term borrowings.

Update on Share Repurchase

Our Board approved a share repurchase program in March 2024 to purchase up to US$300 million worth of Class A ordinary shares or ADSs in the next 36 months starting from June 13, 2024. From the launch of the share repurchase program on June 13, 2024 to October 13, 2026, the Company has in aggregate purchased 69.1 million ADSs in the open market and a tender offer for a total amount of approximately US$208.3 million (an average price of $3.0 per ADS) pursuant to the share repurchase program.

As of October 13, 2026, the Company had in aggregate purchased 223.4 million ADSs for a total amount of approximately US$902.5 million (an average price of $4.0 per ADS).

Subsequent events

The Company's Chairman and CEO, Mr. Luo Min, recently received a tax notice from the Xiamen Municipal Tax Bureau concerning historical equity restructurings of two PRC consolidated entities, Xiamen Qudian Technology Co., Ltd. ("Xiamen Qudian") and Xiamen Lexiang Time Technology Co., Ltd. ("Xiamen Lexiang"); under applicable PRC tax laws, these restructurings are taxable events for Mr. Luo and subject to individual income tax as "income from transfer of property". Because Mr. Luo held all of his equity interests in Xiamen Qudian and Xiamen Lexiang as nominee solely for the Company's benefit and the restructurings were carried out at the instruction of the Company, the board (with Mr. Luo abstaining) resolved that the Company should bear all related individual income tax, late surcharges, penalties and other tax costs. While discussions with relevant tax authorities are ongoing, Mr. Luo has made a tax filing in respect of tax payable of RMB790 million (approximately US$116 million), which is expected to be paid soon. The tax filing was made by Mr. Luo based on the Company's assessment of the current situation and the Company does not exclude the possibility that further taxes, late surcharges, penalties and other tax costs may be payable in connection with the restructurings of Xiamen Qudian and Xiamen Lexiang. The Company is evaluating potential impacts on other similar historical restructurings and will record accounting provisions and make further disclosures as required.

About High Templar Tech Limited

High Templar Tech Limited ("High Templar") is exploring innovative business opportunities globally to satisfy clients' demand by leveraging its technology know-how and financial service capabilities.

For more information, please visit https://ir.hightemplar.com/.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.7851 to US$1.00, the noon buying rate in effect on June 30, 2026, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Statement Regarding Preliminary Unaudited Financial Information

The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company's year-end audit, which could result in significant differences from this preliminary unaudited financial information.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the expectation of its collection efficiency and delinquency, contain forward-looking statements. High Templar may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about High Templar's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: High Templar's goal and strategies; High Templar's expansion plans; High Templar's future business development, financial condition and results of operations; High Templar's expectations regarding demand for, and market acceptance of, its products; High Templar's expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in High Templar's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and High Templar does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
High Templar Tech Limited
Tel: +86-592-317-2318
E-mail: ir@hightemplar.com 

 

High Templar Tech Limited
Unaudited Condensed Consolidated Statements of Operations
		Six months ended June 30,
(In thousands except for number		2025		2026
of shares and per-share data)				(Unaudited)		(Unaudited)
		RMB		RMB		US$
Revenues:
Sales income and others		29,279		8,008		1,180
Total revenues		29,279		8,008		1,180
Operating cost and expenses:
Cost of revenues		(29,195)		(6,515)		(960)
Sales and marketing		(2,119)		(153)		(23)
General and administrative		(114,197)		(183,910)		(27,105)
Research and development		(24,395)		(6,126)		(903)
Reversal of expected credit losses on receivables and other assets		1,226		13,574		2,001
Impairment loss from other assets		(40,308)		(4,965)		(732)
Total operating cost and expenses		(208,988)		(188,095)		(27,722)
Other operating income		365		125		18
Loss from operations		(179,344)		(179,962)		(26,524)
Interest and investment income, net		605,941		1,283,587		189,177
(Loss)/Gain from equity method investments		(1,005)		396		58
Gain/(Loss) on derivative instruments		77,540		(602,737)		(88,832)
Foreign exchange loss, net		(13,744)		(51,642)		(7,611)
Other income		6,895		11,295		1,665
Other expenses		(886)		(1,032)		(152)
Net income before income taxes		495,397		459,905		67,781
Income tax expenses		(33,530)		(43,045)		(6,344)
Net income		461,867		416,860		61,437
Net income attributable to the Company's shareholders		461,867		416,860		61,437
Earnings per share for Class A and Class B ordinary shares:
Basic		2.80		2.69		0.40
Diluted		2.72		2.64		0.39
Earnings per ADS (1 Class A ordinary share equals 1 ADSs):
Basic		2.80		2.69		0.40
Diluted		2.72		2.64		0.39
Weighted average number of Class A and Class B ordinary shares outstanding:
Basic		164,818,209		155,157,078		155,157,078
Diluted		169,625,551		157,675,611		157,675,611
Other comprehensive loss:
Foreign currency translation adjustment		(21,215)		(61,416)		(9,052)
Total comprehensive income		440,652		355,444		52,385
Total comprehensive income attributable to the Company's shareholders		440,652		355,444		52,385

 

 

High Templar Tech Limited
Unaudited Condensed Consolidated Balance Sheets
			As of December 31,		As of June 30,
(In thousands except for number			2025		2026
of shares and per-share data)					(Unaudited)	(Unaudited)
			RMB		RMB	US$
ASSETS:
Current assets:
Cash and cash equivalents			5,532,376		3,811,463	561,740
Restricted cash, current			1,523,658		1,533,363	225,990
Time and structured deposits			1,885,243		974,074	143,561
Derivative instruments-asset			113,191		10,939	1,612
Short-term investments			879,225		1,714,157	252,636
Accounts receivables			5,351		-	-
Other current assets			1,453,174		2,972,903	438,152
Total current assets			11,392,218		11,016,899	1,623,691
Non-current assets:
Right-of-use assets			92,623		96,279	14,190
Investment in equity method investee			126,533		144,756	21,334
Long-term investments			72,769		73,525	10,836
Restricted cash, non-current			-		789,183	116,311
Property and equipment, net			1,677,993		1,659,168	244,531
Intangible assets			1,586		1,301	192
Other non-current assets			249,189		276,574	40,762
Total non-current assets			2,220,693		3,040,786	448,156
TOTAL ASSETS			13,612,911		14,057,685	2,071,847
High Templar Tech Limited
Unaudited Condensed Consolidated Balance Sheets (Continued)
			As of December 31,		As of June 30,
(In thousands except for number			2025		2026
of shares and per-share data)					(Unaudited)	(Unaudited)
			RMB		RMB	US$
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term borrowings			1,576,000		1,576,000	232,274
Short-term lease liabilities			4,233		846	125
Derivative instruments-liability			52,012		414,881	61,146
Accrued expenses and other current liabilities			290,251		270,053	39,801
Income tax payable			58,156		33,751	4,974
Total current liabilities			1,980,652		2,295,531	338,320
Non-current liabilities:
Long-term lease liabilities			655		254	37
Long-term borrowings			-		680,000	100,220
Total non-current liabilities			655		680,254	100,257
Total liabilities			1,981,307		2,975,785	438,577
Shareholders' equity:
Class A Ordinary shares			132		132	19
Class B Ordinary shares			44		44	6
Treasury shares			(1,716,516)		(2,534,443)	(373,531)
Additional paid-in capital			4,024,379		3,937,158	580,265
Accumulated other comprehensive loss			(55,181)		(116,597)	(17,184)
Retained earnings			9,378,746		9,795,606	1,443,695
Total equity			11,631,604		11,081,900	1,633,270
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			13,612,911		14,057,685	2,071,847

 

 

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SOURCE High Templar Tech Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were High Templar Tech's first-half 2026 revenue and earnings?

High Templar Tech reported RMB8.0 million in revenue and RMB416.9 million in shareholder net income for the six months ended June 30, 2026. Revenue declined 72.7% from first-half 2025, while shareholder net income compared with RMB461.9 million a year earlier. Diluted earnings per ADS were RMB2.64.

How much has HTT repurchased under its current share buyback program?

High Templar Tech purchased 69.1 million ADSs for approximately US$208.3 million under its current program from June 13, 2024 through October 13, 2026. The average purchase price was $3.0 per ADS. The program authorizes up to US$300 million of purchases over 36 months starting June 13, 2024.

Why is High Templar Tech's restricted cash unavailable for general use?

Restricted cash mainly consists of security deposits guaranteeing short-term and long-term borrowings in designated bank accounts. These funds are not available to fund the company's general liquidity needs.

Why did High Templar Tech's administrative expenses increase in first-half 2026?

General and administrative expenses increased primarily because of higher depreciation after headquarters construction was completed, loan arrangement fees related to borrowings, and employee benefits. Expenses rose 61.0% to RMB183.9 million from RMB114.2 million in first-half 2025.