AAC Technologies CFO: Double-Digit Revenue Growth in 2026, AI New Businesses to Exceed RMB 8 Billion by 2027
Nashnova编辑部
AAC Technologies posted a record RMB 14.51 billion in first-half revenue. CFO Guo Dan guided for double-digit full-year growth in 2026 and RMB 8–9 billion in AI-related revenue by 2027 — signaling a decisive engine shift from smartphone components to AI thermal, optical communications, and robotics.
How did the first half actually go?
Revenue hit RMB 14.51 billion, up 8.9% year-on-year; net profit rose 2.9% to RMB 901 million — modest on the surface, but strip out fair-value gains and losses and net profit growth was 37.4%.
This means → investment mark-to-market dragged headline profit; the core business is actually accelerating.
This marks the third consecutive year of record half-year revenue since AAC began its AI pivot.
What's the outlook for the four legacy segments?
Acoustics & electromagnetic drives: first-half revenue RMB 6.01 billion, up 14.2%; full-year guidance is single-digit growth with gross margin improving from 28.6%.
Precision structures & thermal: the fastest grower — full-year revenue expected to rise over 30%; thermal revenue alone hit RMB 1.1 billion in the first half, up 400% year-on-year.
Sensors & semiconductors: AI-driven device upgrades push full-year growth to 15–20%; automotive acoustics guided for the same range, but gross margin may dip roughly 2 percentage points on competition.
The optics segment saw revenue decline, yet gross margins on plastic and G+P lenses rose more than 5 percentage points as AAC shifts toward high-end 6P-and-above lenses and accelerates overseas customer certification.
AI thermal and optical comms — how fast can the two new curves run?
On thermal management, AAC now ranks among the top global consumer-electronics thermal players and the top three in China's AI-server liquid-cooling market. Its subsidiary Yuandi Technology mass-produces high-power CDUs — coolant distribution units that carry heat away from servers via liquid — at over 600 units per month, with global shipments underway.
On optical communications, AAC's proprietary WLG wafer-level glass molding technology — making optical elements from glass instead of plastic for higher precision at scale — is in sampling and factory audits with leading overseas optical-comms firms. The CFO projects roughly RMB 100 million in initial revenue from this line by 2027.
In plain terms = thermal is already generating revenue; optical comms is still at the "knocking on customers' doors" stage — the two curves are one to two years apart in maturity.
How big is the robotics play?
The CFO disclosed that robotics-related revenue could reach RMB 400–700 million in 2027, spanning core component supply and joint technology development.
AAC has entered deep partnerships with several leading overseas robotics manufacturers; full-machine projects are expected to begin mass production by late 2026.
This means → robotics is not yet a revenue pillar, but it already has named customers and a concrete production timeline.
Where does the RMB 8–9 billion AI target come from?
The CFO's breakdown: VC vapor chambers & active thermal ~RMB 5 billion, AI devices & gimbals ~RMB 1.5 billion, CDU liquid cooling & cold plates ~RMB 1 billion, robotics components RMB 400–700 million, automotive acoustics new initiatives ~RMB 500 million, WLG optical comms ~RMB 100 million.
This reflects that thermal management alone accounts for over 60% of the AI new-business target — it is the single biggest growth bet.
Guo Dan stressed that "RMB 8–9 billion is only the beginning," but delivery hinges on the ramp-up pace and customer onboarding for thermal, optical comms, and robotics — making these the key proof points for 2027 earnings.
Content is for reference only, not financial advice.