Leko Shares Reports 83.43% Drop in First-Half Net Profit as FX Losses Hit 77.84 Million Yuan

Leko Shares (300729.SZ) reported first-half 2026 revenue of 3.179 billion yuan, up 1.11% year on year, while net profit attributable to shareholders fell 83.43% to 21.38 million yuan and non-GAAP net profit dropped 96.23% to 2.96 million yuan, according to Jiemian News. The company said the decline was mainly due to foreign-exchange losses of 77.84 million yuan, versus FX gains of 46.03 million yuan a year earlier, creating an estimated 124 million yuan swing in profit. Excluding FX effects, management said operating profit from the core business remained positive. Leko Shares said smart home revenue rose 3.6% to 1.607 billion yuan, cross-border e-commerce sales increased 13.69% to 1.141 billion yuan, and independent-store sales climbed 20.48% to 495 million yuan. Overseas warehouse revenue was 1.549 billion yuan, up 1.75 percentage points in gross margin, while the company said it served 2,351 overseas sellers and handled 8.76 million parcels in the first half. It also increased its stake in Yisibaisi to 52% after buying an additional 32% stake, expanding into gaming.