ZKH Turns Profitable, Comix B2B Business Recovers; AI Shifts from Hype to Tangible Value | Industrial Internet Weekly

# Industry Updates

1. JD Industrials Releases Half-Year Report: Revenue Hits RMB 13.06 Billion, Up 27.4% YoY

On August 13, JD Industrials (07618.HK) published its interim results for the six months ended June 30, 2026. During the reporting period, the company generated total revenue of RMB 13.063 billion, a year-on-year increase of 27.4%; gross profit reached RMB 2.411 billion, with a gross margin of 18.5%; adjusted net profit stood at RMB 750 million, up 43.4% year-on-year. In the first half of the year, the company deployed over 70 intelligent agents, with AI-driven incremental GMV accounting for 6.5% of the GMV from key enterprise clients. Labor productivity in core roles rose by 16.6%, and the company serves 13,000 key large enterprises and millions of small and medium-sized enterprise clients. A commentary from Viewpoint Network noted that two core variables will determine the company's growth trajectory: whether the AI value proposition can move beyond the 6.5% GMV contribution to deliver deeper improvements to the income statement, and whether its international business can evolve from "piggybacking on domestic clients' overseas expansion" to building deep localized operations.

2. JD Industrials Launches Robot Components Industry Development Alliance

On August 20, at the 2026 World Robot Conference (WRC), JD Industrials joined forces with companies across the robot industry chain, including Schaeffler, Qingdao Yunlu Advanced Materials, Suzhou Yuancon, Wingfly Technology, Xiamen Hongfa Electroacoustic, DH Robotics, Shuangyuan Technology, and Shanghai Junyi Industrial Equipment, to jointly establish the Robot Components Industry Development Alliance. The alliance will adhere to the core principles of "scenarios define technology, demand drives innovation, and collaboration breaks bottlenecks", working to push robot components beyond "laboratory parameters" to achieve "industrial-grade availability, large-scale mass production, and commercial profitability". JD Industrials confirmed that over the next three years, it will help 100 robot original equipment manufacturers reduce costs across their entire product portfolios, and double the revenue of 100 component suppliers.

3. ZKH Releases Q2 2026 Results, Achieves First-Ever Quarterly Scaled Profitability

On August 21, ZKH Industrial Supply (NYSE: ZKH) released its second quarter 2026 performance report. Q2 GMV reached RMB 2.88 billion, up 18.9% year-on-year; net revenue hit RMB 2.44 billion, up 12.8% year-on-year, marking the highest growth rate in recent quarters. On the profitability front, the company achieved quarterly scaled profitability for the first time, with adjusted net profit reaching RMB 38.46 million, turning a profit from a loss in the same period last year. Chen Long, Chairman and CEO of ZKH, stated: "GMV and revenue have grown year-on-year for three consecutive quarters, with the growth rate hitting a recent quarterly high. More importantly, the company has achieved positive quarterly operating profit for the first time." AI capabilities are accelerating commercialization: the AI material steward product has served over 8,600 clients, with a cumulative total of 24 million lines of material data processed and standardized.

4. Zhaogang Group and ZKH Reach Annual Framework Cooperation Agreement

Recently, Zhaogang Group and ZKH reached an annual framework cooperation agreement, under which the two parties will collaborate on industrial product supply chains. The first order was completed recently, marking the cooperation has entered the substantive implementation phase. Starting from this partnership, Zhaogang Group will continue to leverage its product organization capabilities and fulfillment system to deepen cooperation with more industry platforms and key clients.

5. Comix Group Releases H1 2026 Report, B2B Business Returns to Growth

On August 15, Comix Group (002301.SZ) published its 2026 semi-annual report. In the first half of the year, the company recorded revenue of RMB 4.812 billion, up 0.81% year-on-year, with net profit attributable to shareholders of RMB 77 million. Revenue growth in the second quarter accelerated to 6.31% year-on-year, reversing the negative growth seen in the first quarter. The company also implemented an interim dividend for the first time, proposing to distribute a cash dividend of RMB 0.7 per 10 shares (tax inclusive) to all shareholders based on the total share capital of 724 million shares, with the total cash dividend expected to reach approximately RMB 50.68 million. On August 17, the company received research visits from 19 institutions including Shenwan Hongyuan Securities.

6. Huitongda Network and First Linedata Announce Strategic Partnership to Jointly Build New Digital Engine for Government and Enterprise Procurement

On August 18, Huitongda Network Co., Ltd. (9878.HK) and First Linedata Technology Group Co., Ltd. held a strategic launch ceremony in Nanjing. The two parties will focus on supply chain collaboration to build a government and enterprise procurement service matrix. Supported by Huitongda's ecosystem and its four-in-one strategic engine, First Linedata will build a differentiated government and enterprise procurement platform with advantages in cost, efficiency, and compliance.

7. Ouyeel Cloud Commerce Completes Unified Data Base Construction, Makes Breakthrough in Core Digital and Intelligent Capabilities

Recently, Ouyeel Cloud Commerce successfully completed the full deployment and operation of its new-generation data center based on its parent group's EPLAT XDATA technical architecture. The completion of this project marks a major breakthrough for Ouyeel Cloud Commerce in building core digital and intelligent capabilities.

8. Lenovo Group and Haier Group Sign Strategic Cooperation Agreement

On August 20, Lenovo Group and Haier Group officially signed a strategic cooperation agreement in Beijing. As AI accelerates from technological breakthroughs to industrial implementation, the two parties will fully leverage their respective advantages in technology, supply chains, and industrial ecosystems to promote deep integration of computing power and scenarios, and jointly explore new paths for AI to empower high-quality development of the real economy.

9. MIIT Approves Geely Time Navigation to Conduct Commercial Trials of Satellite Internet of Things Business

On August 20, the Ministry of Industry and Information Technology approved Zhejiang Geely Time Navigation Technology Co., Ltd. to conduct commercial trials of satellite Internet of Things business, with a trial period of two years. This is an important signal indicating accelerated commercialization of 6G satellite communication technology.

10. China Information Association Releases Report on AI Application Landscape in Industrial Internet

On August 20, the Industrial Internet Branch of the China Information Association and China Renaissance jointly released a report pointing out that almost all 43 listed companies under monitoring have launched industrial AI applications – making the industrial internet one of the sectors with the highest concentration of AI technology implementations. The report shows that 503 AI applications are deployed across more than 60 scenarios, with leading platforms dominating the market, accounting for 34% of total applications.

11. 15th China Innovation and Entrepreneurship Competition Industrial Intelligent Agent Special Contest Launched

On August 20, the 15th China Innovation and Entrepreneurship Competition Industrial Intelligent Agent Special Contest was officially launched. The competition adopts a dual-track system of "open competition and scenario-based competition" to address industry pain points, with winning projects eligible for up to RMB 10 million in support after implementation.

# Investment and Financing Highlights

1. CMBC International-Led Series D Financing of Huaqiu Continues to Garner Attention

On August 5 (coverage of the development continued this week), Shenzhen Huaqiu Intelligent Link Co., Ltd., a one-stop intelligent infrastructure platform for China's electronics industry, announced the completion of a RMB 100-million-level Series D equity financing led by CMBC International. As a key part of the "capital-intensive week" for the industrial internet sector, Huaqiu's financing, along with JLC Electronics' IPO and CosmoPlat's Hong Kong IPO filing, constituted the three landmark events in the industrial internet capital market this week.

2. CosmoPlat Pursues Hong Kong IPO, Prospectus Officially Accepted

The listing application submitted by CosmoPlat IoT Technology Co., Ltd. to the Hong Kong Stock Exchange has been officially accepted, with CICC and HSBC acting as joint sponsors. This marks CosmoPlat's second attempt to go public after its first filing lapsed in January 2026. In 2025, the company generated revenue of RMB 6.351 billion, up 25.3% year-on-year, with a net profit of RMB 221 million. As Haier's industrial internet platform, CosmoPlat has ranked first in the Ministry of Industry and Information Technology's cross-industry, cross-domain industrial internet platform evaluation for seven consecutive years.

3. Three Companies Including IndustriousMRO Fail IPO Reviews on the Same Day

In early August (the development continued to draw attention this week), three companies including IndustriousMRO failed their IPO reviews on the same day, becoming another major topic in the industrial internet capital market this week. Multiple leading companies announced AI-related layouts: JD Industrials launched the "Embodied Intelligent Chain" covering its entire business process, and announced it will purchase 4.1 million intelligent devices over the next five years.

# Macro Policies

1. Central Cyberspace Commission Issues Action Plan for Promoting High-Quality Development of Cyberspace Enterprises (2026-2030)

Recently, the Central Cyberspace Commission issued the Action Plan for Promoting High-Quality Development of Cyberspace Enterprises (2026-2030), which clearly proposes to build a batch of globally competitive industrial internet platforms. This action plan provides top-level policy guidance for the future development of the industrial internet.

2. Newly Established Generative AI Enterprises Rise 28.0% in H1

According to a People's Daily report on August 18, 561,000 new enterprises related to the "8 emerging industries and 9 future industries" were established nationwide in the first half of the year, maintaining steady growth. Among them, 55,000 new enterprises were set up in the generative artificial intelligence sector, up 28.0% year-on-year.

3. Tsinghua University PBC School of Finance Releases White Paper on Cross-Border E-Commerce Supply Chain Finance in the Greater Bay Area

On August 22, the Tsinghua University PBC School of Finance and the Greater Bay Area Import and Export Chamber of Commerce jointly released a white paper, which systematically explains how fintech is pushing supply chain finance from a new stage of "reliance on experience" to "intelligent decision-making". The white paper notes that against the backdrop of the Greater Bay Area's RMB 8.75 trillion foreign trade scale, Ping An Bank has provided RMB 1.6 trillion in financing support.

# Quotes of the Week

1. "Whether the AI narrative can move from the 6.5% GMV contribution to deeper impacts on the income statement, and whether the international business can evolve from 'piggybacking on clients' overseas expansion' to deep localized operations, will be the two core variables determining the company's growth pace."

– Viewpoint Network commentary on JD Industrials' half-year report

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2. "GMV and revenue have grown year-on-year for three consecutive quarters, with the growth rate hitting a recent quarterly high. More importantly, the company has achieved positive quarterly operating profit for the first time."

– Chen Long, Chairman and CEO of ZKH

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3. "The bottleneck in moving from laboratories to real scenarios lies not only in algorithms and models, but even more in core components."

– Relevant representative of JD Industrials

# Weekly Analysis

This week, the industrial internet sector presented three major characteristics: intensive release of financial reports, deep implementation of AI, and continuous policy support. The earnings season has validated the sector's growth logic, as AI moves from conceptual hype to tangible contributions to the income statement. Capital and policy are now aligned to drive growth. JLC Electronics' listing with a RMB 100-billion-level market capitalization, CosmoPlat's second attempt at a Hong Kong IPO, and Huaqiu's Series D financing reflect an unprecedented level of capital intensity in the sector. An era has begun where the release of data value creates new business opportunities.

This article was first published on the official website of Ebrun.