On Time (9680.HK) Issues Profit Alert: Expects H1 2026 Revenue to Reach at Least RMB3.9 Billion, Up 132.6% YoY
HONG KONG, GUANGZHOU and SHENZHEN, Aug. 5, 2026 /PRNewswire/ -- On Time (9680.HK), a Chinese mobility technology and services company, issued a positive profit alert on 3 August, saying it expects consolidated revenue of no less than RMB3.9 billion for the six months ended June 30, 2026. This represents a year-on-year increase of 132.6%, or a rise of at least RMB2.224 billion from the same period in 2025. The Company also expects profitability to improve by at least 40% compared with the prior-year period.
This marks On Time's second consecutive positive earnings pre-announcement in 2026, following two straight years of gross margin recovery—an indication that the Company has entered a pivotal phase on its path to sustainable profitability.
The Company attributed the revenue surge to a substantial increase in ride-hailing order volume and growth in technology services revenue. Profitability improvements, meanwhile, were driven by enhanced operational efficiency, cost structure optimization, and expanded technology service volumes—all of which contributed to gross profit growth.
Looking beyond the immediate term, On Time has established a clear and accelerating growth trajectory. In the first half of 2025, the Company generated RMB1.676 billion in revenue. By the second half of that year, revenue had more than doubled to RMB3.61 billion. The Company's latest guidance of at least RMB3.9 billion for the first half of 2026—a 132.6% year-on-year increase—confirms that this upward trend continues to gain momentum.
Underpinning this performance is the Company's "Mobility + Technology" dual-engine business model. Together, the two segments drove strong revenue growth in the first half of 2026.
Previous results demonstrated robust momentum across both businesses. In the first half of 2025, mobility services grew 86% year-on-year, while technology services surged 207%. Based on current guidance, both segments are expected to register even stronger growth rates in the first half of 2026—a clear sign that On Time's core business drivers continue to accelerate.
The expanding mobility business is now generating increasingly strong cash flow, while technology services have emerged as a new source of growth that is expected to further improve profitability. With gross margins returning to positive territory, revenue growing rapidly, and profitability steadily improving, the Company believes it has established a stronger foundation for sustainable long-term growth.
In March of this year, Soochow Securities published a research note identifying three clear trends at On Time: accelerating growth, narrowing losses, and an improving revenue mix. The report noted that the Company's business model is transitioning from a mobility-only operation to a "Mobility + Technology" dual-driver framework, and projected that On Time would achieve profitability by 2027.
source: Ontime