Sound Group Inc.（SOGP）发布2026年上半年未经审计财报：收入同比+25%，净利润同比+78%

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EX-99.1
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ex99-1.htm
EX-99.1
Exhibit
99.1
Sound
Group Inc. Reports Unaudited Financial Results for the First Half 2026
SINGAPORE,
Aug. 26, 2026 (GLOBE NEWSWIRE) -- Sound Group Inc. (NASDAQ: SOGP) (“SOGP” or the “Company” or “We”),
a global AI-powered audio company, today announced its unaudited financial results for the six months ended June 30, 2026.
First
Half 2026 Financial and Operational Highlights
●
Net
revenues
were RMB1,690.6 million (US$249.2 million), representing a 25% increase from
RMB1,357.7 million for the same period last year.
●
Net
income
was RMB120.5 million (US$17.8 million), representing a 78% increase from RMB67.6
million for the same period last year.
Mr.
Jinnan (Marco) Lai, Founder and CEO of SOGP, commented, “We delivered another solid performance in the first half of 2026, with
net revenues and net income increasing by 25% and 78% year-over-year respectively. These results validated our dual-engine growth strategy
of accelerating our global AI business expansion while strengthening our established online audio ecosystem.
Our
AI business achieved meaningful progress, with subscription revenues surging 245% year-over-year, driven by an expanding portfolio of
AI-powered applications and accelerating commercialization. Globally, our products are gaining encouraging traction. According to Sensor
Tower, year-to-date in 2026, one of our flagship products has achieved a single-day peak ranking of No. 1 among the highest-grossing
Utilities applications in 23 markets and ranked among the Top 10 in 83 markets, with several other products also performing
strongly. Our products have also received high ratings across major app stores, reflecting superior user experiences and positive feedback
worldwide. Together, these results demonstrate growing user demand, strengthening monetization capabilities, and the global scalability
of our AI offerings.
On
the technology front, we are strengthening our voice AI and real-time audio intelligence capabilities, while translating these technological
advances into products designed for distinct user scenarios. Our product strategy combines horizontal expansion across diverse application
scenarios with deep vertical development tailored to specific user groups, enabling both broader reach of our AI portfolio and increasingly
unique experiences.
In
our value-added services business, we continued to enrich our online audio ecosystem and reinforce the connections between users, content
creators, and the platform. We expanded our content offerings, enhanced product experiences, and upgraded creator support and incentives.
We also applied AI more widely across content creation, personalized recommendations, platform operations, and user acquisition to boost
efficiency and better serve the evolving needs of our users and creators.
Looking
ahead, AI will remain a key driver of both the continued evolution of our established business and the development of new growth opportunities.
In our online audio business, we will deepen AI integration to enhance ecosystem efficiency and user engagement. For our AI applications,
we will continue to refine products based on user insights, accelerate product iteration and commercialization validation, and explore
practical, high-frequency, and scalable use cases through our expanding portfolio. By strengthening the flywheel connecting technology,
products, users, and real-world data, we aim to scale our AI business and create sustainable, long-term value for our stakeholders.”
1
Ms.
Chengfang Lu, Acting CFO of SOGP, said, “Our financial results remained robust in the first half of 2026, supported by the disciplined
execution of our dual-engine growth strategy. Net revenues increased by 25% year-over-year, with gross profit and operating income up
32% and 88%, respectively. Gross margin expanded to 31%, up from 29% in the prior-year period. These results demonstrate the resilience
of our business model and our sustained focus on operational efficiency.
Our
value-added services business continued to serve as a solid revenue foundation, while subscription revenues grew by 245% year-over-year,
driven by the further expansion of our AI applications portfolio. We are encouraged by the growing contribution from our AI business
and see meaningful upside potential as it scales.
Going
forward, we will maintain a disciplined approach to resource allocation and cost management, while making strategic investments in AI
technology and product innovation. Supported by our solid financial position, we will continue to pursue sustainable growth and create
long-term value for our shareholders.”
First
Half 2026 Unaudited Financial Results
Net
revenues
were RMB1,690.6 million (US$249.2 million) for the six months ended June 30, 2026, representing a 25% increase from RMB1,357.7
million for the same period of 2025, primarily due to (i) growth in our value-added services, supported by more diversified audio content
offering, and (ii) increased revenue from our subscription services, driven by the continued expansion of our AI applications portfolio.
Cost
of revenues
were RMB1,174.5 million (US$173.1 million) for the six months ended June 30, 2026, representing a 22% increase from RMB965.6
million for the same period of 2025. The increase was mainly attributable to (i) an increase in revenue sharing-fees for content creators
which grew in line with net revenues, (ii) increased payment handling costs, (iii) increased salary and welfare benefits expenses, and
(iv) increased other miscellaneous expenses.
Gross
profit
was RMB516.1 million (US$76.1 million) for the six months ended June 30, 2026, representing a 32% increase from RMB392.1 million
for the same period of 2025.
Non-GAAP
gross profit
1
was RMB516.3 million (US$76.1 million) for the six months ended June 30, 2026, representing a 32% increase
from RMB392.3 million for the same period of 2025.
Gross
margin
was 31% for the six months ended June 30, 2026, compared with 29% for the same period of 2025.
Non-GAAP
gross margin
was 31% for the six months ended June 30, 2026, compared with 29% for the same period of 2025.
1
Non-GAAP gross profit is a non-GAAP financial measure, which is defined as gross profit excluding share-based compensation expenses.
This adjustment amounted to RMB0.2 million (US$0.0 million) and RMB0.2 million for the six months ended June 30, 2026 and 2025, respectively.
Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.
2
Operating
expenses
were RMB397.3 million (US$58.6 million) for the six months ended June 30, 2026, representing a 21% increase from RMB328.9
million for the same period of 2025. In line with its long-term development strategy, the Company increased its investments during the
first half of 2026 to advance its AI technologies, accelerate product innovation and support global user growth. The Company will continue
to dynamically adjust its resource allocation based on its strategic priorities, business performance and market conditions, while maintaining
a disciplined approach to cost management.
Research
and development expenses
were RMB127.2 million (US$18.7 million) for the six months ended June 30, 2026, representing a 5% increase
from RMB121.4 million for the same period of 2025, primarily due to increased salary and welfare benefits expenses, which were partially
offset by decreases in (i) share-based compensation expenses and (ii) expenses related to research and development services provided
by third parties.
Selling
and marketing expenses
were RMB225.4 million (US$33.2 million) for the six months ended June 30, 2026, representing a 47% increase
from RMB153.4 million for the same period of 2025, primarily attributable to increases in (i) branding and marketing expenses and (ii)
salary and welfare benefits expenses.
General
and administrative expenses
were RMB44.8 million (US$6.6 million) for the six months ended June 30, 2026, compared to RMB54.1 million
for the same period of 2025, mainly driven by decreases in (i) salary and welfare benefits expenses, (ii) professional service fees,
and (iii) other miscellaneous expenses.
Operating
income
was RMB118.8 million (US$17.5 million) for the six months ended June 30, 2026, representing an 88% increase from RMB63.2 million
for the same period of 2025.
Non-GAAP
operating income
2
was RMB119.7 million (US$17.6 million) for the six months ended June 30, 2026, representing an 81%
increase from RMB65.9 million for the same period of 2025.
Net
income
was RMB120.5 million (US$17.8 million) for the six months ended June 30, 2026, representing a 78% increase from RMB67.6 million
for the same period of 2025.
Non-GAAP
net income
3
was RMB121.4 million (US$17.9 million) for the six months ended June 30, 2026, representing a 73% increase
from RMB70.4 million for the same period of 2025.
Net
income attributable to Sound Group Inc.’s ordinary shareholders
was RMB123.5 million (US$18.2 million) for the six months ended
June 30, 2026, representing a 75% increase from RMB70.5 million for the same period of 2025.
Non-GAAP
net income attributable to Sound Group Inc.’s ordinary shareholders
4
was RMB124.4 million (US$18.3 million) for
the six months ended June 30, 2026, representing a 70% increase from RMB73.3 million for the same period of 2025.
Basic
and diluted net income per ADS
5
were RMB29.08 and RMB28.96 (US$4.29 and US$4.27), respectively, for the six months ended
June 30, 2026, representing 112% and 111% increases from RMB13.73 for both basic and diluted net income per ADS for the same period of
2025, respectively.
Non-GAAP
basic and diluted net income per ADS
6
were RMB29.29 and RMB29.17 (US$4.32 and US$4.30), respectively, for the six months
ended June 30, 2026, representing 105% and 104% increases from RMB14.28 for both non-GAAP basic and diluted net income per ADS for the
same period of 2025, respectively.
Balance
Sheet
As
of June 30, 2026, the Company had cash and cash equivalents and restricted cash of RMB727.6 million (US$107.2 million).
2
Non-GAAP operating income is a non-GAAP financial measure, which is defined as operating income excluding share-based compensation expenses.
This adjustment amounted to RMB0.9 million (US$0.1 million) and RMB2.8 million for the six months ended June 30, 2026 and 2025, respectively.
Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.
3
Non-GAAP
net income is a non-GAAP financial measure, which is defined as net income excluding share-based compensation expenses. These
adjustments amounted to RMB0.9 million (US$0.1 million) and RMB2.8 million for the six months ended June 30, 2026 and 2025,
respectively. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for
details.
4
Non-GAAP net income attributable to Sound Group Inc.’s ordinary shareholders is a non-GAAP financial measure, which is defined
as net income attributable to Sound Group Inc.’s ordinary shareholders, excluding share-based compensation expenses. These adjustments
amounted to RMB0.9 million (US$0.1 million) and RMB2.8 million for the six months ended June 30, 2026 and 2025, respectively. Please
refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.
5
ADS refers to American Depositary Share. Each ADS represents two hundred Class A ordinary shares of the Company. Basic and diluted net
income per ADS is net income attributable to Sound Group Inc.’s ordinary shareholders divided by the weighted average number of
ADS.
6
Non-GAAP basic and diluted net income per ADS is a non-GAAP financial measure, which is defined as non-GAAP net income attributable to
Sound Group Inc.’s ordinary shareholders divided by the weighted average number of ADS used in the calculation of basic and diluted
net income per ADS.
3
About
Sound Group Inc.
Sound
Group Inc. (NASDAQ: SOGP) is a global AI-powered audio company on a mission to help people connect better and live happier. Leveraging
its voice AI technologies and deep expertise in audio interaction, Sound Group is building a diverse ecosystem of intelligent audio products
that cater to a global user base. By integrating technology, innovative products, and real-world data within a user-centric ecosystem,
the Company generates a powerful growth flywheel that is driving continuous innovation and accelerating its global expansion. Sound Group
Inc. has been listed on Nasdaq since January 2020.
For
more information, please visit:
https://ir.soundgroupinc.com/
Use
of Non-GAAP Financial Measures
The
unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the
United States of America (“U.S. GAAP”).
SOGP
uses non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss/income, non-GAAP net loss/income, non-GAAP net loss/income
attributable to Sound Group Inc.’s ordinary shareholders and non-GAAP basic and diluted net loss/income per ADS, which are non-GAAP
financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses. Non-GAAP gross margin is non-GAAP
gross profit as a percentage of net revenues. Non-GAAP operating loss/income is operating loss/income excluding share-based compensation
expenses. Non-GAAP net loss/income is net loss/income, excluding share-based compensation expenses. Non-GAAP net loss/income attributable
to Sound Group Inc.’s ordinary shareholders is net loss/income attributable to Sound Group Inc.’s ordinary shareholders,
excluding share-based compensation expenses. Non-GAAP basic and diluted net loss/income per ADS is non-GAAP net loss/income attributable
to Sound Group Inc.’s ordinary shareholders divided by the weighted average number of ADS used in the calculation of basic and
diluted net loss/income per ADS. The Company believes that separate analysis and exclusion of the non-cash impact of the above reconciling
item adds clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP
financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning,
forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information
for investors and analysts to assess its operating performance without the non-cash effect of share-based compensation expenses.
However,
the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial
measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP
financial measures are not measured in the same manner by all companies, they may not be comparable to other similarly titled measures
used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures in isolation from,
superior to, or as an alternative to the financial measure prepared in accordance with U.S. GAAP.
The
presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial
information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see
the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” near the end of this release.
4
Exchange
Rate Information
This
announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader.
Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.7851 to US$1.00,
the exchange rate on June 30, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation
that the RMB or U.S. dollars amounts referred could be converted into U.S. dollar or RMB, as the case may be, at any particular rate
or at all.
Safe
Harbor Statement
This
press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s
beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and 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: the Company’s goals and strategies; the Company’s future business development, results of operations
and financial condition; the expected growth of the online audio market; the expectation regarding the rate at which to gain active users,
especially paying users; the Company’s ability to monetize the user base; fluctuations in general economic and business conditions
in China and overseas markets; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and
assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases
such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors
is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is
as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under
applicable law.
For
investor and media inquiries, please contact:
Sound
Group Inc.
IR
Department
E-mail:
ir@soundgroupinc.com
Christensen
Advisory
E-mail:
soundgroup@christensencomms.com
5
Sound
Group Inc.
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(All
amounts in thousands, except for share, ADS, per share data and per ADS data)
December 31,
2025
June
30,
2026
June 30,
2026
RMB
RMB
US$
ASSETS
Current assets
Cash and cash equivalents
655,058
721,118
106,280
Restricted cash
4,844
6,465
953
Accounts receivable, net
972
-
-
Prepayments and other current assets
49,683
52,708
7,768
Total current assets
710,557
780,291
115,001
Non-current assets
Property, equipment and leasehold improvement, net
12,070
10,141
1,495
Intangible assets, net
879
601
89
Investment in Equity Securities
-
6,000
884
Deferred tax assets
-
85
13
Right-of-use assets, net
23,572
21,950
3,235
Other non-current assets
2,536
5,157
760
Total non-current assets
39,057
43,934
6,476
TOTAL ASSETS
749,614
824,225
121,477
LIABILITIES
Current liabilities
Accounts payable
58,751
66,403
9,787
Deferred revenue
38,240
37,998
5,600
Salary and welfare payable
176,216
145,870
21,499
Taxes payable
9,203
7,136
1,052
Short-term loans
-
-
-
Lease liabilities due within one year
14,619
14,115
2,080
Accrued expenses and other current liabilities
68,327
86,323
12,724
Total current liabilities
365,356
357,845
52,742
Non-current liabilities
Lease liabilities
9,962
8,536
1,258
Deferred tax liabilities
-
9
1
Total non-current liabilities
9,962
8,545
1,259
TOTAL LIABILITIES
375,318
366,390
54,001
6
Sound
Group Inc.
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All
amounts in thousands, except for share, ADS, per share data and per ADS data)
December 31,
2025
June 30,
2026
June 30,
2026
RMB
RMB
US$
SHAREHOLDERS’ EQUITY
Class A Ordinary shares (US$0.0001 par value; 1,268,785,000 shares authorized, 648,711,860 shares issued and 602,098,350 shares outstanding as of December 31, 2025; 1,268,785,000 shares authorized, 648,711,860 shares issued and 606,557,350 shares outstanding as of June 30, 2026).
422
422
62
Class B Ordinary shares (US$0.0001 par value, 231,215,000 shares authorized, issued and outstanding as of December 31, 2025 and June 30, 2026, respectively).
168
168
25
Treasury stock
(10,156
)
(4,787
)
(706
)
Additional paid in capital
2,678,350
2,673,585
394,038
Statutory reserves
14,392
14,392
2,121
Accumulated deficit
(2,314,891
)
(2,225,273
)
(327,965
)
Accumulated other comprehensive income
32,777
28,972
4,270
TOTAL SOGP Inc.’s shareholders’ equity
401,062
487,479
71,845
Non-controlling interests
(26,766
)
(29,644
)
(4,369
)
TOTAL SHAREHOLDERS’ EQUITY
374,296
457,835
67,476
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
749,614
824,225
121,477
7
Sound
Group Inc.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All
amounts in thousands, except for share, ADS, per share data and per ADS data)
Six Months Ended
June 30,
2025
December 31,
2025
June 30,
2026
June 30,
2026
RMB
RMB
RMB
US$
Net revenues
Value-added services
1,341,392
1,715,034
1,634,521
240,899
Subscription and others
16,282
30,046
56,128
8,272
Total net revenues
1,357,674
1,745,080
1,690,649
249,171
Cost of revenues
(1)
(965,618
)
(1,231,977
)
(1,174,531
)
(173,104
)
Gross profit
392,056
513,103
516,118
76,067
Operating expenses
(1)
Selling and marketing expenses
(153,390
)
(194,300
)
(225,372
)
(33,216
)
General and administrative expenses
(54,119
)
(46,135
)
(44,788
)
(6,601
)
Research and development expenses
(121,390
)
(118,823
)
(127,177
)
(18,744
)
Total operating expenses
(328,899
)
(359,258
)
(397,337
)
(58,561
)
Operating income
63,157
153,845
118,781
17,506
Interest expense
(28
)
-
-
-
Foreign exchange gains/(losses)
573
(1,595
)
(438
)
(65
)
Interest income and investment income
3,519
3,750
2,853
420
Government grants
2,175
120
1,538
227
Others, net
(653
)
(1,433
)
(1,516
)
(223
)
Income before income taxes
68,743
154,687
121,218
17,865
Income tax expenses
(1,158
)
(1,623
)
(669
)
(99
)
Net income
67,585
153,064
120,549
17,766
Net loss attributable to the non-controlling interests shareholders
2,957
2,876
2,986
440
Net income attributable to Sound Group Inc.’s ordinary shareholders
70,542
155,940
123,535
18,206
8
Sound
Group Inc.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All
amounts in thousands, except for share, ADS, per share data and per ADS data)
Six Months Ended
June 30,
2025
December 31,
2025
June 30,
2026
June 30,
2026
RMB
RMB
RMB
US$
Net income
67,585
153,064
120,549
17,766
Other comprehensive income/(loss):
Foreign currency translation adjustments
6,771
(3,746
)
(3,697
)
(545
)
Total comprehensive income
74,356
149,318
116,852
17,221
Comprehensive loss attributable to non-controlling interests shareholders
2,945
2,837
2,878
424
Comprehensive income attributable to Sound Group Inc.’s ordinary shareholders
77,301
152,155
119,730
17,645
Net income attributable to Sound Group Inc.’s ordinary shareholders per share
—Basic
0.07
0.17
0.15
0.02
—Diluted
0.07
0.17
0.14
0.02
Weighted average number of ordinary shares
—Basic
1,027,216,172
940,749,734
849,621,986
849,621,986
—Diluted
1,027,216,172
943,559,133
853,060,701
853,060,701
Net income attributable to Sound Group Inc.’s ordinary shareholders per ADS
—Basic
13.73
33.15
29.08
4.29
—Diluted
13.73
33.05
28.96
4.27
Weighted average number of ADS
—Basic
5,136,081
4,703,749
4,248,110
4,248,110
—Diluted
5,136,081
4,717,796
4,265,304
4,265,304
9
Sound
Group Inc.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All
amounts in thousands, except for share, ADS, per share data and per ADS data)
(1)
Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Six Months Ended
June
30,
2025
December
31,
2025
June
30,
2026
June
30,
2026
RMB
RMB
RMB
US$
Cost of revenues
237
319
204
30
Selling and marketing expenses
59
-
-
-
General and administrative expenses
236
238
227
33
Research and development expenses
2,247
1,182
455
67
Total
2,779
1,739
886
130
10
Sound
Group Inc.
UNAUDITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All
amounts in thousands, except for share, ADS, per share data and per ADS data)
Six Months Ended
June 30,
2025
December 31,
2025
June 30,
2026
June 30,
2026
RMB
RMB
RMB
US$
Gross profit
392,056
513,103
516,118
76,067
Share-based compensation expenses
237
319
204
30
Non-GAAP gross profit
392,293
513,422
516,322
76,097
Operating income
63,157
153,845
118,781
17,506
Share-based compensation expenses
2,779
1,739
886
130
Non-GAAP operating income
65,936
155,584
119,667
17,636
Net income
67,585
153,064
120,549
17,766
Share-based compensation expenses
2,779
1,739
886
130
Non-GAAP net income
70,364
154,803
121,435
17,896
Net income attributable to Sound Group Inc.’s ordinary shareholders
70,542
155,940
123,535
18,206
Share-based compensation expenses
2,779
1,739
886
130
Non-GAAP net income attributable to Sound Group Inc.’s ordinary shareholders
73,321
157,679
124,421
18,336
Non-GAAP net income attributable to Sound Group Inc.’s ordinary shareholders per share
—Basic
0.07
0.17
0.15
0.02
—Diluted
0.07
0.17
0.15
0.02
Weighted average number of ordinary shares
—Basic
1,027,216,172
940,749,734
849,621,986
849,621,986
—Diluted
1,027,216,172
943,559,133
853,060,701
853,060,701
Non-GAAP net income attributable to Sound Group Inc.’s ordinary shareholders per ADS
—Basic
14.28
33.52
29.29
4.32
—Diluted
14.28
33.42
29.17
4.30
Weighted average number of ADS
—Basic
5,136,081
4,703,749
4,248,110
4,248,110
—Diluted
5,136,081
4,717,796
4,265,304
4,265,304
11