Yifeng Achieves EPS of 10.37 Yuan in First Half of 2026, Highlights Non-North American Market Growth

Yifeng (8464-TW), a leading curtain manufacturer, announced its financial results for the second quarter of 2026 on December 12. The company reported a net profit of 13.91 billion yuan (down 15.57% quarter-on-quarter, up 20.67% year-on-year), with earnings per share (EPS) of 4.75 yuan. For the first half of the year, the net profit was 30.38 billion yuan (up 3.66% year-on-year), with EPS of 10.37 yuan. Yifeng expects high single-digit growth in non-North American custom curtains.

Yifeng's revenue for the second quarter of 2026 was 79.28 billion yuan, with a gross margin of 59.95% (up 0.86 percentage points quarter-on-quarter, up 0.72 percentage points year-on-year). For the first half of the year, revenue was 152.33 billion yuan, with a gross margin up 0.8 percentage points year-on-year.

Yifeng noted that non-North American custom curtains showed the strongest growth in the second quarter, with the European market up 16.9%, driven by Denmark and Belgium. The North American market, affected by the overall economic environment, performed weakly but benefited from price increases and tariff reductions. Overall gross profit reached a new high, and Yifeng invited key customers to visit the curtain factory, offering a real-life experience through 'NORMAN Experiences' to deepen cooperation.

Yifeng emphasized that the company's core value lies in its curtain brand and distribution services. By the end of 2025, custom curtains covered approximately 1,600 counties in the U.S. (51% of the total 3,200+ counties), up from 38% a decade ago. The company believes that expanding service locations is a key driver of long-term growth. Global brand showrooms have increased to 17, with new showrooms in Chicago, Nagoya, and Fukuoka added in the first half of 2026. Other service locations are also being actively evaluated.

Looking ahead, Yifeng expects mid single-digit growth in North American custom curtains, high single-digit growth in non-North American (international) custom curtains, and low single-digit growth in fixed-size curtains. The non-North American custom curtain market will continue to benefit from new markets in Denmark and Belgium, with Japan and Australia also expected to add momentum. Additionally, with the start of production at the new factory in Vietnam, expansion in Mexico, and the recognition of U.S. tax credits, operating momentum is expected to further strengthen in the second half of the year.