Yuanjie Technology Q1-Q3 2026 Net Profit Up 866.88% to RMB 1.024B

The scale of the margin expansion, not just the revenue jump, is the real signal here: a lower expense ratio alongside higher gross margins suggests the data center business is scaling with operating leverage rather than being bought with spending. That distinction matters for anyone tracking whether AI infrastructure demand is translating into durable earnings across the supply chain, not just top-line bookings. The open question is whether this margin profile holds as the data center segment grows further, or whether it reflects a mix shift that is difficult to sustain.