SEOUL, South Korea, Nov. 6, 2026 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has announced its financial results for the third quarter of 2026.
Coway Financial Results
"On top of strong demand for our environmental home appliances, the robust sales of our new product categories have enabled us to maintain a stable growth trajectory in both domestic and overseas markets," said Soontae Kim, Coway's Chief Financial Officer. "By leveraging the ongoing net growth of our domestic rental accounts as well as the rapid progress of our overseas subsidiaries, we are set to secure both the top-line expansion and the overall profitability that will serve as the foundation for solidifying our mid-to-long-term growth."
Coway's reported earnings for the third quarter are as follows:
- Third quarter revenue: KRW 1,426.1 billion (+13.7% YoY)
- Third quarter operating profit: KRW 260.8 billion (+7.3% YoY)
* The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.
On the domestic front, Coway reported a third-quarter revenue of KRW 754.9 billion, representing a 2.0% year-over-year increase. Tailored seasonal promotions drove steady sales across key product categories in the domestic market, including ice water purifiers, beds and massage chairs. Subsequently, the third quarter also saw the volume of new rental sales grow 7.3% year-over-year, and net rental account additions also saw a surge of 26.7% to 214,000. The successful market debut of the company's latest summertime appliances, such as food waste disposers and wall-mounted air conditioners, further bolstered this strong performance.
Meanwhile, Coway's overseas subsidiaries also delivered robust third-quarter results. With a total revenue of KRW 591.8 billion, marking a 26.2% increase year-over-year, Coway subsidiaries in key global markets demonstrated strong sales growth across all product categories, highlighting the company's ever-growing business competitiveness on the international stage.
- Malaysia subsidiary Q3 revenue: KRW 428.0 billion (+21.5% YoY)
- United States subsidiary Q3 revenue: KRW 83.9 billion (+45.8% YoY)
- Thailand subsidiary Q3 revenue: KRW 57.7 billion (+38.0% YoY)
- Indonesia subsidiary Q3 revenue: KRW 16.0 billion (+21.8% YoY)
For additional details about Coway's financial performance, please visit the company's Investor Relations page.
About Coway Co., Ltd.
Established in Korea in 1989, Coway (KRX: 021240), the "Best Life Solution Company," is a leading global innovator dedicated to enhancing everyday life through state-of-the-art environmental home appliances and premium wellness solutions. Renowned for its industry-leading water purifiers, air purifiers, and bidets, Coway expands its premium sleep and wellness brand, BEREX, to advance the global lifestyle sector with smart mattresses and advanced massage chairs. Driven by intensive research and award-winning engineering, Coway continues to accelerate its business across major markets, including Malaysia, the USA, Thailand, China, Indonesia, Vietnam, and Europe. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Coway Announces Financial Results for Q3 FY2026
BEIJING, Nov. 6, 2026 /PRNewswire/ --A news report from China Daily:
The 2026 World Internet Conference Wuzhen Summit concluded on Thursday after a four-day run. Beyond Wuzhen, a profound transformation driven by artificial intelligence is underway in Zhejiang's workshops, laboratories and daily life. Building on years of efforts to deepen the Digital Zhejiang initiative, the province is aiming to become a hub of AI innovation.
In the first eight months, revenue of enterprises above designated size in Zhejiang's core AI industry reached 582.87 billion yuan ($87.2 billion), up 26.9 percent year-on-year. The number of core industry enterprises rose to 2,112, forming a full industry-chain layout spanning chips, large models, intelligent agents and application services.
Computing power is one of the key infrastructure pillars of Zhejiang's AI development. At a sock factory workshop in Zhuji, a designer can generate 20 original patterns within three minutes. In Yiwu, traders rely on an AI computing platform to produce high-definition product images and marketing short videos with a single click.
Powering these AI application scenarios is a province-wide integrated computing network built by China Mobile's Zhejiang branch.
As of the end of September, Zhejiang's total computing power reached 197 EFLOPS (short for ExaFLOPS, a unit of computing performance that quantifies the number of floating-point operations a computer can perform per second), ranking among the highest in the country. Of this, 54 enterprises and institutions in the province received national computing-power vouchers totaling 408 million yuan, accounting for 37 percent of the national total.
"As the Hangzhou and Jiashan intelligent computing centers are put into operation, Zhejiang can achieve millisecond-level access to computing, integrated computing-network scheduling and one-stop security assurance," said Qiu Xiaoyuan, a manager at China Mobile's Zhejiang branch.
Large models are another key factor to the game. With the Qwen and DeepSeek large models iterating continuously, Zhejiang's model ecosystem aims to take the leading position.
In the 2026 government work report of Zhejiang, the province proposed the goal of gaining a leading position in AI development and striving to build a high-quality open-source ecosystem. Open source has been listed as one of the core levers of the province's AI strategy.
Located in Xihu district, Hangzhou, the ModelScope community is among China's largest AI open-source communities. Online, it brings together more than 29 million AI developers and more than 200,000 models worldwide, lowering the threshold for AI-related innovation.
Chen Tianrun, born after 2000, is a doctoral student at Zhejiang University and founder of Moxin Technology, which independently developed MoWorld, a real-time interactive world model built entirely on domestic neural processing units. An NPU is a specialized computer microprocessor designed to mimic the processing function of the human brain.
"The relationship between AI and humans is not about AI replacing humans, but about AI and humans working together to do more to raise productivity," Chen said.
Backed by new production factors such as computing power, models and data, Zhejiang is breaking through its natural-resource constraints to become a trendsetter in innovation.
The Zhejiang provincial government hosted a series of major events during the 2026 WIC Wuzhen Summit, featuring interactive experiences and surprises.
On Monday, at the Light of Internet Expo, a signature event of the WIC Wuzhen Summit, more than 30 embodied-intelligence robots — from companies such as AgiBot, UBTech, Unitree and Zhongke Fifth Era — brought visitors to the world of perceptual intelligence.
Among them, the world's first bipedal humanoid robot capable of playing badminton with humans autonomously became the centerpiece. The robot has also mastered table tennis; the faster the ball travels, the faster it reacts.
The Global Internet Competition of "Straight to Wuzhen" is another highlight event of the WIC Wuzhen Summit. Since registration opened in June, it has attracted 1,347 projects and one-person company entries from 31 countries and regions.
The Digital Economy Industrial Cooperation Conference held on Wednesday was a signature event of the Wuzhen Summit's permanent venue. Over the past three years, annual signings of digital economy industrial projects at the event have each exceeded 100 billion yuan.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Zhejiang aims to be highland of AI innovation
