Here shares surge 12.39% premarket after Q1 revenue jumps 93.3% and gross margin expands to 41.2%.

Here Group surged 12.39% in premarket trading following the release of unaudited Q1 FY2026 results, which showed a 93.3% quarter-over-quarter revenue increase to RMB127.1 million and a gross margin expansion to 41.2% from 34.7%. The company, rebranded from QuantaSing, highlighted a strategic shift to a pure-play pop toy model post-disposal of its Established Business, alongside a US$20 million share repurchase program. Management emphasized strong growth drivers, including IP monetization, omnichannel expansion, and improved operational efficiency, while reaffirming a full-year revenue guidance of RMB750–800 million. The positive earnings report, coupled with a Q2 revenue outlook of RMB150–160 million, reinforced investor confidence in the company’s transformation and long-term growth potential. Unrelated news, such as a prior month’s 30% share price decline or local Tameside media references, did not impact the stock’s premarket trajectory.