Jiangxi Wannianqing Cement Co Ltd

Wannianqing released its 2026 interim report. The company's total operating revenue was 1.663 billion yuan, down 24.80% year-on-year. Net profit attributable to the parent company was a loss of 48.31 million yuan, swinging from profit to loss year-on-year, a decline of 218.49%. Net cash flow from operating activities was a negative 24.50 million yuan, down 112.07% year-on-year. The company's asset-liability ratio was 28.86%, gross margin was 15.97%, return on equity was negative 0.77%, and diluted earnings per share was negative 0.06 yuan.

Wannianqing disclosed its earnings forecast, expecting a net loss attributable to shareholders of 40 million to 55 million yuan in the first half of 2026, compared with a profit of 40.7708 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 50 million to 65 million yuan, compared with a profit of 769,100 yuan a year earlier. The company stated that due to insufficient investment in real estate and infrastructure, the supply-demand contradiction for cement in the region has intensified, with both cement sales volume and prices declining year-on-year. Cost reductions were insufficient to offset the price drop, leading to the loss. The larger decline in net profit after deducting non-recurring items was also due to the recognition of asset disposal gains of 45.29 million yuan in the same period last year.