Shaanxi Kanghui Pharmaceutical Co., Ltd. researches, develops, produces, and sells pharmaceutical intermediates in China. It also develops and produces traditional Chinese medicine preparations and prepared slices of Chinese medicinal herbs, and distributes biological products, blood products, pharmaceuticals, and traditional Chinese medicine. Its products are used to treat dermatological, respiratory, gynecological, and orthopedic diseases. Founded in 1999, the company is based in Xianyang, China.
Kanghui Co., Ltd. subsidiary signs five-year computing power service contract worth 1.72 billion yuan
Kanghui Co., Ltd. announced on the evening of September 16 that its wholly owned subsidiary Beijing Kanghui Zhichuang recently signed a Computing Power Service Contract with Company A. The total contract value is approximately 1.72 billion yuan including tax, with a contract term of five years. This amount is the total for the five-year period, and Beijing Kanghui Zhichuang will recognize revenue over five years. The contract stipulates that Beijing Kanghui Zhichuang is responsible for procuring high-performance computing servers, networking, storage, and other hardware infrastructure, and will provide Company A with computing resource services meeting agreed performance indicators as well as full-cycle operation and maintenance services. Company A will pay computing power service fees on a monthly basis. The announcement said that if the computing power services under the contract can be delivered on schedule, it is expected to add approximately 30 million yuan in revenue for the company in 2026, while the impact on net profit for 2026 cannot yet be determined. To ensure implementation of the contract, Beijing Kanghui Zhichuang signed a Purchase and Sale Contract for computing servers with Company G, with a total contract value of approximately 1.141 billion yuan including tax. The contract stipulates that full payment for each batch of computing servers must be made within 50 days after delivery. Company G is a controlling subsidiary of a company listed on both the A-share and H-share markets. The announcement also cautioned that the above 1.141 billion yuan in procurement funds will rely mainly on financing from financial institutions in addition to its own funds, and the company faces considerable financial cost pressure.
603139.CG · Demand · Positive Wholly owned subsidiary Beijing Kanghui Zhichuang signed a 1.72 billion yuan five-year computing power service contract, adding ~30 million yuan revenue in 2026.
603139.CG · Capital · Negative The 1.141 billion yuan server procurement relies mainly on financial-institution financing, creating considerable financial cost pressure.
北京康惠智创 · Demand · Positive Beijing Kanghui Zhichuang is the subsidiary that signed the 1.72 billion yuan five-year computing power service contract with Company A.
北京康惠智创 · Capital · Negative It must fund the 1.141 billion yuan server purchase mainly through financing, facing considerable financial cost pressure.
Shanghai Yahong announced that Feike Investment will become the company's controlling shareholder, and trading in its shares will resume from tomorrow. Several companies released important announcements that evening: Jingwei Holdings said China Software Xi'an plans to acquire 29.68% of the company's total share capital at 53 yuan per share, with trading to resume tomorrow; Kanghui's subsidiary signed a 1.72 billion yuan computing power service contract and a 1.141 billion yuan computing power server purchase and sale contract; Henggong Precision plans to issue convertible bonds of no more than 810 million yuan for projects including embodied intelligent robots; Ruifeng Polymer Materials plans to acquire a 68.065% stake in Mitop New Materials for 499 million yuan; Sany Heavy Industry repurchased 16.6206 million shares today, paying 299 million yuan. In addition, Shanghai RAAS's SR604 injection has entered Phase III clinical trials, and no product targeting the same receptor as this drug has been launched globally; Hwatsing Technology has completed its share repurchase, with a cumulative repurchase amount of 60.2245 million yuan.
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603159.CG · Capital · Positive Feike Investment will become Shanghai Yahong's controlling shareholder, a change-of-control event, and trading resumes tomorrow.
002252.CS · Technology · Positive Shanghai RAAS's SR604 injection has entered Phase III clinical trials, with no same-receptor product launched globally.
300243.CS · Capital · Positive Ruifeng Polymer Materials plans to acquire a 68.065% stake in Mitop New Materials for 499 million yuan.
301261.CS · Capital · Positive Henggong Precision plans to issue convertible bonds of no more than 810 million yuan for projects including embodied intelligent robots.
600031.CG · Capital · Positive Sany Heavy Industry repurchased 16.6206 million shares for 299 million yuan, a buyback that is positive for the stock.
603139.CG · Demand · Positive Kanghui's subsidiary signed a 1.72 billion yuan computing power service contract and a 1.141 billion yuan server purchase/sale contract.
Kanghui Co. Subsidiary Signs 1.72 Billion Yuan Computing Power Deal; Accelink Technologies Sees 253 Million Yuan Net Institutional Buying
Kanghui Co.'s wholly owned subsidiary Beijing Kanghui Zhichuang signed a Computing Power Service Contract with Client Company A, with a total contract value of approximately 1.72 billion yuan including tax, for a term of five years. Computing power delivery will be implemented in batches from the end of the third quarter of 2026 through the end of the first quarter of 2027. Trading disclosure data from September 16 shows Accelink Technologies saw net institutional buying of 253 million yuan, accounting for 3.42 percent of total turnover. Luozhou Co. saw net institutional buying of 44.4196 million yuan, accounting for 6.03 percent of total turnover. Huawei disclosed that its next-generation Ascend supernode will soon be officially launched, targeting large-scale data center construction, trillion-parameter large model training, and high-concurrency inference scenarios. According to media reports, Japan's JSR, Tokyo Ohka Kogyo, Shin-Etsu Chemical, and others announced that starting October 1, 2026, new pricing for photoresist for global customers will be raised by 15 percent overall, with high-end ArF series long-term contract quotes raised by 16 to 22 percent, and HBM-specific immersion ArF raised by up to 24 percent. In addition, Deye Co. plans to repurchase shares for 100 million to 200 million yuan, with a repurchase price not exceeding 133 yuan per share. Henggong Precision plans to issue convertible bonds of no more than 810 million yuan for projects including embodied intelligent robots.
301261.CS · Capital · Positive Henggong Precision plans to issue up to 810 million yuan of convertible bonds for embodied intelligent robot projects.
4186.JP · Pricing · Positive Tokyo Ohka Kogyo is among the Japanese firms raising photoresist prices 15% overall from October 1, 2026, with high-end ArF up 16-22%.
603139.CG · Demand · Positive Wholly owned subsidiary Beijing Kanghui Zhichuang signed a 1.72 billion yuan computing power service contract with a client for five years.
605117.CG · Capital · Positive Deye plans to repurchase shares for 100-200 million yuan at up to 133 yuan per share.
4063.JP · Pricing · Positive Shin-Etsu is among the Japanese makers raising photoresist prices 15% overall from Oct 1, 2026, with high-end ArF up 16-22% and HBM immersion ArF up to 24%.
Huawei · Technology · Positive Huawei disclosed its next-generation Ascend supernode will soon launch, targeting large-scale data centers, trillion-parameter model training, and high-concurrency inference.
Kanghui Shares Reports Net Profit of 9.0925 Million Yuan in 2026 Interim Report
Kanghui Shares released its 2026 interim report, with total operating revenue of 205 million yuan, down 17.05 percent year on year, and net profit attributable to the parent of 9.0925 million yuan. Net cash inflow from operating activities was 10.2894 million yuan, the asset-liability ratio was 69.06 percent, gross margin was 35.48 percent, return on equity was 1.70 percent, and diluted earnings per share was 0.09 yuan. The company had 8,318 shareholders, and the top ten shareholders held 55.83 percent of total share capital.
Kanghui Shares to Transfer 51% Stake in Chunsheng Pharmaceutical for 64 Million Yuan
Kanghui Shares announced that it plans to transfer its 51% stake in controlling subsidiary Sichuan Chunsheng Pharmaceutical by agreement, with a transaction price of 64 million yuan. The company acquired the 51% stake in Chunsheng Pharmaceutical in 2023 by subscribing to its private placement for 56.7953 million yuan. After this transfer is completed, the listed company will no longer hold any equity in Chunsheng Pharmaceutical, and the target company will no longer be included in the consolidated financial statements. The buyer is Beijing Qishuyuan Technology, controlled by Luo Yuxuan, son of Chunsheng Pharmaceutical's original actual controller Luo Chunming. After the transaction, the actual controller of Chunsheng Pharmaceutical will change to Luo Yuxuan and Luo Chunming. Chunsheng Pharmaceutical had failed to meet performance commitments for several consecutive years. Its net profit after deducting non-recurring items, whichever is lower, was 452,400 yuan from April to December 2023, 5.2673 million yuan in 2024, and negative 36.7035 million yuan in 2025, far below the agreed targets. Performance compensation and share repurchase conditions have been triggered, but the original actual controllers Luo Chunming and Yin Nianjuan lack funds and are unable to fulfill the compensation and repurchase obligations. The transaction price is rounded to 64 million yuan based on principal plus interest at the five-year-plus loan prime rate of 3.5%, representing an increase of about 12.69% over the original investment principal, and is not lower than the target company's net assets attributable to the parent of 54.8488 million yuan at the end of May 2026. The transaction still requires approval by the shareholders' meeting, approval by the National Equities Exchange and Quotations, and completion of share transfer registration. In addition, after the transfer, the original guarantee for the subsidiary's 21.8 million yuan loan will become an external guarantee, with the related party Shiji Technology providing real estate mortgage counter-guarantee.
603139.CG · Capital · Negative Kanghui transfers its 51% stake in Chunsheng at a price only 12.69% above original investment, while Chunsheng missed performance targets and triggered compensation obligations that original controllers cannot fulfill, indicating a loss-making divestiture.
四川春盛药业集团股份有限公司 · Capital · Negative Chunsheng's performance failed to meet commitments, with net profit turning negative in 2025, and it will be delisted from consolidation after the stake transfer.
Kanghui Subsidiary Signs Computing Power Service Contract with Estimated Total Value of 415 Million to 679 Million Yuan
Kanghui's wholly-owned subsidiary, Beijing Kanghui Zhichuang Technology Co., Ltd., has signed a computing power service contract with Company D, with an estimated total contract value ranging from 415 million to 679 million yuan. Under the contract, Beijing Kanghui Zhichuang is responsible for procuring and deploying high-performance computing servers, conducting networking, stress testing, and joint commissioning as required by Company D, and providing full lifecycle operation and maintenance services after acceptance. Company D will pay computing power service fees on a monthly basis. The cooperation period is five years from the actual billing start date, with the first three years as the initial cooperation period and years four to five as the renewal period.
603139.CG · Demand · Positive Subsidiary signs large computing power service contract worth 415-679 million yuan, indicating strong demand for its services.
Kanghui Shares Expects to Turn Loss into Profit in First Half, with Net Profit Attributable to Parent of About 11 Million Yuan
Kanghui Shares released its 2026 semi-annual performance forecast, expecting to achieve a net profit attributable to the parent of around 11 million yuan in the first half, turning loss into profit compared with the same period last year. The company gained non-recurring income of 43.29 million yuan from disposing of some idle assets, which had a significant positive impact on the current period's performance. The wholly-owned subsidiary Beijing Kanghui Zhichuang Technology Co., Ltd. achieved a net profit of about 3.46 million yuan, and the controlling subsidiary Jiangsu Huihe Shuneng Technology Co., Ltd. achieved a net profit of about 2.75 million yuan, both effectively improving the current profitability level.
603139.CG · Capital · Positive Company expects to turn loss into profit with net profit of ~11 million yuan, driven by asset disposal gains and improved subsidiary profitability.
Beijing Kanghui Zhichuang Technology Co., Ltd. · Capital · Positive Wholly-owned subsidiary achieved net profit of ~3.46 million yuan, contributing to parent's turnaround.
江苏汇合数能科技有限公司 · Capital · Positive Controlling subsidiary achieved net profit of ~2.75 million yuan, improving overall profitability.
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