Zhejiang Biyi Electric Appliance Co. Ltd.

Biyi Shares released its 2026 interim report. Total operating revenue was 1.078 billion yuan, down 79.14 million yuan or 6.84 percent from the same period last year. Net profit attributable to the parent company was a loss of 32.57 million yuan, a decline of 86.28 million yuan or 160.64 percent from a year earlier, swinging from profit to loss. Net cash inflow from operating activities was 21.14 million yuan, down 76.16 percent year on year. The company's asset-liability ratio was 56.01 percent, gross margin was 8.02 percent, down 6.34 percentage points from a year earlier, return on equity was negative 1.75 percent, and diluted earnings per share was negative 0.15 yuan. The number of shareholders was 12,400, and the top ten shareholders held 62.30 percent of total share capital.

Biyi Shares disclosed its performance forecast, expecting a net loss attributable to the parent company of 31.7 million to 35.7 million yuan in the first half of 2026, compared with a profit of 53.7122 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 35.6 million to 39.6 million yuan, compared with a profit of 48.8867 million yuan in the same period last year. The company stated that the change in performance is mainly due to the centralized transfer of assets under construction to fixed assets for the Sino-Italian Industrial Park smart kitchen appliance construction project of its wholly-owned subsidiary Ningbo Biyi Technology Company, resulting in a significant increase in new fixed asset depreciation. At the same time, the new production lines in the industrial park have been put into operation, new employees are being trained, and multiple new product categories are undergoing simultaneous trial production, leading to concentrated upfront investment while production capacity has not yet been fully released, resulting in a temporarily low input-output ratio. In addition, exchange losses increased compared with the same period last year, further squeezing profit margins.