Jinguan Shares released its 2026 interim report on August 27. Affected by a sharp drop in smart meter business orders and intensifying competition in the energy storage industry, the company's revenue and net profit both declined, and operating cash flow turned from positive to negative. During the reporting period, the company achieved operating revenue of 380 million yuan, down 21.93 percent year on year. Net profit attributable to the parent company was negative 72.96 million yuan, with the loss widening 71.22 percent year on year. Net profit after deducting non-recurring items was negative 81.24 million yuan, with the loss deepening further. Net cash flow from operating activities was negative 90.27 million yuan, a sharp deterioration from the net inflow of 92.78 million yuan in the same period last year, mainly due to a decline in sales collections. In terms of business structure, revenue from smart meters and electricity consumption information collection systems was only 44.38 million yuan, plunging 67.71 percent year on year, with gross margin falling to 7.55 percent, making it the core reason for the overall revenue decline. Meanwhile, revenue from the high and low voltage complete switchgear business reached 97.83 million yuan, up 15.63 percent year on year, with gross margin rising 11.26 percentage points to 29.55 percent, becoming an important force supporting revenue. In addition, the company's short-term borrowings increased significantly to 254 million yuan, raising financial leverage. Going forward, attention should be paid to the pace of State Grid tender recovery, the sustainability of switchgear orders, and the improvement in cash flow.
Jilin Jinguan Electric Co Ltd Class ARevenue and net profit both declined, with net loss widening 71.22% YoY and operating cash flow turning negative.
