Qingdao Kingking Expects First-Half 2026 Net Profit to Drop by Up to 100% Year-on-Year

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Qingdao Kingking disclosed its earnings forecast, expecting a net profit attributable to the parent company of zero to 10 million yuan for the first half of 2026, a year-on-year decline of 76.84% to 100%. The company said the decline was mainly due to a surge in crude oil prices caused by changes in the international situation in the second quarter, which led to a sharp rise in the price of paraffin wax, its main raw material. At the same time, the depreciation of the US dollar against the renminbi resulted in significant exchange losses.

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