ST Guangtang swung to a loss in the first half of 2026, with a net loss attributable to the parent of 16.03 million yuan, down 275.69 percent year on year. The company reported operating revenue of 1.58 billion yuan, up 17.39 percent, but the gross margin on self-produced sugar fell 6.26 percentage points to 9.87 percent, mainly because the average spot price of domestic white sugar kept falling and was down more than 13 percent by the end of June from its 2025 high. Short-term debt repayment capacity is under pressure, with current liabilities exceeding current assets, and net cash flow from operating activities was negative 1.17 billion yuan. ST Guangtang's core business is the production and sale of machine-processed sugar, with customers including major food companies such as Haitian Flavouring and Lee Kum Kee.
Nanning Sugar Industry Co LtdWhite sugar price decline reduces margins, causing loss.
Sugar price decline reflects oversupply, pressuring futures.
