Xiangyang Automobile Bearing Co Ltd

Xiangyang Automobile Bearing disclosed its 2026 semi-annual report on August 27. In the first half of the year, it achieved total operating revenue of 703 million yuan, down 11.66 percent year on year. Net profit attributable to the parent company was a loss of 20.61 million yuan, compared with a loss of 15.53 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 21.22 million yuan, compared with a loss of 21.88 million yuan a year earlier. Net cash flow from operating activities was negative 14.24 million yuan, compared with 101 million yuan in the same period last year. Basic earnings per share were negative 0.04 yuan, and the weighted average return on equity was negative 2.54 percent. The company is mainly engaged in the production, research, sales and related business of bearings and their components.

Xiangyang Automobile Bearing disclosed its earnings forecast, expecting a net loss attributable to the parent company of 24.5 million yuan in the first half of 2026, compared with a loss of 15.5302 million yuan in the same period last year. The net loss after deducting non-recurring items is 36.18 million yuan, compared with a loss of 21.8829 million yuan in the same period last year, with basic earnings per share of negative 0.06 yuan. The company stated that the loss was mainly caused by the decline in performance of domestic companies and the continued losses of overseas subsidiaries. The decline in sales of major domestic passenger car customers led to shrinking demand, resulting in a year-on-year decline in operating revenue and profit. The overseas factory in Poland continued to suffer losses due to geopolitical factors. The company has dispatched domestic personnel to the Polish factory to fully take over management, promote cost reduction and efficiency improvement measures, and actively expand the market to improve the operating situation.