Sichuan Meifeng Chemical Industry Co Ltd

Sichuan Meifeng released its 2026 interim report, with net profit attributable to the parent company at negative 53.45 million yuan, swinging from profit to loss year on year. Total operating revenue was 1.891 billion yuan, up 1.72 percent year on year, but net profit attributable to the parent company fell by 61.48 million yuan compared with the same period last year, a year-on-year decline of 765.57 percent. Net cash flow from operating activities was negative 259 million yuan, a decrease of 96.58 million yuan from the same period last year. The company's latest asset-liability ratio was 13.10 percent, gross margin was 8.35 percent, and diluted earnings per share was negative 0.10 yuan.

Sichuan Meifeng Chemical announced that its subsidiary, Sichuan Meifeng Chemical Technology, will soon carry out routine annual maintenance on its production facilities, with the maintenance and shutdown period expected to last about one month. This maintenance is a routine procedure based on the annual production plan and is expected to affect melamine output by approximately 4,700 tonnes, compound fertilizer output by about 17,500 tonnes, and ammonium nitrate output by around 20,000 tonnes.

Sichuan Meifeng and Wisesoft disclosed their 2026 half-year performance forecasts on the same day, with the former swinging to a loss and the latter narrowing its loss year-on-year. Sichuan Meifeng expects a net loss attributable to shareholders of the listed company of 48 million to 56 million yuan for the first half, compared with a profit of 8.0313 million yuan in the same period last year, mainly due to downward pressure on prices of major products such as urea and ammonium nitrate, while procurement prices of key raw materials like natural gas for production and monoammonium phosphate rose year-on-year. Wisesoft expects a net loss attributable to shareholders of the listed company of 28 million to 32 million yuan for the first half, with the loss narrowing from the same period last year. Its project execution is seasonal, with revenue recognition heavily concentrated in the second half of the year.