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Tibet Galaxy Science & Technology Development Co Ltd

Tibet Development Co., Ltd. produces and sells beer in China, offering bottled and canned beer under the Lhasa Beer brand. The company was formerly known as Tibet Galaxy Science & Technology Development Co., Ltd. and changed its name to Tibet Development Co., Ltd. in November 2020. Founded in 1997, it is headquartered in Chengdu, China.

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ST Xifa first-half 2026 net profit 22.18 million yuan, down 14.66% year on year

ST Xifa released its 2026 interim report. For the six months ended June 30, 2026, the company achieved total operating revenue of 200 million yuan, and net profit attributable to the parent company of 22.18 million yuan, a decrease of 3.81 million yuan from the same period last year, down 14.66% year on year. Net cash inflow from operating activities was 70.36 million yuan. The asset-liability ratio was 18.70%, up 0.34 percentage points from the previous quarter. Gross margin was 40.88%, down 0.63 percentage points from the previous quarter and down 1.35 percentage points from the same period last year. Diluted earnings per share were 0.08 yuan, down 14.62% from the same period last year. Total asset turnover was 0.14 times, down 20.29% from the same period last year. Inventory turnover was 3.89 times. The number of shareholders was 15,700, and the top ten shareholders held 73.53 million shares, accounting for 27.88% of total share capital.
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*ST Xifa completes industrial and commercial registration change for Lhasa Beer equity, restructuring still carries delisting risk

*ST Xifa announced that Lhasa Beer has completed industrial and commercial registration changes including shareholder change, and industrial and commercial information shows that Tibet Development holds 100% of its equity. As of the announcement date, the equity transaction price has not yet been paid, and procedures such as tax withholding and remittance and payment of the transaction price to Carlsberg International still need to be completed. Because the company has been ruled to accept restructuring, its shares have been subject to a delisting risk warning since April 28, 2026. If the restructuring fails and the company is declared bankrupt, it will face the risk of being terminated from listing. Currently, *ST Xifa is in a critical period of restructuring. On August 5, Carlsberg International withdrew its appeal, which involved requesting the court to order Tibet Development to return 95 million yuan in dividends to Lhasa Beer and pay 95 million yuan in capital occupation fees. At the same time, Tibet Development reached a mediation with Carlsberg International and Tibet Daohe Industrial Co., Ltd., and the regulatory account funds previously frozen by the court due to the purchase of 50% equity of Lhasa Beer were successfully unfrozen.
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