China Wuyi Co Ltd

China Wu Yi released its 2026 interim report. Affected by provisions for inventory write-downs in real estate and increased foreign exchange losses, the net loss attributable to the parent widened to 440 million yuan, an increase of 347 million yuan compared with the same period last year. During the reporting period, the company achieved operating revenue of 1.692 billion yuan, up 7.03 percent year on year. Of this, revenue from real estate development was 775 million yuan, up 96.09 percent, and revenue from international engineering contracting was 580 million yuan, up 12.06 percent. Total newly signed overseas contracts reached 1.342 billion yuan, up 50.28 percent year on year, as the business structure continued to improve. The wider loss was mainly due to an inventory write-down provision of about 215 million yuan, a 218.45 percent year-on-year increase in financial expenses to 178 million yuan, and higher credit impairment losses caused by slower-than-expected collections on certain overseas projects.

China Wuyi disclosed an earnings forecast, expecting a net loss attributable to the parent company of 400 million to 500 million yuan in the first half of 2026, compared with a loss of 92.9956 million yuan in the same period last year, with the loss widening year-on-year. The net loss after deducting non-recurring items is expected to be 403 million to 503 million yuan, compared with a loss of 97.5712 million yuan in the same period last year. The company said the widening loss was mainly due to a decline in sales prices of some real estate projects, leading to additional provisions for inventory impairment, as well as a decrease in projects under construction that meet the conditions for interest capitalization and exchange rate fluctuations, which increased financial expenses year-on-year.