Jiangsu Fasten Co Ltd

Fasten Group released its 2026 interim report, with total operating revenue of 135 million yuan and net profit attributable to the parent company of negative 27.2022 million yuan, a decrease of 12.1673 million yuan compared with the same period last year, widening the loss. Net cash flow from operating activities was negative 62.8178 million yuan, down 545.22% year-on-year. The company's asset-liability ratio rose to 95.86%, gross margin fell to 1.43%, and ROE was negative 1775.61%. Diluted earnings per share were negative 0.06 yuan.

Fasten Group disclosed an earnings forecast, expecting a net loss attributable to shareholders of 25 million to 37.5 million yuan in the first half of 2026, compared with a loss of 15.0349 million yuan in the same period last year. The net loss after deducting non-recurring items is also expected to be 25 million to 37.5 million yuan, compared with a loss of 26.6094 million yuan in the same period last year. The company stated that the change in performance is mainly due to the completion of the sale of a 10% stake in its associate China Bekaert Steel Cord Company Limited during this reporting period, resulting in no further profit dividends, whereas a dividend of 7.3752 million yuan was received in the same period last year. In addition, the company recognized investment income of 11.2835 million yuan from the transfer of matured accounts receivable claims in the same period last year, while no such transaction occurred in this reporting period.