Kunming Yunnei Power Co Ltd

ST Yundong released its 2026 interim report, with total operating revenue of 2.33 billion yuan, down 17.39% year-on-year. Net profit attributable to the parent company was negative 170 million yuan, a decrease of 26.923 million yuan compared with the same period last year, widening the loss. Net cash flow from operating activities was negative 354 million yuan, a year-on-year decrease of 4.0126 million yuan. The company's asset-liability ratio rose to 94.63%, gross margin was 6.31%, ROE was negative 34.94%, and diluted earnings per share was negative 0.09 yuan. The number of shareholders was 73,300, and the top ten shareholders held 37.86% of the total share capital.

ST Yundong disclosed its earnings forecast, expecting a net loss attributable to the parent company of 150 million to 180 million yuan in the first half of 2026, compared with a loss of 143 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 149 million to 179 million yuan, compared with a loss of 146 million yuan a year earlier. The company said the commercial vehicle engine market faces multiple challenges such as rising penetration of new energy vehicles, high and fluctuating oil prices, and intensifying market competition. Engine sales volume declined year-on-year, and the high asset-liability ratio led to a heavy financial expense burden, causing the loss to increase compared with the same period last year. The company is promoting product structure adjustments, with sales of non-road engine products achieving year-on-year growth. Unmanned driving equipment has been applied in scenarios such as sanitation, cultural tourism, and logistics, and the automatic rubber tapping machine has completed performance optimization and is expanding into overseas markets.