Jiangxi Black Cat Carbon Black

Black Cat Carbon Black released its 2026 interim report. Total operating revenue was 4.425 billion yuan, up 3.01% year-on-year. Net profit attributable to the parent company was negative 106 million yuan, a loss reduction of 8.5713 million yuan compared with the same period last year. Net cash inflow from operating activities was 63.3872 million yuan, achieving growth for two consecutive years. The company's asset-liability ratio was 69.63%, gross margin was 3.89%, return on equity was negative 4.31%, and diluted earnings per share was negative 0.14 yuan. The number of shareholders was 50,300, and the top ten shareholders held 53.82% of the total share capital.

Lianchuang Co. has acquired a 20% stake in Inner Mongolia Lianhe Fluorocarbon New Materials Co., Ltd. held by Black Cat Co. through a public delisting process, with a transaction price of 61.8511 million yuan. Black Cat Co. had previously listed the stake for public transfer on the Jiangxi Property Rights Exchange on May 16, and Lianchuang Co. recently received a transaction result notice confirming it as the transferee. After the completion of this transaction, Inner Mongolia Lianhe will become a wholly-owned subsidiary of Lianchuang Co., but it will not lead to changes in the company's consolidated financial statements.

Black Cat Carbon Black disclosed its earnings forecast, expecting a net loss attributable to the parent of 100 million to 130 million yuan in the first half of 2026, compared to a loss of 115 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 105 million to 135 million yuan, compared to a loss of 131 million yuan a year earlier. The company stated that carbon black sales volume increased quarter-on-quarter in the second quarter, and gross margin improved slightly from the previous quarter, but sharp fluctuations in upstream raw material prices and intense market competition put pressure on overall gross profit improvement, leading to a net loss in the reporting period. Going forward, the company will improve profitability through measures such as technological innovation and cost control.