YUNDA Holding Co Ltd

On the evening of August 25, multiple listed companies on the Shanghai and Shenzhen exchanges issued announcements disclosing half-year reports and major matters. Wanhua Chemical's subsidiary, Hungary's BorsodChem, resumed production at its facilities; CICC received approval to issue corporate bonds of up to 80 billion yuan; Advanced Micro-Fabrication Equipment's advanced thin-film equipment cumulative shipments exceeded 500 reaction chambers. In terms of performance, NAURA Technology Group posted first-half net profit of 3.37 billion yuan, up 5.05 percent year on year; Wus Printed Circuit posted net profit of 2.923 billion yuan, up 73.72 percent; CGN Power posted net profit of 6.105 billion yuan, up 2.66 percent; OKE Precision Cutting Tools posted net profit of 371 million yuan, up 47,734.24 percent; Hangzhou Cable posted net profit of 393 million yuan, up 938.67 percent; Joyson Electronics posted net profit of 739 million yuan, up 4.43 percent; Yunda Holding posted net profit of 998 million yuan, up 88.82 percent; Yahua Group posted net profit of 1.216 billion yuan, up 795.48 percent; Changjiang Securities posted net profit of 3.192 billion yuan, up 83.8 percent; Suzhou Good-Ark Electronics posted net profit of 77.2942 million yuan, up 76.87 percent; Yunnan Chihong Zinc & Germanium posted net profit of 1.59 billion yuan, up 70.58 percent; Jiangxi Copper posted net profit of 8.632 billion yuan, up 106.77 percent; Shanghai Yashi posted net profit of 114 million yuan, up 460.72 percent; Beijing Easpring Material Technology posted net profit of 520 million yuan, up 67.25 percent; 37 Interactive Entertainment posted net profit of 1.766 billion yuan, up 26.14 percent; Dongfang Tower posted net profit of 976 million yuan, up 97.84 percent; Jingxing Paper posted net profit of 139 million yuan, up 152.95 percent; Huaqin Technology posted net profit of 3 billion yuan, up 58.8 percent; Lianyun Technology posted net profit of 520 million yuan, up 825.54 percent; Guosen Securities posted net profit of 5.732 billion yuan, up 6.79 percent; CSSC Offshore & Marine Engineering posted net profit of 837 million yuan, up 58.94 percent; Luwei Optoelectronics posted net profit of 145 million yuan, up 35.82 percent; Lu'an Environmental Energy posted net profit of 1.778 billion yuan, up 31.85 percent; JPT Opto-electronics posted net profit of 195 million yuan, up 105.25 percent; Tongkun Group posted net profit of 4.222 billion yuan, up 285.03 percent; China Merchants Securities posted net profit of 10.624 billion yuan, up 104.87 percent; Sichuan Changhong posted net profit of 1.646 billion yuan, up 228.62 percent; Qinghai Salt Lake Industry posted net profit of 6.169 billion yuan, up 137.88 percent; Dawn Polymer posted net profit of 237 million yuan, up 181.94 percent; Allwinner Technology posted net profit of 490 million yuan, up 204.17 percent; Hanshow Technology posted net profit of 336 million yuan, up 51.22 percent; Dinglong posted net profit of 529 million yuan, up 70.21 percent; SF Diamond posted net profit of 78.1797 million yuan, up 46.9 percent; Robotechnik posted net profit of 6.5568 million yuan, turning from loss to profit year on year; Qianjin Pharmaceutical posted net profit of 181 million yuan, up 41.59 percent; Zhucheng Technology posted net profit of 132 million yuan, up 49.35 percent; Hengfeng Paper posted net profit of 112 million yuan, up 17.95 percent; Kidswant posted net profit of 172 million yuan, up 19.9 percent; Huate Gas posted net profit of 92.8327 million yuan, up 19.16 percent; Zhejiang Longsheng posted net profit of 1.004 billion yuan, up 8.2 percent; Dameng Data posted net profit of 221 million yuan, up 7.99 percent; Innovent Biologics posted first-half total revenue of 8.618 billion yuan, up 44.8 percent. In addition, Annil plans to repurchase shares worth 40 million to 80 million yuan, and Beimo Gaoke plans to repurchase shares worth 120 million to 180 million yuan.

Yunda Holding disclosed its 2026 semi-annual report. Net profit attributable to the parent in the first half was 998 million yuan, a sharp year-on-year increase of 88.82 percent. Non-GAAP net profit was 931 million yuan, surging 105.68 percent year on year. The company achieved operating revenue of 26.439 billion yuan, up 6.47 percent year on year, and net cash flow from operating activities of 1.627 billion yuan, up 60.72 percent year on year. The industry's average express delivery price per parcel rose 2.3 percent year on year to 7.68 yuan, while the company's express delivery revenue per parcel reached 2.13 yuan, an increase of 0.21 yuan year on year. In the first half, it completed 12.257 billion express parcels, with a stable national market share of 12.2 percent, and Yunda Express's core time-definite business volume grew nearly 190 percent year on year.

The two Tong and one Da have released their June operating data. Business revenue continued to grow year on year, but single-ticket prices diverged. Yunda Holding's single-ticket price was 2.11 yuan, up both year on year and month on month. STO Express's single-ticket price rose 6.03 percent year on year to 2.11 yuan, but fell 0.03 yuan from May. YTO Express's single-ticket price was 2.06 yuan, slightly lower year on year but up 0.02 yuan from May. In terms of business volume, STO and YTO both posted year-on-year growth, while Yunda Holding was roughly flat. He Dan, a director in the Asia-Pacific corporate ratings team at Fitch Ratings, analyzed that the anti-cutthroat competition drive in the first half boosted express companies' profitability, but single-ticket prices will not keep rising. In the second half, the anti-cutthroat competition push is very likely to continue, though the intensity may be relatively moderate, which will help the industry maintain a rational pricing environment and support profit recovery.

Yunda Holding released its express delivery business indicators for June 2026. Express service revenue reached 4.578 billion yuan, up 10.34% year-on-year. Business volume for the month was 2.172 billion parcels, down 0.05% year-on-year. Average revenue per parcel was 2.11 yuan, up 10.47% year-on-year.

Yunda Holding disclosed its earnings forecast, estimating that net profit attributable to shareholders of the listed company for the first half of 2026 will be between 905 million yuan and 1.05 billion yuan, representing a year-on-year increase of 71.15% to 98.57%. The company stated that revenue per parcel for express delivery services saw reasonable growth in the first half, while express delivery business profitability in the same period last year was at a relatively low level, resulting in a certain low-base effect for the current reporting period's operating data compared to the previous year.