XinJiang GuoTong Pipeline Co Ltd

Guotong United released its 2026 interim report, showing total operating revenue of 170 million yuan, down 10.47 percent year on year. Net profit attributable to the parent company was negative 101 million yuan, a decrease of 75.3055 million yuan compared with the same period last year, with the loss widening. Net cash inflow from operating activities was 14.3914 million yuan, an increase of 43.9508 million yuan year on year. The company's asset-liability ratio rose to 92.16 percent, gross margin fell to 17.89 percent, return on equity was negative 52.89 percent, and diluted earnings per share was negative 0.54 yuan. The number of shareholders was 13,200, and the top ten shareholders held 52.99 percent of the shares.

Guotong Corporation released its 2026 interim report on August 26. During the reporting period, the company achieved operating revenue of 170 million yuan, down 10.47 percent year on year. Net loss attributable to the parent company was 101 million yuan, widening 297.93 percent year on year. Net loss after deducting non-recurring items was 69 million yuan, widening 176.33 percent year on year. Revenue from the company's core product, PCCP pipes, accounted for 86.36 percent of total revenue, but its gross margin was only 11.62 percent, down 25.27 percentage points year on year, dragging the overall gross margin of the building materials segment down to 12.28 percent. The decline in performance was mainly due to fewer orders and a sharp drop in the gross margin of PCCP products. At the same time, the company made a provision of about 25.41 million yuan for losses from pending litigation, and recorded an investment loss of 7.84 million yuan from the disposal of long-term equity investments. Although operating cash flow turned positive, the company still faces risks such as a high asset-liability ratio and frozen assets related to litigation. Going forward, attention should be paid to the stabilization of gross margins and the progress of litigation.

Guotong Union disclosed its 2026 half-year performance forecast, estimating revenue of 150 million to 200 million yuan and a net loss attributable to shareholders of the listed company of 70 million to 85 million yuan. The company's main business is high-end concrete products such as prestressed steel cylinder concrete pipes. Affected by intense market competition and uneven bidding schedules for large-scale water conservancy projects across regions, new orders fell short of expectations in stages. The company stated it will firmly focus on its core business of PCCP water pipelines, proactively connect with major national water network and urban underground pipeline projects, increase business follow-up efforts in key regions, and leverage the synergy advantages of its controlling shareholder China Logistics to promote integrated supply chain logistics, taking multiple measures to improve order performance.