Zhongyeda Electric Co Ltd

Zhongyeda released its 2026 interim report. During the reporting period, the company achieved operating revenue of 5.723 billion yuan, up 4.84% year on year. Net profit attributable to the parent company was 158 million yuan, up 21.13% year on year. Net profit after deducting non-recurring items was 150 million yuan, up 18.82% year on year. The company plans to distribute a cash dividend of 2 yuan per 10 shares before tax to all shareholders, with total cash dividends of approximately 109 million yuan. The earnings growth was mainly driven by a 12.48% year-on-year increase in distribution revenue from industrial control products to 1.697 billion yuan, raising their revenue share to 29.65%. Distribution revenue from low-voltage electrical products was 3.618 billion yuan, up 3.05% year on year, accounting for 63.22% of revenue. However, net cash flow from operating activities was negative 402 million yuan, shifting from a net inflow in the same period last year to a net outflow. Accounts receivable at the end of the period reached 2.084 billion yuan, a sharp increase of 88.10% from the beginning of the period. The company is establishing a subsidiary in Vietnam through its Singapore subsidiary and is studying markets such as Thailand and Indonesia to build a second growth curve.