Zhejiang Kingland Pipeline and Technologies Co Ltd

Kingland Pipeline has released its 2026 interim report, with net profit attributable to the parent company of 85.75 million yuan, up 48.29% from the same period last year. Total operating revenue was 2.055 billion yuan, up 1.76% year on year. Net cash inflow from operating activities was 55.9965 million yuan, an increase of 103 million yuan compared with the same period last year. The latest gross margin was 12.65%, up 2.03 percentage points from a year earlier. The latest return on equity was 2.51%, up 0.83 percentage points from a year earlier. Diluted earnings per share were 0.16 yuan, up 48.33% year on year.

Kingland Pipeline disclosed its 2026 semi-annual report. In the first half, it achieved operating revenue of 2.055 billion yuan, up 1.76 percent year on year, and net profit attributable to the parent of 85.7504 million yuan, a sharp increase of 48.29 percent year on year. Net cash flow from operating activities reached 55.9965 million yuan, a substantial improvement of 219.40 percent year on year. The company said that the 15th Five-Year Plan for Oil and Gas Development, issued by the National Development and Reform Commission and the National Energy Administration on August 17, specifies that by 2030 China will add 20,000 kilometers of new long-distance oil and gas pipelines, bringing the national long-distance oil and gas pipeline network to 220,000 kilometers, and for the first time incorporates coordinated advancement of new business pipeline transport layouts into top-level design. The company's product matrix is highly aligned with the plan's direction. In liquid cooling, Kingland Pipeline is advancing on three fronts through three subsidiaries. Its wholly owned subsidiary Kingland Smart New Materials Shanghai Company Limited has been renamed Kingland Smart Liquid Cooling Technology Shanghai Company Limited and has adjusted its business scope to serve as the core operating vehicle for the liquid cooling business. Its subsidiary Dongguan Huaxing Industrial Company Limited has launched a liquid cooling product line expansion project, planning to add 30,000 square meters of production facilities. Its wholly owned subsidiary Kingland Smart Liquid Cooling Shanghai holds a 51 percent stake in Shanlin Shidai Shenzhen Intelligent Technology Company Limited, which provides complete solutions including cold plates for AI servers and immersion liquid cooling systems. The company cautioned that liquid cooling related business is still in the technology research and development and market expansion stage, with relatively small business scale, and has not yet had a material impact on current operating results.