Ningxia Qinglong Pipes Industry Co Ltd

Qinglong Pipes has released its 2026 interim report, showing newly signed contract value surged 156.33% year on year, while net operating cash outflow widened by 54.30%. During the reporting period, the company achieved operating revenue of 951 million yuan, up 1.94% year on year; net profit attributable to shareholders was 14.51 million yuan, up 7.65%; and non-GAAP net profit was 12.98 million yuan, up 43.84%. Net cash flow from operating activities was negative 370 million yuan, and closing inventory was 969 million yuan, a sharp increase of 55.77% from the end of last year. Revenue from plastic pipe business reached 283 million yuan, up 30.85% year on year, becoming the main growth engine; revenue from the traditional strength, concrete pipes, was 405 million yuan, down 14.18% year on year.

Qinglong Pipe Industry recently signed six Prefabricated Component Framework Procurement Agreements with CSSC Haizhuang Wind Power. The total contract value is 497 million yuan, accounting for 18.91 percent of the company's audited total operating revenue for 2025. The contract scope includes prefabricated component products, related ancillary accessories, and technical service support, and is expected to have a certain impact on the company's performance from 2026 to 2028.