Guangdong Qunxing Toys Joint-Stock Co Ltd

Qunxing Toys released its 2026 interim report, with net profit attributable to the parent company at negative 48.5934 million yuan, a loss expansion of 31.5317 million yuan compared with the same period last year. The company's total operating revenue was 223 million yuan, and net cash inflow from operating activities was 15.0251 million yuan, down 61.39% year on year. The latest asset-liability ratio was 9.49%, gross margin was 4.67%, ROE was negative 6.08%, and diluted earnings per share was negative 0.08 yuan.

Qunxing Toys has issued a performance forecast, estimating a net loss attributable to shareholders of the listed company of 45 million to 60 million yuan for the first half of 2026, compared with a loss of 17.06 million yuan in the same period last year. Net loss after deducting non-recurring items is projected at 45 million to 62 million yuan, versus a loss of 19.22 million yuan a year earlier. Basic loss per share is expected at 0.07 to 0.10 yuan, compared with a loss of 0.03 yuan in the prior-year period. The company explained that the sharp decline in net profit is mainly due to the smart computing business being affected by factors such as leading enterprises building their own smart computing centers and intensifying industry competition, leading to asset impairment provisions based on the principle of prudence.