Shenzhen Wenke Landscape Co Ltd

Wenke Co. disclosed its 2026 semi-annual report on August 27. In the first half, it achieved total operating revenue of 220 million yuan, up 9.55% year on year, but net profit attributable to the parent company showed a loss of 23.96 million yuan, compared with a profit of 11.2 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 42.43 million yuan, compared with a loss of 106 million yuan a year earlier. Net cash flow from operating activities was 37.24 million yuan, versus negative 129 million yuan in the prior-year period. The company is mainly engaged in landscape architecture planning and design, ecological and environmental protection technology research and development, and landscape and municipal engineering construction. As of the end of the first half of 2026, the company's inventory book value was 220 million yuan, accounting for 352.78 percent of net assets, and goodwill reached 44.06 million yuan, equivalent to 70.76 percent of net assets in the same period. In addition, as of August 21, 2026, 11.22 percent of the company's shares were pledged.

Wenke Co. released its 2026 interim report, showing total operating revenue of 220 million yuan, up 9.55% year-on-year, but net profit attributable to the parent company was a loss of 23.96 million yuan, a decrease of 35.16 million yuan compared with the same period last year, down 314.02% year-on-year, swinging from profit to loss. Net cash inflow from operating activities was 37.24 million yuan, an increase of 166 million yuan year-on-year. The company's asset-liability ratio was 98.68%, gross margin was 28.46%, ROE was negative 38.48%, and diluted earnings per share was negative 0.04 yuan.

Wenke Shares disclosed its earnings forecast, expecting a net loss attributable to the parent company of 20 million to 30 million yuan in the first half of 2026, compared with a profit of 11.197 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 32 million to 48 million yuan, compared with a loss of 106 million yuan in the same period last year. The company said that its traditional business scale is shrinking while the green energy business is growing, and the revenue structure is undergoing adjustment. The effectiveness of period expense optimization is not yet significant, but after excluding non-recurring items, the quality of core main business operations has improved compared with the same period last year.