Xiamen Wanli Stone Stock Co Ltd

On the evening of August 28, stone company Wanli Stone and its controlling shareholder and actual controller Hu Jingpei both received a Notice of Case Filing from the China Securities Regulatory Commission for suspected illegal information disclosure. On the same day, the company's 2026 semi-annual report showed that first-half operating revenue was 461 million yuan, down 14.29 percent year on year, but net profit attributable to the parent was 25.67 million yuan, a sharp increase of 506.69 percent, while net profit after deducting non-recurring items was 2.57 million yuan, up 173.43 percent. The company said the surge in net profit was mainly related to the reversal of impairment provisions on accounts receivable, with credit impairment losses of 60.7 million yuan during the reporting period. In addition, the semi-annual report disclosed that Hu Jingpei had earlier formed a capital occupation of 58.05 million yuan through the listed company by paying deposits to suppliers and making advance payments for goods, and the principal had been fully repaid by the end of the reporting period. As of the end of the first half, Hu Jingpei directly held 12.37 percent of the company's shares, and Xiamen Hafu Mining, which he wholly owns, held 11.39 percent, with part of those shares pledged or frozen.