Guangdong Kinlong Hardware Products Co Ltd

Kinlong Hardware, stock code 002791, disclosed its 2026 semi-annual report on August 29. In the first half of the year, it achieved total operating revenue of 2.361 billion yuan, down 14.28 percent year on year. Net profit attributable to the parent company was a loss of 64.2215 million yuan, compared with a loss of 30.4322 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 81.2055 million yuan, compared with a loss of 43.8843 million yuan a year earlier. Net cash flow from operating activities was negative 133 million yuan, compared with negative 204 million yuan in the prior-year period. Basic earnings per share were negative 0.18 yuan, and the weighted average return on net assets was negative 1.20 percent. The company is mainly engaged in the research, development, production and sales of mid-to-high-end architectural hardware systems and building components and related products. As of the end of the first half of 2026, the company's inventory book value was 1.214 billion yuan, accounting for 22.8 percent of net assets, a decrease of 111 million yuan from the end of the previous year. Data from China Securities Depository and Clearing Corporation show that as of August 28, 2026, 14.13 percent of the company's shares were pledged. The largest shareholder, Bai Baokun, pledged 30 million shares, accounting for 23.87 percent of his total holdings.

Kinlong Hardware has disclosed its earnings forecast, projecting a net loss attributable to shareholders of 60 million to 70 million yuan for the first half of 2026, compared with a loss of 30.4322 million yuan in the same period last year. The company expects operating revenue to decline by 14% to 15% year-on-year, with a net loss after deducting non-recurring items of 80 million to 85 million yuan, and a basic loss per share of 0.17 to 0.2 yuan. The decline in performance is mainly due to the weak recovery of the domestic construction industry, reduced market demand, and intensified industry competition.