Ningbo Cixing

Cixing Shares released its 2026 interim report, showing total operating revenue of 1.456 billion yuan, net profit attributable to the parent company of 173 million yuan, and net cash inflow from operating activities of 416 million yuan. The latest asset-liability ratio stands at 32.31 percent, up 5.80 percentage points from the previous quarter and up 3.73 percentage points from the same period last year. Gross margin is 33.08 percent, down 0.69 percentage points from the previous quarter. Return on equity is 5.16 percent, and diluted earnings per share is 0.22 yuan. The number of shareholders is 42,100, and the top ten shareholders hold 43.98 percent of total share capital.

Cixing Shares released its 2026 semi-annual report, with both revenue and net profit posting strong growth and non-GAAP net profit doubling. During the reporting period, the company achieved total operating revenue of 1.456 billion yuan, up 31.59% year on year; net profit attributable to shareholders of the listed company reached 173 million yuan, up 64.07% year on year; and non-GAAP net profit hit 169 million yuan, a year-on-year surge of 103.94%. Net cash flow from operating activities reached 416 million yuan, skyrocketing more than 230-fold year on year. The flat knitting machine business, as the core pillar, achieved operating revenue of 1.38 billion yuan, up 38.58% year on year, of which overseas sales revenue was 288 million yuan, surging 83.95% year on year, lifting the overseas revenue share from 15.74% to 20.89%. The company completed the acquisition of Germany's STOLL in June 2026. STOLL is a benchmark brand in the global flat knitting machine sector, holding a large number of core patents and proprietary processes. Leveraging its service network spanning more than 100 countries worldwide, Cixing Shares is accelerating its transformation into a global provider of integrated solutions for fashion and industrial textiles. Behind the performance growth lies a triple resonance of industry recovery, competitive landscape restructuring, and cultivation of a second growth curve. The company is speeding up the commercial rollout of cutting-edge products such as knitting robots and unmanned factories. As of the end of the reporting period, the company held 168 invention patents, 97 utility model patents, 15 design patents, and 233 software copyrights.

Cixing Shares signed two agreements at an exchange meeting on August 19, officially entering the new smart fabric sector for humanoid robot electronic skin and related applications. The company signed a Strategic Cooperation Framework Agreement on Industry-University-Research for the Smart Wearable Industry with Hangzhou Guorui Microfiber, Kuangda Technology, Mingxin Xuteng, the College of Textiles and Clothing at Qingdao University, the School of Computer Science and Artificial Intelligence at Wuhan Textile University, and the Jiaxing Research Institute of Southern University of Science and Technology. It also signed a Strategic Cooperation Agreement with Mingxin Xuteng to build an integrated collaborative system covering materials, equipment, and processes. The company has independently developed the world's first specialized computerized flat knitting machine for warp and weft composite knitting used in the preparation of knitted flexible electronic skin, capable of composite knitting with up to 32 different materials, with mass production costs significantly lower than traditional patch-type sensing solutions. Cixing Shares sold nearly 32,000 computerized flat knitting machines in 2025, with a global market share exceeding 30 percent and an annual production capacity of 45,000 units. Guosheng Securities expects its net profit attributable to the parent company to be 302 million yuan, 426 million yuan, and 577 million yuan respectively from 2026 to 2028.

Cixing Shares disclosed its earnings forecast, expecting attributable net profit for the first half of 2026 to be between 150 million and 170 million yuan, a year-on-year increase of 42.01% to 60.94%. Deducted non-recurring net profit is expected to be between 135 million and 155 million yuan, up 63.26% to 87.45% year-on-year. The company said the profit growth was mainly due to higher sales revenue from computerized flat knitting machines, while product mix optimization and a higher proportion of high-end model sales drove overall gross margin improvement. Non-recurring gains and losses are expected to impact net profit by about 15 million yuan.