Guangdong Failong Crystal Technology Co Ltd

ST Huilun released its 2026 interim report, showing a net loss attributable to shareholders of 37.99 million yuan. During the reporting period, the company's total operating revenue was 305 million yuan, and net cash inflow from operating activities was 56.80 million yuan. The company's latest asset-liability ratio was 66.69%, up 1.52 percentage points from the previous quarter and up 2.43 percentage points from the same period last year. Its latest gross margin was 12.28%, down 2.73 percentage points from the previous quarter. Its latest return on equity was negative 8.84%, and diluted earnings per share was negative 0.14 yuan. The company's latest total asset turnover was 0.22 times, inventory turnover was 1.40 times, the number of shareholders was 19,900, and the top ten shareholders held 72.58 million shares, accounting for 25.85% of total share capital.

ST Huilun's former chairman Zhao Jianhua voted against all proposals at the fifth board of directors' twelfth meeting, while the company passed a motion to remove him from his director position. Zhao's reasons for opposition included claims that the company's description of his alleged leak of account information was fabricated, and he questioned the independence of the independent directors. The company responded that Zhao also serves as a representative of Guangdong Qianyiweda Equity Investment Partnership, which is involved in a loan contract dispute with the company and has filed a lawsuit, and has applied to freeze some of the company's bank accounts, leading to reasonable suspicion that he leaked account information. The company also stressed that the current independent directors all meet regulatory independence requirements. The board meeting also approved the appointment of Li Ke as board secretary, the by-election of special committee members, and the convening of the second extraordinary general meeting of 2026, among other proposals. The removal of Zhao Jianhua as director will be submitted to the shareholders' meeting for approval. Previously, at a board meeting on June 25, Zhao also voted against all proposals, citing reasons including procedural irregularities in the meeting's convening, to which the company responded point by point at the time.